(70 ILCS 1807/80)
Sec. 80.
Revenue bonds as legal investments.
The State and all counties,
cities, villages, incorporated towns and other municipal corporations,
political
subdivisions, public bodies, and public officers of any thereof; all banks,
bankers, trust
companies, savings banks and institutions,
building and loan associations, savings
and loan associations, investment companies, and other persons carrying on a
banking
business; all insurance companies, insurance associations, and other persons
carrying on
an insurance business; and all executors, administrators, guardians, trustees,
and their
fiduciaries may legally invest any sinking funds, moneys, or other funds
belonging to
them or within their control in any bonds, notes, or certificates issued under
this Act. It
is the purpose of this Section to authorize the investment in bonds, notes, or
certificates
of all sinking, insurance, retirement, compensation, pension, and trust funds,
whether
owned or controlled by private or public persons or officers; provided,
however, that
nothing contained in this Section may be construed as relieving any person from
any
duty of exercising reasonable care in selecting securities for purchase or
investment.
(Source: P.A. 93-262, eff. 7-22-03.)
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