Section 1100.240  Submission of Documents

In order for a bond financing to be considered for final resolution at the monthly meeting of the Authority, a bond purchase commitment and copies of all major financing documents, including any official statement or offering memorandum in substantially final form must be submitted to the Authority not less than 12 calendar days in advance of the applicable meeting date. Documents will be regarded as in substantially final form when submitted with a bond purchase commitment and a letter from bond counsel which states that fact. In addition, any public hearings required under the Tax Code must be held prior to the adoption of a final resolution.  Bond counsel should notify the Authority at least 7 calendar days prior to the date of the meeting if the amount of the bonds to be issued has changed from the amount set forth in the inducement resolution.  During December, and within the calendar month preceding the effective date of any tax legislation passed by either house of the United States Congress, the Authority may shorten the foregoing deadlines for projects pending at such time.

(Source:  Recodified from 14 Ill. Adm. Code 1220.250 at 31 Ill. Reg. 12104)