Sen. A. J. Wilhelmi

Filed: 1/4/2011

 

 


 

 


 
09600HB5289sam001LRB096 16711 NHT 44694 a

1
AMENDMENT TO HOUSE BILL 5289

2    AMENDMENT NO. ______. Amend House Bill 5289 by replacing
3everything after the enacting clause with the following:
 
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

 

 

09600HB5289sam001- 2 -LRB096 16711 NHT 44694 a

1Unit School District 365U that refund (i) bonds authorized
2under Section 19-3 of this Code or (ii) bonds refunding or
3continuing to refund bonds authorized under Section 19-3 of
4this Code.
5(Source: Laws 1961, p. 31.)
 
6    Section 99. Effective date. This Act takes effect upon
7becoming law.".