70 ILCS 1205/9-2c
2021 Illinois Compiled Statutes|Chapter 70 - SPECIAL DISTRICTS|70 ILCS 1205/ - Park District Code.|Article 9 - Powers (Continued) Swimming Pools--Airport Grants--Airports

 (from Ch. 105, par. 9-2c)Sec. 9-2c.   Whenever the proposition is submitted to the voters of any  park district to levy a tax for the purpose of acquiring, constructing,  maintaining, and operating airports and landing fields for aircraft as  provided in Section 9-2b, and a majority of the votes cast upon the  proposition is in favor of the levy of such tax, the board of any such  park district may provide that bonds of such park district be issued for  the purpose of acquiring and constructing airports and landing fields  for aircraft, or for the purpose of improving and extending such  facilities when constructed. The bonds shall be authorized by ordinance  of the board, shall mature serially in not to exceed 20 years from their  date, and bear such rate of interest as the board may determine, not,  however, to exceed the maximum rate authorized by the Bond Authorization  Act, as amended at the time of the making of the contract, payable  semi-annually, and shall be sold by the board as it may determine but for  not less than the par value thereof and accrued interest. The bonds shall  be signed by the president (or such official as the board may designate)  and secretary and countersigned by the treasurer with the corporate seal of  the district affixed. The bonds shall be authorized by the board of the  district by ordinance which shall fix all the details of the bonds and  provide for a levy of a tax sufficient to pay the principal of and interest  on the bonds as they mature. A certified copy of the ordinance shall be  filed in the office of the clerk of the county wherein the park district is  situated, and the county clerk shall extend a tax sufficient to pay the  principal of and interest on the bonds as they mature without limitation as  to rate or amount, and the county clerk shall reduce the tax rate levied by  the district pursuant to Section 9-2b by the amount of the rate extended  for payment of principal and interest of the bonds. The clerk shall extend  the tax as provided in Section 6-6. If the rate necessary to be extended  for the payment of principal and interest of the bonds exceeds the rate  authorized to be levied by the district, pursuant to Section 9-2b, then the  rate of tax for the payment of bonds and interest only shall be extended.  Where the district is situated in more than one county the tax shall be  certified, apportioned and levied as provided in Section 5-4.  Notwithstanding the foregoing, after July 28, 1969, any park district may  issue bonds under this Section for the purpose of maintaining, improving or  replacing its existing airport facilities or landing fields to the extent  required to conform to the standards of the Department of Transportation or  of any appropriate federal agency relating to a State or federal airports  plan or airways system. If such bonds are issued the tax levied for the  payment of principal and interest of the bonds as they mature shall be in  addition to that levied by the district under Section 9-2b and the county  clerk shall extend both taxes accordingly. The aggregate principal amount  of bonds issued under this Section that may be outstanding at any time may not  exceed 1/2 of 1% of the aggregate valuation of all taxable property within  the district, as equalized or assessed by the Department of Revenue. No bond  ordinance may take effect nor may bonds be issued thereunder if the amount  of bonds taken with the outstanding principal indebtedness under this Section  exceeds the 1/2 of 1% limit unless the question of whether such additional  bonds shall be issued is submitted to the legal voters of the district, in  the manner provided by Section 6-4, and a majority of those voting on the  proposition vote in favor thereof. In no event may the principal aggregate  amount of any bonds issued under such ordinance exceed, together with the  principal amount of bonds previously issued under this Section and then  outstanding, 1 1/4% of the aggregate valuation of all taxable property  within the district, as equalized or assessed by the Department of Revenue.Bonds issued under this Section are not a part of the existing  indebtedness of a park district for purposes of Article 6 of this Code.With respect to instruments for the payment of money issued under this  Section either before, on, or after June 6, 1989 (the effective date of Public Act 86-4), 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. 100-201, eff. 8-18-17.)