65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-58-1

(65 ILCS 5/11-58-1) (from Ch. 24, par. 11-58-1)

Sec. 11-58-1.

Subject to the provisions of Section 11-58-3, the corporate
authorities of any municipality with a population of less than 500,000 have
the power to levy and collect a tax to provide for the payment of the costs
imposed by law upon the municipality for grade separations whenever, in the
manner provided by law, (1) separation of the grade of the roadbed and
tracks of any railroad from the grade of any public street or other public
place has been found to be required for public safety, necessity, and
convenience, and (2) a plan for a grade separation has been adopted and the
proportion of the costs of the grade separation to be paid by the
municipality has been prescribed.

(Source: Laws 1961, p. 576.)

65 ILCS 5/11-58-2

(65 ILCS 5/11-58-2) (from Ch. 24, par. 11-58-2)

Sec. 11-58-2.

The corporate authorities of such a municipality shall
exercise the power conferred by this Division 58 by passing an ordinance
which (1) shall set forth the estimated total sum required to pay the
prescribed proportion of the total costs of grade separations, together
with all interest charges, and all other costs incident and necessary to
the levying and collecting of the tax and of the payment by the
municipality of its proportion of the costs of grade separations, (2)
shall describe the general plan and nature of the grade separations and
set forth the railroads and the public streets, or other public places,
to be affected thereby, and (3) shall provide for levying and collecting
a direct annual tax for not exceeding 10 successive years, sufficient to
create a fund to pay in annual installments, the total sum so estimated
and set forth in the ordinance. However, this tax shall not exceed in
any one year the rate of .50% of the value, as equalized or assessed by
the Department of Revenue, of all the taxable property
within the municipality. This tax shall be levied and collected with and
in like manner as the general tax in the municipality and shall be known
as the grade separation tax.

(Source: P.A. 81-1509.)