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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(70 ILCS 3615/3A.12) (from Ch. 111 2/3, par. 703A.12)
Sec. 3A.12. Working Cash Borrowing. The Suburban Bus Board with the
affirmative vote of 9 of its Directors may demand and direct the Board of
the Authority to issue Working Cash Notes at such time and in such amounts
and having such maturities as the Suburban Bus Board deems proper, provided
however any such borrowing shall have been specifically identified in the
budget of the Suburban Bus Board as approved by the Board of the Authority.
Provided further, that the Suburban Bus Board may not demand and direct
the Board of the Authority to have issued and have outstanding at any time
in excess of $5,000,000 in Working
Cash Notes.
(Source: P.A. 95-906, eff. 8-26-08.)
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