HomeMy WebLinkAboutORDINANCES-1967-099-O-67•
99-0-67
AN ORDINANCE
Providing for the issuance of
SEVEN HUNDRED AND FIFTY THOU-
SAND ($750,000) DOLLARS 1967
TAX ANTICIPATION WARRANTS of
the City of Evanston, Cook
County, Illinois.
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WHEREAS, this the City Council of the City of Evanston, in Cook
County, Illinois, finds that it does not have funds on hand with which to pay
the ordinary and necessary operating expenses of the City; and
WHEREAS, this City Council of the City of Evanston in Cook County,
• Illinois, has heretofore adopted its annual appropriation ordinance for the
current fiscal year, beginning January 1, 1967 and ending December 31, 1967,
in :canner, time and form required by law and has caused the same to be published,
as required by law, in the Evanston Review, as evidenced by proper proofs of
publication now a part of the official records of this City Council, and has /
also adopted the annual tax levy ordinance levying taxes, pursuant to said ap-
?ropriation ordinance; and
WHEREAS, none of said taxes so levied have heretofore been antics-
Dated by the issuance of tax anticipation warrants otherwise:
NOW THEREFORE, BE IT ORDAINED by the City Council of the City of
:,vanston,, in Cook County,, Illinois:
SECTION 1: That there be and there is hereby authorized
to be executed and delivered the 1967 Tax
• knticipation Warrants of the City of Evanston, in Cook County, Illinois, as
follows:
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• $4500000 - 1967 GENERAL CORPORATE FUND Tax Anticipation Warrants numbered
C-1 to C-90, inclusive, to be of the denomination of
$5,000 each;
$1001000 - 1967 GARBAGE FUND Tax Anticipation Warrants numbered G-1 to
G-20, inclusive, to be of •the denomination of $5,000 each;
$ 75,000 - 1967 LIBRARY FUND Tax Anticipation Warrants, numbered L-1 to L-15,,
inclusive, to be of the denomination of $5,000 each;
$1259000 - 1967 PLAYGROUND AND RECREATION FUND Tax Anticipation Warrants,
numbered PR-1 to PR-25, inclusive, to be of the denomina-
tion of $5,000 each.
That all said warrants shall. bear interest at the rate of
per cent per annum from date thereof until
paid, and shall be dated as of the date of delivery thereof; said warrants
against the respective funds shall be issued in anticipation of the collection
of taxes heretofore levied for the year 1967, by this City Council, on all of
the taxable property within this city for the respective purposes referred to
• above; said warrants shall be signed by the Mayor, be attested by the City
Clerk, and be sealed with the corporate seal of this city, and be registered
•
by the City Treasurer.
SECTION 2: That said warrants be in substantially the
followin; form:
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•
•
•
No.
CITY OF EVANSTON
County of Cook State of Illinois
FUND TAX ANTICIPATION .WARRANT
To the City Treasurer of
the City of Evanston in
Cook County, Illinois
$5,000.00
Pursuant to proceedings adopted by the City Council of
the City of Evanston, County of Cook and State of
Illinois, you are hereby directed to pay to bearer out
of taxes levied by said City Council in and for said
City in the year 19— for
purposes, as soon as funds become available, the sum of
Five Thousand'Dollars ($5,000.00) together with interest
thereon at the rate of per cent
C o) per annum from date hereof until paid, or
until notice shall be given by publication in a news-
paper or otherwise that the money for the payment hereof
is available and that this warrant.will be paid on presen-
tation; providing, however, this warrant shall be received
by any collector of taxes in payment of the taxes against
which it is issued.
This warrant is one of a series authorized, or to be
authorized, to be issued to provide a fund to meet the
ordinary and necessary expenses of the City for
purposes.
You are required by statute to set such taxes apart and
to -pay said warrants in the numerical order of their
issuance solely from said taxes when collected and not
otherwise.
Dated this day
of = 19^
ATTEST:
City Clerk
City of Evanston in Cook County,
Illinois
Registered:
City Treasurer
-3-
Mayor
City of Evanston in Cook County,
Illinois.
• SECTION 3: That the aforesaid warrants in the aggregate
principal amount of SEVEN HUNDRED AND FIFTY
THOUSAND DOLLARS ($750,000) shall be delivered,to the purchasers thereof -
namely,.
in their numerical order, and upon receipt of the purchase price heretofore
agreed upon, being the par value thereof plus accrued interest, and a premium
of $ % r 1, r, 0 ; that all of the above described warrants in the ag-
gregate principal amount of SEVEN HUNDRED AND FIFTY THOUSAND DOLLARS ($750,000)
ishall be dated as of the date of delivery to said purchaser as follows:
$450,000 - 1967 GENERAL CORPORATE FUND Tax Anticipation Warrants numbered
C-1 to C-90, inclusive, to be of the denomination of
$5,000 each;
$100,000 - 1967 GARBAGE FUND Tax Anticipation Warrants numbered G-1 to G-20,
inclusive, to be of the denomination of $5,000 each;
$ 75,000 - 1967 LIBRARY FUND Tax Anticipation Warrants, numbered L-1 to
L-15, inclusive, to be of the denomination of $5,000
each;
$125,000 - 1967 PLAYGROUND AND RECREATION FUND Tax Anticipation Warrants,
numbered PR-1 to PR-25, inclusive, to be of the denomina-
tion of $5,000 each.
The above warrants constitute the first warrants issued against said funds,
and being numbered consecutively beginning with Warrant No. 1, of each issue,
and are the only ones authorized to be sold and delivered at this time. No
additional warrants shall be sold or delivered until authorization for sale
is
and delivery is made by the City Council of the City of Evanston.
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189
SECTION 9: It is a part of the contract for the sale of
said warrants that the amount of warrants
• herein authorized does not exceed seventy-five per cent (75%) of taxes which
will be extended for the respective purposes of the year 1967, as nearly as
may be determined on the basis of the last available assessed valuation of
taxable property.
SECTION 5: That said tax levies heretofore made in the
year 1967 for said purposes be and the same,
are hereby appropriated to pay the respective warrants herein authorized to
be issued against the respective levies, The City Treasurer of this city is
directed to apply the first money received by him from said taxes for the
several purposes herein mentioned in the payment of the warrants herein
authorized to be issued against the respective levies, and to pay the same
in numerical order beginning with the lowest number (except insofar as said
warrants shall have been used to pay said taxes) and to pay said warrants as
• fast as funds become available for that purpose; said Treasurer is hereby
directed to notify-
•
when funds are available to pay any of said warrants.
SECTION 6: The City Treasurer of this City is hereby
directed to use the proceeds of said warrants
for the several purposes herein set out and not otherwise.
SECTION 7: The City Clerk of this City is hereby directed
to file a certified copy of this ordinance
with the City Treasurer of this City.
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• SECTION 8: That all ordinances or parts of ordinances in
conflict herewith be and the same are hereby
repealed and this ordinance shall be in full force and effect forthwith upon
its adoption and approval,
•
IN HMUCED ®g a)
PASSED t -Va Da
ATTEST:
,1967
„1967
APPROVED ��� a1967
7
i Mayor
Approved as to form:
Corporation Coun..el
ROLL CALL:_ VOTING AYE: Alderman Hoover, Trenbeth, Winfield, Boyer, Howell,
Ward, Harper, Beck, Spencer, Wiscomb, Cain, Nott, Jans, Marshall,
Lyons, Newberger and McCourt. Voting Nay: None, Motion carried
Absent: Alderman Emrich, Presiding: Mayor John D. Emery.
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