Sec. 6. The organization shall file an annual report in relation to the rehabilitation and use of the property.
107 words·~1 min read·
/il/chapter-310/act-50/6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 6. The organization shall file an annual report in relation to the rehabilitation and use of the property. The court shall require reports and status dates to be filed as it may deem appropriate under the circumstances but no less frequently than one a year. The report shall include statements of all expenditures made by the organization including but not limited to payments for the rehabilitation, operation and maintenance of and repairs to the property, and for real estate taxes, and payments to mortgagees and lienholders during the preceding year, and shall include statements of all income and receipts from the property for the preceding year.