The limitation prescribed in section 1 of this act shall not apply to any indebtedness of any school district incurred in connection with the issuance of funding bonds.
50 ILCS 405/1.3
The limitation prescribed in section 1 of this act shall not apply to any indebtedness of any school district incurred in connection with the issuance of funding bonds
Known as the Local Government Debt Limitation Act
The act spans §§ 50-405-0-01 to 50-405-1-5d (21 sections).
Laws 1941, vol. 2, p. 472.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.