2005 Illinois Code - Chapter 75 Libraries 75 ILCS 35/ Township Library Bond Act.
(75 ILCS 35/0.01) (from Ch. 81, par. 45.9)
Sec. 0.01.
Short title.
This Act may be cited as the
Township Library Bond Act.
(Source: P.A. 86‑1324.)
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(75 ILCS 35/1) (from Ch. 81, par. 46)
Sec. 1.
That for the purpose of
erecting, repairing or improving library buildings or purchasing sites
for library buildings, the directors of any township library, organized
under the laws of this state, when thereunto authorized by majority of
all the votes cast on the proposition at an election, may borrow
money, and may issue bonds therefor, in the sums of not less than one
hundred dollars ($100) bearing interest at a rate not exceeding six per
centum per annum and for a term not to exceed twenty years: Provided,
that the sum borrowed in any one year shall not exceed five per centum
(including existing indebtedness) of the taxable property of the
township, to be ascertained by the last assessment for state and county
taxes previous to the incurring of such indebtedness. The proposition
shall be submitted to the voters in accordance with the general election
law upon the adoption of a resolution so requesting by the directors and
certified to the proper election officials.
(Source: P.A. 81‑1489.)
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(75 ILCS 35/2) (from Ch. 81, par. 47)
Sec. 2.
All bonds authorized to be issued by virtue of the foregoing
section before being so issued, negotiated and sold shall be signed by the
president and secretary of such board of directors, and shall be
registered, numbered and countersigned by the supervisor of the township
wherein such library is located. Such registry shall be made in a book to
be kept for that purpose; and in such register shall be first entered the
record of the election authorizing the directors to borrow money, and then
a description of the bonds issued by virtue of such authority as to number,
date, to whom issued, amount, rate of interest and when due.
(Source: Laws 1905, p. 313.)
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(75 ILCS 35/3) (from Ch. 81, par. 48)
Sec. 3.
All moneys borrowed under the authority granted by this act shall
be paid to the supervisor of the township wherein the bonds issued therefor
are required to be registered, and upon receiving such moneys, the
supervisor shall deliver the bond or bonds issued therefor, to the parties
entitled to receive the same; and shall credit the sums received to the
library fund of township issuing the bonds. The said supervisor of said
township shall enter in the said bond register the exact amount received
for each and every bond issued. And when any such bonds are paid, the
supervisor shall cancel the same and shall enter in the said bond register
against the record of such bonds, the words "Paid and canceled the .... day
of ...., A. D. ....," filling the blanks with the day, month and year
corresponding with the date of such payment.
(Source: Laws 1905, p. 313.)
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(75 ILCS 35/4) (from Ch. 81, par. 49)
Sec. 4.
The proposition shall be in substantially the following form:
"For" or "Against" the proposition to issue the
bonds of ....... township to the amount of $.... due (here
insert the times of payment, giving the amount falling due in each year,
if the bonds mature at different dates), which bonds are to bear interest
at the rate of .... % per annum, payable .... annually.
(Source: P.A. 84‑551.)
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(75 ILCS 35/7) (from Ch. 81, par. 52)
Sec. 7.
In all cases where any board of directors of any township
library have issued or may hereafter issue bonds, or other evidence of
indebtedness for money on account of any public library building, or for
the improvement thereof, which remain outstanding and which are properly
authorized by law, such board of directors may, upon the surrender of
any such bonds or other evidence of indebtedness, or any number thereof,
issue in place or in lieu thereof, or to take up the same to the holders
or owners of the same, or to other persons for money with which to take
up the same, new bonds or other evidences of the indebtedness in such
form, of such amount, upon such time, not exceeding the term of twenty
years, and drawing such rate of interest, not exceeding six per centum
per annum, as may be determined upon, and such new bonds or other
evidences of indebtedness so issued shall show that they are issued
under this act. Provided, that the issue of such new bonds in lieu of
such indebtedness must be authorized by the legal voters of such
township voting at a referendum initiated as
provided for in Section 1 of this act and conducted in accordance
with the general election law: and, Provided, further, that such
bonds or other evidence of indebtedness shall not be issued so as to
increase the aggregate indebtedness of such township beyond five per
centum of the value of the taxable property therein, to be ascertained
by the last assessment for state and county taxes, prior to the issuing
of such bonds or other evidences of indebtedness.
(Source: P.A. 81‑1489.)
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(75 ILCS 35/8) (from Ch. 81, par. 53)
Sec. 8.
The board of directors of the public library of any township,
which has issued bonds pursuant to the provisions of this Act, shall, on
or before the first Tuesday in August, of each year, ascertain as near as
practicable, the amount of money which must be raised by special taxation
for the ensuing year, for the purpose of paying the interest upon such
bonds and the principal thereof, as they respectively become due; and
shall cause the same to be certified, under the signatures of the president and
secretary of such board of directors, and filed in the office of the county
clerk of the county in which the library is situated, on or before the second
Monday in August of each year; which certificate may be substantially in
the following form:
We certify that the Board of Directors of the .... Public Library
has determined that it will require the sum of
$......, to
be levied as a special tax upon the taxable property of .... Township, for
the year (insert year), for the purpose of paying the bonds of
the Township and the interest thereon.
Dated (insert date).
Board of Directors of .... Public Library.
Signature of .... President.
Signature of .... Secretary.
(Source: P.A. 91‑357, eff. 7‑29‑99.)
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(75 ILCS 35/9) (from Ch. 81, par. 54)
Sec. 9.
It shall be the duty of the county clerk when making out the
tax books for the collector to compute each taxable person's taxes in
such township upon the total amount of taxable property as equalized by
the State Board of Equalization for that year, whether belonging to
residents or non‑residents, and also each and every tract of land
assessed by the assessor, which lies in such township. Such computation
shall be made so as to realize the amount of money required to be raised
in such township, as shown and set forth in the certificate of tax levy,
made out by the board of directors of such public library and filed with
the said county clerk as required by the provisions of this act. The
said county clerk shall cause each person's tax so computed to be set
upon the tax books to be delivered to the collector for that year in a
separate column, against each taxpayer's name, or parcel of taxable
property, as it appears in said collector's books, to be collected in
the same manner and at the same time and by the same persons as state
and county taxes are collected. The computation of each person's tax and
the levy made by the clerk, as aforesaid, shall be final and conclusive:
Provided, that the rate shall be uniform and shall not exceed that
required by the amount certified by the board of directors as aforesaid,
together with the estimated cost of extending and collecting the same.
(Source: Laws 1905, p. 313.)
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