Bond proceeds may be used to provide such reserve fund.
65 ILCS 5/8-4.1-5
The corporate authorities may provide for a reserve fund solely for the payment of the principal of and interest on Bonds
Known as the Municipal Bond Reform Act
The act spans §§ 65-5-8-4-1-1 to 65-5-8-4-1-9 (12 sections).
P.A. 85-158.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.