Current through Public Act 190 of the 2024 Legislative Session
Section 380.1362 - Bonds; issuance; conditions prescribed by school district board(1) The board of a school district that votes to borrow a sum of money may issue the bonds of the district.(2) The board shall prescribe all of the following:(a) The form of the bonds.(b) The amount of the bonds, which shall not be less than $50.00 each.(c) The time for payment of the bonds.(d) The interest rates on the bonds.(e) The manner in which the president and secretary of the board shall execute the bonds.