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SB2871 Engrossed |
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LRB094 14947 AJO 50035 b |
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Chicago Park District Working Cash Fund Act |
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| is amended by adding Section 4.1 as follows:
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| (70 ILCS 1510/4.1 new) |
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| Sec. 4.1. Abolishment of working cash fund. |
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| (a) The commissioners of the Chicago Park District may |
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| abolish its working cash fund by resolution and may transfer |
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| any balance remaining in the fund, including any interest that |
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| may have accrued, to the general corporate fund of the Chicago |
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| Park District at the end of the then current fiscal year. Any |
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| outstanding loans to other District funds shall be paid or |
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| become payable to the general corporate fund of the Chicago |
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| Park District at the close of the then current fiscal year. |
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| (b) Any obligation incurred by the Chicago Park District |
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| pursuant to Section 2 shall be discharged as therein provided.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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