65 ILCS 5/9-2-128
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 9 - Local Improvements

 (from Ch. 24, par. 9-2-128)Sec. 9-2-128.         The bonds authorized in Section 9-2-127 may be in the  following form:    United States of America NumberDollars ........ State of IllinoisCounty of .... .... of .... IMPROVEMENT BONDKNOW ALL MEN BY THESE PRESENTS, That the .... of ...., in 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 ($....) on  the .... day of ....,...., but subject to prepayment at the par value  hereof at any time as hereinafter provided, together with interest thereon  at the rate of .... per cent (....%) per annum, from date hereof until  paid, payable on the .... day of ....,...., and annually thereafter on the  .... day of .... in each year on presentation and surrender of the interest  coupons hereto attached.Both principal and interest on this bond are payable at the office of  the treasurer of said .... of ...., in lawful money of the United States of  America.This bond is issued in exchange for part of the vouchers issued in  payment of the work done under Special Assessment No. ...., levied for the  purpose of ...., which assessment bears interest from the .... day of  ....,...., and this bond and the interest thereon are payable solely out of  the installments of the assessment when collected.THIS BOND IS ONE OF A SERIES OF BONDS WHICH ARE TO BE PAID AND REDEEMED  IN NUMERICAL ORDER AND NOT ON A PRO-RATA BASIS.The bonds in the series, aggregating .... Dollars ($....), are numbered  from .... to .... inclusive, bonds numbered .... to .... being of the  denomination of $.... each, and bonds numbered .... to .... being of the  denomination of $.... each.By the terms of the statute and ordinance authorizing these bonds,  whenever there shall be sufficient funds in the hands of the treasurer of  the .... of ...., after the payment of all interest due on the bonds, and  after the establishment of such reserve, if any, as the treasurer in his  discretion may deem advisable to pay interest to become due at the next  interest coupon date, to prepay one or more of the bonds, then it is the  duty of such treasurer to call and pay such bond or bonds. The treasurer  shall cause notice of such call for prepayment to be published in some  newspaper of general circulation in the .... of ...., Illinois, not less  than 5 nor more than 30 days prior to the date fixed for prepayment. If no  newspaper is published in the municipality, such notice shall be published  in a newspaper with a general circulation in the municipality, and if there  be no such newspaper, such notice shall be posted in at least 3 prominent  places within the municipality. This bond will cease to bear interest on  and after the date so fixed for prepayment. The presentation of the bond  will waive the necessity of giving notice of its call for payment. Bonds  shall be paid in numerical order beginning with the lowest numbered  outstanding bond.IN TESTIMONY WHEREOF, the .... of .... has caused its corporate seal to  be hereto affixed, and this bond to be signed by the officers prescribed by  ordinance, and the coupons hereto attached to be signed by such officials  by their original or facsimile signatures, which officials, if facsimile  signatures are used, do adopt by the execution hereof as and for their  proper signatures their respective facsimile signatures appearing on the  coupons, all as of the .... day of ....,.....  ........    SEALInterest coupons which may be attached to bonds authorized in this  section may be in the following form:  Coupon No. ....$....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,The .... of .... in the County of ...., State of Illinois, will pay to  BEARER .... Dollars ($....), out of funds realized from the collections of  Special assessment No. .... of the municipality, at the office of the  treasurer of the municipality, for interest due on that day on its  improvement bond dated as of the .... day of ....,....  BOND NO. .....    (Source: Laws 1961, p. 576.)