Illinois Compiled Statutes 70 ILCS 200/155-35 – Elections; general obligation bonds; form of ballot. No bonds other …
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Elections; general obligation bonds; form of ballot. No bonds other than revenue bonds issued pursuant to Section 155-25 shall be issued by the Authority until a proposition to issue the same has been submitted to and approved by a majority of the voters of said metropolitan area voting upon the proposition at a general election in accordance with the general election law. The Authority may by resolution order such proposition submitted at a regular election in accordance with the general election law, whereupon the recording officer shall certify the resolution and the proposition to the proper election officials for submission. Any proposition to issue bonds as herein set forth shall be in substantially the following form:
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Shall general obligation
bonds of the Matteson
Metropolitan Civic Center YES
Authority to the amount of
…………………Dollars
($……..) be issued for —————————-
the purpose of ………….
and shall annual taxes be
authorized to be levied NO
on all taxable property
within the metropolitan area
to pay such bond?
————————————————————–
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Terms Used In Illinois Compiled Statutes 70 ILCS 200/155-35
- Authority: means the Matteson Metropolitan Civic Center Authority. See Illinois Compiled Statutes 70 ILCS 200/155-5
- Metropolitan area: means all that territory which lies within the corporate boundaries of the Village of Matteson. See Illinois Compiled Statutes 70 ILCS 200/155-5
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Shall general obligation
bonds of the Matteson
Metropolitan Civic Center YES
Authority to the amount of
…………………Dollars
($……..) be issued for —————————-
the purpose of ………….
and shall annual taxes be
authorized to be levied NO
on all taxable property
within the metropolitan area
to pay such bond?
————————————————————–