Full Text of SB2693 98th General Assembly
SB2693 98TH GENERAL ASSEMBLY |
| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014 SB2693 Introduced 1/28/2014, by Sen. Toi W. Hutchinson SYNOPSIS AS INTRODUCED: |
| 70 ILCS 810/21 | from Ch. 96 1/2, par. 6424 |
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Amends the Cook County Forest Preserve District Act. Provides that no district may incur indebtedness for the acquisition of land or lands for any purpose in excess of 90,000 acres (currently, 75,000 acres) without prior certification to the proper election officials and approval by the district's voters. Effective immediately.
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| | A BILL FOR |
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| | | SB2693 | | LRB098 16119 JLK 51175 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 Cook County Forest Preserve District Act is | 5 | | amended by changing Section 21 as follows:
| 6 | | (70 ILCS 810/21) (from Ch. 96 1/2, par. 6424)
| 7 | | Sec. 21.
The board may, for any of the purposes enumerated | 8 | | in this Act,
borrow money upon the faith and credit of such | 9 | | district, and may issue bonds
therefor. However, a district may | 10 | | not become indebted in any manner or for any
purpose to an | 11 | | amount including existing indebtedness in the aggregate | 12 | | exceeding
.345% of the assessed value of the taxable property | 13 | | therein, as ascertained by
the last equalized assessment for | 14 | | State and county purposes. Except for
indebtedness incurred | 15 | | under Section 21.1 of this Act and except for
indebtedness | 16 | | incurred to construct, acquire, equip, repair, and renovate
| 17 | | buildings or other improvements to land of the district or to | 18 | | acquire equipment
for the district, no district may incur | 19 | | indebtedness for any purpose other than
the acquisition of land | 20 | | including acquiring lands in fee simple along or
enclosing | 21 | | water courses, drainage ways, lakes, ponds, planned | 22 | | impoundments or
elsewhere which are required to store flood | 23 | | waters or control other drainage
and water conditions necessary |
| | | SB2693 | - 2 - | LRB098 16119 JLK 51175 b |
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| 1 | | for the preservation and management of the water
resources of | 2 | | the district, unless the proposition to issue bonds or | 3 | | otherwise
incur indebtedness is first certified by the district | 4 | | to the proper election
officials, who shall submit the | 5 | | proposition to the legal voters of the district
at an election | 6 | | in accordance with the general election law and approved by a
| 7 | | majority of those voting upon the proposition. No district may | 8 | | incur
indebtedness for the acquisition of land or lands for any | 9 | | purpose in excess of 90,000
75,000 acres, including all lands | 10 | | theretofore acquired, unless the proposition
to issue bonds or | 11 | | otherwise incur indebtedness is first certified by the
district | 12 | | to the proper election officials, who shall submit the | 13 | | proposition to
the voters of the district at an election in | 14 | | accordance with the general
election law and approved by a | 15 | | majority of those voting upon the proposition.
Before or at the | 16 | | time of issuing bonds, the board shall provide by ordinance
for | 17 | | the collection of an annual tax sufficient to pay the interest | 18 | | on the bonds
as it falls due, and to pay the bonds as they | 19 | | mature. All bonds issued by any
forest preserve district must | 20 | | be divided into series, the first of which
matures not later | 21 | | than 5 years after the date of issue and the last of
which | 22 | | matures not later than 30 years after the date of issue.
| 23 | | (Source: P.A. 88-503.)
| 24 | | Section 99. Effective date. This Act takes effect upon | 25 | | becoming law.
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