reglab/housing_qa huggingface dataset:
55 ILCS 5/6-8001
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8001)Sec. 6-8001.     Bonds for excess claim against county.     When any  county has audited or allowed claims for county expenses  or county purposes that are outstanding and that, when added to  the sum levied for county purposes, exceed the  sum of 25 cents on the $100 valuation of property, the county board may, by  an order entered of record setting forth substantially the amount of  the outstanding claims, provide for the submission of the  question of issuing the bonds of the county for such sum as may be  reasonably necessary for the purpose to a vote of the people of the  county at a regular election after the passage of the  resolution.  The county board shall certify the resolution and the  proposition to the proper election officials, who shall submit the  proposition at a regular election in accordance with the general election  law.The county board of any county having a population in excess of 200,000  may issue bonds for the purpose of paying claims for county expenses or  county purposes audited or allowed by the county board without submitting  the question of issuing the bonds to a vote of the people of the county.  These bonds shall mature within 10 years from the date of issuance.  The  aggregate principal amount of bonds to pay such claims that may ever be  issued without being authorized by referendum shall not exceed $2,500,000.    (Source: P.A. 86-962; 87-895.)
55 ILCS 5/6-8002
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8002)Sec. 6-8002.     Form of votes.     The votes in favor of the proposition  to issue bonds, at an election, shall be "For issuing bonds," and  those against shall be "Against issuing bonds," and if a majority of the  votes cast upon the question are "For issuing bonds" then the county  board shall have power to cause to be issued bonds of said county in  accordance with the terms of the order in Section 6-8001.    (Source: P.A. 86-962.)
55 ILCS 5/6-8003
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8003)Sec. 6-8003.     Signature on bonds.     The bonds issued under the authority  of this Division shall be signed in the name of the county by the chairman  of the board of county commissioners in counties not under township  organization and by the chairman of the county board in counties under  township organization, and shall be countersigned by the county clerk and  shall have the seal of the county attached thereto.    (Source: P.A. 86-962.)
55 ILCS 5/6-8004
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8004)Sec. 6-8004.     Payment of interest.     The bonds issued by authority of  this Division shall be payable at such time or times as the county board  may in said order determine not exceeding, however, twenty years from the  date of issue and shall bear interest at such rate per annum as shall by  said order be fixed not exceeding five per cent.    (Source: P.A. 86-962.)
55 ILCS 5/6-8005
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8005)Sec. 6-8005.     Sale of bonds.     The said bonds or such as may be necessary  shall be sold to the highest bidder under the direction of the county board  by receiving sealed bids therefor, but no bond shall be sold for less than  par and accrued interest and at least fifteen days notice of the time and  place of receiving bids for such bonds shall be given by the county clerk  by publication thereof for at least two successive weeks in some newspaper  of general circulation in said county.    (Source: P.A. 86-962.)
55 ILCS 5/6-8006
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8006)Sec. 6-8006.     Proceeds to be separate fund.     The money realized from  the sale of said bonds, or any of them shall be kept as a separate fund and  disbursed only for the purpose for which they were issued: Provided, that  any surplus that may remain after the payment of all demands against said  funds may be used for other county purposes.    (Source: P.A. 86-962.)
55 ILCS 5/6-8007
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-8007)Sec. 6-8007.     Amount of taxes.     The county board of each county issuing  bonds under the provisions of this Division shall include in  the amounts of all taxes to be raised for county purposes in each year a  sum sufficient to pay the accruing interest on such bonds and also a  sufficient sum to be set apart as a sinking fund to be accumulated and used  for the payment of the principal of said bonds at their maturity.    (Source: P.A. 86-962.)
55 ILCS 5/Div. 6-9 heading
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 Division 6-9.      Refunding Bonds - Counties Under 200,000 Population
55 ILCS 5/6-9001
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-9001)Sec. 6-9001.     Issuance of refunding bonds.     Whenever  any county having a population of less than 200,000, has  outstanding bonds issued for any purpose authorized by law which are  binding and subsisting legal obligations, and it has no money with which to  pay the principal of or interest on such bonds, such county is hereby  authorized to issue its refunding bonds for the purpose of paying such  principal or interest, or both.    (Source: P.A. 86-962.)
55 ILCS 5/6-9002
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-9002)Sec. 6-9002.     Resolution.     Such bonds shall be authorized by a  resolution to be adopted by the county board or the board of county  commissioners (as the case may be). Said resolution shall describe the  principal, interest or both, to be paid, fix the details of the refunding  bonds, including the date, denominations, place of payment, rate of  interest and maturity of the bonds so authorized to be issued pursuant to  the provisions of this Division, and such resolution shall provide for the  levy of a tax sufficient to pay principal of and interest on said refunding  bonds as the same mature. The refunding bonds shall bear interest  at a rate not to exceed the maximum rate authorized by the Bond Authorization  Act, as amended at the time of the making of the contract,  payable annually or semiannually, and may mature at such time or times,  (but not more than twenty years from date of bonds) as the resolution shall  fix. Such bonds shall be signed by the Chairman of the Board, be attested  by the County Clerk with the seal of the County attached, and be registered  by the County Treasurer. The coupons attached to said bonds may be executed  with the lithographed or facsimile signature of the County Treasurer.With respect to instruments for the payment of money issued under this  Section or its predecessor either before, on, or after the effective date  of Public Act 86-4, it is and always has been the intention of the General  Assembly (i) that the Omnibus Bond Acts are and always have been  supplementary grants of power to issue instruments in accordance with the  Omnibus Bond Acts, regardless of any provision of this Division or "An Act  to authorize counties having a population of less than two hundred thousand  to issue refunding bonds", approved April 22, 1933, that may appear to be  or to have been more restrictive than those Acts, (ii) that the provisions  of this Section or its predecessor are not a limitation on the  supplementary authority granted by the Omnibus Bond Acts, and (iii) that  instruments issued under this Section or its predecessor within the  supplementary authority granted by the Omnibus Bond Acts are not invalid  because of any provision of this Division or "An Act to authorize counties  having a population of less than two hundred thousand to issue refunding  bonds", approved April 22, 1933, that may appear to be or to have been more  restrictive than those Acts.    (Source: P.A. 86-962; 86-1028.)
55 ILCS 5/6-9003
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-9003)Sec. 6-9003.     Sale or exchange of bonds.     Such refunding bonds may be  exchanged par for par for principal, interest or both, described in the  authorizing resolution, or may be sold at not less than their par value,  and the proceeds of the sale shall be used only for the purpose of paying  such principal, interest or both.    (Source: P.A. 86-962.)
55 ILCS 5/6-9004
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-9004)Sec. 6-9004.     Tax for principal and interest.     It  shall be the duty of the County Clerk, annually, to extend a tax  upon all of the taxable property in the county sufficient to pay maturing  principal of and interest on said refunding bonds. Said tax shall not be  subject to any statutory limitations now or hereafter enacted relative to  taxes which may be extended for county purposes.    (Source: P.A. 86-962.)
55 ILCS 5/Div. 6-10 heading
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 Division 6-10.      Refunding Bonds - Tax Levy
55 ILCS 5/6-10001
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10001)Sec. 6-10001.     Refunding bonds.     The corporate authorities of any county,  without submitting the question to the electors thereof for approval, may  authorize by ordinance the issuance of refunding bonds (1) to refund its  bonds prior to their maturity; (2) to refund its unpaid matured bonds; (3)  to refund matured coupons evidencing interest upon its unpaid bonds; (4) to  refund interest at the coupon rate upon its unpaid matured bonds that has  accrued since the maturity of those bonds; and (5) to refund its bonds  which by their terms are subject to redemption before maturity.The refunding bonds may be made registerable as to principal and may  bear interest at a rate not to exceed 6% annually, payable at  such time and place as may be provided in the bond ordinance.The refunding bonds shall remain valid even though one or more of the  officers executing the bonds ceases to hold his or their offices before the  bonds are delivered.    (Source: P.A. 86-962.)
55 ILCS 5/6-10002
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10002)Sec. 6-10002.     Ordinance.     The ordinance authorizing the refunding  bonds shall prescribe all details thereof and shall provide for the levy  and collection of a direct annual tax upon all the taxable property within  the county sufficient to pay the principal thereof and interest thereon as  it matures. This tax shall be in addition to and exclusive of the maximum  of all other taxes authorized to be levied by the county. Tax limitations  applicable to the county provided by statutes of this State shall not apply  to taxes levied for payment of these refunding bonds. However, taxes  provided to be levied for payment of refunding bonds of any county shall  not be in excess of the constitutional limitation of 75¢ per $100 valuation  unless that excess is authorized by a vote of the people of the county.A certified copy of the bond ordinance shall be filed with the county  clerk of the county and shall constitute the authority for the extension  and collection of refunding bond and interest taxes as required by the  constitution.    (Source: P.A. 86-962.)
55 ILCS 5/6-10003
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10003)Sec. 6-10003.     Exchange or sale of refunding bonds.     The refunding bonds may be exchanged for the bonds to be refunded  on the basis of dollar for dollar for the par value of the bonds, interest  coupons, and interest not represented by coupons, if any. Instead of this  exchange, the refunding bonds may be sold at not less than their par value  and accrued interest. The proceeds received from their sale shall be used  to pay the bonds, interest coupons, and interest not represented by  coupons, if any. This payment may be made without any prior appropriation  therefor under any budget law.Bonds and interest coupons which have been received in exchange or paid  shall be cancelled and the obligation for interest, not represented by  coupons, which has been discharged, shall be evidenced by a written  acknowledgment of the exchange or payment thereof.    (Source: P.A. 86-962.)
55 ILCS 5/6-10004
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10004)Sec. 6-10004.     Form of refunding bonds; maturity.     The  refunding bonds shall be of such form and denomination, payable  at such place, bear such date, and be executed by such officials as may be  provided by the corporate authorities of the county in the bond ordinance.  They shall mature within not to exceed twenty years from their date, and  may be made callable on any interest payment date at par and accrued  interest after notice has been given at the time and in the manner provided  in the bond ordinance.If there is no default in payment of the principal of or interest upon  the refunding bonds, and if after setting aside a sum of money equal to the  amount of interest that will accrue on the refunding bonds, and a sum of  money equal to the amount of principal that will become due thereon, within  the next six months period, the treasurer and comptroller, if there is a  comptroller, of the county shall use the money available from the proceeds  of taxes levied for the payment of the refunding bonds in calling them for  payment, if, by their terms, they are subject to redemption. However, a  county may provide in the bond ordinance that, whenever the county is not  in default in payment of the principal of or interest upon the refunding  bonds and has set aside the sums of money provided in this paragraph for  interest accruing and principal maturing within the next six months period,  the money available from the proceeds of taxes levied for the payment of  refunding bonds shall be used, first, in the purchase of the refunding  bonds at the lowest price obtainable, but not to exceed their par value and  accrued interest, after sealed tenders for their purchase have been  advertised for as may be directed by the corporate authorities thereof.Refunding bonds called for payment and paid or purchased under this  Section shall be marked paid and cancelled.    (Source: P.A. 86-962.)
55 ILCS 5/6-10005
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10005)Sec. 6-10005.     Reduction of tax.     Whenever any refunding bonds are  purchased and cancelled, as provided in Section 6-10004, the taxes  thereafter to be extended for payment of the principal of and the interest  on the remainder of the issue shall be reduced in an amount equal to the  principal of and the interest that would have thereafter accrued upon the  refunding bonds so cancelled. A resolution shall be adopted by the  corporate authorities of the county finding these facts. A certified copy  of this resolution shall be filed with the county clerk, whereupon the  county clerk shall reduce and extend such tax levies in accordance therewith.Whenever refunding bonds are issued, proper reduction of taxes,  theretofore levied for the payment of the bonds refunded and next to be  extended for collection, shall be made by the county clerk upon receipt of  a certificate signed by the treasurer and the comptroller, if there is a  comptroller, of the county, showing the bonds refunded and the tax to be  abated.    (Source: P.A. 86-962.)
55 ILCS 5/6-10006
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10006)Sec. 6-10006.     Sinking fund.     Money which becomes available from taxes  that were levied for prior years for payment of bonds or interest coupons  that were paid or refunded before those taxes were collected, after payment  of all warrants that may have been issued in anticipation of these taxes,  shall be placed in the sinking fund account provided in this Section. It  shall be used to purchase, call for payment, or to pay at maturity  refunding bonds and interest thereon as herein provided.Money received from the proceeds of taxes levied for the payment of the  principal of and interest upon refunding bonds shall be deposited in a  special fund of the county. It shall be designated as the "Refunding Bond  and Interest Sinking Fund Account of ....." This fund shall be faithfully  applied to the purchase or payment of refunding bonds and the interest  thereon as provided in this Division.If the money in this fund is not immediately necessary for the payment  of refunding bonds or if refunding bonds can not be purchased before  maturity, then, under the direction of the corporate authorities of the  county, the money may be invested by the treasurer and the comptroller, if  there is a comptroller, of the county, in bonds or other interest bearing  obligations of the United States or in bonds of the State of Illinois.The maturity date of the securities in which this money is invested  shall be prior to the due date of any issue of refunding bonds of the  investing county. The corporate authorities may sell these securities  whenever necessary to obtain cash to meet bond and interest payments.    (Source: P.A. 86-962.)
55 ILCS 5/6-10007
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10007)Sec. 6-10007.         Procedure by corporate authorities to effectuate  refunding plan. The corporate authorities of a county may take any action  that may be necessary to inform the owners of unpaid bonds regarding the  financial condition of the county, the necessity of refunding its unpaid  bonds and readjusting the maturities thereof in order that sufficient taxes  may be collected to take care of these bonds, and thus re-establish the  credit of the county. The corporate authorities may enter into any  agreement required to prepare and carry out any refunding plan and, without  any previous appropriation therefor under any budget law, may incur and pay  expenditures that may be necessary in order to accomplish the refunding of  the bonds of the county.    (Source: P.A. 86-962.)
55 ILCS 5/6-10008
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-10008)Sec. 6-10008.     Applicability.     This Division shall apply to  any county regardless of the law under which it is organized and operating,  and shall constitute complete authority for issuing refunding bonds as  herein provided without reference to other laws. This Division  shall be construed as conferring powers in addition to, but not as limiting  powers granted under other laws.    (Source: P.A. 86-962.)
55 ILCS 5/Div. 6-11 heading
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 Division 6-11.      Funding Bonds - Counties under 70,000 Population
55 ILCS 5/6-11001
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-11001)Sec. 6-11001.     Resolution directing issuance of bonds.     If no petition  for referendum is filed as provided in this Division, or if such petition  is filed and election is had and a majority of the voters voting on the  proposition vote in favor thereof, then the county board may adopt a  resolution directing the issuance of any or all of the bonds described in  the resolution of intention, fixing the details thereof and levying a tax  to pay the same. The bonds shall mature at such time or times as is fixed  in said resolution but not more than 20 years from the date of such bonds,  shall bear interest at not more than the maximum rate authorized by the  Bond Authorization Act, as amended at the time of the making of the  contract, payable annually or semi-annually, and be payable at such place  or places as shall be fixed in said resolution, and shall be signed in the  manner and by the officials directed by the resolution to sign the same.  The amount of such bonds which may be issued shall not be subject to any  statutory debt limitation. Any of the bonds authorized pursuant to the  provisions of this Division may be exchanged for at least a like par amount of  the claims described in the resolution of intention, or said bonds, or some  of them, may be sold for not less than the par value thereof and the  proceeds used to pay at least a like par amount of such claims, provided,  however, said bonds may be delivered from time to time or all at one time.With respect to instruments for the payment of money issued under this  Section or its predecessor either before, on, or after the effective date  of Public Act 86-4, it is and always has been the intention of the General  Assembly (i) that the Omnibus Bond Acts are and always have been  supplementary grants of power to issue instruments in accordance with the  Omnibus Bond Acts, regardless of any provision of this Division or "An Act  to authorize any county having a population of less than 70,000 to issue  funding bonds and to provide for the validation of claims to be paid by or  from the proceeds of such bonds", filed June 19, 1939, that may appear  to be or to have been more restrictive than those Acts, (ii) that the  provisions of this Section or its predecessor are not a limitation on the  supplementary authority granted by the Omnibus Bond Acts, and (iii) that  instruments issued under this Section or its predecessor within the  supplementary authority granted by the Omnibus Bond Acts are not invalid  because of any provision of this Division or "An Act to authorize any  county having a population of less than 70,000 to issue funding bonds and  to provide for the validation of claims to be paid by or from the proceeds  of such bonds", filed June 19, 1939, that may appear to be or to have been  more restrictive than those Acts.    (Source: P.A. 86-962; 86-1028.)
55 ILCS 5/6-11002
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-11002)Sec. 6-11002.     Extension of tax to pay funding bonds.     It shall  be the duty of such county clerk annually when extending  taxes for other corporate purposes to extend taxes for the purpose of  paying the principal of and interest on the bonds therein authorized as  directed in and by said resolution. Such tax shall not be subject to any  statutory limitation as to rate or amount.    (Source: P.A. 86-962.)
55 ILCS 5/6-11003
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-11003)Sec. 6-11003.     Bondholder's rights.     The holder of any such bonds shall  not be obligated to inquire into the validity of the claims funded, but  shall be entitled to rely upon the proceedings taken pursuant to the  provisions of this Division with respect thereto as establishing the  validity of the items funded and the power to issue such bonds. The  adoption of the resolution, which declares the intention of the county  board to issue funding bonds under the provisions of this Division, shall  be deemed a validation of the claims therein set forth insofar as there may  be any question as to the legality of any or all of the same.    (Source: P.A. 86-962.)