HomeMy WebLinkAbout71-R-24 Abating Taxes Levied for the Year 2024 Heretofore Levied to Pay Principal and Interest11 /11 /2024
71-R-24
A RESOLUTION
Abating Taxes Levied for the Year 2024
Heretofore Levied to Pay Principal and Interest on
Not to Exceed 35,500,000 General Obligations Corporate
Purpose Bonds, Series 2024, of the City of Evanston
Cook County, Illinois
WHEREAS, on the 28th day of May, 2024. the City Council of the
City of Evanston, Cook County, Illinois, did adopt Ordinance 46-0-24 entitled
AN ORDINANCE providing for the issuance of not to exceed $35,500,000
General Obligation Corporate Purpose Bonds, Series 2024, of the City of
Evanston, Cook County, Illinois, to finance capital improvements, 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 sale of said bonds at public competitive
sale.
WHEREAS, the Series 2024 bond total is Thirty -One Million Five
Hundred Eighty Thousand Dollars ($31,580,000) there is available from other
sources the amount of Two Million Four Hundred Thirty Thousand, Six Hundred
Fifty Dollars ($2,430,650.00) which may lawfully be utilized to pay sums due on
said series 2024 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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71-R-24
not to exceed Thirty -Five Million Five Hundred Dollars ($35,500,000), General
Obligation Bonds, Series 2024, of the City of Evanston, Cook County, Illinois,
passed May 28, 2024, as Ordinance 46-0-24, be and the same hereby are
abated for the year 2024 under the Series 2024 bonds by the amount of Two
Million Four Hundred Thirty Thousand, Six Hundred Fifty Dollars
($2,430,650.00).
SECTION 2: That the City Manager, upon passage of this
Resolution 71-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 46-0-24 and the accompanying
Bond Order for the year 2024 in the amount of Two Million Four Hundred Thirty
Thousand, Six Hundred Fifty Dollars ($2,430,650.00).
SECTION 3: That the foregoing recitals are hereby found as fact
and made a part hereof.
SECTION 4: That this Resolution 71-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.
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Daniel Biss, Mayor
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Attest:
Stephanie Mendoza, City Clerk
Adopted: November 25, 2024
43-
71-R-24
Approved as to form:
Alexandra Ruggie, Corporation
Counsel
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