093_HB2181

                                     LRB093 06966 MKM 11117 b

 1        AN ACT concerning libraries.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  Public  Library District Act of 1991 is
 5    amended by adding Section 40-55 as follows:

 6        (75 ILCS 16/40-55 new)
 7        Sec. 40-55.  Insurance Reserve Fund; transfers. The board
 8    of any district may, by proper resolution following a  public
 9    hearing  (that  is  preceded by at least one published notice
10    occurring at least 7 days prior to the hearing in a newspaper
11    of general circulation within the district and setting  forth
12    the  time,  date,  place, and subject matter of the hearing),
13    transfer  money  from  the  Insurance  Reserve  Fund  to  the
14    district's Expansion Special Reserve Fund, provided that  the
15    amount  transferred  is  not then required for the payment of
16    any liabilities due to be paid  from  the  Insurance  Reserve
17    Fund.
18        This  Section does not apply in any municipality having a
19    population greater than 500,000.