65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-76.1-2

(65 ILCS 5/11-76.1-2) (from Ch. 24, par. 11-76.1-2)

Sec. 11-76.1-2.

Whenever and as often as a municipality enters into a
lease or purchase agreement, the governing body of such municipality
shall provide by ordinance for the levy and collection of a direct
annual tax sufficient to pay the annual installments or rent provided
for by any such lease or agreement as and when it becomes due and
payable. A certified copy of the lease or agreement as entered into by
the municipality and a certified copy of the tax levy ordinance of such
municipality providing for the levy and collection of a direct annual
tax sufficient to pay the annual installments of such lease or agreement
shall be filed in the office of the County Clerk of each county in which
any portion of the territory of such municipality is situated, which
certified copies shall constitute the authority for the clerk or clerks
in each case to extend the taxes annually necessary to pay the annual
installments payable under any such lease or agreement as and when the
same become due and payable.

Upon such filing in the office of the County Clerk, or clerks, of the
proper county, it shall be the duty of such County Clerk, or clerks, to
ascertain the rate per cent which, upon the value of all property
subject to taxation within the municipality as that property is assessed
or equalized by the Department of Revenue will produce
a net amount of not less than the amount of the annual installments
provided for in such lease or agreement. The County Clerk, or clerks,
shall thereupon and thereafter annually extend taxes against all of the
taxable property contained in that municipality sufficient to pay the
annual installments provided for in such lease or agreement. Such tax
shall be levied and collected in like manner with the other taxes of
such municipality and shall be in addition and in excess of all other
taxes now or hereafter authorized to be levied by that municipality.
This tax shall not be included within any statutory limitation of rate
or amount for that municipality but shall be excluded therefrom and be
in addition thereto and in excess thereof. The funds realized from such
tax levy shall be set aside for the payment of the annual rent and shall
not be disbursed for any other purpose until the annual installment has
been paid in full.

Notwithstanding anything in this Code to the contrary, each
municipality may enter into leases and agreements as provided herein and
such leases or agreements may be made and the obligation and expense
thereunder incurred without making a previous appropriation therefor.

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

65 ILCS 5/11-76.1-3

(65 ILCS 5/11-76.1-3) (from Ch. 24, par. 11-76.1-3)

Sec. 11-76.1-3.

After the ordinance providing for the lease or purchase
of real or personal property has been passed, it shall be published at
least twice within 30 days after its passage in one or more newspapers
published in the municipality, or, if no newspaper is published therein,
then in one or more newspapers with a general circulation within the
municipality. In municipalities with less than 500 population in which no
newspaper is published, publication may instead be made by posting a notice
in 3 prominent places within the municipality. The ordinance shall not
become effective until 30 days after its second publication.

(Source: P.A. 87-767.)