(65 ILCS 5/4-5-22) (from Ch. 24, par. 4-5-22)
Sec. 4-5-22.
Treasurer; duties.
In addition to the duties now imposed
by law upon a municipal
treasurer, the treasurer of a municipality under the commission form of
municipal government shall deposit all money the treasurer
receives from all sources
of revenue, to his or her credit as treasurer of the municipality, in one
or more
places of deposit designated in the same manner and subject to the same
conditions as provided in Section 3.1-35-50.
The treasurer (i) shall collect any interest
paid on these
deposits, (ii) shall report that interest in the
treasurer's next statement
following its collection, and (iii) shall credit the interest to
the
particular fund of the municipality upon which the interest accrued. This
interest shall be treated as a part of that particular fund and shall be
subject to use for any purpose for which the fund may be used.
(Source: P.A. 87-1119.)
|