(110 ILCS 805/3-14) (from Ch. 122, par. 103-14)
Sec. 3-14.
Subject to the limits imposed by this Article, the rates for any
community college district may be increased at a regular scheduled
election held in accordance with the general election law, after the
establishment of that district. At any regular scheduled election, the
proper election authorities shall submit to the electors, after the
proposition has been certified to them by the board of the community
college district, a proposition for an increase of the authorized annual
levy for educational purposes not to exceed .125% and for operations and
maintenance of facilities purposes not to exceed .05%.
A community college board may within the limits set forth in Section
3-1 of this Act and in the manner provided in this Article levy a
maximum annual tax upon all the taxable property of the district upon
its value, as equalized or assessed by the Department of Revenue. Within
the limits provided in this Section, the
community college board may annually levy the tax for operation
and maintenance of facilities purposes
and the purchase of sites so that funds may accumulate to not more than
5% of the equalized assessed valuation of the district. Accumulated funds
may be used for building purposes as defined in Section 5-2. No such
accumulation may be transferred or used for any other purpose.
(Source: P.A. 85-1335.)
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