Illinois Compiled Statutes
60 ILCS 1/ - Township Code.
Article 285 - Township Bond Money Refunds

(60 ILCS 1/Art. 285 heading)

 
(60 ILCS 1/285-5)
Sec. 285-5. Payment of bond fund balance to township.
(a)
Whenever
all the bonds
of any township have been fully paid and canceled and there remains in the
hands of the county collector of taxes or county treasurer, after the payment,
any balance to the credit of the bond fund of the township, the county
collector of taxes or county treasurer shall pay to the supervisor of the
township the balance of the fund in his hands, taking a receipt of the
supervisor for the payment, and the balance may be appropriated and expended in accordance with subsection (a) of Section 285-10.
(b) Beginning on the effective date of this amendatory Act of the 93rd General Assembly and through December 31, 2004, whenever all the bonds of any township have been fully paid and canceled and there remains any balance to the credit of the bond fund of the township, including any amounts that were in the bond fund prior to the payment in full and cancellation of the bonds, in the hands of the township supervisor (other than amounts paid to the supervisor under subsection (a)), the balance may be appropriated and expended in accordance with subsection (b) of Section 285-10.


(Source: P.A. 93-1025, eff. 8-25-04.)
 
(60 ILCS 1/285-10)
Sec. 285-10. Use of moneys.
(a) Moneys paid to the township supervisor
under
subsection (a) of Section 285-5, may be appropriated and expended for defraying the general
charges and expenses of the township; for laying out, making, and repairing the
roads and bridges of the township and purchasing materials, implements, and
machinery for those undertakings; for the maintenance and operation of open spaces; and for the payment of any outstanding
orders, all in the manner and proportions the legal voters of the township
determine at their annual township meeting or special township meeting duly
called for that purpose.
(b) Moneys in the hands of the township supervisor under subsection (b) of Section 285-5 may be appropriated and expended only for purposes relating to the purposes for which the bonds were issued.


(Source: P.A. 93-1025, eff. 8-25-04.)
 
(60 ILCS 1/285-15)
Sec. 285-15.
Payment to highway commissioner.
Whenever a township board that obtains or receives
surplus moneys under Section 285-5 determines by
resolution that a particular amount or portion of the surplus
moneys be paid to the highway commissioner of the township
for road and bridge purposes as provided in Section 285-10, the
township supervisor shall pay that amount to the highway commissioner of
the township and take the highway commissioner's receipt for the payment.

(Source: P.A. 82-783; 88-62.)

Structure Illinois Compiled Statutes