HomeMy WebLinkAboutRESOLUTIONS-2005-057-R-05• 9/14/2005
57-R-05
A RESOLUTION
Abating Taxes Heretofore Levied to Pay Principal and Interest
on $24,210,000 Corporate Purpose Bonds, Series 1994,
of the City of Evanston, Cook County, Illinois
WHEREAS, the City Council of the City of Evanston, Cook
County, Illinois, did on the 29th day of March, 1994, adopt Ordinance 22-0-94,
an Ordinance entitled:
An Ordinance providing for the issuance of $24,210,000 Corporate
Purpose Bonds Series 1994, 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
22-0-94 and the accompanying Bond Order remains in your office;
and
WHEREAS, said Ordinance provided for the levy of taxes
sufficient to pay the Series 1994 Bonds, the remaining levies being as follows:
Year
Amount Levied
2005
$1,861,225.00
2006
$1,847,975.00
2007
$1,856,975.00
2008
$1,861,850.00
2009
$1,887,600.00
2010
$1,882,850.00
2011
$1,896,687.50
2012
$1,878,250.00
2013
$1,480,500.00
0 and
57-R-05
WHEREAS the Cityissued its Series 1999 37 525 000 •
$ ,
(the "Series 1999 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 taxes heretofore levied for
the payment of the Series 1994 Bonds for the years and in the amounts •
as follows:
Year
Amount Levied
Amount to be Abated
2005
$1,861,225.00
All
2006
$1,847,975.00
All
2007
$1,856,975.00
All
2008
$1,861,850.00
All
2009
$1,887,600.00
All
2010
$1,882,850.00
All
2011
$1,896,687.50
All
2012
$1,878,250.00
All
2013
$1,480,500.00
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 •
-2-
57-R-05
• taxes heretofore levied under said Ordinance 22-0-94 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.
� )Ze- .
Lorraine H. Morton, Mayor
Attest:
14 MaryrPC]tyfClerLk
Adopted:���1d- � , 2005
•
—3—