55 ILCS 5/ Counties Code.

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55 ILCS 5/6-9003

(55 ILCS 5/6-9003) (from Ch. 34, par. 6-9003)

Sec. 6-9003.

Sale or exchange of bonds.

Such refunding bonds may be
exchanged par for par for principal, interest or both, described in the
authorizing resolution, or may be sold at not less than their par value,
and the proceeds of the sale shall be used only for the purpose of paying
such principal, interest or both.

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

55 ILCS 5/6-9004

(55 ILCS 5/6-9004) (from Ch. 34, par. 6-9004)

Sec. 6-9004.

Tax for principal and interest.

It
shall be the duty of the County Clerk, annually, to extend a tax
upon all of the taxable property in the county sufficient to pay maturing
principal of and interest on said refunding bonds. Said tax shall not be
subject to any statutory limitations now or hereafter enacted relative to
taxes which may be extended for county purposes.

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

55 ILCS 5/Div. 6-10

(55 ILCS 5/Div. 6-10 heading) Division 6-10.

Refunding Bonds - Tax Levy

55 ILCS 5/6-10001

(55 ILCS 5/6-10001) (from Ch. 34, par. 6-10001)

Sec. 6-10001.

Refunding bonds.

The corporate authorities of any county,
without submitting the question to the electors thereof for approval, may
authorize by ordinance the issuance of refunding bonds (1) to refund its
bonds prior to their maturity; (2) to refund its unpaid matured bonds; (3)
to refund matured coupons evidencing interest upon its unpaid bonds; (4) to
refund interest at the coupon rate upon its unpaid matured bonds that has
accrued since the maturity of those bonds; and (5) to refund its bonds
which by their terms are subject to redemption before maturity.

The refunding bonds may be made registerable as to principal and may
bear interest at a rate not to exceed 6% annually, payable at
such time and place as may be provided in the bond ordinance.

The refunding bonds shall remain valid even though one or more of the
officers executing the bonds ceases to hold his or their offices before the
bonds are delivered.

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