[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_SB0152
LRB9102157DHmb
1 AN ACT to amend the River Conservancy Districts Act by
2 changing Sections 15.1 and 26b.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The River Conservancy Districts Act is
6 amended by changing Sections 15.1 and 26b as follows:
7 (70 ILCS 2105/15.1) (from Ch. 42, par. 398.1)
8 Sec. 15.1. Power to borrow money; bonds; ordinance;
9 referendum. Any river conservancy district organized under
10 this Act for the purpose of carrying out the powers conferred
11 by Section 11 of this Act may borrow money and as evidence
12 thereof may issue bonds, payable solely from revenue derived
13 from the facilities authorized to be constructed, purchased,
14 or acquired by Section 11 of this Act. These bonds may be
15 issued in such amounts as may be necessary to provide
16 sufficient funds to pay all costs of acquiring the land for
17 any such facility or constructing such facility or both,
18 including engineering, legal, and other expenses, together
19 with interest on the bonds to a date 6 months subsequent to
20 the estimated date of completion.
21 Whenever the trustees determine to acquire land for any
22 of the purposes enumerated in Section 11 of this Act and to
23 issue bonds under this Section for the payment of the cost
24 thereof, the board of trustees shall adopt an ordinance
25 describing in a general way the contemplated project and
26 refer to the preliminary plans and engineering reports
27 therefor. These preliminary plans and engineering reports
28 shall be filed with the secretary of the board of trustees
29 and shall be open for inspection by the public.
30 This ordinance shall set out the estimated cost of the
31 project, fix the amount of revenue bonds to be issued, the
-2- LRB9102157DHmb
1 maturity or maturities thereof, the interest rate, which
2 shall not exceed the rate permitted in the Bond Authorization
3 Act, payable annually or semi-annually, and all details in
4 connection with the bonds. The ordinance shall provide that
5 the entire revenue from the facilities to be constructed or
6 acquired with the proceeds of the sale of said bonds shall be
7 set aside as collected and deposited in a separate fund, and
8 a sufficient amount thereof shall be used solely in paying
9 the cost of maintenance and operation of such improvement or
10 facility, in providing an adequate depreciation fund, and in
11 paying the principal of and the interest on said bonds, as
12 they mature. The ordinance may also provide for the issuance
13 of additional bonds for the completion of the improvement or
14 facility on a parity with the bonds originally issued
15 thereunder. The ordinance shall provide that the conservancy
16 district will operate such improvement or facility
17 continuously and that it will fix and maintain rates or
18 charges for service from or use of the facilities constructed
19 or acquired at all times sufficient to pay promptly the cost
20 of maintenance and operation of the facilities so constructed
21 or acquired, to provide an adequate depreciation fund, to pay
22 the principal of and interest on the bonds authorized by the
23 ordinance, and to maintain a proper reserve fund. The
24 ordinance shall empower the conservancy district to make such
25 covenants with respect to setting aside the income and
26 revenue to be derived from the operation of the facilities as
27 may be deemed advisable to assure prompt payment of the bonds
28 and interest thereon as they mature.
29 After this ordinance has been adopted, it shall be
30 published in the same manner and form as is required for
31 other ordinances of the district.
32 The publication of the ordinance shall include a notice
33 of (1) the specific number of voters required to sign a
34 petition requesting that the question of the adoption of the
-3- LRB9102157DHmb
1 ordinance be submitted to the electors of the district; (2)
2 the time in which such petition must be filed; and (3) the
3 date of the prospective referendum. The publication also
4 shall include a general description of the boundaries of the
5 district using easily recognized descriptions. The secretary
6 of the board shall provide a petition form to any individual
7 requesting one.
8 If no petition is filed with the secretary of the board
9 as provided in this section within 30 days after the
10 publication or posting of this ordinance, the ordinance shall
11 be in effect after the expiration of this 30 day period. If
12 within the 30 day period a petition is filed with the
13 secretary of the board signed by the requisite number of
14 voters of the district numbering 10% or more of the
15 registered voters in the conservancy district asking that the
16 question of acquiring land for the conservancy district or
17 constructing or acquiring the facilities described in the
18 ordinance and the issuance of the specified bonds be
19 submitted to the electors thereof, the board of trustees
20 shall certify the question to the proper election officials
21 who shall submit the question at an election in accordance
22 with the general election law. The petition must be signed by
23 district voters equal in number to 5% or more of the total
24 number of voters in the district who voted at the last
25 preceding general election at which electors of the President
26 and Vice-President of the United States were elected.
27 If a majority of the votes cast on the question are in
28 favor of the project, and in favor of the issuance of the
29 specified bonds, the ordinance shall be in effect. But if a
30 majority of the votes cast on the question are against the
31 project and the issuance of the bonds, the ordinance shall
32 not become effective. If the ordinance becomes effective it
33 shall be recorded in the recorder's office in the county or
34 counties in which the property is located.
-4- LRB9102157DHmb
1 Bonds issued under this Section are negotiable
2 instruments, and shall be executed by the president and by
3 the secretary of the board of trustees. In case any officer
4 whose signature appears on the bonds or coupons ceases to
5 hold office before the bonds are delivered, his signature,
6 nevertheless shall be valid and sufficient for all purposes,
7 the same as though he had remained in office until the bonds
8 were delivered.
9 (Source: P.A. 87-767.)
10 (70 ILCS 2105/26b) (from Ch. 42, par. 409b)
11 Sec. 26b. Dissolution of district. A river conservancy
12 district organized under this Act may be dissolved in the
13 following manner:
14 Its board of trustees shall adopt an ordinance finding
15 and determining that all outstanding debts and obligations
16 have been discharged or assumed by another public agency and
17 that the public interest does not require continuation of the
18 district. The publication of the ordinance shall be
19 accompanied by a notice of (1) the specific number of voters
20 required to sign a petition requesting the question of
21 dissolving the district to be submitted to the electors; (2)
22 the time in which such petition must be filed; and (3) the
23 date of the prospective referendum. The publication also
24 shall include a general description of the boundaries of the
25 district using easily recognized descriptions. The district
26 secretary shall provide a petition form to any individual
27 requesting one.
28 Unless a petition shall be filed with the board within 30
29 days after such publication containing the signatures of a
30 requisite number of electors residing in the district equal
31 to 10% or more of the registered voters in the district
32 requesting that the question of the dissolution of the
33 district be submitted to an election, the district shall be
-5- LRB9102157DHmb
1 deemed to be dissolved at the expiration of the 30 day
2 period. If such a petition is filed, the question of the
3 dissolution of the district shall be certified to the proper
4 election officials, who shall submit the question to the
5 electors of the district at an election in accordance with
6 the general election law. The petition must be signed by
7 district voters equal in number to 5% or more of the total
8 number of voters in the district who voted at the last
9 preceding general election at which electors of the President
10 and Vice-President of the United States were elected.
11 The question shall be in substantially the following
12 form:
13 -------------------------------------------------------------
14 "Shall the ........... YES
15 River Conservancy District
16 -----------------------------
17 be dissolved?" NO
18 -------------------------------------------------------------
19 The result of the election shall be entered upon the
20 corporate records of the district. If a majority of the
21 ballots cast on the question are marked "yes" the district
22 shall be dissolved. But if a majority of the ballots on the
23 question are marked "no", the corporate authorities shall
24 proceed with the affairs of the district as though the
25 dissolution ordinance had never been adopted, and, in such
26 case, the question shall not again be considered for a period
27 of one year. When the business and affairs of any such
28 district have been closed up after dissolution, such fact
29 shall be certified by the board of trustees to the county
30 clerk and recorder of the county or counties in which the
31 district was situated and to the Secretary of State. All
32 assets of the district remaining after the closing up of
33 business affairs and the retiring of all debts and
34 obligations shall be paid to the corporate fund of the
-6- LRB9102157DHmb
1 township in which such district was situated. If such
2 district was situated in 2 or more townships, the assets
3 shall be divided on a pro rata basis between the corporate
4 fund of each township according to the value, as equalized
5 and assessed by the Department of Revenue, of all taxable
6 property in each township situated within the boundaries of
7 such district.
8 (Source: P.A. 87-767.)