50 ILCS 475/5-45
IllinoisStatutes
Ask Donna
How this section applies to your facts.
Illinois Code › Chapter 50 › Act 475 › Section 5-45
Text
STAR bonds; source of payment.
(a) Any political subdivision shall have the power to issue STAR bonds in one or more series to finance the undertaking of any STAR bond project in accordance with the provisions of this Act and the Omnibus Bond Acts. Any STAR bond project approved under this Act may be completed in one or more phases, and STAR bonds may be issued, in one or more series, to finance any STAR bond project or phase thereof. STAR bonds may be issued as revenue bonds, alternate bonds, or general obligation bonds as defined in and subject to the procedures provided in the Local Government Debt Reform Act.
STAR bonds may be made payable, both as to principal and interest, from the following revenues, which, to the extent pledged by each respective political subdivision or other public entity for that purpose, shall constitute pledged STAR revenues:
(1) revenues of the political subdivision derived
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.