ARTICLE III. REVENUE BONDS
Pursuant to the authority given, home rule units under Article VII of the 1970 Constitution of Illinois, the President and Board of Trustees hereby authorizes the Village of. Mettawa to issue revenue bonds for financing of the construction, acquisition, reconstruction, improvement, betterment or extension of any of the projects which may be financed with the issuance of municipal bonds, the interest on which is exempt from Federal income tax under the provisions of Section 103 of the United States Internal Revenue Code; which projects may hereafter be declared and determined to be public purposes and for the public safety, benefit and welfare of the residents of the Mettawa and its environs. The Village of Mettawa hereby and herewith retains the right and the power to expand the types and classes of projects which may be so financed to the full extent allowed under the United States Internal Revenue Code, so that the Village of Mettawa in making this adoption shall not be restricted to financing those capital projects itemized in the Illinois Compiled Statutes.
(Ord. 493, passed 1-21-2003)