Illinois Code § 70 ILCS 1830/24.1

All revenue bonds shall be issued and sold by the Board in such manner
Open in Lexace · Ask the AI about this section
as the Board shall determine. However, if any bonds are issued to bear
interest at the maximum rate of interest allowed by Section 23.1 of this
Act, 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 District of the money received from the bond sale shall not exceed the
maximum annual interest rate allowed by Section 23.1 of this Act, computed
to absolute maturity of such bonds according to standard tables of bond
values.

‹ Prev All Illinois sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.