Sec. 7. Information reporting of private activity bond issuance.
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/il/chapter-30/act-345/7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 7. Information reporting of private activity bond issuance.
(a)Each State agency, unit of local government, and home rule unit or person authorized to act on its behalf shall, within 10 days after the issuance of any private activity bond, submit in written form the following information with the Governor's office:
(a)the name of the issuer,
(b)the principal amount of the issue,
(c)the purpose for which such private activity bond is issued,
(d)the amount, if any, used to refund any prior issue of private activity bond, and
(e)such other information as shall be required in order to demonstrate conformity with this Act.
(b)The Governor's office shall maintain a central file of all private activity bonds issued in accordance with this Act. The file shall include all notices received by the Governor's office and all approvals and denials issued by the Governor's office. A cumulative total of the principal amount of private activity bonds issued shall be maintained on a calendar year basis.