PARK DISTRICT-BORROWING MONEY House SponsorsRep. Robert F. Martwick-John M. Cabello Senate Sponsors(Sen. Jennifer Bertino-Tarrant) 8/15/2014HousePublic Act . . . . . . . . . 98-0906 70 ILCS 1205/6-4from Ch. 105, par. 6-470 ILCS 1205/6-7 new Amends the Park District Code. Provides that the board of a park district may borrow money for any corporate purpose from a bank or other financial institution, provided that the money shall be repaid within 2 years from the general funds of the park district and such other sources of payment as are otherwise lawfully available. Prohibits the indebtedness incurred, when aggregated with the existing indebtedness of the park district, from exceeding the debt limitation otherwise provided for by law. Defines "financial institution". Effective immediately. 2/4/2014HouseFiled with the Clerk by Rep. Robert F. Martwick 2/4/2014HouseFirst Reading 2/4/2014HouseReferred to Rules Committee 3/3/2014HouseAssigned to Counties & Townships Committee 3/20/2014HouseAdded Chief Co-Sponsor Rep. John M. Cabello 3/21/2014HouseDo Pass / Short Debate Counties & Townships Committee; 005-000-000 3/21/2014HousePlaced on Calendar 2nd Reading - Short Debate 3/24/2014HouseSecond Reading - Short Debate 3/24/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/1/2014HouseThird Reading - Short Debate - Passed 082-030-001 4/2/2014SenateArrive in Senate 4/2/2014SenatePlaced on Calendar Order of First Reading April 3, 2014 4/4/2014SenateChief Senate Sponsor Sen. Jennifer Bertino-Tarrant 4/7/2014SenateFirst Reading 4/7/2014SenateReferred to Assignments 4/23/2014SenateAssigned to Local Government 4/30/2014SenateDo Pass Local Government; 009-002-000 4/30/2014SenatePlaced on Calendar Order of 2nd Reading May 1, 2014 5/7/2014SenateSecond Reading 5/7/2014SenatePlaced on Calendar Order of 3rd Reading May 8, 2014 5/21/2014SenateThird Reading - Passed; 050-007-000 5/21/2014HousePassed Both Houses 6/19/2014HouseSent to the Governor 8/15/2014HouseGovernor Approved 8/15/2014HouseEffective Date August 15, 2014 8/15/2014HousePublic Act . . . . . . . . . 98-0906