§ 3A-15

Illinois § 3A-15

• Jurisdiction: Illinois
• Topic: EDUCATION
• Ch. 110: HIGHER EDUCATION
• Act 110 ILCS 805/: Public Community College Act.
• Art.: Article IIIa - Bonds

Text

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. The tax shall be levied and collected in like manner as the general taxes for the district and shall not be included within any limitation of rate for general purposes as now or hereafter provided by law but shall be excluded therefrom and be in addition thereto and in excess thereof. A certified copy of the bond resolution shall be filed with the county clerk of the county in which the district or any portion thereof is situated, and shall constitute the authority for the extension and collection of refunding bond and interest taxes as required by the constitution.

Legislative History

(Source: P.A. 78-669 .)