(70 ILCS 1525/3)
(from Ch. 105, par. 333.43d)
Money received from the proceeds of taxes levied for payment of
principal of and interest upon such bonds shall be deposited in a special
fund of such park district suitably designated for identification and such
fund shall be faithfully applied to the payment of bonds and interest
thereon for which such taxes were levied.
If such money is not immediately necessary for the payment of said bonds
or if such bonds cannot be purchased before maturity then said money may be
invested under the direction of the commissioners in direct obligations of
the United States of America, which shall mature or which shall be subject
to redemption by the holder thereof at the option of such holder prior to
the date such funds shall be required for the purpose for which they are
held. Interest accruing on and profit or loss realized from the investment
of such funds shall be credited or charged to such special account.
(Source: Laws 1965, p. 1821.)