Illinois Compiled Statutes 30 ILCS 365 — Revenue Producing Commercial Paper Act.

This Act shall be known and may be cited as the Revenue Producing Commercial Paper Act

This Act shall be known and may be cited as the Revenue Producing Commercial Paper Act. (Source: P.A. 83-1520.)

For the purposes of this Act, unless the context otherwise requires, the terms used herein shall have the following meanings ascribed to them: (a) "Interest-bearing commercial paper" means any interest-bearing negotiable instrument which meets the requirements of a commercial paper under Article 3 of the Uniform Commer…

Authority to issue paper

Authority to issue paper. Whenever a unit of local government or school district is authorized by law to issue bonds or notes, such unit of local government or school district is hereby authorized to issue other forms of interest-bearing commercial paper or variable rate remarketable notes in lieu of such bonds or note…