Comments: IL SB3183 | 2011-2012 | 97th General Assembly

Bill Title: Amends the Counties Code. Provides that the county board of a county may borrow money for county purposes from one fund for the use of another fund, as long as it is repaid within the current fiscal year. Provides that the county board of a county may borrow money from any bank or financial institution, provided that the money shall be repaid within 10 years from the time the money is borrowed. Sets forth requirements concerning the documentation of the loan. Prohibits the indebtedness incurred, when aggregated with the existing indebtedness of the county, from exceeding the debt limitation otherwise provided for by law. Defines "financial institution". Effective immediately.

Spectrum: Bipartisan Bill

Status: (Failed) 2013-01-08 - Session Sine Die [SB3183 Detail]

Text: Latest bill text (Amended) [HTML]

PolitiCorps Conversations

Start PolitiCorps Debate
TitlePolitiCorpsAccessCommentsViewsLast Post
There are no visible public or private PolitiCorps discussions concerning the 2011 Illinois SB3183 at this time.

Social Comments on IL SB3183

feedback