(70 ILCS 1205/Art. 9.2 heading) ARTICLE 9.2
POWERS (CONTINUED) TENNIS
COURTS, ETC. OR ZOOS
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(70 ILCS 1205/9.2-1) (from Ch. 105, par. 9.2-1)
Sec. 9.2-1.
Any park district has the power, subject to the limitations of Sections
9.2-1 through 9.2-6 of this Article to acquire, construct and operate
indoor or outdoor tennis courts, handball, racquetball, or squash courts,
or zoos and other necessary facilities pertinent thereto, and extend or
improve such courts or zoos and facilities, borrow money and as evidence
thereof to issue its bonds, payable solely from the revenue derived from
the operation of such indoor or outdoor tennis courts, handball,
racquetball, or squash courts, or zoos and facilities. These bonds may be
issued in such amounts as may be necessary to provide sufficient funds to
pay all the costs of the acquisition or construction, or extension or
improvement of indoor or outdoor tennis courts, handball, racquetball, or
squash courts, or zoos and facilities, including engineering, legal and
other expenses, together with interest on the bonds to a date 6 months
subsequent to the estimated date of the completion. The bonds are
negotiable instruments and shall be executed by the president and secretary
of the district and countersigned by the treasurer.
(Source: P.A. 77-2173.)
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(70 ILCS 1205/9.2-2) (from Ch. 105, par. 9.2-2)
Sec. 9.2-2.
Whenever any park district determines to acquire or
construct or extend or improve indoor or outdoor tennis courts, handball,
racquetball, or squash courts, or zoos and facilities and to issue bonds
under Section 9.2-1 of this Article to pay the cost thereof, its board
shall adopt an ordinance describing in a general way the contemplated
project and refer to plans and specifications therefor. These plans and
specifications shall be filed in the office of the secretary of the
district and shall be open for inspection by the public.
This ordinance shall set out the estimated cost of the project,
determine the period of usefulness thereof, fix the amount of revenue
bonds to be issued, the maturities thereof, the interest rate, which
shall not exceed the maximum rate authorized by the Bond Authorization Act,
as amended at the time of the making of the contract, payable annually or
semi-annually, and all the details in connection with the bonds. The bonds
shall mature within the period of usefulness of the project as determined
by the board. The ordinance may also contain such covenants and
restrictions upon the issuance of additional revenue bonds thereafter as
may be deemed necessary or advisable for the assurance of the payment of
the bonds thereby authorized. The ordinance shall also pledge the revenue
derived from the operation of the indoor or outdoor tennis courts,
handball, racquetball, or squash courts, or zoos and facilities for the
purpose of paying maintenance and operation costs, providing an adequate
depreciation fund, and paying the principal and interest of the bonds
issued hereunder. The ordinance may also pledge the revenue derived from
the operation of existing indoor or outdoor tennis courts, handball,
racquetball, or squash courts, or zoo and appurtenant facilities, for
such purpose.
After this 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 some newspaper having a general circulation in the
county wherein such district or the greater or greatest portion in area
of such 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 is filed with the secretary of the district within 30
days after the publication or posting of the ordinance, the ordinance
shall be in effect. But if within this 30 day period a petition is so
filed, signed by electors of the district equal to
10% or more of the registered voters of the district, asking that
the question of acquiring and operating or constructing and operating
such indoor or outdoor tennis courts, handball, racquetball, or squash
courts, or zoo facilities, or extending or improving such indoor or
outdoor tennis courts, handball, racquetball, or squash courts, or zoo
facilities, and the issuance of such bonds 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 a regular election held in the district.
The proposition shall be in the following
form:
Shall the.... Park District issueRevenue Bonds for acquiring (or constructing, YESor extending or improving) indoor or outdoor tennis courts (handball, racquetball, or NOsquash courts, or zoo) and facilities.
Notice of such referendum shall be given and such referendum conducted in
the manner 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 indoor or
outdoor tennis courts, handball, racquetball, or squash courts, or zoo
facilities or extending or improving such indoor or outdoor tennis
courts, handball, racquetball, or squash courts, or zoo facilities, and
the issuance of the bonds, the ordinance shall be in effect, otherwise
the ordinance shall not go into effect.
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; 87-767.)
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(70 ILCS 1205/9.2-3) (from Ch. 105, par. 9.2-3)
Sec. 9.2-3.
Bonds issued under Section 9.2-1 of this Article shall be
payable solely
from the revenue derived from the operation of the indoor or outdoor tennis
courts, handball, racquetball, or squash courts, or zoo and facilities, and
shall not in any event constitute an indebtedness of the park district
within the meaning of any constitutional or statutory limitation. It shall
plainly state on the face of each bond that the bond has been issued under
Sections 9.2-1 through 9.2-6 of this Article, and that it does not
constitute an indebtedness of the park district within any constitutional
or statutory limitation.
The bonds shall be sold in such manner, to such persons and upon such
terms as the board shall determine. If they are issued to bear interest at
the rate of the maximum rate authorized by the Bond Authorization Act, as
amended
at the time of the making of the contract, they shall
be sold for not less than par and
accrued interest. If they are issued to bear interest at a rate of less
than the maximum rate authorized by the Bond Authorization Act, as amended
at the time of the making of the contract, the minimum
price at which they may be sold shall be such
that the interest cost to the park district of the proceeds of the bonds
shall not exceed the maximum rate authorized by the
Bond Authorization Act,
as amended at the time of the making of the contract,
computed to maturity, according to the
standard table of bond values.
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 1205/9.2-4) (from Ch. 105, par. 9.2-4)
Sec. 9.2-4.
Whenever revenue bonds are issued under Section 9.2-1 of this Article,
all revenue derived from the operation of the tennis, handball,
racquetball, or squash courts or zoos shall be deposited in a separate fund
designated as the "Tennis Court Fund", "Handball Court Fund", "Racquetball
Court Fund", "Squash Court Fund", or "Zoo Fund" of the park district. This
fund shall be used only in paying the cost of operation and maintenance of
the tennis, handball, racquetball, or squash courts or zoo, in providing an
adequate depreciation fund, and in paying the principal of and interest
upon the revenue bonds of the district issued under Section 9.2-1 of this
Article.
A depreciation fund is a fund for such replacements as may be necessary
from time to time for the continued effective and efficient operation of
the tennis, handball, racquetball, or squash courts or zoo. Such fund shall
not be allowed to accumulate beyond a reasonable amount necessary for the
purpose and shall not be used for extensions to the tennis, handball,
racquetball, or squash courts or zoo.
(Source: P.A. 77-2173.)
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(70 ILCS 1205/9.2-5) (from Ch. 105, par. 9.2-5)
Sec. 9.2-5.
Each park district which issues bonds and acquires or constructs or extends
or improves indoor or outdoor tennis courts, handball, racquetball, or squash
courts, or zoos and facilities shall charge for the use thereof at a rate
which at all times is sufficient to pay maintenance and operation costs,
depreciation, and the principal and interest on the bonds. Such district
may make, enact and enforce all needful rules and regulations for the construction,
acquisition, improvement, extension, management, maintenance, care and protection
of its courts or zoo and for the use thereof. Charges or rates for the use
of the courts or zoo facilities shall be such as the board may from time
to time determine.
While any bond issued under Section 9.2-1 of this Article
is outstanding such district is required to maintain and operate its tennis,
handball, racquetball, or squash courts or zoo facilities as long as it
can do so, out of the revenue derived from the operation thereof. It shall
not sell, lease, loan, mortgage or in any other manner dispose of the courts
or zoo facilities until all of the bonds so issued have been paid in full,
both principal and interest, or until provision has been made for the payment
of all the bonds and interest thereon in full. Nothing in this Section
prohibits any park district from leasing any such indoor or outdoor tennis
courts, handball, racquetball, or squash courts, or zoos and facilities
to any school district, municipality, or other unit of local government
or from entering into any other agreement with any school district, municipality,
or other unit of local government by which lease or other agreement such
indoor or outdoor tennis courts, handball, racquetball, or squash courts,
or zoos and facilities may be operated or used in whole or in part by or
for such school district, municipality, or other unit of local government,
where such lease or other agreement is not prohibited by the terms of such
revenue bonds or the ordinance of the park district authorizing them and
where the revenues of the park district derived from such lease or other
agreement are deposited in the fund required by Section 9.2-4 of this Act
in connection with such revenue bonds.
Such a park district shall install and maintain a proper system of accounts,
showing the amount of revenue received from the operation of its tennis,
handball, racquetball, or squash courts or zoo. At least once each year,
the district shall have the accounts properly audited. A report of this
audit shall be open for public inspection at all times.
(Source: P.A. 79-1423.)
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(70 ILCS 1205/9.2-6) (from Ch. 105, par. 9.2-6)
Sec. 9.2-6.
The holder of any bond or of a coupon of any bond issued under Section
9.2-1 of this Article in any civil action, mandamus, injunction or other proceeding,
may enforce and compel performance of all duties required by Sections 9.2-1
through 9.2-5 of this Article. This shall include the duties of
establishing and collecting sufficient rates or charges for the use of the
courts or zoo for the purposes specified in Section 9.1-5 of this Article,
and the application of the revenue thereof as provided by Section 9.1-4 of
this Article.
(Source: P.A. 83-345.)
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