(60 ILCS 1/125-20)
Sec. 125-20. Use of bond proceeds. The proceeds of the bonds shall be
received and held by the township supervisor but shall be expended under the
direction and upon the warrant of a majority of the members of the board of trustees of
the township. However, a majority of the members of the board of trustees may designate that the bond proceeds be expended under the direction and upon the warrant of the highway commissioner if the highway commissioner provides written consent to that action. If, however, at the time the proceeds are received there is a
board of park commissioners invested by law with control over any park that
lies wholly or in part in the township, the proceeds of the bonds shall be
expended upon the warrants of a majority of the board of park commissioners.
The board of trustees, highway commissioner or board of park commissioners may designate the
parcel or parcels of land or property to be utilized for the purchase of the
parks and may determine the character, time, and manner of improving,
developing, maintaining, and adorning the parcel or parcels.
(Source: P.A. 95-759, eff. 7-28-08.)
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