Sec. 19-3.5. Flood-damaged building.

120 words·~1 min read·/il/chapter-105/act-5/19-3-5

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 19-3.5. Flood-damaged building. Martinsville Community Unit School District 3C is authorized to issue bonds in not to exceed the amount of $4,000,000 for the purpose of paying the cost of acquiring and improving a school site and building and equipping a new school building on the site to replace all or a portion of a school building closed by the regional superintendent of schools pursuant to Section 3-14.22 of this Code because of flood damage. The replacement building may be larger than the size of and offer more functions than the school building being replaced.

Bonds issued pursuant to this Section may be issued without referendum and shall mature not more than 25 years from the date of issuance.