093_SB0037

 
                                     LRB093 02806 SJM 02822 b

 1        AN ACT concerning finance.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Build Illinois Bond  Act  is  amended  by
 5    changing Section 8 as follows:

 6        (30 ILCS 425/8) (from Ch. 127, par. 2808)
 7        Sec. 8.  Sale of Bonds.  Bonds shall be sold from time to
 8    time  pursuant to advertised notice of sale and public bid or
 9    by negotiated sale as the  Director  of  the  Bureau  of  the
10    Budget  shall,  in  his  or her sole discretion, determine in
11    order to market the Bonds in an economic,  effective  manner.
12    Executed  Bonds shall, upon payment therefor, be delivered to
13    the purchaser, and the proceeds of Bonds shall be  paid  into
14    the  State Treasury as directed by Section 9 of this Act. The
15    Governor or the Director of  the  Bureau  of  the  Budget  is
16    hereby   authorized  and  directed  to  execute  and  deliver
17    contracts of  sale  with  underwriters  and  to  execute  and
18    deliver   such   certificates,   indentures,  agreements  and
19    documents, including any supplements or  amendments  thereto,
20    and  to  take  such  actions  and  do such things as shall be
21    necessary or desirable to carry out the purposes of this Act.
22    Any action  authorized  or  permitted  to  be  taken  by  the
23    Director  of the Bureau of the Budget pursuant to this Act is
24    hereby authorized to be  taken  by  any  person  specifically
25    designated   by  the  Governor  to  take  such  action  in  a
26    certificate  signed  by  the  Governor  and  filed  with  the
27    Secretary of State.
28    (Source: P.A. 84-111.)