Sen. A. J. Wilhelmi
Filed: 1/4/2011
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1 | AMENDMENT TO HOUSE BILL 5289
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2 | AMENDMENT NO. ______. Amend House Bill 5289 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The School Code is amended by changing Section | ||||||
5 | 19-20 as follows:
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6 | (105 ILCS 5/19-20) (from Ch. 122, par. 19-20)
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7 | Sec. 19-20. Execution-Maturity-Callable.
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8 | The refunding bonds shall be of such form and denomination, | ||||||
9 | payable at
such place, bear such date, and be executed by such | ||||||
10 | officials as may be
provided by the corporate authorities of | ||||||
11 | the school district in the bond
resolution. They shall mature | ||||||
12 | within not to exceed 20 years from their
date, and may be made | ||||||
13 | callable on any interest payment date at par and
accrued | ||||||
14 | interest after notice has been given at the time and in the | ||||||
15 | manner
provided in the bond resolution ; however, the limitation | ||||||
16 | shall be 25 years for bonds issued by Valley View Community |
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1 | Unit School District 365U that refund (i) bonds authorized | ||||||
2 | under Section 19-3 of this Code or (ii) bonds refunding or | ||||||
3 | continuing to refund bonds authorized under Section 19-3 of | ||||||
4 | this Code .
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5 | (Source: Laws 1961, p. 31.)
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6 | Section 99. Effective date. This Act takes effect upon | ||||||
7 | becoming law.".
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