(70 ILCS 3605/39) (from Ch. 111 2/3, par. 339)
Sec. 39.
The Board shall withdraw from the gross receipts of the Authority
and charge to operating expenses such an amount of money as in the opinion
of the Board shall be sufficient to provide for the adjustment, defense and
satisfaction of all suits, claims, demands, rights and causes of action and
the payment and satisfaction of all judgments entered against the Authority
for damage caused by injury to or death of any person and for damage to
property resulting from the construction, maintenance and operation of the
transportation system and the Board shall deposit such moneys in a fund to
be known and designated as Damage Reserve Fund. The Board shall use the
moneys in the Damage Reserve Fund to pay all expenses and costs arising
from the adjustment, defense and satisfaction of all suits, claims,
demands, rights and causes of action and the payment and satisfaction of
all judgments entered against the Authority for damages caused by injury to
or death of any person and for damage to property resulting from the
construction, maintenance and operation of the transportation system. At
any time and from time to time the Board may obtain and maintain insurance
coverage or protection partially or wholly insuring or indemnifying the
Authority against loss or liability on account of injury to or death of any
person and for damage to property resulting from the construction,
maintenance and operation of the transportation system. The cost of
obtaining and maintaining such insurance shall be paid out of the moneys in
the Damage Reserve Fund. All moneys received from such insurance coverage
or protection shall be paid into the Damage Reserve Fund.
(Source: Laws 1945, p.1171.)
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