Illinois Bond-Refunding is a process of refinancing the state's existing bond debt to reduce interest costs. Bond-refunding typically involves the issuance of a new bond to replace the old bond, with a lower interest rate. The new bond pays off the old bond, providing a refund to the state or municipality. The state or municipality then uses the refund to lower its short-term or long-term debt. There are two primary types of Illinois Bond-Refunding: traditional refunding and advanced refunding. Traditional refunding involves the replacement of an existing bond with a new one at a lower interest rate. Advanced refunding is a more complex form of bond-refunding that involves the sale of a new bond before the maturity date of the existing bond. The proceeds from the sale of the new bond are used to purchase a US Treasury security, which is then used to pay off the existing bond. This allows for a refund to the state or municipality and a lower interest rate on the new bond.
Illinois Bond-Refunding
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FAQ
Bond is an incentive for a defendant to appear at his or her court date. If a person does not appear, the Cook County bail bondsman will capture the individual and demand repayment. This is why it's very important to make sure that you appear at all of your court dates and appointments.
From 9 a.m. to p.m. family and friends of individuals in custody can post bond at the Cook County Jail with credit card, cash or certified check. The bonding facility inside the Department of Corrections is managed by the Clerk of the Circuit Court.
The decision of bond refunding involves two major questions ? (1) is it economically feasible to call back the outstanding bonds at the current interest and replace them with the new issue; and (2) would the expected value of the firm improve further if the bond refunding is done on a later date.
If they return to court as promised, their posted bail will be returned to them minus any fines or fees. However, if they fail to appear, then the money will be forfeited to the court.
?After an order is entered to release bond money, it usually takes ten (10) business days to generate the refund check. All checks are mailed. Make sure that our office has the correct address on file. The priority for a refund of bonds is established in General Order 90-26.
?After an order is entered to release bond money, it usually takes ten (10) business days to generate the refund check.
When will I get my bond refund? A customer can expect a bond refund within four to six weeks from the final disposition. The Criminal Division will prepare the bond refund documents, which are then forwarded to the Accounting Department to be audited and processed. How much is bond for my relative or friend?