Sen. A. J. Wilhelmi
Filed: 1/4/2011
 
 

 

 

 
09600HB5289sam001LRB096 16711 NHT 44694 a



1
AMENDMENT TO HOUSE BILL 5289




2    AMENDMENT NO. ______. Amend House Bill 5289 by replacing 
3everything after the enacting clause with the following:

 
4    "Section 5. The School Code is amended  by changing Section 
519-20 as follows:
 



6    (105 ILCS 5/19-20)  (from Ch. 122, par. 19-20)



7    Sec. 19-20. Execution-Maturity-Callable. 

8    The refunding bonds shall be of such form and denomination, 
9payable at
such place, bear such date, and be executed by such 
10officials as may be
provided by the corporate authorities of 
11the school district in the bond
resolution. They shall mature 
12within not to exceed 20 years from their
date, and may be made 
13callable on any interest payment date at par and
accrued 
14interest after notice has been given at the time and in the 
15manner
provided in the bond resolution; however, the limitation 
16shall be 25 years for bonds issued by Valley View Community 
 
 
09600HB5289sam001- 2 -LRB096 16711 NHT 44694 a

1Unit School District 365U that refund (i) bonds authorized 
2under Section 19-3 of this Code or (ii) bonds refunding or 
3continuing to refund bonds authorized under Section 19-3 of 
4this Code.

5(Source: Laws 1961, p. 31.)

 

6    Section 99. Effective date. This Act takes effect upon 
7becoming law.".