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| Public Act 094-0682 |
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Addison Creek Restoration Commission Act is | ||||
amended by changing Sections 15 and 20 and by adding Section 17 | ||||
as follows: | ||||
(20 ILCS 3901/15)
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(Section scheduled to be repealed on January 1, 2010) | ||||
Sec. 15. Acceptance of grants, loans, advances, and | ||||
appropriations. The Commission may apply for and accept grants, | ||||
loans, advances, and appropriations from the federal | ||||
government and from the State of Illinois or any agency or | ||||
instrumentality thereof to be used for the purposes of the | ||||
Commission and may enter into any agreement in relation to | ||||
these grants, loans, advances, and appropriations. The | ||||
Commission may also accept from the State, any State agency, | ||||
department, or commission, any unit of local government, any | ||||
railroad, school authority, or jointly therefrom, grants of | ||||
funds or services for any of the purposes of this Act.
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(Source: P.A. 93-948, eff. 8-19-04.) | ||||
(20 ILCS 3901/17 new) | ||||
Sec. 17. Borrowing money and issuance of bonds. | ||||
(a) The Commission may incur debt and borrow money from | ||||
time to time and, in evidence thereof, may issue and sell bonds | ||||
in an amount sufficient to provide funds for carrying out the | ||||
purposes of this Act, to pay all costs and expenses incident to | ||||
issuing the bonds, and to refund and refinance, from time to | ||||
time, bonds so issued and sold. | ||||
(b) Before issuing any bonds under this Section, the | ||||
Commission shall adopt a resolution calling for the submission | ||||
of the question of issuing the bonds and imposing a tax | ||||
sufficient for payment of the interest on the bonds as it falls | ||
due and to pay the bonds as they mature to the voters of that | ||
part of the territory of the Commission that is within the | ||
Addison Creek floodplain in accordance with the general | ||
election law. The question must be in substantially the | ||
following form: | ||
Shall the Commission issue bonds in an amount not to | ||
exceed (insert amount) and levy a tax at a rate not to | ||
exceed (insert rate) of the equalized assessed value of all | ||
taxable property located within that part of the territory | ||
of the Commission that is within the Addison Creek | ||
floodplain for the payment of the interest on the bonds as | ||
it falls due and to pay the bonds as they mature? | ||
The ballot must have printed on it, but not as part of the | ||
proposition submitted, the following: "The approximate impact | ||
of the proposed tax rate on the owner of a single family home | ||
having a market value of (insert value) would be (insert | ||
amount) in the first year of the tax if the tax is fully | ||
implemented." No other information needs to be included on the | ||
ballot.
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The votes must be recorded as "Yes" or "No". | ||
If a majority of the electors voting on the question vote | ||
in the affirmative, the Commission may thereafter issue the | ||
bonds and levy the tax.
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(c) The total amount levied and extended under this Section | ||
and Section 20, in the aggregate, in any single taxable year, | ||
shall not exceed $10,000,000. | ||
(20 ILCS 3901/20)
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(Section scheduled to be repealed on January 1, 2010) | ||
Sec. 20. Taxing powers. | ||
(a) After the first Monday in October and by the first | ||
Monday in December in each year, the Commission shall levy the | ||
general taxes for the Commission by general categories for the | ||
next fiscal year. A certified copy of the levy ordinance shall | ||
be filed with the county clerk of each county in which the that | ||
part of the territory of the Commission that is within the | ||
Addison Creek floodplain is located by the last Tuesday in | ||
December each year. | ||
(b) The amount of taxes levied for general corporate | ||
purposes for a fiscal year may not exceed the rate of .01% of | ||
the value, as equalized or assessed by the Department of | ||
Revenue, of the taxable property located within that part of | ||
the territory of the Commission that is within the Addison | ||
Creek floodplain, provided that the total amount levied and | ||
extended under this Section and Section 17, in the aggregate, | ||
in any single taxable year, shall not exceed $10,000,000. | ||
(c) This tax and tax rate are exclusive of the taxes | ||
required for the payment of the principal of and interest on | ||
bonds. | ||
(d) The rate of the tax levied for general corporate | ||
purposes of the Commission may be initially imposed or | ||
thereafter increased, up to the maximum rate identified in | ||
subsection (b), by the Commission by a resolution calling for | ||
the submission of the question of imposing or increasing the | ||
rate to the voters of that part of the territory of the | ||
Commission that is within the Addison Creek floodplain in | ||
accordance with the general election law. The question must be | ||
in substantially the following form: | ||
Shall the Commission be authorized to establish its | ||
general corporate tax rate at (insert rate) on the | ||
equalized assessed value on all taxable property located | ||
within that part of the territory of the Commission that is | ||
within the Addison Creek floodplain for its general | ||
purposes? | ||
The ballot must have printed on it, but not as part of the | ||
proposition submitted, the following: "The approximate impact | ||
of the proposed (tax rate or increase) on the owner of a single | ||
family home having a market value of (insert value) would be | ||
(insert amount) in the first year of the (tax rate or increase) | ||
if the (tax rate or increase) is fully implemented." The ballot | ||
may have printed on it, but not as part of the proposition, one | ||
or both of the following: "The last tax rate extended for the | ||
purposes of the Commission was (insert rate). The last rate | ||
increase approved for the purposes of the Commission was in | ||
(insert year)." No other information needs to be included on | ||
the ballot. | ||
The votes must be recorded as "Yes" or "No". | ||
If a majority of the electors voting on the question vote | ||
in the affirmative, the Commission may thereafter levy the tax.
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The Commission shall not have the power to levy real property | ||
taxes for any purpose whatsoever.
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(Source: P.A. 93-948, eff. 8-19-04.)
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Section 99. Effective date. This Act takes effect on July | ||
1, 2005.
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