Illinois Code § 110 ILCS 615/10

Obligations of board.
Open in Lexace · Ask the AI about this section
All bonds issued pursuant to this Act shall be obligations of the Board
payable only in accordance with the terms thereof and shall not be
obligations general, special or otherwise, of the State of Illinois. Such
bonds shall not constitute a debt, legal or moral, of the State of
Illinois, and shall not be enforceable against the State, nor shall payment
thereof be enforceable out of any funds of the Board, or of any University,
other than the income and revenues pledged and assigned to, or in trust for
the benefit of, the holder or holders of such bonds.

‹ Prev All Illinois sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.