(55 ILCS 5/6-5008) (from Ch. 34, par. 6-5008)
Sec. 6-5008.
Execution of bonds; registration.
The bonds shall be
executed by such officials as may be provided in the resolution authorizing
the issue. They may be made registerable as to principal and may be made
callable on any interest payment date at par and accrued interest after
notice has been given at the time and in the manner provided in the resolution.
The bonds shall remain valid even though one or more of the officers executing
the bonds ceases to hold office before the bonds are delivered.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-5009) (from Ch. 34, par. 6-5009)
Sec. 6-5009.
Sinking fund.
The resolution may provide for the
creation of a sinking fund to consist of the proceeds of the taxes levied
for the payment of the principal and interest upon these bonds. This fund
shall be faithfully applied to the purchase or payment of the bonds, and
the interest thereon, issued pursuant to the provisions of Sections 6-5006
through 6-5010.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-5010) (from Ch. 34, par. 6-5010)
Sec. 6-5010.
Sale of bonds.
The bonds shall be sold to the highest
and best bidder at not less than their par value and accrued interest. The
county board shall advertise for proposals to purchase the bonds. Such
advertisement shall be published at least once in a newspaper having
circulation within the county at least 10 days prior to the date for
opening the bids. The county board may reserve the right to reject any and
all bids and to readvertise for bids.
(Source: P.A. 86-962.)
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(55 ILCS 5/Div. 6-6 heading) Division 6-6.
Bonds for Hospitals, Police
Equipment and Voting Machines
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(55 ILCS 5/6-6001) (from Ch. 34, par. 6-6001)
Sec. 6-6001.
Authorization.
The county board of any county with a
population of 1,000,000 or more may, before January 1, 1968, without
referendum, incur an indebtedness and issue general obligation bonds in an
amount not exceeding $10,000,000 for the purpose of hospital improvements,
police equipment, and additional voting machines, and may levy a tax for
the purpose of paying the principal and interest on such bonds.
(Source: P.A. 86-962.)
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