093_SB0037eng
SB37 Engrossed 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.)