65 ILCS 5/11-23-6
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 11 - Corporate Powers and Functions

 (from Ch. 24, par. 11-23-6)Sec. 11-23-6.         The corporate authorities of a city specified in this  Division 23 may provide that bonds of the city be issued for the purpose  of (1) constructing and equipping a hospital building or buildings, (2)  purchasing and maintaining an existing nonsectarian public hospital  within the city's corporate limits, or of (3) reconstructing, repairing,  remodeling, and improving, or of (4) extending and equipping, an  existing hospital building or buildings now owned and operated by the  city. These bonds shall be authorized by an ordinance and shall mature  at such time, not to exceed 20 years from their date of issue, and bear  such rate of interest, not to 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, as the corporate authorities may determine.The ordinance providing for the issuance of these bonds shall be  submitted to the electors of the city at an election conducted in accordance  with the general election law. The proposition shall be certified by the  municipal clerk and submitted by the proper election authority. If a majority  of the votes cast on this proposition are favorable, the bonds shall be  issued for the purpose and in the amount specified in the ordinance. Prior  to July 1, 1944, however, in the event that aid is to be received from any  agency of the Federal Government in the construction of the project for  which these bonds are to be issued and a declaration of that fact is set  forth in the ordinance providing for the issuance of the bonds, the  ordinance shall become effective immediately upon passage, without  submission to the electors and notwithstanding any provision in this Code  or in any other law to the contrary. The declaration of the corporate  authorities that the project is to be paid for either in whole or in part  by a grant from a Federal agency, as set forth in the ordinance, is  conclusive. These bonds shall be signed by the president and secretary of  the hospital board and by the mayor and city clerk, or commissioner of  accounts and finance of the city, and shall be payable out of the taxes to  be collected for hospital purposes in that city.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.)