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Public Act 91-0293
HB0841 Enrolled LRB9102029MWgc
AN ACT to amend the Park District Code by changing
Section 6-4.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Park District Code is amended by changing
Section 6-4 as follows:
(70 ILCS 1205/6-4) (from Ch. 105, par. 6-4)
Sec. 6-4. The issue of bonds or notes by any park
district shall be authorized by ordinance, and a copy of that
ordinance properly certified by the secretary shall be filed
in the office of the clerk in each of the counties wherein
such district lies. Except as otherwise provided in this
Section, bonds and notes the aggregate outstanding unpaid
principal balance of which exceeds 0.575% of the total
assessed valuation of all taxable property in the district
may not be issued by any park district, until the proposition
to issue the same has been certified by the secretary to the
proper election officials who shall submit the proposition at
an election in accordance with the general election law.
Notice of the referendum shall be given and the referendum
shall be conducted in the manner provided by the general
election law.
Submission of any proposition of issuing bonds or notes
shall be authorized by resolution to be adopted by the board
which shall designate the election at which the proposition
is to be submitted and designate the amount of bonds and
purpose for which the bonds are to be issued.
Any proposition to issue bonds shall be in substantially
the following form:
-------------------------------------------------------------
Shall bonds or notes of the
..... Park District (name it) to YES
the amount of..... Dollars
($.....) be issued for the ---------------------------
purpose of.....? (Here insert
any one or more of the NO
purposes authorized in
Section 6-2 hereof)
-------------------------------------------------------------
This Section shall not be construed to require a referendum
for bonds issued under Section 9-2b nor for bonds to refund
any maturing bond issues as provided in the Park District
Refunding Bond Act "An Act authorizing any park district to
issue refunding bonds and to provide for the levy of taxes
for the payment thereof", approved August 15, 1941, or to
refund any judgment indebtedness including any unpaid public
benefits and amounts assessed against any park district,
whether due or not due under Division 2 of Article 9 of the
Illinois Municipal Code, but bonds may be issued for such
purposes without referendum.
Bonds heretofore or hereafter issued and outstanding that
are approved by referendum, bonds issued under this Section
that have been paid in full or for which provisions for
payment have been made by an irrevocable deposit of funds in
an amount sufficient to pay the principal and interest on
those bonds to their respective maturity date, non-referendum
bonds issued under any other provision of this Act, and
bonded indebtedness assumed from another park district do not
limit in any way the right of a park district to issue
non-referendum bonds in accordance with this Section.
This Section shall not be construed to permit issuance of
bonds for the purpose of refunding revenue bonds as provided
in Section 6-2 until the proposition to issue the same has
been submitted as herein provided at an election in
accordance with the general election law.
(Source: P.A. 86-494.)
Section 99. Effective date. This Act takes effect upon
becoming law.
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