55 ILCS 5/6-28004
2021 Illinois Compiled Statutes|Chapter 55 - COUNTIES|55 ILCS 5/ - Counties Code.|Article 6 - Finance

 (from Ch. 34, par. 6-28004)Sec. 6-28004.         Purpose for which proceeds of bond issue and  working cash fund may be used; transfer of funds. All  moneys received from the issuance of bonds as herein  authorized or from any tax levied pursuant to the authority granted by  this Division, shall be set apart in the county highway working cash fund by  the county treasurer and shall be used for the purposes and in the  manner hereinafter provided. Such fund, and the moneys therein, shall  not be regarded as current assets available for appropriation and shall  not be appropriated by the county board in the resolution termed the  annual appropriations bill.  The county board may appropriate moneys in  the working cash fund up to the maximum amount allowable in the fund, and  the working cash fund may receive such appropriations and any other  contributions. In order to provide moneys with which to  meet ordinary and necessary disbursements for salaries and other highway  purposes, such fund and the moneys therein may be transferred, in whole  or in part, to the county highway  fund of the county and so disbursed therefrom in anticipation of the  collection of any taxes lawfully levied for county highway purposes or  in the anticipation 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. Moneys transferred to the county highway fund from the county  highway working cash fund in anticipation of the collection of taxes  shall be deemed to have been transferred in anticipation of the  collection of that part of the county highway taxes so levied or to be  received which is in excess of the amount or amounts thereof required to  pay (a) any tax anticipation warrants and the interest thereon,  theretofore or thereafter issued and (b) any notes and the interest  thereon, theretofore or thereafter issued against the county highway tax and  (c) 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. Such taxes levied  or to be received for county highway purposes when collected shall be  applied, first to the payment of any such warrants and the interest thereon  and to the payment of any such notes and the interest thereon,  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 then to the reimbursement of said county highway  working cash fund as hereinafter provided. Upon the receipt by said  county treasurer of any taxes, or other moneys, in anticipation of the  collection or receipt whereof moneys of such county highway working cash  fund have been so transferred for disbursement, such fund shall  immediately be reimbursed therefrom until the full amount so transferred  has been retransferred to such fund. Unless the taxes and other moneys  so received and applied to the reimbursement of the county highway  working cash fund, prior to the first day of the seventh month following  the month in which due and unpaid real property taxes by law begin to  bear interest, shall be sufficient to effect a complete reimbursement of  such fund for any moneys transferred therefrom in anticipation of the  collection or receipt of such taxes, or other moneys, such county  highway working cash fund shall be reimbursed for the amount of the  deficiency therein from any other revenues accruing to said county  highway fund, and it shall be the duty of the county board to make  provision for the immediate reimbursement of the amount of any such  deficiency in its next resolution termed the annual appropriations bill.    (Source: P.A. 86-962.)