Section 1100.275  Transcripts

a)         The Authority must receive after the bond closing one unbound set or originally executed counterparts of all closing documents and one bound volume containing copies of all closing documents, the cost of which shall be borne by the borrower.  Both the unbound transcript and the bound volume should include an index of closing documents or closing memorandum incorporating such index. The Authority should receive the unbound transcript within one month of the closing and the bound volume within three months after the closing.

b)         Each document in the unbound transcript should be filed in a separate pocket, envelope or folder.

c)         The bound volume must be permanently bound with library binding, with a dark blue or black cover in buckram (or its equivalent) and gold lettering.

d)         The spine of the bound volume should contain the following information:

1)         The name of the project;

2)         The amount of the bond issue;

3)         The type of bond issue (i.e., IRB or Pollution Control);

4)         The name "Illinois Finance Authority";

5)         The final maturity date of the bonds; and

6)         The series designation, if any (i.e., Series 198X).

e)         The cover of the bound volume should contain the following information:

1)         The name of the project;

2)         The amount of the bond issue;

3)         The type of bond issue; and

4)         The name "Illinois Finance Authority."

f)         If the documents are bound in more than one volume, each volume should specify which documents are contained in that volume (i.e., Vol. I − closing documents 1-7; Vol. II − closing documents 8-45).

g)         If the unbound transcript or bound volume does not meet these specifications, it will be returned and another bound volume or unbound transcript meeting these specifications will be required.

(Source:  Recodified from 14 Ill. Adm. Code 1220.500 at 31 Ill. Reg. 12104)