Illinois Compiled Statutes 30 ILCS 350 Local Government Debt Reform Act. Section 7

    (30 ILCS 350/7) (from Ch. 17, par. 6907)

    Sec. 7. Reserves. A governing body may provide for a reserve fund solely for the payment of the principal of and interest on bonds. Bond proceeds may be used to provide such reserve fund.

(Source: P.A. 85-1419.)

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Last modified: February 18, 2015