Illinois Statutes Chapter 65. Municipalities § 125/35. Resolution of intent to consider establishment of a business improvement district

§ 35. Resolution of intent to consider establishment of a business improvement district. After receiving a verified petition from the clerk, the governing body shall, within 90 days, adopt a resolution of intention to consider the establishment of a business improvement district. The resolution shall state the time and place of a public hearing to be held by the governing body to consider establishment of a business improvement district and shall restate all the information contained in the petition regarding the boundaries of the proposed business improvement district, the proposed activities and improvements, and estimated amount of annual funding required, the method of assessment, the governance structure, and the total amount of the proposed district charges anticipated for the initial term of the business improvement district.