(70 ILCS 1205/6-3) (from Ch. 105, par. 6-3)
Sec. 6-3. The question as to the increase of the authorized aggregate principal indebtedness of a park district under Section 6-2 hereof shall be submitted to the voters of the district at the next regular election in accordance with the general election law. The proposition as to the increase of the authorized aggregate principal indebtedness shall be in substantially the following form: --------------------------------------------------------------
Shall
the
authorized
aggregateprincipal
indebtedness
of
the....
YESPark
District
(naming
it)
be
increased
---------------------to
not
more
than....
per
centum
of
the
NOvalue
of
the
taxable
property
therein?--------------------------------------------------------------
If a majority of the votes cast upon the proposition are in the affirmative, the increase of the authorized aggregate principal indebtedness shall be deemed approved.
(Source: P.A. 86-494.)
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Last modified: February 18, 2015