(70 ILCS 1205/11.1-3) (from Ch. 105, par. 11.1-3)
Sec. 11.1-3. A park district, to carry out the purposes of this Article,
has all the rights and powers over its harbor as it does over its other
property, and its rights and powers include but are not limited to the
following:
(a) To furnish complete harbor facilities and services, including but
not limited to: launching, mooring, docking, storing, and repairing
facilities and services; parking facilities for motor vehicles and boat
trailers; and roads for access to the harbor.
(b) To acquire by gift, legacy, grant, purchase, lease, or by
condemnation in the manner provided for the exercise of the right of
eminent domain under the Eminent Domain Act any property necessary or appropriate for the purposes of this
Article, including riparian rights, within or without the park district.
(c) To use, occupy and reclaim submerged land under the public waters of
the State and artificially made or reclaimed land anywhere within the
jurisdiction of the park district, or in, over, and upon bordering public
waters.
(d) To acquire property by agreeing on a boundary line in accordance
with the procedures set forth in Sections 11-123-8 and 11-123-9 of the
Illinois Municipal Code, as amended.
(e) To locate and establish dock, shore and harbor lines.
(f) To license, regulate, and control the use and operation of the
harbor, including the operation of all water-borne vessels in the harbor
and within 1000 feet of the outer limits of the harbor, or otherwise within
the jurisdiction of the park district, except that such park district shall
not forbid the full and free use by the public of all navigable waters, as
provided by Federal Law.
(g) To charge and collect fees for all facilities and services, and
compensation for materials furnished.
(h) To appoint harbor masters and other personnel, defining their duties
and authority.
(i) To enter into contracts and leases of every kind, dealing in any
manner with the objects and purposes of this Article, upon such terms and
conditions as the park district determines.
(Source: P.A. 94-1055, eff. 1-1-07.)
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(70 ILCS 1205/11.1-6) (from Ch. 105, par. 11.1-6)
Sec. 11.1-6.
The park district has power to borrow money by issuing its bonds in
anticipation of its revenue from such harbor or from any buildings,
structures or facilities to accomplish any of the purposes of this Article
and to refund such bonds. Such bonds shall be authorized by ordinance and
may be issued in one or more series, and bear dates of maturity at such
time or times not to exceed 40 years from their respective dates, bear
interest at such rates not exceeding the maximum rate
authorized by the
Bond Authorization Act, as amended at the time of the making of the contract, payable
semi-annually, be in such denominations, be in such form either coupon or
registered, be executed in such manner, be payable in such medium of
payment at such place, be subject to such terms of redemption with or
without premium, and may be registrable as to principal or as to both
principal and interest as the ordinance may provide.
The bonds are negotiable instruments.
The bonds shall be sold at a price so that the interest cost of the
proceeds thereof shall not exceed the maximum applicable interest rate per
annum, payable semi-annually, computed to maturity according to standard
tables of bond values, and shall be sold in such manner and at such time as
the Park Commissioners shall determine.
Pending the preparation or execution of definitive bonds, interim
receipts or certificates or temporary bonds may be delivered to the
purchasers or pledgees of these bonds. These bonds bearing the signature of
officers in office on the date of the signing thereof shall be valid and
binding obligations notwithstanding that before delivery thereof and
payment therefor any or all of the persons whose signatures appear thereon
cease to be such officers.
No holder of any bond issued under this law shall ever have the right to
compel any exercise of taxing power of the park district to pay the bond or
interest thereon. Each bond issued under this Article is payable solely
from the revenue derived from the operation of the harbor and facilities.
The bond shall not in any event constitute a debt of the park district
within any statutory or constitutional limitations, and this shall be
plainly stated on the face of each bond.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
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(70 ILCS 1205/11.1-7) (from Ch. 105, par. 11.1-7)
Sec. 11.1-7.
The Park Commissioners of any park district availing
under this Article shall adopt an ordinance describing in a general way
the harbor and facilities thereof, or relating thereto, to be acquired,
constructed, enlarged, improved, operated and maintained as a harbor for
the use and benefit of the public, and refer to the general plans and
specifications therefor prepared for that purpose. These plans and
specifications shall be open to the inspection of the public. Any such
ordinance shall set out the estimated cost of the harbor or facilities
thereof, or relating thereto, and shall fix the maximum amount of
revenue bonds proposed to be issued therefor. This amount shall not
exceed the estimated cost of the harbor and facilities, including
engineering, legal and other expenses, together with interest cost to a
date 12 months subsequent to the estimated date of completion. Such
ordinance may contain such covenants which shall be part of the contract
between the park district and the holders of such bonds and the Trustee,
if any, for the bondholders having such rights and duties as may be
provided therein for the enforcement and protection of such covenants as
may be deemed necessary and advisable as to:
(a) The issuance of additional bonds that may |
| thereafter be issued payable from the revenues derived from the operation of such harbor or buildings, structures and facilities, and for the payment of the principal and interest on such bonds;
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(b) The regulations as to the use of any such harbor
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| and facilities to assure the efficient use and occupancy thereof;
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(c) Kind and amount of insurance to be carried,
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| including use and occupancy insurance, cost of which shall be payable only from the revenues derived from the harbor and facilities;
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(d) Operation, maintenance, management, accounting
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| and auditing, employment of harbor engineers and consultants, and keeping of records, reports and audits of any such harbor and facilities;
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(e) The obligation of the park district to maintain
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| the harbor and facilities in good condition and to operate same in an economical and efficient manner;
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(f) Providing for setting aside any sinking funds,
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| reserve funds, depreciation funds and such other special funds as may be found needful and the regulation and disposition thereof;
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(g) Providing for the setting aside of a sinking fund
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| into which shall be payable from the revenues of such harbor and facilities from month to month as such revenues are collected such sums as will be sufficient to pay the accruing interest and retire the bonds at maturity;
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(h) Agreeing to fix and collect fees and rents and
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| other charges for the use of such harbor or facilities, sufficient together with other available money to produce revenue adequate to pay the bonds at maturity and accruing interest and reserves therefor, and sufficient to pay cost of maintenance, operation and depreciation thereof in such order of priority as shall be provided by the ordinance authorizing the bonds;
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(i) Fixing procedure by which the terms of any
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| contract with the holders of the bonds may be amended, the amount of bonds the holders of which must consent thereto, and the manner in which consent may be given;
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(j) Providing the procedure for refunding such bonds;
(k) Providing whether and to what extent and upon
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| what terms and conditions, if any, the holder of bonds or coupons issued under such ordinance, or the Trustee, if any, may by action, mandamus, injunction or other proceeding, enforce or compel the performance of all duties required by this Act, including the fixing, maintaining and collecting of fees, rates or other charges for the use of the harbor or other facilities, or for any service rendered by the park district in the operation thereof as will be sufficient, together with other available money, to pay the principal of and interest upon these revenue bonds as they become due and reserves therefor and sufficient to pay the cost of maintenance and operation and depreciation of the harbor and facilities in the order of priority as provided in the ordinance authorizing the bonds and application of the income and revenue thereof;
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(l) Such other covenants as may be deemed necessary
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| or desirable to assure a successful and profitable operation of the harbor and facilities, and prompt payment of the principal of and interest upon the bonds so authorized.
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The Park Commissioners may enter into a trust agreement to secure
payment of the bonds issued hereunder.
After the ordinance has been adopted, it shall within 10 days after
its passage be published once in a newspaper published and having a
general circulation in the park district, or, if there is no such
newspaper, then in a newspaper having a general circulation in the
county wherein such district, or the greater or greatest portion in area
of the district, lies. The publication or posting of the ordinance shall
include a notice of (1) the specific number of voters required to sign a
petition requesting that the question of the adoption of the ordinance be
submitted to the electors of the district; (2) the time in which the
petition must be filed; and (3) the date of the prospective referendum. The
Secretary of the governing board of the park district shall provide a
petition form to any individual requesting one.
If no valid petition requesting a referendum is filed with the secretary
of the district within 30 days after the publication of the ordinance, the
ordinance shall be in effect.
However, if within 30 days after the publication of the ordinance a
petition is filed with the secretary of the district signed by electors
of the district equal to 10% or more of the number of registered voters in
the district, asking that the question of acquiring and operating or
constructing and operating such harbor project and the issuance of the
bonds for the harbor project be submitted to the electors of the district,
the board shall certify such question to the proper election officials, who
shall submit that question at an election held in the district.
The proposition shall be in the following form:
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Shall the.... Park District YES
issue Revenue Bonds for acquiring ----------------------------
(or constructing) a harbor? NO
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Notice of such referendum shall be given and such referendum conducted in
the manner as provided by the general election law.
If a
majority of the electors voting upon that question voted in favor of
acquiring and operating or constructing and operating the harbor and the
issuance of the bonds, the ordinance shall be in effect, otherwise the
ordinance shall not go into effect.
(Source: P.A. 87-767.)
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(70 ILCS 1205/11.1-10) (from Ch. 105, par. 11.1-10)
Sec. 11.1-10.
The State and all counties, cities, villages, incorporated
towns and other municipal corporations, political subdivisions and public
bodies, and public officers of any thereof, all banks, bankers, trust
companies, savings banks and institutions, building and loan associations,
savings and loan associations, investment companies and other persons
carrying on a banking business, all insurance companies, insurance
associations and other persons carrying on an insurance business, and all
executors, administrators, guardians, trustees and other fiduciaries may
legally invest any sinking funds, moneys or other funds belonging to them
or within their control in any bonds, including refunding bonds, issued
pursuant to this law, it being the purpose of this section to authorize the
investment in such bonds of all sinking, insurance, retirement,
compensation, pension and trust funds, whether owned or controlled by
private or public persons or officers; provided, however, that nothing
contained in this section may be construed as relieving any person, firm,
or corporation from any duty of exercising reasonable care in selecting
securities for purchase or investment.
(Source: Laws 1959, p. 642.)
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