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Public Act 095-0218
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| HB1673 Enrolled |
LRB095 08983 HLH 29174 b |
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AN ACT concerning forest preserve districts.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Downstate Forest Preserve District Act is |
amended by adding Section 13.8 as follows:
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(70 ILCS 805/13.8 new) |
Sec. 13.8. In the preparation of the annual appropriation |
ordinance, an amount not to exceed 0.02% of the equalized |
assessed value of property subject to taxation by the district |
may be accumulated in a separate fund for the purpose of |
specific capital improvements, repairs, or replacements of |
district equipment or other tangible property. The Fund shall |
be designated as the "Capital Improvement, Repair, or |
Replacement Fund". Expenditures from the Capital Improvement, |
Repair, or Replacement Fund shall be appropriated for the |
fiscal year in which the capital improvement, repair, or |
replacement will occur. If any surplus moneys remain in the |
Fund after the completion or abandonment of any object for |
which moneys from the Capital Improvement, Repair, or |
Replacement Fund were used, then any funds no longer necessary |
for capital improvement, repair, or replacement shall be |
transferred into the general corporate fund of the district on |
the first day of the fiscal year following the abandonment or |