093_SB1567eng

 
SB1567 Engrossed                     LRB093 02949 RCE 02965 b

 1        AN ACT in relation to airports.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Airport  Authorities Act is amended by
 5    changing Section 2a.1 as follows:

 6        (70 ILCS 5/2a.1) (from Ch. 15 1/2, par. 68.2a1)
 7        Sec. 2a.1 Petition; setting forth tax rate. The  petition
 8    may,  in  addition to the matters required to be set forth in
 9    Section 2.1 of this Act, also set forth a tax  rate,  not  to
10    exceed  the  rate specified in Section 13, as the maximum tax
11    rate for the proposed Authority. In such case, such  proposed
12    maximum  tax  rate  shall  be  included  in  the  proposition
13    submitted  as  provided in Section 2.3, and, in the event the
14    Authority is established, the aggregate amount of  its  taxes
15    for  any  one year, exclusive of the amount levied for bonded
16    indebtedness or  interest  thereon,  shall  not  exceed  such
17    maximum  tax rate, unless an increase in such maximum rate is
18    authorized by vote of the electors within  the  Authority  as
19    provided in Section 13.1.
20    (Source: Laws 1963, p. 1837.)