reglab/housing_qa huggingface dataset:
65 ILCS 5/8-6-2
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-6-2)Sec. 8-6-2.         For the purpose of creating a working cash fund, the corporate  authorities may incur an indebtedness and issue bonds therefor in an amount  not exceeding in the aggregate $20,000,000 in addition to all bonded  indebtedness authorized for that purpose prior to July 1, 1949.These bonds shall bear interest at a rate of not more than  the maximum rate authorized by the Bond Authorization Act, as amended at the  time of the making of the contract,  and shall mature within 20 years from the date thereof. The corporate  authorities may provide that the ordinance authorizing the issuance of  these bonds shall be operative and valid without the submission thereof to  the electors of the municipality for approval in accordance with the  requirements of Sections 8-4-1 and 8-4-2. The corporate authorities before  or at the time of issuing these bonds, shall provide for the collection of  a direct annual tax upon all the taxable property in the issuing  municipality, sufficient to pay and discharge the principal thereof at  maturity and to pay the interest thereon as it falls due. The amendatory  Acts of 1971, 1972 and 1973 are not a limit upon any municipality which is  a home rule unit.With respect to instruments for the payment of money issued under this  Section either before, on, or after the effective date of this amendatory  Act of 1989, it is and always has been the intention of the General  Assembly (i) that the Omnibus Bond Acts are and always have been supplementary  grants of power to issue instruments in accordance with the Omnibus Bond  Acts, regardless of any provision of this Act that may appear to be or to  have been more restrictive than those Acts, (ii) that the provisions of  this Section are not a limitation on the supplementary authority granted by  the Omnibus Bond Acts, and (iii) that instruments issued under this Section  within the supplementary authority granted by the Omnibus Bond Acts are not  invalid because of any provision of this Act that may appear to be or to  have been more restrictive than those Acts.    (Source: P.A. 86-4.)
65 ILCS 5/8-6-3
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-6-3)Sec. 8-6-3.         For the purpose of providing money for such a working  cash fund, the corporate authorities also have the power to levy  annually, upon all the taxable property in the municipality, a tax of  not to exceed .05% upon the value, as equalized or assessed by the  Department of Revenue, of that property for purposes of  taxation for the year in which each such levy is made.The collection of this tax shall not be anticipated by the issuance  of any warrants drawn against the tax. This tax shall be levied and  collected, except as otherwise provided in this Section, in like manner  as are the general taxes of the collecting municipality. It shall be  known as the working cash fund tax and shall be in addition to the  maximum of all other taxes which that municipality is now, or may be  hereafter, authorized by law to levy upon the taxable property within  the municipality.This tax may be levied by a separate ordinance prior to March 28 in  each year. This tax may be levied for the purpose specified in this  Section without any appropriation thereof being made in the annual or  supplemental appropriation ordinance.No tax shall be levied under this Section if the municipality has  previously issued the maximum amount of bonds permitted under Section  8-6-2.    (Source: P.A. 81-1509.)
65 ILCS 5/8-6-4
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-6-4)Sec. 8-6-4.         All money received from the issuance of bonds as  authorized in Section 8-6-2, or from any tax levied pursuant to the  authority granted by Section 8-6-3, shall be set apart in the specified  working cash fund by the municipal treasurer and shall be used only for  the purposes and in the manner provided in this section. The fund and  the money therein shall not be regarded as current assets available for  appropriation and shall not be appropriated by the corporate authorities  in the annual appropriation ordinance.The corporate authorities may appropriate moneys to 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 money with which to meet ordinary and necessary  disbursements for salaries and other corporate purposes, the fund may be  transferred in whole or in part to the general corporate fund of the  municipality and so disbursed therefrom in anticipation of the  collection of any taxes lawfully levied for general corporate 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.  Money so transferred to the general corporate fund shall be deemed to  have been transferred in anticipation of the collection of that part of  the taxes so levied or to be received which is in excess of the amount required  to pay any  tax anticipation warrants, and the interest thereon.Taxes levied for general corporate purposes, when collected, shall be  applied first to the payment of tax anticipation warrants or notes and the  interest thereon, and then to the reimbursement of the working cash  fund.Upon the receipt by the municipal treasurer of any taxes, in  anticipation of the collection of which, money in the working cash fund  has been so transferred for disbursement, the fund shall be immediately  reimbursed therefrom until the full amount so transferred has been  retransferred to the fund.    (Source: P.A. 85-459.)
65 ILCS 5/8-6-5
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-6-5)Sec. 8-6-5.         Money shall be transferred from the working cash fund to  the general corporate fund only upon the authority of the corporate  authorities who, from time to time by a separate ordinance, shall direct  the municipal treasurer to make a transfer of such sums as may be  required for the purposes authorized in this Division 6. That ordinance  shall set forth (1) the taxes in anticipation of the collection of which  the transfer is to be made and from which the working cash fund is to be  reimbursed, (2) the entire amount of taxes extended, or which the  corporate authorities estimate will be extended, or received, for any  particular year in anticipation of the collection of all or part of  which the transfer is to be made, (3) the aggregate amount of warrants  or notes theretofore issued in anticipation of the collection of these  taxes together with the amount of the interest which has accrued and  which, the corporate authorities estimate, will accrue thereon, (4)  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 (5)  the aggregate amount of money theretofore transferred from the working  cash fund to the general corporate fund in anticipation of the  collection of such taxes. The amount which that ordinance shall direct  the treasurer so to transfer in anticipation of the collection of taxes  levied or to be received for any particular year, together with the  aggregate amount of such tax anticipation warrants or notes theretofore  drawn against such taxes and the amount of the interest accrued and  estimated to accrue 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 the aggregate amount of such transfers  theretofore made in anticipation of the collection of these taxes, shall  not exceed 90% of the actual or estimated amount of such taxes extended  or to be extended or to be received as set forth in that ordinance.If money is available in the working cash fund, it 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 tax anticipation warrants or notes.    (Source: P.A. 81-1506.)
65 ILCS 5/8-6-6
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-6-6)Sec. 8-6-6.         Any person holding an office, trust, or employment under a  municipality with a population of more than 500,000, who is guilty of the  wilful violation of any of the provisions of this Division 6 shall be  guilty of a business offense and shall be fined not exceeding $10,000, and  shall forfeit his right to his office, trust, or employment and shall be  removed therefrom.  Any such person shall be liable for any sum that he  unlawfully diverted from the specified working cash fund, or otherwise  used, and that sum may be recovered by the municipality, or by any taxpayer  in the name and for the benefit of the municipality,  in a civil action.  Such a taxpayer, however, shall file a bond for all costs  and shall be liable for all costs taxed against the municipality in such a  suit, and judgment shall be rendered accordingly.  But nothing in this  Section shall bar other remedies.    (Source: P.A. 79-1361.)
65 ILCS 5/Art. 8 Div. 7 heading
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 DIVISION 7.      WORKING CASH FUND IN MUNICIPALITIES OF LESS THAN 500,000
65 ILCS 5/8-7-1
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-1)Sec. 8-7-1.         In each municipality with less than 500,000 inhabitants, a fund  to be known as a working cash fund may be created, set apart, maintained,  and administered in the manner prescribed in this Division 7 for the  purpose of enabling the municipality to have in its treasury at all times  sufficient money to meet demands thereon for ordinary and necessary  expenditures for all general and special corporate purposes.    (Source: Laws 1961, p. 576.)
65 ILCS 5/8-7-2
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-2)Sec. 8-7-2.         For the purpose of creating such a working cash fund, the  corporate authorities may incur an indebtedness and issue bonds therefor in  an amount or amounts not exceeding in the aggregate $700,000.These bonds shall bear interest at a rate of not more than  the maximum rate authorized by the Bond Authorization Act, as amended at the  time of the making of the contract,  and shall mature within 20 years from the date thereof. The corporate  authorities may provide that the ordinance authorizing the issue of these  bonds shall be operative and valid without the submission thereof to the  electors of the municipality for approval in accordance with the  requirements of Sections 8-4-1 and 8-4-2 and the requirements of the Bond  Issue Notification Act. The corporate authorities, before  or at the time of issuing these bonds, shall provide for the collection of  a direct annual tax upon all the taxable property in the issuing  municipality, sufficient to pay and discharge the principal thereof at  maturity and to pay the interest thereon as it falls due. The amendatory  Acts of 1971, 1972 and 1973 are not a limit upon any municipality which is  a home rule unit.With respect to instruments for the payment of money issued under this  Section either before, on, or after the effective date of this amendatory  Act of 1989, it is and always has been the intention of the General  Assembly (i) that the Omnibus Bond Acts are and always have been supplementary  grants of power to issue instruments in accordance with the Omnibus Bond  Acts, regardless of any provision of this Act that may appear to be or to  have been more restrictive than those Acts, (ii) that the provisions of  this Section are not a limitation on the supplementary authority granted by  the Omnibus Bond Acts, and (iii) that instruments issued under this Section  within the supplementary authority granted by the Omnibus Bond Acts are not  invalid because of any provision of this Act that may appear to be or to  have been more restrictive than those Acts.    (Source: P.A. 89-655, eff. 1-1-97.)
65 ILCS 5/8-7-3
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-3)Sec. 8-7-3.         For the purpose of providing money for such a working  cash fund, the corporate authorities shall also have power to levy,  annually, upon all the taxable property in the municipality, a tax of  not to exceed .05% upon the value, as equalized or assessed by the  Department of Revenue for the year in which each such  levy is made.The collection of this tax shall not be anticipated by the issuance  of any warrants drawn against the tax. This tax shall be levied and  collected, except as otherwise provided in this Section, in like manner  as are the general taxes of the collecting municipality. It shall be  known as the working cash fund tax and shall be in addition to the  maximum of all other taxes which that municipality is now, or may be  hereafter, authorized by law to levy upon the taxable property within  the municipality.This tax may be levied by a separate ordinance on or before the  second Tuesday in September in each year, for the purpose specified in  this Section, without any appropriation thereof being made in the annual  or supplemental appropriation ordinance.No tax shall be levied under this Section if the municipality has  previously issued the maximum amount of bonds permitted under Section  8-7-2.The foregoing limitation upon tax rate may be increased or decreased  according to the referendum provisions of the General Revenue Law of  Illinois.    (Source: P.A. 81-1509.)
65 ILCS 5/8-7-5
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-5)Sec. 8-7-5.         Money shall be transferred from the working cash fund to  the general corporate or special funds only upon the authority of the  corporate authorities, who from time to time by a separate ordinance  shall direct the municipal treasurer to make a transfer of such sums as  may be required for the purposes authorized in this Division 7. That  ordinance shall set forth (1) the taxes in anticipation of the  collection of which the transfer is to be made and from which the  working cash fund is to be reimbursed, (2) the entire amount of taxes  extended, or which the corporate authorities estimate will be extended  or received  for any particular year in anticipation of the collection  of all or part of which the transfer is to be made, (3) the aggregate  amount of warrants or notes theretofore issued in anticipation of the  collection of these taxes together with the amount of interest which has  accrued, and which, the corporate authorities estimate, will accrue  thereon, (4)  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 (5)  the aggregate amount of money theretofore transferred  from the working cash fund to such general or special corporate fund in  anticipation of the collection of such taxes. The amount which that  ordinance shall direct the treasurer so to transfer in anticipation of  the collection of taxes levied or to be received for any particular  year, together with the aggregate amount of such tax anticipation  warrants or notes theretofore drawn against such taxes and the amount of  the interest, accrued and estimated to accrue 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 the aggregate  amount of such transfers theretofore made in anticipation of the  collection of these taxes, shall not exceed 90% of the actual or  estimated amount of such taxes extended or to be extended or to be  received as set forth in that ordinance.If money is available in the working cash fund, it shall be  transferred to such general or special corporate fund and disbursed for  the payment of salaries and other corporate expenses so as to avoid,  whenever possible, the issuance of tax anticipation warrants or notes.    (Source: P.A. 81-1506.)
65 ILCS 5/8-7-6
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-6)Sec. 8-7-6.         Any person holding an office, trust, or employment under a  municipality with less than 500,000 inhabitants, who is guilty of the  wilful violation of any of the provisions of this Division 7 shall be  guilty of a business offense and shall be fined not exceeding $10,000, and  shall forfeit his right to his office, trust, or employment, and shall be  removed therefrom.  Any such person shall be liable for any sum that he  unlawfully diverted from the specified working cash fund, or otherwise  used, and that sum may be recovered by the municipality, or by any taxpayer  in the name and for the benefit of the municipality in a civil action.  Such a taxpayer, however, shall file a bond for all costs  and shall be liable for all costs taxed against the municipality in such a  suit, and judgment shall be rendered accordingly.  But nothing in this  section shall bar other remedies.    (Source: P.A. 79-1361.)
65 ILCS 5/8-7-7
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-7-7)Sec. 8-7-7.     Abolishment of working cash fund.(a) The corporate authority of any municipality may abolish its working cash  fund by resolution and may transfer any balance remaining in the fund,  including any interest that may have accrued, to the general corporate fund at  the end of the fiscal year.(b) A municipality that has abolished its working cash fund may not  establish another working cash fund under this Division 7 for 4 years  after the date the fund was abolished.  Any general obligation bonds that were  previously issued for working cash purposes must be retired before a  municipality may establish another working cash fund.    (Source: P.A. 87-982.)
65 ILCS 5/Art. 8 Div. 8 heading
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 DIVISION 8.      AUDIT OF ACCOUNTS
65 ILCS 5/8-8-1
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-8-1)Sec. 8-8-1.         This Division 8 may be cited as The Illinois Municipal Auditing  Law.    (Source: Laws 1961, p. 576.)
65 ILCS 5/8-8-2
2021 Illinois Compiled Statutes|Chapter 65 - MUNICIPALITIES|65 ILCS 5/ - Illinois Municipal Code.|Article 8 - Finance

 (from Ch. 24, par. 8-8-2)Sec. 8-8-2.   The following terms shall, unless the context otherwise indicates,  have the following meanings:(1) "Municipality" or "municipalities" means all cities, villages  and incorporated towns having a population of less than 500,000 as  determined by the last preceding Federal census.(2) "Corporate authorities" means a city council, village board of  trustees, library board, police and firemen's pension board, or any  other body or officers having authority to levy taxes, make  appropriations, or approve claims for any municipality.(3) "Comptroller" means the Comptroller of the State of Illinois.(4) (Blank).(5) "Audit report" means the written report of the auditor or auditors and all appended statements and schedules relating thereto,  presenting or recording the findings of an examination or audit of the  financial transactions, affairs, or condition of a municipality.(6) "Annual report" means the statement filed, in lieu of an audit  report, by the municipalities of less than 800 population, which do not  own or operate public utilities and do not have bonded debt.(7) "Supplemental report" means the annual statement filed, in  addition to any audit report provided for herein, by all municipalities,  except municipalities of less than 800 population which do not own or  operate public utilities and do not have bonded debt.(8) "Auditor" means a licensed certified public accountant, as that term is defined in Section 0.03 of the Illinois Public Accounting Act, or the substantial equivalent of a licensed CPA, as provided under Section 5.2 of the Illinois Public Accounting Act, who performs an audit of municipal financial statements and records and expresses an assurance or disclaims an opinion on the audited financial statements.(9) "Generally accepted accounting principles" means accounting principles generally accepted in the United States.(10) "Generally accepted auditing standards" means auditing standards generally accepted in the United States. (Source: P.A. 100-837, eff. 8-13-18; 101-419, eff. 1-1-20.)