IL HB4604

Amends the Illinois Municipal Code to require municipalities with populations under 2,000,000 to obtain voter approval before issuing bonds.

Bonds in these municipalities must be submitted to and approved by a majority of voters at a regular election before issuance.

Corporate authorities must adopt an ordinance designating the election, bond amount, and purpose, then certify the proposition to the election authority.

Notice of the bond referendum must be given pursuant to Section 12-5 of the Election Code.

The ballot proposition must follow a substantially prescribed form asking whether bonds in a specified amount should be issued for stated purposes.