70 ILCS 1205/9.3-2
2021 Illinois Compiled Statutes|Chapter 70 - SPECIAL DISTRICTS|70 ILCS 1205/ - Park District Code.|Article 9.3 - Recreation Facilities

 (from Ch. 105, par. 9.3-2)Sec. 9.3-2.         Whenever any park district determines to acquire, construct,  extend or improve indoor or outdoor recreation facilities and to issue  bonds under Section 9.3-1 of this Article to pay the costs 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 opened for inspection by the public.This ordinance shall set out the estimated cost of the project,  determine the period of usefulness thereof, the interest rate, which  shall not exceed the maximum rate authorized by the Bond Authorization Act,  as amended at the time of the making of the contract, payable annually or  semi-annually, and all 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 indoor or outdoor recreational facility  for the purpose of paying maintenance and operation costs, providing an  adequate depreciation fund, and paying the principal and interest on the  bonds issued hereunder. The ordinance may also pledge the revenue derived  from the operation of an existing indoor or outdoor facility of the same  character, 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 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 30day period a petition is so  filed, signed by electors of the district equal to  10% or more of the registered voters of the district asking that  the question of acquiring and operating or constructing and operating  such an indoor and outdoor recreational facility 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  the question at an election held in the district. The board shall furnish  copies of such a petition form to all persons making a request therefor.The proposition shall be in substantially the  following form:    --------------------------------------------------------------Shall the.... Park District issuerevenue bonds for acquiring (or constructing,     YESextending or improving) an indoor or outdoor  ----------------recreational facility to include.... (specify     NOspecific facility or facilities)--------------------------------------------------------------    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 indoor or  outdoor recreational facility or facilities or extending or improving  such indoor or outdoor recreational facility or facilities 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.)