(70 ILCS 1205/9.1-2) (from Ch. 105, par. 9.1-2)
Sec. 9.1-2.
Whenever any park district determines to acquire or
construct, or extend or improve a golf course and facilities and to
issue bonds under Section 9.1-1 of this Article to pay the cost thereof,
its board shall adopt an ordinance describing in a general way the
contemplated project and refer to plans and specifications therefor.
These plans and specifications shall be filed in the office of the
secretary of the district and shall be open for inspection by the
public.
This ordinance shall set out the estimated cost of the project,
determine the period of usefulness thereof, fix the amount of revenue
bonds to be issued, the maturities thereof, the interest rate, which
shall not exceed the maximum rate authorized by the
Bond Authorization Act, as amended at time of the making of the contract,
payable annually or semi-annually, and all
the details in connection with the bonds. The bonds shall mature within
the period of usefulness of the project as determined by the board. The
ordinance may also contain such covenants and restrictions upon the
issuance of additional revenue bonds thereafter as may be deemed
necessary or advisable for the assurance of the payment of the bonds
thereby authorized. The ordinance shall also pledge the revenue derived
from the operation of the golf course for the purpose of paying
maintenance and operation costs, providing an adequate depreciation
fund, and paying the principal and interest of the bonds issued
hereunder. The ordinance may also pledge the revenue derived from the
operation of an existing golf course, or courses, and appurtenant
facilities, for such purpose.
After this ordinance has been adopted it shall within 10 days after
its passage be published once in a newspaper published and having a
general circulation in the park district, or, if there is no such
newspaper, then in some newspaper having a general circulation in the
county wherein such district or the greater or greatest portion in area
of such district lies. The publication or posting of the ordinance shall
include a notice of (1) the specific number of voters required to sign a
petition requesting that the question of the adoption of the ordinance be
submitted to the electors of the district; (2) the time in which the
petition must be filed; and (3) the date of the prospective referendum. The
Secretary of the governing board of the park district shall provide a
petition form to any individual requesting one.
If no valid petition requesting a referendum is filed with the secretary
of the district within 30 days after the publication or posting of the
ordinance, the ordinance shall be in effect. But if within this 30 day
period a petition is so filed, signed by electors of the district equal to
10% or more of the registered voters in the district, asking that the
question of acquiring and operating or constructing and operating such a
golf course, or extending or improving such a golf course, and the issuance
of such bonds be submitted to the electors of the district, the board shall
certify such question to the proper election officials, who shall submit
that question at an election held in the district.
The proposition shall be in the following
form:
--------------------------------------------------------------------------------------------------------------------- Shall the..... ParkDistrict issue Revenue Bonds YESfor acquiring (or constructing, or --------------------------------------------------------------------------extending, or improving) NOa golf course?---------------------------------------------------------------------------------------------------------------------
Notice of such referendum shall be given and such referendum conducted in
the manner provided by the general election law.
If a majority of the electors voting upon that question voted in favor of
acquiring and operating, or constructing and operating the golf course,
or extending or improving such golf course, and the issuance of the
bonds, the ordinance shall be in effect, otherwise the ordinance shall
not go into effect.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4; 87-767.)
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