Illinois General Assembly - Illinois Compiled Statutes

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70 ILCS 3615/3B.12

(70 ILCS 3615/3B.12) (from Ch. 111 2/3, par. 703B.12)

Sec. 3B.12. Working Cash Borrowing.

The Commuter Rail Board with the
affirmative vote of 7
 of its Directors may demand and direct the Board
of the Authority to issue Working Cash Notes at such time and in such amounts
and having such maturities as the Commuter Rail Board deems proper, provided
however any such borrowing shall have been specifically identified in the
budget of the Commuter Rail Board as approved by the Board of the Authority.
Provided further, that the Commuter Rail Board may not demand and direct the Board
of the Authority to have issued and have outstanding at any time in excess of
$20,000,000 in Working Cash Notes.

(Source: P.A. 95-708, eff. 1-18-08.)