65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/Art. 11 Div. 12.1

(65 ILCS 5/Art. 11 Div. 12.1 heading) DIVISION 12.1.

REVENUE BONDS FOR CONSERVATION

PLAN AREAS

65 ILCS 5/11-12.1-1

(65 ILCS 5/11-12.1-1) (from Ch. 24, par. 11-12.1-1)

Sec. 11-12.1-1.

Any municipality which has a Conservation Board or
Department of Urban Renewal, pursuant to the "Urban Community Conservation
Act", as heretofore and hereafter amended, or the "Urban Renewal
Consolidation Act of 1961", enacted by the Seventy-Second General
Assembly, as the case may be, may borrow money and issue and sell bonds
in one or more series and in such amount, or amounts, as the corporate
authorities may determine for the purpose of creating, owning and managing
a pool of funds for the purchase of mortgage loans on properties within any
area affected by a Conservation Plan approved by the municipality pursuant
to the "Urban Community Conservation Act" or the "Urban Renewal
Consolidation Act of 1961", enacted by the Seventy-Second General Assembly,
as such acts are heretofore and hereafter amended, and to sell and refund
and refinance the same from time to time as often as shall be advantageous
and to the public interest to do so.
Any bonds issued under this Section as limited bonds as defined in Section 3
of
the Local Government Debt Reform Act shall comply with the requirements of the
Bond Issue Notification Act.

(Source: P.A. 89-655, eff. 1-1-97.)