(60 ILCS 1/125-15)
Sec. 125-15. Supervisor's and clerk's certificate; tax; board of
park commissioners.
(a) The bonds shall be sold, and the proceeds shall be used, solely for
the purpose of procuring and improving one or more parks in the township; specifically, the bond proceeds may be used in connection with one or more acquisition projects, one or more improvement projects, or a combination thereof. The bond proceeds may be used to support projects at parks operated by the township or, through grants or intergovernmental agreements, at parks operated by a municipality or park district. At or
before the time of the delivery of the bonds for value, the township supervisor
and township clerk shall file with the county clerk of the county in which the
township is situated their certificate in writing, under their signatures,
stating the amount of bonds to be issued, their denomination, and the rate of
interest and where payable. The certificate shall include a form of the bond
to be issued.
(b) The supervisor and clerk shall levy a direct annual tax upon all the
taxable property in the township sufficient to pay the principal and interest
of the bonds as and when they respectively mature. The certificate filed with
the county clerk is full and complete authority to the county clerk to extend
the tax named in the certificate upon all the taxable property in the township.
The tax is in addition to all other taxes authorized by law.
(c) If there is a board of park commissioners invested by law with control
over any park that lies wholly or in part in the township, the duties required
of the supervisor and clerk by this Section and subsection (c) of Section
125-10 shall be performed by the board of park commissioners or under its
authority.
(Source: P.A. 94-622, eff. 8-18-05.)
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(60 ILCS 1/125-20)
Sec. 125-20. Use of bond proceeds. The proceeds of the bonds shall be
received and held by the township supervisor but shall be expended under the
direction and upon the warrant of a majority of the members of the board of trustees of
the township. However, a majority of the members of the board of trustees may designate that the bond proceeds be expended under the direction and upon the warrant of the highway commissioner if the highway commissioner provides written consent to that action. If, however, at the time the proceeds are received there is a
board of park commissioners invested by law with control over any park that
lies wholly or in part in the township, the proceeds of the bonds shall be
expended upon the warrants of a majority of the board of park commissioners.
The board of trustees, highway commissioner or board of park commissioners may designate the
parcel or parcels of land or property to be utilized for the purchase of the
parks and may determine the character, time, and manner of improving,
developing, maintaining, and adorning the parcel or parcels.
(Source: P.A. 95-759, eff. 7-28-08.)
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