55 ILCS 5/ Counties Code.

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55 ILCS 5/5-32051

(55 ILCS 5/5-32051) (from Ch. 34, par. 5-32051)

Sec. 5-32051.

Call and payment of bonds.

The county shall have the
right to call and pay the bonds authorized in Section 5-32049 or any number
thereof in the following manner. Whenever there are sufficient funds in the
hands of the treasurer to redeem one or more of the bonds, after the
payment of all interest due, and after the establishment of such reserve,
if any, as the treasurer, in his discretion, may deem advisable to pay
interest to become due at  the next interest coupon date, the treasurer by
publication as provided in this Section, shall call and pay such bond or
bonds. The county treasurer shall cause notice of such call for payment to
be published in a newspaper published in the county, or if no newspaper is
published therein, then in a newspaper with a general circulation within
the county. The notice shall specify the number or numbers of the bonds
called, designating the assessment against which the bonds have been
issued, and directing presentation of such bonds for payment and
cancellation, and indicating that interest will cease on the bonds not
less than 15 days nor more than 30 days from the date of the publication
of such notice, and thereafter the bonds shall cease to bear interest.
The presentation of any bond to the treasurer for payment shall waive
the necessity of giving notice of its call for payment.

The treasurer upon accumulation of sufficient funds shall pay one or
more bonds and shall call and pay such bonds. Any bondholder or holder
of any interest coupon appertaining to any bond, after giving reasonable
notice, shall be entitled to summary relief by mandamus or injunction to
enforce these provisions.

When bonds are issued under Section 5-32049 all collections of the
special assessment installments and all interests collected shall
constitute a single fund which shall be applied first to the payment of
interest due and to the establishment of such reserve, if any, as the
treasurer in his discretion may deem advisable to pay interest to become
due at the next interest coupon date, and then to the redemption and
payment of bonds as provided herein. Where the ordinance for the
improvement provides for the collection of all costs, collections made on
the first installment shall be used first to pay such costs and any surplus
shall be used to pay bonds and interest as provided herein. Provisions as
to redemption and call of the bonds shall be inserted in each of the bonds
issued in accordance with the provisions of this Section.

(Source: P.A. 86-962.)

55 ILCS 5/5-32052

(55 ILCS 5/5-32052) (from Ch. 34, par. 5-32052)

Sec. 5-32052.

Sale of bonds.

The bonds may be sold, or paid to the
contractor having the contract for the improvement for which the assessment
was levied, at no less than their par value and interest accrued to time of
delivery, whether sold, or paid to the contractor.

(Source: P.A. 86-962.)

55 ILCS 5/5-32053

(55 ILCS 5/5-32053) (from Ch. 34, par. 5-32053)

Sec. 5-32053.

Payment.

Payment for any improvement done or performed
under the provisions of this Division to be paid for out of any special
assessment levied in installments as provided in this Division may be made
in the bonds provided for.

The first installment of such special assessment and all other
installments thereon shall be held and used to pay the bonds and interest
thereon as provided in Section 5-32049.

Where the ordinance for the improvement provides for the collection of
the costs, such costs shall first be paid out of their first installment,
and may be included in and evidenced by vouchers issued as provided in this
Division.

(Source: P.A. 86-962.)

55 ILCS 5/5-32054

(55 ILCS 5/5-32054) (from Ch. 34, par. 5-32054)

Sec. 5-32054.

Payment of assessment with vouchers or bonds.

Any property owner may pay the assessment wholly or in part, either before
or after it is due and whether or not the assessment has been withdrawn
from collection or the property assessed has been forfeited to the State
for non-payment of that assessment with the bonds or vouchers issued under
this Division on account of that assessment. Such bonds may be
applied to the payment of any and all installments, but only such of those
bonds may be used as are next in numerical order of redemption at the time
of making such payment. In making such payments the vouchers and bonds
shall be taken at their par value and interest accrued to the date of
making the payment. All vouchers and bonds received in payment of such an
assessment shall be cancelled by the officer receiving the vouchers or
bonds, as of the date of their receipt and then deposited with the
treasurer of the county issuing the vouchers or bonds.

However, when the amount of the assessment is less than that of a bond
or voucher, the officer receiving the same shall issue a receipt for the
balance which shall entitle the owner to the same rights, except as to
negotiability, as if the receipt were the original bond or voucher in the
amount of the balance. Any such endorsement on any such bond or voucher
shall be made by writing or stamping across the face thereof the words
"payments upon this bond (or voucher) are listed upon the back".

(Source: P.A. 86-962.)

55 ILCS 5/5-32055

(55 ILCS 5/5-32055) (from Ch. 34, par. 5-32055)

Sec. 5-32055.

Claim or lien of persons accepting vouchers or bonds.

No person accepting the vouchers or bonds as provided in this Division shall
have any claim or lien upon the county in any event for the payment of his
vouchers or bonds or the interest thereon, except from the collection of
the assessment against which the vouchers or bonds are issued. The county,
nevertheless, shall not be in any way liable to the holders of these
vouchers or bonds in case of a failure to collect the assessment, but with
all reasonable diligence, so far as it can legally do so, it shall cause a
valid special assessment to be levied and collected to pay these bonds and
vouchers, until all bonds and vouchers are fully paid. Any holder of
vouchers or bonds or his assigns, shall be entitled to summary relief by
way of mandamus or injunction to enforce the provisions of this Section.

(Source: P.A. 86-962.)

55 ILCS 5/5-32056

(55 ILCS 5/5-32056) (from Ch. 34, par. 5-32056)

Sec. 5-32056.

Work progress payments; reserve.

From time to time, as
the work under any contract for such an improvement progresses, upon
certificates by the Committee or by some officer designated by the
Committee for that purpose, payment may be made either in money, vouchers
or bonds as provided for in this Division, to apply upon the contract
price, reserving, however, a sufficient amount upon each of the payments to
properly secure, in the judgment of the Committee, the faithful performance
of the contract. This reserve shall be paid over at such time and on such
conditions as the Committee shall fix, after the specified work has been
completed or accepted.

(Source: P.A. 86-962.)

55 ILCS 5/5-32057

(55 ILCS 5/5-32057) (from Ch. 34, par. 5-32057)

Sec. 5-32057.

Estimate of interest deficiency.

The Committee before
crediting of the excess as provided for in Section 5-32043, shall estimate
an amount as authorized in this Division sufficient to make up any probable
deficiency of interest, in the event that from any cause, collections of
interest may provide insufficient to meet the interest to be paid on the
bonds until they mature as provided in this Division. This estimated amount
shall be deducted out of the installments as an item of expense before
crediting rebates of excess as directed in this Division, and shall be used
for no other purpose than to make up such a deficiency until the bonds are
fully paid, both principal and interest. Any balance remaining of this
estimated amount after the principal and interest of the bonds are fully
paid may be used to reimburse the county fund for any advance made from
this fund on account of costs of the special assessment or other expenses
of the improvement for which the special assessment is levied.

(Source: P.A. 86-962.)

55 ILCS 5/5-32058

(55 ILCS 5/5-32058) (from Ch. 34, par. 5-32058)

Sec. 5-32058.

Surplus after final settlement; rebate.

If, after the final settlement with the contractor for any improvement
and after full payment of all vouchers or bonds issued on account of that
improvement, there is any surplus remaining in the special assessment above
the specified payments and above the amount necessary for the payment of
interest on these vouchers or bonds, the proper authorities of the county
shall declare at once a rebate upon each lot, block, tract or parcel of
land assessed, of its pro rata proportion of that surplus. Such rebate
shall be paid to the owner of record of each such lot, block, tract or
parcel at the time of the declaration of such rebate. The Committee shall
keep and exhibit publicly in its office, an index of all warrants upon
which rebates are due and payable and upon proper proof, the warrants shall
be repaid to the persons entitled thereto.

(Source: P.A. 86-962.)

55 ILCS 5/5-32059

(55 ILCS 5/5-32059) (from Ch. 34, par. 5-32059)

Sec. 5-32059.

Costs and expenses.

The costs and expenses of
maintaining the Committee for paying salaries of the members of the
Committee and the expense of making, levying and collecting the special
assessment, and also the entire cost and expense attending the making and
return of the assessment roll, the legal notices and court costs and the
costs of printing of the bonds shall be provided for in the ordinance for
the prescribed assessment by adding to the total assessment a certain sum
not to exceed 6% of the amount of this assessment, which shall be applied
by the Committee toward the payment of the specified and other costs of
making, levying and collecting this assessment. In addition the ordinance
may provide as an additional cost to be included into the total assessment
a sum not to exceed 10% of the estimated cost of the work, which shall be
applied to making up any probable deficiency of interest in bonds or
vouchers to be issued.

The limitation in the preceding paragraph shall not be applied to the
costs of the engineering and inspection connected with any local
improvement, but these costs may be included in the cost of the improvement
to be defrayed by special assessment. Payment of the costs of engineering
and inspection and the cost of making, levying and collecting the special
assessment shall be made by the issuance of vouchers collectible against
the first installment of the special assessment.

(Source: P.A. 86-962.)

55 ILCS 5/5-32060

(55 ILCS 5/5-32060) (from Ch. 34, par. 5-32060)

Sec. 5-32060.

Appeals.

Appeals from final judgments or orders
of any court made in the proceedings provided for by this Division,
may be taken to the Supreme Court of this State in the manner provided in
other civil cases, by any of the owners or parties assessed therein.
However, no appeal may be taken after 30 days from the entry of the final
judgment or order. Such appeal may be prosecuted jointly and upon a joint
bond or severally and upon several bonds as may be specified in the order
fixing the amount and terms of such bonds.

(Source: P.A. 86-962.)