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SPRINGFIELD METRO. EXPOSITION AUTH. v. CASTLE

No. 16205.

90 Ill. App.3d 710 (1980)

413 N.E.2d 443

SPRINGFIELD METROPOLITAN EXPOSITION AND AUDITORIUM AUTHORITY, Plaintiff-Appellant, v. JOHN W. CASTLE, Director, Department of Business and Economic Development, Defendant-Appellee.

Appellate Court of Illinois — Fourth District.

Opinion filed November 20, 1980.

Attorney(s) appearing for the Case

Pfeifer & Kelty, P.C., of Springfield (Thomas W. Kelty and Charles R. Hug, of counsel), for appellant.

William J. Scott, Attorney General, of Chicago (Karen Konieczny, Assistant Attorney General, of counsel), for appellee.

Reversed and remanded.

Mr. PRESIDING JUSTICE MILLS delivered the opinion of the court:

Who is entitled to the accrued interest on an authority's bond proceeds?

Not the State.

We reverse.

The Springfield Metropolitan Exposition and Auditorium Authority (SMEAA) is a municipal corporation created by the Springfield Metropolitan Exposition and Auditorium Authority Act (Authority Act) (Ill. Rev. Stat. 1979, ch. 85, par. 1251 et seq.<...

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