(65 ILCS 5/11-74.4-10)
(from Ch. 24, par. 11-74.4-10)
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, or from repayments of
may be used to pay redevelopment
project costs, or reduce outstanding obligations of the municipality incurred
under this Division for redevelopment project costs. The municipality may
place such revenues in the special tax allocation fund which 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
in the special tax allocation fund.
(Source: P.A. 93-298, eff. 7-23-03.)