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| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 001 ] |
91_HB1968enr HB1968 Enrolled LRB9104759MWks 1 AN ACT to amend the Illinois Farm Development Act by 2 changing Section 11. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Illinois Farm Development Act is amended 6 by changing Section 11 as follows: 7 (20 ILCS 3605/11) (from Ch. 5, par. 1211) 8 Sec. 11. Bonded indebtedness limitation. The Authority 9 shall not have outstanding at any one time bonds and notes 10 for any of its corporate purposes in an aggregate principal 11 amount exceeding $300,000,000, $50,000,000 of which shall be 12 used for research and development purposes, excluding bonds 13 and notes issued to refund outstanding bonds and notes and 14 excluding the State Guarantees under Sections 12.1, 12.2, 15 12.4, and 12.5. The Authority shall not have outstanding at 16 any one time State Guarantees under Section 12.1 in an 17 aggregate principal amount exceeding $160,000,000. The 18 Authority shall not have outstanding at any one time State 19 Guarantees under Sections 12.2, 12.4, and 12.5 in an 20 aggregate principal amount exceeding $75,000,000$50,000,000. 21 (Source: P.A. 89-527, eff. 7-19-96; 90-325, eff. 8-8-97.) 22 Section 99. Effective date. This Act takes effect upon 23 becoming law.