Sen. William R. Haine

Filed: 4/11/2005

 

 


 

 


 
09400SB0840sam001 LRB094 04468 AJO 44306 a

1
AMENDMENT TO SENATE BILL 840

2     AMENDMENT NO. ______. Amend Senate Bill 840 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Kaskaskia Regional Port District Act is
5 amended by changing Section 20.2 as follows:
 
6     (70 ILCS 1830/20.2)
7     Sec. 20.2. Authorization to borrow moneys. The District's
8 Board may borrow money from any bank or other financial
9 institution, and may provide appropriate security for that
10 borrowing, if the money is repaid within one year after the
11 money is borrowed. "Financial institution" means any bank
12 subject to the Illinois Banking Act, any savings and loan
13 association subject to the Illinois Savings and Loan Act of
14 1985, any savings bank subject to the Savings Bank Act, and any
15 federally chartered commercial bank or savings and loan
16 association organized and operated in this State pursuant to
17 the laws of the United States.
18 (Source: P.A. 92-389, eff. 1-1-02.)
 
19     Section 10. The Tri-City Regional Port District Act is
20 amended by adding Section 7.5 as follows:
 
21     (70 ILCS 1860/7.5 new)
22     Sec. 7.5. Authorization to borrow moneys. The District's

 

 

09400SB0840sam001 - 2 - LRB094 04468 AJO 44306 a

1 Board may borrow money from any bank or other financial
2 institution and may provide appropriate security for that
3 borrowing. "Financial institution" means any bank subject to
4 the Illinois Banking Act, any savings and loan association
5 subject to the Illinois Savings and Loan Act of 1985, any
6 savings bank subject to the Savings Bank Act, and any federally
7 chartered commercial bank or savings and loan association
8 organized and operated in this State pursuant to the laws of
9 the United States.".