Item Coversheet

Item: Ordinance - Tax Abatement - $9,530,000 General Obligation Bonds
Department: Finance/Legal
 

Attached is one of two Tax Abatement Ordinances for 2018.  In the attached ordinance, the Village is abating tax debt service levies in the amount of $690,877.78 because revenue is available from other sources to pay the debt service.

 

A schedule of the individual bond issues with the amounts levied and abated starts on Page 26 of the 2018 Tax Levy. 

 

RECOMMENDATION

 

It is recommended that the Village Board approve the Ordinance Abating Taxes Levied for the Year 2018, Heretofore Levied to Pay Principal and Interest on $9,530,000 General Obligation Bonds, Series 2018, of the Village of Arlington Heights.

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2018 Tax Abatement - $9,530,000 Ordinance