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Code · Illinois · Chapter 60 — TOWNSHIPS · Act 1

Sec. 150-30. Use of bond sale proceeds.

101 words·~1 min read·/il/chapter-60/act-1/150-30

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Sec. 150-30. Use of bond sale proceeds. The proceeds of the sale of bonds shall be expended by the board of managers for the purpose of purchasing, erecting, or equipping a community building or buildings or acquiring a site for a community building or buildings. The board of managers may exercise any other powers necessarily incidental in order to carry out the provisions of this Article. The supervisor of the township shall be treasurer of the funds provided for in this Article and shall pay out those funds only on the written order of a majority of the board of managers.
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