92nd General Assembly
Summary of SB0598
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Senate Sponsors:
PETKA.

House Sponsors:
HASSERT

Short description: 
LIBRARY DIST-TAX TO REFND BOND                                             

Synopsis of Bill as introduced:
        Amends the Public Library District Act of 1991.  Allows  property      
   taxes  to be extended to pay the principal and interest on the general      
   obligation bonds of a library  district  that  are  issued  to  refund      
   certain bonds if (i) the net interest rate on the refunding bonds does      
   not exceed the net interest rate on the refunded bonds, (ii) the final      
   maturity  date of the refunding bonds does not extend beyond the final      
   maturity date of the  refunded  bonds,  and  (iii)  the  debt  service      
   payable  on  the  refunding bonds in any year does not exceed the debt      
   service that would have been payable on the refunded bonds that  year.      
   Provides that the amendatory provisions are inoperative after June 30,      
   2002.  Effective immediately.                                               
 
Last action on Bill: PUBLIC ACT.............................. 92-0368

   Last action date: AUG-15-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status