65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-23-12

(65 ILCS 5/11-23-12) (from Ch. 24, par. 11-23-12)

Sec. 11-23-12.

All public hospitals which were established and maintained,
or purchased and maintained, under "An Act in relation to the
establishment, purchase and maintenance of public hospitals in cities of
less than one hundred thousand inhabitants," approved June 30, 1919, as
amended, and which were being maintained immediately prior to January 1,
1942, shall be treated as properly established or purchased under this
Division 23 and may be continued to be maintained under this Division 23.
All cities whose electors have approved the levy of an annual tax for
establishing and maintaining, or purchasing and maintaining, a public
hospital under that Act may continue to levy the tax under this Division 23
without submitting the question of its levy to the electors for approval.
The directors, other officers, and employees appointed under that Act who
were in office or employed immediately prior to January 1, 1942 shall
continue in their offices and employments under this Division 23 until the
respective terms for which they were appointed have expired, subject to the
provisions of this Division 23 as to removal.

(Source: Laws 1961, p. 576.)

65 ILCS 5/11-23-13

(65 ILCS 5/11-23-13) (from Ch. 24, par. 11-23-13)

Sec. 11-23-13.

The corporate authorities of any city with a population of
less than 100,000 which has established a public hospital is authorized to
issue and sell revenue bonds payable from the revenue derived from the
operation of the hospital for the purpose of (1) reconstructing, repairing,
remodeling, or extending, or (2) equipping or improving an existing
hospital building or buildings, or any addition or extension thereto or (3)
constructing and equipping a new hospital to replace an existing hospital
and acquiring a site therefor, or (4) refunding any such revenue bonds
theretofore issued from time to time when deemed necessary or advantageous
in the public interest. These bonds shall be authorized by an ordinance
without submission thereof to the electors of the city, shall mature at
such time not to exceed 40 years from the date of issue, and bear such rate
of interest not to exceed the maximum rate authorized by the Bond
Authorization Act, as amended at the time of the making of the contract,
payable annually or semiannually as the corporate authorities may
determine, and may be sold by the corporate authorities in such manner as
they deem best in the public interest. However, such bonds shall be sold at
such price that the interest cost of the proceeds therefrom will not exceed
7% per annum, based on the average maturity of such bonds and computed
according to standard tables of bond values.

With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been supplementary
grants of power to issue instruments in accordance with the Omnibus Bond
Acts, regardless of any provision of this Act that may appear to be or to
have been more restrictive than those Acts, (ii) that the provisions of
this Section are not a limitation on the supplementary authority granted by
the Omnibus Bond Acts, and (iii) that instruments issued under this Section
within the supplementary authority granted by the Omnibus Bond Acts are not
invalid because of any provision of this Act that may appear to be or to
have been more restrictive than those Acts.

The amendatory Acts of 1971, 1972 and 1973 are not a limit upon any
municipality which is a home rule unit.

(Source: P.A. 86-4.)