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Illinois Compiled Statutes - Full Text
Illinois Compiled Statutes (ILCS)
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(70 ILCS 3605/16) (from Ch. 111 2/3, par. 316)
Sec. 16.
The Authority shall have power to invest and reinvest any funds
held in reserve or sinking funds not required for immediate disbursement in
bonds or notes of the United States, bonds of the State of Illinois or of
Cook County or of the City of Chicago or of the Chicago Park District or of
the Sanitary District of Chicago, or of the Board of Education of the City
of Chicago and in bonds or certificates of the Authority at not to exceed
their par value or their call price and to sell these securities whenever
the funds are needed for disbursement. Such investment or reinvestment of
any fund shall not be in conflict with any provisions of any trust
agreement securing the payment of bonds or certificates of the Authority.
(Source: Laws 1945, p. 1171.)
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