(55 ILCS 5/5-1027) (from Ch. 34, par. 5-1027)
Sec. 5-1027.
Bonds for purchase of voting machines.
A county board
may issue bonds, in such amounts as may be required for the purpose of
acquiring voting machines or electronic voting systems as required by the
general election law and may levy a direct annual tax upon all
taxable property in the county for the purpose of paying the principal of and
interest on such bonds. The resolution authorizing the issuance of such
bonds shall specify the total amount of bonds to be issued, the form and
denomination of the bonds, the date they are to bear, the place where they
are payable, the date or dates of maturity, which shall not be more than 10
years from the date of issuance, the rate of interest and the dates on
which interest is payable. Such resolution shall prescribe all the details
of the bonds and shall provide for the levy and collection of a direct
annual tax upon all taxable property in the county sufficient to pay the
principal of the bonds at maturity and the interest thereon as it falls
due. Such tax is not subject to any statutory limitations relative to taxes
that may be extended for county purposes.
(Source: P.A. 86-962; 86-1028.)
|