(65 ILCS 5/11-103-15) (from Ch. 24, par. 11-103-15)
Sec. 11-103-15.
A statutory mortgage lien exists upon the airport or
landing field and the facilities and appurtenances thereof acquired by or
constructed from the proceeds of the revenue bonds authorized to be issued
under Section 11-103-12. This lien shall exist in favor of the holders of
these bonds, and each of them, and in favor of the holders of the coupons
attached to these bonds. The airport or landing field and the facilities
and appurtenances thereof shall remain subject to this statutory mortgage
lien until payment in full of the principal and interest of these revenue
bonds. Any holder of a bond issued under Section 11-103-12 or of any coupon
representing interest accrued thereon, may, in any civil action, enforce
the statutory mortgage lien created by this section, and may, by proper
suit, compel the performance of the duties of the officials of the issuing
municipality set forth in Sections 11-103-12 through 11-103-15.
If there is a default in the payment of the principal of or interest
upon any of these bonds, the circuit court in any proper action
may appoint a receiver to administer the airport or landing field and the
facilities and appurtenances thereof on behalf of the municipality with
power to charge and collect fees sufficient to provide for the payment of
the operating expenses and for the payment of these bonds and interest
thereon and to apply the income and revenue in conformity with Sections
11-103-12 through 11-103-15 and the ordinance providing for the issuance of
these bonds.
(Source: P.A. 79-1361.)
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(65 ILCS 5/11-103-16) (from Ch. 24, par. 11-103-16)
Sec. 11-103-16.
Subject to the provisions of Section 11-103-17 the corporate
authorities of a municipality under this Division 103 may levy and
collect annually a tax of not exceeding .10% of the value, as equalized
or assessed by the Department of Revenue, of all the
taxable property within the corporate limits of such municipality, for
the purpose set forth in Section 11-103-1. This annual tax shall be
designated as the "Airport Tax" and shall be in addition to and
exclusive of all other taxes which such municipality is now or hereafter
authorized to levy and collect.
(Source: P.A. 81-1509.)
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(65 ILCS 5/11-103-17) (from Ch. 24, par. 11-103-17)
Sec. 11-103-17.
The Airport Tax provided for by Section 11-103-16
shall not be levied and collected until the question of its adoption and
the maximum rate at which such tax shall be levied is certified by the
clerk and submitted to a
vote of the voters of the municipalities and has
received the affirmative vote of a majority of the voters voting upon
the question.
The question of such airport
tax shall not be submitted to the voters of any municipality more often
than once in any 46 month period.
(Source: P.A. 81-1489.)
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