HB1679 Enrolled LRB094 03138 MKM 33139 b

1     AN ACT concerning local government.
 
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 changing Section 20.2 as follows:
 
6     (70 ILCS 1830/20.2)
7     Sec. 20.2. Authorization to borrow moneys. The District's
8 Board may borrow money from any bank or other financial
9 institution, and may provide appropriate security for that
10 borrowing, if the money is repaid within 3 years one year after
11 the money is borrowed. "Financial institution" means any bank
12 subject to the Illinois Banking Act, any savings and loan
13 association subject to the Illinois Savings and Loan Act of
14 1985, any savings bank subject to the Savings Bank Act, and any
15 federally chartered commercial bank or savings and loan
16 association organized and operated in this State pursuant to
17 the laws of the United States.
18 (Source: P.A. 92-389, eff. 1-1-02.)
 
19     Section 10. The Tri-City Regional Port District Act is
20 amended by adding Section 7.5 as follows:
 
21     (70 ILCS 1860/7.5 new)
22     Sec. 7.5. Authorization to borrow moneys. The District's
23 Board may borrow money from any bank or other financial
24 institution and may provide appropriate security for that
25 borrowing, if the money is repaid within 3 years after the
26 money is borrowed. "Financial institution" means any bank
27 subject to the Illinois Banking Act, any savings and loan
28 association subject to the Illinois Savings and Loan Act of
29 1985, any savings bank subject to the Savings Bank Act, and any
30 federally chartered commercial bank or savings and loan

 

 

HB1679 Enrolled - 2 - LRB094 03138 MKM 33139 b

1 association organized and operated in this State pursuant to
2 the laws of the United States.