Illinois General Assembly - Illinois Compiled Statutes

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105 ILCS 5/19-8

(105 ILCS 5/19-8)

(from Ch. 122, par. 19-8)

Sec. 19-8.

Bonds
to pay claims.

Any school district or non-high district operating under general law or
special charter having a population of 500,000 or less is authorized to
issue bonds for the purpose of paying orders issued for the wages of
teachers, for the payment of claims against any such district, or for providing funds to effect liquidation or defeasance of the obligations of a Financial Oversight Panel pursuant to the provisions of Section 1H-115 of this Code.

Such bonds may be issued in an amount, including existing indebtedness,
in excess of any statutory limitation as to debt.

(Source: P.A. 97-429, eff. 8-16-11.)