30 ILCS 430/4

(30 ILCS 430/4) (from Ch. 127, par. 3754)
Sec. 4.
In order to provide investors with investment alternatives
suitable for retirement purposes, and in furtherance of the public policy
of this Act, bonds authorized by the provisions of the General Obligation
Bond Act, as now or hereafter amended, in a total aggregate principal
amount not to exceed $300,000,000, may be issued and sold from time to
time, and as often as practicable, as Retirement Savings Bonds in such
amounts as directed by the Governor, upon recommendation by the Director of
the
Governor's Office of Management and Budget.  Bonds to be issued and sold as Retirement
Savings Bonds shall be designated by the Governor and the Director of the
Governor's Office of Management and Budget as "General Obligation Retirement Savings Bonds" in
the proceedings authorizing the issuance of such Bonds, and shall be
subject to all of the terms and provisions of the General Obligation Bond
Act, as now or hereafter amended, except that Retirement Savings Bonds may
bear interest payable at such time or times and may be sold at such prices
and in such manner as
may be determined by the Governor and the Director of the
Governor's Office of Management and Budget.  If Retirement Savings Bonds are sold at public sale, the public
sale procedures shall be as set forth in Section 11 of the General
Obligation Bond Act, as now or hereafter amended.  Retirement Savings Bonds
may be sold at negotiated sale if the Director of the
Governor's Office of Management and Budget
						
determines that a negotiated sale will result in either a more efficient
and economic sale of such Bonds or greater access to such Bonds by
investors who are residents of the State of Illinois.  If any Retirement
Savings Bonds are sold at a negotiated sale, the underwriter or
underwriters to which such Bonds are sold shall (a) have an established
retail presence in the State of Illinois or (b) in the judgment of the
Director of the
Governor's Office of Management and Budget, have sufficient capability to make a
broad distribution of such Bonds to investors resident in the State of
Illinois.  In determining the aggregate original principal amount of
Retirement Savings Bonds that has been issued pursuant to this Act, the
aggregate original principal amount of such Bonds issued and sold shall be
taken into account.  Any bond issued under this Act may be payable in one
payment on a fixed date, or as determined appropriate by the Governor and
Director of the
Governor's Office of Management and Budget.
(Source: P.A. 94-793, eff. 5-19-06.)