Chapter 65 — MUNICIPALITIES

(65 ILCS 5/8-3-19) Sec. 8-3-19. Home rule real estate transfer taxes. (a) After the effective date of this amendatory Act of the 93rd General Assembly and subject to this Section, a home rule municipality may impose or increase a tax or other fee on the privilege of transferring …

(65 ILCS 5/8-3-2) (from Ch. 24, par. 8-3-2) Sec. 8-3-2. The taxes levied under Section 8-3-1 shall be collected and enforced in the same manner and by the same officers as state and county taxes, and shall be paid over by the officers collecting the tax to the municipal treasurer…

(65 ILCS 5/8-3-3) (from Ch. 24, par. 8-3-3) Sec. 8-3-3. The officer collecting the taxes levied under Section 8-3-1 shall settle with and pay over to the municipal treasurer, or, in the case of a tax levied for library purposes in municipalities having not to exceed 50,000 inhabi…

(65 ILCS 5/8-3-4) (from Ch. 24, par. 8-3-4) Sec. 8-3-4. Whenever a municipality is required to levy a tax for the payment of a particular debt, appropriation, or liability of the municipality, the tax for that purpose shall be included in the total amount levied by the corporate …

(65 ILCS 5/8-3-5) (from Ch. 24, par. 8-3-5) Sec. 8-3-5. All taxes levied by a municipality, except special assessments for local improvements, shall be uniform upon all taxable property and persons within the limits of the municipality, and no property shall be exempt therefrom o…

(65 ILCS 5/8-3-6) (from Ch. 24, par. 8-3-6) Sec. 8-3-6. Every municipality incorporated under a special act shall levy and collect its taxes in the manner provided for in this Division 3 and in the manner provided for in the General Revenue Law of this state, even though its spec…

(65 ILCS 5/8-3-7) (from Ch. 24, par. 8-3-7) Sec. 8-3-7. Every municipality incorporated under a special act has the power to levy and collect annually its taxes for general purposes, exclusive of the amounts levied (1) for the payment of bonded indebtedness, or interest thereon, …

(65 ILCS 5/8-3-7a) (from Ch. 24, par. 8-3-7a) Sec. 8-3-7a. (a) Whenever a petition containing the signatures of at least 1,000 or 10% of the registered voters, whichever is less, residing in a municipality of 500,000 or fewer inhabitants is presented to the corporate authorities …

(65 ILCS 5/8-3-8) (from Ch. 24, par. 8-3-8) Sec. 8-3-8. Whenever any property listed or assessed for municipal taxation is destroyed by fire, in whole or in part, before the levy thereon of municipal taxes, or before the municipal taxes levied thereon have been collected, the may…

(65 ILCS 5/8-3-9) (from Ch. 24, par. 8-3-9) Sec. 8-3-9. Whenever (1) a large portion of the taxable property of a municipality is destroyed by fire so as to seriously impair or affect the ability of the owners thereof to pay taxes or special assessments thereon, and (2) an approp…

(65 ILCS 5/8-4-1) (from Ch. 24, par. 8-4-1) Sec. 8-4-1. No bonds shall be issued by the corporate authorities of any municipality until the question of authorizing such bonds has been submitted to the electors of that municipality provided that notice of the bond referendum, if h…

(65 ILCS 5/8-4-10) (from Ch. 24, par. 8-4-10) Sec. 8-4-10. Sections 8-4-3 through 8-4-10 apply to all municipalities, whether incorporated under a general or a special act, and shall constitute complete authority for issuing refunding bonds without reference to other laws, and sh…

(65 ILCS 5/8-4-11) (from Ch. 24, par. 8-4-11) Sec. 8-4-11. In every municipality there shall be a sinking fund commission, composed of the mayor or president, as the case may be, the chairman of the finance committee, and the comptroller, or if there is no comptroller, the munici…

(65 ILCS 5/8-4-12) (from Ch. 24, par. 8-4-12) Sec. 8-4-12. Whenever there is a sum in the municipality's sinking fund in excess of the amount required for the payment of the municipality's bonded indebtedness maturing in that, or the succeeding, fiscal year, and the interest due …

(65 ILCS 5/8-4-13) (from Ch. 24, par. 8-4-13) Sec. 8-4-13. Every municipality incorporated by and operating under a special charter may borrow money upon the credit of the municipality for lawful corporate purposes, including the funding and refunding of any judgment indebtedness…

(65 ILCS 5/8-4-14) (from Ch. 24, par. 8-4-14) Sec. 8-4-14. Without submitting the question to the legal voters thereof for approval the corporate authorities of any municipality having a population of less than 500,000 may by ordinance authorize the issue of refunding revenue bon…

(65 ILCS 5/8-4-15) (from Ch. 24, par. 8-4-15) Sec. 8-4-15. The ordinance authorizing such refunding revenue bonds shall prescribe all the details thereof and the bonds shall be in such form and denomination, payable at such places, bear such date and be executed by such officials…

(65 ILCS 5/8-4-16) (from Ch. 24, par. 8-4-16) Sec. 8-4-16. If any revenue securities which are refunded are secured by an indenture of mortgage or deed of trust, such indenture of mortgage or deed of trust shall be properly released of record. (Source: Laws 1961, p. 576.)

(65 ILCS 5/8-4-17) (from Ch. 24, par. 8-4-17) Sec. 8-4-17. Whenever refunding revenue bonds are issued under this Division 4, sufficient revenues received from the operation of the municipally-owned utility or facility shall be set aside as collected and be deposited in a separat…

(65 ILCS 5/8-4-18) (from Ch. 24, par. 8-4-18) Sec. 8-4-18. Rates charged for service and the use of the utility or facility shall be sufficient at all times to pay the cost of operation and maintenance, provide an adequate depreciation fund and pay the principal of and interest u…

(65 ILCS 5/8-4-19) (from Ch. 24, par. 8-4-19) Sec. 8-4-19. Any holder of a bond or bonds, or of any of the coupons of any bond or bonds of a municipality issued under Sections 8-4-14 through 8-4-23, may in any civil action, mandamus, injunction or other proceeding, enforce and co…

(65 ILCS 5/8-4-2) (from Ch. 24, par. 8-4-2) Sec. 8-4-2. Such question shall be in substantially the following form: -------------------------------------------------------------- Shall bonds in the amount of $....... be issued by the city (or YES village or incorporated town as t…

(65 ILCS 5/8-4-20) (from Ch. 24, par. 8-4-20) Sec. 8-4-20. After the ordinance providing for the issuance of the refunding revenue bonds has been passed, it shall be published at least once within 10 days after its passage in one or more newspapers published in the municipality, …

(65 ILCS 5/8-4-21) (from Ch. 24, par. 8-4-21) Sec. 8-4-21. Such refunding revenue bonds may be exchanged on a basis of par for the securities to be refunded, or such bonds may be sold at not less than their par value and accrued interest and the proceeds received shall be used to…

(65 ILCS 5/8-4-22) (from Ch. 24, par. 8-4-22) Sec. 8-4-22. The corporate authorities of any such municipality are authorized to take any action that may be necessary to inform owners of outstanding securities regarding the financial condition of the fund out of which the securiti…

(65 ILCS 5/8-4-23) (from Ch. 24, par. 8-4-23) Sec. 8-4-23. Sections 8-4-14 through 8-4-23 constitute complete authority for the issue of refunding revenue bonds as herein provided without reference to any other laws or provisions of this Code and shall be construed as conferring …

(65 ILCS 5/8-4-24) (from Ch. 24, par. 8-4-24) Sec. 8-4-24. Whenever bonds have been issued by any municipality for the purpose of constructing an incinerator, and the corporate authorities decide that such project is not feasible and substitute a different method of refuse dispos…

(65 ILCS 5/8-4-25) (from Ch. 24, par. 8-4-25) Sec. 8-4-25. Subject to the requirements of the Bond Issue Notification Act, any municipality is authorized to issue from time to time full faith and credit general obligation notes in an amount not to exceed 85% of the specific taxes…

(65 ILCS 5/8-4-26) (from Ch. 24, par. 8-4-26) Sec. 8-4-26. Subject to the requirements of the Bond Issue Notification Act, the corporate authorities of any municipality having a board of election commissioners may issue bonds, in such amounts as may be required for the purpose of…

(65 ILCS 5/8-4-27) Sec. 8-4-27. (Repealed). (Source: P.A. 103-316, eff. 7-28-23. Repealed internally, eff. 1-1-25.)

(65 ILCS 5/8-4-3) (from Ch. 24, par. 8-4-3) Sec. 8-4-3. The corporate authorities of any municipality, without submitting the question to the electors thereof for approval, may authorize by ordinance the issuance of refunding bonds (1) to refund its bonds prior to their maturity;…

(65 ILCS 5/8-4-4) (from Ch. 24, par. 8-4-4) Sec. 8-4-4. The ordinance authorizing the refunding bonds shall prescribe all details thereof and shall provide for the levy and collection of a direct annual tax upon all the taxable property within the municipality sufficient to pay t…

(65 ILCS 5/8-4-5) (from Ch. 24, par. 8-4-5) Sec. 8-4-5. The refunding bonds may be exchanged for the bonds to be refunded on the basis of dollar for dollar for the par value of the bonds, interest coupons, and interest not represented by coupons, if any. Instead of this exchange,…

(65 ILCS 5/8-4-6) (from Ch. 24, par. 8-4-6) Sec. 8-4-6. The refunding bonds shall be of such form and denomination, payable at such place, bear such date, and be executed by such officials as may be provided by the corporate authorities of the municipality in the bond ordinance. …

(65 ILCS 5/8-4-7) (from Ch. 24, par. 8-4-7) Sec. 8-4-7. Whenever any refunding bonds are purchased or redeemed and cancelled, as provided in Section 8-4-6, the taxes thereafter to be extended for payment of the principal of and the interest on the remainder of the issue shall be …

(65 ILCS 5/8-4-8) (from Ch. 24, par. 8-4-8) Sec. 8-4-8. Money which becomes available from taxes that were levied for prior years for payment of bonds or interest coupons that were paid or refunded before these taxes were collected, after payment of all warrants that may have bee…

(65 ILCS 5/8-4-9) (from Ch. 24, par. 8-4-9) Sec. 8-4-9. The corporate authorities of a municipality may take any action that may be necessary to inform the owners of unpaid bonds regarding the financial condition of the municipality, the necessity of refunding its unpaid bonds an…

(65 ILCS 5/8-4.1-1) (from Ch. 24, par. 8-4.1-1) Sec. 8-4.1-1. This Division shall be known and may be cited as the "Municipal Bond Reform Act." (Source: P.A. 85-158.)

(65 ILCS 5/8-4.1-10) (from Ch. 24, par. 8-4.1-10) Sec. 8-4.1-10. In addition to the authority otherwise available to invest funds, corporate authorities may authorize and upon such authorization the Treasurer of any municipality may invest proceeds of Bonds or money on deposit in…

(65 ILCS 5/8-4.1-11) (from Ch. 24, par. 8-4.1-11) Sec. 8-4.1-11. A municipality may pledge, as security for the payment of its Bonds, (a) revenues derived from the operation of any utility system or revenue producing enterprise; (b) moneys deposited or to be deposited in any spec…

(65 ILCS 5/8-4.1-12) (from Ch. 24, par. 8-4.1-12) Sec. 8-4.1-12. Bonds which are issued in part pursuant to this Act may contain a recital to that effect and any such recital shall be conclusive as against the municipality and the corporate authorities thereof and any other perso…

(65 ILCS 5/8-4.1-2) (from Ch. 24, par. 8-4.1-2) Sec. 8-4.1-2. In addition to other words and terms as defined in this Code, the following words or terms shall as used in this Division have the meanings set forth opposite each unless the context or usage clearly indicates that ano…

(65 ILCS 5/8-4.1-3) (from Ch. 24, par. 8-4.1-3) Sec. 8-4.1-3. The provisions of this Act are intended to be supplemental and in addition to all other power or authority granted to municipalities, shall be construed liberally and shall not be construed as a limitation of any power…

(65 ILCS 5/8-4.1-4) (from Ch. 24, par. 8-4.1-4) Sec. 8-4.1-4. Whenever Applicable Law provides that the authorization or the issuance of Bonds, or the becoming effective of an ordinance or resolution providing for the authorization or issuance of Bonds, may be subject to a backdo…

(65 ILCS 5/8-4.1-5) (from Ch. 24, par. 8-4.1-5) Sec. 8-4.1-5. The corporate authorities may provide for a reserve fund solely for the payment of the principal of and interest on Bonds. Bond proceeds may be used to provide such reserve fund. (Source: P.A. 85-158.)

(65 ILCS 5/8-4.1-6) (from Ch. 24, par. 8-4.1-6) Sec. 8-4.1-6. The corporate authorities are authorized and may covenant and contract with the holders of Revenue Bonds to levy, charge and collect moneys pledged as security for the payment of Revenue Bonds in amounts sufficient to …

(65 ILCS 5/8-4.1-7) (from Ch. 24, par. 8-4.1-7) Sec. 8-4.1-7. The proceeds of Bonds may be used to provide for the payment of interest upon such Bonds for a period not to exceed the greater of 2 years or a period ending 6 months after the estimated date of completion of the acqui…

(65 ILCS 5/8-4.1-8) (from Ch. 24, par. 8-4.1-8) Sec. 8-4.1-8. Bonds authorized by Applicable Law may be issued in one or more series, bear such date or dates, become due at such time or times within the period of years provided by Applicable Law, bear interest payable at such int…

(65 ILCS 5/8-4.1-9) (from Ch. 24, par. 8-4.1-9) Sec. 8-4.1-9. Any redemption premium payable upon the redemption of Bonds may be payable from the proceeds of refunding Bonds which may be issued under Applicable Law for the purpose of refunding such Bonds, from any other lawfully …

(65 ILCS 5/8-5-1) (from Ch. 24, par. 8-5-1) Sec. 8-5-1. Except as hereinafter provided in this Division 5, no municipality having a population of less than 500,000 shall become indebted in any manner or for any purpose, to an amount, including existing indebtedness in the aggrega…