"Director"the Director of the Department of Revenue.
"Entitlement"the amount of the Replacement Tax paid or to be paid in any given full year to a Unit of Government.
"Governing Body"the council, board, commission, trustees, or body, by whatever name it is known, charged with the responsibility of governing the financial affairs of a Unit of Government.
"Note(s)"one or more of the notes issued under this Section in anticipation of the receipt of Replacement Taxes.
"Replacement Taxes"the tax or taxes, as by law now or hereafter enacted or amended, imposed by the General Assembly to replace revenue lost by Units of Government as a result of the abolition of ad valorem personal property taxes pursuant to Article IX, Section 5(c) of the Constitution of the State of Illinois.
The Treasurer of a Unit of Government shall be required to keep a record in accordance with good accounting practice of advances made under paragraphs (3) and (4) hereof, and of the repayment of such advances.
50 ILCS 420/4.1