(55 ILCS 5/5-23026) (from Ch. 34, par. 5-23026)
Sec. 5-23026.
Details of bonds.
Before issuing any bonds as provided
in this Division, the County Board shall adopt a resolution specifying the
amount of bonds to be issued, the date, denominations, rate of interest and
maturities, and fix all the details with respect to the issue and execution
thereof, and shall levy a tax sufficient to pay both the principal of and
interest upon such bonds as they mature. Such bonds issued in compliance
with the provisions of Section 5-23023 hereof, shall mature at such time or
times as the County Board shall fix, but not to exceed twenty years from
date thereof. Any such bonds, the final maturity of which is within such
maturity limitation heretofore mentioned in said Section 5-23023, shall
mature at such times as the County Board shall fix within said maturity
limitation heretofore mentioned. All of such bonds shall bear interest at
not more than six per cent per annum, payable semi-annually, and shall be
payable at such place as the County Board shall fix.
(Source: P.A. 86-962.)
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