(70 ILCS 1830/24.1) (from Ch. 19, par. 524.1)
Sec. 24.1.
All revenue bonds shall be issued and sold by the Board in such manner
as the Board shall determine. However, if any bonds are issued to bear
interest at the maximum rate of interest allowed by Section 23.1 of this
Act, the bonds shall be sold for not less than par and accrued interest.
The selling price of bonds bearing interest at a rate less than the maximum
allowable interest rate per annum shall be such that the interest cost to
the District of the money received from the bond sale shall not exceed the
maximum annual interest rate allowed by Section 23.1 of this Act, computed
to absolute maturity of such bonds according to standard tables of bond
values.
(Source: P.A. 77-2109.)
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