Illinois General Assembly - Full Text of SB3341
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Full Text of SB3341  98th General Assembly




State of Illinois
2013 and 2014


Introduced 2/14/2014, by Sen. Pamela J. Althoff


70 ILCS 410/15  from Ch. 96 1/2, par. 7116
70 ILCS 410/15.1  from Ch. 96 1/2, par. 7117

    Amends the Conservation District Act. Provides that a district may incur indebtedness for the purposes of paying any capital expenditure without first obtaining consent of the legal voters of the district. Sets forth a list of the types of bonds that do not limit a district from issuing non-referendum debt. Makes other changes.

LRB098 19797 JLK 55013 b






SB3341LRB098 19797 JLK 55013 b

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 Conservation District Act is amended by
5changing Sections 15 and 15.1 as follows:
6    (70 ILCS 410/15)  (from Ch. 96 1/2, par. 7116)
7    Sec. 15. (a) Whenever a district does not have sufficient
8money in its treasury to meet all necessary expenses and
9liabilities thereof, it may issue tax anticipation warrants.
10Such issue of tax anticipation warrants shall be subject to the
11provisions of Section 2 of "An Act to provide for the manner of
12issuing warrants upon the treasurer of the State or of any
13county, township, or other municipal corporation or quasi
14municipal corporation, or of any farm drainage district, river
15district, drainage and levee district, fire protection
16district and jurors' certificates", approved June 27, 1913, as
17now and hereafter amended.
18    (b) For the purpose of acquisition of real property, or
19rights thereto, or for the purpose of paying any capital
20expenditure, a district may incur indebtedness and, as evidence
21of the indebtedness thus created, may issue and sell bonds
22without first obtaining the consent of the legal voters of the



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1    (c) (Blank). For the purpose of development of real
2property, a district may incur indebtedness and, as evidence of
3the indebtedness thus created, may issue and sell bonds only
4after the proposition to issue bonds has been submitted to the
5legal voters of the district at an election and has been
6approved by a majority of those voting on the proposition. Such
7election is subject to Section 15.1 of this Act.
8    (d) No district shall become indebted in any manner or for
9any purpose, to any amount including existing indebtedness in
10the aggregate exceeding 0.575% of the value, as equalized or
11assessed by the Department of Revenue, of the taxable property
12therein; except that a district entirely within a county of
13under 750,000 inhabitants and contiguous to a county of more
14than 2,000,000 inhabitants may incur indebtedness, including
15existing indebtedness, in the aggregate not exceeding 1.725% of
16that value if the aggregate indebtedness over 0.575% is
17submitted to the legal voters of the district at an election
18and is approved by a majority of those voting on the
19proposition as provided in Section 15.1.
20    The following do not in any way limit the right of a
21district to issue non-referendum bonds under this Section:
22bonds heretofore or hereafter issued and outstanding that are
23approved by referendum, as described in this subsection (d);
24refunding bonds issued to refund or continue to refund bonds
25approved by referendum; or bonds issued under this Section that
26have been paid in full or for which provisions for payment have



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1been made by an irrevocable deposit of funds in an amount
2sufficient to pay the principal and interest on those bonds to
3their respective maturity date.
4    (e) Before or at the time of issuing bonds as described in
5this Section for acquisition or development of real property,
6the district shall provide by ordinance for the collection of
7an annual tax, in addition to all other taxes authorized by
8this act, sufficient to pay such bonds and the interest thereon
9as the same respectively become due. Such bonds shall be
10divided into series, the first of which shall mature not later
11than 5 years after the date of issue and the last of which
12shall mature not later than 25 years after the date of issue;
13shall bear interest at a rate or rates not exceeding the
14maximum rate permitted in "An Act to authorize public
15corporations to issue bonds, other evidences of indebtedness
16and tax anticipation warrants subject to interest rate
17limitations set forth therein", approved May 26, 1970, as now
18or hereafter amended; shall be in such form as the district
19shall by resolution provide and shall be payable as to both
20principal and interest from the proceeds of the annual levy of
21taxes authorized to be levied by this Section, or so much
22thereof as will be sufficient to pay the principal thereof and
23the interest thereon. Prior to the authorization and issuance
24of such bonds the district may, with or without notice,
25negotiate and enter into an agreement or agreements with any
26bank, investment banker, trust company or insurance company or



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1group thereof whereunder the marketing of such bonds may be
2assured and consummated. The proceeds of such bonds shall be
3deposited in a special fund, to be kept separate and apart from
4all other funds of the conservation district.
5(Source: P.A. 96-1178, eff. 7-22-10.)
6    (70 ILCS 410/15.1)  (from Ch. 96 1/2, par. 7117)
7    Sec. 15.1. When the board of a district proposes to incur
8indebtedness and issue bonds, other than tax anticipation
9warrants, for the purpose of development of real property or
10for the purpose of incurring indebtedness in the aggregate over
110.575% as provided in subsection (d) of Section 15, it shall
12order a referendum on the proposition.
13    The district shall adopt an ordinance calling for the
14referendum and setting forth the proposition. The clerk or
15secretary of the district shall certify the ordinance and the
16proposition to the proper election officials who shall submit
17the proposition to the voters of the district at a referendum
18in accordance with the general election law. For a bond
19proposition put forward by a district organized under this Act,
20including a forest preserve district created under Section
2118.5, the ballot must have printed on it, but not as part of
22the proposition submitted, the following language:
23        The approximate impact of the proposed increase on the
24    owner of a single-family home having a market value of
25    (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(Source: P.A. 97-364, eff. 8-15-11.)