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90_HB2751
70 ILCS 2605/5.9 from Ch. 42, par. 324s
Amends the Metropolitan Water Reclamation District Act.
Permits the transfer of the district's interest income among
its most needy funds upon a two-thirds vote of the board of
trustees. Excludes certain types of interest.
LRB9009560JMmb
LRB9009560JMmb
1 AN ACT to amend the Metropolitan Water Reclamation
2 District Act by changing Section 5.9.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Metropolitan Water Reclamation District
6 Act is amended by changing Section 5.9 as follows:
7 (70 ILCS 2605/5.9) (from Ch. 42, par. 324s)
8 Sec. 5.9. The board of trustees shall, at any time after
9 March 1 of each fiscal year, have power, by a two-thirds vote
10 of all the members of such body, to authorize the making of
11 transfers within a department or between departments of sums
12 of money appropriated for one corporate object or function to
13 another corporate object or function. Any such action by the
14 board of trustees shall be entered in the proceedings of the
15 board. No appropriation for any object or function shall be
16 reduced below an amount sufficient to cover all unliquidated
17 and outstanding contracts or obligations certified from or
18 against the appropriation for such purpose.
19 The board of trustees, by a two-thirds vote of all its
20 members, may transfer the interest earned on any moneys of
21 the district into the district's fund or funds that are most
22 in need of the interest income. This authority does not
23 apply to any interest that has been earmarked or restricted
24 by the board for a designated purpose. This authority does
25 not apply to any interest earned on any funds for purposes of
26 the Metropolitan Water Reclamation District Retirement Fund
27 or Reserve Claim Fund.
28 (Source: P.A. 90-221, eff. 1-1-98; 90-511, eff. 8-22-97.)