SiteTitle | • | Office of the Illinois State Treasurer Request for Proposals Financial Services February 19, 2004 | [X] |
Organization | • | Office of the Illinois Treasurer | [X] |
| | 1: | | Title: | | | | | Volume/Number: | | | | | Issuing Agency: | | | | | Description: | The Treasurer issues this Request for Proposals for Financial Services. State law authorizes the State Treasurer to accept a proposal from an eligible financial institution which provides for a reduced rate of interest provided that such institution agrees to expend an amount equal to the amount of the reduction for the preservation of Cahokia Mounds. 15 ILCS 520/7. The Illinois State Treasurer desires to provide financial support to help preserve the Cahokia Mounds State Historic Site by establishing The Cahokia Mounds Preservation Fund(Fund). The Fund will be created from the money expended by Financial Institutions in the amount equal to the reduction in the rate of interest generated from State deposits. We anticipate crediting interest income of $200,000.00 to the Fund within the first six (6) months and continue to build the amount deposited on an ongoing basis. The Treasurer seeks a financial institution, with a bank presence near Cahokia Mounds, as a partner in this endeavor to assist in the management of the Fund. | | | | Date Created: | 02 19 2004 | | | | Agency ID: | | | | | ISL ID: | 000000003325 Original UID: 3159 FIRST WORD: Office | |
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