The maximum annual debt service for a State University's total certificate of participation obligation must not exceed the following: (1) For the University of Illinois, $100,000,000. (2) For Southern Illinois University, $20,000,000. (3) For Northern Illinois University, $20,000,000. (4) For Illinois State University, $10,000,000. (5) For Western Illinois University, $10,000,000. (6) For Eastern Illinois University, $10,000,000. (7) For Northeastern Illinois University, $5,000,000. (8) For Chicago State University, $5,000,000. (9) For Governors State University, $5,000,000.
110 ILCS 73/30
Debt limit
Known as the State University Certificates of Participation Act
The act spans §§ 110-73-1 to 110-73-99 (11 sections).
P.A. 96-15, eff. 6-22-09.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.