Illinois Compiled Statutes 105 ILCS 5 School Code. Section 34A-501.1
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Illinois Laws
(105 ILCS 5/34A-501.1)
Sec. 34A-501.1.
Additional bond authority.
Subject to the limitation
in additional amount authorized by this amendatory Act of 1993 in Section
34A-501, the Authority shall incur indebtedness by the issuance of its Bonds on
or after July 1, 1993 in principal amounts sufficient to provide the Board from
the proceeds of the Bonds the sum of $175,000,000 during the
Fiscal Year
beginning in 1993, and the sum of $203,000,000 during the Fiscal Year
beginning
in 1994, in each year for ordinary and necessary expenditures for educational
purposes, maintenance of school facilities, and other operational needs of the
Board. All sums provided to the Board from proceeds of Bonds issued on or
after July 1, 1993 shall be treated
as revenues of the Board in that fiscal year for all purposes.
(Source: P.A. 88-511.)
Sections: 34A-410 34A-411 34A-412 34A-413 34A-414 34A-415 34A-501 34A-501.1 34A-502 34A-503 34A-504 34A-505 34A-506 34A-507 34A-508
Last modified: February 20, 2012
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