(105 ILCS 5/19-25)
(from Ch. 122, par. 19-25)
Information to owners of bonds-Refunding agreements.
The corporate authorities of a school district may take any action that
may be necessary to inform the owners of unpaid bonds regarding the
financial condition of the school district, the necessity of refunding its
unpaid bonds and readjusting the maturities thereof in order that
sufficient taxes may be collected to take care of these bonds, and thus
re-establish the credit of the school district. The corporate authorities
may enter into any agreement required to prepare and carry out any
refunding plan and, without any previous appropriation therefor under any
budget law, may incur and pay expenditures that may be necessary in order
to accomplish the refunding of the bonds of the school district.
(Source: Laws 1961, p. 31.)