Buy Here Pay Here Rockford
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For 3o-plus years, Kishwaukee Auto Corral, with two locations in Rockford, IL. to serve you, has been a premier family owned and operated automotive dealership, offering the best selection of used cars, trucks, and SUVs available. Our knowledgeable sales staff is here to assure you find the right vehicle for you and your family. We provide in house financing on many select make and model vehicles. Our mission is to provide the best customer service while facilitating a fun, hassle-free financing and car buying experience. Your car buying experience is made simple with us because you're dealing with hard working family people just like you, eliminating the frustration of 1-800 customer service lines and red tape when you have a question. With us you enjoy the benefit of person to person communications. Bad credit, no credit and credit scores mean very little because it's the customers individual circumstances we focus on when finding a vehicle that best meets the customer needs. We understand that cars and credit scores don't make car payments, people do. Our staff are honest folks dealing with real life circumstances just like our customer base. Customer relationships are just as important to us as the sale and car buying experience itself. Our promise to you is the standard of integrity and being told the truth. There is no hidden agenda. We're here to help when we can. Our staff members are the same folks that's been here for years. If you have a question, please ask. All purchases require customer test drive, inspection and satisfaction. If you need a car, truck or SUV there's a pretty good chance we can get it done even when others can't or won't. We look forward to the opportunity in assisting you with your automobile buying needs. Thanks, and God Bless!
When you're dealing with bad credit car loans, subprime lenders typically want a minimum of $1,000 down, or 10 percent of the car's selling price. This standard is only a general rule of thumb, and specific amounts vary by lender. Another benefit to having a down payment is that lenders see it as a sign you're invested in the success of your auto loan. So, what are you waiting for Let us help point you toward a dealer in or near Rockford where you can find the right lender for your credit and down payment situation.
You can use the automated phone system by calling 1-844-738-1055. Payments can be made using a checking account or any major credit card. Payments completed by 11:00 a.m. Central Time will be posted the same day. Payments completed after 11:00 a.m. will be posted the next business day. You will need your City of Rockford 9 digit account number and 8 digit bill number located in your printed bill. There is a $3.00 fee for using this service.
If there is a change of ownership, it is the responsibility of the purchaser of any premises in the city, or of any mortgagee, trustee or lien claimant to notify the customer service department in writing of the intention to purchase the property. In addition, any outstanding balance must be paid prior to the new owner being added to the account.
The Starlight Theatre Online Box Office is where you can purchase individual and season tickets for Starlight Theatre. As always, tickets are also available by phone or directly from the college box office at (815) 921-2160, 10 a.m.-4 p.m. on Tuesday-Friday.
The parking lots are located directly in front of the Main Terminal Building and the International Arrival Terminal. In the event the Main Parking lot is full, please proceed to the Exit Booth where the attendant will assist you in locating a parking space.
Rockford Life presents two arguments against the assessment made here. The company argues first that the securities in question were obligations of the Federal government and therefore, under Federal law, were immune from State and local taxation. Alternatively, the company contends that the Department is estopped from making the 1978 assessment because in preceding years these or similar obligations were not included in the calculation of its capital stock; the company says that in planning its investments it relied on the Department's earlier practice.
The assessment of Rockford Life's capital stock was to be used by the county clerks in determining the amount of personal property tax payable by the company. Ad valorem property taxes were to be abolished on or before January 1, 1979 (Ill. Const. 1970, art. IX, sec. 5(c)), and the assessment for 1978 was to be the last for that purpose. The three general categories of securities *177 in question here are mortgage-backed certificates guaranteed by the Government National Mortgage Association (see 12 U.S.C. sec. 1721(g) (1976)) (GNMA), obligations guaranteed under the New Communities Act of 1968 (see 42 U.S.C. sec. 3902 (1976)) or under the Urban Growth and New Community Development Act of 1970 (see 42 U.S.C. sec. 4514 (1976)), and ship financing bonds guaranteed under the Merchant Marine Act of 1936 (see 46 U.S.C. sec. 1273(a) (1976)).
The greatest part of Rockford Life's holdings in question here consisted of GNMA mortgage-backed securities. GNMA is a wholly owned government corporation, created in 1968 \"to attract private capital into housing.\" (New York Guardian Mortgagee Corp. v. Cleland (S.D.N.Y. 1979), 473 F. Supp. 409, 411.) Describing the operation of the mortgage-backed securities program, the court there explained, \"In connection with this program, GNMA was authorized to issue securities `based on and backed by' a pool of mortgages guaranteed by one of several government agencies, * * * and to authorize qualifying private parties to issue such securities. Id. GNMA was further authorized to guarantee with the full faith and credit of the United States the timely payment of principal and interest falling due on such securities. Id.\" (473 F. Supp. 409, 411.) The court noted, \"The general purpose of these provisions was to foster a secondary market for home mortgages by providing a safety and liquidity not available to those investing directly in mortgages and to insulate GNMA investors from problems inherent in the management of mortgage portfolios. [Citations.]\" 473 F. Supp. 409, 411.
As the appellate court described them, the other obligations in question here reflect a similar intent to attract private money into the credit markets by providing for government guarantees of the obligations. (128 Ill. App.3d 302, 308-09.) The appellate court found that these securities *178 \"all have certain characteristics in common: they are issued by private parties, guaranteed by the full faith and credit of the United States government, and the United States government receives the fee for the guarantees.\" (128 Ill. App.3d 302, 309.) The appellate court held that the securities involved here were not immune from State or local taxation. This same result was reached in an earlier case, Montgomery Ward Life Insurance Co. v. Department of Local Government Affairs (1980), 89 Ill. App.3d 292, which also involved the inclusion of mortgage-backed GNMA securities in the assessment of an insurance company's capital stock.
Although Smith considered the constitutional and statutory inquiries separately, the statute, as we have said, has been construed by the court as a restatement of the constitutional rule. Therefore, we believe that the separate standards described by the court are, for our purposes here, overlapping and equally valid. Under the four-part constitutional test set out in Smith, the appellate court here concluded that the securities in question were not exempt from State or local taxation. The appellate court believed that the securities did not satisfy the third criterion, a promise to pay specified sums at specified times. The Federal government's undertaking with respect to these various obligations is a guarantee of the payment of principal and interest. The obligation imposed by that is not certain; it may or may not arise, depending on whether a default occurs. Moreover, the securities in question here do not appear to be related to the government's credit needs. The government is not itself the borrower, and it has made the guarantees to induce others to invest in the securities. We do not believe that the securities represent \"other obligations of the United States\" within the meaning of section 3701.
In contending for immunity of the types of obligations at issue here, Rockford Life would find support in the decision of the Supreme Court in Memphis Bank & Trust Co. v. Garner (1983), 459 U.S. 392, 74 L. Ed. 2d 562, 103 S. Ct. 692. In that case the court held that a tax imposed by the State of Tennessee on banks was discriminatory within the meaning of section 3701; in the computation of the tax base the taxing statute included income earned from Federal obligations but excluded income earned from obligations of that State or its political subdivisions. (459 U.S. 392, 398-99, 74 L. Ed. 2d 562, 568, 103 S. Ct. 692, 696.) Reaching that conclusion, the court said that it did not need to consider whether the tax was in fact \"a `franchise or other nonproperty ta[x] in lieu thereof.'\" 459 U.S. 392, 396 n. 6, 74 L. Ed. 2d 562, 567 n. 6, 103 S. Ct. 692, 695 n. 6.
Rockford Life interprets the Supreme Court's decision in Memphis Bank as holding that the particular obligations involved in that case were in fact immune from State and local taxation. The company believes that the obligations at issue here are sufficiently similar to those in Memphis Bank that they too must be deemed exempt.
In Memphis Bank \"[t]he parties stipulated that the