Illinois Compiled Statutes 30 Finance: Article -

• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 1
  Short title. This Act shall be known and may be cited as the Local Government Debt Reform Act. (Source: P.A. 85-1419.)
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 2
  Findings. The General Assembly finds: (a) There have been many and important changes in the market for and practices with respect to the issuance...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 3
  Definitions. In this Act words or terms shall have the following meanings unless the context or usage clearly indicates that another meaning is intended....
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 4
  Powers supplemental. The provisions of this Act are intended to be supplemental and in addition to all other powers or authorities granted to any...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 5
  Backdoor referendum procedure. (a) Whenever applicable law provides that the authorization or the issuance of bonds, or the becoming effective of an ordinance providing...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 5.5
  Notices. (a) Whenever applicable law requires notice in connection with the issuance of bonds, the notice shall be sufficient if the notice appears above...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 6
  Costs of project or purpose. Whenever a governmental unit is authorized by applicable law to issue bonds without referendum pursuant to authority granted or...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 7
  Reserves. A governing body may provide for a reserve fund solely for the payment of the principal of and interest on bonds. Bond proceeds...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 8
  Coverage covenant. A governing body is authorized and may covenant and contract with the holders of revenue bonds to levy, charge and collect moneys...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 9
  Provisions for interest. (a) The proceeds of bonds may be used to provide for the payment of interest upon such bonds for a period...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 10
  General provisions. Bonds authorized by applicable law may be issued in one or more series, bear such date or dates, become due at such time...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 11
  Refundings and redemption premiums. Bonds may be refunded or advance refunded upon such terms as the governing body may set in accordance with this...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 12
  Invest in tax-exempts; joint investments. In addition to the authority otherwise available to invest funds, a governing body may authorize and upon such authorization the...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 13
  Certain pledges. A governmental unit may pledge, as security for the payment of its bonds, (1) revenues derived from the operation of any utility...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 14
  Certain warrant provisions. Whenever applicable law permits a governmental unit to issue warrants in anticipation of taxes to be levied or other funds to...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 15
  Double-barrelled bonds. Whenever revenue bonds have been authorized to be issued pursuant to applicable law or whenever there exists for a governmental unit a revenue...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 15.01
  Limited bonds. A governmental unit is authorized to issue limited bonds payable from the debt service extension base, as defined in the Property Tax...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 16
  Levy for bonds. A governmental unit may levy a tax for the payment of principal of and interest on general obligation bonds or limited...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 16.5
  Proposition for bonds. For all elections held after July 1, 2000, the form of a proposition to authorize the issuance of bonds pursuant to...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 17
  Leases and installment contracts. (a) Interest not debt; debt on leases and installment contracts. Interest on bonds shall not be included in any computation...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 17.5
  Bond authorization by referendum. (a) Whenever applicable law provides that the authorization of or the issuance of bonds is subject to either a referendum or...
• Illinois Local Government Debt Reform Act. - 30 ILCS 350, Section 18
  Recital. Bonds which are issued in part pursuant to this Act may contain a recital to that effect and any such recital shall be...

Last modified: February 18, 2015