Ill. Admin. Code tit. 74, pt. 1100

Illinois Finance Authority

AUTHORITY: Implementing and authorized by the Illinois Finance Authority Act [20 ILCS 3501]. SOURCE: Recodified from the Illinois Farm Development Authority (8 Ill. Adm. Code 1400), the Illinois Development Finance Authority (14 Ill. Adm. Code 1200, 1210, 1220), the Illinois Educational Facilities Authority (23 Ill. Adm. Code 2310, 2320), and the Illinois Rural Bond Bank (47 Ill. Adm. 400, 410, 420) to the Illinois Finance Authority at 31 Ill. Reg. 12104; amended at 34 Ill. Reg. 497, effective December 23, 2009; amended at 34 Ill. Reg. 3272, effective February 23, 2010; amended at 39 Ill. Reg. 4924, effective March 19, 2015; recodified at 44 Ill. Reg. 14378; amended at 49 Ill. Reg. 5271, effective April 3, 2025.ILLINOIS FINANCE AUTHORITY

1100.50Definitions 1100.100Composition, Appointment and Terms of Office 1100.105Board Chairman 1100.110Executive Director 1100.115Meetings 1100.120Records and Reports 1100.125Public Participation 1100.130Rulemaking Procedures 1100.135Purchasing Rules and Regulations 1100.140Seal 1100.145Principal Office 1100.150Revision 1100.155Construction; Waiver; Severability 1100.200Summary and Purpose 1100.202Definitions 1100.204Application Forms 1100.206Notice to Municipalities 1100.208Changes in Information and Additional Information 1100.210Meetings of the Authority 1100.212Eligible Projects 1100.215Scheduling of Project Consideration 1100.220Staff Review 1100.225Authority Action 1100.230General Criteria for Approval 1100.235Additional Criteria for Commercial Projects 1100.240Submission of Documents 1100.245Public Hearing Procedures and Responsibilities 1100.250Final Public Approval 1100.255Requests for Allocation 1100.260Amendatory Resolutions 1100.265Bond Counsel on Pooled Bond Issues 1100.270Program Requirements; Standardized Documents 1100.275Transcripts 1100.280Authority Fees 1100.285Noncompliance and Waiver 1100.300Purposes and Objectives; Compliance with Federal Law; Forms for Program 1100.305Applicant Eligibility 1100.310Pre-Filing Stage 1100.315Filing of Application 1100.320Approval of Application 1100.325Denial of Application 1100.330Priority of Application 1100.335Source of Payment and Nature of Obligation 1100.340Fees 1100.345Purchase of Governmental Unit Bonds 1100.400Purpose; Definitions; Incorporation by Reference 1100.405Eligible Applicants; Eligible Projects 1100.410Municipal Approval 1100.415Application Requirements 1100.420Technical Assistance 1100.425On-Site Inspection 1100.430Selection Criteria 1100.435Deadlines 1100.440Funding Restrictions and Eligible Costs 1100.445Grant Agreement 1100.450Disbursement of Grants 1100.455Recordkeeping and Access to Information 1100.460Progress Reports 1100.465Audit Requirements 1100.470Grant Monitoring and Recovery 1100.475Project Completion Notice 1100.500Purpose; Definitions; Incorporation by Reference 1100.505Eligible Applicants; Eligible Projects 1100.510Municipal Approval 1100.515Application Requirements 1100.520On-Site Inspection 1100.525Selection Criteria 1100.530Deadlines 1100.535Funding Restrictions and Eligible Costs 1100.540Loan Agreement 1100.545Disbursement and Repayment of Loans 1100.550Loan Terms 1100.555Recordkeeping and Access to Information 1100.560Progress Reports 1100.565Audit Requirements 1100.570Loan Monitoring and Recovery 1100.575Project Completion Notice 1100.600Introduction 1100.610Who May Apply for Financing 1100.620Types of Educational and Cultural Facilities that Can Be Financed 1100.630Types of Costs that Can Be Financed: Outstanding Debt 1100.640Application Guidelines 1100.650Interest Rate on the Authority's Bonds 1100.660Method of Financing 1100.670Length of Bond Issue 1100.680Type of Bond Issue 1100.690Fees 1100.700Definitions 1100.705Rules and Guidelines Applicable to Bond Programs under this Subpart 1100.710Bond Programs and Rules Applicable to Each 1100.715Rules and Guidelines Applicable to the Interest Buy Down Program 1100.720Rules and Guidelines Applicable to the Young Farmer Guarantee Program 1100.725Rules and Guidelines Applicable to the State Guarantee Program for Restructuring Agricultural Debt 1100.730Rules and Guidelines Applicable to the Specialized Livestock Guarantee Program 1100.735Rules and Guidelines Applicable to the State Guarantee Program for Agri-Industries 1100.800Definitions 1100.803Severability 1100.805Purpose 1100.810Eligible Expenditures 1100.815Loan Application Review 1100.817Funding Criteria and Credit Review Process 1100.820Loan Documents and Servicing 1100.825Repayment Procedures 1100.830Terms and Conditions of Loan Agreement 1100.900Definitions 1100.903Severability 1100.905Purpose 1100.910Eligible Expenditures 1100.915Loan Application Review 1100.917Funding Criteria and Credit Review Process 1100.920Loan Documents and Servicing 1100.925Repayment Procedures 1100.930Terms and Conditions of Loan Agreement 1100.1000Definitions 1100.1005Purpose 1100.1010Eligible Expenditures 1100.1015Loan Application Review 1100.1017Funding Criteria and Credit Review Process 1100.1020Loan Documents and Servicing 1100.1025Repayment Procedures 1100.1030Terms and Conditions of Loan Agreement 1100.1100Definitions 1100.1103Severability 1100.1105Purpose 1100.1110Eligible Expenditures 1100.1115Loan Application Review 1100.1117Funding Criteria and Credit Review Process 1100.1120Loan Documents and Servicing 1100.1125Repayment Procedures 1100.1130Terms and Conditions of Loan Agreement 1100.TABLE AIncome Limits