Illinois Compiled Statutes 30 Finance: Article 3 - Railsplitter Tobacco Settlement Authority Act

• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-1
  Short title. This Act may be cited as the Railsplitter Tobacco Settlement Authority Act. References in the Article to "this Act" mean this Article. (Source:...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-2
  Definitions. In this Act words or terms shall have the following meanings unless the context or usage clearly indicates that another meaning is intended. (a)...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-3
  Transfer and sale of State's right to tobacco settlement revenues. During fiscal years 2010 and 2011, the State may sell, convey, or otherwise transfer to...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-4
  Establishment and Powers of Authority. The Authority is hereby established as a special purpose corporation which shall be body corporate and politic of, but having...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-5
  Certain powers of the Authority. The Authority shall have the power to: (1) sue and be sued; (2) have a seal and alter the same...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-6
  Bonds of the Authority. (a) The Authority shall have power and is hereby authorized to issue bonds, in an amount no greater than $1,750,000,000, to...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-7
  State not liable on bonds or related bond facilities. No bond or related bond facility shall constitute an indebtedness or an obligation of the State...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-8
  Agreement with the State. (a) The State pledges and agrees with the Authority, and the owners of the bonds of the Authority in which the...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-9
  Enforcement of contract. The provisions of this Act and of any resolution or proceeding authorizing the issuance of bonds or a related bond facility shall...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-10
  Bonds as legal investments. The State and all counties, cities, villages, incorporated towns and other municipal corporations, political subdivisions and public bodies, and public officers...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-12
  Exemption from taxation. It is hereby determined that the creation of the Authority and the carrying out of its corporate purposes are in all respects...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-13
  Illinois State Auditing Act. The Auditor General shall conduct financial audits and program audits of the Authority, in accordance with the Illinois State Auditing Act....
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-15
  Supplemental nature of Act; construction and purpose. The powers conferred by this Act shall be in addition to and supplemental to the powers conferred by...
• Illinois Railsplitter Tobacco Settlement Authority Act. - 30 ILCS 171, Section 3-16
  Severability. If any provision of this Act is held invalid, such provision shall be deemed to be excised and the invalidity thereof shall not affect...

Last modified: February 18, 2015