Building Authority Bond Investment Act (20 ILCS 3115/)

Chapter 20 — Executive Branch

Capital Development Board

This text is maintained by the Legislative Reference Bureau for legislative drafting purposes and is NOT the official text of the Illinois Compiled Statutes; the only official copy is the printed copy maintained by the Secretary of State.

Sec. 1.

Counties, cities, villages, incorporated towns, and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, insurance companies and associations, and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, moneys, or other funds belonging to them or within their control in any bonds issued pursuant to "An Act to create the Illinois Building Authority and to define its powers and duties," approved August 15, 1961.

(Source: Laws 1963, p. 2067.)

Sec. 2.

Nothing in this Act shall be construed as relieving any officer, person, firm or corporation from any duty of using reasonable care in selecting investments.

(Source: Laws 1963, p. 2067.)

Sec. 3. Short title

This Act may be cited as the Building Authority Bond Investment Act.

(Source: P.A. 86-1324.)