Illinois Compiled Statutes 70 Special Districts: Article -

• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 1
  Short title. This Act may be cited as the Eastern Illinois Economic Development Authority Act. (Source: P.A. 94-203, eff. 7-13-05.)
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 5
  Findings. The General Assembly determines and declares the following: (1) that labor surplus areas currently exist in eastern Illinois; (2) that the economic burdens resulting...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 10
  Definitions. In this Act: "Authority" means the Eastern Illinois Economic Development Authority. "Governmental agency" means any federal, State, or local governmental body and any agency...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 15
  Creation. (a) There is created a political subdivision, body politic, and municipal corporation named the Eastern Illinois Economic Development Authority. The territorial jurisdiction of the...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 20
  Duty. All official acts of the Authority shall require the approval of at least 8 members. It shall be the duty of the Authority to...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 25
  Powers. (a) The Authority possesses all the powers of a body corporate necessary and convenient to accomplish the purposes of this Act, including, without any...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 30
  Tax avoidance. Notwithstanding any other provision of law, the Authority shall not enter into any agreement providing for the purchase and lease of tangible personal...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 35
  Bonds. (a) The Authority, with the written approval of the Governor, shall have the continuing power to issue bonds, notes, or other evidences of indebtedness...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 40
  Bonds and notes; exemption from taxation. The creation of the Authority is in all respects for the benefit of the people of Illinois and for...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 45
  Acquisition. (a) The Authority may, but need not, acquire title to any project with respect to which it exercises its authority. (b) The Authority shall...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 55
  Designation of depository. The Authority shall biennially designate a national or State bank or banks as depositories of its money. Such depositories shall be designated...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 60
  Taxation prohibited. The Authority shall have no right or authority to levy any tax or special assessment, to pledge the credit of the State or...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 65
  Fees. The Authority may collect fees and charges in connection with its loans, commitments, and servicing and may provide technical assistance in the development of...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 70
  Reports. The Authority shall annually submit a report of its finances to the Auditor General. The Authority shall annually submit a report of its activities...
• Illinois Eastern Illinois Economic Development Authority Act. - 70 ILCS 506, Section 999
  Effective date. This Act takes effect upon becoming law. (Source: P.A. 94-203, eff. 7-13-05.)

Last modified: February 18, 2015