Sec. 4.1. Abolishment of working cash fund.
109 words·~1 min read·
/il/chapter-70/act-1510/4-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 4.1. Abolishment of working cash fund.
(a)The commissioners of the Chicago Park District may abolish its working cash fund by resolution and may transfer any balance remaining in the fund, including any interest that may have accrued, to the general corporate fund of the Chicago Park District at the end of the then current fiscal year. Any outstanding loans to other District funds shall be paid or become payable to the general corporate fund of the Chicago Park District at the close of the then current fiscal year.
(b)Any obligation incurred by the Chicago Park District pursuant to Section 2 shall be discharged as therein provided.