Neither the treasurer nor any other officer of the city of Chicago having public funds in his possession or custody shall be entitled to the interest accruing thereon or any part thereof, but such interest shall inure to the benefit of such city and be paid into its treasury.
65 ILCS 20/21-8
Interest on public funds
Known as the Revised Cities and Villages Act
The act spans §§ 65-20-0-01 to 65-20-21-9 (53 sections).
Laws 1941, vol. 2, p. 19.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.