(70 ILCS 1850/10) (from Ch. 19, par. 410)
Sec. 10.
All bonds, whether general obligation or revenue, 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 8 or 9, whichever may be applicable, 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 8 or 9, whichever may be applicable,
computed to absolute maturity of such bonds according to standard tables of
bond values.
(Source: Laws 1961, p. 2975.)
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