(55 ILCS 5/6-10007) (from Ch. 34, par. 6-10007)
Sec. 6-10007.
Procedure by corporate authorities to effectuate
refunding plan. The corporate authorities of a county may take any action
that may be necessary to inform the owners of unpaid bonds regarding the
financial condition of the county, the necessity of refunding its unpaid
bonds and readjusting the maturities thereof in order that sufficient taxes
may be collected to take care of these bonds, and thus re-establish the
credit of the county. The corporate authorities may enter into any
agreement required to prepare and carry out any refunding plan and, without
any previous appropriation therefor under any budget law, may incur and pay
expenditures that may be necessary in order to accomplish the refunding of
the bonds of the county.
(Source: P.A. 86-962.)
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