2023 Illinois Compiled Statutes › Chapter 70 - SPECIAL DISTRICTS › 70 ILCS 1275/ - Living War Memorial Act.

(70 ILCS 1275/0.01) (from Ch. 105, par. 255.26h)
Sec. 0.01. 
		Short title. 
		This Act may be cited as the
Living War Memorial Act.
(Source: P.A. 86-1324.)
(70 ILCS 1275/1) (from Ch. 105, par. 255.27)
Sec. 1. 
		
		Whenever any park district having a population of less than 500,000
has property or funds granted or donated to it by grant, gift, or
legacy for the purpose of establishing playgrounds or athletic fields as
Living War Memorials, the park district may, in accordance with the
provisions of this Act, issue bonds in an amount equal to such grant,
gift, or legacy for the purpose of completing the establishment of
playgrounds or athletic fields, including grandstands or other seating
facilities, as Living War Memorials.
(Source: P.A. 83-388.)
(70 ILCS 1275/2) (from Ch. 105, par. 255.28)
Sec. 2. 
		
		If the entire amount of the bonds to be issued does not exceed the
sum of $5,000 or does not exceed .066 per cent of the value of all
taxable property in the district as equalized or assessed by the
Department of Revenue, the issuance of the bonds may be
authorized by resolution of the board of the park district at any
regular meeting or at a special meeting called for that purpose, without
submitting the proposition to a vote of the electors of the district.
(Source: P.A. 81-1509.)
(70 ILCS 1275/3) (from Ch. 105, par. 255.29)
Sec. 3. 
		
		If the entire amount of the bonds to be issued exceeds the sum of
$5,000 or exceeds .066 per cent of the value of all taxable property in
the district as equalized or assessed by the Department of Revenue, then
the question of issuing such bonds shall be
submitted to a referendum of the legal voters of the park district in
the manner provided in this Act.
(Source: P.A. 81-1509.)
(70 ILCS 1275/4) (from Ch. 105, par. 255.30)
Sec. 4. 
		
		Whenever there is filed in the office of the circuit clerk of
the county in which the park district or the major portion thereof is
located, a resolution of the board of the district or a petition signed
by at least 50 legal voters of the district, asking that a referendum be
held to authorize the issuance of such bonds for the purpose of
establishing playgrounds or athletic fields, with grandstands or other
seating facilities, as Living War Memorials, the circuit court, if it
determines the petition to be in conformity with law, shall
certify the question to the proper election officials, who shall submit
to the legally qualified voters of such district the question of
issuing bonds for such purpose, to the amount named in the resolution or
petition, at a regular election in accordance with the general election
law.
(Source: P.A. 81-1489.)
(70 ILCS 1275/5) (from Ch. 105, par. 255.31)
Sec. 5. 
		
		The circuit court shall designate the election at which the
question shall be submitted, and the circuit clerk shall give notice
of the referendum as required by the general election law. The notice
shall state the amount of bonds proposed to be
issued.
(Source: P.A. 81-1489.)
(70 ILCS 1275/7) (from Ch. 105, par. 255.33)
Sec. 7. 
		
		The proposition shall be in
substantially the following form:
--------------------------------------------------------------
Shall the.... Park District
issue bonds in the amount of          YES
$......... for the purpose of
establishing playgrounds or       ---------------------------
athletic fields, together with
grandstands or other seating          NO
facilities, as Living War
Memorials?
--------------------------------------------------------------
(Source: P.A. 81-1489.)
(70 ILCS 1275/8) (from Ch. 105, par. 255.34)
Sec. 8. 
		
		If a majority of the votes cast upon the proposition so submitted
are in favor of the issuance of the bonds, it shall be the duty of the
board to issue the bonds of the district not exceeding the amount voted
upon at the election.
(Source: Laws 1947, p. 1255.)
(70 ILCS 1275/9) (from Ch. 105, par. 255.35)
Sec. 9. 
		
		All bonds issued under authority of this Act shall be payable
over a period of not less than five nor more than twenty years from the
date of issue and shall bear interest at a rate not to exceed six per cent
per annum, payable semiannually. The proceeds of the bonds shall be used
only for the purpose of constructing or completing playgrounds or athletic
fields, and grandstands or seating facilities therefor, as Living War
Memorials.
(Source: Laws 1947, p. 1255.)
(70 ILCS 1275/10) (from Ch. 105, par. 255.36)
Sec. 10. 
		
		The board of any park district issuing bonds hereunder may
levy and collect a direct annual tax upon the property within the
district sufficient to pay the principal of and interest upon the bonds
as they mature. The county clerk of the county in which the district is
located shall annually extend taxes against all the taxable property in
the district sufficient to pay the principal of and interest upon such
bonds as they mature. The rate at which such taxes shall be extended
shall be in addition to the maximum rate now or hereafter authorized to
be levied and extended for general corporate purposes.
(Source: Laws 1947, p. 1255.)