Illinois § 20-27 Bonds; nature of indebtedness

Illinois Statutes

§ 20-27 — Bonds; nature of indebtedness

Illinois § 20-27

JurisdictionIllinois

TopicGOVERNMENT

Ch. 70SPECIAL DISTRICTS

Act 70 ILCS 200/Civic Center Code.

Art.Article 20 - Bloomington Civic Center

This text of Illinois § 20-27 (Bonds; nature of indebtedness) 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

70 Ill. Comp. Stat. 20-27 (2026).

Text

Under no circumstances shall any bonds issued by the Authority under Section 20-25 be or become an indebtedness or obligation of the State of Illinois or of any other political subdivision of or municipality within the State, nor shall any such bond be or become an indebtedness of the Authority within the purview of any constitutional limitation or provision, and it shall be plainly stated on the face of each such bond that it does not constitute such an indebtedness or obligation but is payable solely from the revenues or income as aforesaid.

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Under no circumstances shall any bonds issued by the Authority under Section 20-25 be or become an indebtedness or obligation of the State of Illinois or of any other political subdivision of or municipality within the State, nor shall any such bond be or become an indebtedness of the Authority within the purview of any constitutional limitation or provision, and it shall be plainly stated on the face of each such bond that it does not constitute such an indebtedness or obligation but is payable solely from the revenues or income as aforesaid.