| |
Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
SPECIAL DISTRICTS (70 ILCS 3615/) Regional Transportation Authority Act. 70 ILCS 3615/3.06
(70 ILCS 3615/3.06) (from Ch. 111 2/3, par. 703.06)
Sec. 3.06.
Territory and Annexation.
The initial territory of the Authority shall be Cook, DuPage, Kane,
Lake, McHenry and Will Counties, Illinois. Any other county or portion
thereof in Illinois contiguous to the metropolitan region may be annexed
to the Authority on such conditions as the Authority shall by ordinance
prescribe, by ordinance adopted by the county board of such county, and
by approval by the Authority. Upon such annexation, a certificate of
such action shall be filed by the Secretary of the Authority with the
County Clerk of the county so annexing to the Authority and with the
Secretary of State of Illinois and the State Department of Revenue.
No area may be annexed to the Authority except upon the approval of a
majority of the electors of such area voting on the proposition so to
annex, which proposition may be presented at any regular
election as provided by the county board or boards of the county or
counties in which the area in question is located. Such county board or
boards shall cause certification of such proposition to be given
in accordance with the general election law
to the proper election officers who shall submit the proposition at an election
in accordance with the general election law.
(Source: P.A. 81-1489.)
|
70 ILCS 3615/3.08
(70 ILCS 3615/3.08) (from Ch. 111 2/3, par. 703.08)
Sec. 3.08.
There is established a Regional Citizens Advisory
Board. This board shall be comprised of the Chairmen of the Citizens Advisory
Boards of the Chicago Transit Authority, the Commuter Rail Board and the
Suburban Bus Board. This Board shall meet at least quarterly and shall advise
the Board of the impact of its policies and programs on the communities
within the metropolitan region. Members shall serve without compensation.
(Source: P.A. 83-886.)
|
70 ILCS 3615/3.09
(70 ILCS 3615/3.09)
Sec. 3.09. (Repealed).
(Source: P.A. 83-886. Repealed by P.A. 95-708, eff. 1-18-08.)
|
70 ILCS 3615/3.10
(70 ILCS 3615/3.10)
Sec. 3.10. (Repealed).
(Source: P.A. 83-886. Repealed by P.A. 95-708, eff. 1-18-08.)
|
70 ILCS 3615/3.11 (70 ILCS 3615/3.11) Sec. 3.11. Free and reduced fare services. The Authority shall provide the Department of Public Health with a monthly list of all riders that receive free or reduced fares. The list shall include an individual's name, address, and date of birth. The Department of Public Health shall, within 2 weeks after receipt of the list, report back to the Authority any discrepancies that indicate that a rider receiving free or reduced fare services is deceased. The Authority upon receipt of the report from the Department of Public Health shall take appropriate steps to remove any deceased individual's name from the list of individuals eligible under the free or reduced fare programs.
(Source: P.A. 97-781, eff. 1-1-13.) |
70 ILCS 3615/3.12 (70 ILCS 3615/3.12) Sec. 3.12. Reduced or free transit fare study. (a) By July 1, 2024, the Authority shall conduct a study and submit a report to the Governor and General Assembly regarding free and reduced fares and the development of a more equitable fare structure for the regional transit system. The study shall include: (1) The impact and feasibility of providing | | year-round reduced or free transit fares, including, but not limited to, veterans, returning residents, students and youths, people experiencing low-incomes, and other riders who are not currently receiving free or reduced fares.
|
| (2) A review of all reduced fare programs
| | administered by the Authority and the service boards, which includes information on accounting of the total cost of the program, costs to increase the program, current sources of funding for the program, and recommendations to increase enrollment in current reduced fare and free-ride programs and any other recommendations for improvements to the programs.
|
| (3) Analysis of how reduced and free ride programs
| | and changes in eligibility and funding for these programs would affect the regional transit operating budget.
|
| (b) In this Section, "returning resident" means any United States resident who is 17 years of age or older and has been in and left the physical custody of the Department of Corrections within the last 36 months.
(Source: P.A. 103-281, eff. 1-1-24 .)
|
70 ILCS 3615/Art. III-A
(70 ILCS 3615/Art. III-A heading)
ARTICLE III-A
SUBURBAN BUS DIVISION
|
70 ILCS 3615/3A.01
(70 ILCS 3615/3A.01) (from Ch. 111 2/3, par. 703A.01)
Sec. 3A.01.
Suburban Bus Division.
There is established within the
Authority the Suburban Bus Division as the operating division responsible
for providing public transportation by bus and as may be provided in this
Act. Purchase of service agreements between a transportation agency and the
Authority in effect on the effective date of this amendatory Act shall
remain in full force and effect in accordance with the terms of such
agreement. Such agreements shall first be the responsibility of the
Transition Board and, on the date of its creation, shall be the
responsibility of the Suburban Bus Division and its Board.
(Source: P.A. 83-885; 83-886.)
|
70 ILCS 3615/3A.02
(70 ILCS 3615/3A.02) (from Ch. 111 2/3, par. 703A.02)
Sec. 3A.02. Suburban Bus Board. The governing body of the Suburban
Bus Division shall be a board consisting of 13 directors appointed as follows:
(a) Six Directors appointed by the members of the | | Cook County Board elected from that part of Cook County outside of Chicago, or in the event such Board of Commissioners becomes elected from single member districts, by those Commissioners elected from districts, a majority of the residents of which reside outside of Chicago from the chief executive officers of the municipalities, of that portion of Cook County outside of Chicago. Provided however, that:
|
|
(i) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the Northwest Region defined in Section 3A.13;
|
|
(ii) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the North Central Region defined in Section 3A.13;
|
|
(iii) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the North Shore Region defined in Section 3A.13;
|
|
(iv) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the Central Region defined in Section 3A.13;
|
|
(v) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the Southwest Region defined in Section 3A.13;
|
|
(vi) One of the Directors shall be the chief
| | executive officer of a municipality within the area of the South Region defined in Section 3A.13;
|
|
(b) One Director by the Chairman of the Kane County
| | Board who shall be a chief executive officer of a municipality within Kane County;
|
|
(c) One Director by the Chairman of the Lake County
| | Board who shall be a chief executive officer of a municipality within Lake County;
|
|
(d) One Director by the Chairman of the DuPage County
| | Board who shall be a chief executive officer of a municipality within DuPage County;
|
|
(e) One Director by the Chairman of the McHenry
| | County Board who shall be a chief executive officer of a municipality within McHenry County;
|
|
(f) One Director by the Chairman of the Will County
| | Board who shall be a chief executive officer of a municipality within Will County;
|
|
(g) The Commissioner of the Mayor's Office for People
| | with Disabilities, from the City of Chicago, who shall serve as an ex-officio member; and
|
| (h) The Chairman by the Governor for the initial
| | term, and thereafter by a majority of the Chairmen of the DuPage, Kane, Lake, McHenry and Will County Boards and the members of the Cook County Board elected from that part of Cook County outside of Chicago, or in the event such Board of Commissioners is elected from single member districts, by those Commissioners elected from districts, a majority of the electors of which reside outside of Chicago; and who after the effective date of this amendatory Act of the 95th General Assembly may not be a resident of the City of Chicago.
|
|
Each appointment made under paragraphs (a) through (g) and under Section
3A.03 shall be certified by the appointing authority to the Suburban Bus
Board which shall maintain the certifications as part of the official records
of the Suburban Bus Board; provided that the initial appointments shall
be certified to the Secretary of State, who shall transmit the certifications
to the Suburban Bus Board following its organization.
For the purposes of this Section, "chief executive officer of a
municipality" includes a former chief executive officer of a municipality
within the specified Region or County, provided that the former officer
continues to reside within such Region or County.
(Source: P.A. 95-906, eff. 8-26-08.)
|
70 ILCS 3615/3A.03
(70 ILCS 3615/3A.03) (from Ch. 111 2/3, par. 703A.03)
Sec. 3A.03. Terms, Vacancies. The initial term of the directors appointed
pursuant to subdivision (a) of Section 3A.02 shall expire on
June 30, 1985; the initial term of the directors appointed pursuant
to subdivisions (b) through (g) of Section 3A.02
shall expire on June 30, 1986. Thereafter, each director shall be appointed
for a term of 4 years, and until his successor has been appointed and
qualified. A vacancy shall occur upon the resignation, death, conviction
of a felony, or removal from office of a director. Any director may be
removed from office (i) upon the concurrence of not less than 8 directors,
on a formal finding of incompetence, neglect of duty, or malfeasance
in office or (ii) by the Governor in response to a summary report received from the Executive Inspector General in accordance with Section 20-50 of the State Officials and Employees Ethics Act, provided he or she has an opportunity to be publicly heard in person or by counsel prior to removal. Within 30 days after the office of any director becomes vacant
for any reason, the appointing authorities of such director shall make an
appointment to fill the vacancy. A vacancy shall be filled for the unexpired
term. The initial directors other than the chairman shall be appointed
within 180 days of November 9, 1983.
On June 1, 1984 the seat of any Director of the Suburban Bus Board not
yet filled shall be deemed vacant and shall be chosen by the election of
all the legislative members of the General Assembly representing the affected
area. In order to qualify as a voting legislative member in this matter,
the affected area must be more than 50% of the geographic area of the
legislative district.
(Source: P.A. 96-1528, eff. 7-1-11 .)
|
70 ILCS 3615/3A.04
(70 ILCS 3615/3A.04) (from Ch. 111 2/3, par. 703A.04)
Sec. 3A.04.
Chairman and Other Officers.
The Chairman shall preside
at meetings of the Suburban Bus Board and shall be entitled to vote on all
matters. The Suburban Bus Board shall select a Secretary and a Treasurer
and may select persons to fill such other offices of the Division and to
perform such duties as it shall from time to time determine. The Secretary,
Treasurer and other officers of the Division may, but need not be, members
of the Suburban Bus Board.
(Source: P.A. 83-886.)
|
70 ILCS 3615/3A.05
(70 ILCS 3615/3A.05) (from Ch. 111 2/3, par. 703A.05)
Sec. 3A.05. Appointment of officers and employees. The Suburban Bus
Board shall appoint an Executive Director who shall be the chief executive
officer of the Division, appointed, retained or dismissed with the concurrence
of 9 of the directors of the Suburban Bus Board. The Executive Director
shall appoint, retain and employ officers, attorneys, agents, engineers,
employees and shall organize the staff, shall allocate their functions and
duties, fix compensation and conditions of employment, and consistent with
the policies of and direction
from the Suburban Bus Board take all actions necessary to achieve its purposes,
fulfill its responsibilities and carry out its powers, and shall have such
other powers and responsibilities as the Suburban Bus Board shall determine.
The Executive Director shall be an individual of proven transportation and
management skills and may not be a member of the Suburban Bus Board. The
Division may employ its own professional management personnel to provide
professional and technical expertise concerning its purposes
and powers and to assist it in assessing the performance of transportation
agencies in the metropolitan region.
No employee, officer, or agent of the Suburban Bus Board may receive a bonus that exceeds 10% of his or her annual salary unless that bonus has been reviewed by the Regional Transportation Authority Board for a period of 14 days. After 14 days, the contract shall be considered reviewed. This Section does not apply to usual and customary salary adjustments. No unlawful discrimination, as defined and prohibited in the Illinois Human
Rights Act, shall be made in any term or aspect of employment nor shall
there be discrimination based upon political reasons or factors. The Suburban
Bus Board shall establish regulations to insure that its discharges shall
not be arbitrary and that hiring and promotion are based on merit.
The Division shall be subject to the "Illinois Human Rights Act", as now
or hereafter amended, and the remedies and procedure established thereunder.
The Suburban Bus Board shall file an affirmative action program for employment
by it with the Department of Human Rights to ensure that applicants are
employed and that employees are treated during employment, without regard
to unlawful discrimination. Such affirmative action program shall include
provisions relating
to hiring, upgrading, demotion, transfer, recruitment, recruitment advertising,
selection for training and rates of pay or other forms of compensation.
(Source: P.A. 98-1027, eff. 1-1-15 .)
|
70 ILCS 3615/3A.06
(70 ILCS 3615/3A.06) (from Ch. 111 2/3, par. 703A.06)
Sec. 3A.06.
Compensation.
The Chairman of the Suburban Bus Board
shall receive an annual salary of $15,000, and the other members of the
Suburban Bus Board shall receive an annual salary of $10,000. Each member
shall be reimbursed for actual expenses incurred in the performance of his
duties, not to exceed $5000 per year.
Officers of the Division shall not be required to comply with the
requirements of "An Act requiring certain custodians of public monies to
file and publish statements of the receipts and disbursements thereof",
approved June 24, 1919, as now or hereafter amended.
(Source: P.A. 84-939.)
|
70 ILCS 3615/3A.07
(70 ILCS 3615/3A.07) (from Ch. 111 2/3, par. 703A.07)
Sec. 3A.07. Meetings. The Suburban Bus Board shall prescribe the time
and places for meetings and the manner in which special meetings may be
called. The Suburban Bus Board shall comply in all respects with the "Open
Meetings Act", as now or hereafter amended. All records, documents and
papers of the Suburban Bus Division, other than those relating to matters
concerning which closed sessions of the Suburban Bus Board may be held,
shall be available for public examination, subject to such reasonable regulations
as the Suburban Bus Board may adopt.
A majority of the members shall constitute a quorum for the conduct of
business. The affirmative votes of at least 7 members shall be necessary
for any action required by this Act to be taken by ordinance.
Open meetings of the Board shall be broadcast to the public and maintained in real-time on the Board's website using a high-speed Internet connection. Recordings of each meeting broadcast shall be posted to the Board's website within a reasonable time after the meeting and shall be maintained as public records to the extent practicable, as determined by the Board. Compliance with the provisions of this amendatory Act of the 98th General Assembly does not relieve the Board of its obligations under the Open Meetings Act. (Source: P.A. 98-1139, eff. 6-1-15 .)
|
70 ILCS 3615/3A.08
(70 ILCS 3615/3A.08) (from Ch. 111 2/3, par. 703A.08)
Sec. 3A.08. Jurisdiction. Any public transportation by bus within the
metropolitan region, other than public transportation by commuter rail or
public transportation provided by the Chicago Transit Authority pursuant
to agreements in effect on the effective date of this amendatory Act of 1983
or in the City of Chicago and any ADA paratransit services provided pursuant to Section 2.30 of the Regional Transportation Authority Act, shall be subject to the jurisdiction of the Suburban
Bus Board.
(Source: P.A. 94-370, eff. 7-29-05.)
|
70 ILCS 3615/3A.09
(70 ILCS 3615/3A.09) (from Ch. 111 2/3, par. 703A.09)
Sec. 3A.09. General powers. In addition to any powers elsewhere provided
to the Suburban Bus Board, it shall have all of the powers specified in
Section 2.20 of this Act except for the powers specified in Section 2.20(a)(v). The Board shall also have the power:
(a) to cooperate with the Regional Transportation | | Authority in the exercise by the Regional Transportation Authority of all the powers granted it by such Act;
|
|
(b) to receive funds from the Regional Transportation
| | Authority pursuant to Sections 2.02, 4.01, 4.02, 4.09 and 4.10 of the Regional Transportation Authority Act, all as provided in the Regional Transportation Authority Act;
|
|
(c) to receive financial grants from the Regional
| | Transportation Authority or a Service Board, as defined in the Regional Transportation Authority Act, upon such terms and conditions as shall be set forth in a grant contract between either the Division and the Regional Transportation Authority or the Division and another Service Board, which contract or agreement may be for such number of years or duration as the parties agree, all as provided in the Regional Transportation Authority Act;
|
| (d) to perform all functions necessary for the
| | provision of paratransit services under Section 2.30 of this Act;
|
|
(e) to borrow money for the purposes of: (i)
| | constructing a new garage in the northwestern Cook County suburbs, (ii) converting the South Cook garage in Markham to a Compressed Natural Gas facility, (iii) constructing a new paratransit garage in DuPage County, (iv) expanding the North Shore garage in Evanston to accommodate additional indoor bus parking, and (v) purchasing new transit buses. For the purpose of evidencing the obligation of the Suburban Bus Board to repay any money borrowed as provided in this subsection, the Suburban Bus Board may issue revenue bonds from time to time pursuant to ordinance adopted by the Suburban Bus Board, subject to the approval of the Regional Transportation Authority of each such issuance by the affirmative vote of 12 of its then Directors; provided that the Suburban Bus Board may not issue bonds for the purpose of financing the acquisition, construction, or improvement of any facility other than those listed in this subsection (e). All such bonds shall be payable solely from the revenues or income or any other funds that the Suburban Bus Board may receive, provided that the Suburban Bus Board may not pledge as security for such bonds the moneys, if any, that the Suburban Bus Board receives from the Regional Transportation Authority pursuant to Section 4.03.3(f) of the Regional Transportation Authority Act. The bonds shall bear interest at a rate not to exceed the maximum rate authorized by the Bond Authorization Act and shall mature at such time or times not exceeding 25 years from their respective dates. Bonds issued pursuant to this paragraph must be issued with scheduled principal or mandatory redemption payments in equal amounts in each fiscal year over the term of the bonds, with the first principal or mandatory redemption payment scheduled within the fiscal year in which bonds are issued or within the next succeeding fiscal year. At least 25%, based on total principal amount, of all bonds authorized pursuant to this Section shall be sold pursuant to notice of sale and public bid. No more than 75%, based on total principal amount, of all bonds authorized pursuant to this Section shall be sold by negotiated sale. The maximum principal amount of the bonds that may be issued may not exceed $100,000,000. The bonds shall have all the qualities of negotiable instruments under the laws of this State. To secure the payment of any or all of such bonds and for the purpose of setting forth the covenants and undertakings of the Suburban Bus Board in connection with the issuance thereof and the issuance of any additional bonds payable from such revenue or income as well as the use and application of the revenue or income received by the Suburban Bus Board, the Suburban Bus Board may execute and deliver a trust agreement or agreements; provided that no lien upon any physical property of the Suburban Bus Board shall be created thereby. A remedy for any breach or default of the terms of any such trust agreement by the Suburban Bus Board may be by mandamus proceedings in any court of competent jurisdiction to compel performance and compliance therewith, but the trust agreement may prescribe by whom or on whose behalf such action may be instituted. Under no circumstances shall any bonds issued by the Suburban Bus Board or any other obligation of the Suburban Bus Board in connection with the issuance of such bonds be or become an indebtedness or obligation of the State of Illinois, the Regional Transportation Authority, or any other political subdivision of or municipality within the State, nor shall any such bonds or obligations be or become an indebtedness of the Suburban Bus Board within the purview of any constitutional limitation or provision, and it shall be plainly stated on the face of each bond that it does not constitute such an indebtedness or obligation but is payable solely from the revenues or income as aforesaid; and
|
| (f) to adopt ordinances and make all rules and
| | regulations proper or necessary to regulate the use, operation, and maintenance of its property and facilities and to carry into effect the powers granted to the Suburban Bus Board, with any necessary fines or penalties, such as the suspension of riding privileges or confiscation of fare media under Section 2.40, as the Board deems proper.
|
| (Source: P.A. 103-281, eff. 1-1-24 .)
|
70 ILCS 3615/3A.10
(70 ILCS 3615/3A.10) (from Ch. 111 2/3, par. 703A.10)
Sec. 3A.10. Budget and Program. The Suburban Bus Board, subject to
the powers of the Authority in Section 4.11, shall control the finances
of the Division. It shall by ordinance appropriate money to perform the
Division's purposes and provide for payment of debts and expenses of the
Division. Each year the Suburban Bus Board shall prepare and publish a comprehensive
annual budget and proposed five-year capital
program document, and a financial plan for the 2 years
thereafter describing the state of the Division and presenting for the forthcoming
fiscal year and the 2 following years the Suburban Bus Board's plans for
such operations and capital expenditures as it intends to undertake and
the means by which it intends to finance them. The proposed budget,
financial plan, and five-year capital program shall be based on the Authority's estimate of funds to be
made available to the Suburban Bus Board by or through the Authority and
shall conform in all respects to the requirements established by the Authority.
The proposed budget, financial plan, and five-year capital program shall contain a statement of the funds estimated
to be on hand at the beginning of the fiscal year, the funds estimated to
be received from all sources for such year and the funds estimated to be
on hand at the end of such year. The fiscal year of the
Division shall be the same as the fiscal year of the Authority. Before
the proposed budget,
financial plan, and five-year capital program
are submitted to the
Authority, the Suburban Bus Board shall hold at least one public hearing
thereon in each of the counties in the metropolitan region in which the
Division provides service. The Suburban Bus Board shall hold at least
one meeting for consideration of the proposed
budget, financial plan, and five-year capital program with the
county board of each of the several counties in the metropolitan region
in which the Division provides service. After conducting such hearings
and holding such meetings and after making such changes in the proposed
budget, financial plan, and five-year capital program as the Suburban Bus Board deems appropriate, it shall
adopt an annual budget ordinance at least by November 15 next preceding
the beginning of each fiscal year. The budget,
financial
plan, and five-year capital program shall then be submitted to the Authority as provided in Section 4.11. In the event
that the Board of the Authority determines that the budget
and financial plan do not meet the standards of Section 4.11, the Suburban
Bus Board shall make such changes as are necessary to meet such requirements
and adopt an amended budget ordinance. The amended budget ordinance shall
be resubmitted to the Authority pursuant to Section 4.11. The ordinance
shall appropriate such sums of money as are deemed necessary to defray
all necessary expenses and obligations of the Division, specifying purposes
and the objects or programs for which appropriations are made and the amount
appropriated for each object or program. Additional appropriations, transfers
between items and other changes in such ordinance which do not alter the
basis upon which the balanced budget determination was made by the Board
of the Authority may be made from time to
time by the Suburban Bus Board.
The budget shall:
(i) show a balance between (A) anticipated revenues | | from all sources including operating subsidies and (B) the costs of providing the services specified and of funding any operating deficits or encumbrances incurred in prior periods, including provision for payment when due of principal and interest on outstanding indebtedness;
|
|
(ii) show cash balances including the proceeds of any
| | anticipated cash flow borrowing sufficient to pay with reasonable promptness all costs and expenses as incurred;
|
|
(iii) provide for a level of fares or charges and
| | operating or administrative costs for the public transportation provided by or subject to the jurisdiction of the Suburban Bus Board sufficient to allow the Suburban Bus Board to meet its required system generated revenues recovery ratio and, beginning with the 2007 fiscal year, its system generated ADA paratransit services revenue recovery ratio;
|
|
(iv) be based upon and employ assumptions and
| | projections which are reasonable and prudent;
|
|
(v) have been prepared in accordance with sound
| | financial practices as determined by the Board of the Authority;
|
|
(vi) meet such other uniform financial, budgetary, or
| | fiscal requirements that the Board of the Authority may by rule or regulation establish; and
|
|
(vii) be consistent with the goals and objectives
| | adopted by the Regional Transportation Authority in the Strategic Plan.
|
| (Source: P.A. 94-370, eff. 7-29-05; 95-708, eff. 1-18-08.)
|
70 ILCS 3615/3A.11
(70 ILCS 3615/3A.11) (from Ch. 111 2/3, par. 703A.11)
Sec. 3A.11. Citizens Advisory Board. The Suburban Bus Board shall establish
a citizens advisory board composed of 10 residents of those portions of
the metropolitan region in which the Suburban Bus Board provides service
who have an interest in public transportation. The members of the advisory
board shall be named for 2 year terms, shall select one of their members
to serve as chairman and shall serve without compensation. The citizens
advisory board shall meet with the Suburban Bus Board at least quarterly
and advise the Suburban Bus Board of the impact of its policies and programs
on the communities it serves. Appointments to the citizens advisory board should, to the greatest extent possible, reflect the ethnic, cultural, and geographic diversity of all persons residing within the Suburban Bus Board's jurisdiction.
(Source: P.A. 95-708, eff. 1-18-08.)
|
70 ILCS 3615/3A.12
(70 ILCS 3615/3A.12) (from Ch. 111 2/3, par. 703A.12)
Sec. 3A.12. Working Cash Borrowing. The Suburban Bus Board with the
affirmative vote of 9 of its Directors may demand and direct the Board of
the Authority to issue Working Cash Notes at such time and in such amounts
and having such maturities as the Suburban Bus Board deems proper, provided
however any such borrowing shall have been specifically identified in the
budget of the Suburban Bus Board as approved by the Board of the Authority.
Provided further, that the Suburban Bus Board may not demand and direct
the Board of the Authority to have issued and have outstanding at any time
in excess of $5,000,000 in Working
Cash Notes.
(Source: P.A. 95-906, eff. 8-26-08.)
|
|
|
|