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2004-21 PROVIDING FOR ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2004B
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2004-21 PROVIDING FOR ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES 2004B
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1/27/2016 3:32:24 PM
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1/27/2016 3:32:20 PM
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Resolution/Ordinance
Res Ord Num
2004-21
Res Ord Title
PROVIDING FOR THE ISSUANCE OF $29,070,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 2004B, AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Approved Date
3/15/2004
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applicable laws in order to assure that the Pledged Taxes mny be levied, extended and collected <br /> as provided herein and deposited into the Bond Fund. <br /> Whenever other funds from any lawful source are made available for the purpose of <br /> paying any principal of or interest on the Bonds so as to enable the abatement of the taxes levied <br /> herein for the payment of same, the Council shall, by proper proceedings, direct the deposit of <br /> such funds into the Bond Fund and further shall direct the abatement of the taxes by the amount <br /> so deposited. A certified copy or other notification of any such proceedings abating taxes may <br /> then be filed with the County Clerk in a timely manner to effect such abatement. <br /> Section 12. Filing with Coccnty Clerk. Promptly, as soon as this Ordinance becomes <br /> effective, a copy hereof, certified by the City Clerk of the City, shall be filed with the County <br /> Clerk; and the County Clerk shall in and for each of the years 2004 to 2023, inclusive, ascertain <br /> the rate percent required to produce the aggregate tax hereinbefore provided to be levied in each <br /> of said years; and the County Clerk shall extend the same for collection on the tax books in <br /> connection with other taxes levied in said years in and by the City for general corporate <br /> purposes of the City; and in said years such annual tax shall be levied and collected by and for <br /> and on behalf of the City in like manner as taxes for general corporate purposes for said years <br /> are levied and collected, and in addition to and in excess of all other taxes. <br /> Section 13. Sale of Bonds. The Bonds hereby authorized shall be executed as in this <br /> Ordinance provided as soon after the passage hereof as may be, and thereupon be deposited with <br /> the Treasurer of the City, and be by said Treasurer delivered to ABN AMRO Financial Services, <br /> Inc., Chicago, Illinois, the purchaser thereof (the "Purchaser"), upon receipt of the purchase <br /> price therefor, the same being $28,966,075.40; the contract for the sale of the Bonds heretofore <br /> entered into (the "Purchase Contract") is in all respects ratified, approved and confirmed, it <br /> being hereby found and determined that the Bonds have been sold at such price and bear interest <br /> -25- <br />
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