Interesting blog posting concerning the Freeport Park District.
Once the Freeport Park District approves these bonds they can then levy a special tax, without rate or limit, against the district's property tax payers. In 2005 (the last year Tutty has official records of) the "Bond and Interest" portion of the Park District's property tax levy amounted to almost forty-cents per hundred dollars of assessed value on property tax bills and represents nearly half of the Park District's property tax levy.
For the record, in 2005(the last year Tutty has official records of) the Freeport Park District levied just 4% less than the City of Freeport. And the City of Freeport must pay all the cops, firemen and street department crews with their property tax levy. Clearly, the Freeport Park District is collecting far too much money in these hard times, hard times for everyone but them.
Click on the following for information: The Stephenson Blumdoggle: The Beautiful Freeport Parks are Even Prettier if You're a Lawyer or Banker
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