(65 ILCS 5/11-70-2) (from Ch. 24, par. 11-70-2)
Sec. 11-70-2.
Whenever the corporate authorities of any municipality
designated in Section 11-70-1 decides to rebuild or restore any of the
specified buildings, it shall make provision therefor by an ordinance. This
ordinance shall also state the number of years, not exceeding 10, that this
annual public building restoration fund tax shall be levied, and the per
cent, not exceeding .08333 on all of the taxable property in the
municipality. This tax shall be included in the annual appropriation and
tax levy ordinances of such a municipality for the years that it can be
levied under the provisions of this section and Section 11-70-1.
The foregoing limitation upon tax rates in municipalities of less than
1,000,000 population may be increased or decreased according to the
referendum provisions of the General Revenue Law of Illinois.
(Source: P.A. 76-1236.)
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