Terms Used In Illinois Compiled Statutes > 605 ILCS 15 - Dirksen Memorial Highway Act

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means a School Finance Authority created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Bonds: means bonds authorized to be issued by the Authority under Section 1E-65 of this Code. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Chairperson: means the Chairperson of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• District: means any school district having a population of not more than 500,000 that prior to the effective date of this amendatory Act of the 92nd General Assembly has had a Financial Oversight Panel established for the district under Section 1B-4 of this Code following the district's petitioning of the State Board of Education for the creation of the Financial Oversight Panel and for which the Financial Oversight Panel has been in existence for at least one year. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligations: means bonds and notes of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• Oversight: Committee review of the activities of a Federal agency or program.
• Quorum: The number of legislators that must be present to do business.
• State Board: means the State Board of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10
• State Superintendent: means the State Superintendent of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10