(65 ILCS 5/11-128-1)
(from Ch. 24, par. 11-128-1)
Subject to the provisions of Section 11-128-3, each
city and village may levy, in addition to the taxes now authorized by
law and in addition to the amount authorized to be levied for general
purposes as provided by Section 8-3-1, a direct annual tax of not more
than .1666% of the value, as equalized or assessed by the Department of
Revenue, upon all the property within the corporate
limits of the city or village. This tax is payable yearly for a period
of not more than 30 years. The proceeds of this tax shall be used solely
for the purchase, construction, and enlargement of waterworks.
The foregoing limitation upon tax rates in municipalities of less
than 1,000,000 population may be increased or decreased according to the
referendum provisions of the General Revenue Law of Illinois.
(Source: P.A. 81-1509.)