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| | SB2065 Engrossed | | LRB102 16925 KTG 22338 b |
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| 1 | | AN ACT concerning State government.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Housing Development Act is amended |
| 5 | | by changing Section 22 as follows:
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| 6 | | (20 ILCS 3805/22) (from Ch. 67 1/2, par. 322)
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| 7 | | Sec. 22.
(a) The Authority shall not have outstanding at |
| 8 | | any one time
bonds and notes for any of its corporate purposes |
| 9 | | in an aggregate
principal amount exceeding $7,200,000,000 |
| 10 | | $3,600,000,000, excluding
bonds and notes
issued to refund |
| 11 | | outstanding bonds and notes.
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| 12 | | (b) Of the authorized aggregate principal amount of |
| 13 | | $7,200,000,000 $3,600,000,000 provided
for by this Section, |
| 14 | | the amount of $150,000,000 shall be used for the purposes
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| 15 | | specified in Sections 7.23 and 7.24 of this Act.
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| 16 | | (c) Of the $1,000,000,000 authorized by this amendatory |
| 17 | | Act of 1985, an
amount not less than $100,000,000 shall be |
| 18 | | reserved for financing
developments which involve the |
| 19 | | rehabilitation of dwelling accommodations,
subject to the |
| 20 | | occupancy reservation of low or moderate income persons or
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| 21 | | families as provided in this Act.
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| 22 | | (Source: P.A. 87-250; 87-884; 88-93.)
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