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92_HB0442
LRB9202983MWpk
1 AN ACT concerning sanitary districts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Metropolitan Water Reclamation District
5 Act is amended by changing Section 10 as follows:
6 (70 ILCS 2605/10) (from Ch. 42, par. 329)
7 Sec. 10. At the time or before incurring any
8 indebtedness, the board of trustees shall provide for the
9 collection of a direct annual tax sufficient to pay the
10 interest on such debt as it falls due, and also to pay and
11 discharge the principal thereof as the same shall fall due,
12 and at least within 30 twenty years from the time of
13 contracting the same: Provided that any such tax levied to
14 pay the interest on bonds and to discharge the principal
15 thereof for bonds heretofore issued prior to November 6,
16 1956, or for Refunding Bonds thereafter issued to refund said
17 bonds, shall be levied and extended only upon property within
18 the territorial limits of such sanitary districts as said
19 territorial limits existed on November 6, 1956.
20 (Source: Laws 1955, p. 677.)
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.