Rep. William Davis

Filed: 5/15/2018





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2    AMENDMENT NO. ______. Amend House Bill 4890 by replacing
3everything after the enacting clause with the following:
4    "Section 5. The Park District Code is amended by changing
5Section 6-2 as follows:
6    (70 ILCS 1205/6-2)  (from Ch. 105, par. 6-2)
7    Sec. 6-2. For the payment of land condemned or purchased
8for parks or boulevards, for the building, maintaining,
9improving and protecting of the same and for the payment of the
10expenses incident thereto, or for the acquisition of real
11estate and lands to be used as a site for an armory, or for the
12refunding of its bonds which are payable solely from the
13revenues derived from the operation of any of its facilities,
14any park district is authorized to issue the bonds or notes of
15such park district and pledge its property and credit therefor
16to an amount including existing principal indebtedness of such



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1district so that the aggregate principal indebtedness of such
2district does not exceed 2.875% of the value of the taxable
3property therein, to be ascertained by the last assessment for
4state and county taxes previous to the issue from time to time
5of such bonds or notes, unless a petition, signed by voters in
6number equal to not less than 2% of the voters of the district,
7who voted at the last general election in the district, asking
8that the authorized aggregate principal indebtedness of the
9district be increased to not more than 5.75% of the value of
10the taxable property therein, is presented to the board and
11such increase is approved by the voters of the district at a
12referendum held on the question, in which case such aggregate
13principal indebtedness may not exceed 5.75% of the value of the
14taxable property in the district. Notice of the referendum
15shall be given and the referendum conducted in the manner
16provided by the general election law. Bonds for airport
17purposes issued by a park district under Section 9-2b, and up
18to $15,000,000 in bonds issued by the Carol Stream Park
19District approved by referendum at the February 2, 2010 general
20primary election, and up to $13,000,000 in bonds issued by the
21Midlothian Park District approved by referendum at the March
2220, 2018 general primary election are not subject to the
23percentage limitations imposed by, and shall not be considered
24as part of the existing principal indebtedness of that district
25for the purposes of, this Section or any other applicable
26statutory debt limitation.



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1(Source: P.A. 97-1103, eff. 8-27-12.)
2    Section 99. Effective date. This Act takes effect upon
3becoming law.".