97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3161

 

Introduced 2/1/2012, by Sen. Edward D. Maloney

 

SYNOPSIS AS INTRODUCED:
 
75 ILCS 16/40-15

    Amends the Public Library District Act of 1991. Requires that only bonds and notes with an aggregate outstanding unpaid principal balance that exceeds 0.575% of the total assessed valuation of all taxable property in the library district must be approved by a majority of the voters of the district. Provides that a referendum is not required for bonds issued to refund any judgment indebtedness, including any unpaid public benefits and amounts assessed against any library district. Effective immediately.


LRB097 19657 KMW 64911 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB3161LRB097 19657 KMW 64911 b

1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Public Library District Act of 1991 is
5amended by changing Section 40-15 as follows:
 
6    (75 ILCS 16/40-15)
7    Sec. 40-15. Voter approval of bonds.
8    (a) Except as otherwise provided in this Section, bonds and
9notes, the aggregate outstanding unpaid principal balance of
10which exceeds 0.575% of the total assessed valuation of all
11taxable property in the district, Bonds shall not be issued,
12nor the special tax imposed, until the proposition to issue the
13bonds has been submitted to and approved by a majority of the
14voters of the district voting upon the proposition at a regular
15election provided that notice of the bond referendum, if held
16before July 1, 1999, has been given in accordance with the
17provisions of Section 12-5 of the Election Code in effect at
18the time of the bond referendum, at least 10 and not more than
1945 days before the date of the election, notwithstanding the
20time for publication otherwise imposed by Section 12-5. Notices
21required in connection with the submission of public questions
22on or after July 1, 1999 shall be as set forth in Section 12-5
23of the Election Code. The board shall by ordinance designate

 

 

SB3161- 2 -LRB097 19657 KMW 64911 b

1the election at which the proposition is to be submitted and
2the amount of the bonds and their purpose. The board shall
3certify the proposition to the proper election authority, who
4shall submit the proposition in accordance with the Election
5Code, subject to the notice provisions set forth in this
6Section.
7    (b) The proposition to issue bonds shall be in
8substantially the following form:
9        Shall the bonds of (name of public library district),
10    (location), Illinois, in the amount of $(amount) be issued
11    for the purpose of (state one or more purposes authorized
12    in Section 40-5)?
13    (c) When so authorized, the bonds shall be issued in the
14name of the district, signed by the president and secretary,
15and countersigned by the treasurer, with the seal of the
16district affixed.
17    (d) This Section shall not be construed to require a
18referendum for bonds issued to refund any judgment
19indebtedness, including any unpaid public benefits and amounts
20assessed against any library district, whether due or not due
21under Division 2 of Article 9 of the Illinois Municipal Code.
22(Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99.)
 
23    Section 99. Effective date. This Act takes effect upon
24becoming law.