Examples of Debt Reform Act in a sentence
Bond Authorization Act, 30 ILCS 305/2 Bond Issue Notification Act, 30 ILCS 352/ Local Government Debt Reform Act, 30 ILCS 350/.
These bonds must be identified as limited bonds by the governing authority at the time they are issued under Section 3 of the Local Government Debt Reform Act.
Section 17(b) of the Debt Reform Act also authorizes the Village to purchase real or personal property pursuant to an installment contract with a maximum term of 20 years.
Debt Reform Act – The Local Government Debt Reform Act of the State of Illinois, as amended.
The intent of the Debt Reform Act is for the enterprise revenues or the revenue source to be sufficient to pay the debt service on the alternate bonds so that taxes need not be extended for such payment.
Section 9 of the Debt Reform Act allows the Village to use bond proceeds topay capitalized interest on its bonds for a period not to exceed the greater of: (1) two years or (2) a period ending six months after the estimated date of (a) completion of the acquisition and construction of the project or (b) accomplishment of the purpose for which the bonds are issued.
The Convenience Series will conform to Illinois state statutes governing public funds, specifically the Public Funds Investment Act, the Public Funds Deposit Act, and the Debt Reform Act.
Leases – The Village may lease real or personal property for a term not exceeding20 years under Section 17(b) of the Debt Reform Act.
Under the Debt Reform Act, bond ordinances become effective immediately without publication or posting or any further act or requirement, except for ordinances required to be published by applicable law in connection with a backdoor referendum.
Section 10 of the Debt Reform Act permits the Village to sell bonds at a discount.