(70 ILCS 1850/5.1) (from Ch. 19, par. 405.1)
Sec. 5.1.
The District is authorized and empowered to establish,
organize, own, acquire, participate in, operate, sell
and transfer Export Trading Companies, whether as shareholder, partner, or
co-venturer, alone or in cooperation with federal, state or local governmental
authorities, federal, state or national banking associations, or any other
public or private corporation or person or persons. The term "Export Trading
Companies" means a person, partnership, association, public or private corporation
or similar organization, whether operated for profit or not for profit, which
is organized and operated principally for purposes of exporting goods or
services produced in the United States, importing goods or services produced
in foreign countries, conducting third-country trading or facilitating such
trade by providing one or more services in support of such trade. Such
Export Trading Companies and all of the property thereof, wholly or partly
owned, directly or indirectly, by the District, shall have the same privileges
and immunities as accorded to the District; and Export Trading Companies
may borrow money or obtain financial assistance from private lenders or
federal and state governmental authorities or issue general obligation and
revenue bonds with the same kinds of security, and in accordance with the
same procedures, restrictions and privileges applicable when the District
obtains financial assistance or issues bonds for any of its other authorized
purposes. Such Export Trading Companies are authorized, if necessary or
desirable, to apply for certification under Title II or Title III of the Export
Trading Company Act of 1982.
(Source: P.A. 84-993.)
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