Illinois Compiled Statutes 55 ILCS 90 County Economic Development Project Area Tax Increment Allocation Act of 1991. Section 70
Legal Research Home >
Illinois Laws
(55 ILCS 90/70) (from Ch. 34, par. 8070)
Sec. 70.
Payment of project costs; revenues from county property.
Revenues received by the county from any property, building, or facility
owned, leased, or operated by the county or any agency or authority
established by the county may be used to pay economic development project
costs or reduce outstanding obligations of the county incurred under this
Act for economic development project costs. The county may place those
revenues in the special tax allocation fund, which shall be held by the
county treasurer or other person designated by the county. Revenue
received by the county from the sale or other disposition of real property
acquired by the county with the proceeds of obligations funded by tax
increment allocation financing shall be deposited by the county in the
special tax allocation fund.
(Source: P.A. 87-1.)
Sections: 25 30 35 38 40 45 50 55 60 62 65 70 74 75 110
Last modified: February 20, 2012
|
