55 ILCS 5/ Counties Code.

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55 ILCS 5/5-34005

(55 ILCS 5/5-34005) (from Ch. 34, par. 5-34005)

Sec. 5-34005.

Reduction of taxes on payment of bonds called.

Whenever any Expressway bonds are called for payment and paid as provided
in Section 5-34004, the taxes thereafter to be extended for payment of the
principal of and interest on the remainder of the issue shall be reduced in
an amount equal to the principal of and interest that would have thereafter
accrued upon the Expressway bonds so called for payment and paid. A
resolution or resolutions shall be adopted by the Board of Commissioners
finding these facts and a certified copy or copies thereof shall be filed
with the County Clerk and with the Directors of the Department of Central
Management Services and the Department of Transportation. The County Clerk
shall thereupon reduce and extend such tax levies in accordance with said
resolution or resolutions. To the extent  that moneys from the State of
Illinois have actually been paid into the Expressway bond and interest
sinking fund account or accounts required to be created by Section 5-34006, the
taxes next to be extended for payment of principal of and interest on said
bonds shall be abated, or reduced, as the case may be. Prior to the
extension of each year's taxes, the Board of Commissioners of such county
shall adopt a resolution or resolutions finding such facts and shall file a
certified copy or copies thereof with the County Clerk. Thereupon the
County Clerk shall abate or reduce, as the case may be, and extend such tax
levies in accordance therewith.

(Source: P.A. 86-962.)

55 ILCS 5/5-34006

(55 ILCS 5/5-34006) (from Ch. 34, par. 5-34006)

Sec. 5-34006.

Deposit of proceeds.

Moneys received from the proceeds of
taxes levied for the payment of principal of and interest on Expressway
bonds and moneys received from the State of Illinois applicable to such
payment of principal of and interest on Expressway bonds shall be deposited
in a special account hereby required to be created and which shall be
designated as the "Expressway Bond and Interest Sinking Fund Account of the
County of ....". If more than one resolution authorizing Expressway bonds
is adopted, a separate sinking fund account shall be created for the
Expressway bonds issued pursuant to each such resolution. The moneys in
each such sinking fund account shall be faithfully applied to the payment
of Expressway bonds and interest thereon as provided in this Division.
If the moneys in such sinking fund account or accounts is not
immediately necessary for the payment of Expressway bonds and interest
thereon, then, under the direction of the Board of Commissioners of the
County, the moneys may be invested by the Treasurer and the Comptroller, if
there is a Comptroller of the County, in the bonds or other
interest-bearing obligations of the United States or in bonds of the State
of Illinois. The maturity date of the securities in which these moneys are
invested shall be prior to the due date of the particular issue of
Expressway bonds of the investing county. The Board of Commissioners may
cause these securities to be sold whenever necessary to obtain cash to meet
bond and interest payments.

(Source: P.A. 86-962.)