§ 6-516

Illinois § 6-516

• Jurisdiction: Illinois
• Topic: TRANSPORTATION
• Ch. 605: ROADS AND BRIDGES
• Act 605 ILCS 5/: Illinois Highway Code.
• Art.: Article 6 - Administration Of Township And District Roads

Text

The resolution authorizing the 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 road district sufficient to pay the principal thereof and interest thereon as it matures. This tax shall be in addition to and exclusive of the maximum of all other taxes authorized to be levied by the road district. Tax limitations applicable to the road district provided by other statutes of this State shall not apply to taxes levied for payment of these refunding bonds. A certified copy of the bond resolution shall be filed with the county clerk of the county in which the road 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: Laws 1959, p. 196.)