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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(105 ILCS 5/20-7) (from Ch. 122, par. 20-7)
Sec. 20-7. Resolution for issuance of bonds - Submission to voters - Ballot. No school district may issue bonds under this Article unless it adopts a
resolution declaring its intention to issue bonds for the purpose therein
provided and directs that notice of such intention be published at least
once in a newspaper published and having a general circulation
in the district, if there be one, but if there is no newspaper published
in such district then by publishing such notice in a newspaper having a
general circulation in the district. The notice shall set forth (1)
the intention of the district to issue bonds in accordance with this
Article; (2) the time within which a petition may be filed requesting
the submission of the proposition to issue the bonds; (3) the specific
number of voters required to sign the petition; and (4) the date of
the prospective referendum. At the time of publication of the notice and
for 30 days thereafter, the recording officer of the district shall provide
a petition form to any individual requesting one. If within 30 days after
the publication a petition is filed with the recording officer of the
district, signed by the voters of the district equal to 10% or more of the
registered voters of the district requesting that the proposition to issue
bonds as authorized by this Article be submitted to the voters thereof,
then the district shall not be authorized to issue such bonds until the
proposition has been certified to the proper election authorities and has
been submitted to and approved by a majority of the voters voting on the
proposition at a regular scheduled election in accordance with the general
election law. If no such petition is so filed, or if any and all petitions
filed are invalid, the district may issue the bonds. In addition to the
requirements of the general election law the notice of the election shall
set forth the intention of the district to issue bonds under this Article.
The proposition shall be in substantially the
following form:
OFFICIAL BALLOT
Shall the Board of ....of School District number .... YESCounty, Illinois, be authorizedto issue bonds for a working cash fund as provided forby Article 20 of the NOSchool Code?
(Source: P.A. 96-1277, eff. 7-26-10.)
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