State of Illinois
92nd General Assembly
Legislation

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92_HB0442enr

 
HB0442 Enrolled                                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.

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