IL SB1805

Amends Section 5.9 of the Metropolitan Water Reclamation District Act to allow the board of trustees to transfer interest earned on district moneys and revenue from lawfully available sources into funds most in need of such funds or into the Metropolitan Water Reclamation District Retirement Fund.

Requires a two-thirds vote of all board members to authorize transfers of interest income or revenue, in addition to contributions already required under Section 13-503 of the Illinois Pension Code.

Excludes from transfer authority any interest that has been earmarked or restricted by the board for a designated purpose, as well as interest earned on funds designated for the Retirement Fund or Reserve Claim Fund.

Authorizes the board of trustees by two-thirds vote to transfer fund balances between the district's Working Cash Funds.