Department of Finance city of chicago
To: Distribution
From: Lois A. Scott, if:
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Chief Financial Officer
Date: February 7,2014
Subject: Abatement of 2013 Levy for
General Obligation Bonds Taxable Project Scries 201 OB Build America Bonds- Direct Payment)
For your information, attached is a copy of the memorandum sent to the members of the City Council of the City of Chicago and the abatement certificate filed with the County Clerks of Cook and DuPage Counties abating the 2013 property tax levy for the bond issue. Under the bond ordinance, the Chief Financial Officer has the authority to abate the property taxes levied if sufficient funds are held with the depository.
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Reshma Soni ^h so o-j
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Steve Patton fr>"~n 2
Matthew Hynes Pp p~
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Michael Gaynor *"^2r Karen Rakestraw Michael Finn
LAS:kr/ja
121 NORTH LAS ALL E STREET, ROOM 700. CHICAGO, ILLINOIS 60602
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Department of Finance
CITY OF CHICAGO
February 7, 2014
To the Honorable Rahm limanuel, Mayor, and the Members of the City Council of Chicago:
Attached herewith, in accordance with the provisions of the ordinance authorizing the issuance of City of Chicago General Obligation Bonds Taxable Project Series 2010 B (Build America Bonds-Direct Payment) is the Certificate of Tax Abatement filed with the County Clerks of Cook and DuPage Counties abating the 2013 property tax levy for the bond issue. Under the above-mentioned ordinance, the Chief Financial Officer is directed to abate the property taxes levied for the bond issue if sufficient funds are held with the depository.
Sincerely,
Lois A. Scott Chief Financial Officer
LAS:kr/ja
12J NORTH LASALLE STREET. ROOM 700, CHICAGO, ILLINOIS 60602
Department of Finance city of chicago
NOTIFICATION AND DIRECTION FOR ABATEMENT OF CERTAIN TAXES LEVIED FOR THE YEAR 2013 TO PAY PRINCIPAL OF AND INTEREST ON THE $213,555,000 IN CITY OF CHICAGO GENERAL OBLIGATION BONDS, TAXABLE PROJECT SERIES 201 OB (BUILD AMERICA BONDS-DIRECT PAYMENT)
STATE OF ILLINOIS )
) SS:
COUNTY OF COOK )
To: The County Clerks of Cook and DuPage Counties:
Please be advised that on July 28, 2010, the City Council (the "City Council") of the City of Chicago (the "City") adopted an ordinance (the "Ordinance") authorizing the issuance $213,555,000 General Obligation Bonds Taxable Project Series 2010B (Build America Bonds-Direct Payment), and, in connection therewith, the abatement of certain taxes with respect thereto. 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 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 General Remainder of Tax Levied and
Year of Ordinance Obligation Bonds, Series 20I0B Which is to Be Extended for
Levy (as Previously Abated) Federal Subsidy Payment Received Collection
2013 39,344,575 5,171,853 34,172,722
121 NORTH LASA1.LE STREET. ROOM 700. CHICAGO ILLINOIS 60602
IN WITNESS WHEREOF, I hereunto affix my official signature at Chicago, Illinois, this 7th day of February, 2014.
Department of Finance
CITY OF CHICAGO
February 7, 2014
Mr. David Orr
Cook County Clerk
Office of the County Clerk
118 North Clark Street, Room 434
Chicago, Illinois 60602
Dear Mr. Orr:
Attached herewith, in accordance with the provisions of the ordinance authorizing the issuance of the City of Chicago General Obligation Bonds Taxable Project, Series 2010 B (Build America Bonds-Direct Payment), is a Certificate of Tax Abatement to be filed with your office abating the 2013 property tax levies for the bond issue.
If you have any questions, please call Reshma Soni, Managing Deputy Comptroller at (312) 744-3013.
Sincerely,
itdis A. Scott-' Chief Financial Officer
LAS:kr/ja
121 NORTH 1,/VSALIiE STREET. ROOM 700, CHICAGO, ILLINOIS 60602
Department of Finance city of chicago
CERTIFICATE OF THE COUNTY CLERK OF COOK COUNTY REGARDING CERTAIN TAX ABATEMENT FILING
I, DAVID D. ORR, County Clerk of THE COUNTY OF COOK, ILLINOIS (the
"County"), do hereby certify that on the day of , 201 , there has been
filed in my office as tax extension officer of the County and remains on file in my office the following document:
A certificate of the Chief Financial Officer of the City of Chicago, Illinois, (the "City") dated February 7, 2014, entitled "NOTIFICATION AND DIRECTION FOR ABATEMENT OF CERTAIN TAXES LEVIED FOR THE YEAR 2013 TO PAY PRINCIPAL OF AND INTEREST ON THE $213,555,000 IN CITY OF CHICAGO GENERAL OBLIGATION BONDS, TAXABLE PROJECT SERIES 2010B (BUILD AMERICA BONDS-DIRECT PAYMENT).
IN WITNESS WHEREOF I have set my hand affixed the seal of the COUNTY
OF COOK, ILLINOIS, at Chicago, Illinois, this day of , 20__.
County Clerk of the County of Cook, Illinois
[SEAL]
121 NORTH LA.SALLE STREET. ROOM 700. CHICAGO, ILLINOIS 60602
Department of Finance
CITY OF CHICAGO
February 7,2014
Mr. Gary A. King DuPage County Clerk Office of the County Clerk 421 North County Farm Road Wheaton, Illinois 60187
Dear Mr. King:
Attached herewith, in accordance with the provisions of the ordinance authorizing the issuance of General Obligation Bonds Taxable Project Series 2010 B (Build America Bonds - Direct Payment), is a Certificate of Tax Abatement to be filed with your office abating the 2013 property tax levies for the bond issue.
If you have any questions, please call Reshma Soni. Managing Deputy Comptroller at (312)744-3013.
Sincerely,
Irois A. Scott Chief Financial Officer
LAS:kr/ja
121 NORTH LASALLE STREET. ROOM 700. CHICAGO, ILLINOIS 60602
Department of Finance
CITY OF CHICAGO
CERTIFICATE OF THE COUNTY CLERK OF DUPAGE COUNTY REGARDING CERTAIN TAX ABATEMENT FILING
I, GARY A. KING, County Clerk of TI IE COUNTY OF DUPAGE, ILLINOIS (the
"County"), do hereby certify that on the day of , 201_, there has been filed in
my office as tax extension officer of the County and remains on file in my office the following document:
A certificate of the Chief Financial Officer of the City of Chicago, Illinois dated February 7, 2014, entitled "NOTIFICATION AND DIRECTION FOR ABATEMENT OF CERTAIN TAXES LEVIED FOR THE YEAR 2013 TO PAY PRINCIPAL OF AND INTEREST ON $213,555,000 CITY OF CHICAGO GENERAL OBLIGATION BONDS, TAXABLE PROJECT SERIES 2010B (BUILD AMERICA BONDS-DIRECT PAYMENT)."
IN WITNESS WHEREOF, I have set my hand affixed the seal of the COUNTY OF DUPAGE,
ILLINOIS, at Wheaton, Illinois, this day of , 20_.
County Clerk of the County of DuPage, Illinois
[SEAL]
121 NORTH LASALLE STREET, ROOM 700, CHICAGO, ILLINOIS 60602