HomeMy WebLinkAbout111-R-19 Abating Taxes Levied for the Year 2019 Heretofore Levied to Pay Principal and Interest on Not to Exceed $24,385,000 General Obligation Corporate Purpose Bonds, Series 2018A, of the City of Evanston Cook County, Illinois11 /18/2019
111-R-19
A RESOLUTION
Abating Taxes Levied for the Year 2019
Heretofore Levied to Pay Principal and Interest on
Not to Exceed $24,385,000 General Obligation Corporate
Purpose Bonds, Series 2018A, of the City of Evanston
Cook County, Illinois
WHEREAS, on the 9th day of July, 2018, the City Council of the
City of Evanston, Cook County, Illinois, did adopt Ordinance 71-0-18 entitled:
and
AN ORDINANCE providing for the issuance of one or more series
of not to exceed $50,000,000 General Obligation Corporate
Purpose Bonds, Series 2018A, to finance the construction and
equipment of a new Robert Crown Community Center, Ice Complex
and Library Center, one or more series of not to exceed
$20,000,000 General Obligation Corporate Purpose Bonds, Series
2018B, for capital improvements, one or more series of not to
exceed $10,000,000 General Obligation Refunding Bonds, Series
2018C, for refunding purposes and one or more series of not to
exceed $5,000,000 Taxable General Obligation Corporate Purpose
Bonds, Series 2018D, for redevelopment projects, of the City of
Evanston, Cook County, Illinois, authorizing the execution of one or
more bond orders in connection therewith, providing for the levy
and collection of a direct annual tax for the payment of the principal
of and interest on said bonds, authorizing and directing the
execution of an escrow agreement in connection with said
refunding bonds, and authorizing an directing the sale of said
bonds at public competitive sale.
WHEREAS, the Series 2018A bond total is Twenty -Four Million,
Three -Hundred Eighty -Five Thousand Dollars ($24,385,000.00) there is available
from other sources the amount of Nine Hundred Ninety -Eight Thousand, Eight
111-R-19
Hundred Sixty -Nine Dollars ($998,869.00) which may lawfully be utilized to pay
sums due on said series 2018A bonds for which taxes were heretofore levied;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL,
OF THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the taxes heretofore levied and provided for in
the Ordinance and in the accompanying Bond Order providing for the issuance of
not to exceed Twenty -Four Million, Three -Hundred Eighty -Five Thousand Dollars
($24,385,000.00), General Obligation Bonds, Series 2018A, of the City of
Evanston, Cook County, Illinois, passed July 9, 2018, as Ordinance 71-0-18, be
and the same hereby are abated for the year 2019 under the Series 2018A
bonds by the amount of Nine Hundred Ninety -Eight Thousand, Eight Hundred
Sixty -Nine Dollars ($998,869.00).
SECTION 2: That the City Manager, upon passage of this
Resolution 111-R-19, shall cause to be filed with the County Clerk of Cook
County, Illinois, a certified copy hereof and shall direct said County Clerk to abate
the taxes heretofore levied under said Ordinance 71-0-18 and the accompanying
Bond Order for the year 2019 in the amount of Nine Hundred Ninety -Eight
Thousand, Eight Hundred Sixty -Nine Dollars ($998,869.00).
SECTION 3: That the foregoing recitals are hereby found as fact
and made a part hereof.
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111-R-19
SECTION 4: That this Resolution 93-R-18 shall be in full force and
effect from and after the date of its passage and approval in the manner
provided by law.
Attest:
Devoleid, City e � G �`e,�<
IUcs,(� Cjor+�z, -b?
Adopted: %0,Je-Q0,e( )- , 2019
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i
Stephen 4 Hag rty, or
Approved as to form:
Michelle L. Masoncup, Corpo ation
Counsel