093_SB1565

 
                                     LRB093 02945 RCE 02961 b

 1        AN ACT in relation to airports.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Airport  Authorities Act is amended by
 5    changing Section 2a.1 as follows:

 6        (70 ILCS 5/2a.1) (from Ch. 15 1/2, par. 68.2a1)
 7        Sec. 2a.1 Petition; setting forth tax rate. The  petition
 8    may,  in  addition to the matters required to be set forth in
 9    Section 2.1, also set forth a tax rate,  not  to  exceed  the
10    rate specified in Section 13, as the maximum tax rate for the
11    proposed  Authority.  In such case, the such proposed maximum
12    tax rate shall be included in the  proposition  submitted  as
13    provided  in  Section 2.3, and, in the event the Authority is
14    established, the aggregate amount of its taxes  for  any  one
15    year,  exclusive of the amount levied for bonded indebtedness
16    or interest thereon, shall not exceed such maximum tax  rate,
17    unless an increase in such maximum rate is authorized by vote
18    of  the  electors within the Authority as provided in Section
19    13.1.
20    (Source: Laws 1963, p. 1837.)