Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 1100 - ILLINOIS FINANCE AUTHORITY
Subpart B - FINANCING PROGRAMS
Section 1100.225 - Authority Action
Universal Citation: 74 IL Admin Code ยง 1100.225
Current through Register Vol. 48, No. 12, March 22, 2024
a) The Board, using the criteria set forth in Sections 1100.230 and 1100.235 will review each application for issuance of its revenue bonds to finance a project and take any one of the following actions:
1) Adopt an inducement or loan commitment
resolution.
2) Decline to adopt an
inducement or loan commitment resolution with respect to the project.
3) Table consideration of the project to
allow further time for consideration by the Board or for submission of
additional information by the borrower.
b) The Authority may reconsider applications which have not received inducement resolutions if requested by the borrower and if a motion to so reconsider is made by a member of the Authority who was either absent or voted "no" at the time the application was originally considered.
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