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Code · Illinois · Chapter 50 — LOCAL GOVERNMENT · Act 515

Sec. 40. Available funds.

73 words·~1 min read·/il/chapter-50/act-515/40

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Sec. 40. Available funds. A unit of local government may use funds designated for operating or capital expenditures for any guaranteed energy savings contract, including purchases using installment payment contracts or lease purchase agreements. A unit of local government that enters into such a contract or agreement may covenant in the contract or agreement that payments made under the contract shall be payable from the first funds legally available in each fiscal year.
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