(605 ILCS 5/5-605.2) (from Ch. 121, par. 5-605.2)
Sec. 5-605.2.
Bonds for county highways.
Any county with a
population of less than 1,000,000 inhabitants may, by resolution of its
county board, incur indebtedness for the purpose of constructing,
maintaining or improving county
highways, roads or bridges and may, by resolution of its county board,
issue and sell bonds therefor. The bonds shall be issued in such
principal amount, bear such rate or rates of interest, be payable as to
principal or interest on such date or dates not more than 30 years after
their date of issuance, be in such form and denomination, be subject to
redemption at such prices, be executed by such officials, be sold at such
price and in such manner, and have such other terms and provisions as
determined by the county board and set forth in the authorizing resolution
or resolutions. This Section constitutes a complete and cumulative grant
of authority for the issuance of such bonds, and such bonds shall be
payable from such funds as are pledged therefor by the county board,
except that the county board shall have no authority whatsoever to levy a
special property tax for the purpose of paying such bonds and shall not be
subject to any of the provisions of Section 5-1012 of the
Counties Code or
Section 5-605 of this Code with respect to the issuance of such bonds.
(Source: P.A. 85-962; 86-1475.)
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