The proposition as to the increase of the authorized aggregate principal indebtedness shall be in substantially the following form: -------------------------------------------------------------- Shall the authorized aggregate principal indebtedness of the.... YES Park District (naming it) be increased --------------------- to not more than.... per centum of the NO value 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.
70 ILCS 1205/6-3
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
P.A. 86-494.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.