(70 ILCS 1815/23) (from Ch. 19, par. 823)
Sec. 23.
The bonds or certificates shall be sold by the corporate authorities
of the Port District in such manner as the Board determines except that
if issued to bear interest at the maximum rate permitted in "An Act
to authorize public corporations to issue
bonds, other evidences of indebtedness and tax anticipation warrants subject to interest
rate limitations set forth therein", approved May 26, 1970, as now or hereafter
amended,
the bonds shall be sold for not less than par and accrued interest, and
except that the selling price of bonds bearing interest at a rate less than
the maximum rate permitted in that Act
shall be such that the interest cost to the District of the money received
from the bond sale shall not exceed such maximum rate annually computed
to absolute maturity of such bonds or certificates
according to standard tables of bond values.
(Source: P.A. 82-902.)
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