Rep. William Davis

Filed: 5/30/2018





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2    AMENDMENT NO. ______. Amend Senate Bill 2589, AS AMENDED,
3by replacing everything after the enacting clause with the
5    "Section 5. The Park District Code is amended by changing
6Section 6-2 as follows:
7    (70 ILCS 1205/6-2)  (from Ch. 105, par. 6-2)
8    Sec. 6-2. For the payment of land condemned or purchased
9for parks or boulevards, for the building, maintaining,
10improving and protecting of the same and for the payment of the
11expenses incident thereto, or for the acquisition of real
12estate and lands to be used as a site for an armory, or for the
13refunding of its bonds which are payable solely from the
14revenues derived from the operation of any of its facilities,
15any park district is authorized to issue the bonds or notes of
16such park district and pledge its property and credit therefor



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1to an amount including existing principal indebtedness of such
2district so that the aggregate principal indebtedness of such
3district does not exceed 2.875% of the value of the taxable
4property therein, to be ascertained by the last assessment for
5state and county taxes previous to the issue from time to time
6of such bonds or notes, unless a petition, signed by voters in
7number equal to not less than 2% of the voters of the district,
8who voted at the last general election in the district, asking
9that the authorized aggregate principal indebtedness of the
10district be increased to not more than 5.75% of the value of
11the taxable property therein, is presented to the board and
12such increase is approved by the voters of the district at a
13referendum held on the question, in which case such aggregate
14principal indebtedness may not exceed 5.75% of the value of the
15taxable property in the district. Notice of the referendum
16shall be given and the referendum conducted in the manner
17provided by the general election law. Bonds for airport
18purposes issued by a park district under Section 9-2b, and up
19to $15,000,000 in bonds issued by the Carol Stream Park
20District approved by referendum at the February 2, 2010 general
21primary election, and up to $13,000,000 in bonds issued by the
22Midlothian Park District approved by referendum at the March
2320, 2018 general primary election are not subject to the
24percentage limitations imposed by, and shall not be considered
25as part of the existing principal indebtedness of that district
26for the purposes of, this Section or any other applicable



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1statutory debt limitation.
2(Source: P.A. 97-1103, eff. 8-27-12.)
3    Section 99. Effective date. This Act takes effect upon
4becoming law.".