55 ILCS 5/ Counties Code.

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55 ILCS 5/6-11001

(55 ILCS 5/6-11001) (from Ch. 34, par. 6-11001)

Sec. 6-11001.

Resolution directing issuance of bonds.

If no petition
for referendum is filed as provided in this Division, or if such petition
is filed and election is had and a majority of the voters voting on the
proposition vote in favor thereof, then the county board may adopt a
resolution directing the issuance of any or all of the bonds described in
the resolution of intention, fixing the details thereof and levying a tax
to pay the same. The bonds shall mature at such time or times as is fixed
in said resolution but not more than 20 years from the date of such bonds,
shall bear interest at not more than the maximum rate authorized by the
Bond Authorization Act, as amended at the time of the making of the
contract, payable annually or semi-annually, and be payable at such place
or places as shall be fixed in said resolution, and shall be signed in the
manner and by the officials directed by the resolution to sign the same.
The amount of such bonds which may be issued shall not be subject to any
statutory debt limitation. Any of the bonds authorized pursuant to the
provisions of this Division may be exchanged for at least a like par amount of
the claims described in the resolution of intention, or said bonds, or some
of them, may be sold for not less than the par value thereof and the
proceeds used to pay at least a like par amount of such claims, provided,
however, said bonds may be delivered from time to time or all at one time.

With respect to instruments for the payment of money issued under this
Section or its predecessor either before, on, or after the effective date
of Public Act 86-4, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Division or "An Act
to authorize any county having a population of less than 70,000 to issue
funding bonds and to provide for the validation of claims to be paid by or
from the proceeds of such bonds", filed June 19, 1939, that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section or its predecessor are not a limitation on the
supplementary authority granted by the Omnibus Bond Acts, and (iii) that
instruments issued under this Section or its predecessor within the
supplementary authority granted by the Omnibus Bond Acts are not invalid
because of any provision of this Division or "An Act to authorize any
county having a population of less than 70,000 to issue funding bonds and
to provide for the validation of claims to be paid by or from the proceeds
of such bonds", filed June 19, 1939, that may appear to be or to have been
more restrictive than those Acts.

(Source: P.A. 86-962; 86-1028.)

55 ILCS 5/6-11002

(55 ILCS 5/6-11002) (from Ch. 34, par. 6-11002)

Sec. 6-11002.

Extension of tax to pay funding bonds.

It shall
be the duty of such county clerk annually when extending
taxes for other corporate purposes to extend taxes for the purpose of
paying the principal of and interest on the bonds therein authorized as
directed in and by said resolution. Such tax shall not be subject to any
statutory limitation as to rate or amount.

(Source: P.A. 86-962.)