Illinois General Assembly - Illinois Compiled Statutes

Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

70 ILCS 3605/12b

(70 ILCS 3605/12b) (from Ch. 111 2/3, par. 312b)

Sec. 12b.

Working Cash Borrowing.

In addition to the powers provided
in Section 12a, the Board with the affirmative vote of 5 of its
Directors may demand and direct the Board of the Regional Transportation
Authority to issue Working Cash Notes at such time and in such amounts and
having such maturities as the Authority deems proper, provided however any
such borrowing shall have been specifically identified in the budget of
the Authority as approved by the Board of the Regional Transportation Authority.
Provided further, that the Board may not issue and have outstanding or
demand and direct the Board of
the Regional Transportation Authority to issue and have outstanding more
than an aggregate of $40,000,000 in Working Cash Notes.

(Source: P.A. 83-885; 83-886.)