Illinois Compiled Statutes 70 Special Districts: Article -

• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 1
  Short title. This Act may be cited as the Illinois Urban Development Authority Act. (Source: P.A. 96-234, eff. 1-1-10.)
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 2
  Findings. The General Assembly hereby determines and declares that: (1) the economic burdens resulting from involuntary unemployment fall in part upon the State in the...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 3
  Definitions. The following terms, whenever used or referred to in this Act, shall have the following meanings, except in such instances where the context may...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 4
  Illinois Urban Development Authority. There is hereby created a political subdivision, body politic and corporate by the name of Illinois Urban Development Authority. The exercise...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 5
  Conflicts of interest. (a) No member of the Authority or officer, agent, or employee thereof shall, in the member's own name or in the name...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 6
  Records and reports of the Authority. The secretary shall keep a record of the proceedings of the Authority. The treasurer of the Authority shall be...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 7
  Approval of official acts. All official acts of the Authority shall require the approval of at least 6 members. (Source: P.A. 96-234, eff. 1-1-10.)
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 8
  Powers of the Authority. (a) The Authority possesses all the powers of a body corporate necessary and convenient to accomplish the purposes of this Act,...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 9
  Revenue bonds. (a) The Authority shall have the continuing power to issue revenue bonds, notes, or other evidences of indebtedness in an aggregate amount not...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 9.1
  Limitation. (a) The Authority may issue its bonds or notes (including refunding bond or notes) only if the financed project is situated within the territorial...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 10
  Legality for investment. Any financial institution, investment company, insurance company, or association and any personal representative, guardian, trustee, or other fiduciary, may legally invest any...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 11
  Tax exemption. The Authority shall not be required to pay any taxes or assessments of any kind whatsoever and its bonds, their transfer, the interest...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 12
  Additional powers and duties. (a) The Authority may, but need not, acquire title to any project with respect to which it exercises its authority. (b)...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 13
  Fees and charges. The Authority may collect fees and charges in connection with its loans, commitments, and servicing and may provide technical assistance in the...
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 14
  Designation of depository. The Authority shall biennially designate a national or State bank or banks as depositories of its money. Those depositories shall be designated...
• Special Districts: Article -
  Amendatory provisions; text omitted
• Illinois Urban Development Authority Act. - 70 ILCS 531, Section 90
  (Amendatory provisions; text omitted). (Source: P.A. 96-234, eff. 1-1-10; text omitted.)

Last modified: February 18, 2015