Illinois HB 2139: STATE GOVERNMENT-TECH

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 Full Text of HB2139

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HB2139 EnrolledLRB104 11607 RTM 21696 b

1 AN ACT concerning local government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly: 

4 Section 5. The America's Central Port District Act is 

5amended by changing Sections 7.5, 21, and 25 as follows:

6 (70 ILCS 1860/7.5)

7 Sec. 7.5. Authorization to borrow moneys. The District's 

8Board may borrow money from any governmental agency, bank, or 

9other financial institution and may provide appropriate 

10security for that borrowing, if the money is repaid within 20 

11years after the money is borrowed. "Financial institution" has 

12the meaning given in Section 8-1-3.1 of the Illinois Municipal 

13Code means any bank subject to the Illinois Banking Act, any 

14savings and loan association subject to the Illinois Savings 

15and Loan Act of 1985, any savings bank subject to the Savings 

16Bank Act, and any federally chartered commercial bank or 

17savings and loan association organized and operated in this 

18State pursuant to the laws of the United States.

19(Source: P.A. 98-854, eff. 1-1-15.)

20 (70 ILCS 1860/21) (from Ch. 19, par. 304)

21 Sec. 21. All funds deposited by the treasurer in any bank 

22or savings and loan association shall be placed in the name of 

HB2139 Enrolled- 2 -LRB104 11607 RTM 21696 b

1the District and shall be withdrawn or paid out only by check 

2or draft upon the bank or savings and loan association, signed 

3by the treasurer and countersigned by the chairman of the 

4Board, or by Automated Clearing House transaction or other 

5el