```
``` ```
``` ```
``` ```
``` ` ` `(70 ILCS 1835/13)` `(from Ch. 19, par. 713)` ```
``` ```
``` ```
``` ` ` `Sec. 13. ` ```
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``` ```
All revenue bonds shall be issued and sold by the Board in such manner
as the Board shall determine. However, if any bonds are issued to bear
interest at the maximum rate of interest allowed by Section 12, the bonds
shall be sold for not less than par and accrued interest. The selling price
of bonds bearing interest at a rate less than the maximum allowable
interest rate per annum shall be such that the interest cost to the
District of the money received from the bond sale shall not exceed the
maximum annual interest rate allowed by Section 12, computed to absolute
maturity of such bonds according to standard tables of bond values.
``` ```
``` `(Source: P.A. 76-1788` `.)` ```
``` ```
``` |