[Adopted 2-19-1963 by Ord. No. 594]
The City of Crystal Lake be and is hereby authorized
to levy a tax to be known as the "public benefit tax."
The public benefit tax shall be in addition
to the amounts authorized to be levied for general purposes and shall
not exceed 0.05% of the full, fair cash value as equalized or assessed
on all taxable property in the City of Crystal Lake.
A fund known as the "Public Benefit Fund" is
hereby created, and the proceeds from the public benefit tax shall
be deposited solely in the Public Benefit Fund and used solely for
the purpose of paying that portion of amounts heretofore or to be
assessed against the City of Crystal Lake for public benefit as well
as for paying any such amounts as may hereafter be assessed for public
benefit under and in pursuance of any ordinance that may be hereafter
passed.
The corporate authorities of the City of Crystal
Lake be and are hereby authorized to appropriate and levy for the
public benefit tax.
