(70 ILCS 2305/23) (from Ch. 42, par. 296.3)
Sec. 23.
Whenever any ordinance providing for any improvement shall in
pursuance of authority conferred in this Act provide for the payment of the
same, either in whole or in part, by special assessment, said board of
trustees may issue bonds to anticipate the collection of the second and
succeeding installments of said assessments payable only out of such
assessment when collected and bearing interest at the same rate as provided
upon the installments of such assessments. Said bonds shall be issued and
subject to call and retirement in the same manner as provided in Divisions
1 and 2 of Article 9 and Division 87 of Article 11 of the "Illinois
Municipal Code", approved May 29, 1961, as heretofore or hereafter
amended.
(Source: Laws 1963, p. 877.)
|