(30 ILCS 350/3)
(from Ch. 17, par. 6903)
In this Act words or terms shall have the
following meanings unless the context or usage clearly indicates that
another meaning is intended.
(a) "Alternate bonds" means bonds issued in lieu of revenue bonds or
payable from a revenue source as provided in Section 15.
(b) "Applicable law" means any provision of law, including this Act,
authorizing governmental units to issue bonds.
(c) "Backdoor referendum" means the submission of a public question to
the voters of a governmental unit, initiated by a petition of voters,
residents or property owners of such governmental unit, to determine
whether an action by the governing body of such governmental unit shall be
effective, adopted or rejected.
(d) "Bond" means any instrument evidencing the obligation to pay money
authorized or issued by or on behalf of a governmental unit under
applicable law, including without limitation, bonds, notes, installment or
financing contracts, leases, certificates, tax anticipation warrants or
notes, vouchers, and any other evidences of indebtedness.
(e) "Debt service" on bonds means the amount of principal, interest and
premium, if any, when due either at stated maturity or upon mandatory
(f) "Enterprise revenues" means the revenues of a utility or revenue
producing enterprise from which revenue bonds may be payable.
(g) "General obligation bonds" means bonds of a governmental unit for
the payment of which the governmental unit is empowered to levy ad valorem
property taxes upon all taxable property in a governmental unit without
limitation as to rate or amount.
(h) "Governing body" means the legislative body, council, board,
commission, trustees, or any other body, by whatever name it is known, having
charge of the corporate affairs of a governmental unit.
(h-5) "Governmental revenue source" means a revenue source that is either
(1) federal or State funds that the governmental unit has received in some
amount during each of the 3 fiscal years preceding the issuance of alternate
bonds or (2) revenues to be received from another governmental unit under an
intergovernmental cooperation agreement.
(i) "Governmental unit" means a county, township, municipality,
municipal corporation, unit of local government, school district, special
district, public corporation, body corporate and
politic, forest preserve
district, fire protection district, conservation district, park district,
sanitary district, and all
other local governmental agencies, including any entity created by
intergovernmental agreement among any of the foregoing governmental units,
but does not include any office, officer, department, division, bureau,
board, commission, university, or similar agency of the State.
(j) "Ordinance" means an ordinance duly adopted by a governing body or,
if appropriate under applicable law, a resolution so adopted.
(k) "Revenue bonds" means any bonds of a governmental unit other than
general obligation bonds, but "revenue bonds" does include any debt
authorized under Section 11-29.3-1 of the Illinois Municipal Code.
(l) "Revenue source" means a source of funds, other than enterprise
revenues, received or available to be received by a governmental unit and
available for any one or more of its corporate purposes.
(m) "Limited bonds" means bonds, excluding leases, notes, installment or
financing contracts, certificates, tax anticipation warrants or notes,
vouchers, and any other evidences of indebtedness, issued under Section
15.01 of this Act.
(Source: P.A. 92-879, eff. 1-13-03.)