City of Glencoe local sales tax imposition authorization

This bill authorizes the City of Glencoe to impose a local sales and use tax of up to 0.5% if approved by voters in a special election. The tax revenue would be used to fund specific park improvements and trail network upgrades, including projects at Oak Leaf Park, Lincoln Park, Glenn Knoll Park, Railroad Depot Park, and the city trail system. The legislation also allows the city to issue up to $2.725 million in bonds to help finance these projects, with the tax revenue serving as a source of repayment. The tax would expire after 15 years or once the city determines sufficient funds have been collected to cover all project costs and bond-related expenses.