(65 ILCS 5/11-127-1) (from Ch. 24, par. 11-127-1)
Sec. 11-127-1.
In all municipalities where waterworks have been
constructed, the corporate authorities of the municipality may purchase
or lease the waterworks from the owner thereof. However, such a lease or
purchase is not binding upon the municipality until the corporate
authorities pass an ordinance which includes the terms of the lease or
purchase therein. This ordinance shall be published at least once,
within 10 days after passage, in one or more newspapers published in the
municipality, or, if no newspaper is published therein, then in one or
more newspapers with a general circulation within the municipality. In
municipalities with less than 500 population in which no newspaper is
published, publication may instead be made by posting a notice in 3
prominent places within the municipality.
The publication or posting of the ordinance shall be accompanied by a
notice of (1) the specific number of voters required to sign a petition
requesting the question of authorizing the purchase or lease of waterworks
to be submitted to the electors; (2) the time in which such petition must
be filed; and (3) the date of the prospective referendum. The city clerk
shall provide a petition form to any individual requesting one.
If no petition is submitted to the corporate authorities, as provided
in this section, within 30 days after the ordinance is so published and
posted, the corporate authorities may consummate the lease or purchase
provided for in the ordinance. But if within this period of 30 days
there is presented to the corporate authorities a petition signed by
electors of the municipality numbering 10% or more of the number of
registered voters in the municipality asking that the question, whether the
lease or purchase should be made, be submitted to a vote, the corporate
authorities by ordinance shall designate the election at which the electors
of the municipality may vote upon that question and the city clerk shall
promptly certify the proposition for submission. If a
majority of the electors voting upon that question vote
in favor of making the lease or purchase, then the corporate authorities
shall proceed to complete the lease or purchase. But if a majority of
the votes cast on the question are against the lease or purchase, the
corporate authorities shall proceed no further with the lease or
purchase for the period of 6 months next ensuing.
(Source: P.A. 87-767.)
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