(65 ILCS 5/11-127-2) (from Ch. 24, par. 11-127-2)
Sec. 11-127-2.
Municipalities may borrow money, appropriate money, and levy
and collect a general tax in the same manner as other municipal taxes may
be levied and collected for the purchase and maintenance or the lease and
maintenance of such waterworks.
(Source: Laws 1961, p. 576.)
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(65 ILCS 5/Art. 11 Div. 128 heading) DIVISION 128.
TAX FOR WATERWORKS PURCHASE,
CONSTRUCTION OR ENLARGEMENT
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(65 ILCS 5/11-128-1) (from Ch. 24, par. 11-128-1)
Sec. 11-128-1.
Subject to the provisions of Section 11-128-3, each
city and village may levy, in addition to the taxes now authorized by
law and in addition to the amount authorized to be levied for general
purposes as provided by Section 8-3-1, a direct annual tax of not more
than .1666% of the value, as equalized or assessed by the Department of
Revenue, upon all the property within the corporate
limits of the city or village. This tax is payable yearly for a period
of not more than 30 years. The proceeds of this tax shall be used solely
for the purchase, construction, and enlargement of waterworks.
The foregoing limitation upon tax rates in municipalities 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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(65 ILCS 5/11-128-2) (from Ch. 24, par. 11-128-2)
Sec. 11-128-2.
Whenever any specified municipality desires to avail itself
of the provisions of this Division 128, the corporate authorities by
ordinance or resolution may contract for the purchase, construction, or
enlargement of waterworks for a provisionally certain fixed sum. The
contract for purchase, construction, or enlargement, together with a report
from the municipal engineer recommending the same, shall be published at
least once a week for 3 consecutive weeks in a newspaper with a general
circulation in the municipality. The corporate authorities shall also
provide in the specified ordinance or resolution for the levying of a
direct annual tax as authorized in Section 11-128-1. The total of this tax
for the term levied, together with the annual revenue which is estimated to
be derived from the waterworks, shall be sufficient to pay the contract
price for the waterworks, together with interest thereon. However, the
contract for the purchase, construction, or enlargement, and this tax,
shall not be valid or binding until confirmed by a vote as provided by
Section 11-128-3.
(Source: Laws 1961, p. 576.)
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