Illinois Administrative Code
Title 41 - FIRE PROTECTION
Part 294 - FIRE STATION REVOLVING LOAN PROGRAM
Section 294.190 - Recordkeeping and Recovery of Funds

Universal Citation: 41 IL Admin Code ยง 294.190

Current through Register Vol. 48, No. 38, September 20, 2024

A loan approved by the Office and the Authority is subject to the following terms:

a) The loan recipient shall provide to the Authority and the Office proof of use of loan proceeds.

b) In the event of default that is not cured within 90 calendar days, the Office will notify the Office of the Comptroller to deduct the amount owed from any payments from other State agencies in accordance with the State Comptroller Act [15 ILCS 405/10.05] . In addition, the Office and/or the Authority may avail itself of all remedies, rights and provisions of law applicable in the circumstances, and the failure to exercise or exert any rights or remedies provided by law may not be raised as a defense by the recipient in default.

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