Department of Finance
CITY OF CHICAGO
January 15, 2013
To the Honorable Rahm Emanuel, Mayor, and the Members of the City Council of Chicago:
Attached herewith, in accordance with the provisions of the Ordinances authorizing the issuance of the City's General Obligation Bonds, Series 2007A -K (Modern Schools Across Chicago Program) and the General Obligation Bonds Series 2010 (Modern Schools Across Chicago Program), is the Certificate of Tax Abatement filed with the County Clerks of Cook and DuPage Counties abating the 2012 property tax levy for the bond issues. Under the above-mentioned Ordinances, the Chief Financial Officer is directed td abate the property taxes levied for the bond issues if sufficient funds are held with the depository.
Sincerely,
Lois A. Scott Chief Financial Officer
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33 NORTH LASALLE STREET, SUITE 600, CHICAGO, ILLINOIS 60602
Department of Finance
CITY OF CHICAGO
NOTIFICATION AND DIRECTION FOR ABATEMENT OF CERTAIN TAXES LEVIED FOR THE YEAR 2012 TO PAY PRINCIPAL OF AND INTEREST ON THE $356,005,000 CITY OF CHICAGO GENERAL OBLIGATION BONDS, SERIES 2007A - K (MODERN SCHOOLS ACROSS CHICAGO PROGRAM) AND THE $150,115,000 CITY OF CHICAGO GENERAL OBLIGATION BONDS, SERIES 2010 (MODERN SCHOOLS ACROSS CHICAGO PROGRAM)
STATE OF ILLINOIS )
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COUNTY OF COOK )
To: The County Clerks of Cook and DuPage Counties:
Please be advised that on December 13, 2006, the City Council of the City of Chicago (the "City") adopted an ordinance (the "2006 Ordinance") authorizing the issuance of $356,005,000 City of Chicago General Obligation Bonds, Series 2007A - K (Modern Schools Across Chicago Program) (the "2007 Bonds"). Pursuant to the 2006 Ordinance as amended by ordinances adopted on May 12, 2010 and July 28, 2010 as (as amended, the "Ordinance") the City issued $150,115,000 City of Chicago General Obligation Bonds Series 2010 (Modern Schools Across Chicago Program) (the "2010 Bonds"). The 2006 Ordinance further authorized the abatement of certain taxes levied with respect to the 2007 Bonds and the 2010 Bonds if certain other funds are available. The Ordinance is now in full force and effect, and a copy thereof, certified by the City Clerk of the City, has heretofore been filed in your office.
YOU ARE HEREBY ORDERED AND DIRECTED to abate from the taxes levied in Section 7 of the 2006 Ordinance, the amount of such abatement and the remainder of such taxes so levied which is to be extended for collection being as follows:
Amount of Tax Levied In Reduction Resulting from availability Remainder of Tax Levied and
Year of Ordinance of other funds for 2007 Bonds and Which is to Be Extended for
Lew (as Previously Abated) 2010 Bonds Collection
2012 $100,000,000 100,000,000 -0-
IN WITNESS WHEREOF, I hereunto affix my official signature at Chicago, Illinois, this 15th day of January, 2013.
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33 NORTH LASALLE STREET, SUITE COO, CHICAGO, ILLINOIS 050602