HB0843enr 91st General Assembly


91_HB0843enr

 
HB0843 Enrolled                                LRB9102030MWcs

 1        AN  ACT  to  amend  the  Park  District  Code by changing
 2    Section 5-1.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section 5.  The Park District Code is amended by changing
 6    Section 5-1 as follows:

 7        (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1)
 8        Sec.  5-1.  Each  Park District has the power to levy and
 9    collect taxes on all the taxable property in the district for
10    all corporate  purposes.  The  commissioners  may  accumulate
11    funds  for  the purposes of building repairs and improvements
12    and may annually levy taxes for such purposes  in  excess  of
13    current  requirements  for  its other purposes but subject to
14    the tax rate limitation as herein provided.
15        All general taxes proposed by the board to be levied upon
16    the taxable property within the district shall be  levied  by
17    ordinance.  A  certified copy of such levy ordinance shall be
18    filed with the county clerk of the county in which  the  same
19    is  to  be  collected  not  later  than  the  last Tuesday in
20    December in each year. The county  clerk  shall  extend  such
21    tax;  provided,  the aggregate amount of taxes levied for any
22    one year, exclusive of the amount levied for the  payment  of
23    the  principal  and  interest  on  bonded indebtedness of the
24    district and taxes authorized by special referenda shall  not
25    exceed  the rate of .10%, or the rate limitation in effect on
26    July  1,  1967,  whichever  is  greater,  of  the  value,  as
27    equalized or assessed by the Department of Revenue.
28        Any funds on hand at the end of the fiscal year that  are
29    not  pledged for or allocated to a particular purpose may, by
30    action of the board of commissioners,  be  transferred  to  a
31    capital  improvement  fund  and  accumulated therein, but the
 
HB0843 Enrolled             -2-                LRB9102030MWcs
 1    total amount accumulated in the fund may not exceed  1.5%  of
 2    the  aggregate  assessed valuation of all taxable property in
 3    the park district.
 4        The foregoing limitations upon tax rates may be increased
 5    or decreased under the referendum provisions of  the  General
 6    Revenue Law of the State of Illinois.
 7    (Source: P.A. 86-346; 87-17.)

 8        Section  99.  Effective date.  This Act takes effect upon
 9    becoming law.
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State of Illinois 91st General Assembly Legislation

State of Illinois
91st General Assembly
Legislation
