70 ILCS 1205/9.2-2
2021 Illinois Compiled Statutes|Chapter 70 - SPECIAL DISTRICTS|70 ILCS 1205/ - Park District Code.|Article 9.2 - Powers (Continued) Tennis Courts, Etc. Or Zoos

 (from Ch. 105, par. 9.2-2)Sec. 9.2-2.         Whenever any park district determines to acquire or  construct or extend or improve indoor or outdoor tennis courts, handball,  racquetball, or squash courts, or zoos and facilities and to issue bonds  under Section 9.2-1 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 the 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 indoor or outdoor tennis courts,  handball, racquetball, or squash courts, or zoos and facilities 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 existing indoor or outdoor tennis courts, handball,  racquetball, or squash courts, or zoo 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 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 of the district, asking that  the question of acquiring and operating or constructing and operating  such indoor or outdoor tennis courts, handball, racquetball, or squash  courts, or zoo facilities, or extending or improving such indoor or  outdoor tennis courts, handball, racquetball, or squash courts, or zoo  facilities, 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 a regular election held in the district.The proposition shall be in the following  form:    --------------------------------------------------------------Shall the.... Park District issueRevenue Bonds for acquiring (or constructing,     YESor extending or improving) indoor or outdoor  ----------------tennis courts (handball, racquetball, or          NOsquash courts, or zoo) and 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 tennis courts, handball, racquetball, or squash courts, or zoo  facilities or extending or improving such indoor or outdoor tennis  courts, handball, racquetball, or squash courts, or zoo 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.)