Illinois Compiled Statutes 20 ILCS 3501/845-25 – The Authority shall not incur any obligations for salaries, office or …
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Terms Used In Illinois Compiled Statutes 20 ILCS 3501/845-25
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
The Authority shall not incur any obligations for salaries, office or other administrative expenses prior to the making of appropriations to meet such expenses. Interest earned from investments of any funds of the Authority and repayments of principal of such investments shall be available for appropriation by the Board for the corporate purposes of the Authority.