ORDINANCE
WHEREAS, the City of Chicago is a home rule unit of government as defined in Article VII, Section 6 (a) of the Illinois Constitution, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City has adopted its annual appropriation ordinance for the year 2018, pursuant to its powers granted by the constitution and laws of the State of Illinois; and
WHEREAS, it is now appropriate and in the best interests of the City of Chicago to enact its tax levy for the year 2018, to become effective as provided herein; and
WHEREAS, it is appropriate that the tax levy for the year 2018 receive expeditious consideration by the City Council; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION I. The sum of One Billion, Four Hundred Forty-Six Million, Three Hundred Sixty-Four Thousand Dollars ($1,446,364,000) ascertained by the City Council as the total amount of appropriations heretofore legally made for all corporate purposes to be provided for by the tax levy of the year 2018, is hereby levied for the year 2018 upon all property within the City of Chicago subject to taxation. The purposes for which appropriations have been made and the amounts appropriated for such purposes, respectively, are hereinafter specified in detail in the manner authorized for the annual appropriation ordinance for the year 2018, annexed to and made a part of this ordinance. The amounts appropriated and levied for each of said purposes, respectively, are set forth below in separate columns.
Appropriations for Expenditures and Amounts Levied for the Fiscal Year Beginning January 1, 2018, and Ending December 31, 2018
Description
Amounts to be levied in 2018 for the payment of bonds, notes and interest on bonds and notes
2005.0902 2005.0912
2005.0960
Bond Redemption and Interest Fund - 0510
For interest on first lien bonds
For payment of bonds
For loss in collection of taxes
$415,957,000 $1...
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