Public Act 098-0835
 
SB2975 EnrolledLRB098 13873 OMW 48486 b

    AN ACT concerning local government.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Downstate Forest Preserve District Act is
amended by changing Section 13 as follows:
 
    (70 ILCS 805/13)  (from Ch. 96 1/2, par. 6323)
    Sec. 13. Bonds; limitation on indebtedness. The board of
any forest preserve district organized hereunder may, for any
of the purposes enumerated in this Act, borrow money upon the
faith and credit of such district, and may issue bonds
therefor. However, a district with a population of less than
3,000,000 may not become indebted in any manner or for any
purpose to an amount including existing indebtedness in the
aggregate exceeding 2.3% of the assessed value of the taxable
property therein, as ascertained by the last equalized
assessment for State and county purposes. No district, except
for the Byron Forest Preserve District, may incur (i)
indebtedness in excess of .3% of the assessed value of taxable
property in the district, as ascertained by the last equalized
assessment for State and county purposes, for the development
of forest preserve lands held by the district, or (ii)
indebtedness for any other purpose except the acquisition of
land including acquiring lands in fee simple along or enclosing
water courses, drainage ways, lakes, ponds, planned
impoundments or elsewhere which are required to store flood
waters or control other drainage and water conditions necessary
for the preservation and management of the water resources of
the District, unless the proposition to issue bonds or
otherwise incur indebtedness is certified by the board to the
proper election officials who shall submit the proposition at
an election in accordance with the general election law, and
approved by a majority of those voting upon the proposition. No
district containing fewer than 3,000,000 inhabitants may incur
indebtedness for the acquisition of land or lands for any
purpose in excess of 55,000 acres, including all lands
theretofore acquired, unless the proposition to issue bonds or
otherwise incur indebtedness is first submitted to the voters
of the district at a referendum in accordance with the general
election law and approved by a majority of those voting upon
the proposition. Before or at the time of issuing bonds, the
board shall provide by ordinance for the collection of an
annual tax sufficient to pay the interest on the bonds as it
falls due, and to pay the bonds as they mature. All bonds
issued by any forest preserve district must be divided into
series, the first of which matures not later than 5 years after
the date of issue and the last of which matures not later than
25 years after the date of issue, or for bonds issued prior to
January 1, 2011, commonly known as "Build America Bonds" as
authorized by Section 54AA of the Internal Revenue Code of
1986, as amended, and for bonds issued from time to time to
refund "Build America Bonds", not later than 25 years after the
date of issue.
    Notwithstanding any contrary provision in this Section,
the Byron Forest Preserve District may not incur (i)
indebtedness in excess of .6% of the assessed value of taxable
property in the district, as ascertained by the last equalized
assessment for State and county purposes, for the development
of forest preserve lands held by the district, or (ii)
indebtedness for any other purpose except the acquisition of
land including acquiring lands in fee simple along or enclosing
water courses, drainage ways, lakes, ponds, planned
impoundments or elsewhere which are required to store flood
waters or control other drainage and water conditions necessary
for the preservation and management of the water resources of
the District, unless the proposition to issue bonds or
otherwise incur indebtedness is certified by the board to the
proper election officials who shall submit the proposition at
an election in accordance with the general election law, and
approved by a majority of those voting upon the proposition.
    For a bond proposition put forward by a district organized
under this Act, the ballot must have printed on it, but not as
part of the proposition submitted, the following language:
        The approximate impact of the proposed increase on the
    owner of a single-family home having a market value of
    (insert value) would be (insert amount) in the first year
    of the increase if the increase is fully implemented.
    This Section does not apply to a forest preserve district
created under Section 18.5 of the Conservation District Act.
(Source: P.A. 96-828, eff. 12-2-09; 96-1178, eff. 7-22-10;
97-364, eff. 8-15-11.)