(30 ILCS 330/19) (from Ch. 127, par. 669)
Sec. 19. Investment of money not needed for current
expenditures; application of earnings.
(a) The State Treasurer may, with the Governor's approval, invest and
reinvest any money from the Capital Development Fund, the Transportation
Bond, Series A Fund, the Transportation Bond, Series B Fund, the Multi-modal Transportation Bond Fund, the School
Construction Fund, the Anti-Pollution Fund, the Coal Development Fund and
the General Obligation Bond Retirement and Interest Fund, in the State
Treasury, which is not needed for current expenditures due or about to
become due from these funds.
(b) Monies received from the sale or redemption of investments from the
Transportation Bond, Series A Fund and the Multi-modal Transportation Bond Fund shall be deposited by the State
Treasurer in the Road Fund.
Monies received from the sale or redemption of investments from the
Capital Development Fund, the Transportation Bond, Series B Fund, the School
Construction Fund, the Anti-Pollution Fund, and the Coal Development Fund
shall be deposited by the State Treasurer in the General Revenue Fund.
Monies from the sale or redemption of investments from the General
Obligation Bond Retirement and Interest Fund shall be deposited in the
General Obligation Bond Retirement and Interest Fund.
(c) Monies from the Capital Development Fund, the Transportation Bond,
Series A Fund, the Transportation Bond, Series B Fund, the Multi-modal Transportation Bond Fund, the School
Construction Fund, the Anti-Pollution Fund, and the Coal Development Fund
may be invested as permitted in the Deposit of State Moneys Act and in the Public Funds Investment Act. Monies from the General Obligation Bond Retirement and Interest
Fund may be invested in securities constituting direct obligations of the
United States Government, or obligations, the principal of and interest on which
are guaranteed by the United States Government, or certificates of deposit
of any state or national bank or savings and loan association.
For amounts not insured by the Federal Deposit Insurance Corporation or
the Federal Savings and Loan Insurance Corporation, as security the State
Treasurer shall accept securities constituting direct obligations of the
United States Government, or obligations, the principal of and interest on
which are guaranteed by the United States Government.
(d) Accrued interest paid to the State at the time of the delivery of
the Bonds shall be deposited into the General Obligation Bond Retirement and Interest
Fund in the State Treasury.
(Source: P.A. 101-30, eff. 6-28-19; 102-558, eff. 8-20-21.)
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