(70 ILCS 1855/12) (from Ch. 19, par. 462)
Sec. 12.
All revenue bonds shall be issued and sold by the Board in such
manner as the Board shall determine. However, if any bonds are issued to
bear interest at the maximum rate of interest allowed by Section 11, the
bonds shall be sold for not less than par and accrued interest. The selling
price of bonds bearing interest at a rate less than the maximum allowable
interest rate per annum shall be such that the interest cost to the
District of the money received from the bond sale shall not exceed the
maximum annual interest rate allowed by Section 11, computed to absolute
maturity of such bonds according to standard tables of bond values.
(Source: Laws 1961, p. 2993.)
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