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89-97 PROVIDING FOR THE ISSUANCE OF $4,900,000 CORPORATE PURPOSE BONDS, SERIES 1989
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89-97 PROVIDING FOR THE ISSUANCE OF $4,900,000 CORPORATE PURPOSE BONDS, SERIES 1989
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8/24/2016 1:26:52 PM
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8/24/2016 1:26:50 PM
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Resolution/Ordinance
Res Ord Num
89-97
Res Ord Title
PROVIDING FOR THE ISSUANCE OF $4,900,000 CORPORATE PURPOSE BONDS, SERIES 1989, ...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
12/11/1989
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: <br /> Whenever other funds from any lawful source are made <br /> available for the purpose of paying any principal of or interest <br /> 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 <br /> proceedings, direct the deposit of such funds into the Bond Fund <br /> and further shall direct the abatement of the taxes by the amount <br /> so deposited. A certified copy of any such proceedings abating <br /> taxes shall be filed with the County Clerk of The County of <br /> Macon, Illinois, in a timely manner to effect such abatement. <br /> The City covenants and agrees with the purchasers and <br /> registered owners of the Bonds that so long as any of the Bonds <br /> remain outstanding, the City will take no action or fail to take <br /> any action which in any way would adversely affect the ability of <br /> the City to levy and collect the foregoing tax levy. The City <br /> and its officers will comply with all present and future appli- <br /> cable laws in order to assure that the Pledged Taxes may be <br /> levied, extended and collected as provided herein and deposited <br /> into the Bond Fund. <br /> Section 9. Filing with County Clerk <br /> Promptly, as soon as this Ordinance becomes effective, <br /> a copy hereof, certified by the City Clerk of the City, shall be <br /> filed with the County Clerk of The County of Macon, Illinois; and <br /> said County Clerk shall in and for each of the years 1989 to <br /> 1998, inclusive, ascertain the rate percent required to produce <br /> the aggregate tax hereinbefore provided to be levied in each of <br /> -18- <br />
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