55 ILCS 5/5-32050
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 5 - Powers And Duties Of County Boards

 (from Ch. 34, par. 5-32050)Sec. 5-32050.     Form of bonds.     The bonds authorized in the preceding  Section may be in the following form:    "UNITED STATES OF AMERICA    NumberDollars........State of IllinoisCounty of Cook    .... of .... IMPROVEMENT BOND    KNOW ALL MEN BY THESE PRESENTS, that the County of ...., State of Illinois,  hereby acknowledges itself to owe, and for value received promises to pay  to the BEARER the sum of .... Dollars ($....) on the .... day of .... but  subject to prepayment at the par value hereof at any time as hereinafter  provided, together with interest thereon at the rate of .... per cent (..%)  per annum, from date hereof until paid, payable on the .... day of .... and  annually thereafter on the .... day of .... in each year on presentation  and surrender of the interest coupons hereto attached.Bond principal and interest on this bond are payable at the office of  the treasurer of said County of ...., in lawful money of the United States  of America.This bond is issued in exchange for part of the vouchers issued in  payment of the work done under Special Assessment No. .... levied, for the  purpose of ...., which assessment bears interest from the .... day of ....  and this bond and the interest thereon are payable solely out of the  installments of the assessment when collected.THIS BOND IS ONE OF A SERIES OF BONDS WHICH ARE TO BE PAID AND REDEEMED  IN NUMERICAL ORDER AND NOT ON A PRO RATA BASIS.The bonds in the series, aggregating .... Dollars ($....) are numbered  from .... to .... inclusive, bonds numbered .... to .... being of the  denomination of $.... each, are bonds numbered .... to .... being of the  denomination of $.... each.By the terms of the statute and ordinance authorizing these bonds,  whenever there shall be sufficient funds in the hands of the treasurer of  the county of .... after the payment of all interest due on the bonds and  after the establishment of such reserve, if any, as the treasurer, in his  discretion may deem advisable to pay interest to become due at the next  interest coupon date, to prepay one or more of the bonds, then it is the  duty of such treasurer to call and pay such bond or bonds. The treasurer  shall cause notice of such call for prepayment to be published in some  newspaper of general circulation in the county of .... Illinois, not less  than 5 nor more than 30 days prior to the date fixed for prepayment. If no  newspaper is published in the county, such notice shall be published in a  newspaper with a general circulation in the county. This bond will cease to  bear interest on and after the date so fixed for prepayment. The  presentation of the bond will waive the necessity of giving notice of its  call for payment. Bonds shall be paid in numerical order beginning with the  lowest numbered outstanding bond.IN TESTIMONY WHEREOF, the .... of .... has caused this bond to be signed  by the officers prescribed by ordinance, and the coupons hereto attached to  be signed by such officials by the original or facsimile signatures, which  officials, if facsimile signatures are used, do adopt by the execution  hereof as and for their proper signatures their respective facsimile  signatures appearing on the coupons, all as of the .... day of ....    ........    SEALInterest coupons which may be attached to bonds authorized in this  Section may be in the following form:    Coupon No. ....$....On the .... day of ...., unless the bond to which this coupon is  attached shall have theretofore been called for payment at an earlier date  and payment made or provided for, County of .... State of Illinois, will  pay to BEARER .... Dollars ($....), out of funds realized from the  collection of Special Assessment No. .... of the county, at the office of  the treasurer of the county, for interest due on that day on its  improvement bond dated as of the .... day of .... BOND NO. ...."    (Source: P.A. 86-962.)