(70 ILCS 2905/5-3) (from Ch. 42, par. 505-3)
Sec. 5-3. No issue of bonds of the district shall be valid (except bonds to refund an existing bonded indebtedness) unless the proposition of issuing the bonds has first been submitted at a regular election in accordance with the general election law and has been approved by a majority of the voters of the district voting on the proposition.
The proposition shall be substantially in the following form: --------------------------------------------------------------
Shall
bonds
for
the
purposeof....
(state
purpose),
in
YESthe
sum
of
$....
(insert
amount),
----------------------be
issued
by
The....
(insertname
of
district)?
NO--------------------------------------------------------------
(Source: P.A. 81-1489.)
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Last modified: February 18, 2015