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Public Act 92-0884
SB1650 Enrolled SRS92SB0057NCap
AN ACT in relation to taxes.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
ARTICLE 5
Section 5-1. Short title. This Article may be cited as
the Municipal Validation Law of 2002.
Section 5-5. Redevelopment actions; validation. All
actions taken before the effective date of this Law by any
municipality pursuant to the Tax Increment Allocation
Redevelopment Act for purposes of approving a redevelopment
plan and redevelopment project, designating a redevelopment
project area, and adopting tax increment allocation financing
are validated, ratified, and confirmed as valid actions in
full force and effect as of the date of adoption of the
ordinance of the municipality approving the redevelopment
plan and project, notwithstanding that an ordinance
designating the redevelopment project area was not adopted on
that date and an ordinance adopting tax increment allocation
financing was not adopted on that date, provided that, no
later than 180 days after the effective date of this Law, the
governing body of the municipality adopts an ordinance
designating the redevelopment project area and an ordinance
adopting tax increment allocation financing for the
redevelopment project area.
Section 5-10. Election validation. All actions taken
before the effective date of this Law with respect to a
public question authorizing the issuance of general
obligation bonds of a municipality that was submitted to and
approved by the electors of that municipality at the general
primary election held on March 19, 2002 and all bonds issued
or to be issued by that municipality pursuant to that
approval are ratified, validated, and confirmed as lawful
actions to authorize the issuance of those bonds and any such
bonds shall be lawful, valid, and binding general obligations
of that municipality, notwithstanding that the notice of
election and the form of public question approved by the
electors at that election did not conform to the requirements
of applicable law, provided that the notice of election and
the public question did set forth the principal amount of the
bonds and the capital improvements to be financed by the
bonds and that no bond issued by virtue of the approval of
the public question shall bear interest at a rate exceeding
7% per annum.
ARTICLE 10
Section 10-1. Short title. This Article may be cited as
the Maywood Public Library District Tax Levy Validation
(2002) Law.
Section 10-5. Tax levy ordinances of the Maywood Public
Library District. If the Maywood Public Library District has,
during the fiscal years 2001 and 2002, within the time
required by law adopted annual appropriation ordinances for
those years but failed to adopt its annual tax levy ordinance
for the tax year 2001 (collectible in 2002), but adopts its
2001 tax levy or a supplemental or deficiency 2001 tax levy,
or both, by the last Tuesday of December 2002, and duly files
the same with the county clerk of the county in which the
district is located, then any such tax levy ordinances and
supplemental or deficiency tax levy ordinance and the taxes
assessed, levied, and extended thereon are hereby validated
notwithstanding any failure to comply with the Truth in
Taxation Law or the Cook County Truth in Taxation Law and
further notwithstanding any failure to comply with the
provisions of the Property Tax Extension Limitation Law or
any other law. No 2001 tax levy or supplemental or deficiency
levy, however, is validated to the extent it would have
exceeded the maximum amount the district could have levied
under the Property Tax Extension Limitation Law if the tax
levy ordinance or supplemental or deficiency levy ordinance
had been adopted and filed in due time in calendar year 2001.
Any such tax levy or supplemental or deficiency levy shall be
extended by the county clerk of the county in which the
public library district is located by adding the amount of
the 2001 tax levy or supplemental or deficiency levy to the
district's validly enacted 2002 tax levy, regardless of
whether that 2001 tax levy is in the form of a customary
annual tax levy or in the form of a supplemental or
deficiency tax levy. Moreover, if the district has received
any tax revenue for the calendar year 2001 intended for the
payment of principal and interest on outstanding bonds of the
district and the district has used any portion or all of that
tax revenue for normal operating expenses, that use of those
funds is hereby validated if the district issues either tax
anticipation warrants or notes to provide funds sufficient to
replace that bond revenue used for operating expenses prior
to default on any bond payments; further, the use of the
proceeds of the issuance of those notes or warrants to make
the bond payments when due is further hereby validated.
Section 10-905. The Property Tax Code is amended by
adding Sections 18-92, 18-101.47, and 18-197 as follows:
(35 ILCS 200/18-92 new)
Sec. 18-92. Maywood Public Library District Tax Levy
Validation (2002) Law. The provisions of the Truth in
Taxation Law are subject to the Maywood Public Library
District Tax Levy Validation (2002) Law.
(35 ILCS 200/18-101.47 new)
Sec. 18-101.47. Maywood Public Library District Tax Levy
Validation (2002) Law. The provisions of the Cook County
Truth in Taxation Law are subject to the Maywood Public
Library District Tax Levy Validation (2002) Law.
(35 ILCS 200/18-197 new)
Sec. 18-197. Maywood Public Library District Tax Levy
Validation (2002) Law. The provisions of the Property Tax
Extension Limitation Law are subject to the Maywood Public
Library District Tax Levy Validation (2002) Law.
ARTICLE 99
Section 99-99. Effective date. This Act takes effect
upon becoming law.
Passed in the General Assembly January 07, 2003.
Approved January 13, 2003.
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