The amount of $750,000,000 is authorized to be issued only during fiscal year 2003 for the making of deposits of 50% of net proceeds to the General Revenue Fund to build the fiscal year ending general funds cash balance and to meet the ordinary and contingent expenses of the State and 50% of net proceeds to the Budget Stabilization Fund.
30 ILCS 330/7.5
Tobacco securitization general obligation bonds
Known as the General Obligation Bond Act
The act spans §§ 30-330-1 to 30-330-9 (30 sections).
P.A. 92-596, eff. 6-28-02.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.