50 ILCS 450/ Medical Service Facility Act.

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50 ILCS 450/1

(50 ILCS 450/1) (from Ch. 85, par. 921)

Sec. 1.

This Act shall be known and may be cited as the "Medical Service
Facility Act".

(Source: P.A. 76-660.)

50 ILCS 450/2

(50 ILCS 450/2) (from Ch. 85, par. 922)

Sec. 2.

As used in this Act, unless the context otherwise requires, the terms
specified in Sections 2.1 through 2.3 have the meanings ascribed to them in
those Sections.

(Source: P.A. 76-660.)

50 ILCS 450/2.1

(50 ILCS 450/2.1) (from Ch. 85, par. 922.1)

Sec. 2.1.

"Corporate authority" means the county board of a county, the city council
of a city, or
the board of trustees of a village or incorporated town.

(Source: P.A. 86-1028.)

50 ILCS 450/2.2

(50 ILCS 450/2.2) (from Ch. 85, par. 922.2)

Sec. 2.2.

"Medical service facility" means any building set aside for use as a
medical or dental office or clinic, including the land appurtenant thereto
and furnishings and equipment useful for its function.

(Source: P.A. 76-660.)

50 ILCS 450/2.3

(50 ILCS 450/2.3) (from Ch. 85, par. 922.3)

Sec. 2.3.

"Doctor" means a person licensed to practice medicine in all of its
branches or dentistry in this State.

(Source: P.A. 76-660.)

50 ILCS 450/3

(50 ILCS 450/3) (from Ch. 85, par. 923)

Sec. 3.

The purpose of this Act is to enable local governmental units to serve
the needs of the public more effectively in the several communities of this
State in which the health and welfare of the people are endangered by the
lack of adequate medical service by providing medical service facilities
for lease in order to make settlement in the community more attractive to
doctors.

(Source: P.A. 76-660.)

50 ILCS 450/4

(50 ILCS 450/4) (from Ch. 85, par. 924)

Sec. 4.

The corporate authority of any county having less than 200,000
inhabitants or of any municipality may by resolution:

(1) provide for the acquisition, construction and equipping of a
medical service facility within the county or municipality, as the case
may be, to be leased to one or more doctors;

(2) provide for the incurrence of an indebtedness for that purpose;

(3) provide for the issuance of general obligation bonds as security
for that debt; and

(4) levy a tax, in addition to all other taxes, for the purpose of
amortizing such bonds and specify a maximum rate at which such tax may
be extended in relation to the value of all taxable property in the
county or municipality, as the case may be, as equalized or assessed by
the Department of Revenue.

However, no resolution providing for the issuance of bonds or the
levy of taxes authorized by this Act shall be effective until it has
been submitted to a referendum of the electors of the acting county or
municipality in accordance with the general election law. The question
in such referendum shall specify the maximum rate
at which the proposed tax
may be extended.  If a majority of
those voting upon the proposition at such referendum vote in favor of
issuing such bonds and levying such taxes, then the resolution shall
immediately become effective.

(Source: P.A. 81-1489; 81-1509.)

50 ILCS 450/5

(50 ILCS 450/5) (from Ch. 85, par. 925)

Sec. 5.

The resolution
authorizing the issuance of such bonds shall specify the
total amount of bonds to be issued, the form and denomination of the bonds,
the date they are to bear, the place where they are payable, the date or
dates of maturity, which shall not be more than 20 years after the date the
bonds bear, the rate of interest which shall not exceed the 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 and
the dates on which interest is payable.

The tax authorized to be levied and collected under this Act shall be
extended annually against all the taxable property within the county or
municipality, as the case may be, at such a rate that the proceeds of the
tax, when combined with the rental income derived from the medical service
facility, will be sufficient to pay the principal of the bonds at maturity
and to pay the interest thereon as it falls due.

(Source: P.A. 82-902.)

50 ILCS 450/6

(50 ILCS 450/6) (from Ch. 85, par. 926)

Sec. 6.

The bonds shall be executed by such officials as may be provided in the
resolution authorizing the issue. They may be made registerable as to
principal and may be made callable on any interest payment date at par and
accrued interest after notice has been given at the time and in the manner
provided in the resolution. The bonds shall remain valid even though one or
more of the officers executing the bonds ceases to hold office before the
bonds are delivered.

(Source: P.A. 76-660.)

50 ILCS 450/7

(50 ILCS 450/7) (from Ch. 85, par. 927)

Sec. 7.

The resolution may provide for the creation of a sinking fund to consist
of the proceeds of the taxes levied under this Act and the rental income
derived from the medical service facility. This fund shall be faithfully
applied to the purchase or payment of bonds issued under this Act and the
interest thereon.

(Source: P.A. 76-660.)

50 ILCS 450/8

(50 ILCS 450/8) (from Ch. 85, par. 928)

Sec. 8.

The bonds shall be sold to the highest and best bidder at not less than
their par value and accrued interest. The corporate authority shall
advertise for proposals to purchase the bonds. Such advertisement shall be
published at least once in a newspaper having circulation within the county
or municipality, as the case may be, at least 10 days before the date for
opening the bids. The corporate authority may reserve the right to reject
any and all bids and to readvertise for bids.

(Source: P.A. 76-660.)

50 ILCS 450/9

(50 ILCS 450/9) (from Ch. 85, par. 929)

Sec. 9.

The corporate authority may lease or rent the medical service facility
on terms that may be fixed and revised from time to time with consideration
being given both to the need for revenue to reduce the tax rate required
for the amortization of the bonds and to the overall purpose of providing
better medical service for the community.

(Source: P.A. 76-660.)

50 ILCS 450/10

(50 ILCS 450/10) (from Ch. 85, par. 930)

Sec. 10.

The corporate authority may mortgage the medical service facility in
favor of the holders of bonds issued under this Act. Property acquired
under this Act is exempt from taxation.

(Source: P.A. 76-660.)