93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5947

 

Introduced 2/6/2004, by Tom Cross

 

SYNOPSIS AS INTRODUCED:
 
15 ILCS 520/4   from Ch. 130, par. 23

    Amends the Deposit of State Moneys Act. Makes a technical change in a Section concerning classes of depositaries.


LRB093 19214 RCE 44949 b

 

 

A BILL FOR

 

HB5947 LRB093 19214 RCE 44949 b

1     AN ACT concerning State moneys.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Deposit of State Moneys Act is amended by
5 changing Section 4 as follows:
 
6     (15 ILCS 520/4)  (from Ch. 130, par. 23)
7     Sec. 4. There shall be 2 two classes of depositaries, time
8 deposit and demand deposit, and separate proposals shall be
9 obtained for each class. In calling for proposals the State
10 Treasurer shall indicate that separate quotations of rates of
11 interest may be made upon such State moneys as shall be
12 deposited in such bank or savings and loan association and
13 permitted to remain without diminution for 30, 60 or 90 days,
14 or for longer periods.
15 (Source: P.A. 83-541.)