Illinois § 6-10001 Refunding bonds

Illinois Statutes

§ 6-10001 — Refunding bonds

Illinois § 6-10001

JurisdictionIllinois

TopicGOVERNMENT

Ch. 55COUNTIES

Act 55 ILCS 5/Counties Code.

Art.Article 6 - Finance

This text of Illinois § 6-10001 (Refunding bonds) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

55 Ill. Comp. Stat. 6-10001 (2026).

Text

The corporate authorities of any county, without submitting the question to the electors thereof for approval, may authorize by ordinance the issuance of refunding bonds (1) to refund its bonds prior to their maturity;

(2)to refund its unpaid matured bonds;

(3)to refund matured coupons evidencing interest upon its unpaid bonds;

(4)to refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds; and (5) to refund its bonds which by their terms are subject to redemption before maturity. The refunding bonds may be made registerable as to principal and may bear interest at a rate not to exceed 6% annually, payable at such time and place as may be provided in the bond ordinance. The refunding bonds shall remain valid even though one or m

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The corporate authorities of any county, without submitting the question to the electors thereof for approval, may authorize by ordinance the issuance of refunding bonds (1) to refund its bonds prior to their maturity; (2) to refund its unpaid matured bonds; (3) to refund matured coupons evidencing interest upon its unpaid bonds; (4) to refund interest at the coupon rate upon its unpaid matured bonds that has accrued since the maturity of those bonds; and (5) to refund its bonds which by their terms are subject to redemption before maturity. The refunding bonds may be made registerable as to principal and may bear interest at a rate not to exceed 6% annually, payable at such time and place as may be provided in the bond ordinance. The refunding bonds shall remain valid even though one or more of the officers executing the bonds ceases to hold his or their offices before the bonds are delivered.