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Public Act 91-0611
HB1968 Enrolled LRB9104759MWks
AN ACT to amend the Illinois Farm Development Act by
changing Section 11.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Farm Development Act is amended
by changing Section 11 as follows:
(20 ILCS 3605/11) (from Ch. 5, par. 1211)
Sec. 11. Bonded indebtedness limitation. The Authority
shall not have outstanding at any one time bonds and notes
for any of its corporate purposes in an aggregate principal
amount exceeding $300,000,000, $50,000,000 of which shall be
used for research and development purposes, excluding bonds
and notes issued to refund outstanding bonds and notes and
excluding the State Guarantees under Sections 12.1, 12.2,
12.4, and 12.5. The Authority shall not have outstanding at
any one time State Guarantees under Section 12.1 in an
aggregate principal amount exceeding $160,000,000. The
Authority shall not have outstanding at any one time State
Guarantees under Sections 12.2, 12.4, and 12.5 in an
aggregate principal amount exceeding $75,000,000 $50,000,000.
(Source: P.A. 89-527, eff. 7-19-96; 90-325, eff. 8-8-97.)
Section 99. Effective date. This Act takes effect upon
becoming law.
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