Illinois § 12

§ 12.

Allocation of proceeds from sale of Bonds. (a) Proceeds from the sale of Bonds, authorized by Section 3 of this Act, shall be deposited in the separate fund known as the Capital Development Fund, a special fund that was created under Section 6 of the Capital Development Bond Act of 1972 (repealed) and is continued under this amendatory Act of the 103rd General Assembly, which may be expended as provided by law. (b) Proceeds from the sale of Bonds, authorized by paragraph (a) of Section 4 of this Act, shall be deposited in the separate fund known as the Transportation Bond, Series A Fund, a special fund that was created under Section 4 of the Transportation Bond Act (repealed) and is continued under this amendatory Act of the 103rd General Assembly, which may be expended as provided by law. (c) Proceeds from the sale of Bonds, authorized by paragraphs (b) and (c) of Section 4 of this Act, shall be deposited in the separate fund known as the Transportation Bond, Series B Fund, a special fund that was created under Section 4 of the Transportation Bond Act (repealed) and is continued under this amendatory Act of the 103rd General Assembly, which may be expended as provided by law. (c-1) Proceeds from the sale of Bonds, authorized by paragraph (d) of Section 4 of this Act, shall be deposited into the Transportation Bond Series D Fund, which is hereby created. (c-2) Proceeds from the sale of Bonds, authorized by paragraph (e) of Section 4 of this Act, shall be deposited into the Multi-modal Transportation Bond Fund, which is hereby created. (d) Proceeds from the sale of Bonds, authorized by Section 5 of this Act, shall be deposited in the separate fund known as the School Construction Fund. (e) Proceeds from the sale of Bonds, authorized by Section 6 of this Act, shall be deposited in the separate fund known as the Anti-Pollution Fund, a special fund that was created under Section 3 of the Anti-Pollution Bond Act (repealed) and is continued under this amendatory Act of the 103rd General Assembly, which may be expended as provided by law. (f) Proceeds from the sale of Bonds, authorized by Section 7 of this Act, shall be deposited in the separate fund known as the Coal Development Fund, a special fund that was created under Section 10 of the Illinois Coal and Energy Development Bond Act (repealed) and is continued under this amendatory Act of the 103rd General Assembly, which may be expended as provided by law. (f-2) Proceeds from the sale of Bonds, authorized by Section 7.2 of this Act, shall be deposited as set forth in Section 7.2. (f-5) Proceeds from the sale of Bonds, authorized by Section 7.5 of this Act, shall be deposited as set forth in Section 7.5. (f-7) Proceeds from the sale of Bonds, authorized by Section 7.6 of this Act, shall be deposited as set forth in Section 7.6. (f-8) Proceeds from the sale of Bonds, authorized by Section 7.7 of this Act, shall be deposited as set forth in Section 7.7. (g) Proceeds from the sale of Bonds, authorized by Section 8 of this Act, shall be deposited in the Capital Development Fund. (h) Subsequent to the issuance of any Bonds for the purposes described in Sections 2 through 8 of this Act, the Governor and the Director of the Governor's Office of Management and Budget may provide for the reallocation of unspent proceeds of such Bonds to any other purposes authorized under said Sections of this Act, subject to the limitations on aggregate principal amounts contained therein. Upon any such reallocation, such unspent proceeds shall be transferred to the appropriate funds as determined by reference to paragraphs (a) through (g) of this Section. (Source: P.A. 103-616, eff. 7-1-24.)