(70 ILCS 1505/23) (from Ch. 105, par. 333.23)
Sec. 23.
The treasurer or other officer responsible for the funds of the
district, shall be discharged from the responsibility for all moneys
deposited by him pursuant to order, or ordinances of the commission with
any depository which may be so named and qualified, and this shall be
considered by said commission in fixing the bond of such treasurer. The
commission shall have full authority to regulate by ordinance all details
with respect to the matters covered by this Section and to establish active
and inactive banks or savings and loan associations
or to make any other provisions appropriate or
incident to the proper exercise of the duties imposed by this Section.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of "An Act relating to certain
investments of public funds by public agencies", approved July 23, 1943, as
now or hereafter amended.
Notwithstanding any provision of this Act or of any other law, the
treasurer or other officer responsible for the funds of the district,
including, without limitation, each person properly designated as official
custodian of any funds held for the district, including, without
limitation, the official custodian of district funds held by an
intergovernmental risk management association or self-insurance pool
composed solely of participating park districts, forest preserve districts
or joint recreational programs, is permitted to (i) combine moneys from
more than one fund of the district, a risk management association, including
the district, or a self-insurance pool, including the district
for the purpose of investing
such moneys, (ii) enter into agreements of any definite or indefinite term
regarding the deposit, redeposit, investment, reinvestment or withdrawal of
district, risk management association or self-insurance pool funds and
(iii) join with any custodians or treasurers of park district, joint
recreational program, risk management association, self-insurance pool or
forest preserve district funds for the purpose of investing any district,
risk management association or self-insurance pool funds in his custody.
When funds are combined for investment purposes as authorized herein, the
moneys combined for such purposes shall be accounted for separately in all
respects, and the earnings from such investment shall be separately and
individually computed and recorded, and credited to the fund, district,
joint recreational program, risk management association, self-insurance
pool or other entity as the case may be, for which the investment was
acquired. The grant of authority contained in this Section is cumulative
and supplemental and in addition to all other powers or authority granted
by any other law and shall not be construed as a limitation of any power or
authority otherwise granted.
(Source: P.A. 85-1411.)
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