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]

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Bill Drafts

Revision	Date	Format	Source	View
Amended	2012-12-03	HTML/Text	Link	View
Amended	2012-11-21	HTML/Text	Link	View
Engrossed	2012-03-28	HTML/Text	Link	View
Amended	2012-03-26	HTML/Text	Link	View
Amended	2012-03-01	HTML/Text	Link	View
Amended	2012-03-01	HTML/Text	Link	View
Introduced	2012-02-01	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB3183

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3183 currently on file.

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