Illinois Compiled Statutes 70 ILCS 215 — Fair and Exposition Authority Reconstruction Act.

This Act shall be known and may be cited as the "Fair and Exposition Authority Reconstruction Act"

This Act shall be known and may be cited as the "Fair and Exposition Authority Reconstruction Act". (Source: Laws 1967, p. 2350.)

As used in this Act: "Authority" means the Metropolitan Pier and Exposition Authority created by the Metropolitan Pier and Exposition Authority Act

As used in this Act: "Authority" means the Metropolitan Pier and Exposition Authority created by the Metropolitan Pier and Exposition Authority Act. "Board" means the governing and administrative body of the Metropolitan Pier and Exposition Authority. (Source: P.A. 87-895.)

The Metropolitan Pier and Exposition Authority is authorized to borrow money and issue bonds in a total amount not to exceed $40,000,000 for the purpose of reconstructing the convention hall and exposition building known as McCormick Place. Such bonds shall be payable solely from funds received by the Authority from ap…

The bonds shall mature not more than 10 years from the date of issuance, but shall be callable sooner at the option of the Authority, and shall bear interest at a rate not to exceed the maximum rate authorized by the Bond Authorization Act, as amended at the time of the making of the contract, payable semiannually. Wit…

The bonds shall be dated, issued and sold from time to time in such amounts as may be necessary to provide sufficient money for the purpose provided for in Section 3 and for the funding of the interest on such bonds for the period between the date of issuance and November 1, 1972. (Source: Laws 1967, p. 2350.)

The bonds shall be sold by the Authority in such manner as the Board may determine at not less than 95% of par

The bonds shall be sold by the Authority in such manner as the Board may determine at not less than 95% of par. (Source: Laws 1967, p. 2350.)

Such bonds may be in such form, may have such interest coupons, may carry such registration privileges, may be executed in such manner, may be payable at such place or places, may be subject to redemption in such manner and upon such terms, with or without premium as is stated on the face thereof, and may contain such…

Appropriations may be made from time to time by the General Assembly to the Metropolitan Pier and Exposition Authority for the payment of principal and interest of bonds of the Authority issued under the provisions of this Act and for any other lawful purpose of the Authority. Any and all of the funds so received shall…

Under no circumstances shall any bonds issued by the Authority pursuant to this Act be or become an indebtedness or obligation of the State of Illinois or of any other political subdivision of or municipality within the State, nor shall any such bond be or become an indebtedness of the Authority within the purview of a…

The State and all counties, cities, villages, incorporated towns and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment…