(75 ILCS 16/40-20)
Funds instead of bonds.
(a) If the board of trustees determines to provide funds for any or all of the
purposes authorized in Section 40-5 by
the annual certification and apportionment of costs (instead of issuing
bonds for that purpose), the board shall divide
the total cost of the plan into
as many parts as the trustees determine to spread the collection of that
and shall by ordinance certify the amount of one of these parts each year
during the term over which the trustees have determined to spread the
collection. The ordinance shall be irrepealable by the Board.
(b) The board shall, in each succeeding annual appropriation ordinance,
include an amount certified under subsection (a) and shall, for
the amount so certified,
either include that amount in the annual library tax levy
or levy (in addition to the other library taxes for the district) a
special tax to pay that amount.
(Source: P.A. 87-1277.)