Illinois § 825-60 Financially Distressed City Assistance Program Limitation

Illinois Statutes

§ 825-60 — Financially Distressed City Assistance Program Limitation

Illinois·Topic GOVERNMENT·Ch. 20 EXECUTIVE BRANCH·Act 20 ILCS 3501/ Illinois Finance Authority Act.·Art. Article 825 - Other Powers

In addition to the bonds authorized to be issued under Sections 801-40(w), 825-65(e), 830-25 and 845-5, the Authority may have outstanding at any time, bonds for the purposes enumerated in Sections 825-20 through 825-60 in an aggregate principal amount that shall not exceed $50,000,000. Such bonds shall not constitute an indebtedness or obligation of the State of Illinois, and it shall be plainly stated on the face of each bond that it does not constitute such an indebtedness or obligation but is payable solely from the revenues, income or other assets of the Authority pledged therefor.

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In addition to the bonds authorized to be issued under Sections 801-40(w), 825-65(e), 830-25 and 845-5, the Authority may have outstanding at any time, bonds for the purposes enumerated in Sections 825-20 through 825-60 in an aggregate principal amount that shall not exceed $50,000,000. Such bonds shall not constitute an indebtedness or obligation of the State of Illinois, and it shall be plainly stated on the face of each bond that it does not constitute such an indebtedness or obligation but is payable solely from the revenues, income or other assets of the Authority pledged therefor.

Illinois § 825-60 (Financially Distressed City Assistance Program Limitation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.