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Rep. William Davis
Filed: 5/15/2018
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| 1 | | AMENDMENT TO HOUSE BILL 4890
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| 2 | | AMENDMENT NO. ______. Amend House Bill 4890 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Park District Code is amended by changing |
| 5 | | Section 6-2 as follows:
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| 6 | | (70 ILCS 1205/6-2) (from Ch. 105, par. 6-2)
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| 7 | | Sec. 6-2.
For the payment of land condemned or purchased |
| 8 | | for parks
or boulevards, for the building, maintaining, |
| 9 | | improving and protecting
of the same and for the payment of the |
| 10 | | expenses incident thereto, or for
the acquisition of real |
| 11 | | estate and lands to be used as a site for an
armory, or for the |
| 12 | | refunding of its bonds which are payable solely from
the |
| 13 | | revenues derived from the operation of any of its facilities, |
| 14 | | any
park district is authorized to issue the bonds or notes of
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| 15 | | such park district and pledge its property and credit therefor |
| 16 | | to an
amount including existing principal indebtedness of such |
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| | 10000HB4890ham001 | - 2 - | LRB100 18830 AWJ 40198 a |
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| 1 | | district so that the
aggregate principal indebtedness of such |
| 2 | | district does not exceed 2.875% of the
value of the taxable |
| 3 | | property therein, to be ascertained by the last
assessment for |
| 4 | | state and county taxes previous to the issue from time to
time |
| 5 | | of such bonds or notes, unless a petition, signed by voters in |
| 6 | | number
equal to not less than 2% of the voters of the district, |
| 7 | | who voted at the
last general election in the district, asking |
| 8 | | that the authorized aggregate
principal indebtedness of the |
| 9 | | district be increased to not more than 5.75%
of the value of |
| 10 | | the taxable property therein, is presented to the board and
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| 11 | | such increase is approved by the voters of the district at a |
| 12 | | referendum
held on the question, in which case such aggregate |
| 13 | | principal indebtedness
may not exceed 5.75% of the value of the |
| 14 | | taxable property in the district.
Notice of the referendum |
| 15 | | shall be given and the referendum conducted in the
manner |
| 16 | | provided by the general election law. Bonds for airport |
| 17 | | purposes
issued by a park district under Section 9-2b, and up |
| 18 | | to $15,000,000 in bonds issued by the Carol Stream Park |
| 19 | | District approved by referendum at the February 2, 2010 general |
| 20 | | primary election, and up to $13,000,000 in bonds issued by the |
| 21 | | Midlothian Park District approved by referendum at the March |
| 22 | | 20, 2018 general primary election are not subject to the
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| 23 | | percentage limitations imposed by, and shall not be considered
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| 24 | | as part of the existing principal indebtedness of that district |
| 25 | | for the
purposes of, this Section or any other applicable |
| 26 | | statutory debt limitation.
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