98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB2975

 

Introduced 2/4/2014, by Sen. Tim Bivins

 

SYNOPSIS AS INTRODUCED:
 
70 ILCS 805/13  from Ch. 96 1/2, par. 6323

    Amends the Downstate Forest Preserve District Act. Provides that the Byron Forest Preserve District may not incur indebtedness in excess of .6% of the assessed value of taxable property in the district.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Downstate Forest Preserve District Act is
5amended by changing Section 13 as follows:
 
6    (70 ILCS 805/13)  (from Ch. 96 1/2, par. 6323)
7    Sec. 13. Bonds; limitation on indebtedness. The board of
8any forest preserve district organized hereunder may, for any
9of the purposes enumerated in this Act, borrow money upon the
10faith and credit of such district, and may issue bonds
11therefor. However, a district with a population of less than
123,000,000 may not become indebted in any manner or for any
13purpose to an amount including existing indebtedness in the
14aggregate exceeding 2.3% of the assessed value of the taxable
15property therein, as ascertained by the last equalized
16assessment for State and county purposes. No district, except
17for the Byron Forest Preserve District, may incur (i)
18indebtedness in excess of .3% of the assessed value of taxable
19property in the district, as ascertained by the last equalized
20assessment for State and county purposes, for the development
21of forest preserve lands held by the district, or (ii)
22indebtedness for any other purpose except the acquisition of
23land including acquiring lands in fee simple along or enclosing

 

 

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1water courses, drainage ways, lakes, ponds, planned
2impoundments or elsewhere which are required to store flood
3waters or control other drainage and water conditions necessary
4for the preservation and management of the water resources of
5the District, unless the proposition to issue bonds or
6otherwise incur indebtedness is certified by the board to the
7proper election officials who shall submit the proposition at
8an election in accordance with the general election law, and
9approved by a majority of those voting upon the proposition. No
10district containing fewer than 3,000,000 inhabitants may incur
11indebtedness for the acquisition of land or lands for any
12purpose in excess of 55,000 acres, including all lands
13theretofore acquired, unless the proposition to issue bonds or
14otherwise incur indebtedness is first submitted to the voters
15of the district at a referendum in accordance with the general
16election law and approved by a majority of those voting upon
17the proposition. Before or at the time of issuing bonds, the
18board shall provide by ordinance for the collection of an
19annual tax sufficient to pay the interest on the bonds as it
20falls due, and to pay the bonds as they mature. All bonds
21issued by any forest preserve district must be divided into
22series, the first of which matures not later than 5 years after
23the date of issue and the last of which matures not later than
2425 years after the date of issue, or for bonds issued prior to
25January 1, 2011, commonly known as "Build America Bonds" as
26authorized by Section 54AA of the Internal Revenue Code of

 

 

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11986, as amended, and for bonds issued from time to time to
2refund "Build America Bonds", not later than 25 years after the
3date of issue.
4    Notwithstanding any contrary provision in this Section,
5the Byron Forest Preserve District may not incur (i)
6indebtedness in excess of .6% of the assessed value of taxable
7property in the district, as ascertained by the last equalized
8assessment for State and county purposes, for the development
9of forest preserve lands held by the district, or (ii)
10indebtedness for any other purpose except the acquisition of
11land including acquiring lands in fee simple along or enclosing
12water courses, drainage ways, lakes, ponds, planned
13impoundments or elsewhere which are required to store flood
14waters or control other drainage and water conditions necessary
15for the preservation and management of the water resources of
16the District, unless the proposition to issue bonds or
17otherwise incur indebtedness is certified by the board to the
18proper election officials who shall submit the proposition at
19an election in accordance with the general election law, and
20approved by a majority of those voting upon the proposition.
21    For a bond proposition put forward by a district organized
22under this Act, the ballot must have printed on it, but not as
23part of the proposition submitted, the following language:
24        The approximate impact of the proposed increase on the
25    owner of a single-family home having a market value of
26    (insert value) would be (insert amount) in the first year

 

 

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1    of the increase if the increase is fully implemented.
2    This Section does not apply to a forest preserve district
3created under Section 18.5 of the Conservation District Act.
4(Source: P.A. 96-828, eff. 12-2-09; 96-1178, eff. 7-22-10;
597-364, eff. 8-15-11.)