65 ILCS 5/11-113.1-1
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 11 - Corporate Powers and Functions

 (from Ch. 24, par. 11-113.1-1)Sec. 11-113.1-1.         A non-home rule municipality located at least partly in a  county which is preparing a stormwater management plan in accordance with  Section 5-1062 of the Counties Code  may levy a tax upon all taxable property  within its corporate limits, at a rate not to exceed 0.06% if the municipality  owns and operates a wastewater treatment plant, and at a rate not to exceed  0.03% if it does not, of the value, as equalized or assessed by the Department  of Revenue, of all taxable property within the municipality, for the purposes  of implementing the stormwater management plan, improving storm sewer and  combined sewer facilities, protecting sanitary sewage treatment works from the  100-year frequency flood, and acquiring lands, buildings and properties in the  100-year floodplain, paying the principal of and interest on any bonds issued  pursuant to this Section for any of the foregoing purposes, and paying the  principal of, premium, if any, and interest on, and any fees relating to, any  loan made to such municipality by the Illinois  Finance Authority,  pursuant to the Illinois Finance  Authority Act for any of the foregoing purposes, or any bond, note or other  evidence of indebtedness of such municipality issued in connection with any  such loan. Such tax shall be in addition to all other taxes authorized by law  to be levied and collected in such municipality and shall be in addition to the  maximum tax rate authorized by law for general municipal purposes.  The  limitations on tax rate provided in this Section may be increased or decreased  by referendum in accordance with the provisions of Sections 18-120, 18-125,  and 18-130 of the Property Tax Code.However, unless the municipality is located at least partly in a  township declared after July 1, 1986 by presidential declaration to be a  disaster area as a result of flooding, the tax authorized by this Section  shall not be levied until the question of its adoption, either for a specified  period or indefinitely, has been submitted to the electors thereof and approved  by a majority of those voting on the question.  This question may be submitted  at any election held in the municipality after the adoption of a resolution by  the governing body of the municipality providing for the submission of the  question to the electors of the municipality.  The governing body of the  municipality shall certify the resolution and proposition to the proper  election officials, who shall submit the proposition at an election in  accordance with the general election law.  If a majority of the votes cast on  the question is in favor of the levy of such tax, it may thereafter be levied  in such municipality for the specified period or indefinitely, as provided in  the proposition. The question shall be put in substantially the following form:    --------------------------------------------------------------Shall an annual tax be leviedfor stormwater management purposes            YES(for a period of not more than...... years) at a rate not exceeding      -------------------.....% of the equalized assessedvalue of the taxable property of              NO(municipality)?--------------------------------------------------------------Any municipality in a county which has established a stormwater  management planning committee in accordance with Section 5-1062 of the  Counties Code  is hereby authorized to borrow money and to issue  its bonds for the purposes of implementing the stormwater management  plan, improving storm sewer and combined sewer facilities, protecting  sanitary sewage treatment works from the 100-year frequency flood, and  acquiring lands, buildings and properties in the 100-year floodplain.Any municipality in a county which has established a stormwater  management planning committee in accordance with Section 5-1062 of the  Counties Code  is hereby further authorized to borrow money from the Illinois Finance Authority for the purpose of financing the  protection  of storm sewer outfalls, the construction of adequate storm sewer outfalls  and the provision for flood protection of sanitary sewage treatment plants,  pursuant to the Illinois Finance  Authority Act, and is hereby authorized to enter into loan agreements and other  documents with the Illinois Finance Authority and to  issue its  bonds, notes or other evidences of indebtedness to evidence  its obligation to repay such loan to the Illinois  Finance  Authority.  Without the submission of the question to the electors,  notwithstanding any other provision of law to the contrary, such  municipality is hereby authorized to execute such loan agreements and other  documents and to issue such bonds, notes or other evidences of  indebtedness, which loan agreements, documents, bonds, notes or other  evidences of indebtedness may bear such date or dates, may bear interest at  such rate or rates, payable at such time or times, may mature at any time  or times not later than 40 years from the date of issuance, may be payable  at such place or places, may be payable from any funds of such municipality  on hand and lawfully available therefor, including without limitation the  taxes levied pursuant to this Section or from any other taxes or revenues  of such municipality pledged to their payment, may be negotiated at such  price or prices, may be executed in such manner, may be subject to  redemption prior to maturity, may be in such form, may be secured, and may  be subject to such other terms and conditions, all as may be provided in a  resolution or ordinance authorizing the execution of any such loan  agreement or other document or the issuance of such bonds, notes or other  evidences of indebtedness.    (Source: P.A. 93-205, eff. 1-1-04.)