(70 ILCS 3710/9) (from Ch. 111 2/3, par. 221)
Sec. 9.
At the time of or before incurring any indebtedness the board
of trustees shall provide for the collection of a direct annual tax
sufficient to pay the interest on the debt as it falls due, and also to
pay and discharge the principal thereof as the same shall fall due and
at least within 20 years from the time of contracting same. The tax rate
shall not exceed .075 per cent of value, as equalized or assessed by the
Department of Revenue.
(Source: P.A. 81-1509.)
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