Shall the City of Gillespie be included within provisions of Article 7 of the Illinois Pension Code, as amended, pertaining to the creation of the "Illinois Municipal Retirement Fund" for the benefit of full-time employees of the City of Gillespie and shall the City of Gillespie be authorized to levy a new tax for Illinois Municipal Retirement Fund (IMRF) benefits for full-time employees of the City of Gillespie and have an additional tax of 0.35% of the equalized assessed value of the taxable property therein extended for such purposes?

(1) The approximate amount of taxes extendable at the most recent extended limiting rate is $232,943 and the approximate amount of taxes extendable if the proposition is approved is $332,524.

(2) For the 2023 levy year the approximate amount of the additional tax extendable against property contained a single-family residence and having a fair market value at the time of the referendum of $100,000 is estimated to be $350.