(70 ILCS 2605/10) (from Ch. 42, par. 329)
Sec. 10.
At the time or before incurring any indebtedness, the board of
trustees shall provide for the collection of a direct annual tax sufficient
to pay the interest on such debt as it falls due, and also to pay and
discharge the principal thereof as the same shall fall due, and
within 30 years from the time of contracting the same: Provided
that
any such tax levied to pay the interest on bonds and to discharge the
principal thereof for bonds heretofore issued prior to November 6, 1956, or
for Refunding Bonds thereafter issued to refund said bonds, shall be levied
and extended only upon property within the territorial limits of such
sanitary districts as said territorial limits existed on November 6, 1956.
(Source: P.A. 92-143, eff. 7-24-01.)
|