T17-14 Ordinance No. T17-14
AN ORDINANCE
ABATING THE ANNUAL TAX FOR 2013 FOR
GENERAL OBLIGATION CORPORATE PURPOSE BONDS, SERIES 2012A
WHEREAS, the City of Elgin will have sufficient funds on hand to pay the tax levied by
Ordinance S3-12, An Ordinance Providing for the Issuance of $8,600,000 General Obligation
Corporate Purpose Bonds, Series 2012A, of the City of Elgin, Kane and Cook Counties, Illinois,
and Providing for the Levy and Collection of a Direct Annual Tax for the Payment of the
Principal of and Interest on said Bonds; and
WHEREAS, the levy of the tax for the year 2013 provided in the ordinance is
unnecessary.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ELGIN, ILLINOIS:
Section 1. That the County Clerks of Kane and Cook Counties, are hereby authorized
and directed to abate the tax of $758,738 for the year 2013 as provided and levied in the
ordinance providing for the issuance of $8,600,000 General Obligation Corporate Purpose
Bonds, Series 2012A, passed June 13, 2012, a copy of which was filed with each of said county
clerks.
Section 2. That the City Clerk is authorized and directed to file a certified copy of this
ordinance with the County Clerks of Kane and Cook Counties, Illinois, prior to March 15, 2014.
Section 3. That this ordinance shall be in full force and effect from and after its
passage in the manner provided by law.
Aded /
David . Kap Vin, ayor
Presented: February 26, 2014
Passed: February 26, 2014
Omnibus Vote: Yeas: 8 Nays: 0
Recorded: February 26, 2014
Published: February 27, 2014
Attest:
\g/44. est. it( 136WA
Kimberly Dewis,Dewis, City Clerk