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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1416
Introduced 2/21/2007, by Rep. Kurt M. Granberg SYNOPSIS AS INTRODUCED:
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Amends the Illinois Finance Authority Act. Increases the aggregate limit on outstanding bonds from $25,200,000,000 to $30,000,000,000. Excludes from this limit bonds issued under the Illinois Environmental Facilities Financing Act.
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| FISCAL NOTE ACT MAY APPLY | |
STATE DEBT IMPACT NOTE ACT MAY APPLY |
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A BILL FOR
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HB1416 |
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LRB095 09804 RCE 30014 b |
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| AN ACT concerning finance.
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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 |
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| changing Section 845-5 as follows:
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| (20 ILCS 3501/845-5)
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| Sec. 845-5. The Authority may not have outstanding at any |
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| one time bonds
for any of its corporate purposes in an |
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| aggregate principal amount exceeding $30,000,000,000
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| $25,200,000,000, excluding bonds issued to refund the bonds of |
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| the Authority or
bonds of the Predecessor Authorities and |
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| excluding bonds issued under the Illinois Environmental |
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| Facilities Financing Act.
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| (Source: P.A. 93-205, eff. 1-1-04; 93-1101, eff. 3-31-05; |
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| 94-1068, eff. 8-1-06.)
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