(110 ILCS 805/3A-26) (from Ch. 122, par. 103A-26)
Sec. 3A-26.
Any board is authorized to:
a. Acquire by purchase, construct, enlarge, improve, equip, complete,
operate, control and manage an exhibition facility.
b. Charge for the use of such a facility.
c. Hold in its treasury all funds derived from the operation of the
facility and apply them toward the retirement of any revenue bonds issued
in connection with the facility.
d. Enter into contracts touching in any manner any matter within the
objects and purposes of Sections 3A-25 through 3A-29.
e. Pledge the revenues raised from such a facility for the payment of
any bonds issued to pay for the facility as provided in Sections 3A-25
through 3A-29.
f. Borrow money and issue and sell bonds at such price as the board may
determine to finance and to refund or refinance any and all bonds issued
and sold by the board pursuant to Sections 3A-25 through 3A-29. No bonds
issued under Sections 3A-25 through 3A-29, however, may bear interest in
excess of
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, computed to the maturity of the bonds.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been supplementary
grants of
power to issue instruments in accordance with the Omnibus Bond Acts,
regardless of any provision of this Act that may appear to be or to have
been more restrictive than those Acts, (ii)
that the provisions of this Section are not a limitation on the
supplementary authority granted by the Omnibus Bond
Acts,
and (iii) that instruments issued under this
Section within the supplementary authority granted by the Omnibus Bond Acts
are not invalid
because of any provision of this Act that may appear to be or to have been
more restrictive than those Acts.
(Source: P.A. 86-4.)
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