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: Partisan Bill (Republican 3-0)

Status: (Passed) 2013-08-23 - Public Act . . . . . . . . . 98-0525 [SB1430 Detail]

Text: Latest bill text (Chaptered) [HTML]

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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
Senate	Concurrence in Senate	2013-05-28	55	2	2	0	59	Passed	Link	View
House	Third Reading in House	2013-05-15	88	23	4	0	115	Passed	Link	View
Senate	Third Reading in Senate	2013-04-11	50	1	8	0	59	Passed	Link	View

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