HB5289 EnrolledLRB096 16711 HLH 32001 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
519-20 as follows:
 
6    (105 ILCS 5/19-20)  (from Ch. 122, par. 19-20)
7    Sec. 19-20. Execution-Maturity-Callable.
8    The refunding bonds shall be of such form and denomination,
9payable at such place, bear such date, and be executed by such
10officials as may be provided by the corporate authorities of
11the school district in the bond resolution. They shall mature
12within not to exceed 20 years from their date, and may be made
13callable on any interest payment date at par and accrued
14interest after notice has been given at the time and in the
15manner provided in the bond resolution; however, the limitation
16shall be 25 years for bonds issued by Valley View Community
17Unit School District 365U that refund (i) bonds authorized
18under Section 19-3 of this Code or (ii) bonds refunding or
19continuing to refund bonds authorized under Section 19-3 of
20this Code.
21(Source: Laws 1961, p. 31.)
 
22    Section 99. Effective date. This Act takes effect upon

 

 

HB5289 Enrolled- 2 -LRB096 16711 HLH 32001 b

1becoming law.