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| [ Engrossed ] | [ Enrolled ] | [ House Amendment 001 ] |
92_SB0099
LRB9203802TAtm
1 AN ACT concerning special districts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Kaskaskia Regional Port District Act is
5 amended by adding Section 20.2 as follows:
6 (70 ILCS 1830/20.2 new)
7 Sec. 20.2. Authorization to borrow moneys.
8 The District's Board may borrow money from any bank or
9 other financial institution if the money is repaid within one
10 year after the money is borrowed. "Financial institution"
11 means any bank subject to the Illinois Banking Act, any
12 savings and loan association subject to the Illinois Savings
13 and Loan Act of 1985, any savings bank subject to the Savings
14 Bank Act, and any federally chartered commercial bank or
15 savings and loan association organized and operated in this
16 State pursuant to the laws of the United States.