Illinois General Assembly - Illinois Compiled Statutes

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70 ILCS 805/23

(70 ILCS 805/23)

Sec. 23.

Transfer of interest income.

Each forest preserve district shall
have the power to transfer the interest
earned from any moneys of the district into the respective fund of the district
that is most in need of the interest income, as determined by the board of
commissioners.  This Section does not apply to any interest earned that has
been earmarked or restricted by the board for a designated purpose.  This
Section does not apply to any interest earned on any funds for purposes of
the Illinois Municipal Retirement Fund under the Pension Code or tort
immunity under
the Local Governmental and Governmental Employees Tort Immunity Act.  Interest
earned on these exempted funds shall be used only for the purposes authorized
for the respective exempted funds from which the interest earnings were
derived.

(Source: P.A. 90-176, eff. 1-1-98.)