(70 ILCS 1230/3) (from Ch. 105, par. 95)
Sec. 3.
Such board of park commissioners shall have the power to pay for
any such rights, lands or territory, thus acquired, and for the
construction and protection of such park, boulevard, driveway or parkway or
such extension or connection either out of its general revenues or by the
issue and sale, from time to time, of interest bearing bonds, in addition
to the bonds now authorized by law to be issued and sold by such board of
park commissioners: Provided, no bonds shall be issued under this act
contrary to the provisions of Section 12, Article IX, of the Constitution
of this State: And, provided, further, That the proposition to issue such
bonds shall first be submitted to a vote of the legal voters of such park
district and shall receive a majority of the votes cast upon such
proposition. And authority is hereby expressly granted to the board of park
commissioners issuing such bonds to levy and collect a direct annual tax
upon the property within their jurisdiction, in addition to the amount of
any tax now authorized by law to be levied and collected by them,
sufficient to pay the interest on said bonds as it falls due and also to
pay and discharge the principal thereof within twenty (20) years from the
date of issuing said bonds, and the county clerk of the county in which
such park district is located or such other officer or officers as are by
law authorized to spread or assess taxes for park purposes shall, on
receiving a certificate from such board of park commissioners that the
amount mentioned in such certificate is necessary to pay the interest on
said bonds and also to pay and discharge the principal thereof within
twenty (20) years from the date of issuing said bonds, spread and assess
such amount upon the taxable property embraced in said park district the
same as other park taxes are by laws spread and assessed, and the same
shall be collected and paid over the same as other park taxes are required
by law to be collected and paid.
(Source: Laws 1903, p. 256.)
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