§ 0.01 Short title
§ 1 As used in this act; (1) The term “party …
§ 2 (a) Governmental units in each of the party states are hereby …
§ 3 (a) A party state shall not be obligated to appropriate funds of the …
§ 4 The airport authority shall have the power to: …
§ 4.5 Eminent domain
§ 5 This authority to combine into an airport authority shall become …
§ 6 The provisions herein shall be severable; and, if any phrase, clause, …
§ 7 Prior to the commencement of proceedings for the acquisition and …

Terms Used In Illinois Compiled Statutes > 70 ILCS 10 - Interstate Airport Authorities Act

  • 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.
  • 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.
  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • 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.
  • Personal property: All property that is not real property.
  • 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.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14