(315 ILCS 25/6a) (from Ch. 67 1/2, par. 91.13a)
Sec. 6a.
Federal loans and grants.
The Municipality may borrow money or other property and accept
contributions, capital grants, gifts, donations, services or other
financial assistance from the United States of America, the Housing and
Home Finance Agency, or any other agency or instrumentality, corporate or
otherwise, of the United States of America, the State, County, Municipality
or other public body, or from any sources, public or private, for or in aid
of any of the purposes of this Act, and to these ends, may comply with such
conditions and enter into such agreements (including loan contracts and
contracts for financial aid) upon such covenants, terms and conditions as
the Municipality may deem necessary, convenient or desirable. The
Municipality is hereby authorized to issue debentures, notes, special
certificates or other evidences of indebtedness to the United States of
America, or any agency or instrumentality thereof, the State, County,
Municipality or other public body, or from any sources, public or private,
in order to secure loans for or in aid of any of the purposes of this Act:
Provided however, that any such debentures, notes, special certificates, or
other evidences of indebtedness, issued to the United States of America, or
any agency or instrumentality thereof, the State, County, Municipality or
other public body, or from any sources, public or private, shall be payable
solely out of proceeds from the sale of real property pursuant to Section 6
hereof, out of any revenue from the operation and management, or
demolition, of existing housing or other buildings or improvements located
on any real property acquired by the Municipality pursuant to this Act, out
of such capital grants as the Municipality may receive from the United
States of America, or any agency or instrumentality thereof, or out of any
local grants-in-aid as defined in Section 110 of the Act of Congress
approved July 15, 1949, being Public Law 171--81st Congress, known as the
"Housing Act of 1949" as amended which the Municipality or any other
municipal corporation, commission, district, authority or other subdivision
or public body of the State or any other entity may make in connection with
the implementation of a conservation plan for a conservation area as
defined herein.
Neither the members of the governing body or the Conservation Board nor
any person executing such evidences of indebtedness shall be liable
personally thereon by reason of the issuance thereof. Such evidences of
indebtedness (and the same shall so state on their face) shall not be
payable out of any funds or properties of a Municipality or a Conservation
Board other than those enumerated in the first paragraph of this Section.
Such obligations shall not constitute an indebtedness within the meaning of
any constitutional or statutory debt limitation or restriction.
(Source: Laws 1959, p. 2200.)
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