(65 ILCS 5/11-74.4-10) (from Ch. 24, par. 11-74.4-10)
Sec. 11-74.4-10.
Revenues received by the municipality from any property,
building or facility owned, leased or operated by the municipality or any
agency or authority established by the municipality, or from repayments of
loans,
may be used to pay redevelopment
project costs, or reduce outstanding obligations of the municipality incurred
under this Division for redevelopment project costs. The municipality may
place such revenues in the special tax allocation fund which shall be held
by the municipal treasurer or other person designated by the municipality.
Revenue received by the municipality from the sale or other disposition
of real property acquired by the municipality with the proceeds of obligations
funded by tax increment allocation financing shall be deposited by the
municipality
in the special tax allocation fund.
(Source: P.A. 93-298, eff. 7-23-03.)
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(65 ILCS 5/11-74.4-11) (from Ch. 24, par. 11-74.4-11)
Sec. 11-74.4-11.
If any Section, subdivision, paragraph, sentence or clause
of this Division is, for any reason, held to be invalid or unconstitutional,
such decision shall not affect any remaining portion, Section or part thereof
which can be given effect without the invalid provision.
(Source: P.A. 79-1525.)
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(65 ILCS 5/11-74.4-12) Sec. 11-74.4-12. Metro East Police District. A municipality may use moneys from the special tax allocation fund to hire police officers, if the corporate authorities of the municipality determine by ordinance or resolution that, as a result of the development associated with the tax increment financing, more police officers are needed to protect the public health and safety of the residents, and the municipality is: (i) within the territory of the Metro East Police District created under the Metro East Police District Act, or (ii) contiguous to 2 or more municipalities within the territory of the Metro East Police District and having a population of more than 5,000 inhabitants, according to the 2000 federal census. The moneys used to hire police officers may amount to no more than 10% of the funds available.
(Source: P.A. 97-971, eff. 1-1-13.) |