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SB2054 Enrolled |
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LRB094 07330 AJO 42315 b |
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Park District Code is amended by changing |
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| Section 6-4 as follows:
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| (70 ILCS 1205/6-4) (from Ch. 105, par. 6-4)
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| Sec. 6-4. The issue of bonds or notes by any park district |
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| shall be
authorized by ordinance, and a copy of that ordinance |
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| properly certified
by the secretary shall be filed in the |
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| office of the clerk in each of
the counties wherein such |
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| district lies. Except as otherwise provided
in this Section, |
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| bonds and notes the aggregate outstanding unpaid
principal |
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| balance of which exceeds 0.575% of the total assessed valuation
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| of all taxable property in the district may not be issued by |
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| any park
district, until the proposition to issue the same has |
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| been certified by the
secretary to the proper election |
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| officials who shall submit the proposition
at an election in |
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| accordance with the general election law. Notice of the
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| referendum shall be given and the referendum shall be conducted |
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| in the
manner provided by the general election law.
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| Submission of any proposition of issuing bonds or notes |
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| shall be
authorized by resolution to be adopted by the board |
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| which shall designate the
election at which the proposition is |
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| to be submitted and designate the amount
of bonds and purpose |
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| for which the bonds are to be issued.
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| Any proposition to issue bonds shall be in substantially |
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| the following form:
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| -------------------------------------------------------------
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| Shall bonds or notes of the
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| ..... Park District (name it) to YES
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| the amount of..... Dollars
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| ($.....) be issued for the ---------------------------
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