65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-48.3-20

(65 ILCS 5/11-48.3-20) (from Ch. 24, par. 11-48.3-20)

Sec. 11-48.3-20.

All funds deposited by the treasurer in any bank or
savings and loan association shall be placed in the name of the Authority
and shall be withdrawn or paid out only by check or draft upon the bank or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 chairperson of the Board. The Board may designate any of its members or
any officer or employee of the Authority to affix the signature of the
chairperson and another 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. 86-279.)

65 ILCS 5/11-48.3-21

(65 ILCS 5/11-48.3-21) (from Ch. 24, par. 11-48.3-21)

Sec. 11-48.3-21.

In case any officer whose signature appears upon any
check or draft, issued pursuant to this Act, ceases (after attaching his or
her signature) to hold office before the delivery thereof to the payee, his
or her signature nevertheless shall be valid and sufficient for all
purposes with the same effect as if he or she had remained in office until
delivery thereof.

(Source: P.A. 86-279.)