Article

Bonds

110 ILCS 805/3A-1
110 ILCS 805/3A-2
110 ILCS 805/3A-3— All bonds issued under this Act, before being issued, negotiated and sold, shall be registered, numbered and countersigned by the treasurer who receives the taxes of the district
110 ILCS 805/3A-4— All moneys borrowed under the authority of this Act, shall be paid to the treasurer of the district
110 ILCS 805/3A-5— Whenever any district is authorized to issue bonds, the secretary shall file in the office of the county clerk of each county in which any portion of the district is situated a certified copy of the resolution providing for their issuance and levying a tax to pay them
110 ILCS 805/3A-6— Any community college district is authorized to issue bonds for the purpose of paying orders issued for the wages of teachers, or for the payment of claims against any such district
110 ILCS 805/3A-7
110 ILCS 805/3A-8— Any district which has complied with Section 3A-7 and which is authorized to issue bonds under Sections 3A-6 and 3A-7 shall adopt a resolution specifying the amount of indebtedness to be funded, whether for the purpose of paying claims, or for paying teachers' orders
110 ILCS 805/3A-9
110 ILCS 805/3A-10— Any bonds issued under Sections 3A-6 to 3A-8, inclusive, may be exchanged par for par for claims or unpaid orders for wages of teachers, or both, or may be sold and the proceeds received used to pay such claims or orders
110 ILCS 805/3A-11
110 ILCS 805/3A-12
110 ILCS 805/3A-13— Refunding bonds
110 ILCS 805/3A-14— The refunding bonds may be made registerable as to principal and may 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 at such time and place as may be provided in the bond resolution
110 ILCS 805/3A-15— The resolution authorizing 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 community college district sufficient to pay the principal thereof and interest thereon as it matures
110 ILCS 805/3A-16— 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, or they may be sold at not less than their par value and accrued interest
110 ILCS 805/3A-17— 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 board of the community college district in the bond resolution
110 ILCS 805/3A-18
110 ILCS 805/3A-19
110 ILCS 805/3A-20
110 ILCS 805/3A-21— Money received from the proceeds of taxes levied for payment of the principal of and interest upon refunding bonds shall be deposited in a special fund of the community college district, designated as the "Refunding Bond and Interest Sinking Fund Account of ...."
110 ILCS 805/3A-22
110 ILCS 805/3A-23— Sections 3A-13 through 3A-23 apply to any district, regardless of the population of the district and of the law under which it is organized and operating, and constitute complete authority for issuing refunding bonds as therein provided without reference to other laws
110 ILCS 805/3A-24
110 ILCS 805/3A-25— In Sections 3A-25 through 3A-29, "exhibition facility" means a building or stadium constructed to be used primarily for athletic spectator sports and not facilities built primarily for physical education instruction
110 ILCS 805/3A-26— Any board is authorized to: a
110 ILCS 805/3A-27— Whenever bonds are issued pursuant to Sections 3A-25 through 3A-29, the board must establish charges or fees for the use of the exhibition facility to pay the principal and interest on the bonds
110 ILCS 805/3A-28
110 ILCS 805/3A-29— Members of a board issuing bonds pursuant to Sections 3A-25 through 3A-29 incur no personal liability thereby