(70 ILCS 810/42.2) (from Ch. 96 1/2, par. 6445.2)
Sec. 42.2.
For the purpose of creating a fund as prescribed in Section
42.1, a forest preserve district by resolution of its board may incur an
indebtedness and issue bonds therefor, not to exceed in the aggregate
$3,000,000 including the amount of all such bonds issued for this purpose prior
to the effective date of this Act. Such bonds shall bear interest at not more
than the maximum rate provided by law and shall mature within 20 years from the
date thereof. The board may provide that the resolution or resolutions
authorizing the issue of such bonds shall be operative, effective and valid
without the submission thereof to the voters of such district for approval. The
board of such district shall before or at the time of issuing such bonds
provide for the collection of a direct annual tax upon all the taxable property
in such district, sufficient to pay and discharge the principal thereof at
maturity and to pay the interest thereon as it falls due.
(Source: P.A. 87-1191.)
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