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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(110 ILCS 945/6.14) (from Ch. 144, par. 1606.14)
Sec. 6.14.
Combining Education Loan series portfolios for financing
purposes. Notwithstanding any other provision contained in this Act, to
comingle and pledge as security for a series or issue of Bonds, with the
consent of all of the institutions of higher education and education loan
corporations which are participating
in such series or issue, (a) the Education loan series portfolios and some
or all future Education loan series portfolios of such institutions of higher
education and education loan corporations, and (b) the loan funding
deposits of such institutions and education loan corporations provided
that Education loan series portfolios and other security and
monies set aside in any fund or funds pledged for any series of Bonds or
issue of Bonds shall be held for the sole benefit of such series or issue
separate and apart from Education loan series portfolios and other security
and monies pledged for any other series or issue of Bonds of the Authority.
Bonds may be issued in series under one or more resolutions or trust agreements
in the discretion of the Authority.
(Source: P.A. 85-1326.)
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