Illinois Statutes
§ 150-30 — Use of bond sale proceeds
Illinois·Topic GOVERNMENT·Ch. 60 TOWNSHIPS·Act 60 ILCS 1/ Township Code.·Art. Article 150 - Township Community Buildings
The proceeds of the sale of bonds shall be expended by the board of managers for the purpose of purchasing, erecting, or equipping a community building or buildings or acquiring a site for a community building or buildings. The board of managers may exercise any other powers necessarily incidental in order to carry out the provisions of this Article. The supervisor of the township shall be treasurer of the funds provided for in this Article and shall pay out those funds only on the written order of a majority of the board of managers.
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Legislative History
(Source: Laws 1929, p. 771; P.A. 88-62.)
Nearby Sections
15
§ 150-20
Issuance of bonds§ 150-25
Tax§ 150-30
Use of bond sale proceeds§ 150-35
Acquisition of property or funds§ 150-40
Maintenance tax; referendum§ 150-45
Supervisor's bond§ 150-65
Annual report§ 150-70
§ 150-70§ 150-75
§ 150-75