(50 ILCS 450/5) (from Ch. 85, par. 925)
Sec. 5.
The resolution
authorizing the issuance of such bonds shall specify the
total amount of bonds to be issued, the form and denomination of the bonds,
the date they are to bear, the place where they are payable, the date or
dates of maturity, which shall not be more than 20 years after the date the
bonds bear, the rate of interest which shall not exceed the 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 and
the dates on which interest is payable.
The tax authorized to be levied and collected under this Act shall be
extended annually against all the taxable property within the county or
municipality, as the case may be, at such a rate that the proceeds of the
tax, when combined with the rental income derived from the medical service
facility, will be sufficient to pay the principal of the bonds at maturity
and to pay the interest thereon as it falls due.
(Source: P.A. 82-902.)
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