(70 ILCS 1205/8-8a)
Transfer of interest income.
Any park district, when requested
treasurer, may transfer the interest earned on any of the moneys of the
district into the
fund of the district that is most in need of the interest. This Section does
not apply to any
interest earned that has been earmarked or restricted for a designated purpose.
Section does not apply to any interest earned on any funds for the purposes of
retirement under the Illinois Pension Code and tort immunity under the Local
Governmental and Governmental Employees Tort Immunity Act. Interest earned on
these funds may be used only for the purposes authorized for the respective
which the interest earnings were derived.
(Source: P.A. 91-300, eff. 7-29-99.)