Sen. A. J. Wilhelmi
Filed: 1/4/2011
| |||||||
| |||||||
| |||||||
| 1 | AMENDMENT TO HOUSE BILL 5289
| ||||||
| 2 | AMENDMENT NO. ______. Amend House Bill 5289 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
| ||||||
| 4 | "Section 5. The School Code is amended by changing Section | ||||||
| 5 | 19-20 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, | ||||||
| 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 | ||||||
| |||||||
| |||||||
| 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.
| ||||||
| 5 | (Source: Laws 1961, p. 31.)
| ||||||
| 6 | Section 99. Effective date. This Act takes effect upon | ||||||
| 7 | becoming law.".
| ||||||