(70 ILCS 2105/17)
(from Ch. 42, par. 400)
The board of trustees annually may levy and collect taxes
for corporate purposes upon property within the territorial limits of
such conservancy district, the aggregate amount of which for each year
shall not exceed .083% of the value, as equalized or assessed by the
Department of Revenue, of the taxable property within
the corporate limits. Such annual tax levy may be increased to .75% in
any district having a population of less than 25,000, and to .375% in
any district having 25,000 inhabitants or more, when such increased tax
has been authorized by the legal voters of such district at a referendum
in accordance with the general election law.
The right to levy such additional tax, authorized by the legal voters
of the District, may at any time after one or more tax levies be
terminated by a majority vote of the electors of such district at a referendum.
Upon the petition of 10% of registered voters of the district, it shall
be the duty of the trustees of any such district
to certify the proposition to terminate such additional taxing power
to the proper election officials who shall submit the proposition at an
election in accordance with the general election law.
The board shall cause the amount required to be raised by taxation in
each year to be certified to the county clerks in each county within
such district on or before the second Tuesday in August, as provided in
the General Revenue Law of Illinois. All taxes so levied and certified
shall be collected and enforced in the same manner and by the same
officers as State and county taxes, and shall be paid over by the
officer or officers collecting the same to the treasurer of the
conservancy district in the manner and at the time provided by the
General Revenue Law of Illinois.
The treasurer shall, when the moneys of the district are deposited
with any bank or savings and loan association,
require such bank or savings and loan association
to pay the same rates of interest for such moneys deposited as such bank
or savings and loan association is accustomed to
pay depositors under like
circumstances in the usual course of its business. All interest so paid
shall be placed in the general fund of the district, to be used as other
moneys belonging to such district raised by general taxation.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of "An Act relating to certain investments of public
funds by public agencies", approved July 23, 1943, as now or hereafter amended.
(Source: P.A. 83-541.)