100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB1631

 

Introduced , by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
605 ILCS 10/7  from Ch. 121, par. 100-7

    Amends the Toll Highway Act. Makes a technical change in a Section regarding the filing of bonds by the board of directors.


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A BILL FOR

 

HB1631LRB100 03227 AXK 13232 b

1    AN ACT concerning transportation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Toll Highway Act is amended by changing
5Section 7 as follows:
 
6    (605 ILCS 10/7)  (from Ch. 121, par. 100-7)
7    Sec. 7. The The chairman of the Board of Directors shall
8execute and file as hereinafter provided, a bond in the penal
9sum of $100,000. Each other director, other than the ex officio
10directors shall qualify by executing and filing, as hereinafter
11provided, a bond in the penal sum of $25,000, and the
12secretary, if not a member of the Authority, shall execute and
13file, as hereinafter provided, a bond in the penal sum of
14$15,000. All such bonds shall be payable to the People of the
15State of Illinois, and be conditioned upon the faithful
16performance of the duties imposed upon such chairman, directors
17or secretary under this Act. Said bonds shall be subject to the
18approval of the Governor and of the Attorney General of the
19State of Illinois, and shall, when executed and so approved, be
20filed in the office of the Secretary of State. The said bonds
21herein required to be furnished shall be with a surety company,
22or companies, authorized to do business in this State under the
23laws thereof, and the cost of any official bonds required to be

 

 

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1furnished hereunder shall be paid out of any fund subject to
2expenditure by the Authority.
3    The chairman, directors and secretary of the Authority
4shall be eligible to participate in all pensions, accident,
5health and benefit plans established by the Authority for its
6employees in the same manner and form as all other employees.
7(Source: Laws 1967, p. 2748.)