Ill. Admin. Code tit. 74, § 755.500 – Bank Proposals | Midpage
§ 755.500
Ill. Admin. Code tit. 74, § 755.500
Bank Proposals
AUTHORITY: Implementing and authorized by Section 25 of the Hospital Basic Services Preservation Act [20 ILCS 4050/25].TREASURER
a) Before disbursing moneys from the Fund, the Treasurer shall contact at least 5 approved financial institutions.
b) Potential lenders shall provide the Treasurer with an estimated collateralization ratio and a potential range of interest rates applicable to the proposed loan.