Revolving fund

(a) A property assessed energy improvement district may maintain a revolving fund to be held in trust by a banking institution chosen by the board of directors of the district separate from any other funds and administered by the board. (b) A district may transfer into its revolving fund money from any permissible source, including: (1) Bond revenues; (2) Contributions; and (3) Loans. Amended by Act 2015, No. 1162,§ 9, eff. 7/22/2015. Added by Act 2013, No. 1074,§ 1, eff. 8/16/2013. (a) A property assessed energy improvement district may maintain a revolving fund to be held in trust by a banking institution chosen by the board of directors of the district separate from any other funds and administered by the board. (b) A district may transfer into its revolving fund money from any permissible source, including: (1) Bond revenues; (2) Contributions; and (3) Loans. (1) Bond revenues; (2) Contributions; and (3) Loans. Amended by Act 2015, No. 1162,§ 9, eff. 7/22/2015. Added by Act 2013, No. 1074,§ 1, eff. 8/16/2013.