§ 50 ILCS 420/0.01 Short title
§ 50 ILCS 420/1 As used in this Act “Unit of Government” means any county, …
§ 50 ILCS 420/2 Any Unit of Government may issue from time to time general obligation …
§ 50 ILCS 420/3 The Notes shall bear interest at a rate or rates not to exceed that …
§ 50 ILCS 420/4 Adoption of ordinance or resolution
§ 50 ILCS 420/4.1 (a) The purpose of this Section is to provide a means for units of …
§ 50 ILCS 420/5 From and after the Notes have been issued as provided for by this …
§ 50 ILCS 420/6 The Notes shall be executed in the name of the Unit of Government by …
§ 50 ILCS 420/7 The Notes may be issued in excess of any statutory limitation as to …
§ 50 ILCS 420/8 This Act without reference to any other statute, shall be deemed full …
§ 50 ILCS 420/9 If any Section, sentence, or clause of this Act is for any reason …

Terms Used In Illinois Compiled Statutes > 50 ILCS 420 - Tax Anticipation Note Act

  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Statute: A law passed by a legislature.
  • Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28