(60 ILCS 1/150-30)

Sec. 150-30.

Use of bond sale proceeds.

The proceeds
of the sale of bonds shall be expended by the board of managers for the purpose
of purchasing, erecting, or equipping a community building or buildings or
acquiring a site for a community building or buildings. The board of managers
may exercise any other powers necessarily incidental in order to carry out the
provisions of this Article. The supervisor of the township shall be treasurer
of the funds provided for in this Article and shall pay out those funds only on
the written order of a majority of the
board of managers.

(Source: Laws 1929, p. 771; P.A. 88-62.)