Full Text of SB3161 97th General Assembly
SB3161 97TH GENERAL ASSEMBLY |
| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012 SB3161 Introduced 2/1/2012, by Sen. Edward D. Maloney SYNOPSIS AS INTRODUCED: |
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Amends the Public Library District Act of 1991. Requires that only bonds and notes with an aggregate outstanding unpaid principal balance that exceeds 0.575% of the total assessed valuation of all taxable property in the library district must be approved by a majority of the voters of the district. Provides that a referendum is not required for bonds issued to refund any judgment indebtedness, including any unpaid public benefits and amounts assessed against any library district. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | | SB3161 | | LRB097 19657 KMW 64911 b |
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| 1 | | AN ACT concerning local government.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 5. The Public Library District Act of 1991 is | 5 | | amended by changing Section 40-15 as follows:
| 6 | | (75 ILCS 16/40-15)
| 7 | | Sec. 40-15. Voter approval of bonds.
| 8 | | (a) Except as otherwise provided in this Section, bonds and | 9 | | notes, the aggregate outstanding unpaid principal balance of | 10 | | which exceeds 0.575% of the total assessed valuation of all | 11 | | taxable property in the district, Bonds shall not be
issued, | 12 | | nor the special tax imposed, until
the proposition to issue the | 13 | | bonds has been submitted to and approved
by a majority of the | 14 | | voters of the district voting upon the proposition
at a regular | 15 | | election
provided that notice of the bond referendum, if
held | 16 | | before July 1, 1999,
has been given in accordance with the | 17 | | provisions of Section
12-5
of the Election Code in effect at | 18 | | the time of the bond referendum, at least
10 and not more than | 19 | | 45 days before the date of
the election, notwithstanding the | 20 | | time for publication otherwise imposed by
Section 12-5.
Notices | 21 | | required in connection with the submission of public questions
| 22 | | on or after July 1, 1999 shall be as set forth in Section 12-5 | 23 | | of the Election
Code.
The board shall by ordinance
designate |
| | | SB3161 | - 2 - | LRB097 19657 KMW 64911 b |
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| 1 | | the election at which the proposition
is to be submitted and | 2 | | the amount of the bonds and their purpose.
The board shall | 3 | | certify the proposition to the proper election
authority,
who | 4 | | shall submit the proposition in accordance with the Election | 5 | | Code,
subject to the notice provisions set forth in this | 6 | | Section.
| 7 | | (b) The proposition to issue bonds shall be in | 8 | | substantially the following
form:
| 9 | | Shall the bonds of (name of public library district), | 10 | | (location),
Illinois, in the amount of $(amount) be issued | 11 | | for the purpose of (state one
or more purposes authorized | 12 | | in Section 40-5)?
| 13 | | (c) When so authorized, the bonds shall be issued in the | 14 | | name of the
district, signed by the president and secretary, | 15 | | and countersigned by the
treasurer, with the seal of the | 16 | | district affixed.
| 17 | | (d) This Section shall not be construed to require a | 18 | | referendum for bonds issued to refund any judgment | 19 | | indebtedness, including any unpaid public benefits and amounts | 20 | | assessed against any library district, whether due or not due | 21 | | under Division 2 of Article 9 of the Illinois Municipal Code. | 22 | | (Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99.)
| 23 | | Section 99. Effective date. This Act takes effect upon | 24 | | becoming law.
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