Act
Industrial Building Revenue Bond Act
- 50 ILCS 445/1
- 50 ILCS 445/2— Definitions
- 50 ILCS 445/3
- 50 ILCS 445/4— An authority is empowered by this Act to: (a) Build, rebuild, acquire by gift or purchase, improve or extend an industrial project within and outside of the physical boundaries of the authority
- 50 ILCS 445/5— Exercise of the powers enumerated in Section 4 of this Act shall be by resolution adopted by a majority of the members of the governing body of the authority
- 50 ILCS 445/6
- 50 ILCS 445/7
- 50 ILCS 445/8— The holders of bonds issued under this Act possess a lien on the income and revenues derived by an authority from the industrial projects for which the bonds are issued
- 50 ILCS 445/9— No holder of bonds issued under authority of this Act may compel the exercise of the taxing power of the authority issuing the bonds to pay the principal or interest due on them
- 50 ILCS 445/10— The governing body of an authority that issues bonds pursuant to this Act shall establish and collect revenues for industrial projects and shall revise the revenues when necessary to insure that the income from the revenues is always sufficient to pay the principal and interest on all bonds when due
- 50 ILCS 445/11— Revenue bonds issued solely for the purpose of financing an industrial project may be sold at private sale without advertisement