70 ILCS 1205/9.1-2
2021 Illinois Compiled Statutes|Chapter 70 - SPECIAL DISTRICTS|70 ILCS 1205/ - Park District Code.|Article 9.1 - Powers (Continued) Golf Courses

 (from Ch. 105, par. 9.1-2)Sec. 9.1-2.         Whenever any park district determines to acquire or  construct, or extend or improve a golf course and facilities and to  issue bonds under Section 9.1-1 of this Article to pay the cost thereof,  its board shall adopt an ordinance describing in a general way the  contemplated project and refer to plans and specifications therefor.  These plans and specifications shall be filed in the office of the  secretary of the district and shall be open for inspection by the  public.This ordinance shall set out the estimated cost of the project,  determine the period of usefulness thereof, fix the amount of revenue  bonds to be issued, the maturities thereof, the interest rate, which  shall not exceed the maximum rate authorized by the  Bond Authorization Act, as amended at time of the making of the contract,  payable annually or semi-annually, and all  the details in connection with the bonds.  The bonds shall mature within  the period of usefulness of the project as determined by the board.  The  ordinance may also contain such covenants and restrictions upon the  issuance of additional revenue bonds thereafter as may be deemed  necessary or advisable for the assurance of the payment of the bonds  thereby authorized.  The ordinance shall also pledge the revenue derived  from the operation of the golf course for the purpose of paying  maintenance and operation costs, providing an adequate depreciation  fund, and paying the principal and interest of the bonds issued  hereunder.  The ordinance may also pledge the revenue derived from the  operation of an existing golf course, or courses, and appurtenant  facilities, for such purpose.After this ordinance has been adopted it shall within 10 days after  its passage be published once in a newspaper published and having a  general circulation in the park district, or, if there is no such  newspaper, then in some newspaper having a general circulation in the  county wherein such district or the greater or greatest portion in area  of such district lies. The publication or posting of the ordinance shall  include a notice of (1) the specific number of voters required to sign a  petition requesting that the question of the adoption of the ordinance be  submitted to the electors of the district; (2) the time in which the  petition must be filed; and (3) the date of the prospective referendum. The  Secretary of the governing board of the park district shall provide a  petition form to any individual requesting one.If no valid petition requesting a referendum is filed with the secretary  of the district within 30 days after the publication or posting of the  ordinance, the ordinance shall be in effect.  But if within this 30 day  period a petition is so filed, signed by electors of the district equal to  10% or more of the registered voters in the district, asking that the  question of acquiring and operating or constructing and operating such a  golf course, or extending or improving such a golf course, and the issuance  of such bonds be submitted to the electors of the district, the board shall  certify such question to the proper election officials, who shall submit  that question at an election held in the district.The proposition shall be in the following  form:    --------------------------------------------------------------Shall the..... ParkDistrict issue  Revenue Bonds          YESfor acquiring (or constructing, or  --------------------------extending, or improving)               NOa golf course?--------------------------------------------------------------    Notice of such referendum shall be given and such referendum conducted in  the manner provided by the general election law.If a majority of the electors voting upon that question voted in favor of  acquiring and operating, or constructing and operating the golf course,  or extending or improving such golf course, and the issuance of the  bonds, the ordinance shall be in effect, otherwise the ordinance shall  not go into effect.With respect to instruments for the payment of money issued under this  Section either before, on, or after the effective date of this amendatory  Act of 1989, 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. 86-4; 87-767.)