(70 ILCS 1830/20.2)
Authorization to borrow moneys.
The District's Board may borrow
money from any bank or other financial institution and may provide appropriate
security, including mortgaging real estate, for that borrowing, if the money is repaid within 20 years after the
money is borrowed. "Financial institution" means any bank subject to the
Illinois Banking Act, any savings and loan association subject to the Illinois
Savings and Loan Act of 1985, any savings bank subject to the Savings Bank Act,
and any federally chartered commercial bank or savings and loan association
organized and operated in this State pursuant to the laws of the United States.
(Source: P.A. 99-507, eff. 6-24-16.)