Illinois Compiled Statutes 50 Local Government: Article -

• Illinois Local Government Defeasance of Debt Law. - 50 ILCS 415, Section 0.01
  Short title. This Article may be cited as the Local Government Defeasance of Debt Law. (Source: P.A. 86-1324.)
• Illinois Local Government Defeasance of Debt Law. - 50 ILCS 415, Section 1
  As used in this Article: (a) "Unit of local government" means any county, city, village, incorporated town, township, school district, special district, and unit,...
• Illinois Local Government Defeasance of Debt Law. - 50 ILCS 415, Section 2
  Whenever it is advantageous and in the public interest to do so, a unit of local government is empowered to effect the net defeasance...
• Illinois Local Government Defeasance of Debt Law. - 50 ILCS 415, Section 3
  Nothing in this Act shall be construed to permit any invested or reinvested moneys or cash equivalents or any income or profit derived therefrom...

Last modified: February 18, 2015