110 ILCS 73/1
Short title
Short title. This Act may be cited as the State University Certificates of Participation Act. (Source: P.A. 96-15, eff. 6-22-09.)
Illinois Compiled Statutes 110 ILCS 73 — State University Certificates of Participation Act.
Illinois · statute · 110 ILCS 73 · 11 active provisions
110 ILCS 73/5
Definitions
Definitions. As used in this Act: "Board" means the Board of Trustees of a State University. "Commission" means the Commission on Government Forecasting and Accountability. "State University" means the University of Illinois, Southern Illinois University, Chicago State University, Eastern Illinois University, Governors…
110 ILCS 73/10
Certificates of participation
Certificates of participation. (a) The power of the Board of any State University to enter into contracts includes the power to enter into financing agreements in connection with the financing of capital improvements (including technology or other related improvements) by selling certificates of participation in the in…
110 ILCS 73/15
Accountability and review of proposed certificate issuance
Accountability and review of proposed certificate issuance. Before issuance of any certificate of participation, a State University shall appear before the Commission and present the details of the proposal. This presentation shall include such information as the Commission may request in relation to the proposed certi…
110 ILCS 73/20
Annual reporting
Annual reporting. Prior to December 31 of each year, each State University shall file with the Commission a report stating the status of all outstanding certificates of participation the State University has issued and a copy of the annual budget as approved by the Board. (Source: P.A. 96-15, eff. 6-22-09.)
110 ILCS 73/25
Required statement on certificate of participation documents
Required statement on certificate of participation documents. Each issuance of a certificate of participation shall include within the appropriate documents related to its execution the following statement, which sets forth required limitations in relation to the certificate: THE BOARD OF TRUSTEES' OBLIGATION TO MAKE I…
110 ILCS 73/30
Debt limit
Debt limit. The maximum annual debt service for a State University's total certificate of participation obligation must not exceed the following: (1) For the University of Illinois, $100,000,000. (2) For Southern Illinois University, $20,000,000. (3) For Northern Illinois University, $20,000,000. (4) For Illinois State…
110 ILCS 73/90
Expiration of Act
Expiration of Act. This Act applies until December 31, 2014. However, the refunding of certificates of participation issued prior to December 31, 2014 in accordance with the Act is permitted. (Source: P.A. 96-15, eff. 6-22-09.)
110 ILCS 73/95
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 96-15, eff. 6-22-09; text omitted.)
110 ILCS 73/97
(Amendatory provisions; text omitted)
(Amendatory provisions; text omitted). (Source: P.A. 96-15, eff. 6-22-09; text omitted.)
110 ILCS 73/99
Effective date
Effective date. This Act takes effect upon becoming law. (Source: P.A. 96-15, eff. 6-22-09.)