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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2239
Introduced 2/14/2008, by Sen. Terry Link SYNOPSIS AS INTRODUCED:
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70 ILCS 2605/5.9 |
from Ch. 42, par. 324s |
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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.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB2239 |
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LRB095 18106 HLH 44189 b |
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| AN ACT concerning special districts.
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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 Metropolitan Water Reclamation District Act |
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| is amended by changing Section 5.9 as follows:
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| (70 ILCS 2605/5.9) (from Ch. 42, par. 324s)
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| Sec. 5.9. The board of trustees shall, at any time after |
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| March 1 of each
fiscal year, have power, by a two-thirds vote |
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| of all the
members of such body, to authorize the making of |
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| transfers within a department
or between departments of sums of |
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| money appropriated for one corporate object
or function to |
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| another corporate object or function. Any such action by the
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| board of trustees shall be entered in the proceedings of the |
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| board. No
appropriation for any object or function shall be |
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| reduced below an amount
sufficient to cover all unliquidated |
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| and outstanding contracts or
obligations certified from or |
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| against the appropriation for such purpose.
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| The board of trustees, by a two-thirds vote of all its |
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| members, may transfer
the interest earned on any moneys of the |
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| district into the district's fund or
funds that are most in |
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| need of the interest income, or the Metropolitan Water |
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| Reclamation District Retirement Fund. This authority does not
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| apply to any interest that has been earmarked or restricted by |