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(70 ILCS 531/6)
Sec. 6. Records and reports of the Authority. The secretary shall keep a
record of the proceedings of the Authority. The treasurer of the Authority
shall be
custodian of all Authority funds, and shall be bonded in such amount as the
other
members of the Authority may designate. The accounts and bonds of the Authority
shall
be set up and maintained in a manner approved by the Auditor General, and the
Authority
shall file with the Auditor General a certified annual report within 120 days
after the
close of its fiscal year. The Authority shall also file with the Governor, the
Secretary of
the Senate, the Clerk of the House of Representatives, and the Commission on Government Forecasting and Accountability, by March 1 of each year, a written report
covering
its activities and any activities of any instrumentality corporation
established under
this Act for the previous fiscal year. In its report to be filed by March 1,
2010, the
Authority shall present an economic development strategy for all municipalities
with a
municipal poverty rate greater than 3% in excess of the statewide average, the
Authority
shall make modifications in the economic development strategy for the 4 years
beginning on the next ensuing July 1, to reflect changes in economic conditions
or
other factors, including the policies of the Authority and the State of
Illinois. It
shall also present an economic development strategy for the fifth year
beginning after the
next ensuing July 1. The strategy shall recommend specific legislative and
administrative action by the State, the Authority, units of local government,
or
other governmental agencies. These recommendations may include, but are not
limited to, new programs, modifications to existing programs, credit
enhancements for bonds issued by the Authority, and amendments to this Act.
When filed, the report shall be a public record and open for inspection at the
offices of the Authority during normal business hours.
(Source: P.A. 100-1148, eff. 12-10-18.) |
