Illinois Compiled Statutes 70 ILCS 2205/16.1 – No issue of bonds of the district shall be valid (except bonds to …
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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 to the voters of the district in accordance with the general election law and has been approved by a majority of those voting on the proposition.
The proposition shall be substantially in the following form:
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Shall bonds for the purpose
of….(state purpose), in the YES
sum of $….(insert amount), be ———————–
issued by the board of trustees NO
of the….(insert name of district)?
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The proposition shall be substantially in the following form:
————————————————————–
Shall bonds for the purpose
of….(state purpose), in the YES
sum of $….(insert amount), be ———————–
issued by the board of trustees NO
of the….(insert name of district)?
————————————————————–