(30 ILCS 425/14) (from Ch. 127, par. 2814)
Sec. 14.
State Covenant.
The State of Illinois irrevocably
covenants and agrees with the holders of Bonds issued pursuant to this Act
that the State will not limit or alter (a) the basis on which the taxes and
revenues of the State are required to be
collected and deposited in the Build Illinois Fund created under "An
Act in relation to State finance", approved June 10, 1919, as amended,
pursuant to Section 6z-9 of that Act and
to be credited to and transferred from the Build Illinois Bond Account
pursuant to Section 8.25 of that
Act; (b) the basis on which transfers
of amounts credited to the Build Illinois Bond Account are required to be
made to the Build Illinois
Bond Retirement and Interest Fund;
(c) the purposes of the Build Illinois
Bond Retirement and Interest Fund; or (d)
the provisions of this Section 14, or of Sections 11, 12 and
13 of this Act or the provisions of Sections 6z-9 or 8.25 of "An Act in
relation to State finance", approved June 10, 1919, as amended,
so as to impair, in any of the foregoing respects, the obligations of
contract incurred by the State in favor of the holders of
Bonds issued under this Act. The covenant and
agreement set forth in this Section may be included in any Bond Sale Order,
trust indenture, agreement or Bond authorized under this Act.
(Source: P.A. 84-111.)
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