(55 ILCS 5/6-3010) (from Ch. 34, par. 6-3010)
Sec. 6-3010.
Sinking fund.
The resolution of the county board may
provide for the creation of a sinking fund to consist of the proceeds of
the taxes levied for the payment of the principal and interest upon these
bonds. The fund shall be faithfully applied to the purchase or payment of
the bonds, and the interest thereon, issued pursuant to the provisions of
this Division.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-3011) (from Ch. 34, par. 6-3011)
Sec. 6-3011.
Sale of bonds.
The bonds shall be sold to the highest
and best bidder at not less than their par value and accrued interest. The
county board shall advertise for proposals to purchase the bonds. Such
advertisement shall be published at least once in a newspaper having
circulation within the county at least 10 days prior to the date for
opening the bids. The county board may reserve the right to reject any and
all bids and to readvertise for bids.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-3012) (from Ch. 34, par. 6-3012)
Sec. 6-3012.
Petition for referendum.
If a petition is filed with the
county clerk not later than 30 days after the first publication or the
posting of the resolution, signed by voters of the county numbering 10%
or more of the registered voters in such county,
requesting an election to vote upon the proposition of issuing bonds for
the purpose of obtaining funds to construct a county jail and sheriff's
residence, the county clerk shall certify the proposition to the proper
election officials, who shall submit the proposition to the voters at an
election in accordance with the general election law. The ballot shall be
substantially in the following form:
Shall .... county issue bonds YES in the amount of ..... to construct
a county jail? NO
If a majority of the voters voting upon the aforesaid proposition vote in
favor of it, the bonds may be issued by such county, but if a majority of
the voters voting upon the proposition vote against the proposition, the
county may not issue bonds for the purpose of constructing a county jail
under the provisions of this Division.
(Source: P.A. 86-962; 87-767 .)
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(55 ILCS 5/6-3013) (from Ch. 34, par. 6-3013)
Sec. 6-3013.
Effective date of resolution.
If no petition
is filed within the time herein provided, the resolution shall
be in full force and effect at the expiration of such 28-day
period, and such county may proceed to incur the indebtedness
and may issue and sell its bonds. If a petition is filed, the
resolution shall be in abeyance until the indebtedness and the
issuance of bonds in the amount described receives the favorable
vote of a majority of the voters of the county voting on the
proposition.
(Source: P.A. 86-962.)
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(55 ILCS 5/Div. 6-4 heading) Division 6-4.
Bonds for Court Houses
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