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| 1 | AN ACT concerning State government.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Finance Authority Act is amended by | ||||||
| 5 | changing Sections 820-10 and 820-35 as follows:
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| 6 | (20 ILCS 3501/820-10)
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| 7 | Sec. 820-10. Definitions. The following words or terms, | ||||||
| 8 | whenever used or
referred to in
this Article, shall have the | ||||||
| 9 | following
meanings ascribed to them, except where the context | ||||||
| 10 | clearly requires otherwise:
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| 11 | (a) "Department" means the Illinois Department of Commerce | ||||||
| 12 | and Economic
Opportunity.
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| 13 | (b) "Unit of local government" means any unit of local | ||||||
| 14 | government, as
defined
in Article VII, Section 1 of the 1970 | ||||||
| 15 | State Constitution and any local public
entity as that term is | ||||||
| 16 | defined by the Local Governmental and Governmental
Employees | ||||||
| 17 | Tort Immunity Act and also includes the State and any
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| 18 | instrumentality,
office, officer, department, division, | ||||||
| 19 | bureau, commission, college or
university
thereof.
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| 20 | (c) "Energy conservation project" means any improvement, | ||||||
| 21 | repair, alteration
or
betterment of any building or facility or | ||||||
| 22 | any equipment, including but not limited to an Energy | ||||||
| 23 | Efficiency Project, as defined in item (iii) of subsection (b) | ||||||
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| 1 | of Section 825-65, in connection with any school district or | ||||||
| 2 | community college district project, and any fixture or | ||||||
| 3 | furnishing
including its energy using mechanical devices to be | ||||||
| 4 | added to or used in any
building or facility that the Director | ||||||
| 5 | of the Department has certified to the
Authority will be a | ||||||
| 6 | cost-effective energy-related project that will lower
energy
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| 7 | or utility costs in connection with the operation or | ||||||
| 8 | maintenance of such
building or facility, and will achieve | ||||||
| 9 | energy cost savings sufficient to cover
bond debt service and | ||||||
| 10 | other project costs within 10 years from the date of
project | ||||||
| 11 | installation.
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| 12 | (Source: P.A. 93-205, eff. 1-1-04.)
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| 13 | (20 ILCS 3501/820-35)
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| 14 | Sec. 820-35.
The Authority may shall assist the Department | ||||||
| 15 | to establish and
implement a program to assist units of local | ||||||
| 16 | government to identify and arrange
financing for energy | ||||||
| 17 | conservation projects in buildings and facilities owned or
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| 18 | leased by units of local government.
Such bonds shall not | ||||||
| 19 | constitute an indebtedness or obligation of the State of
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| 20 | Illinois and it shall be plainly stated on the face of each | ||||||
| 21 | bond that it does
not constitute such an indebtedness or | ||||||
| 22 | obligation but is payable solely from
the
revenues, income or | ||||||
| 23 | other assets of the Authority pledged therefor.
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| 24 | (Source: P.A. 93-205, eff. 1-1-04.)
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| 25 | Section 99. Effective date. This Act takes effect upon | ||||||
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| 1 | becoming law.
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