(65 ILCS 5/8-6-3) (from Ch. 24, par. 8-6-3)
Sec. 8-6-3.
For the purpose of providing money for such a working
cash fund, the corporate authorities also have the power to levy
annually, upon all the taxable property in the municipality, a tax of
not to exceed .05% upon the value, as equalized or assessed by the
Department of Revenue, of that property for purposes of
taxation for the year in which each such levy is made.
The collection of this tax shall not be anticipated by the issuance
of any warrants drawn against the tax. This tax shall be levied and
collected, except as otherwise provided in this Section, in like manner
as are the general taxes of the collecting municipality. It shall be
known as the working cash fund tax and shall be in addition to the
maximum of all other taxes which that municipality is now, or may be
hereafter, authorized by law to levy upon the taxable property within
the municipality.
This tax may be levied by a separate ordinance prior to March 28 in
each year. This tax may be levied for the purpose specified in this
Section without any appropriation thereof being made in the annual or
supplemental appropriation ordinance.
No tax shall be levied under this Section if the municipality has
previously issued the maximum amount of bonds permitted under Section
8-6-2.
(Source: P.A. 81-1509.)
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