50 ILCS 475/5-25

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Illinois Code › Chapter 50 › Act 475 › Section 5-25

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

Master developer standards.

The master developer appointed for the STAR bond district shall meet high standards of creditworthiness and financial strength, as demonstrated by one or more of the following: (i) corporate debenture ratings of BBB or higher by Standard & Poor's Corporation or Baa or higher by Moody's Investors Service, Inc.; (ii) a letter from a financial institution with assets of $10,000,000 or more attesting to the financial strength of the master developer; or (iii) specific evidence of equity financing for not less than 10% of the estimated total STAR bond project costs.

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