Illinois General Assembly - Full Text of SB0840
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Full Text of SB0840  94th General Assembly

SB0840eng 94TH GENERAL ASSEMBLY



 


 
SB0840 Engrossed LRB094 04468 MKM 34497 b

1     AN ACT concerning local government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
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
23 Board may borrow money from any bank or other financial
24 institution and may provide appropriate security for that
25 borrowing. "Financial institution" means any bank subject to
26 the Illinois Banking Act, any savings and loan association
27 subject to the Illinois Savings and Loan Act of 1985, any
28 savings bank subject to the Savings Bank Act, and any federally
29 chartered commercial bank or savings and loan association
30 organized and operated in this State pursuant to the laws of

 

 

SB0840 Engrossed - 2 - LRB094 04468 MKM 34497 b

1 the United States.