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90_HB2321ham001
LRB9007347NTsbam01
1 AMENDMENT TO HOUSE BILL 2321
2 AMENDMENT NO. . Amend House Bill 2321 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Toll Highway Act is amended by changing
5 Section 24 as follows:
6 (605 ILCS 10/24) (from Ch. 121, par. 100-24)
7 Sec. 24. Except as otherwise provided in any bond
8 resolution, the proceeds derived from the sale of bonds, and
9 all receipts and income derived from tolls, licenses, gifts,
10 donations, concessions, fees, rentals, and all other revenues
11 from whatever source derived, shall, within 3 three days
12 after receipt thereof, be paid to the Treasurer of the State
13 of Illinois, and held by him as a special fund known as the
14 Illinois State Toll Highway Authority Fund, except that the
15 Authority may retain portions of the Illinois State Toll
16 Highway Authority Fund as a locally maintained construction
17 fund revolving account and as a revenue fund revolving
18 account, where authorized by a bond resolution, and as
19 locally maintained change funds, where necessary for the
20 operations of the Authority. The State Treasurer shall be ex
21 officio custodian of such special fund, which fund shall be
22 held, invested and disbursed for the purposes provided herein
-2- LRB9007347NTsbam01
1 upon the order of the Authority and in accordance with
2 provisions and covenants of any bond resolution authorizing
3 the issuance of bonds which have not been paid or deemed
4 paid. The interest accruing on said special fund shall be
5 computed and added to the principal thereof every six months.
6 In addition to the special audits prescribed by this Act, the
7 said fund shall also be subject to audit in the same manner
8 as is now, or may hereinafter be, provided for the audit of
9 State funds and accounts. The said special fund shall be
10 protected by a corporate surety bond, executed by the
11 Treasurer, with a surety authorized to do business under the
12 laws of the State of Illinois. The amount of said bond shall
13 be fixed by resolution of the Authority, approved by the
14 Governor, and may be increased or diminished at any time. The
15 premiums on said bond shall be payable from the funds of the
16 Authority. The bond shall be subject to the approval of the
17 Governor and Attorney General of the State of Illinois, and,
18 when so approved, shall be filed in the office of the
19 Secretary of State. Said special fund shall be considered
20 always appropriated for the purposes of disbursements, as
21 provided in this Act, and shall be paid out and disbursed
22 only as provided herein, and shall not, at any time be
23 appropriated or diverted to any other use or purpose.
24 (Source: P.A. 83-1258.)".