95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2239

 

Introduced 2/14/2008, by Sen. Terry Link

 

SYNOPSIS AS INTRODUCED:
 
70 ILCS 2605/5.9   from Ch. 42, par. 324s

    Amends the Metropolitan Water Reclamation District Act. Allows the board to transfer interest earned on any moneys to the MWRD Retirement Fund, as well as to the funds that are most in need of the money. Effective immediately.


LRB095 18106 HLH 44189 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2239 LRB095 18106 HLH 44189 b

1     AN ACT concerning special districts.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Metropolitan Water Reclamation District Act
5 is amended by changing Section 5.9 as follows:
 
6     (70 ILCS 2605/5.9)  (from Ch. 42, par. 324s)
7     Sec. 5.9. The board of trustees shall, at any time after
8 March 1 of each fiscal year, have power, by a two-thirds vote
9 of all the members of such body, to authorize the making of
10 transfers within a department or between departments of sums of
11 money appropriated for one corporate object or function to
12 another corporate object or function. Any such action by the
13 board of trustees shall be entered in the proceedings of the
14 board. No appropriation for any object or function shall be
15 reduced below an amount sufficient to cover all unliquidated
16 and outstanding contracts or obligations certified from or
17 against the appropriation for such purpose.
18     The board of trustees, by a two-thirds vote of all its
19 members, may transfer the interest earned on any moneys of the
20 district into the district's fund or funds that are most in
21 need of the interest income, or the Metropolitan Water
22 Reclamation District Retirement Fund. This authority does not
23 apply to any interest that has been earmarked or restricted by

 

 

SB2239 - 2 - LRB095 18106 HLH 44189 b

1 the board for a designated purpose. This authority does not
2 apply to any interest earned on any funds for purposes of the
3 Metropolitan Water Reclamation District Retirement Fund or
4 Reserve Claim Fund.
5     The board of trustees, by a two-thirds vote of all its
6 members, may transfer fund balances between its Working Cash
7 Funds.
8 (Source: P.A. 93-252, eff. 7-22-03.)
 
9     Section 99. Effective date. This Act takes effect upon
10 becoming law.