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30 ILCS 105/8.25f
(30 ILCS 105/8.25f)
(from Ch. 127, par. 144.25f)
McCormick Place Expansion Project Fund.
(a) Deposits. The following amounts shall be deposited into the
McCormick Place Expansion Project Fund in the State Treasury: (i) the
moneys required to be deposited into the Fund under Section 9 of the Use
Tax Act, Section 9 of the Service Occupation Tax Act, Section 9 of the
Service Use Tax Act, and Section 3 of the Retailers' Occupation Tax Act and
(ii) the moneys required to be deposited into the Fund under subsection (g) of Section 13 of
the Metropolitan Pier and Exposition Authority Act. Notwithstanding the
foregoing, the maximum amount that may be deposited into the McCormick
Place Expansion Project Fund from item (i) shall not exceed the Total Deposit
amounts with respect to the following fiscal years:
each fiscal year thereafter
that bonds are outstanding
under Section 13.2 of the
Metropolitan Pier and Exposition
Authority Act, but not after
fiscal year 2060.
Provided that all amounts deposited in the Fund and requested in the
Authority's certificate have been paid to the Authority, all amounts
remaining in the McCormick Place Expansion Project Fund on the last day of
any month shall be transferred to the General Revenue Fund.
(b) Authority certificate. Beginning with fiscal year 1994 and
continuing for each fiscal year thereafter, the Chairman of the
Metropolitan Pier and Exposition Authority shall annually certify to the
State Comptroller and the State Treasurer the amount necessary and
required, during the fiscal year with respect to which the certification is
made, to pay the debt service requirements (including amounts to be paid
with respect to arrangements to provide additional security or liquidity)
on all outstanding bonds and notes, including refunding bonds,
(collectively referred to as "bonds") in an amount issued by the Authority
pursuant to Section 13.2 of the Metropolitan Pier and Exposition Authority
Act. The certificate may be amended from time to time as necessary.
(Source: P.A. 101-636, eff. 6-10-20.)