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30 ILCS 750/9-4.2
(30 ILCS 750/9-4.2) (from Ch. 127, par. 2709-4.2)
Sec. 9-4.2. Illinois Capital Revolving Loan Fund.
(a) There is hereby created the Illinois Capital
Revolving Loan Fund, hereafter referred to in this Article as the
"Capital Fund" to be held as a separate fund within the State
Treasury.
The purpose of the Capital Fund is to finance intermediary agreements,
administration, technical assistance agreements,
loans, grants, or investments in Illinois. In addition, funds may be
used
for a one time transfer in fiscal year 1994, not to exceed the amounts
appropriated, to the Public Infrastructure Construction Loan Revolving Fund for
grants and loans pursuant to the Public Infrastructure Loan and Grant Program
Act. Investments, administration,
grants, and financial aid shall be used for the purposes set for in this
Article. Loan financing will be in the
form of
loan agreements pursuant to the terms and conditions set
forth in this Article. All loans shall be conditioned on the
project receiving financing from participating lenders or other investors.
Loan
proceeds shall be available for project costs, except for
debt refinancing.
(b) There shall be deposited in the Capital Fund
such amounts, including but not limited to:
(i) All receipts, including dividends, principal and | | interest payments and royalties, from any applicable loan, intermediary, or technical assistance agreement made from the Capital Fund or from direct appropriations from the Build Illinois Bond Fund or the General Revenue Fund by the General Assembly entered into by the Department;
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(ii) All proceeds of assets of whatever nature
| | received by the Department as a result of default or delinquency with respect to loan agreements made from the Capital Fund or from direct appropriations by the General Assembly, including proceeds from the sale, disposal, lease or rental of real or personal property which the Department may receive as a result thereof;
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(iii) Any appropriations, grants or gifts made to the
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(iv) Any income received from interest on investments
| | of moneys in the Capital Fund;
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(v) All moneys resulting from the collection of
| | premiums, fees, charges, costs, and expenses in connection with the Capital Fund as described in subsection (e) of Section 9-3.
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(c) The Treasurer may invest moneys in the Capital
Fund in securities constituting obligations of the United
States Government, or in obligations the principal of and
interest on which are guaranteed by the United States Government,
in obligations the principal of and interest on which
are guaranteed by the United States Government, or in certificates
of deposit of any State or national bank which are
fully secured by obligations guaranteed as to principal and
interest by the United States Government.
(Source: P.A. 102-1071, eff. 6-10-22.)
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