093_SB1105eng

 
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 1        AN ACT concerning municipalities.

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

 4        Section 5. The Illinois  Municipal  Code  is  amended  by
 5    adding Section 8-8-9.5 as follows:

 6        (65 ILCS 5/8-8-9.5 new)
 7        Sec.  8-8-9.5.  Cicero audit committee.  The Cicero Audit
 8    Committee is created.  The duties of  the  Committee  are  to
 9    review  the  audit  reports  prepared  under this Act and any
10    other financial reports and documents,  including  management
11    letters,  prepared by or on behalf of the Town of Cicero.  No
12    later than February 1  of  each  year,  the  Committee  shall
13    report  to  the  Governor  and  to the members of the General
14    Assembly regarding the financial reporting  of  the  Town  of
15    Cicero.
16        The Committee shall consist of 5 members appointed by the
17    Governor  with  the  advice  and  consent of the Senate.  The
18    appointments to the Committee must be made  within  180  days
19    after  the  effective date of this amendatory Act of the 93rd
20    General Assembly.  No more than 2 members  of  the  Committee
21    may  be  residents of the Town of Cicero.  The members of the
22    Committee  shall  serve  without  compensation  but  may   be
23    reimbursed  by  the  Town  of  Cicero  for  their  reasonable
24    expenses related to their service on the Committee.
25        The  corporate  authorities  of  the  Town of Cicero must
26    provide any information or documents to  the  Committee  that
27    the  Committee  deems  necessary  in  carrying out its duties
28    under this Section.
29        The Town of Cicero may not regulate  its  finances  in  a
30    manner  inconsistent  with  the  provisions  of this Section.
31    This Section is a limitation under subsection (i) of  Section
 
SB1105 Engrossed            -2-      LRB093 10787 BDD 11368 b
 1    6  of  Article  VII  of  the  Illinois  Constitution  on  the
 2    concurrent   exercise  by  home  rule  units  of  powers  and
 3    functions exercised by the State.
 4        This Section is repealed on February 15, 2006.

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