Public Act 096-1178
 
HB4639 EnrolledLRB096 14919 HLH 29807 b


  
    AN ACT concerning local government.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  


 
    Section 5. The Conservation District Act is amended  by 
changing Section 15 as follows:
 
    (70 ILCS 410/15)  (from Ch. 96 1/2, par. 7116)
    Sec. 15. (a) Whenever a district does not have sufficient 
money in its
treasury to meet all necessary expenses and 
liabilities thereof, it may
issue tax anticipation warrants. 
Such issue of tax anticipation warrants
shall be subject to the 
provisions of Section 2 of "An Act to provide
for the manner of 
issuing warrants upon the treasurer of the State or of
any 
county, township, or other municipal corporation or quasi 
municipal
corporation, or of any farm drainage district, river 
district, drainage
and levee district, fire protection 
district and jurors' certificates",
approved June 27, 1913, as 
now and hereafter amended.
    (b) For the purpose of acquisition of real property, or 
rights thereto, a
district may incur indebtedness and, as 
evidence of the indebtedness
thus created, may issue and sell 
bonds without first obtaining the
consent of the legal voters 
of the district.
    (c) For the purpose of development of real property, a 
district may incur
indebtedness and, as evidence of the 
indebtedness thus created, may
issue and sell bonds only after 
the proposition to issue bonds has been
submitted to the legal 
voters of the district at an election and has
been approved by 
a majority of those voting on the proposition. Such
election is 
subject to Section 15.1 of this Act.
    (d) No district shall become indebted in any manner or for 
any purpose,
to any amount including existing indebtedness in 
the aggregate exceeding
0.575% of the value, as equalized or 
assessed by the Department of Revenue,
of the taxable property 
therein; except that a district entirely within a
county of 
under
750,000 inhabitants and contiguous to a county of more 
than
2,000,000 inhabitants may incur indebtedness,
including 
existing indebtedness, in the aggregate not
exceeding 1.725% of 
that value if the aggregate indebtedness over 0.575% is

submitted to the legal voters of the district at an election 
and is
approved by a majority of those voting on the 
proposition as provided in
Section 15.1.
    (e) Before or at the time of issuing bonds for acquisition 
or development
of real property, the district shall provide by 
ordinance for the
collection of an annual tax, in addition to 
all other taxes authorized
by this act, sufficient to pay such 
bonds and the interest thereon as
the same respectively become 
due. Such bonds shall be divided into
series, the first of 
which shall mature not later than 5 years after the
date of 
issue and the last of which shall mature not later
than 25 20 
years after the date of issue; shall bear interest at a rate or

rates not exceeding the maximum rate permitted in "An Act to 
authorize
public corporations to issue bonds, other evidences 
of indebtedness and tax
anticipation warrants subject to 
interest rate limitations set forth
therein", approved May 26, 
1970, as now or hereafter amended; shall be
in such form as the 
district shall by
resolution provide and shall be payable as to 
both principal and
interest from the proceeds of the annual 
levy of taxes authorized to be
levied by this Section, or so 
much thereof as will be sufficient to pay
the principal thereof 
and the interest thereon. Prior to the
authorization and 
issuance of such bonds the district may, with or
without 
notice, negotiate and enter into an agreement or agreements 
with
any bank, investment banker, trust company or insurance 
company or group
thereof whereunder the marketing of such bonds 
may be assured and
consummated. The proceeds of such bonds 
shall be deposited in a special
fund, to be kept separate and 
apart from all other funds of the
conservation district.
(Source: P.A. 94-617, eff. 8-18-05.)
 
    Section 10. The Downstate Forest Preserve District Act is 
amended  by changing Section 13 as follows:
 
    (70 ILCS 805/13)  (from Ch. 96 1/2, par. 6323)
    Sec. 13. Bonds; limitation on indebtedness.
The board of 
any forest preserve district organized
hereunder may, for any 
of the purposes enumerated in this Act, borrow
money upon the 
faith and credit of such district, and may issue bonds

therefor. However, a district with a population of less than 
3,000,000
may not become indebted in any manner or for any 
purpose to an amount
including existing indebtedness in the 
aggregate exceeding 2.3% of the
assessed value of the taxable 
property therein, as ascertained by the
last equalized 
assessment for State and county purposes. No district
may incur 
(i) indebtedness
in excess of .3% of the assessed value of 
taxable property in the district,
as ascertained by the last 
equalized assessment for State and county purposes,
for the 
development of forest preserve lands held by the district, or 
(ii)
indebtedness for any other purpose except the acquisition 
of land
including acquiring lands in fee simple along or 
enclosing water
courses, drainage ways, lakes, ponds, planned 
impoundments or elsewhere
which are required to store flood 
waters or control other drainage and
water conditions necessary 
for the preservation and management of the
water resources of 
the District, unless the proposition to issue bonds
or 
otherwise incur indebtedness is certified by the board to the 
proper
election officials who shall submit the proposition at 
an election in accordance
with the general election law, and 
approved by a majority of those voting upon the
proposition. No 
district containing fewer than 3,000,000 inhabitants may
incur 
indebtedness for the acquisition of land or lands for any 
purpose
in excess of 55,000 acres, including all lands 
theretofore acquired,
unless the proposition to issue bonds or 
otherwise incur indebtedness is
first submitted to the voters 
of the district at a referendum in accordance
with the general 
election law and approved by a
majority of those voting upon 
the proposition. Before or at the time of
issuing bonds, the 
board shall provide by ordinance for the collection
of an 
annual tax sufficient to pay the interest on the bonds as it 
falls
due, and to pay the bonds as they mature. All bonds 
issued by any forest
preserve district must be divided into 
series, the first of which
matures not later than 5 years after 
the date of issue and the last of
which matures not later than 
25 20 years after the date of issue, or for bonds issued prior 
to January 1, 2011, commonly known as "Build America Bonds" as 
authorized by Section 54AA of the Internal Revenue Code of 
1986, as amended, and for bonds issued from time to time to 
refund "Build America Bonds", not later than 25 years after the 
date of issue.
    This Section does not apply to a forest preserve district 
created under Section 18.5 of the Conservation District Act.

(Source: P.A. 96-828, eff. 12-2-09.)
 

    Section 99. Effective date. This Act takes effect upon 
becoming law.


Effective Date:  7/22/2010