(70 ILCS 3710/8) (from Ch. 111 2/3, par. 220)
Sec. 8.
The board of trustees of any water service district organized
hereunder may contract with any city, village or incorporated town lying
adjacent to such district or with a public utility for water service to
be furnished by such municipality or utility for water service in the
district. The board of trustees may also contract for the installation,
rental or use of water service mains within the water service district
and for the furnishing of water service to be used within such district.
Any water service district incorporated under this Act may borrow
money for the purpose of furnishing and installing water service mains
for the district and may issue bonds therefor, but shall not become
indebted in any manner, or for any purpose to an amount in the aggregate
to exceed 5% on the valuation of taxable property therein to be
ascertained by the last assessment for State and County taxes previous
to the incurring of such indebtedness. Whenever the board of trustees of
such district desire to issue bonds hereunder they shall order the question
to be submitted at an
election to be held in such district. The board
shall certify the question to the proper election officials, who shall submit
the question at an election in accordance with the general election law.
The notice of
election shall be given in the manner provided by the general election law and shall
state the amount of bonds to be issued. The board of trustees
shall cause the result of the election to be entered
upon the records of the district. If a majority of the voters
shall have voted in favor of the issue of the bonds, the board
of trustees shall order and direct the execution of the bonds for and on
behalf of the district. All bonds issued hereunder shall mature within
20 years. The proposition under this section
shall be in substantially the following form:
-------------------------------------------------------------- Shall bonds be issued YESfor water service in the -----------------------------amount of.... dollars? NO--------------------------------------------------------------
(Source: P.A. 81-1489.)
|