(A) Any time a tax increase of any kind is introduced at City Council, the City Clerk is to publish a notice at least 14 days prior to the adoption of any ordinance that creates the tax. The notice shall be published in accordance with division (D) of this section.
(1) The provisions of this section shall be imposed anytime the City Council is considering increasing sales taxes, utility taxes, or any other taxes not related to property taxes. If these taxes are introduced at Council level for a vote, the City Clerk is also directed to notify the residents of the date and time that the City Council will vote to adopt said tax increase.
(2) A two thirds vote of the Corporate Authority of the city shall be required before any such tax increase is either passed or imposed.
(B) A vote of two thirds of the Corporate Authority of the city will be required to pass any bond issue which will require the support of any property taxes.
(C) (1) If two thirds of the Corporate Authority of the city does not vote to pass a bond issue, then the City Council shall direct the City Clerk to have the question of the bond issue placed on the ballot in the form of a referendum question.
(2) The referendum question shall be drafted by the Finance Committee, and shall then be approved by the City Council. After said approval, the City Clerk shall submit the question to the Cook County Clerk for placement on the ballot for the next election.
(D) All notifications of bond issues, property tax increases, or any other tax increases, along with notices of public hearings and of referendums on said bond issues or tax increases, shall be published in the Regional Newspaper, the Star Newspaper, and the Southtown Newspaper.
(E) All notifications of bond issues and/or tax increases shall be prepared by the finance committee and then approved by the City Council, and said notices shall be mailed to the residents a minimum of 21 days before said Council meeting or election in which said tax increase or bond issue shall be voted on.
(Ord. O-29-95, passed 9-19-95; amend. Ord. O-9-01, passed 1-16-01; amend. Ord. O-50-01, passed 10-16-01)