Illinois Compiled Statutes 110 ILCS 676/21-35 – Validity of Bonds
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Terms Used In Illinois Compiled Statutes 110 ILCS 676/21-35
- Acquire: includes to purchase, erect, build, construct, reconstruct, complete, repair, replace, alter, extend, better, equip, develop, and improve a project, including the acquisition and clearing of a site or sites therefor. See Illinois Compiled Statutes 110 ILCS 676/21-5
- Board: means the Board of Trustees of the University or its successor. See Illinois Compiled Statutes 110 ILCS 676/21-5
- Dependent: A person dependent for support upon another.
- Project: means and includes revenue producing buildings, structures and facilities which, as determined by the Board, are required by, or necessary for the use or benefit of, such University, including, without limiting the generality of the foregoing, student residence halls; apartments; staff housing facilities; dormitories; health, hospital or medical facilities; dining halls; student union buildings; field houses; stadiums; physical education installations and facilities; auditoriums; facilities for student or staff services; any facility or building leased to the United States of America; off-street parking facilities; heretofore, or as may be hereafter, acquired, with all equipment and appurtenant facilities; or any one, or more than one, or all, of the foregoing, or any combination thereof, for such University. See Illinois Compiled Statutes 110 ILCS 676/21-5
The bonds bearing the signatures of officers of the Board in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all persons whose signatures appear thereon shall have ceased to be such officers. The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings to acquire any project financed by the bonds, or to refund outstanding bonds, or taken in connection therewith.