Sec. 40. Disposition of federal funds.

162 words·~1 min read·/il/chapter-620/act-5/40

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 40. Disposition of federal funds. All monies accepted for disbursement by the Department pursuant to Section 38 shall be deposited into the Federal/State/Local Airport Fund, which is established as a federal trust fund in the State treasury to be held by the State Treasurer as ex officio custodian. Moneys in the Federal/State/Local Airport Fund shall be disbursed upon a voucher or order of Secretary of Transportation and paid by a warrant drawn by the State Comptroller and countersigned by the State Treasurer.

All such monies are to be expended in accordance with Federal laws and rules and regulations thereunder and with this Act. The Department is authorized, whether acting for this State or as the agent of any of its municipalities or other political subdivision, or when requested by the United States Government or any agency or department thereof, subject to Section 41, disburse such monies for the designated purposes, but this shall not preclude any other authorized method of disbursement.