55 ILCS 5/6-28005
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-28005)Sec. 6-28005.     Transfer to county highway fund.     Moneys shall be transferred from the county highway working  cash fund to the county highway fund only upon the authority of the  county board, which shall from time to time by separate resolution  direct the county treasurer to make transfers of such sums as may be  required for the purposes herein authorized. Every such resolution shall  set forth (a) the taxes or other moneys in anticipation of the  collection or receipt of which such transfer is to be made and from  which such county highway working cash fund is to be reimbursed, (b) the  entire amount of taxes extended or which the county board estimates will  be extended or received for any year, (c) the aggregate amount of tax  anticipation warrants theretofore issued in anticipation of the  collection of such taxes, together with the amount of interest accrued,  or which the county board estimates will accrue, thereon, or both, (d)  the aggregate amount of notes theretofore issued in anticipation of the  collection of such taxes together with the amount of the interest  accrued, or which the county board estimates will accrue, thereon, or  both, (f) the aggregate amount of receipts from taxes imposed to replace  revenue lost by units of local government and school districts as a result  of the abolition of ad valorem personal property taxes, pursuant to Article  IX, Section 5(c) of the Constitution of the State of Illinois, which the  corporate authorities estimate will be set aside for the payment of the  proportionate amount of debt service and pension or retirement obligations,  as required by Section 12 of "An Act in relation to State Revenue Sharing  with local government entities", approved July 31, 1969, as amended, and  (g) the aggregate amount of moneys theretofore transferred from the county  highway working cash fund to the county highway fund in anticipation of the  collection of such taxes. The amount which any such resolution shall direct  the county treasurer so to transfer, in anticipation of the collection of  taxes levied for any year, together with the aggregate amount of such  anticipation tax warrants and notes theretofore drawn against such taxes,  the amount estimated to be required to satisfy debt service and pension  or retirement obligations, as set forth in Section 12 of "An Act in relation  to State revenue sharing with local government entities", approved July  31, 1969, as amended, and the aggregate amount of such  transfers theretofore made in anticipation of the collection of such  taxes, shall not exceed ninety (90) per centum of the actual or  estimated amount of such taxes extended or to be extended or to be  received, as set forth in such resolution. The amount which any such  resolution shall direct the county treasurer so to transfer in  anticipation of the receipt of any such moneys, shall not exceed the  total amount which it is so estimated will be received from such source.  To the extent that at any time moneys are available in the county  highway working cash fund they shall be transferred to the county  highway fund and disbursed for the payment of salaries and other county  highway expenses so as to avoid, whenever possible, the issuance of  anticipation tax warrants or notes.    (Source: P.A. 86-962.)