Illinois Statutes
§ 26-45 — Obligations of Board
Illinois·Topic EDUCATION·Ch. 110 HIGHER EDUCATION·Act 110 ILCS 681/ Northeastern Illinois University Revenue Bond Law.·Art. Article 26 -
All bonds issued pursuant to this Article shall be obligations of the Board payable only in accordance with the terms thereof and shall not be obligations general, special or otherwise, of the State of Illinois. Such bonds shall not constitute a debt, legal or moral, of the State of Illinois, and shall not be enforceable against the State, nor shall payment thereof be enforceable out of any funds of the Board, or of the University, other than the income and revenues pledged and assigned to, or in trust for the benefit of, the holder or holders of such bonds.
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Illinois § 26-45 (Obligations of Board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 89-4, eff. 1-1-96.)
Nearby Sections
14
§ 26-1
Short title§ 26-10
Powers§ 26-12
Eminent domain§ 26-15
Issuance of Bonds§ 26-20
Security of Bonds§ 26-25
Enforcement of Contract§ 26-30
Moneys of the Board§ 26-35
Validity of Bonds§ 26-45
Obligations of Board§ 26-5
Definitions§ 26-50
Bonds as Legal Investments§ 26-55
§ 26-55