HomeMy WebLinkAboutRESOLUTIONS-1995-018-R-95•
'_/23/ 95
18-R-95
A RESOLUTION
A Resolution Amending the Policy on ITebt Limits
WHEREAS, Resolution 84-PR-80 established that the principal amount of general
obligation debt to be paid through real property taxes shall not at any one time exceed fifty
million dollars($50,000,000); and
WHEREAS, the City Council of the City of Evanston wishes to provide a sound fiscal
policy concerning expenditure and taxing levels for the City of Evanston; and
WHEREAS, the City Council has adopted a long-term Budget Policy for expenditure
and tax levies; and y
• WHEREAS, the City Council is desirous of amending the policy with regard to general
obligation debt supported by the property taxes:
NOW. THEREFORE. BE IT RESOLVED by the City Council of the City of Evanston
that it shall be the policy of the City that the principal amount of general obligation debt which is
to be paid through real property taxes shall not at any one time exceed seventy five million
dollars ($75,000,000); and
BE IT FURTHER RESOLVED that the above stated limit become a part of the Cite of
Evanston Budget Policy.
�ltiG�.;il/t-ems
_Mayor
• City Clerk
Adopted: '-e�f� a21-7 .1995