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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.)

65 ILCS 5/11-23-14

(65 ILCS 5/11-23-14) (from Ch. 24, par. 11-23-14)

Sec. 11-23-14.

The corporate authorities of any such city availing itself
of the provisions of Section 11-23-13 shall adopt an ordinance describing
in a general way the building or buildings, or addition or extension
thereto, to be constructed, reconstructed, repaired, remodeled, extended,
equipped or improved. Such ordinance shall set out the estimated cost of
such construction, reconstruction, repair, remodeling, extension, equipment
or improvement and fix the amount of revenue bonds proposed to be issued,
the maturity, interest rate, and all details in respect thereof and may
contain such provisions and covenants which shall be part of the contract
between the city and the holders of such bonds as may be deemed necessary
and advisable as to the operation, maintenance, and management of the
hospital, the establishment and maintenance of sinking funds, reserve
funds, and other special funds, including construction funds, the fixing
and collecting of rents, fees and charges for the use of the facilities of
the hospital sufficient to produce revenue adequate to maintain such funds
and to pay the bonds at maturity and accruing interest thereon, the
issuance thereafter of additional bonds payable from the revenues derived
from the hospital, the kind and amount of insurance, including use and
occupancy insurance, to be carried, the cost of which shall be payable only
from the revenues derived from the hospital, and such other covenants
deemed necessary or desirable to assure the successful operation and
maintenance of the hospital and the prompt payment of the principal of and
interest upon the bonds so authorized. Revenue bonds issued under this
Division 23 shall be signed by the president and secretary of the hospital
board and by the mayor and city clerk or commissioner of accounts and
finance of the city and shall be payable from revenue derived from the
operation of the public hospital. These bonds shall not in any event
constitute an indebtedness of the city within the meaning of any
constitutional provision or limitation. It shall be plainly written or
printed on the face of each bond that the bond has been issued under the
provisions of Sections 11-23-13 and 11-23-14, that the bond, including the
interest thereon, is payable from the revenue pledged to the payment
thereof, and that it does not constitute an indebtedness or obligation of
the city within the meaning of any constitutional or statutory limitation
or provision. No holder of any such revenue bond has the right to compel
any exercise of the taxing power of the city to pay such bond or interest
thereon. This ordinance shall be published and shall take effect as
provided in Section 1-2-4.

(Source: Laws 1965, p. 847.)