Upper Illinois River Valley Development Authority

Powers of Authority

The Upper Illinois River Valley Development Authority (UIRVDA) was created by action of the Illinois General Assembly and the Governor. UIRVDA is a general development agency for the counties of Bureau, Grundy, Kane, Kendall, LaSalle, Marshall, McHenry and Putnam and is one of only four active regional development authorities within the State of Illinois. The others are located within the Quad Cities, Southwestern Illinois and the Will Kankakee area.

The Authority's financial and supportive powers enable it, with the written approval of the Governor of the State of Illinois, to:

Issue Taxable Bonds
Issue Tax-exempt Bonds
Issue Moral Obligation Bonds
Issue Notes or other evidences of indebtedness

for the purpose of developing, constructing, acquiring or improving properties or facilities for business entities locating in or expanding within the territorial jurisdiction of the Authority.

The Authority may also:

Acquire
Own
Lease or
Sell real property and improvements.

The Authority has certain powers granted to it as a municipality as authorized by selected sections of the Illinois Municipal Code including the power to enter into contracts and intergovernmental agreements with private bodies or units of government.