(65 ILCS 5/11-123-11) (from Ch. 24, par. 11-123-11)
Sec. 11-123-11.
Every city or village may levy and collect in each of 4 consecutive
years a tax of .0125% of the value, as equalized or assessed by the
Department of Revenue, of all taxable property therein,
for the current year. This tax shall be in addition to all taxes
authorized by law to be levied and collected in that municipality. The
proceeds of this additional tax shall be used for harbor construction
purposes only and shall be credited to the harbor fund for that
particular harbor development.
The foregoing limitation upon tax rate in cities and villages of less
than 1,000,000 population may be increased or decreased according to the
referendum provisions of the General Revenue Law of Illinois.
(Source: P.A. 81-1509.)
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