The School Law of Illinois As Amended by the Fortyninth General Assembly
Cambridge Scholars Publishing, 2012 - 164 pages
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: 7. Whereas, An emergency exists, this Act shall be in full force and effect from and after its passage. Approved and in force May 10, 1901. Bonds. An Act giving to the board of education of any school district having a population of less than 100,000 inhabitants, and existing by] virtue of any special charter and governed by any or all such special charters, the power to borrow money for certain purposes and issue negotiable coupon bonds therefor, and providing that the propositin or question to borrow money and issue such bonds shall be submitted to the voters of such school district. Section 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly: That the board of education of any school district having a population of less than 100,000 inhabitants, and existing by virtue of any special charter and governed by any or all such special charters, is hereby empowered and authorized to borrow money for the purpose of building schoolhouses, or repairing or altering any schoolhouse already erected, or purchasing schoolhouse sites or purchasing school grounds adjacent to or adjoining any school- house site, or separated therefrom only by a public street or way, and to issue its negotiable coupon bonds therefor, in such form and such denominations, payable at such place and at such time or times (not exceeding twenty years from date of issuance) and bearing interest at such rates as said board of education may by resolution prescribe. Such bonds shall be in denominations of not less than $100.00 nor more than $1,000.00, and shall bear interest at a rate not to exceed five per centum per annum, payable semi-annually: Provided, that no money shall be borrowed or bonds issued unless the proposition or question to borrow money and issue bonds ...
What people are saying - Write a review
We haven't found any reviews in the usual places.