(105 ILCS 5/3-9.1) (from Ch. 122, par. 3-9.1)
Sec. 3-9.1.
Investment of funds.
Funds of the educational service
region are public funds within the meaning of the Public Funds Investment
Act and may be invested by the educational service region as provided in
that Act, except as otherwise provided in this Code.
Any educational service region, with the approval of its regional
superintendent of schools, is authorized to enter into agreements of any
definite or indefinite term regarding the deposit, redeposit, investment,
reinvestment or withdrawal of educational service region funds, including,
without limitation, agreements with other educational service regions,
agreements with community college districts authorized by Section 3-47
of the Public Community College Act and agreements with township and school
treasurers authorized by Section 8-7 of this Code.
Each educational service region is permitted to (i) combine moneys of the
educational service region for the purpose of investing the moneys and
(ii) join with other educational service regions, community
college districts, and township and school treasurers in investing
educational service region funds, community college funds and school funds.
Those joint investments shall be made only in investments authorized by law
for the investment of educational service region funds or, in the case of
investments made jointly with community colleges and school and township
treasurers, in investments authorized by law for the investment of
educational service region funds, community college funds and school funds.
When moneys of more than one fund of a single educational service region
are combined for investment purposes or when moneys of an educational
service region are combined with moneys of other educational service
regions or moneys of community college districts and school districts, the
moneys combined for that purpose shall be accounted for separately in all
respects, and the earnings from that investment shall be separately and
individually computed and recorded, and credited to the fund or educational
service region, community college district or school district, as the case
may be, for which the investment was acquired.
(Source: P.A. 87-968; 88-641, eff. 9-9-94.)
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