Illinois § 5-2.5
Full text of Illinois Illinois Compiled Statutes § 5-2.5, with citation guidance and answers to common questions.
§ 5-2.5.
Bonds as indebtedness. Notwithstanding any provision of law to the contrary: (a) Any bonds issued under Section 5-2 of this Act shall not be considered indebtedness under any law including, but not limited to, Section 8-5-1 of the Illinois Municipal Code, and such bonds may be issued, regardless of any limitations on indebtedness in law, if the conditions of subsection (b) are met. (b) Bonds shall not be considered indebtedness and may be issued regardless of any limitations on indebtedness under subsection (a) if: (1) the bond or bonds are issued after approval by voters at a regularly scheduled election; (2) the bond or bonds do not exceed a principal amount of $11,000,000 in the aggregate; (3) on or before the date of sale of the bond or bonds, the board of trustees of the public library and the corporate authorities determine, by ordinance or resolution, that the library project funded by the bond or bonds is needed; and (4) the bond or bonds are issued prior to November 1, 2020. (Source: P.A. 99-735, eff. 8-5-16.)
Frequently Asked Questions About Illinois § 5-2.5
What does Illinois Compiled Statutes § 5-2.5 cover?
Section 5-2.5 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 5-2.5?
A common citation format is "Illinois Compiled Statutes § 5-2.5" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 5-2.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.