(70 ILCS 920/14) (from Ch. 23, par. 1714)
Sec. 14.
The board of directors of any tuberculosis sanitarium
district organized hereunder shall have power to raise money by general
taxation, for any of the purposes enumerated in this Act, and power to
borrow money upon the faith and credit of such district, and to issue
bonds therefor. Such district shall not become indebted in any manner or
for any purpose, to any amount including existing indebtedness in the
aggregate exceeding 1/2% of the assessed value of the taxable property
therein, as ascertained by the last equalized assessment for State and
county purposes. No such district shall incur indebtedness for any
purpose other than the acquisition of land unless the proposition to
issue bonds or otherwise incur such indebtedness shall have been first
submitted to the legal voters of such district and shall have been
approved by a majority of those voting upon the proposition. The board
of directors shall certify its resolution or ordinance and the proposition
to the proper election officials, who shall submit the proposition to the
voters at an election in accordance with the general
election law. Before or
at the time of issuing bonds, the board of directors shall provide by
ordinance for the collection of an annual tax sufficient to pay the
interest on such bonds as it falls due, and to pay such bonds as they
mature and the tax to so pay the interest on the bonds as it falls due
and to pay the bonds as they mature, shall not be permitted to increase
the taxing power of the district as herein provided for. All bonds
issued by any tuberculosis sanitarium district shall be divided into
series, the first of which shall mature not later than 5 years after the
date of issue and the last of which shall mature not later than 20 years
after the date of issue.
All general taxes levied by the board of directors of any
tuberculosis sanitarium district shall be levied at the same time and in
the same manner as taxes are levied for city and village purposes;
provided, that the amount of taxes levied for one year shall not exceed
the rate of .075 per cent of value, as equalized or assessed by the
Department of Revenue; provided, further, that the
foregoing limitations upon tax rates may be increased or decreased under
the referendum provisions of the General Revenue Law of Illinois. All
moneys collected under this Act shall be paid to the treasurer of such
district.
(Source: P.A. 81-1535.)
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