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Illinois Compiled Statutes
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MUNICIPALITIES (65 ILCS 5/) Illinois Municipal Code. 65 ILCS 5/11-102-5
(65 ILCS 5/11-102-5) (from Ch. 24, par. 11-102-5)
Sec. 11-102-5.
Every municipality specified in Section 11-102-1 has the
following additional powers:
(1) to operate any public airport, buildings, structures or facilities
relating thereto and to charge and collect rents, rates or other
compensation for any use thereof or for any service rendered by the
municipality in the operation thereof, provided that, subject to the
capacity thereof, the landing field, landing strips and landing float shall
be available to any person, without unjust or unreasonable discrimination
as to services and charges, for landing and take-off by any aircraft;
(2) to let to, or enter into any operating agreement with, any person
for operation and maintenance of any public airport, but all such leases
and operating agreements shall provide that, subject to the capacity
thereof, the landing field, landing strips and landing float shall be
available to any person, without unjust or unreasonable discrimination as
to services and charges, for landing and take-off by any aircraft;
(3) to let to any person, or grant concessions or privileges in, any
land adjoining the landing field or any building or structure on such land
for the shelter, servicing, manufacturing and repair of aircraft, aircraft
parts and accessories, for receiving and discharging passengers and cargo,
and for the accommodation of the public at such airport;
(4) to regulate the use of such airports, the navigation of aircraft
over such airports and the approach of aircraft and their take-off from
such airports.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-102-6
(65 ILCS 5/11-102-6) (from Ch. 24, par. 11-102-6)
Sec. 11-102-6.
Every municipality specified in Section 11-102-1 may from
time to time issue its bonds in anticipation of its revenue from such an
airport or airports or from any buildings, structures, or facilities
thereof or relating thereto to accomplish any of the purposes of this
Division 102 and to refund such bonds. These bonds may be authorized by
ordinance and may be issued in one or more series, may bear such dates,
mature at such time or times, not exceeding 40 years from their respective
dates, bear interest at such rates, not exceeding the maximum rate
authorized by the Bond Authorization Act, as amended at the time of the
making of the contract, payable semi-annually, be in such denominations, be
in such form, either coupon or registered, be executed in such manner, be
payable in such medium of payment, at such places, be subject to such terms
of redemption, with or without premium, and may be made registrable as to
principal or as to both principal and interest, as the ordinance may
provide. These bonds may be issued without submission
thereof to the electors of the municipality for approval. The bonds shall
have all the qualities of negotiable paper under the law merchant and the
negotiable instruments law. The bonds shall be sold at a price, so that the
interest cost of the proceeds thereof shall not exceed
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract,
payable semi-annually, computed to maturity according to standard tables of
bond values and shall be sold in such manner and at such time as the
corporate authorities of such municipality shall determine. Pending the
preparation or execution of definitive bonds, interim receipts or
certificates or temporary bonds may be delivered to the purchasers or
pledgees of these bonds. These bonds bearing the signatures of officers in
office on the date of the signing thereof shall be valid and binding
obligations notwithstanding that before the delivery thereof and payment
therefor any or all the persons whose signatures appear thereon cease to be
officers. No holder of any bond issued under this section shall ever have
the right to compel any exercise of taxing power of the municipality to pay
the bond or the interest thereon. Each bond issued under this section shall
recite in substance that the bond, including the interest thereon, is
payable from the revenue pledged to the payment thereof and that the bond
does not constitute a debt of the municipality issuing the bond within any
statutory or constitutional limitation.
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.)
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65 ILCS 5/11-102-7
(65 ILCS 5/11-102-7) (from Ch. 24, par. 11-102-7)
Sec. 11-102-7.
The corporate authorities of any municipality availing
itself of the provisions of Section 11-102-6 shall adopt an ordinance
describing in a general way the airport or airports or facilities thereof
or relating thereto to be purchased, established or improved and refer to
the plans and specifications therefor prepared for that purpose. These
plans and specifications shall be open to the inspection of the public. Any
such ordinance shall set out the estimated cost of the airport or airports
or facilities thereof or relating thereto or of the improvement and shall
fix the maximum amount of revenue bonds proposed to be issued therefor.
This amount shall not exceed the estimated cost of the airport or airports
or facilities thereof or relating thereto or of the improvement including
engineering, legal, and other expenses together with interest cost to a
date 6 months subsequent to the estimated date of completion. Such
ordinance may contain such covenants, which shall be part of the contract
between the municipality and the holders of such bonds and the trustee, if
any, for such bondholders having such rights and duties as may be provided
therein for the enforcement and protection of such covenants, as may be
deemed necessary or advisable as to:
(a) the issuance of additional bonds that may thereafter be issued
payable from the revenues derived from the operation of any such airport or
airports, buildings, structures and facilities and for the payment of the
principal and interest upon such bonds;
(b) the regulations as to the use of any such airport or airports and
facilities to assure the maximum use or occupancy thereof;
(c) the kind and amount of insurance to be carried, including use and
occupancy insurance, the cost of which shall be payable only from the
revenues derived from the airport or airports and facilities;
(d) operation, maintenance, management, accounting and auditing,
employment of airport engineers and consultants and the keeping of records,
reports and audits of any such airport or airports and facilities;
(e) the obligation of the municipality to maintain the airport or
airports and facilities in good condition and to operate the same in an
economical and efficient manner;
(f) providing for setting aside of sinking funds, reserve funds,
depreciation funds and such other special funds as may be found needful and
the regulation and disposition thereof;
(g) providing for the setting aside of a sinking fund, into which shall
be payable from the revenues of such airport or airports, buildings,
structures and facilities from month to month, as such revenues are
collected, such sums as will be sufficient to pay the accruing interest and
retire the bonds at maturity;
(h) agreeing to fix and collect rents, rates of toll and other charges
for the use of such airport or airports or any buildings, structures or
facilities located thereon or related thereto, sufficient, together with
other available money, to produce revenue adequate to pay the bonds at
maturity and accruing interest and reserves therefor and sufficient to pay
cost of maintenance, operation and depreciation thereof in such order of
priority as shall be provided by the ordinance authorizing the bonds;
(i) fixing procedure by which the terms of any contract with the holders
of the bonds may be amended, the amount of bonds the holders of which must
consent thereto and the manner in which such consent may be given;
(j) providing the procedure for refunding such bonds;
(k) providing whether and to what extent and upon what terms and
conditions, if any, the holder of bonds or coupons issued under such
ordinance or the trustee, if any, therefor may,
by action, mandamus, injunction or other proceeding, enforce or compel the
performance of all duties required by this Division 102 including the
fixing, maintaining and collecting of such rents, rates or other charges
for the use of such airport or airports or of any buildings, structures or
other facilities located thereon or relating thereto or for any service
rendered by the municipality in the operation thereof as will be
sufficient, together with other available money, to pay the principal of
and interest upon these revenue bonds as the same become due and reserves
therefor and sufficient to pay the cost of maintenance, operation and
depreciation of the airport or airports and facilities in the order of
priority as provided in the ordinance authorizing the bonds, and the
application of the income and revenue thereof;
(m) such other covenants as may be deemed necessary or desirable to
assure a successful and profitable operation of the airport or airports and
facilities and prompt payment of the principal of and interest upon the
bonds so authorized. After this ordinance has been adopted it shall be
published once in a newspaper published and having a general circulation in
the municipality and may not thereafter be amended or rescinded except as
may be provided by specific covenant contained therein as hereinabove
authorized. After the expiration of 10 days from the date of this
publication the ordinance shall be in effect.
(Source: P.A. 83-345.)
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