2016-100 Ordinance Abating Property Tax Levy for General Obligation 2016 Series Bonds

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ORDINANCE NO. 2016-1 0 0 AN ORDINANCE ABATING THE PROPERTY TAX LEVY FOR THE CITY OF DECATUR,ILLINOIS FOR GENERAL OBLIGATION 2016 SERIES BONDS WHEREAS, by Ordinance No. 2016-70 passed and adopted on October 17, 2016, the City Council of the City of Decatur, Illinois, caused general obligation bonds of the City to be issued and did levy therein certain sums to pay principal and interest on said bonds; and WHEREAS, funds other than those raised by general taxation have or will become available to timely pay such principal and interest as the same become due in fiscal year commencing January 1, 2017 and ending December 31, 2017. NOW, THEREFORE, BE IT ORDANIED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That the following tax levies for interest on and principal of the indicated bonds for the year commencing January 1, 2017 and ending December 31, 2017, be, and the same are hereby abated as follows: Ordinance No and Bond Issue Ordinance Tax Levy Abatement Net Tax Levy 2016-70 GO Bond Series 2016 1,742,706.26 1,742,706.26 0.00 Section 2. That the County Clerk of the County of Macon, Illinois, be, and is hereby authorized and directed to fully abate said levy and to extend the same as so abated for the 2016 assessed value year with property tax payable in 2017. Section 3. That the City Clerk be, and is hereby authorized and directed to cause a certified copy of this Ordinance to be filed with the County Clerk of the County of Macon, Illinois. PRESENTED, ADOPTED AND RECORED this 5th day of December,2016. J e Moore olfe, Mayor ATTEST: CITY CLEICI