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| Public Act 097-0760 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Finance Authority Act is amended by | ||||
changing Sections 820-10 and 820-35 as follows:
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(20 ILCS 3501/820-10)
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Sec. 820-10. Definitions. The following words or terms, | ||||
whenever used or
referred to in
this Article, shall have the | ||||
following
meanings ascribed to them, except where the context | ||||
clearly requires otherwise:
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(a) "Department" means the Illinois Department of Commerce | ||||
and Economic
Opportunity.
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(b) "Unit of local government" means any unit of local | ||||
government, as
defined
in Article VII, Section 1 of the 1970 | ||||
State Constitution and any local public
entity as that term is | ||||
defined by the Local Governmental and Governmental
Employees | ||||
Tort Immunity Act and also includes the State and any
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instrumentality,
office, officer, department, division, | ||||
bureau, commission, college or
university
thereof.
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(c) "Energy conservation project" means any improvement, | ||||
repair, alteration
or
betterment of any building or facility or | ||||
any equipment, including but not limited to an Energy | ||||
Efficiency Project, as defined in item (iii) of subsection (b) | ||||
of Section 825-65, in connection with any school district or | ||
community college district project, and any fixture or | ||
furnishing
including its energy using mechanical devices to be | ||
added to or used in any
building or facility that the Director | ||
of the Department has certified to the
Authority will be a | ||
cost-effective energy-related project that will lower
energy
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or utility costs in connection with the operation or | ||
maintenance of such
building or facility, and will achieve | ||
energy cost savings sufficient to cover
bond debt service and | ||
other project costs within 10 years from the date of
project | ||
installation.
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(Source: P.A. 93-205, eff. 1-1-04.)
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(20 ILCS 3501/820-35)
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Sec. 820-35.
The Authority may shall assist the Department | ||
to establish and
implement a program to assist units of local | ||
government to identify and arrange
financing for energy | ||
conservation projects in buildings and facilities owned or
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leased by units of local government.
Such bonds shall not | ||
constitute an indebtedness or obligation of the State of
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Illinois and it shall be plainly stated on the face of each | ||
bond that it does
not constitute such an indebtedness or | ||
obligation but is payable solely from
the
revenues, income or | ||
other assets of the Authority pledged therefor.
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(Source: P.A. 93-205, eff. 1-1-04.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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