(70 ILCS 1850/21) (from Ch. 19, par. 421)
Sec. 21.
All funds deposited by the treasurer in any bank or savings
and loan association shall be placed
in the name of the District and shall be withdrawn or paid out only by
check or draft upon the bank or savings and loan association, signed
by the treasurer and countersigned by
the chairman of the Board. Subject to prior approval of such designations
by a majority of the Board, the chairman may designate any other Board
member or any officer of the District to affix the signature of the
chairman and the treasurer may designate any other officer of the District
to affix the signature of the treasurer to any check or draft for payment
of salaries or wages and for payment of any other obligation of not more
than $2,500.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of "An Act relating to certain investments of public
funds by public agencies", approved July 23, 1943, as now or hereafter amended.
(Source: P.A. 83-541.)
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