HomeMy WebLinkAboutRESOLUTIONS-2005-058-R-05•
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9/14/2005
58-R-05
A RESOLUTION
Abating Taxes Heretofore Levied to Pay Principal and Interest
on $10,835,000 Corporate Purpose Bonds, Series 1995,
of the City of Evanston, Cook County, Illinois
WHEREAS, the City Council of the City of Evanston, Cook
County, Illinois, did on the 31st day of March, 1995, adopt Ordinance 28-0-95,
an Ordinance entitled:
and
An Ordinance providing for the issuance of $10,835,000 Corporate
Purpose Bonds Series 1995, 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
28-0-95 and the accompanying Bond Order remains in your office;
WHEREAS, said Ordinance provided for the levy of taxes
sufficient to pay the Series 1995 Bonds, the remaining levies being as follows:
and
Year
Amount Levied
2005
$715,481.26
2006
$713,486.26
2007
$714,996.26
2008
$719,696.26
2009
$717,501.26
2010
$718,661.26
2011
$718,005.00
2012
$725,517.50
2013
$725,770.00
2014
$724,045.00
58-R-05
WHEREAS, The City issued 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 1995 Bonds for the years and in the amounts
as follows:
Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Amount Levied
$715,481.26
$713,486.26
$714,996.26
$719,696.26
$717,501.26
$718,661.26
$718,005.00
$725,517.50
$725,770.00
$724,045.00
Amount to be Abated
All
All
All
All
All
All
All
All
All
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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58-R-05
• taxes heretofore levied under said Ordinance 28-0-95 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 . M " is. ity Clerk
Adopted:1 , 2005
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Lorraine H. Morton, Mayor
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