(70 ILCS 1870/17) (from Ch. 19, par. 767)
Sec. 17.
The bonds or certificates
shall be sold by the corporate authorities of
the Port District in such manner as the Board determines, except that if
issued to bear interest at the maximum rate permitted in "An Act to
authorize public corporations to issue bonds, other evidences of indebtedness
and tax anticipation warrants subject to interest rate limitations set forth
therein", approved May 26, 1970, as now or hereafter amended, the bonds shall be
sold for not less than par and accrued interest, and except that the
selling price of the bonds bearing interest at a rate less than the maximum
rate permitted in that Act shall be such that the interest cost to the
district of the money
received from the bond sale shall not exceed such maximum rate
annually computed to
absolute maturity of such bonds or certificates according to standard
tables of bond values.
(Source: P.A. 82-902.)
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