(315 ILCS 30/28.1) (from Ch. 67 1/2, par. 91.128.1)
Sec. 28.1.
Any municipality which as of January 1, 1970, has authorized the
issuance and sale of bonds by referendum pursuant to Section 28, but has
not sold bonds so authorized, may, until January 1, 1972, issue such bonds
at a rate of interest not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, without a further
referendum, upon the adoption of an ordinance authorizing
a rate not to exceed the maximum rate authorized by the Bond Authorization
Act, as amended at the time of the making of the contract, provided by
this Section. Such bonds shall be otherwise subject to the
provisions of Section 28. Bonds may be so issued only up to the amount
authorized by the referendum and not previously sold. This Section does not
affect any bonds previously issued and sold under Section 28. If the
provisions of this Section are held invalid, such invalidity does not
affect the provisions of Section 28 which shall remain in full force and
effect as if this Section had not become law, and to this end the
provisions of this Section are severable from the provisions of Section 28.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
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