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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0978
Introduced 2/8/2007, by Sen. Antonio Munoz - Emil Jones, Jr. SYNOPSIS AS INTRODUCED:
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605 ILCS 10/7 |
from Ch. 121, par. 100-7 |
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Amends the Toll Highway Act. Makes a technical change in a Section regarding
the filing of bonds by the board of directors.
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A BILL FOR
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SB0978 |
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LRB095 05829 LCT 25919 b |
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| AN ACT concerning transportation.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Toll Highway Act is amended by changing |
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| Section 7 as follows:
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| (605 ILCS 10/7) (from Ch. 121, par. 100-7)
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| Sec. 7. The
The chairman of the Board of Directors shall |
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| execute and file as
hereinafter provided, a bond in the penal |
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| sum of $100,000. Each other
director, other than the ex officio |
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| directors shall qualify by executing
and filing, as hereinafter |
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| provided, a bond in the penal sum of $25,000,
and the |
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| secretary, if not a member of the Authority, shall execute and
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| file, as hereinafter provided, a bond in the penal sum of |
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| $15,000. All such
bonds shall be payable to the People of the |
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| State of Illinois, and be
conditioned upon the faithful |
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| performance of the duties imposed upon such
chairman, directors |
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| or secretary under this Act. Said bonds shall be
subject to the |
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| approval of the Governor and of the Attorney General of the
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| State of Illinois, and shall, when executed and so approved, be |
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| filed in
the office of the Secretary of State. The said bonds |
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| herein required to be
furnished shall be with a surety company, |
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| or companies, authorized to do
business in this State under the |
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| laws thereof, and the cost of any official
bonds required to be |