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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1631 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
| | 605 ILCS 10/7 | from Ch. 121, par. 100-7 |
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Amends the Toll Highway Act. Makes a technical change in a Section regarding
the filing of bonds by the board of directors.
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| | A BILL FOR |
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| | HB1631 | | LRB100 03227 AXK 13232 b |
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| 1 | | AN ACT concerning transportation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Toll Highway Act is amended by changing |
| 5 | | Section 7 as follows:
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| 6 | | (605 ILCS 10/7) (from Ch. 121, par. 100-7)
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| 7 | | Sec. 7.
The
The chairman of the Board of Directors shall |
| 8 | | execute and file as
hereinafter provided, a bond in the penal |
| 9 | | sum of $100,000. Each other
director, other than the ex officio |
| 10 | | directors shall qualify by executing
and filing, as hereinafter |
| 11 | | provided, a bond in the penal sum of $25,000,
and the |
| 12 | | secretary, if not a member of the Authority, shall execute and
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| 13 | | file, as hereinafter provided, a bond in the penal sum of |
| 14 | | $15,000. All such
bonds shall be payable to the People of the |
| 15 | | State of Illinois, and be
conditioned upon the faithful |
| 16 | | performance of the duties imposed upon such
chairman, directors |
| 17 | | or secretary under this Act. Said bonds shall be
subject to the |
| 18 | | approval of the Governor and of the Attorney General of the
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| 19 | | State of Illinois, and shall, when executed and so approved, be |
| 20 | | filed in
the office of the Secretary of State. The said bonds |
| 21 | | herein required to be
furnished shall be with a surety company, |
| 22 | | or companies, authorized to do
business in this State under the |
| 23 | | laws thereof, and the cost of any official
bonds required to be |