(70 ILCS 1820/9) (from Ch. 19, par. 859)
Sec. 9.
All revenue bonds shall be payable solely from the revenues or
income to be derived from the terminals, terminal facilities, airfields,
airports or port facilities or any part thereof. The bonds may bear such
date or dates and may mature at such time or times not exceeding 40 years
from their respective dates, all as may be provided in the ordinance authorizing
their issuance. All bonds, whether revenue or general obligation, may bear
interest at such rate or rates not to exceed that 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. Such interest may
be paid semiannually. All such bonds may be in such form, may carry such
registration privileges, may be executed in such manner, may be payable
at such place or places, may be made subject
to redemption in such manner and upon such terms, with or without premium
as is stated on the face thereof, may be authenticated in such manner and
may contain such terms and covenants, all as may be provided in the ordinance
authorizing issuance.
The holder or holders of any bonds or interest coupons appertaining
thereto issued by the District may bring civil actions to compel the
performance and observance by the District or any of its officers,
agents or employees of any contract or covenant made by the District
with the holders of such bonds or interest coupons and to compel the
District and any of its officers, agents or employees to perform any
duties required to be performed for the benefit of the holders of any
such bonds or interest coupons by the provision in the ordinance
authorizing their issuance, and to enjoin the District and any of its
officers, agents or employees from taking any action in conflict with
any such contract or covenant, including the establishment of charges,
fees and rates for the use of facilities as hereinafter provided.
Notwithstanding the form and tenor of any bond, whether revenue or
general obligation, and in the absence of any express recital on the
face thereof that it is nonnegotiable, all such bonds shall be
negotiable instruments. Pending the preparation and execution of any
such bonds, temporary bonds may be issued with or without interest
coupons as may be provided by ordinance.
(Source: P.A. 82-902.)
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