(70 ILCS 1832/80)
Sec. 80.
Revenue bonds as legal investments.
The State and all counties,
cities, villages, incorporated towns
and other municipal corporations, political subdivisions, public bodies,
and public officers of any thereof; all banks, bankers, trust companies,
savings banks and institutions, building and loan associations, savings and
loan associations, investment companies, and other persons carrying on a
banking business; all insurance companies, insurance associations, and other
persons carrying on an insurance business; and all executors,
administrators, guardians, trustees, and other fiduciaries may legally
invest any sinking funds, moneys, or other funds belonging to them or within
their control in any bonds, notes, or certificates issued under this
Act. It is the purpose of this Section to authorize the investment in
bonds, notes, or certificates of all sinking, insurance, retirement,
compensation, pension, and trust funds, whether owned or controlled by private
or public persons or officers; provided, however, that nothing contained in
this Section may be construed as relieving any person from any duty of
exercising reasonable care in selecting securities for purchase or investment.
(Source: P.A. 90-636, eff. 7-24-98.)
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