(65 ILCS 5/8-4.1-2) (from Ch. 24, par. 8-4.1-2)
Sec. 8-4.1-2.
In addition to other words and terms as
defined in this Code, the following words or terms shall as used in this
Division have the meanings set forth opposite each unless the context or
usage clearly indicates that another meaning is intended.
"Applicable Law" means any provision of this Code or any other provision
of law authorizing municipalities to issue Bonds.
"Backdoor Referendum" means the submission of a public question to the
voters of a municipality, initiated by a petition of voters or residents or
property owners of such municipality, to determine whether an action by the
corporate authorities of such municipality shall be effective, adopted or rejected.
"Bonds" means any instrument evidencing the obligation to pay money
authorized or issued by or on behalf of a municipality under Applicable Law
including, without limiting the generality of the foregoing, bonds, notes,
installment or financing contracts, leases, certificates, tax anticipation
warrants or notes, vouchers, or any evidence of indebtedness.
"General Obligation Bonds" means Bonds of a municipality for the payment
of which the municipality is empowered to levy ad valorem property taxes
upon all taxable property in the municipality without limitation as to rate or amount.
"Municipality" for the purpose of this Division also includes water
commissions under Division 135 of Article 11 of this Code or any other entity
created by intergovernmental agreement and comprised solely of cities,
villages, or incorporated towns.
"Revenue Bonds" means any Bonds of a municipality other than General Obligation Bonds.
(Source: P.A. 85-158.)
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