Sec.[Section] 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That the County Commissioners of Cook County be, and they are hereby authorised to borrow upon the faith and pledge of said County, a sum not exceeding ten thousand dollars, at a rate of interest not exceeding eight
per cent, for a term not exceeding twenty years, and to issue bonds or scrip therefor
under the seal of the County Commissioners’ Court signed by the County Commissioners of said County, and countersigned by the Clerk of the County Commissioners’ Court; any sum borrowed under the authority of this act to be applied by the County Commissioners for the use and benefit of said County; for the repayment of any sums so borrowed with the interest upon the same, the said
County Commissioners are hereby authorized to pledge the revenues accruing to the said County.
Sec. 2. The County Commissioners’ Courts of Washington and Clinton Counties are hereby vested with the same power and authority conferred by the act
upon the County Commissioners’ Court of Cook county, and are hereby required to expend such money as they may borrow, in erecting Court
houses and jails in the several counties.
Sec. 3. Should the said counties of Washington and Clinton not be able within six months after the passage of this act to negotiate a
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sufficient loan, then and in that case, it shall be lawful for the County Commissioners’ Court of said counties to levy a tax not exceeding three per centum per annum upon the value of the taxable property nam owned therein over and above the tax for ordinary revenue purposes, for the purpose
of erecting and completing said buildings.
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No 85
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Senate No. 87.
A Bill for An act to authorise the County Commissioners Courts of the Counties of Cook, Washington and Clinton, to effect loans
A Bill for An act to authorise the County Commissioners Courts of the Counties of Cook, Washington and Clinton, to effect loans
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12/21/1838
12/21/1838
2
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01/29/1839
01/29/1839
3
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02/15/1839
02/15/1839
Enrolled
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Engrossed
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01/29/1839
01/29/1839
passed
Handwritten Document, 2 page(s), Folder 350, SB 32, GA Session 11-1, Illinois State Archives [Springfield, IL] ,