Illinois § 17-400 Conditions prohibiting municipal system participation

Illinois Statutes

§ 17-400 — Conditions prohibiting municipal system participation

Illinois § 17-400

JurisdictionIllinois

TopicREGULATION

Ch. 220UTILITIES

Act 220 ILCS 5/Public Utilities Act.

Art.Article XVII - Electric Cooperatives And Municipal Systems

This text of Illinois § 17-400 (Conditions prohibiting municipal system participation) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

220 Ill. Comp. Stat. 17-400 (2026).

Text

At no time shall a municipal system make an election under Sections 17-200 or 17-300 of this Article if such election places at risk:

(1)Any status held by the municipal system or municipal corporation or political subdivision which provides exemption from State or federal tax statutes; or (2) Any debt, credit instrument or other contractual financial obligation held by, or on behalf of the municipal system which was entered into under an exemption from State or federal tax statutes.

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At no time shall a municipal system make an election under Sections 17-200 or 17-300 of this Article if such election places at risk: (1) Any status held by the municipal system or municipal corporation or political subdivision which provides exemption from State or federal tax statutes; or (2) Any debt, credit instrument or other contractual financial obligation held by, or on behalf of the municipal system which was entered into under an exemption from State or federal tax statutes.