(30 ILCS 410/1)
(from Ch. 127, par. 464)
Upon each delivery of bonds authorized to be issued under the
"Anti-Pollution Bond Act," approved July 2, 1970, the Comptroller shall
compute and certify to the State Treasurer the total amount of principal
of and interest on the bonds issued that will be payable in order to retire
such bonds and the amount of principal of and interest on such bonds that
will be payable on each payment date according to the tenor of such bonds
during the then current and each succeeding fiscal year.
On the last day of each month, commencing with the month in which
such bonds are issued and delivered, and appropriation has been made for
payment of principal and interest for any such bonds, the State
Treasurer and the Comptroller shall transfer from the general revenue
fund in the State Treasury to the Anti-Pollution Bond Retirement and
Interest Fund in the State Treasury a sum of money equal to the result
of the amount of principal of and interest on such bonds payable on the
next payment date divided by the number of full calendar months between
the date of such bond and the first such payment date, and thereafter
divided by the number of months between each succeeding payment date
after the first.
Such computations and transfers shall be made for each time any such
bonds are issued and delivered.
The transfer from the General Revenue Fund hereinabove directed is
not required if monies in the Anti-Pollution Bond Retirement and
Interest Fund received as interest derived from investments and other
sources are more than the amount otherwise to be transferred as
hereinabove provided, and if the Governor notifies the Comptroller and the
State Treasurer of such fact.
(Source: P.A. 83-1280.)