Illinois Compiled Statutes
60 ILCS 1/ - Township Code.
Article 265 - Township Funds For Schools

(60 ILCS 1/Art. 265 heading)

 
(60 ILCS 1/265-5)
Sec. 265-5.
Distribution to school districts.
(a) Whenever the electors attending an annual or special township meeting
of a township in a county with a population of more than 1,000,000 (counties of
the third class) determine that the general township fund of the township is in
excess of the amount needed for township purposes during the remainder of the
then current fiscal year, the electors may, by resolution adopted by the
affirmative vote of two-thirds of the electors attending the meeting, direct
that all or any portion of the excess funds be distributed ratably to the
various school districts maintaining grades 1 through 8 that are wholly or
partly located in the township. In any distribution to school districts, the
share of each school district wholly or partly located within the township
shall be the proportion that the assessed valuation of all property within
the school district or part of the school district in the township bears to the
total assessed valuation of all property in the township.
(b) For purposes of distribution ratably to school districts under this
Section, the township supervisor shall determine the ratable distribution on
the basis of the most recent assessment figures as supplied to him or her by
the county assessor.

(Source: Laws 1959, p. 684; P.A. 88-62.)
 
(60 ILCS 1/265-10)
Sec. 265-10.
Limitation on action.
No action shall be taken under Section
265-5 at any annual or special township meeting unless the notice of the
meeting, published at least 10 days before the meeting, included notification
that the matter of distribution of excess funds to the school districts would
be raised at the meeting. The electors of a township shall not take any action
under Section 265-5 unless, for a period of 3 calendar years before the time
the action is proposed to be taken, no taxes other than a tax for road purposes
were levied in the township for township purposes.

(Source: Laws 1963, p. 762; P.A. 88-62.)
 
(60 ILCS 1/265-15)
Sec. 265-15.
Notice of meeting.
The township clerk or other township officer
charged with posting notices of the annual or special township meeting shall
include in the published notice of the annual or special township meeting
a statement that the matter of the distribution of excess funds to the school
districts will be considered at the meeting if, at least 20 days before the
meeting, there is filed with the township officer a written statement, signed
by at least 15 voters of the township, requesting that the notice of the
meeting so state that the matter of the distribution of excess funds to
the school districts will be considered at the meeting.

(Source: Laws 1959, p. 684; P.A. 88-62.)

Structure Illinois Compiled Statutes