SB2871 Engrossed LRB094 14947 AJO 50035 b

1     AN ACT concerning local government.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Chicago Park District Working Cash Fund Act
5 is amended by adding Section 4.1 as follows:
 
6     (70 ILCS 1510/4.1 new)
7     Sec. 4.1. Abolishment of working cash fund.
8     (a) The commissioners of the Chicago Park District may
9 abolish its working cash fund by resolution and may transfer
10 any balance remaining in the fund, including any interest that
11 may have accrued, to the general corporate fund of the Chicago
12 Park District at the end of the then current fiscal year. Any
13 outstanding loans to other District funds shall be paid or
14 become payable to the general corporate fund of the Chicago
15 Park District at the close of the then current fiscal year.
16     (b) Any obligation incurred by the Chicago Park District
17 pursuant to Section 2 shall be discharged as therein provided.
 
18     Section 99. Effective date. This Act takes effect upon
19 becoming law.