(70 ILCS 200/190-30)
Sec. 190-30.
Tax.
If a majority of the voters of said
metropolitan area approve the
issuance of bonds as provided in Section 190-25, the
Authority
shall have power to levy and collect annually a sum sufficient to pay
for the annual principal and interest charges on such bonds.
Such taxes proposed by the Authority to be levied upon the taxable
property within the metropolitan area shall be levied by ordinance.
After the ordinance has been adopted it shall, within 10 days after its
passage, be published once in a newspaper published and having a general
circulation within the metropolitan area. A certified copy of such levy
ordinance shall be filed with the county clerk no later than the 3rd
Tuesday in September in each year. Thereupon the county clerk shall
extend such tax; provided the aggregate amount of taxes levied for any
one year shall not exceed the rate of .0005% of the full fair cash
value of the taxable property in the metropolitan area, as equalized or
assessed by the Department of Revenue.
(Source: P.A. 90-328, eff. 1-1-98.)
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