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�.. <br /> . f " I <br /> FINANCIAL MANAGEMENT DEPARTMENT <br /> #91 - 17 <br /> March 13, 1991 <br /> MEMO T0: The Honorable Mayor and City Council <br /> FROM: Beth B. Couter, Financial Management Director���' <br /> /� <br /> RE: Debt Service Abatements <br /> Attached is a resolution amending Resolution #88-06, as <br /> requested by the Illinois Department of Transportation, <br /> regarding the abatement of property taxes for the Garfield <br /> Overpass/Forest Crest Sewer Bond issue. 100$ of the Property <br /> taxes levied for this bond issue are abated by motor fuel taxes <br /> and special assessments . The City had been abating the levy <br /> during the years 1986-1988, with 52$ from motor fuel taxes and <br /> 48$ from special assessments. The ratio should be 48$ from <br /> motor fuel taxes and 52$ from special assessments. This <br /> amended resolution reflects the revised percentages and dollar <br /> amounts . In future years the corrected percentages will be <br /> used. Any previously abated overage and underage difference <br /> between the two funding sources will be handled through an <br /> internal booking adjustment. <br />