However, if any bonds are issued to bear interest at the maximum rate of interest allowed by Section 10, the bonds shall be sold for not less than par and accrued interest. The selling price of bonds bearing interest at a rate less than the maximum allowable interest rate per annum shall be such that the interest cost to the Council of the money received from the bond sale shall not exceed the maximum annual interest rate allowed by Section 10 computed to absolute maturity of such bonds according to standard tables of bond values.
50 ILCS 30/12
All bonds, whether general obligation or revenue, may be issued and sold by each Exhibition Council in such manner as the Council shall determine
Known as the Exhibition Council Act
The act spans §§ 50-30-1 to 50-30-9-1 (28 sections).
Laws 1967, p. 585.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.