Illinois Code § 70 ILCS 200/20-27

Bonds; nature of indebtedness.
Open in Lexace · Ask the AI about this section
Under no
circumstances shall any bonds issued by the Authority
under Section 20-25 be or become an indebtedness or
obligation
of the State of Illinois or of any other political subdivision of or
municipality
within the State, nor shall any such bond be or become an indebtedness of
the Authority within the purview of any constitutional limitation or provision,
and it shall be plainly stated on the face of each such bond that it does
not constitute such an indebtedness or obligation but is payable solely
from the revenues or income as aforesaid.

‹ 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.