55 ILCS 5/ Counties Code.

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55 ILCS 5/6-2002

(55 ILCS 5/6-2002) (from Ch. 34, par. 6-2002)

Sec. 6-2002.

Issuance of notes in anticipation of taxes.

Whenever
there are not sufficient funds on hand to pay obligations
and the Board of Commissioners of the County shall deem it for the best
interest of the County to provide funds for the payment of its obligations
which are either corporate expenses or otherwise, whether due or to accrue
in the then fiscal year, and it shall theretofore have levied taxes for the
payment of such obligations and shall have filed with the proper County
Clerk the necessary evidence of such levy, such County is hereby authorized
to provide funds for such purpose and issue its notes therefor in the
manner provided in this Division, provided, however, that after
January 1, 1930, no notes shall be issued other than for the payment of
corporate and highway expenses.

The Board of Commissioners shall provide for such issue by an
appropriate resolution which shall set forth:

(a) The amount of money to be borrowed and the purpose for which it will
be expended, the estimated revenues and the aggregate appropriations for
such purpose. The purpose need not be stated in detail, but the statement
thereof shall indicate whether such funds are for the payment of general
corporate expenses or for a particular fund, and if for a particular fund
same shall be identified.

(b) The date, rate of interest, place of payment and maturity or
maturities. Such notes may be payable at a bank or at the office of the
County Treasurer.

(c) The amount of warrants or notes theretofore issued under this or any
other act to anticipate the collection of such taxes.

(d) A pledge of so much of such taxes as may be necessary for the
payment of obligations issued hereunder.

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

55 ILCS 5/6-2003

(55 ILCS 5/6-2003) (from Ch. 34, par. 6-2003)

Sec. 6-2003.

Form of notes.

Notes issued under this Division
shall be due not more than 12 months from the date of issue and shall be
payable at any time when the County Treasurer has funds sufficient to pay
all or a portion of such issue. Notes issued under this Division shall bear
interest at not more than the maximum rate authorized by the Bond
Authorization Act, as amended at the time of the making of the contract, if
issued before January 1, 1972 and not more than the maximum rate authorized
by the Bond Authorization Act, as amended at the time of the making of the
contract, if issued after that date, payable annually or semi-annually or
at the time of payment of principal. The interest to the due date of the
note may be represented by appropriate coupons and be executed by the
facsimile signature of the County Treasurer. No notes shall be issued under
this Division after the tax to be anticipated is delinquent. No notes shall
be issued or sold, unless such issuance and sale is authorized by a vote of
at least 2/3 of the members elected to the County Board. The notes shall be
sold to the highest responsible bidder after due advertisement and public
opening of bids. The County Board may authorize notes to be issued and sold
from time to time and in such amounts as the County Treasurer deems
necessary to provide funds to pay obligations due or to accrue within each
quarterly period of the fiscal year.

Notes issued under this Division shall be received by any collector of taxes
in payment of taxes against which they are issued at par plus accrued
interest, and when so received shall be cancelled with the same effect as
though paid pursuant to this Division.

Such notes shall be signed by the presiding officer of the Board, be
attested by the Comptroller and be countersigned by the Treasurer. Such
notes shall be payable to bearer provided that the notes may be registered
as to principal in the name of the holder on the books of the County
Treasurer and evidence of such registration shall be endorsed upon the back
of notes so registered. After such registration no transfer shall be made
except upon such books and similarly noted on the note unless the last
registration was to bearer. Such notes may be re-registered from time to
time in the name of the designated holder but such registration shall not
affect the negotiability of the coupons attached.

With respect to instruments for the payment of money issued under this
Section or its predecessor either before, on, or after the effective date
of Public Act 86-4, 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 Division or "An Act
concerning the anticipation of taxes and obligations in respect thereof in
counties having more than 1,000,000 population", approved May 22, 1929,
that may appear to be or to have been more restrictive than those Acts,
(ii) that the provisions of this Section or its predecessor are not a
limitation on the supplementary authority granted by the Omnibus Bond Acts,
and (iii) that instruments issued under this Section or its predecessor
within the supplementary authority granted by the Omnibus Bond Acts are not
invalid because of any provision of this Division or "An Act concerning the
anticipation of taxes and obligations in respect thereof in counties having
more than 1,000,000 population", approved May 22, 1929, that may appear to
be or to have been more restrictive than those Acts.

(Source: P.A. 86-962; 86-1028.)

55 ILCS 5/6-2004

(55 ILCS 5/6-2004) (from Ch. 34, par. 6-2004)

Sec. 6-2004.

Copy of resolution filed with County Treasurer.

A certified copy of the resolution adopted pursuant to the provisions of
this Division, together with such other showings as may be deemed proper in
the particular case shall be filed with the County Treasurer. There shall
also be presented to the Treasurer the printed or lithographed notes and
coupons, duly executed, for authentication.

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

55 ILCS 5/6-2005

(55 ILCS 5/6-2005) (from Ch. 34, par. 6-2005)

Sec. 6-2005.

Certificate of County Treasurer endorsed on notes.

Whenever satisfactory showings as prescribed by this Division shall have
been filed with the County Treasurer he shall examine the same and if found
to be in compliance with this Division he shall endorse on the back of each
note his certificate of authenticity which certificate shall set forth:

(a) The value of taxable property of the municipality as last equalized
by the Tax Commission.

(b) The amount of the levy from the proceeds of which such note is
payable and the rate limit if any on the amount of such levy.

(c) The amount of anticipatory obligations theretofore issued and
payable out of such taxes and the amount of the issue of which such note is
one.

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

55 ILCS 5/6-2006

(55 ILCS 5/6-2006) (from Ch. 34, par. 6-2006)

Sec. 6-2006.

Registry of notes.

The County Treasurer shall keep a
registry of each series of notes so issued, together with a copy thereof.
For such authentication the County Treasurer shall be paid by the
municipality a fee of $1 for each note so authenticated, but the minimum
fee for any issue of notes shall be $10.

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