Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

65 ILCS 5/11-67-3

(65 ILCS 5/11-67-3) (from Ch. 24, par. 11-67-3)

Sec. 11-67-3.

Every such municipality has the power to acquire by
dedication, gift, lease, contract, or purchase, all property and rights,
necessary or proper, within the corporate limits of the municipality for
municipal coliseum purposes.

(Source: Laws 1961, p. 576.)

65 ILCS 5/11-67-4

(65 ILCS 5/11-67-4) (from Ch. 24, par. 11-67-4)

Sec. 11-67-4.

Every such municipality has the power to levy and collect taxes for
the purpose of establishing and maintaining a municipal coliseum.
However, any tax levied to establish and maintain such a coliseum shall
not exceed .025% of the value, as equalized or assessed by the
Department of Revenue, of all taxable property within
that municipality.

These taxes shall be in addition to the amount authorized to be
levied for general purposes under Section 8-3-1.

The foregoing limitation upon tax rate may be increased or decreased
according to the referendum provisions of the General Revenue Law of
Illinois.

(Source: P.A. 81-1509.)

65 ILCS 5/11-67-5

(65 ILCS 5/11-67-5) (from Ch. 24, par. 11-67-5)

Sec. 11-67-5.

Every such municipality has the power to borrow money
on the credit of the municipality and to issue bonds, in the manner
provided by law, for the purpose of establishing and maintaining a
municipal coliseum. But no issue of bonds shall be valid unless the
proposition of issuing the bonds is first certified by the municipal clerk
and submitted to the electors of
the municipality and is approved by a majority of those voting on the
proposition. The proposition shall be substantially in the following form:

--------------------------------------------------------------
    Shall bonds for the purpose of
establishing and maintaining a                   YES
municipal coliseum, in the amount            -----------------
of $....(insert amount), be issued               NO
by the ....(insert name of municipality)?
--------------------------------------------------------------

Each year after bonds are issued under this Division 67 and until all
bonds so issued are retired, there shall be included in and added to the
taxes levied for municipal purposes, a direct annual tax for an amount
sufficient to pay the interest as it accrues on each bond so issued, and
also to pay the principal of these bonds at par value, as the bonds
respectively fall due. Any tax levied to pay off any bond issue
hereafter approved shall not exceed .05% of the value, as equalized or
assessed by the Department of Revenue, upon the taxable
property within the municipality.

(Source: P.A. 81-1489; 81-1509.)