Illinois § 20-62 Funds; compliance with Public Funds Investment Act

Illinois Statutes

§ 20-62 — Funds; compliance with Public Funds Investment Act

Illinois § 20-62

JurisdictionIllinois

TopicGOVERNMENT

Ch. 70SPECIAL DISTRICTS

Act 70 ILCS 200/Civic Center Code.

Art.Article 20 - Bloomington Civic Center

This text of Illinois § 20-62 (Funds; compliance with Public Funds Investment Act) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

70 Ill. Comp. Stat. 20-62 (2026).

Text

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by the treasurer in any bank or savings and loan association shall be placed in the name of the Authority and shall be withdrawn or paid out only by check or draft upon the bank or savings and loan association, signed by the chairman, vice-chairman, secretary or treasurer and countersigned by one of the same officers, but no one officer shall both sign and countersign a check or draft. The Board may designate any of its members or any officer or employee of the Authority to affix the signature of the chairman 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 Secti

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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by the treasurer in any bank or savings and loan association shall be placed in the name of the Authority and shall be withdrawn or paid out only by check or draft upon the bank or savings and loan association, signed by the chairman, vice-chairman, secretary or treasurer and countersigned by one of the same officers, but no one officer shall both sign and countersign a check or draft. The Board may designate any of its members or any officer or employee of the Authority to affix the signature of the chairman 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 the Public Funds Investment Act.