Chapter 30 — FINANCE

(30 ILCS 365/2) (from Ch. 17, par. 6802) Sec. 2. For the purposes of this Act, unless the context otherwise requires, the terms used herein shall have the following meanings ascribed to them: (a) "Interest-bearing commercial paper" means any interest-bearing negotiable instrument…

(30 ILCS 365/3) (from Ch. 17, par. 6803) Sec. 3. Authority to issue paper. Whenever a unit of local government or school district is authorized by law to issue bonds or notes, such unit of local government or school district is hereby authorized to issue other forms of interest-b…

(30 ILCS 370/1) (from Ch. 29, par. 33a) Sec. 1. In addition to the right, power and authority granted by any Act, all municipal corporations, political subdivisions and units of local government of this State (herein called municipalities) are authorized to apply for and accept g…

(30 ILCS 370/1.1) (from Ch. 29, par. 33a.1) Sec. 1.1. Short title. This Act may be cited as the Public Works Finance Act. (Source: P.A. 86-1324.)

(30 ILCS 375/0.01) (from Ch. 85, par. 840) Sec. 0.01. Short title. This Act may be cited as the Local Government Debt Offering Act. (Source: P.A. 86-1324.)

(30 ILCS 375/1) (from Ch. 85, par. 841) Sec. 1. It is the intent of this Act to facilitate, through State technical and advisory assistance, the marketing of local government bonds and other long-term obligations at the lowest possible net interest cost. (Source: P.A. 77-1504.)…

(30 ILCS 375/2) (from Ch. 85, par. 842) Sec. 2. (a) "Local government" means a county, city, village, town, township, school district, and other special-purpose district, authority, or public corporation within the state and authorized by the state to issue bonds and other long-t…

(30 ILCS 375/3) Sec. 3. (Repealed). (Source: P.A. 77-1504. Repealed by P.A. 102-276, eff. 8-6-21.)

(30 ILCS 375/4) (from Ch. 85, par. 844) Sec. 4. At the request of the governing body of any local government, the Department is authorized to review a proposed debt issue and to render an advisory opinion based upon the facts concerning the proposed issue. Any request for an advi…

(30 ILCS 375/5) (from Ch. 85, par. 845) Sec. 5. At the request of the governing body of any local government, the Department is authorized to direct the State Treasurer to market such local government's security offerings by preparing bond issues for sale, advertising for sealed …

(30 ILCS 375/6) (from Ch. 85, par. 846) Sec. 6. The Department shall have the following powers and duties: (1) To require such reports from local governments as will enable it adequately to provide the technical and advisory assistance authorized by this Act and to perform the re…

(30 ILCS 375/7) (from Ch. 85, par. 847) Sec. 7. If any provision of this Act or application thereof to any person or circumstance is held invalid, such invalidity does not affect other provisions or applications of this Act which can be given without the invalid application or pr…

(30 ILCS 375/8) (from Ch. 85, par. 848) Sec. 8. This Act does not apply to any home rule unit. (Source: P.A. 77-1504.)

(30 ILCS 385/0.01) (from Ch. 121, par. 101-90) Sec. 0.01. Short title. This Act may be cited as the Motor Fuel Tax Fund Bond Act. (Source: P.A. 86-1324.)

(30 ILCS 385/1) (from Ch. 121, par. 102-1) Sec. 1. As used in this Act: (a) "Governmental unit" means any county, township, road district, city, village or incorporated town. (b) "Highway" means a highway as defined in the Illinois Highway Code. (c) "Road district" means a road d…

(30 ILCS 385/2) (from Ch. 121, par. 102-2) Sec. 2. The governing body of a governmental unit may issue bonds of the governmental unit for the purpose of constructing or improving highways of the governmental unit. The governing body of the governmental unit, and in the case of to…

(30 ILCS 385/3) (from Ch. 121, par. 102-3) Sec. 3. The governing body of the governmental unit shall issue the bonds of the governmental unit not exceeding the amount named in the resolution. Such bonds shall become due not more than 30 years after their date, shall be in denomin…

(30 ILCS 385/4) (from Ch. 121, par. 102-4) Sec. 4. The bonds authorized by this Act shall be sold and the proceeds used solely for the specified purpose. At the time or before issuing any such bonds, the governing body shall adopt a resolution fixing the details of such bonds and…

(30 ILCS 390/1) (from Ch. 122, par. 1201) Sec. 1. This Act shall be known and may be cited as the "School Construction Bond Act". (Source: P.A. 78-220.)

(30 ILCS 390/10) (from Ch. 122, par. 1210) Sec. 10. All Bonds issued in accordance with the provisions of this Act shall be direct, general obligations of the State of Illinois and shall so state on the face thereof, and the full faith and credit of the State of Illinois are here…

(30 ILCS 390/11) (from Ch. 122, par. 1211) Sec. 11. If the State fails to pay the principal of or interest on any of the Bonds as the same become due, a civil action to compel payment may be instituted in the Supreme Court of Illinois as a court of original jurisdiction by the ho…

(30 ILCS 390/12) (from Ch. 122, par. 1212) Sec. 12. Upon each delivery of Bonds authorized to be issued under this Act, the Comptroller shall compute and certify to the State Treasurer the total amount of principal of and interest on the Bonds issued that will be payable in order…

(30 ILCS 390/13) (from Ch. 122, par. 1213) Sec. 13. The State of Illinois is authorized, from time to time as the Governor shall determine, to issue, sell and provide for the retirement of Bonds of the State of Illinois for the sole purpose of refunding all or any portion of the …

(30 ILCS 390/14) (from Ch. 122, par. 1214) Sec. 14. If any Section, sentence, or clause of this Act is for any reason held invalid or to be unconstitutional, such decision shall not affect the validity of the remaining portions of this Act. (Source: P.A. 78-220.)

(30 ILCS 390/15) (from Ch. 122, par. 1215) Sec. 15. After December 1, 1984 no additional bonds shall be issued or sold pursuant to this Act; instead all State of Illinois general obligation bonds shall be issued and sold pursuant to the "General Obligation Bond Act". (Source: P.A…

(30 ILCS 390/2) (from Ch. 122, par. 1202) Sec. 2. The General Assembly has examined the long-term capital facility and land needs of the local school districts within the State of Illinois. The General Assembly also recognizes the State of Illinois' primary responsibility for fin…

(30 ILCS 390/3) (from Ch. 122, par. 1203) Sec. 3. The State of Illinois is authorized to issue, sell and provide for the retirement of general obligation bonds of the State of Illinois in the amount of $330,000,000 hereinafter called the "Bonds", for the specific purpose of provi…

(30 ILCS 390/4) (from Ch. 122, par. 1204) Sec. 4. The Bonds shall be issued and sold from time to time in such amounts as directed by the Governor, upon recommendation by the Director of the Governor's Office of Management and Budget. The Bonds shall be serial bonds and shall be …

(30 ILCS 390/5) (from Ch. 122, par. 1205) Sec. 5. The Bonds shall be signed by the Governor and attested by the Secretary of State under the printed facsimile seal of the State and countersigned by the Treasurer by his manual signature or by his duly authorized deputy. The signat…

(30 ILCS 390/6) (from Ch. 122, par. 1206) Sec. 6. The Bonds shall be sold from time to time by the Director of the Governor's Office of Management and Budget to the highest and best bidders, for not less than their par value, upon sealed bids, at not exceeding the maximum interes…

(30 ILCS 390/7) (from Ch. 122, par. 1207) Sec. 7. At all times, the proceeds from the sale of the Bonds are subject to appropriation by the General Assembly to the Capital Development Board or its successor, or, for the 1976 and 1977 fiscal years only, to the State Board of Educa…

(30 ILCS 390/8) (from Ch. 122, par. 1208) Sec. 8. The Treasurer may, with the approval of the Governor, invest and reinvest any money in the School Construction Fund in the State Treasury which, in the opinion of the Governor communicated in writing to the Treasurer, is not neede…

(30 ILCS 390/9) (from Ch. 122, par. 1209) Sec. 9. To provide for the manner of repayment of the Bonds, the Governor shall include an appropriation in each annual State Budget of monies in such amount as shall be necessary and sufficient, for the period covered by such budget, to …

(30 ILCS 425/1) (from Ch. 127, par. 2801) Sec. 1. Short Title. This Article (herein the "Act") shall be known and may be cited as the "Build Illinois Bond Act". (Source: P.A. 84-111.)

(30 ILCS 425/10) (from Ch. 127, par. 2810) Sec. 10. Appropriation of Proceeds from Sale of Bonds. Accrued interest paid to the State at the time of the delivery of any series of Bonds and any other proceeds from the sale of Bonds issued pursuant to this Act to make deposits into …

(30 ILCS 425/11) (from Ch. 127, par. 2811) Sec. 11. Repayment. (a) To provide for the repayment of Bonds and required deposits into reserve funds required to be maintained as security for the Bonds, the Governor shall include an appropriation in each annual State Budget of moneys…

(30 ILCS 425/12) (from Ch. 127, par. 2812) Sec. 12. Bonds as Limited Obligations of the State. The Governor, on behalf of the State, is authorized to direct the trustee under the Master Indenture securing the outstanding Bonds to pay to the General Revenue Fund on June 15, 1994, …

(30 ILCS 425/13) (from Ch. 127, par. 2813) Sec. 13. Computation of principal and interest; transfer from Build Illinois Bond Account; payment from Build Illinois Bond Retirement and Interest Fund. Upon each delivery of Bonds authorized to be issued under this Act, the trustee und…

(30 ILCS 425/14) (from Ch. 127, par. 2814) Sec. 14. State Covenant. The State of Illinois irrevocably covenants and agrees with the holders of Bonds issued pursuant to this Act that the State will not limit or alter (a) the basis on which the taxes and revenues of the State are r…

(30 ILCS 425/15) (from Ch. 127, par. 2815) Sec. 15. Refunding Bonds. Refunding Bonds are hereby authorized for the purpose of refunding any outstanding Bonds, including the payment of any redemption premium thereon, any reasonable expenses of such refunding, and any interest accr…

(30 ILCS 425/16) (from Ch. 127, par. 2816) Sec. 16. Compel Payment - Remedies of Bondholders. If the State fails to pay the principal of or interest on any of the Bonds or premium, if any, as the same become due, a civil action to compel payment may be instituted in the Supreme C…

(30 ILCS 425/17) (from Ch. 127, par. 2817) Sec. 17. Investment of Money Not Needed for Current Expenditures - Application of Earnings. (a) The State Treasurer may, with the Governor's approval, invest and reinvest any moneys on deposit in the Build Illinois Bond Fund and the Buil…

(30 ILCS 425/2) (from Ch. 127, par. 2802) Sec. 2. Authorization for Bonds. The State of Illinois is authorized to issue, sell and provide for the retirement of limited obligation bonds, notes and other evidences of indebtedness of the State of Illinois in the total principal amou…

(30 ILCS 425/3) (from Ch. 127, par. 2803) Sec. 3. Findings. The General Assembly hereby makes the following findings and determinations: (a) The issuance and sale of Bonds pursuant to this Act is an economical and efficient method of financing long-term capital needs, including c…

(30 ILCS 425/4) (from Ch. 127, par. 2804) Sec. 4. Purposes of Bonds. Bonds shall be issued for the following purposes and in the approximate amounts as set forth below: (a) $4,873,094,533 for the expenses of issuance and sale of Bonds, including bond discounts, and for planning, …

(30 ILCS 425/4.1) Sec. 4.1. Re-authorization of deposits into the Water Pollution Control Revolving Fund. The making of deposits into the Water Pollution Control Revolving Fund (now known as the Water Revolving Fund) to provide assistance in accordance with the provisions of Titl…

(30 ILCS 425/5) (from Ch. 127, par. 2805) Sec. 5. Bond sale expenses. (a) Costs for advertising, printing, bond rating, travel of outside vendors, security, delivery, and legal and financial advisory services, initial fees of trustees, registrars, paying agents, and other fiducia…

(30 ILCS 425/6) (from Ch. 127, par. 2806) Sec. 6. Conditions for issuance and sale of Bonds; requirements for Bonds; master and supplemental indentures; credit and liquidity enhancement. (a) Bonds shall be issued and sold from time to time, in one or more series, in such amounts …

(30 ILCS 425/7) (from Ch. 127, par. 2807) Sec. 7. Execution of Bonds. Bonds shall be signed by the Governor and attested by the Secretary of State under the printed facsimile seal of the State and countersigned by the State Treasurer by his manual signature or by his duly authori…

(30 ILCS 425/8) (from Ch. 127, par. 2808) Sec. 8. Sale of Bonds. Bonds, except as otherwise provided in this Section, shall be sold from time to time pursuant to notice of sale and public bid or by negotiated sale in such amounts and at such times as are directed by the Governor,…