65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/9-3-35

(65 ILCS 5/9-3-35) (from Ch. 24, par. 9-3-35)

Sec. 9-3-35.

At any time after 15 days from date of acceptance of the
work by the corporate authorities bonds may be issued to anticipate the
collection of the unpaid portions of the assessment then remaining
unpaid for the purpose of paying the cost of the improvement, including
cost of making and collecting the assessment, engineering, inspection,
attorney's fees and other costs. The bonds may be sold by the corporate
authorities for not less than par and accrued interest to date of
delivery, or such bonds may be issued and delivered to the contractor in
payment of the work at not less than par. The bonds shall be authorized
pursuant to a resolution adopted by the corporate authorities and shall
bear a date not earlier than 20 days after the date of the awarding of
the contract for the construction of the improvement and coupons shall
be attached thereto representing interest due thereon as it matures,
interest to be paid annually. The bonds shall be executed by the
presiding officer of the municipality and attested by the clerk of such
municipality, with the corporate seal attached thereto. The bonds shall
recite specifically that they are payable solely and only from the
assessment levied for the payment of the cost of the improvement,
designating the improvement for which the assessment has been levied,
and shall mature on or before the first day of December next succeeding
the first day of January on which the last installment shall mature, and
shall bear interest at a rate of one per cent less than the installments
of the assessment against which they are issued bears. Interest coupons
attached to the bond shall bear the official or facsimile signatures of
the presiding officer and clerk. The bonds shall be made payable at such
place or places either within or without the State of Illinois, as shall
be declared by resolution of the corporate authorities. The bonds shall
be numbered consecutively beginning with number one upwards and shall be
payable in their numerical order, and redeemable prior to maturity in
numerical order as hereinafter provided. Such bonds shall be registered
by the treasurer of such municipality in a book provided for that
purpose and each bond shall bear the certificate of such registration
and upon the books of such treasurer shall be noted the name of the
holder thereof and his address. Any subsequent holder may cause the same
to be registered in the name of such subsequent holder upon submission
of proper proof of ownership. Such municipality shall have the right to
call and pay the bonds, or any number thereof, in the manner set out in
Section 9-3-36.

(Source: Laws 1961, p. 576.)

65 ILCS 5/9-3-36

(65 ILCS 5/9-3-36) (from Ch. 24, par. 9-3-36)

Sec. 9-3-36.

Whenever there are sufficient funds in the hands of the
treasurer after the payment of all interest due and to become due within 6
months, the treasurer shall on the first day of October of any year, or at
any other time there are sufficient funds for that purpose on hand during
the year, give notice by registered mail, addressed to the last registered
holder of the bonds called at the address appearing upon his registry, that
there are funds sufficient to pay the designated bonds and interest thereon
to date 30 days hence from the date of such notice and directing
presentation of such bonds for payment and cancellation, and the bonds
shall cease to bear interest after the expiration of the 30 days and upon
payment and cancellation of the bonds proper entry thereof shall be made
upon the books of the treasurer. The treasurer, upon accumulation of
sufficient funds, as herein provided, shall pay one or more bonds and shall
call and pay such bonds, and any bondholder or holder of any interest
coupon appertaining to any bond shall be entitled to summary relief by
mandamus or injunction to enforce the provisions hereof. In addition to
giving notice by registered mail to the last registered holder of such
bonds, the treasurer shall cause to be published in a newspaper published
and of general circulation in such municipality, if there is such a
newspaper. If there is no such newspaper, the notice shall be given by
posting in at least 3 places within the area designated as probably
benefited by the improvement. Such notice shall be a notice of call and
redemption addressed to all unknown bondholders specifying the number of
the bonds called and designating the assessment against which the bonds
have been issued, and indicating that interest will cease on the bonds 30
days from and after the date of publication of such notice, and thereafter
the bonds shall cease to bear interest. Provisions as to redemption and
call of the bonds shall be inserted in each of the bonds issued in
accordance with the provisions of this Division 3.

(Source: Laws 1961, p. 576.)

65 ILCS 5/9-3-37

(65 ILCS 5/9-3-37) (from Ch. 24, par. 9-3-37)

Sec. 9-3-37.

Any deduction in assessments made pursuant to the order of the
court may be added to and become part of the municipality's portion of the
cost of the improvement. The corporate authorities by the adoption of the
resolution may direct the attorney member of the committee on local
improvements to file a motion to authorize the court to add the deduction
to the municipality's portion of the assessment.

(Source: Laws 1961, p. 576.)

65 ILCS 5/9-3-38

(65 ILCS 5/9-3-38) (from Ch. 24, par. 9-3-38)

Sec. 9-3-38.

No collateral attack or litigation shall be instituted which
in any way questions the enforceability of the validity of the bonds issued
under the provisions of this Division 3 unless such litigation is
instituted within 15 days after the issue and delivery of the bonds to the
contractor on payment of work, or within 15 days after the issue and
delivery thereof to a purchaser, as in this Division 3 provided.

(Source: Laws 1961, p. 576.)