Bill Title: Amends the Park District Code. Provides that the board of a park district may borrow money for any corporate purpose from a bank or other financial institution, provided that the money shall be repaid within 2 years from the general funds of the park district and such other sources of payment as are otherwise lawfully available. Prohibits the indebtedness incurred, when aggregated with the existing indebtedness of the park district, from exceeding the debt limitation otherwise provided for by law. Defines "financial institution". Effective immediately.

Sponsorship: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2014-08-15 - Public Act . . . . . . . . . 98-0906 [HB4597 Detail]

Text: Latest bill text (Chaptered) [HTML]

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