HomeMy WebLinkAboutRESOLUTIONS-2006-048-R-0648-R-06
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A RESOLUTION
Abating Taxes Heretofore Levied to Pay Principal and Interest on
$1,850,000 Corporate Purpose Bonds, Series 1994 Taxable of the
City of Evanston, Cook County, Illinois
WHEREAS, The City Council of the City of Evanston, Cook County,
Illinois, did on the 28th day of March 1994 adopt Ordinance 23-0-94, an
Ordinance entitled:
An Ordinance providing for the issuance of $1,850,000 General Obligation
Corporate Purpose Bonds, Series 1994 Taxable, 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 23 -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 Taxable, the remaining levies being as follows:
Year
Amount Levied
2005
$190,110.00
2006
$187,760.00
2007
$189, 990.00
2008
$191,480.00
2009
$187,105.00
2010
$187,355.00
2011
$186,785.00
2012
$185,460.00
2013
$188,300.00
And
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
0 refund the interest on and principal of the Refunded Bonds and pay such
principal on the earliest Call Date for the Refunded Bonds (these bonds have
now been entirely redeemed). 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 Taxable for the years and in the amounts as
follows:
Year
Amount Levied
Amount to be
Abated
2005
$190,110.00
All
2006
$187,760.00
All
2007
$189,990.00
All
2008
$191,480.00
All
2009
$187,105.00
All
2010
$187,355.00
All
2011
$186,785.00
All
2012
$185,460.00
All
2013
$188,300.00
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 taxes heretofore levied
under said Ordinance 23-0-94 and the accompanying Bond Order for all the levy
years listed in this Resolution.
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SECTION 3: That this Resolution shall be in force and effect from and after its
passage and approval in the manner provided by law.
Attest:
n
LJ
I• -I
LA
rraine H. Mortor,00,'Mayor
, 2006