(65 ILCS 90/6) (from Ch. 24, par. 1406)
Sec. 6.
Bonds secured by the full faith and credit of the area included
in the wastewater disposal zone may be issued for the purpose of construction
and operation of the disposal system. Bonds, when so issued, shall be retired
by the levy of taxes against the property included in the zone as provided
in the ordinance authorizing the issuance of the bonds. Prior to the issuance
of such bonds, notice shall be given and a hearing shall be held pursuant
to the provisions of Sections 9 and 10 of this Act. For purposes of this
Section the notice shall include:
(1) The time and place of hearing;
(2) The boundaries of the zone by legal description and by street location,
where possible;
(3) A notification that all interested persons owning real estate located
within the wastewater disposal zone will be given an opportunity to be heard
at the hearing regarding the issuance of such bonds and an opportunity to
file objections to the issuance of such bonds if the tax to retire such
bonds is to be a tax upon such property; and
(4) The maximum amount of bonds proposed to be issued, the maximum period
of time over which said bonds shall be retired, and the maximum interest
rate said bonds shall bear.
Any bonds issued shall not exceed the number of bonds, the interest rate
and the period of extension set forth in the notice unless an additional
hearing is held.
(Source: P.A. 80-1371.)
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