(30 ILCS 340/3)
(from Ch. 120, par. 408)
There shall be prepared under the direction of the officers
named in this Act such form of bonds or certificates as they shall deem
advisable, which, when issued, shall be signed by the Governor, Comptroller
and Treasurer, and shall be recorded by the Comptroller in a
book to be kept by him or her for that purpose. The interest and principal
of such loan shall be paid by the treasurer out of the General Obligation Bond
Retirement and Interest Fund.
There is hereby appropriated out of any money in the Treasury a sum
sufficient for the payment of the interest and principal of any debts
contracted under this Act.
The Governor, Comptroller, and Treasurer are
authorized to order pursuant to the proceedings authorizing those debts the
transfer of any moneys on deposit in the treasury into the General
Obligation Bond Retirement and Interest Fund at times and in amounts they
deem necessary to provide for the payment of that interest and principal.
The Comptroller is hereby authorized and directed to draw his warrant on
the State Treasurer for the amount of all such payments.
The directive authorizing borrowing under Section 1 or 1.1 of this Act
shall set forth a pro forma cash flow statement that identifies estimated
monthly receipts and expenditures with identification of sources for
repaying the borrowed funds.
All proceeds from any borrowing under this Act received by the State on or after June 10, 2004 and before July 1, 2004 shall be deposited into the Medicaid Provider Relief Fund.
(Source: P.A. 88-669, eff. 11-29-94; 93-674, eff. 6-10-04; 93-1046, eff. 10-15-04.)