State of Illinois
90th General Assembly

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      70 ILCS 2605/5.9          from Ch. 42, par. 324s
          Amends the Metropolitan Water Reclamation  District  Act.
      Permits  the transfer of the district's interest income among
      its most needy funds upon a two-thirds vote of the  board  of
      trustees.  Excludes certain types of interest.
 1        AN  ACT  to  amend  the  Metropolitan  Water  Reclamation
 2    District Act by changing Section 5.9.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section 5.  The Metropolitan Water  Reclamation  District
 6    Act is amended by changing Section 5.9 as follows:
 7        (70 ILCS 2605/5.9) (from Ch. 42, par. 324s)
 8        Sec.  5.9. The board of trustees shall, at any time after
 9    March 1 of each fiscal year, have power, by a two-thirds vote
10    of all the members of such body, to authorize the  making  of
11    transfers  within a department or between departments of sums
12    of money appropriated for one corporate object or function to
13    another corporate object or function. Any such action by  the
14    board  of trustees shall be entered in the proceedings of the
15    board. No appropriation for any object or function  shall  be
16    reduced  below an amount sufficient to cover all unliquidated
17    and outstanding contracts or obligations  certified  from  or
18    against the appropriation for such purpose.
19        The  board  of  trustees, by a two-thirds vote of all its
20    members, may transfer the interest earned on  any  moneys  of
21    the  district into the district's fund or funds that are most
22    in need of the interest  income.   This  authority  does  not
23    apply  to  any interest that has been earmarked or restricted
24    by the board for a designated purpose.  This  authority  does
25    not apply to any interest earned on any funds for purposes of
26    the  Metropolitan  Water Reclamation District Retirement Fund
27    or Reserve Claim Fund.
28    (Source: P.A. 90-221, eff. 1-1-98; 90-511, eff. 8-22-97.)

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