(50 ILCS 425/12)
Anticipation of certain federal revenues.
In the event the
anticipated revenues under this Act are proceeds or receipts of a loan or
both, from a federal agency in connection with waterworks or wastewater
or both, and related facilities, improvements, and costs, and reasonable
has been made for the payment of interest on the notes when due while the notes
are outstanding; (i) the requirement in Section 2 of this Act for a filing with
County Clerk shall not apply, (ii) the 12 month limit on the due date of the
Section 3 shall be 18 months, and (iii) the 85% limitation on the anticipatory
revenues in Section 7 of this Act shall be 100%.
(Source: P.A. 90-709, eff. 8-7-98.)