Bill Text: IL SB3161 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Public Library District Act of 1991. Requires that only bonds and notes with an aggregate outstanding unpaid principal balance that exceeds 0.575% of the total assessed valuation of all taxable property in the library district must be approved by a majority of the voters of the district. Provides that a referendum is not required for bonds issued to refund any judgment indebtedness, including any unpaid public benefits and amounts assessed against any library district. Effective immediately.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [SB3161 Detail]

Download: Illinois-2011-SB3161-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB3161 Introduced 2/1/2012, by Sen. Edward D. Maloney SYNOPSIS AS INTRODUCED:
75 ILCS 16/40-15
Amends the Public Library District Act of 1991. Requires that only bonds and notes with an aggregate outstanding unpaid principal balance that exceeds 0.575% of the total assessed valuation of all taxable property in the library district must be approved by a majority of the voters of the district. Provides that a referendum is not required for bonds issued to refund any judgment indebtedness, including any unpaid public benefits and amounts assessed against any library district. Effective immediately.
LRB097 19657 KMW 64911 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
SB3161 LRB097 19657 KMW 64911 b
AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Public Library District Act of 1991 is
amended by changing Section 40-15 as follows:
(75 ILCS 16/40-15)
Sec. 40-15. Voter approval of bonds.
(a) Except as otherwise provided in this Section, bonds and
notes, the aggregate outstanding unpaid principal balance of
which exceeds 0.575% of the total assessed valuation of all
taxable property in the district, Bonds shall not be issued,
nor the special tax imposed, until the proposition to issue the
bonds has been submitted to and approved by a majority of the
voters of the district voting upon the proposition at a regular
election provided that notice of the bond referendum, if held
before July 1, 1999, has been given in accordance with the
provisions of Section 12-5 of the Election Code in effect at
the time of the bond referendum, at least 10 and not more than
45 days before the date of the election, notwithstanding the
time for publication otherwise imposed by Section 12-5. Notices
required in connection with the submission of public questions
on or after July 1, 1999 shall be as set forth in Section 12-5
of the Election Code. The board shall by ordinance designate

SB3161 - 2 - LRB097 19657 KMW 64911 b
the election at which the proposition is to be submitted and
the amount of the bonds and their purpose. The board shall
certify the proposition to the proper election authority, who
shall submit the proposition in accordance with the Election
Code, subject to the notice provisions set forth in this
Section.
(b) The proposition to issue bonds shall be in
substantially the following form:
Shall the bonds of (name of public library district),
(location), Illinois, in the amount of $(amount) be issued
for the purpose of (state one or more purposes authorized
in Section 40-5)?
(c) When so authorized, the bonds shall be issued in the
name of the district, signed by the president and secretary,
and countersigned by the treasurer, with the seal of the
district affixed.
(d) This Section shall not be construed to require a
referendum for bonds issued to refund any judgment
indebtedness, including any unpaid public benefits and amounts
assessed against any library district, whether due or not due
under Division 2 of Article 9 of the Illinois Municipal Code.
(Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99.)
Section 99. Effective date. This Act takes effect upon
becoming law.