Public Act 0037 98TH GENERAL ASSEMBLY

HB0479 Enrolled LRB098 03297 OMW 33312 b

Public Act 098-0037

AN ACT concerning local government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Medical District Act is amended by changing Section 10 as follows:

(70 ILCS 915/10) (from Ch. 111 1/2, par. 5020)

Sec. 10. Disposition of money. The Commission is authorized to use all money received from the sale or lease of any property, in excess of the amount as may be necessary to satisfy the obligation of any revenue bond issued pursuant to Section 5 and may also use all money received as rentals for the purposes of planning, acquisition, and development of property within the District and operation, maintenance and improvement of property of the Commission and for all purposes and powers set forth in this Act. The Commission shall annually enter into an intergovernmental agreement with the Auditor General, who shall, at least biennially, audit or cause to be audited by a certified public accountant all records and accounts of the Commission pertaining to the operation of the District. The Commission Auditor General shall provide the Commission and the General Assembly with the audits and shall post a copy on the Commission's his or her website. The Auditor General shall submit a bill to the Commission for costs associated with the review and the audit required under this Section, and the Commission shall reimburse the Auditor General for such costs in a timely manner.

(Source: P.A. 97-825, eff. 7-18-12.)

Section 99. Effective date. This Act takes effect upon becoming law.

Effective Date: 6/28/2013