(55 ILCS 100/2) (from Ch. 96 1/2, par. 4002)
Sec. 2.
Every such county shall have full power to acquire by dedication,
gift, lease, contract or purchase all property, sites, facilities and
rights within such county necessary to process coal in the manner
authorized by this Act and to pay for the purchase or other acquisition
and construction of such plant and system by the issuance of revenue bonds
payable solely from the revenue derived from the operation thereof. Such
bonds shall bear interest at the rate of not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended
at the time of the making of the contract, payable semiannually, and shall
mature within twenty years from
the date thereof. Each such county is also authorized to issue, sell and
transfer warehouse receipts for such coal and prepared fuel and the by
products thereof.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
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