reglab/housing_qa huggingface dataset:
105 ILCS 5/34A-402
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-402)Sec. 34A-402.     Balanced budget.     The Board's budget for its fiscal year  ending in 1982 and for each subsequent fiscal year shall be balanced in  accordance with an accounting system and procedure to be prescribed by the  Authority, with substantial progress toward balancing the budget to be  achieved in each of the preceding fiscal years; provided, however, that (1)  for the fiscal year of the Board ending in  1992, the aggregate amount of  the reserved fund balances required to be maintained by the Board  under its  budget for that fiscal year as last balanced by the Board and approved by  the Authority prior to the effective date of this amendatory Act of 1992 in  accordance with the accounting system and procedure prescribed by the  Authority is hereby reduced by $13,266,200, (2) the $13,266,200 released  from reserved fund balance requirements in fiscal year 1992 by this  amendatory Act of 1992 shall be available to the Board for appropriation by  it for any lawful school purpose during its fiscal year ending in 1992, and  (3) the Authority shall not require the $13,266,200 released from reserved  fund balance requirements in fiscal year 1992 by this amendatory Act of  1992 to be restored by the Board under any regular, supplemental or amended  budget adopted for any fiscal year ending in 1992 or thereafter.For the fiscal year of the Board ending in 1994, the aggregate amount of  the reserved fund balances required to be maintained by the Board under its  budget for that fiscal year in accordance with the accounting system and  procedure prescribed by the Authority as of the effective date of this  amendatory Act of 1993 is hereby reduced by $22,000,000.  The $22,000,000  released from reserved fund balance requirements in fiscal year 1994 by this  amendatory Act of 1993 shall be available to the Board for appropriation by it  for any lawful school purpose during its fiscal year ending in 1994.  The  Authority shall not require the $22,000,000 released from reserved fund balance  requirements in fiscal year 1994 by this amendatory Act of 1993 to be restored  by the Board under any regular, supplemental or amended budget adopted for any  fiscal year ending in 1994 or thereafter.  This reduction in the required  reserved fund balance is in addition to the reduction made by Public Act  87-838.For the fiscal year of the Board ending in 1994, the aggregate amount of  the reserved fund balances required to be maintained by the Board under its  budget for that fiscal year in accordance with the accounting system and  procedure prescribed by the Authority as of the effective date of this  amendatory Act of 1993 is hereby reduced to $100,000,000. The reserved fund  balances required to be maintained in each subsequent fiscal year shall not  exceed $100,000,000.    (Source: P.A. 87-838; 88-89; 88-511.)
105 ILCS 5/34A-403.1
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

Sec. 34A-403.1.     Fiscal year 1994 contracts.     Notwithstanding any provision  of this Article to the contrary, the failure of a Board to have a Financial  Plan approved by the School Finance Authority within 90 days after the  effective date of this amendatory Act of 1993 shall not impair the Board's  power to enter into any contract or other obligation or the Authority's powers  and responsibilities under Sections 34A-404, 34A-405, and  34A-405.2 or in any other way affect the operations of the Board.    (Source: P.A. 92-651, eff. 7-11-02.)
105 ILCS 5/34A-405.1
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

Sec. 34A-405.1.     Interim operations.     Notwithstanding any other provision  of law to the contrary, for the period September 1 through September 12, 1993,  the following provisions apply:(1) The Board of Education shall not be subject to     the provisions of Section 34A-406.(2) Neither the Board, the general superintendent,     nor any other officer or employee of the Board, nor any local school council, may hire any person as an employee or officer of the Board in any position.(3) The Board of Education shall not be subject to     the provisions of Section 14 of the Illinois Educational Labor Relations Act for any actions taken under item (2) of this Section.(4) The Board shall adopt an interim appropriation     authorizing the expenditure of funds consistent with the provisions of this Section.   (Source: P.A. 88-473.)
105 ILCS 5/34A-406
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-406)Sec. 34A-406.     Expenditures.     The Board shall meet its debt service obligations as they become due.  No  other expenditure shall be made by the Board unless it is consistent with  the Financial Plan and Budget or a provisional budget provided for in Section  34A-404(c)(2), in each case as in effect.    (Source: P.A. 88-511.)
105 ILCS 5/34A-406.1
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-406.1)Sec. 34A-406.1.         During the 1984-85 school year only, the number of education  fund positions for both teacher-certificated and career service personnel  employed by the Chicago Board of Education shall not exceed the previous  year's budgeted positions, as certified by the Chicago School Finance Authority.    (Source: P.A. 83-1131.)
105 ILCS 5/34A-406.2
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

Sec. 34A-406.2.         Interim Operations for Fiscal Year 1994 Pending Budget  Adoption and Approval.  Notwithstanding any other provision of law to the  contrary, for the fiscal year of the Board ending in 1994 only, during the  period of 30 days after the effective date of this amendatory Act of 1993, the  Board of Education is not subject to Sec. 34A-406 and shall adopt an interim  appropriation authorizing the expenditure of funds consistent with the  provisions of this Section and of this amendatory Act of 1993. If the Board  fails to timely meet and satisfy items (1) through (3) of this Section, no  funds may be spent or disbursed and no obligations, commitments, or liabilities  incurred for any part of the 30-day period after the failure occurs.(1) Notwithstanding any provision of Section 34-46 to     the contrary, within 10 days after the effective date of this amendatory Act of 1993, the Board shall prepare in tentative form a Budget for the fiscal year ending in 1994 and shall make at least 5 copies available for public inspection in the office of the Secretary of the Board and file 5 copies with the Authority.(2) Notwithstanding any provision of Section 34-46 to     the contrary, not less than 2 days before its final action on the Budget, the Board shall have a public hearing on the filed tentative Fiscal Year 1994 Budget.  Public notice of the hearing shall be given once at least 2 days before the hearing by publication in a newspaper having general circulation in the City.(3) Notwithstanding any provision of Section 34-43,     34-46, or 34A-404 to the contrary, within 15 days after the effective date of this amendatory Act of 1993, the Board shall adopt and submit to the Authority for approval or rejection the Budget for the fiscal year of the Board ending in 1994.  The Authority shall approve or reject that Budget in accordance with Section 34A-404 within 15 days of its receipt from the Board but not more than 30 days after the effective date of this amendatory Act of 1993.  This item (3) does not apply to any revision, amendment, or supplement to the Budget for the fiscal year of the Board ending in 1994 if the revision, amendment, or supplement is adopted by the Board more than 30 days after, or is received by the Authority more than 20 days after, the effective date of this amendatory Act of 1993.   (Source: P.A. 88-511.)
105 ILCS 5/34A-407
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-407)Sec. 34A-407.     Approval of chief financial officer.     The Board shall appoint a chief financial officer subject to the approval  of the Authority.  Either the Authority or the Board shall have the power  to remove the chief financial officer.  The chief financial officer shall  have the responsibility for preparing and supervising the Budget and Financial  Plan of the Board and overseeing expenditures of the Board.  The chief financial  officer shall report to the Board.  The chief financial officer may  be granted the authority by the Board to hire a specific number of employees  to assist in meeting immediate responsibilities.  Conditions of employment  for such personnel shall not be subject to the provisions of Section 34-85.    (Source: P.A. 82-485.)
105 ILCS 5/34A-409
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-409)Sec. 34A-409.     Cash accounts and bank accounts.     (a) The Authority shall require the Board or any officer of the Board, including  the Board's treasurer or any person acting as the Board's official or ex  officio treasurer, to establish and maintain separate cash accounts and  separate bank accounts in accordance with such rules, standards and procedures  as the Authority may prescribe.(b) The Authority shall have the power to assume exclusive administration  of the cash accounts and bank accounts of the Board, to establish and maintain  whatever new cash accounts and bank accounts it may deem appropriate, and  to withdraw funds from such accounts for the lawful expenditures of the Board.    (Source: P.A. 81-1221.)
105 ILCS 5/34A-410
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-410)Sec. 34A-410.     Financial, management and budgetary structure.     Upon direction of the Authority, the Board shall reorganize the financial  accounts, management and Budgetary systems of the Board in whatever manner  the Authority deems appropriate to achieve greater financial responsibility  and to reduce financial inefficiency.  Except as provided in Sections 34A-501 through 34A-512 of this Act, the  Authority shall not have the power to affect the taxing authority or to  consolidate or reduce the  restricted debt service funds of the Board.    (Source: P.A. 81-1221.)
105 ILCS 5/34A-411
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-411)Sec. 34A-411.         Termination and reinstatement of Authority's power under this  Article.(a) The powers and responsibilities granted to or imposed upon the Authority  and the Board under Sections 34A-401 through 34A-410 of this Article shall  not be exercised after the Authority has certified to the Governor and the  Mayor that the Board has completed 6 successive Fiscal Years of balanced  Budgets pursuant to the accounting and other principles prescribed by the  Authority. Notwithstanding the foregoing sentence, Sections 34A-402, 34A-404,  34A-405, and 34A-408 shall continue in full force and effect after such  certification of the completion of 6 successive Fiscal Years of balanced  Budgets.(b) Upon determination by the Authority and certification of the Authority  to the Governor and the Mayor that the Board has failed to adopt a balanced  Budget by August 15th immediately preceding the commencement of each Fiscal  Year or failed to achieve a balanced Budget for two successive Fiscal Years,  subsequent to a time in which the powers and responsibilities of the Authority  and the Board are not exercised pursuant  to paragraph (a) of this Section, the Authority and Board shall resume the  exercise of their respective powers and responsibilities pursuant to each  Section of this Article.(c) Notwithstanding the provisions of subsections (a) and (b) of this  Section or any other provision of law to the contrary, the powers and  responsibilities granted to or imposed upon the Authority and the Board under  Sections 34A-401 through 34A-410 and Section 34A-606 are suspended until  December 31, 2010.    (Source: P.A. 93-488, eff. 8-8-03.)
105 ILCS 5/34A-412
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-412)Sec. 34A-412.     (Repealed).     (Source: Repealed by P.A. 88-511.)
105 ILCS 5/34A-413
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-413)Sec. 34A-413.     (Repealed).     (Source: Repealed by P.A. 88-511.)
105 ILCS 5/34A-414
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-414)Sec. 34A-414.     (Repealed).     (Source: Repealed by P.A. 88-511.)
105 ILCS 5/34A-415
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-415)Sec. 34A-415.     (Repealed).     (Source: Repealed by P.A. 88-511.)
105 ILCS 5/34A-501.1
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

Sec. 34A-501.1.     Additional bond authority.     Subject to the limitation  in additional amount authorized by this amendatory Act of 1993 in Section  34A-501, the Authority shall incur indebtedness by the issuance of its Bonds on  or after July 1, 1993 in principal amounts sufficient to provide the Board from  the proceeds of the Bonds the sum of $175,000,000 during the  Fiscal Year  beginning in 1993, and the sum of $203,000,000 during the Fiscal Year  beginning  in 1994, in each year for ordinary and necessary expenditures for educational  purposes, maintenance of school facilities, and other operational needs of the  Board.  All sums provided to the Board from proceeds of Bonds issued on or  after July 1, 1993 shall be treated  as revenues of the Board in that fiscal year for all purposes.    (Source: P.A. 88-511.)
105 ILCS 5/34A-504
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-504)Sec. 34A-504.     Debt service fund.(a) The Authority shall establish a  debt service fund for the Bonds to be maintained by a corporate trustee  (which may be any trust company or bank having the power of a trust  company within the State) separate and segregated from all other funds  and accounts of the Authority and the Board.  All moneys on deposit in  the debt service fund shall be held in trust in such debt service fund  for the benefit of holders of the Bonds, shall be applied solely for the  payment of principal of and sinking fund installment, redemption premium,  if any, and interest on the Bonds and shall not be used for any other purpose.  The holders of the Bonds shall have a security interest in and lien upon all  such moneys.(b) The Authority shall, by its resolution authorizing Bonds to be issued  on or after July 1, 1993 (other than to refund or to continue the refunding of  Bonds issued prior to July 1, 1993), establish a debt service fund which shall  be separate from any such fund for Bonds issued prior to July 1, 1993  (including Bonds  issued to refund or to continue the refunding of those prior Bonds).  Such a  separate debt service fund shall secure only Bonds issued on or after July 1,  1993 (other than Bonds to refund or to continue the refunding of Bonds issued  prior to July 1, 1993).  The debt service fund established with respect to  Bonds issued prior to July 1, 1993 (or to refund or to continue the refunding  of Bonds issued prior to July 1, 1993) shall not secure Bonds issued on or  after July 1, 1993 (other than Bonds issued to refund or to continue the  refunding of Bonds issued prior to July 1, 1993).    (Source: P.A. 88-511.)
105 ILCS 5/34A-505
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-505)Sec. 34A-505.     Debt service reserve fund.(a) The Authority may create  and establish a debt service reserve fund to be maintained by a corporate  trustee (which may be any trust company or bank having the power of a trust  company within the State) separate and segregated from all other funds and  accounts of the Authority.  The Authority may pay into such debt service  reserve fund:(i) any proceeds from the sale of Bonds to the extent     provided in the resolution authorizing the issuance thereof; and(ii) any other moneys which may be available to the     Authority for the purpose of the fund.(b) The amount to be accumulated in the debt service reserve fund shall  be determined by the Authority but shall not exceed the maximum amount of  interest, principal and sinking fund installments due in any succeeding  calendar year.(c) All moneys on deposit in such debt service reserve fund shall be held  in trust for the benefit of holders of the Bonds, shall be applied solely  for the payment of principal of and sinking fund installments and interest  on the Bonds to the extent not paid from the debt service fund and shall  not be used for any other purpose.(d) Any moneys in the debt service reserve fund in excess of the amount  determined by the Authority pursuant to a resolution authorizing the issuance  of Bonds may be withdrawn by the Authority and used for  any of its lawful purposes.(e) In computing the amount of the debt service reserve fund, investments  shall be valued as the Authority shall provide in the resolution authorizing  the issuance of the Bonds.(f) The Authority may by its resolution authorizing Bonds to be issued on  or after July 1, 1993 (other than to refund or to continue the refunding of  Bonds issued prior to July 1, 1993) create and establish such a debt service  reserve fund, which shall be separate  from any such fund for Bonds issued prior to July 1, 1993 (including Bonds  issued to refund or to continue the refunding of those prior Bonds).  Such a  separate debt service reserve fund shall secure only Bonds issued on or after  July 1,  1993 (other than to refund or to continue the refunding of Bonds issued  prior to July 1, 1993).  The debt service reserve fund established with respect  to  Bonds issued prior to July 1, 1993 (or to refund or to continue the refunding  of Bonds issued prior to July 1, 1993) shall not secure Bonds issued on or  after July 1, 1993 (other than Bonds issued to refund or to continue the  refunding of Bonds issued prior to July 1, 1993).    (Source: P.A. 88-511.)
105 ILCS 5/34A-506
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-506)Sec. 34A-506.     Bond Anticipation Notes.     (a) After the issuance of Bonds  shall have been authorized, the Authority shall have power to issue from  time to time, pursuant to a resolution or resolutions of the Authority,  its negotiable Bond Anticipation Notes in anticipation of the issuance of Bonds.(b) Bond Anticipation Notes shall mature not later than 2 years after  the date of issuance, may be made redeemable prior to their maturity and  may be sold in such manner, in such denominations, at such price or prices,  and shall bear interest at such rate or rates not to exceed the maximum  annual rate in accordance  with the provisions of paragraph (b)of Section 34A-502 hereof, as a resolution  authorizing the issuance of the Bond Anticipation Notes may provide.(c) The Bond Anticipation Notes may be made payable as to both principal  and interest from the proceeds of Bonds.  The Authority may provide for  payment of interest on the Bond Anticipation Notes from direct annual taxes  upon all the taxable property located within the school district which are  hereby authorized to be levied annually for such purpose without limit as  to rate or amount sufficient to pay such interest as it falls due, in the  manner, subject to the security interest and lien and with the effect provided  in Section 34A-503 hereof.(d) The Authority is authorized to issue renewal notes in the event it  is unable to issue Bonds to pay outstanding Bond Anticipation Notes on terms  the Authority deems reasonable.(e) A debt service fund shall be established in the manner provided in  Section 34A-504 by the Authority for such Bond Anticipation Notes and the  proceeds of any tax levy made pursuant to this Section shall be deposited  therein upon receipt.    (Source: P.A. 81-1221.)
105 ILCS 5/34A-507
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-507)Sec. 34A-507.     Resolution vesting powers in trustee.     The resolution  authorizing issuance of the Bonds shall vest in a trustee such rights,  powers and duties in trust as the Authority may determine and may contain  such provisions for protecting and enforcing the rights and remedies of the  holders of the Bonds and limiting such rights and remedies, as may be  reasonable and proper and not in violation of law, including covenants  setting forth the duties of the Authority in relation to the exercise of  its corporate powers and the custody, safeguarding and application of all  moneys. Such resolution shall provide for the manner in which moneys in  the various funds and accounts of the Authority may be invested in  Investment Obligations and the disposition of the earnings on such  investments.    (Source: P.A. 81-1221.)
105 ILCS 5/34A-508
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 5/ - School Code.|Article 34A - School Finance Authority

 (from Ch. 122, par. 34A-508)Sec. 34A-508.     Property of Authority exempt from taxation.     The property  of the Authority shall be exempt from taxation.    (Source: P.A. 81-1221.)