HomeMy WebLinkAboutORDINANCE - 2133 - 11/27/1990 - TAX ABATEMENTORDINANCE NO. 2133
AN ORDINANCE ABATING A PORTION OF THE 1990 PROPERTY
TAX LEVY FOR GENERAL OBLIGATION BONDS, SERIES 1987
AND FOR GENERAL OBLIGATION BONDS, SERIES 1989
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of ELk Grove Village, Counties of Cook
and DuPage, Illinois, to abate a portion of the 1990 Property Tax
Levy as follows:
Section 1: That the County Clerks of Cook & DuPage
Counties, are hereby authorized and directed to abate $702,.263
from the 1990 taxes levied in Section 10 of Ordinance No. 1930,
an ordinance providing for the issuance of $5,000,000 General
Obligation Bonds, Series 1987 (HELP) of the Village of Elk Grove
Village, as amended by "Notification of Sale and Direction for
Abatement of Taxes" a copy of which was filed with each of said
County Clerks in December 1987.
Section 2: That the County Clerks of Cook & DuPage
Counties, are hereby authorized and directed to abate $479,708
from the 1990 taxes levied in Section 11 of Ordinance No. 2048,
an ordinance providing for the issuance of $10,000,000 General
Obligation Bands, Series 1989, of the Village of Elk Grove
Village, Counties of Cook and DuPage, Illinois.
Section 3: That the Village Clerk is hereby authorized and
directed to file a certified copy of this Ordinance with the
County Clerks of Cook and DuPage Counties, Illinois, prior to
December 31, 1990.
Section 4: That the Village Clerk is hereby authorized to
publish this ordinance in pamphlet form.
Section That this ordinance shall be in full force and
effect from and after its passage, approval and publication
according to law.
VOTE:
AYE:
5
------
NAY: ------
ABSENT: ------
1
Passed
this
-27th-
-----------
day of
November ----
- -
1990.
Approved
this
27th
day of
November
1?90.
_0heS3g�L-Js -Z-eTtQk----------
Village President
Attest:
Patricia S. Smith
------------------------
Village Clerk
November 14, 1990
TO: C. A Willis, Village Manager
FROM. --
G r oney, Director of nance
J
SUBJECT: 1990 Tax Levy and Abatement dirances
An ordinance authorizing the 1990 property tax levy in the amount
of 58,81o,213 is attached for Village Board consideration at
their meeting on November 27, 1990. The tax levy ordinance must
be approved by the President and Board of Trustees and filed by
the Village Clerk with the County Clerks of Cook and DuPage
Counties on or before December 11th, the second Tuesday in
December.
Attached is an ordinance which also requires Village Board
approval to abate a portion of the 1990 levy. The Levy for the
General Obligation Bonds, Series 1987 (HELP? is $702,263 and will
be abated by payments received from the fifteen members of HELP.
Also included in the attached ordinance is the abatement of
$479,708 for the Library's portion of the General Obligation
Bonds, Series 1989. The Library's portion of the debt service
for this issue is included in their tax levy request as a
reimbursement to the Village; therefore, an abatement for that
portion of the levy is necessary.
I respectfully request Village Board consideration of these two
ordinances at the November 27, 1990 board meeting.
c: Patricia Smith, Village CLerk