HomeMy WebLinkAbout70-R-24 Abating Taxes Levied for the Year 2024 Heretofore Levied to Pay Principal and Interest11 /11 /2024
70-R-24
A RESOLUTION
Abating Taxes Levied for the Year 2024
Heretofore Levied to Pay Principal and Interest on
Not to Exceed 18,500,000 General Obligations Corporate
Purpose Bonds, Series 2021, of the City of Evanston
Cook County, Illinois
WHEREAS, on the 9th day of August, 2021, the City Council of the
City of Evanston, Cook County, Illinois, did adopt Ordinance 80-0-21 entitled
AN ORDINANCE providing for the issuance of not to exceed $18,500,000
General Obligation Corporate Purpose Bonds, Series 2021, of the City of
Evanston, Cook County, Illinois, to finance capital improvements and refund
certain outstanding bonds of said City, authorizing the execution of a bond order
in connection therewith, providing for the levy and collection of a direct annual tax
for the payment of the principal of and interest on said bonds, authorizing and
directing the execution of an escrow agreement in connection with said bonds,
and authorizing and directing the sale of said bonds at public competitive sale.
WHEREAS, the Series 2021 bond total is Fourteen Million Four
Hundred Twenty Thousand Dollars ($14,420,000) there is available from other
sources the amount of Five Hundred Fifty -Eight Thousand, Five Hundred Thirty -
One Dollars ($558,531.00) which may lawfully be utilized to pay sums due on
said series 2021 bonds for which taxes were heretofore levied;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL,
OF THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the taxes heretofore levied and provided for in
the Ordinance and in the accompanying Bond Order providing for the issuance of
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70-R-24
not to exceed Eighteen Million Five Hundred Thousand Dollars ($18,500,000),
General Obligation Bonds, Series 2021, of the City of Evanston, Cook County,
Illinois, passed August 9, 2021, as Ordinance 80-0-21, be and the same hereby
are abated for the year 2024 under the Series 2021 bonds by the amount of Five
Hundred Fifty -Eight Thousand, Five Hundred Thirty -One Dollars ($558,531.00).
SECTION 2: That the City Manager, upon passage of this
Resolution 70-R-24, 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
the taxes heretofore levied under said Ordinance 80-0-21 and the accompanying
Bond Order for the year 2024 in the amount of Five Hundred Fifty -Eight
Thousand, Five Hundred Thirty -One Dollars ($558,531.00).
SECTION 3: That the foregoing recitals are hereby found as fact
and made a part hereof.
SECTION 4: That this Resolution 70-R-24 shall be in full force and
effect from and after the date of its passage and approval in the manner
provided by law.
Na/LidIsanid ez fj
Daniel Biss, Mayor
-2-
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Attest:
Stephanie Mendoza, City Clerk
Adopted: November 25, 2024
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70-R-24
Approved as to form:
Alexandra Ruggie, Corporation
Counsel
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