State of Illinois
91^st General Assembly
Public Acts

Public Act 91-0294

HB0843 Enrolled                                LRB9102030MWcs

    AN ACT to  amend  the  Park  District  Code  by  changing
Section 5-1.

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

    Section 5.  The Park District Code is amended by changing
Section 5-1 as follows:

    (70 ILCS 1205/5-1) (from Ch. 105, par. 5-1)
    Sec. 5-1. Each Park District has the power  to  levy  and
collect taxes on all the taxable property in the district for
all  corporate  purposes.  The  commissioners  may accumulate
funds for the purposes of building repairs  and  improvements
and  may  annually  levy taxes for such purposes in excess of
current requirements for its other purposes  but  subject  to
the tax rate limitation as herein provided.
    All general taxes proposed by the board to be levied upon
the  taxable  property within the district shall be levied by
ordinance. A certified copy of such levy ordinance  shall  be
filed  with  the county clerk of the county in which the same
is to be  collected  not  later  than  the  last  Tuesday  in
December  in  each  year.  The county clerk shall extend such
tax; provided, the aggregate amount of taxes levied  for  any
one  year,  exclusive of the amount levied for the payment of
the principal and interest  on  bonded  indebtedness  of  the
district  and taxes authorized by special referenda shall not
exceed the rate of .10%, or the rate limitation in effect  on
July  1,  1967,  whichever  is  greater,  of  the  value,  as
equalized or assessed by the Department of Revenue.
    Any  funds on hand at the end of the fiscal year that are
not pledged for or allocated to a particular purpose may,  by
action  of  the  board  of commissioners, be transferred to a
capital improvement fund and  accumulated  therein,  but  the
total  amount  accumulated in the fund may not exceed 1.5% of
the aggregate assessed valuation of all taxable  property  in
the park district.
    The foregoing limitations upon tax rates may be increased
or  decreased  under the referendum provisions of the General
Revenue Law of the State of Illinois.
(Source: P.A. 86-346; 87-17.)

    Section 99.  Effective date.  This Act takes effect  upon
becoming law.