§ 105 ILCS 5/1E-1 Short title
§ 105 ILCS 5/1E-5 Findings; purpose; intent
§ 105 ILCS 5/1E-10 Definitions
§ 105 ILCS 5/1E-15 Establishment of Authority; duties of district
§ 105 ILCS 5/1E-20 Members of Authority; meetings
§ 105 ILCS 5/1E-25 General powers
§ 105 ILCS 5/1E-30 Chief executive officer
§ 105 ILCS 5/1E-35 Chief educational officer
§ 105 ILCS 5/1E-40 Chief fiscal officer
§ 105 ILCS 5/1E-45 Collective bargaining agreements
§ 105 ILCS 5/1E-50 Deposits and investments
§ 105 ILCS 5/1E-55 Cash accounts and bank accounts
§ 105 ILCS 5/1E-60 Financial, management, and budgetary structure
§ 105 ILCS 5/1E-65 Power to issue bonds
§ 105 ILCS 5/1E-70 Terms of bonds
§ 105 ILCS 5/1E-75 Tax levy
§ 105 ILCS 5/1E-80 Debt service fund
§ 105 ILCS 5/1E-85 Debt service reserve fund
§ 105 ILCS 5/1E-90 Bond anticipation notes
§ 105 ILCS 5/1E-95 Vesting powers in trustee or other authorized agent
§ 105 ILCS 5/1E-100 Discharge of bonds
§ 105 ILCS 5/1E-105 Pledge of the State
§ 105 ILCS 5/1E-110 Statutory lien
§ 105 ILCS 5/1E-115 State or district not liable on obligations
§ 105 ILCS 5/1E-120 Obligations as legal investments
§ 105 ILCS 5/1E-125 Complete authority
§ 105 ILCS 5/1E-130 Reports
§ 105 ILCS 5/1E-135 Audit of Authority
§ 105 ILCS 5/1E-140 Assistance by State agencies, units of local government, and school …
§ 105 ILCS 5/1E-145 Property of Authority exempt from taxation
§ 105 ILCS 5/1E-150 Sanctions
§ 105 ILCS 5/1E-155 Abolition of Authority
§ 105 ILCS 5/1E-160 Limitations of actions after abolition; indemnification; legal representation
§ 105 ILCS 5/1E-165 Repeal
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Terms Used In Illinois Compiled Statutes > 105 ILCS 5 > Article 1E - Downstate School Finance Authority

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means a School Finance Authority created under this Article. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Bonds: means bonds authorized to be issued by the Authority under Section 1E-65 of this Code. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Budget: means the annual budget of the district required under Section 17-1 of this Code, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Chairperson: means the Chairperson of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • County board: means the board of county commissioners in counties not under township organization, and the board of supervisors in counties under township organization, and the board of commissioners of Cook County. See Illinois Compiled Statutes 5 ILCS 70/1.07
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • District: means any school district having a population of not more than 500,000 that prior to the effective date of this amendatory Act of the 92nd General Assembly has had a Financial Oversight Panel established for the district under Section 1B-4 of this Code following the district's petitioning of the State Board of Education for the creation of the Financial Oversight Panel and for which the Financial Oversight Panel has been in existence for at least one year. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Financial plan: means the financial plan of the district to be developed pursuant to this Article, as in effect from time to time. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Grantor: The person who establishes a trust and places property into it.
  • Heretofore: means any time previous to the day on which the statute takes effect; and the word "hereafter" at any time after such day. See Illinois Compiled Statutes 5 ILCS 70/1.17
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minority leader: See Floor Leaders
  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligations: means bonds and notes of the Authority. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Petty offense: A federal misdemeanor punishable by six months or less in prison. Source: U.S. Courts
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • State Board: means the State Board of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • State Superintendent: means the State Superintendent of Education. See Illinois Compiled Statutes 105 ILCS 5/1E-10
  • Statute: A law passed by a legislature.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Units of local government: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.28