50 ILCS 450/4

Current through Public Act 103-1052

Section 50 ILCS 450/4 - County having less than 200,000 inhabitants

The corporate authority of any county having less than 200,000 inhabitants or of any municipality may by resolution:

(1) provide for the acquisition, construction and equipping of a medical service facility within the county or municipality, as the case may be, to be leased to one or more doctors;

(2) provide for the incurrence of an indebtedness for that purpose;

(3) provide for the issuance of general obligation bonds as security for that debt; and

(4) levy a tax, in addition to all other taxes, for the purpose of amortizing such bonds and specify a maximum rate at which such tax may be extended in relation to the value of all taxable property in the county or municipality, as the case may be, as equalized or assessed by the Department of Revenue.

However, no resolution providing for the issuance of bonds or the levy of taxes authorized by this Act shall be effective until it has been submitted to a referendum of the electors of the acting county or municipality in accordance with the general election law. The question in such referendum shall specify the maximum rate at which the proposed tax may be extended. If a majority of those voting upon the proposition at such referendum vote in favor of issuing such bonds and levying such taxes, then the resolution shall immediately become effective.

50 ILCS 450/4

P.A. 81-1489; 81-1509.