HomeMy WebLinkAboutRESOLUTIONS-2005-056-R-05•
56-R-05
A RESOLUTION
9/14/2005
Abating Taxes Heretofore Levied to Pay Principal and Interest
on $36,240,000 Corporate Purpose Bonds, Series 1992,
of the City of Evanston, Cook County, Illinois
WHEREAS, the City Council of the City of Evanston, Cook
County, Illinois, did on the 27th of April, 1992, adopt Ordinance 28-0-92, an
Ordinance entitled:
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and
An Ordinance providing for the issuance of $36,240,000 Corporate
Purpose Bonds Series 1992, of the City of Evanston, Cook
County, Illinois, and in the accompanying Bond Order providing for
the levy and collection of a direct annual tax for the payment of the
principal of and interest on said bonds; and since Ordinance
28-0-92 and the accompanying Bond Order remains in your office;
WHEREAS, said Ordinance provided for the levy of taxes
sufficient to pay the Series 1992 Bonds, the remaining levies being as follows:
and
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Year
Amount Levied
2005
$2,396,896.26
2006
$2,388,686.26
2007
$2,269,986.26
2008
$2,277,201.26
2009
$2,272,706.26
2010
$2,286,331.26
2011
$2,286,993.75
56-R-05
WHEREAS, the City issued its Series 1997 not to exceed
$37,500,000 (the "Series 1997 Bonds") General Obligation Bonds, a part of the
proceeds of which was used to refund the interest on and principal of the
Refunded Bonds and pay such principal on the earliest Call Date for the
Refunded Bonds. The refunding resulted in a reduction in debt service for the
Refunded Bonds, and the Tax Levies may be abated as indicated,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That, accordingly, the Cook County Clerk is hereby
notified and directed to make an abatement of the remaining taxes heretofore
levied for the payment of the Series 1992 Bonds for the years and in the
amounts as follows:
Year
Amount Levied
Amount to be Abated
2005
$2,396,896.26
All
2006
$2,388,686.26
All
2007
$2,269,986.26
All
2008
$2,277,201.26
All
2009
$2,272,706.26
All
2010
$2,286,331.26
All
2011
$2,286,993.75
All
SECTION 2: That the City Manager, upon passage of this
Resolution, 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 all the
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56-R-05
• taxes heretofore levied under said Ordinance 28-0-92 and the accompanying
Bond Order for all the levy years listed in this Resolution.
SECTION 3: That this Resolution shall be in full force and effect
from and after the date of its passage and approval in the manner provided
by law.
Attest:
• Mary esCityC
Clerk
Adopted: , 2005
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A
Lorraine H. Morton, Mayor
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