Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau 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.
FINANCE
(30 ILCS 335/) General Obligation Bond Investment Act. 30 ILCS 335/0.01
(30 ILCS 335/0.01) (from Ch. 127, par. 330)
Sec. 0.01.
Short title.
This Act may be cited as the
General Obligation Bond Investment Act.
(Source: P.A. 86-1324.)
|
30 ILCS 335/1
(30 ILCS 335/1) (from Ch. 127, par. 331)
Sec. 1.
Counties, cities, villages, incorporate towns, and other municipal
corporations, political subdivisions and public bodies, and public officers
of any thereof, all banks, bankers, trust companies, savings banks and
institutions, building and loan associations, savings and loan
associations, investment companies, insurance companies and associations,
and all executors, administrators, guardians, trustees and other
fiduciaries may legally invest any sinking funds, moneys or other funds
belonging to them or within their control in any bonds issued pursuant to
"An Act to authorize the issuance and sale of bonds of the State of
Illinois for the purpose of obtaining funds to be used for making permanent
improvements at educational institutions owned by this State and to provide
for the payment of the principal of and interest upon said bonds", approved
July 23, 1959, or "An Act to authorize the issuance and sale of bonds of
the State of Illinois for the purpose of obtaining funds to be used for
making permanent improvements at mental health and other public welfare
institutions owned by the State and to provide for the payment of the
principal of and interest upon such bonds", approved July 22, 1959, or
any other general obligation bonds issued by the State of Illinois.
(Source: Laws 1963, p. 761.)
|
30 ILCS 335/2
(30 ILCS 335/2) (from Ch. 127, par. 332)
Sec. 2.
Nothing in this Act shall be construed as relieving any
officer, person, firm or corporation from any duty of using reasonable
care in selecting investments.
(Source: Laws 1963, p. 761.)
|
|
