§ 1 Short title
§ 5 Purposes
§ 10 Definitions
§ 15 Petition and public hearing
§ 20 Election
§ 25 Board of commissioners; Appointment
§ 30 Terms of office
§ 35 Organization; officers; meetings; compensation
§ 40 Powers and duties
§ 42 Eminent domain
§ 45 Regulations and ordinances; violation
§ 50 Eminent domain
§ 55 Procedures
§ 60 Official records; bond for officers and employees
§ 65 Change of name
§ 70 Budget and appropriation
§ 75 Local occupation and use taxes
§ 80 Bonds and notes payable from revenue
§ 85 Existing jurisdictions
§ 90 Cooperation with other governments
§ 95 Transfer of existing facilities
§ 100 Moneys of the Authority
§ 105 Contracts
§ 110 Exemption from taxation
§ 115 Dissolution; referendum
§ 120 Supremacy of compact
§ 195 This Act takes effect upon becoming law

Terms Used In Illinois Compiled Statutes > 45 ILCS 35 - Quad Cities Interstate Metropolitan Authority Act

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Quorum: The number of legislators that must be present to do business.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Trustee: A person or institution holding and administering property in trust.