Illinois Compiled Statutes 65 ILCS 5/11-74.5-10 – Neither the members of the corporate authorities of a municipality, …
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Terms Used In Illinois Compiled Statutes 65 ILCS 5/11-74.5-10
- Bonds: means any revenue bonds authorized under this Division and payable as provided hereunder. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
- Corporate authorities: means the corporate authorities as defined in this Illinois Municipal Code. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
- Municipality: means a municipality as defined in this Illinois Municipal Code. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
- Person: means a natural person or persons or a trust, provided that such trust is for the benefit of a natural person or members of such person's immediate family. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
Neither the members of the corporate authorities of a municipality, nor any official or employee thereof, nor any person executing bonds issued under this Division shall be liable personally for payment of the bonds or the interest or redemption premium, if any, thereon or be subject to any personal liability or accountability by reason of the issuance thereof.