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91_HB0843
LRB9102030MWcs
1 AN ACT to amend the Park District Code by changing
2 Section 5-1.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Park District Code is amended by changing
6 Section 5-1 as follows:
7 (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1)
8 Sec. 5-1. Each Park District has the power to levy and
9 collect taxes on all the taxable property in the district for
10 all corporate purposes. The commissioners may accumulate
11 funds for the purposes of building repairs and improvements
12 and may annually levy taxes for such purposes in excess of
13 current requirements for its other purposes but subject to
14 the tax rate limitation as herein provided.
15 All general taxes proposed by the board to be levied upon
16 the taxable property within the district shall be levied by
17 ordinance. A certified copy of such levy ordinance shall be
18 filed with the county clerk of the county in which the same
19 is to be collected not later than the last Tuesday in
20 December in each year. The county clerk shall extend such
21 tax; provided, the aggregate amount of taxes levied for any
22 one year, exclusive of the amount levied for the payment of
23 the principal and interest on bonded indebtedness of the
24 district and taxes authorized by special referenda shall not
25 exceed the rate of .10%, or the rate limitation in effect on
26 July 1, 1967, whichever is greater, of the value, as
27 equalized or assessed by the Department of Revenue.
28 Any funds on hand at the end of the fiscal year that are
29 not pledged for or allocated to a particular purpose may, by
30 action of the board of commissioners, be transferred to the
31 capital improvement fund and accumulated therein, but the
-2- LRB9102030MWcs
1 total amount accumulated in the fund may not exceed 3% of the
2 aggregate assessed valuation of all taxable property in the
3 park district.
4 The foregoing limitations upon tax rates may be increased
5 or decreased under the referendum provisions of the General
6 Revenue Law of the State of Illinois.
7 (Source: P.A. 86-346; 87-17.)
8 Section 99. Effective date. This Act takes effect upon
9 becoming law.