65 ILCS 5/11-74.6-45

(65 ILCS 5/11-74.6-45)

Sec. 11-74.6-45. Expenditure of certain revenues.

(a) Revenues received by the municipality from any property, building or facility owned, leased or operated by the municipality or any agency or authority established by the municipality may be used to pay redevelopment project costs, or reduce outstanding obligations of the municipality incurred under this Law for redevelopment project costs. The municipality may deposit those revenues into a special tax allocation fund. The fund shall be held by the municipal treasurer or other person designated by the municipality. Revenue received by the municipality from the sale or other disposition of real property acquired by the municipality with the proceeds of obligations funded by tax increment allocation financing shall be deposited by the municipality into the special tax allocation fund.

(b) (Blank).

(Source: P.A. 91-474, eff. 11-1-99.)