Illinois § 801-30

Illinois Statutes

§ 801-30

Illinois § 801-30

JurisdictionIllinois

TopicGOVERNMENT

Ch. 20EXECUTIVE BRANCH

Act 20 ILCS 3501/Illinois Finance Authority Act.

Art.Article 801 - General Provisions

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Bluebook

20 Ill. Comp. Stat. 801-30 (2026).

Text

The Authority possesses all the powers as a body corporate necessary and convenient to accomplish the purposes of this Act, including, without any intended limitation upon the general powers hereby conferred, the following:

(a)to enter into loans, contracts, agreements and mortgages in any manner connected with any of its corporate purposes and to invest its funds;

(b)to sue and be sued;

(c)to employ agents and employees and independent contractors necessary to carry out its purposes and to fix their compensation, benefits and terms and conditions of their employment;

(d)to have and use a common seal and to alter the same at pleasure;

(e)to adopt all needful ordinances, resolutions, bylaws, rules and regulations for the conduct of its business and affairs and for the management and us

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The Authority possesses all the powers as a body corporate necessary and convenient to accomplish the purposes of this Act, including, without any intended limitation upon the general powers hereby conferred, the following: (a) to enter into loans, contracts, agreements and mortgages in any manner connected with any of its corporate purposes and to invest its funds; (b) to sue and be sued; (c) to employ agents and employees and independent contractors necessary to carry out its purposes and to fix their compensation, benefits and terms and conditions of their employment; (d) to have and use a common seal and to alter the same at pleasure; (e) to adopt all needful ordinances, resolutions, bylaws, rules and regulations for the conduct of its business and affairs and for the management and use of the projects developed, constructed, acquired and improved in furtherance of its purposes; (f) to have and exercise all powers and be subject to all duties otherwise necessary to effectuate the purposes of this Act. If any of the powers set forth in this Act are exercised within the jurisdictional limits of any municipality, all ordinances of the municipality shall remain in full force and effect and shall be controlling.