Terms Used In Illinois Compiled Statutes 65 ILCS 5/11-74.5-7

  • 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
  • Dependent: A person dependent for support upon another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Home: means real property and improvements thereon located within the municipality consisting of not more than 4 dwelling units, including but not limited to, condominium units owned by one mortgagor who occupies or intends to occupy one of such units. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipality: means a municipality as defined in this Illinois Municipal Code. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
  • Ordinance: means an ordinance adopted and approved by the corporate authorities of a municipality. See Illinois Compiled Statutes 65 ILCS 5/11-74.5-2
     The bonds shall bear the manual or facsimile signatures of such officers of a municipality as may be designated in the ordinance authorizing such bonds and such signatures shall constitute the valid and binding signatures of such officers, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers of such municipality. The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the home mortgage loans acquired or made from proceeds of the bonds. A recital in the bonds that they are issued pursuant to this Division shall be conclusive evidence of their validity and of the regularity of their issuance.
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