ORDINANCE
WHEREAS, on June 24, 2004, the City of Chicago (the "City") issued its Taxable General Obligation Bonds (Emergency Telephone System), Series 2004 (the "Bonds") for the purpose of financing certain costs for capital improvements and working capital related to public safety; and
WHEREAS, the City provided by ordinance adopted on May 26] 2004, for the levy and collection of a direct annual tax sufficient to pay the principal pf and interest on the Bonds as and when the same became due and payable, said tax levy ordinance having been filed with the County Clerks of Cook and DuPage Counties; and
WHEREAS, the 2015 Annual Appropriation Ordinance provided .for a reduction in the 2015 tax levy on certain long-term bonds and notes; and '
WHEREAS, it is now appropriate and in the best interests of;the!City that a portion of the amount of taxes levied for the Bonds should be abated; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The County Clerks of Cook and DuPage Counties, Illinois, are hereby authorized and directed to reduce the total amount of 2015 taxes to be extended for the purpose of providing revenue for the payment of principal of and interest on the Bonds by the sum of $5,898,738.
SECTION 2. The City Clerk is hereby directed to present to and file with the County Clerks of Cook and DuPage Counties, Illinois, a copy of this ordinance duly certified by said City Clerk.
SECTION 3. This ordinance shall take effect and be in full force from and after its passage and approval. ,
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S:\SHARED\Finance\MONROE\Abatements\2015
2004 911 Bonds.doc
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAIIM EMANUtL
MAYOR
November 18,2015
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the City Comptroller, I transmit herewith ordinance authorizing abatements of 2015 debt ser...
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