SB1464 98TH GENERAL ASSEMBLY

LRB098 09582 NHT 39728 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
SB1464

Introduced 2/6/2013, by Sen. David S. Luechtefeld

SYNOPSIS AS INTRODUCED:

105 ILCS 5/19-5

from Ch. 122, par. 19-5

Amends the School Code. Makes a technical change in a Section concerning bonds.

A BILL FOR

AN ACT concerning education.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The School Code is amended by changing Section 19-5 as follows:

(105 ILCS 5/19-5) (from Ch. 122, par. 19-5)

Sec. 19-5. Registration, numbering and countersigning. All bonds issued under this Act, except bonds issued by school districts having a population of more than 500,000 inhabitants, before being issued, negotiated and and sold, shall be registered, numbered and countersigned by the treasurer who receives the taxes of the district. The registration shall be made in a book in which shall be entered the record of the election authorizing the directors or the board of education to borrow money and a description of the bonds issued, including the number, date, to whom issued, amount, rate of interest and when due.

(Source: Laws 1961, p. 31.)