reglab/housing_qa huggingface dataset:
20 ILCS 3501/820-25
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-25.     Unit of Local Government Participation.     Any unit of local  government is authorized to voluntarily participate in this program. Any unit  of local government which is authorized to issue, sell and deliver its local  government securities under any provision of the Constitution or laws of the  State may issue, sell and deliver such local government securities to the  Authority under  this Article; provided that and notwithstanding  any other provision of law to the contrary, any such unit of local government  may issue and sell any such local government security at any interest rate or  rates, which rate or rates may be established by an index or formula which may  be implemented by persons appointed or retained therefor, payable at such time  or times, and at such price or prices to which the unit of local government and  the Authority may agree. Any unit of local government may pay any amount  charged by the Authority pursuant to  this Article.  Any unit of local government participating in this program may pay out of the  proceeds of its local government securities or out of any other moneys or funds  available to it for such purposes any costs, fees, interest deemed necessary,  premium or reserves incurred or required for financing or refinancing this  program, including without limitation any fees charged by the Authority  pursuant  to  this Article and its share, as determined by the  Authority, of any costs, fees, interest deemed necessary, premium or reserves  incurred or required pursuant to  Section 820-20 of this Act. All local  government securities purchased or otherwise acquired by the Authority pursuant  to this Act shall upon delivery to the Authority be accompanied by an approving  opinion of bond counsel as to the validity of such securities. The Authority  shall have discretion to purchase or otherwise acquire those local government  securities, as it shall deem to be in the best interest of its financing  program  for all units of local government taken as a whole.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/820-30
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-30.     Criteria for Participation in the Program.     If the Authority  requires an application for participation in the Program, upon submission of  any  such application, the Authority or any entity on behalf of the Authority shall  review such application for its completeness and may, at its discretion, accept  or reject such application or request such additional information as it deems  necessary or advisable to aid its review.  In the course of its review, the Authority may consider but shall not be  limited  to the following factors:(a) Whether the public purpose for which the local government security is to  be  issued will have a significant impact on the economy, environment, health or  safety of the unit of local government;(b) The extent to which the public purpose for which the local government  security is to be issued will provide reinforcement for other community and  economic development related investments by such units of local government;(c) The creditworthiness of the unit of local government and the local  government security, including, without limitation, the ability of the unit of  local government to comply with the credit requirements of the provider of any  guarantees, letters of credit, insurance contracts or other similar credit  support or liquidity instruments; and(d) Such other factors as deemed necessary by the Authority which are  consistent with the intent of this Act.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/820-35
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-35.   The Authority may assist the Department to establish and  implement a program to assist units of local government to identify and arrange  financing for energy conservation projects in buildings and facilities owned or  leased by units of local government.  Such bonds shall not constitute an indebtedness or obligation of the State of  Illinois and it shall be plainly stated on the face of each bond that it does  not constitute such an indebtedness or obligation but is payable solely from  the  revenues, income or other assets of the Authority pledged therefor.  (Source: P.A. 97-760, eff. 7-6-12.)
20 ILCS 3501/820-40
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-40.     Investment of moneys.     Any moneys at any time held by the  Authority pursuant to  this Article shall be held  outside the State treasury in the custody of either the Treasurer of the  Authority or a trustee or depository appointed by the Authority. Such moneys  may be invested in (a) investments authorized by the Public Funds Investment  Act,  (b) obligations issued by any State, unit of local government or  school  district, which obligations are rated at the time of purchase by a national  rating service within the 2 highest rating classifications without regard to  any  rating refinement or gradation by numerical or other modifier, (c) equity  securities of an investment company registered under the Investment Company Act  of 1940 whose sole assets, other than cash and other temporary investments, are  obligations which are eligible investments for the Authority, or (d) investment  contracts under which securities are to be purchased and sold at a  predetermined  price on a future date, or pursuant to which moneys are deposited with a bank  or  other financial institution and the deposits are to bear interest at an agreed  upon rate, provided that such investment contracts are with a bank or other  financial institution whose obligations are rated at the time of purchase by a  national rating service within the 2 highest rating classifications without  regard to any rating refinement or gradation by numerical or other modifier.  The interest, dividends or other earnings from such investments may be used to  pay administrative costs of the Authority incurred in administering the program  or trustee or depository fees incurred in connection with such program.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/820-45
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-45.     Pledge of Revenues by the Authority.     Any pledge of revenues  or  other moneys made by the Authority shall be binding from the time the pledge is  made. Revenues and other moneys so pledged shall be held outside of the State  treasury and in the custody of either the Treasurer of the Authority or a  trustee or a depository appointed by the Authority. Revenues or other moneys so  pledged and thereafter received by the Authority or such trustee or depository  shall immediately be subject to the lien of the pledge without any physical  delivery thereof or further act, and the lien of any pledge shall be binding  against all parties having claims of any kind of tort, contract or otherwise  against the Authority, irrespective of whether the parties have notice thereof.  Neither the resolution nor any other instrument by which a pledge is created  need be filed or recorded except in the records of the Authority.  The State does pledge to and agree with the holders of bonds, and the  beneficial  owners of the local government securities, that the State will not limit or  restrict the rights hereby vested in the Authority to purchase, acquire, hold,  sell or dispose of local government securities or other investments or to  establish and collect such fees or other charges as may be convenient or  necessary to produce sufficient revenues to meet the expenses of operation of  the Authority, and to fulfill the terms of any agreement made with the holders  of the bonds or the beneficial owners of the local government securities or in  any way impair the rights or remedies of the holders of those bonds or the  beneficial owners of the local government securities until such bonds or local  government securities are fully paid and discharged or provision for their  payment has been made.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/820-55
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

Sec. 820-55.     Eligible Investments.     Bonds, issued by the Authority pursuant  to the provisions of  this Article, shall be  permissible investments within the provisions of  Section 805-40 of this Act.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/820-60
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 820 - Local Government

(20 ILCS 3501/820-60)Sec. 820-60.     Tax Exemption.     The exercise of powers granted in  this Article  is in all respects for the benefit of the people of  Illinois and in consideration thereof the bonds issued pursuant to the  aforementioned  Sections and the income therefrom shall be free from all taxation  by the State or its political subdivisions, except for estate, transfer and  inheritance taxes. For purposes of  Section 250 of the Illinois Income Tax Act,  the exemption of the income from bonds issued under the aforementioned  Sections  shall terminate after all of the bonds have been paid. The amount of such  income that shall be added and then subtracted on the Illinois income tax  return  of a taxpayer, pursuant to  Section 203 of the Illinois Income Tax Act, from  federal adjusted gross income or federal taxable income in computing Illinois  base income shall be the interest net of any bond premium amortization.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/Art. 825 heading
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

 ARTICLE 825  OTHER POWERS
20 ILCS 3501/825-5
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-5.         Motion Picture Production Program; Findings and Declaration of  Policy. It is hereby found and declared that the production of motion pictures  has an enormous potential for contributing to the economic well-being of the  State and its communities; that a critical mass of movie productions is  essential to the continuing viability of this fledgling industry in Illinois;  that to achieve this critical mass, a financial inducement to attract movie  productions to the State is required; and that the provisions of this Act are  hereby declared to be in the public interest and for the public benefit.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-10
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-10.         The Authority may develop a program for financing the  production  of motion pictures in the State of Illinois. All projects financed by the  Authority shall require the approval of both the Illinois Arts Council and the  Authority.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-12
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-12. Conservation projects.(a) The Authority may develop a program to provide low-interest loans and other financing to individuals, business entities, private organizations, and units of local government for conservation projects within the United States, provided that, if the conservation project is located outside of the State, it is owned, operated, leased or managed by an entity located within the State or any entity affiliated with an entity located within the State.(b) Projects under this Section may include, without limitation, the acquisition of land for open-space projects, preservation or recreation measures for open spaces, and energy conservation or efficiency projects that are intended to reduce energy usage and costs.(c) The Authority, in cooperation with the Department of Natural Resources and the Department of Commerce and Economic Opportunity, may adopt any rules necessary for the administration of this Section. The Authority must include any information concerning the program under this Section on its Internet website.  (Source: P.A. 98-90, eff. 7-15-13.)
20 ILCS 3501/825-13
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-13. Supervision of the Riverdale Development Authority bond issuances.(a) All bond issuances of the Riverdale Development Authority are subject to supervision, management, control, and approval of the Authority.(b) All bonds issued by the Riverdale Development Authority under the supervision of the Authority are subject to the terms and conditions that are set forth in the Riverdale Development Authority Act.(c) The bonds issued by the Riverdale Development Authority under the supervision of the Authority are not debts of the Authority or of the State.  (Source: P.A. 94-1093, eff. 1-26-07.)
20 ILCS 3501/825-13.5
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-13.5. Supervision of the Illinois Urban Development Authority bond issuances.(a) All bond issuances of the Illinois Urban Development Authority are subject to supervision, management, control, and approval of the Authority.(b) All bonds issued by the Illinois Urban Development Authority under the supervision of the Authority are subject to the terms and conditions that are set forth in the Illinois Urban Development Authority Act.(c) The bonds issued by the Illinois Urban Development Authority under the supervision of the Authority are not debts of the Authority or of the State.    (Source: P.A. 96-234, eff. 1-1-10.)
20 ILCS 3501/825-15
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-15. (Repealed).        (Source: P.A. 93-205, eff. 1-1-04. Repealed by P.A. 94-91, eff. 7-1-05.)
20 ILCS 3501/825-20
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-20.         Financially Distressed City Assistance Program; Findings and  Declarations of Policy. It is hereby found and declared that there exists an  urgent need to reduce involuntary unemployment and economic stagnation within  financially distressed cities and to create therein a more favorable economic  climate for the development of new and improved employment opportunities for  the  citizens of such cities; that to address such need it is necessary to promote  sound financial management and fiscal integrity within such cities in order to  provide a secure financial basis for their continued operation; and that  implementation of a financially distressed city assistance program under the  provisions of this Act is declared to be in the public interest and for the  public benefit.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-25
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-25.     Definition.     As used in  Sections 825-20 through 825-60 of this  Act, the term "financially distressed city" means a unit of local government  which has been certified and designated as a financially distressed city under  Section 8-12-4 of the Illinois Municipal Code and to which the provisions of  Division 12 of Article 8 of that Code have become applicable as provided by  that  Section 8-12-4.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-30
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-30.     Powers and Duties; Financing.(a) Upon application of the financial advisory authority established for a  financially distressed city under Division 12 of Article 8 of the Illinois  Municipal Code, the Authority shall have the power to issue its bonds, notes or  other evidences of indebtedness, the proceeds of which are to be used to make  loans to a financially distressed city for purposes of enabling that city to  restructure its current indebtedness and to provide and pay for its essential  municipal services as determined in a manner consistent with Division 12 of  Article 8 of the Illinois Municipal Code by the financial advisory authority  established for that city under that Division 12.(b) Bonds authorized to be issued by the Authority under  Sections 825-20 through  825-60 shall be payable from such revenues, income, funds and accounts of the  financially distressed city which receives a loan of any proceeds of the bonds  so issued as the Authority shall determine and prescribe in the loan agreement.(c) The Authority may prescribe the form and contents of any application  submitted under subsection (a) of this  Section and may, at its discretion,  accept or reject such application or require such additional information as it  deems necessary to aid in its review and determination of whether it will issue  its bonds and loan the proceeds thereof as authorized under  Sections 825-20  through 825-60.(d) The amount of bonds issued or proceeds thereof loaned by the Authority  with  respect to an application which the Authority has approved shall be determined  by the Authority.(e) The financially distressed city receiving a loan under  Sections 825-20  through 825-60 shall enter into a loan agreement in the form and manner  prescribed by the Authority, and shall pay back to the Authority the principal  amount of the loan, plus annual interest as determined by the Authority. The  Authority shall have the power, subject to appropriations by the General  Assembly, to subsidize or buy down a portion of the interest on such loans, up  to 4% per annum.(f) The Authority shall create and establish a debt service reserve fund to  be  maintained by a trustee separate and segregated from all other funds and  accounts of the Authority. This reserve fund shall be initially funded by a  contribution of State monies.(g) The amount to be accumulated in the debt  service reserve fund shall be determined by the Authority but shall not exceed  the maximum amount of interest, principal and sinking fund installments due in  any succeeding calendar year.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-40
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-40.     Additional security.     In the event that the Authority  determines  that funds pledged, intercepted or otherwise received or to be received by the  Authority under  Section 825-20 of this Act will not be sufficient for the payment  of the principal, premium, if any, and interest during the next State fiscal  year on any bonds issued by the Authority under  Sections 825-20 through 825-60,  the Chairman, as soon as is practicable, shall certify to the Governor the  amount required by the Authority to enable it to pay the principal, premium, if  any, and interest falling due on such bonds. The Governor shall submit the  amount so certified to the General Assembly as soon as practicable, but no  later  than the end of the current State fiscal year. This paragraph shall not apply  to any bonds as to which the Authority shall have determined, in the resolution  authorizing their issuance, that this paragraph shall not apply. Whenever the  Authority makes such a determination, that fact shall be plainly stated on the  face of such bonds and that fact shall also be reported to the Governor.  In the event of a withdrawal of moneys from a debt service reserve fund  established with respect to any issue or issues of bonds of the Authority to  pay  principal and interest on those bonds, the Chairman, as soon as practicable,  shall certify to the Governor the amount required to restore such reserve funds  to the level required in the resolution or indenture securing the bonds. The  Governor shall submit the amount so certified to the General Assembly as soon  as  practicable, but not later than the end of the current State fiscal year.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-50
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-50.     Eligible Investments.     Bonds issued by the Authority pursuant  to  Sections 825-20 through 825-60 shall be permissible investments within the  provisions of  Section 805-40.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-55
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-55.     Tax Exemption.     The exercise of the powers granted in  Sections  825-20 through 825-60 are in all respects for the benefit of the people of  Illinois, and in consideration thereof shall be free from all taxation by the  State or its political subdivisions, except for estate, transfer and  inheritance  taxes. For the purposes of  Section 250 of the Illinois Income Tax Act, the  exemption of the income from bonds issued under the aforementioned  Sections  shall terminate after all of the bonds have been paid. The amount of such  income that shall be added and then subtracted on the Illinois income tax  return  of a taxpayer, pursuant to  Section 203 of the Illinois Income Tax Act, from  federal adjusted gross income or federal taxable income in computing Illinois  base income shall be the interest net of any bond premium amortization.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-60
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-60.     Financially Distressed City Assistance Program Limitation.     In  addition to the bonds authorized to be issued under  Sections 801-40(w), 825-65(e),  830-25 and 845-5, the Authority may have outstanding at any time, bonds for the  purposes enumerated in  Sections 825-20 through 825-60 in an aggregate principal  amount that shall not exceed $50,000,000. Such bonds shall not constitute an  indebtedness or obligation of the State of Illinois, and it shall be plainly  stated on the face of each bond that it does not constitute such an  indebtedness or obligation but is payable solely from the revenues, income or  other assets of the Authority pledged therefor.    (Source: P.A. 93-205, eff. 1-1-04.)
20 ILCS 3501/825-70
2021 Illinois Compiled Statutes|Chapter 20 - EXECUTIVE BRANCH|20 ILCS 3501/ - Illinois Finance Authority Act.|Article 825 - Other Powers

Sec. 825-70. Criteria for participation in the program. Applications to  the  Authority for financing of any Clean Coal, Coal, Energy Efficiency Project, or Renewable Energy Project shall be reviewed  by the Authority. Upon submission of any such application, the Authority staff  shall review the application for its completeness and may, at the discretion of  the Authority staff, request such additional information as it deems necessary  or advisable to aid in review. If the Authority receives applications for  financing for Clean Coal, Coal, Energy Efficiency Project, or Renewable Energy Projects in excess of the bond  authorization  available for such financing at any one time, it shall consider applications in  the order of priority as it shall determine, in consultation with other State  agencies, and consistent with State policy to promote environmentally preferable technology and energy independence.(Source: P.A. 96-103, eff. 1-1-10; 96-817, eff. 1-1-10.)