(30 ILCS 390/9) (from Ch. 122, par. 1209)
Sec. 9.
To provide for the manner of repayment of the Bonds, the Governor
shall include an appropriation in each annual State Budget of monies in
such amount as shall be necessary and sufficient, for the period covered
by such budget, to pay the interest, as it shall accrue, on all Bonds
issued under this Act and also to pay and discharge the principal of the
Bonds as shall by their terms fall due during such period. A separate
fund in the State Treasury called the "School Construction Bond
Retirement and Interest Fund" is hereby created. The General Assembly
shall make appropriations to pay the principal of and interest on the
Bonds from the School Construction Bond Retirement and Interest Fund.
If for any reason the General Assembly fails to make appropriations of
amounts sufficient for the State to pay the principal of and interest on
the Bonds as the same shall by the terms of the Bonds become due, this Act
shall constitute an irrevocable and continuing appropriation of all amounts
necessary for that purpose, and the irrevocable and continuing authority
for and direction to the Comptroller and to the Treasurer of the State to
make the necessary transfers out of and disbursements from the revenues
and funds of the State available for that purpose.
(Source: P.A. 78-3rd S.S.-24.)
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