Illinois Code § 50 ILCS 20/16.1

The total amount of outstanding bonds issued by any Public
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Building Commission of any municipality or county with a population of less
than 1,000,000 inhabitants shall not exceed 5% of the total assessed value
of taxable property in the municipality or the county as the case may be,
except as authorized by a referendum held in the municipality or the county
as the case may be.

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