55 ILCS 5/6-27005
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-27005)Sec. 6-27005. Transfer to general corporate fund. Moneys shall be transferred from said working cash fund to  the general corporate 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 working cash  fund is to be reimbursed, (b) with respect only to transfers made in  anticipation of the levy of real property taxes, the entire amount of  taxes extended or which the county board estimates will be extended, for  any year, by the county clerk upon the books of the collectors of State  and county taxes within such county, in anticipation of the collection  of all or part of which such transfer is to be made, (c) the aggregate  amount of warrants theretofore issued in anticipation of the collection  of such taxes, together with the amount of interest accrued, and/or  which the county board estimates will accrue, thereon, (d) the aggregate  amount of notes theretofore issued in anticipation of the collection of  such taxes, together with the amount of the interest accrued, and/or  which the county board estimates will accrue, thereon, (e) the  amount of moneys, which the county board estimates will be earned by the  county clerk and the county collector, respectively, as fees or  commissions for extending or collecting taxes for any year, in  anticipation of the receipt of all or part of which such transfer is to  be made, (f) the amount of such taxes, as by law now or hereafter  enacted or amended, imposed by the General Assembly of the State of  Illinois 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 county board estimates will be received by  the county for any year, (g) 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 (h) the aggregate amount of moneys  theretofore transferred from the working cash fund to the general corporate  fund in anticipation of the collection of such taxes or of the receipt of  such other moneys to be derived from fees or commissions or of the receipt  of such taxes, as by law now or hereafter enacted or amended, imposed by  the General Assembly of the State of Illinois 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. 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 and the amount of the interest  accrued, 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, 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 moneys to be derived from fees or  commissions, or of the receipt of such taxes, as by law now or hereafter  enacted or amended, imposed by the General Assembly of the State of  Illinois 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 together with the aggregate amount theretofore  transferred in anticipation of the receipt of any such moneys and 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, shall not exceed the total amount which it is so  estimated will be received from such sources. To the extent that at any  time moneys are available in the working cash fund they shall be  transferred to the general corporate fund and disbursed for the payment of  salaries and other corporate expenses so as to avoid, whenever possible,  the issuance of anticipation tax warrants or notes.  (Source: P.A. 98-756, eff. 7-16-14.)