(65 ILCS 5/9-2-39) (from Ch. 24, par. 9-2-39)
Sec. 9-2-39.
Any municipality having a population of less than
500,000 may provide by ordinance for the levy, in addition to the taxes
now authorized by law, and in addition to the amount authorized to be
levied for general purposes as provided by Section 8-3-1, of a direct
annual tax not exceeding .05%, or the rate limit in effect on July 1,
1967, whichever is greater, of the value, as equalized or assessed by
the Department of Revenue, of all taxable property in
the municipality. This tax shall be known as the public benefit tax. The
fund arising therefrom shall be known as a public benefit fund, which
fund shall be used solely for the purpose of paying that portion of the
several amounts heretofore assessed against the municipality for public
benefit as well as paying any such amounts as may be hereafter assessed
for public benefit under and in pursuance of any ordinance that may be
hereafter passed. However, where and whenever any road or street is
constructed or reconstructed by the State or any county or both jointly
with any municipality, the municipality may consider, accept, and use,
the amount estimated by the State of Illinois or the county, or both, to
be its or their portion of the cost of construction, as a part or all of
the municipal public benefit.
Where any such tax has been so levied, warrants may be drawn against
the tax, as and in the manner and with like effect as is provided by
Sections 8-1-9, 8-1-11 and 8-1-12. The foregoing limitations upon tax
rates may be increased or decreased under the referendum provisions of
the General Revenue Law of Illinois.
(Source: P.A. 81-1509.)
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