1-1-15: MANNER OF CORRECTING INACCURATE BILLS:

   A.   In an instance where a customer's bill for water, sewer, and refuse and recycling collection services provided by the Village has been incorrectly calculated and the customer has been overbilled or underbilled, the Village shall correct the charges for the erroneously billed period, not to exceed twenty four (24) months, during which incorrect bills were rendered.

   B.   When a customer has been underbilled for any of the services set forth in subsection 1-1-15A of this section, the Village may enter into a written deferred payment agreement with the customer whereby the amount due may be paid in equal installments within a period of twelve (12) months from the date of execution of the agreement. (Ord. 15-123, 7-6-2015)

1-1-16: SALE OF REAL PROPERTY OWNED BY THE VILLAGE:

   A.   The Village Manager is authorized to negotiate agreements to sell real property located outside of a tax increment financing district and any said agreement shall be subject to approval by resolution adopted by a majority vote of the Board of Trustees.

   B.   At the Village Manager's discretion, the Village may publish a notice in a newspaper of general circulation in the Village one time not less than thirty (30) days prior to the Board of Trustees approval to sell real property that the Village intends to sell real property pursuant to this section and that the Village shall receive bids for such sale. The terms and conditions upon which the Village shall consider bids for a sale shall be at the Village Manager's discretion. (Ord. 15-133, 8-3-2015)

ARTICLE 2 PROCEDURE FOR ISSUANCE OF GENERAL OBLIGATION BONDS

SECTION:

1-2-1: Definitions

1-2-2: Authority To Issue General Obligation Bonds

1-2-3: Procedures

1-2-4: Public Purpose Of Borrowing

1-2-5: Details Of Bond Ordinance; Contract For Sale; Interest Savings

1-2-6: Execution Of Bonds; Form

1-2-7: Levy Of Taxes; Ordinance Filed; Future Levy Abatement

1-2-8: Appropriation

1-2-9: Illinois Municipal Code Superseded

1-2-10: Issuance Of Notes And Other Incurrence Of Debt

1-2-1: DEFINITIONS:

The following words and phrases shall have the meanings, and are hereby defined, as follows:

BOND ORDINANCE: One or more ordinances authorizing a specific issue or issues of bonds adopted by the Board of Trustees of the Village in accordance with the policies and procedures set forth in this article.

BONDS: Any bonds issued pursuant to the authority of this article. (1981 Code; amd. Ord. 1986-0-100, 11-3-1986)

1-2-2: AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS:

Section 6(a) of article VII of the 1970 constitution of Illinois provides that "any municipality which has a population of more than 25,000 (is) a home rule unit". The Village of Oak Park, with a current population in excess of twenty five thousand (25,000) is, therefore, a home rule unit and may, under the power granted by section 6(a) of article VII "exercise any power and perform any function pertaining to its government and affairs, including but not limited to, the power to . . . incur debt".

Section 6(d) of article VII of the 1970 constitution grants constitutional authority for the Village of Oak Park to incur debt payable from ad valorem property tax receipts maturing within forty (40) years from the time it is incurred.

Section 6(k) of article VII of the 1970 constitution of Illinois grants authority for the Village of Oak Park to incur debt payable from ad valorem tax receipts without prior referendum approval. (1981 Code)