2023 Illinois Compiled Statutes › Chapter 105 - SCHOOLS › 105 ILCS 5/ - School Code. › Article 32 - Special Charter Districts

(105 ILCS 5/Art. 32 heading)
ARTICLE 32.  
		SPECIAL CHARTER DISTRICTS
(105 ILCS 5/32-1) (from Ch. 122, par. 32-1)
Sec. 32-1. May vote to organize under general law.
(a) Any special charter district may, by vote of its electors, cease to
control its school under the Act under which it was organized, and become part
of the school township or townships in which it is situated. Upon petition of
50 voters of the district, presented to the board having the control and
management of the schools, the board shall order submitted to the voters at an
election to be held in the district, in accordance with the general election
law, the question of "organizing under the general school law".
The secretary of the board shall make certification to the proper election
authority in accordance with the general election law.  If, however, a
majority of the votes cast at any such election in any school district subject
to Sections 32-3 through 32-4.11 is against organizing the district under
the general school law, the question may not again be submitted in the district
for 22 months thereafter, and then only upon petition signed by at least 2% of
the voters of the school district.  Notice shall be given in accordance with
the general election law, which notice shall be in the following form:
NOTICE OF REFERENDUM
Notice is hereby given that on (insert date), a referendum will be held at.... for the purpose of deciding the
question of organizing under the general school law.  The polls will be opened
at .... o'clock ..m and closed at .... o'clock ..m.
Signed .....
If a majority of the votes cast on the proposition is in favor of organizing
under the general school law, then the board having the control and management
of schools in the district, shall declare the proposition carried.
When such a proposition is declared to have so carried, the board of
education shall continue to exercise its powers and duties under the general
school law. Each member of the board of education selected under the provisions
of the special charter shall continue in office until his term has expired.
Before the term of each of these members expires, the board shall give notice
of an election to be held on the date of the next regular school election, in
accordance with the general election law to fill the vacancy which is created.
Nomination papers filed under this Section are not valid unless the candidate
named therein files with the county clerk or the county board of election commissioners, as the case may be, of the county in which the principal office of the school district is located a receipt
from the county clerk showing that the candidate has filed a statement of
economic interests as required by the Illinois Governmental Ethics Act.
Such receipt shall be so filed either previously during the calendar year
in which his nomination papers were filed or within the period for the filing
of nomination papers in accordance with the general election law.
(b) Notwithstanding the foregoing, any special charter district whose board
is appointed by the mayor or other corporate authority of that municipality
may, by resolution adopted by the corporate authorities of that municipality
cease to control its school under the Act under which it was organized,
become a part of the school township or townships in which it is situated
and become organized under the general school law.  If such a resolution
is adopted, the board of education shall continue to exercise its powers
and duties under the general school law.  Each member of the board of education
selected under the provisions of the special charter shall continue in office
until his term has expired.  Before the term of each of these members expires,
the board shall give notice of an election to be held on the date of the
next regular school election, in accordance with the general election law
to fill the vacancy which is created.
(Source: P.A. 98-115, eff. 7-29-13.)
(105 ILCS 5/32-1.1) (from Ch. 122, par. 32-1.1)
Sec. 32-1.1. 
		Election and powers of board - No provision in special act. 
		In all special charter districts maintaining schools under any general school
laws, where there is no provision in the special Acts creating such districts
for the election of boards of education as otherwise provided, there shall
be elected, in lieu of the school directors as now provided, a board of
education, to consist of 7 members to be elected at the time and in the
manner as provided by the general election law for the
election and qualification of boards of education in other cases. In any
district having a population of more than 100,000 but less than
2,000,000
such board may be increased in size to 11 members upon adoption by a majority
of electors residing in the district and voting on the question in a referendum
as provided in this Section. Such question shall be submitted to the electors
at an election upon a resolution adopted by the Board. Members
shall be elected biennially in the school district, whose term of office
shall be 4 years,
and there shall also be elected in each odd-numbered year
a president of the board. Following the first such election, those members
elected, other than the president, shall, by lot, determine 3 to serve 2
years and 3 to serve 4 years; thereafter, all terms shall be 4 years.  In
other cases, however, if 4 members, other than the president, are elected
in 1983, then those elected shall, by lot, determine one to serve for 2
years and 3 to serve 4 years; thereafter all terms shall be 4 years.  In
neither case shall such determinations affect the biennial selection of
the president.  At the first regular school election after
the adoption by the district electors of a question as provided in this
Section increasing the size of the board in those districts entitled to
exercise an option for and elect an 11 member board, 4 additional members
shall be elected and shall determine by lot 2 to serve for 2
years and 2 for 4 years.
Their successors shall serve for a 4 year term.  In case of
an 11 member board already in existence, if 7 members, other than the
president,
are elected in 1983 then those members elected shall, by lot determine one
to serve 2 years and 6 to serve 4 years.  Terms thereafter shall be 4 years.
The board of education shall have all the powers and duties of trustees
of schools in school townships and the powers and duties of boards of education
in districts having a population of not fewer than 1,000 and not more than
500,000 as provided by this Act.
The day upon which the election provided for in this section is to be held
is subject to the provisions of the general election law.
(Source: P.A. 86-225.)
(105 ILCS 5/32-1.2) (from Ch. 122, par. 32-1.2)
Sec. 32-1.2. 
		Powers of election boards.
A school board of any special charter district that is elected by the
voters shall have the powers and duties of school trustees.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-1.3) (from Ch. 122, par. 32-1.3)
Sec. 32-1.3. 
		Determination to elect-Election-Powers. 
		
		Any special charter district having a population of not less than 1,000
and not over 20,000, may, by vote of its electors, determine to elect,
instead of the directors or other governing or managing board now provided
for by the special Act under which it was organized, a board of education
which shall be elected at the time and in the manner and have the powers
conferred upon boards of education of districts under this Act.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-1.4) (from Ch. 122, par. 32-1.4)
Sec. 32-1.4. 
		Petition - referendum - election of board. 
		Upon petition
of 50 voters of any district as defined in Section 32-1.3 presented to the
board having the control and management of schools, the board shall, at
the next regularly scheduled election held in such district cause to be
submitted to the voters thereof, in accordance with the general election
law, the proposition of "electing a board of education having the powers
conferred upon such boards in districts organized under The School Code".
The board shall publish notice of such election, in the manner provided by the
general
election law, which notice may be in the following form:
Public notice is hereby given that on (insert date), a referendum will be
held at ...., between the hours of ...
..m. and ... ..m. of said day for the purpose of deciding the
question of "electing a board of education having the powers conferred upon
such boards in districts organized under the School Code".
If a majority of the votes cast is in favor of the proposition, then at
the time of the next regular election for boards of education, there shall
be elected a board of education for the district.
(Source: P.A. 91-357, eff. 7-29-99.)
(105 ILCS 5/32-1.5) (from Ch. 122, par. 32-1.5)
Sec. 32-1.5. 
		Election of board of education. 
		Any special charter district
may, by vote of its electors, determine to elect, instead of the managing
board provided for by its special charter, a board of education which shall
be elected at the time and in the manner as boards of education under Article
10 of this Act; but such determination shall not affect any other powers
or duties conferred or imposed by the special charter.
Upon petition of 10% or 200 of the voters, whichever is less, of any such
district requesting a referendum therefor, presented to the managing board
thereof, the board shall, or upon its own initiative if no such petition
has been presented the board may order submitted to the voters at the next
regular election, in accordance with the general election law, a proposition
to elect a board of education of 3 or 5 or 7 members, as the case may be.
The proposition shall be substantially as follows:
--------------------------------------------------------------
Shall school district.... be governed
by a board of education of.... members           YES
to be elected at the time and in the manner  ----------------
as boards of education under Article 10          NO
of the School Code?
--------------------------------------------------------------
If more than one proposition is properly presented to the board, the one
first presented shall be submitted to the electors.
If such proposition receives a majority of all valid votes cast thereon,
the change in membership shall
be effectuated at the next succeeding regular school election. In the conduct
of such election, the managing board shall take such measures as may be
necessary to arrange for the election of a board of 3, 5, or 7 members,
as the case may be. The new board shall be organized as provided in Article
10 of this Act, except that, if only 5 members are
to be elected, 2 (instead of 3) shall be selected by lot for a
2 year term, and if only 3 members are to be elected, then one
shall be selected by lot for a 2 year term.  In case of a 5 member board already
established, if 4 are elected in 1983, then those elected shall by lot
determine 2 to serve 2 years and 2 to serve 4 years.  All successors, except
to fill vacancies, shall be elected for terms of 4 years.
In the case of a 5 member board already established, on which the members
serve 5 year terms, the member elected in 1981 shall serve a 6 year term.
The 2 members elected in 1983 shall serve 6 year terms.  The 2 members elected
in 1985 shall also serve 6 year terms.  All successors, except to fill vacancies,
shall be elected for terms of 6 years.
As soon as the first new board is organized, the terms of all members of
the predecessor board shall terminate.
In any such school district which determines to elect a new board of education
as hereinabove authorized, the number of members on the board may thereafter
be changed by following the procedure hereinabove set forth.
At least 22 months must elapse after the date of an election
under this section before any of the above propositions may be again submitted
to the electors.
(Source: P.A. 81-1490.)
(105 ILCS 5/32-1.6) (from Ch. 122, par. 32-1.6)
Sec. 32-1.6. 
		School board districts.
Section 9-22 applies to all special charter districts as well as those
organized under the general school law.
(Source: P.A. 78-536.)
(105 ILCS 5/32-2.1) (from Ch. 122, par. 32-2.1)
Sec. 32-2.1. 
		Boards to which preceding section applicable. 
		
		The provisions of Section 32-2 shall apply to the board of school
inspectors of the City of Peoria and to all other boards of directors,
boards of education, and boards of school inspectors existing under any
special school charter heretofore granted by the State.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-2.5) (from Ch. 122, par. 32-2.5)
Sec. 32-2.5. Election of board of education in lieu of appointive board. In all special charter districts having a population of over 35,000 by the
last federal census, where the board of directors or board of education
is elected or appointed by the city council of the city, of which school
district such city may form the whole or a part, and where there are no
provisions in the special charter creating such school district for the
election of a board of directors or board of education, there shall be elected
in lieu of the present governing body a board of education to consist of
7 members. Nomination of a candidate for member of the board of education
shall be made by petitions signed in the aggregate by not less than 200
qualified voters residing in the school district, and also by filing with
the petitions a statement of candidacy as provided in the general election
law, which petitions and statements
of candidacy shall be filed in the office of the board of education in
accordance with the general election law.
Nomination papers filed under this Section are not valid unless the candidate
named therein files with the county clerk or the county board of election commissioners, as the case may be, of the county in which the principal office of the school district is located a receipt
from the county clerk showing that the candidate has filed a statement of
economic interests as required by the Illinois Governmental Ethics Act.
Such receipt shall be so filed either previously during the calendar year
in which his nomination papers were filed or within the period for the filing
of nomination papers in accordance with the general election law.
The county clerk or the county board of election commissioners shall make certification to the proper election
authority in accordance with the general election law.
(Source: P.A. 98-115, eff. 7-29-13.)
(105 ILCS 5/32-2.6) (from Ch. 122, par. 32-2.6)
Sec. 32-2.6. 
		Election - vacancies - names on ballots. 
		All elections in school districts described in Section 32-2.5 shall
be conducted in accordance with the provisions of the general election law.
If any member of the board of
education is disqualified to hold office, the board of education may, by
resolution, declare the office vacant, and provide for an appointment
to fill the vacancy until the next election
for members of the board of education. The nomination and
election of a candidate thereupon to fill the vacancy shall be made in the same
manner as the nomination of a candidate for a regular term, as
hereinbefore provided, except that there shall be printed on the ballot
that the election is for a certain number of persons for a certain
number of years to fill a vacancy. The names of all candidates for member of such board
of education shall be printed on the ballot in alphabetical order
according to their surnames.
(Source: P.A. 80-1469.)
(105 ILCS 5/32-2.10) (from Ch. 122, par. 32-2.10)
Sec. 32-2.10. 
		Application of law. 
		In all special charter districts of this State having a population of not
more than 50,000 lying wholly or in part within any city, village, or incorporated
town, the school directors or members of the board of education,
as provided in the special charter, shall be elected at elections held as
provided by the general election law, and all
propositions pertaining to said school districts required to be submitted
to the voters thereof shall be voted upon at elections held as provided
in the general election law.
(Source: P.A. 81-1490.)
(105 ILCS 5/32-2.11) (from Ch. 122, par. 32-2.11)
Sec. 32-2.11. 
		Election of board members. 
		In every city whose schools have
been operating under special Acts and are governed by a board of school
inspectors where such city, together with territory added thereto for school
purposes, includes 2 districts for the purpose of electing 6 inspectors
(3 in each district) and 1 district for all other school purposes, there
shall continue to be elected a board of school inspectors, consisting of
6 members (3 in each district) and 1 inspector at large who shall be chosen
for a term of 4 years.  If 4  inspectors, excluding the inspector
at large, are elected in 1983, those selected shall by lot determine one
inspector to serve for 2 years and 3 for 4 years.  Thereafter all terms
shall be for 4 years.
(Source: P.A. 81-1490.)
(105 ILCS 5/32-2.12) (from Ch. 122, par. 32-2.12)
Sec. 32-2.12. 
		Time for election of board members. 
		In all special charter districts, the regular election of members
of such boards shall hereafter be held on the date set for
school elections
as provided in the general election law in
odd numbered years.
(Source: P.A. 81-1490.)
(105 ILCS 5/32-2.13) (from Ch. 122, par. 32-2.13)
Sec. 32-2.13. 
		
		No annexation accomplished pursuant to Section 7-2.1 shall
affect the method of selection of the board of the special charter district
as otherwise provided by law excepting in those instances where the special
charter has an appointive school board appointed solely within the
boundaries of a municipality within such special charter school district;
in those instances where there are voters living within the school
district, but outside the municipality, the county superintendent of
schools having supervision over the greatest portion of the territory of
the special charter district shall appoint one additional member to the
board of education of the special charter district effective with the date
and for the term for which other appointments to the special charter board
are effective; provided, further, that during any period the number of
voters living within such school district but outside the municipality
exceeds a quotient determined by dividing the total number of voters living
in the municipality by the number of school board members appointed within
said municipality, the county superintendent shall appoint one additional
school board member for each time such quotient is equaled.
(Source: P.A. 82-783.)
(105 ILCS 5/32-3) (from Ch. 122, par. 32-3)
Sec. 32-3. 
		Law
governing appointment. 
		Where, by the provisions of any general or special law, the members of
the city council of any city have been made ex-officio school directors or
members of the board of education for the school district of which the city
constitutes the whole or a part, the school directors or members of the
board of education shall be appointed as provided in Section 32-3.1.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-3.1) (from Ch. 122, par. 32-3.1)
Sec. 32-3.1. 
		Nomination by mayor-President of board. 
		
		The mayor of any city described in Section 32-3, at the first regular
meeting of the city council, after each annual municipal election and after
his installation into office, shall nominate and place before the council
for confirmation as school directors or members of the board of education,
as the case may be, 1 person from each ward of the city to serve for 2
years and 1 person from the city at large to serve for 1 year. If the
persons so appointed are confirmed by a majority vote of the city council,
to be entered of record, such persons shall constitute the board of
education or school directors for the district. The person appointed from
the city at large for 1 year shall be president of the board of education
or school directors but shall have no vote except in case of a tie.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-3.2) (from Ch. 122, par. 32-3.2)
Sec. 32-3.2. 
		City of 45,000-Number of members-Nomination-Vacancy. 
		
		In any city, however, having a population of 45,000 or more,
constituting a school district to which Sections 32-3 to 32-4.11,
inclusive, are applicable, the board of education shall consist of 11
persons who shall be nominated by the mayor from the city at large and
confirmed by a majority vote of the city council, 1 of which persons shall
be designated by the mayor as the president of the board of education. The
president shall have no vote except in case of a tie. 5 Members of the
board of education and such person as may be designated as the president
thereof shall be nominated by the mayor and placed before the city council
for confirmation at the first regular meeting of the city council after the
mayor's installation into office, and upon confirmation by the council
shall hold their offices for 2 years and until their successor shall be
chosen as herein provided. The remaining 5 members of the board of
education shall be nominated by the mayor and placed before the city
council for confirmation at the first regular meeting of the city council
next after 1 year from the date of the mayor's installation into office,
and upon confirmation by the council shall hold their offices for 2 years
and until their successors shall be chosen as herein provided. If a vacancy
occurs in the board of education, the mayor shall nominate and place before
the city council for confirmation at a regular meeting thereof some person
to fill the vacancy, and upon confirmation by the city council, the person
so nominated shall hold the office during the remainder of the term for
which his predecessor was appointed.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-3.3) (from Ch. 122, par. 32-3.3)
Sec. 32-3.3. 
		Organization and powers of board. 
		
		The board members appointed under Section 32-3.1 to 32-3.2 shall, as
soon as practicable after their appointment, organize by electing 1 of
their number secretary, who shall hold his office for 1 year.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-3.5)
Sec. 32-3.5. Student board member. The governing board of a special charter district may appoint a student to the board to serve in an advisory capacity.  The student member shall serve for a term as determined by the board.  The board may not grant the student member any voting privileges, but shall consider the student member as an advisor. The student member may not participate in or attend any executive session of the board.
(Source: P.A. 94-231, eff. 7-14-05.)
(105 ILCS 5/32-4) (from Ch. 122, par. 32-4)
Sec. 32-4. 
		Powers of board.
The board of inspectors referred to in Section 32-2.11 may, in addition
to the powers conferred upon it by special law and the applicable
provisions of this Act, employ teachers, janitors and such other employees
as it deems necessary and fix the amount of their compensation; buy or
lease sites for schoolhouses, with the necessary grounds; build, erect,
lease or purchase buildings suitable for school purposes; repair and
improve buildings and furnish them with the necessary supplies, fixtures,
apparatus, libraries and fuel; and may lease school property, when not
needed for school purposes, for a term of not longer than 99 years from the
date of the granting of the lease. All such leases shall provide for
revaluation privileges at least once in every 20 years.
In case the school board and the lessee cannot agree on revaluation and
a new rent, the same shall be determined in the following manner: 3 arbitrators
shall be appointed, 1 by the school board, 1 by the
lessee, and 1 by the arbitrators appointed by the school board and the
lessee. The 3 arbitrators, or a majority of them, shall fix and determine
the revaluation and the new rent and their decision or a decision of a
majority of them shall be final.
When, in the opinion of the school board,
a school site, building, or site with building thereon, or any other real
estate of the district, has become unnecessary or unsuitable or
inconvenient for a school, or unnecessary for the uses of the district and
the school board decides to sell the same,
unless the property is to be sold to a tenant that has leased the
property for 10 or more years and that tenant is a non-profit agency, the
school board shall give notice of the sale
stating the time and place the sale is to be held, the terms of the sale
and a description of the property to be sold. The notice shall be published
in a newspaper of general circulation published in the district, or if
none, in the county in which the district is situated, such notice to be
published once each week for 3 successive weeks, and the first publication
to be at least 30 days prior to the day the sale is to be held. Unless the
school board holds legal title to the property, the school
board shall notify the trustees of schools of the terms upon which the school
board
desires the property to be conveyed. The school board or trustees of
schools holding legal title to the property shall convey the property in
accordance with the terms fixed by the school board.
The deed of
conveyance shall be executed
by the president and secretary or clerk of the school board or trustees of
the school holding legal title to the property and the proceeds if any shall be
paid
to the school treasurer for the benefit of the district.
In the case of a sale of property to a tenant that has leased the
property for 10 or more years and that is a non-profit agency, an
appraisal is required prior to the sale.  If the non-profit agency purchases
the property for less than the appraised value and subsequently sells the
property, the agency may retain only a percentage of the profits that is
proportional to the percentage of the appraisal,
plus any improvements made by the agency while the agency was the
owner,
that the agency paid in the
initial sale.
 The remaining portion of the profits made by the non-profit agency
shall revert to the school district.
(Source: P.A. 92-365, eff. 8-15-01.)
(105 ILCS 5/32-4.1) (from Ch. 122, par. 32-4.1)
Sec. 32-4.1. 
		Annual tax levy - Township treasurer custodian.
The board of school inspectors of districts described in Section 32-2.11
may levy a tax, annually, upon all of the taxable property of the
district, in the manner provided by Sections 17-2 through 17-9, and in
accordance with the powers conferred by Section 32-4.  All moneys raised by
taxation for school purposes, or received from the common school fund or
any other source, or held or collected for school purposes, shall be paid
to and held by the school treasurer as a special fund for school purposes,
subject to the order of the board of school inspectors upon warrants signed
by the president and secretary thereof or a majority of the board.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.2) (from Ch. 122, par. 32-4.2)
Sec. 32-4.2. 
		Leasehold revenue bonds. 
		The board of inspectors of districts described in Section 32-2.11 in
addition to all other powers conferred upon it by special law and the
applicable provisions of this Act, may borrow money for the purpose of
building schoolhouses, or repairing, altering or building additions to any
schoolhouses already erected, or purchasing schoolhouse sites, or
purchasing land outside the school district pursuant to the provisions of
Section 22-16 and as evidence of the indebtedness may issue revenue bonds
in denominations of not less than $100 nor more than $1,000 payable solely
from rentals or other revenue to be derived from any lease of school
property made by said board of inspectors in accordance with the power
conferred by Section 32-4. Said bonds shall be negotiable instruments and
shall bear interest at a rate not exceeding the maximum rate authorized
by the Bond Authorization Act, as amended at the time of the making of the
contract, payable
semi-annually, and shall mature at or prior to the expiration of the term
of said lease, provided that in any event all such bonds shall mature
within 40 years from the date of said bonds. Said bonds shall not
constitute a general obligation of the school district and may be issued in
addition to all other bonds which the school district is now or hereafter
may be authorized to issue. Said bonds shall not constitute an indebtedness
of the school district within the meaning of any constitutional or
statutory limitation.
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.)
(105 ILCS 5/32-4.3) (from Ch. 122, par. 32-4.3)
Sec. 32-4.3. 
		Resolution.
Said bonds shall be sold in such manner and upon such terms not
inconsistent with the provisions hereof as the board of inspectors shall
determine by resolution authorizing the issuance of said bonds. The
resolution may contain such covenants and restrictions upon the issuance of
additional revenue bonds thereafter as may be deemed necessary or advisable
for the assurance of the payment of all revenue bonds previously issued and
secured by the rentals and other revenue from any lease upon the same
school property. The resolution shall pledge the rentals and other revenue
from said school property for the purpose of paying the cost of operation
and maintenance of said school property, providing an adequate depreciation
fund, and paying the principal of and interest on bonds issued pursuant
thereto and shall provide for the deposit of all rentals and other revenue,
as received, in a special fund to be used only for the purpose of paying
the cost of operating and maintaining said school property, providing an
adequate depreciation fund, and paying the principal of and interest on
said bonds.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.4) (from Ch. 122, par. 32-4.4)
Sec. 32-4.4. 
		Publication - Referendum on petition. 
		Within 10 days after
this resolution has been adopted by the board of inspectors it shall be
published at least once in 1 or more newspapers published in the school
district, or if no newspaper is published in such school district, then in
1 or more newspapers with a general circulation therein. The publication of
the resolution shall include a notice of (1) the specific number of voters
required to sign a petition requesting that the question of the adoption of
the resolution be submitted to the electors of the school district; (2) the
time in which such petition must be filed; and (3) the date of the
prospective referendum. The secretary of the Board of inspectors shall
provide a petition form to any individual requesting one. If no petition is
filed with the secretary of the board of inspectors as hereinafter provided
in this Section within 30 days after the publication of the resolution, or
if any and all petition filed are invalid, the resolution shall be in
effect immediately upon the expiration of that 30 day period. But if within
that 30 day period a petition is filed with the secretary, signed by voters
residing within the school district equal to 10% or more of the number of
registered voters in the district, asking that the question of issuing
revenue bonds as provided in said resolution be submitted to the voters of
the school district, the board of inspectors of the school district shall
certify the proposition of issuing revenue bonds as described in said
resolution to the proper election authorities for submission to the
electors in accordance with the general election law. If a majority of the
voters voting upon the question voted in favor of the issuance of said
revenue bonds, then the resolution shall be in effect, but if a majority of
the voters voting upon the question are not in favor thereof, the
resolution shall not take effect.
(Source: P.A. 87-767.)
(105 ILCS 5/32-4.5) (from Ch. 122, par. 32-4.5)
Sec. 32-4.5. 
		Signing, attestation, numbering and registration.
All bonds issued pursuant to the authority of sections 32-4.2 to 32-4.5,
inclusive, shall be signed, attested, countersigned, numbered, and
registered and disposition thereof made pursuant to the provisions of
section 32-5.9.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.6) (from Ch. 122, par. 32-4.6)
Sec. 32-4.6. Title, care and custody of property; supervision and control. The title, care and custody of all schoolhouses and school sites
belonging to districts that are described in Section 32-2.11 and that are
not districts whose school boards under subsection (a) of Section 10-22.35B of this Code are to
hold legal title to school buildings and school sites of the district shall
be vested in the
trustees of schools of the townships in which the districts are situated, but the supervision
and control of such schoolhouses and sites shall be vested in the board of
inspectors of the districts.
In all other cases, the legal title, care, custody and control of school
houses and school sites belonging to districts that are described in Section
32-2.11, together with the supervision and control of those school houses and
sites, shall be vested in the board of inspectors of the districts.
(Source: P.A. 100-374, eff. 8-25-17.)
(105 ILCS 5/32-4.7) (from Ch. 122, par. 32-4.7)
Sec. 32-4.7. 
		Change of boundaries. 
		
		The trustees of schools of townships in which districts described in
Section 32-2.11 are situated may change the boundaries of such school
districts when petitioned as provided by this Act.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.8) (from Ch. 122, par. 32-4.8)
Sec. 32-4.8. 
		Powers of boards - Bond of treasurer.
The board of education of a school district described in Section 32-2.5
shall have all the powers of trustees of schools in school townships and
all the powers of boards of directors, and boards of education elected by
virtue of this Act, and shall also have power to elect and appoint a
secretary for such board, who shall attend all its meetings and keep an
accurate record of all proceedings of the board and shall also have power
to appoint a treasurer for the district whose term of office, duties and
obligations shall be the same as a treasurer appointed by the trustees of
schools, except that the treasurer appointed under this section shall not
be obliged to keep a record of the proceedings of the board. The treasurer
shall, before entering upon his duties, execute a bond in such amount and
with such sureties to be approved by the board of education, and containing
such provisions, as provided in Section 8-2 for the bonds of treasurers
appointed by trustees of schools; provided, however, the board of education
of a school district described in Section 32-2.5 shall not be required to
submit to the voters the propositions of selecting school sites, purchasing
school sites and building school buildings, as provided by any other
section of this Act, but shall have power in its discretion to select and
purchase school sites and build, repair, alter and build additions to any
school buildings which is deemed necessary and in the interests of the
district, and the power to issue bonds and the procedure to be followed in
the issuance of bonds shall be governed by the provisions of Sections 32-5.6 to
32-5.9 inclusive.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.9) (from Ch. 122, par. 32-4.9)
Sec. 32-4.9. 
		Powers and duties of board members.
All rights, powers and duties heretofore exercised by and devolved upon
the members of the city council, as ex-officio member of the board of
education, or school directors, shall devolve upon and be exercised by the
members of the board of education and school directors appointed under the
provisions of this Article.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.10) (from Ch. 122, par. 32-4.10)
Sec. 32-4.10. 
		Amount to be raised-Tax levy. 
		In all school districts to which Sections 32-3 to 32-4.11, inclusive,
apply the school boards shall annually, before August 1, certify to the
city council under the signatures of the president
and secretary of
the board, the amount of money required to be raised by taxation for school
purposes in the district for the ensuing year, and the city council shall
thereupon cause the amount to be levied and collected in the manner now
provided by law for the levy and collection of taxes for school purposes in
the district, but the amount to be so levied and collected shall not exceed
the amount now allowed to be collected for school purposes by this Act.
When such taxes have been collected and paid over to the treasurer of the
city or school district, as may be provided by the terms of the Act under
which the district has been organized, such funds shall be paid out only on
the order of the board of education or school directors, signed by the
president and secretary.
(Source: P.A. 84-550.)
(105 ILCS 5/32-4.10a)
Sec. 32-4.10a. (Repealed).
(Source: P.A. 77-4. Repealed by P.A. 94-1105, eff. 6-1-07.)
(105 ILCS 5/32-4.11) (from Ch. 122, par. 32-4.11)
Sec. 32-4.11. 
		Tax
anticipation warrants.
Whenever there is no money in the hands of the treasurer of any school
district to which Sections 32-2 to 32-4.11, inclusive,
shall apply, to defray the necessary expenses of such district, including
amounts necessary to pay maturing principal and interest of bonds, it is lawful
for the school board of
the district to draw and issue warrants against and
in
anticipation of any taxes already levied for the payment of the necessary
expenses of the district, either for transportation, educational or for
all operations, building and maintenance purposes, or for payments to
the Illinois Municipal Retirement Fund, or for the payment of maturing principal
and interest of bonds, as the case may be, to the extent
of 85% of the total amount
of any such taxes levied. The warrants shall show upon their face that they
are payable solely from said taxes when collected, and shall be received by
any collector of taxes in payment of the taxes against which they are
issued. The taxes against which the warrants are drawn shall be set apart
and held for their payment. Every warrant shall bear interest, payable only
out of the taxes against which it shall be drawn, at a rate not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, if issued before
January 1, 1972 and not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, if issued after January 1, 1972, from
the date of its issuance until
paid, or until notice is given by publication in a newspaper or otherwise
that the money for its payment is available and that it will be paid upon
presentation.
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.)
(105 ILCS 5/32-4.12) (from Ch. 122, par. 32-4.12)
Sec. 32-4.12. 
		Sale of real estate-Use of proceeds.
The board of education of any special charter district may sell and
dispose of any real estate conveyed to it by any city for school purposes
and use the proceeds derived from the sale thereof for school building
purposes or for the purchase of other real estate for such purposes.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.13) (from Ch. 122, par. 32-4.13)
Sec. 32-4.13. 
		Eminent domain.
Whenever any school district existing by virtue of any special charter
and governed by any or all such special charter or special school laws of
this State, and having a population of fewer than 500,000 inhabitants,
requires any lot or parcel of land situated within the district for a site
for a school building or for an addition to any school building already
erected and used for school purposes, or requires any lot or parcel of land
situated within such school district for the purpose of a playground for
school children, and the compensation for such lot or parcel of land cannot
be agreed upon between the owner or owners of such lot or parcel of land
and the corporate authority managing and controlling the public schools of
such district it is lawful for the corporate authority of the district to
acquire such lot or parcel of land and have the compensation to be paid
therefor determined in the manner provided by law for the exercise of the
right of eminent domain.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.14) (from Ch. 122, par. 32-4.14)
Sec. 32-4.14. 
		Issuance of orders.
The corporate authorities of any special charter district having a
population of less than 500,000 may issue and deliver at least once each
month to the teachers and employees of the district orders on the treasurer
of the district in payment of their salaries. Such orders shall state the
rate of compensation and time for which the teacher or employee is paid and
an order so issued, properly endorsed and paid in full shall be sufficient
receipt for the purpose of this and the succeeding section. The corporate
authorities shall issue no order except an order for the payment of wages
of teachers and employees unless at the time of its issuance there are
sufficient funds in the hands of the treasurer to pay it.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.15) (from Ch. 122, par. 32-4.15)
Sec. 32-4.15. 
		Form of orders.
Every order issued by the corporate authorities of a district as
described in Section 32-4.14 shall state for what purpose and on what
account it is issued, and shall be in the following form:
STATE OF ILLINOIS
$.......
No. ....
To the Treasurer of .... School District, .... County, Illinois.
Pay to the order of .... the sum of .... Dollars ($....)
for .....
By order of the Board of Education (or Board of School Inspectors) of
.... School District, .... County, Illinois.
....(President)
....(Clerk)
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-4.16) (from Ch. 122, par. 32-4.16)
Sec. 32-4.16. 
		Cities, villages and towns-Levy made by board of education. 
		
		Where a school district was organized as a special charter district of a
city, village, or town, and where such district has an elective board of
education of either 5 or 7 members, and of which board the mayor of the
city, village or town is not ex officio a member, it is not necessary for
such board of education to present an annual financial report to the city,
village or town council, or board of trustees, nor a statement as to the
amount of money necessary to be raised by taxation for school purposes for
the ensuing school year and the council or board of trustees, as the case
may be, shall not make the levy for school purposes but the board of
education shall make the levy for school purposes for such district.
The certificate of such levy shall be made at the time and, as near as
may be, in the form and manner provided in Section 17-11.
(Source: P.A. 77-490.)
(105 ILCS 5/32-5) (from Ch. 122, par. 32-5)
Sec. 32-5. Bond issues - district boundaries coextensive with city. For the purpose of building or repairing schoolhouses or purchasing
or improving school sites, including the purchase of school sites
outside the boundaries of the school district and building school
buildings thereon as provided by Section 10-20.10 of this Act, any
special charter district governed by a special charter, and special or
general school laws, whose boundaries are coextensive with or greater
than the boundaries of any incorporated city, town or village, where
authorized by a majority of all the votes cast on the proposition may
borrow money and as evidence
of the indebtedness, may
issue bonds in denominations of not less than $100 nor more than $1,000,
for a term not to exceed 20 years bearing interest at a rate not to
exceed the maximum rate authorized by the Bond Authorization Act, as amended
at the time of the making of the contract, payable annually,
semi-annually, or quarterly,

signed by the president and secretary of the school board of the
district; provided, that the amount borrowed shall not exceed, including
existing indebtedness, 5% of the taxable property of such school
district, as ascertained by the last assessment for State and county
taxes previous to incurring such indebtedness.
With respect to instruments for the payment of money issued under this
Section either before, on, or after June 6, 1989 (the effective date of Public Act 86-4), 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. 99-642, eff. 7-28-16.)
(105 ILCS 5/32-5.1) (from Ch. 122, par. 32-5.1)
Sec. 32-5.1. 
		Registration, numbering and countersigning. 
		
		All bonds authorized by Section 32-5, before being issued, negotiated
and sold, shall be registered, numbered and countersigned by the treasurer
of the school district. The registration shall be made in a book in which
shall be entered the record of the election authorizing the school district
to issue bonds, and a description of the bonds issued, including the
number, date, amount, rate of interest and when payable.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-5.2) (from Ch. 122, par. 32-5.2)
Sec. 32-5.2. 
		Moneys paid into treasury - Delivery of bonds - Records. 
		
All moneys borrowed by virtue of Section 32-5 shall be paid into the
treasury of the school district.  Upon receiving the moneys, the treasurer
shall deliver the bonds issued therefor to the persons entitled to receive
them, and shall credit the amount received to the district.  The treasurer
shall record the amount received for each bond issued, and when any bond is
paid the treasurer shall cancel it and enter in the register opposite the
record of the bond the words "paid and cancelled" and
the date of the payment.
(Source: P.A. 91-357, eff. 7-29-99.)
(105 ILCS 5/32-5.3) (from Ch. 122, par. 32-5.3)
Sec. 32-5.3. 
		Election - Notice - Judges. 
		Whenever it is desired to hold a referendum for the purpose of
borrowing money as provided by Section 32-5, the school board of the
district in which the proposition is to be held shall
adopt a resolution ordering the referendum and shall certify the proposition
to the proper election authorities who shall submit the proposition at a
regular scheduled election in accordance with the general election law.
(Source: P.A. 81-1489.)
(105 ILCS 5/32-5.5) (from Ch. 122, par. 32-5.5)
Sec. 32-5.5. 
		Issue of new bonds. 
		
		When any school district described in Section 32-5 has heretofore
issued bonds or other evidences of indebtedness, on account of any public
school building, or for any other purpose, which are now binding and
subsisting obligations against such school district and remaining
outstanding, such school district may, upon the surrender of any such bonds
or any part thereof, or other evidences of indebtedness, issue in lieu
thereof, to the holders of the bonds, or to any persons, for money with
which to take them up, new bonds in accordance with the provisions of
Sections 32-5 to 32-5.4, inclusive; provided, such bonds shall not be
issued so as to increase the aggregate indebtedness of such school district
to exceed, including existing indebtedness, 5% of the taxable property of
such school district, to be ascertained by the last assessment for State
and county taxes previous to incurring such indebtedness.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-5.6) (from Ch. 122, par. 32-5.6)
Sec. 32-5.6. 
		
		Special charter districts with population less than
500,000 - Authority to borrow money and issue bonds. The corporate
authorities of any special charter district having a population of less
than 500,000 governed by a special charter, or special charter and
general law, may borrow money for the purpose of building schoolhouses,
or repairing, altering and building additions to any schoolhouse already
erected, or purchasing schoolhouse sites or purchasing grounds adjoining
any schoolhouse site, or separated therefrom only by a public street or
way, and shall also include the purchase of school sites outside the
boundaries of the school district and building school buildings thereon
as provided by Sections 10-22.35 and 10-22.36 of this Act, and may
issue its negotiable coupon bonds therefor in such form and such
denominations, payable at such place and at such time or times (not
exceeding 20 years from date of issuance) and bearing interest at such
rate as the corporate authorities may by resolution prescribe. The bonds
shall be in denominations of not less than $100 nor more than $5,000,
and shall bear interest at a rate not to exceed the maximum rate authorized
by the Bond Authorization Act, as amended at the time of the making of the
contract, if issued
before January 1, 1972 and not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended at
the time of the making of the contract, if issued after
January 1, 1972, payable semi-annually. No money may be borrowed or
bonds issued, however, unless the proposition to borrow money and issue
bonds for the purpose or purposes and in the amount prescribed in the
resolution is certified to the proper election authorities and submitted
to the voters of the school district at a regular scheduled election
in accordance with the
general election law, and the majority of
all the votes cast on the proposition is in favor thereof.  The
corporate authorities may not incur any indebtedness under this Section,
which together with all other outstanding indebtedness, exceeds in the
aggregate the indebtedness limitation under Section 19-1 of this Act
that would be applicable if the district were not a special charter
district.
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.)
(105 ILCS 5/32-5.7) (from Ch. 122, par. 32-5.7)
Sec. 32-5.7. 
		Submission to voters - Notice of election. 
		Whenever it is desired to submit to the voters of any school district
to which Section 32-5.6 applies the proposition to borrow money and
issue bonds for any or all of the purposes specified in Section 32-5.6,
the school board of such school district
shall adopt a resolution directing that such proposition be submitted
to referendum and the secretary of the board shall certify the proposition
to the proper election authorities for submission to the electors in accordance
with the general election law.
(Source: P.A. 81-1489.)
(105 ILCS 5/32-5.8) (from Ch. 122, par. 32-5.8)
Sec. 32-5.8. 
		Ballots. 
		The proposition
submitted to the voters of any school district to which Sections 32-5.6
to 32-5.9, inclusive, apply shall specify the total
amount of the bonds sought to be issued, and the specific purpose or
purposes for which the bonds shall be issued, and shall be substantially
in the following
form:
--------------------------------------------------------------
Shall bonds or obligations for
the purpose of (state specific               YES
purpose) in the sum of $.... be
issued by (state whether to be          ----------------------
issued by the board of education
or board of school inspectors)               NO
of....?
--------------------------------------------------------------
(Source: P.A. 81-1489.)
(105 ILCS 5/32-5.9) (from Ch. 122, par. 32-5.9)
Sec. 32-5.9. 
		Signature and attestation - Numbering and registration - Delivery of bonds.
All bonds authorized to be issued under Sections 32-5.6 to 32-5.9,
inclusive, before being issued, negotiated and sold shall be signed by the
president of the school board and attested by the secretary and
countersigned by the treasurer of the school board or of the school
district. All of the bonds shall be numbered by such treasurer and
registered in a book. All moneys borrowed under Section 32-5.6 to 32-5.9,
inclusive, shall be paid into the treasury of the school board, or of the
school district, and thereupon the treasurer thereof shall deliver the
bonds therefor to the persons entitled to receive them. The treasurer shall
record the amount for which each bond is issued, negotiated and sold, and
when any bond is paid, he shall cancel it and enter in the register
opposite the record of the bond the date, month and year when it was paid.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-5.10) (from Ch. 122, par. 32-5.10)
Sec. 32-5.10. 
		Assumption of indebtedness of city for school purposes.
Whenever any city is by special law made a school district, or whenever
any school district created by special law is coterminous with any city,
the directors of the district may, at the request of the city council,
assume and provide for, by borrowing and taxation, any indebtedness created
by the authorities of the city for school purposes.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-6.1) (from Ch. 122, par. 32-6.1)
Sec. 32-6.1. 
		Territory disconnected from city or village.
Whenever the territorial limits of any special charter district governed
by any or all of the provisions of the special charter coincide with the
territorial limits of (1) any township which is wholly surrounded by any
school district, and (2) any city, town, or village from which any land has
been heretofore or is hereafter disconnected under the provisions of
Section 7-3-6 of the Illinois Municipal Code, as heretofore and hereafter
amended, as the territorial limits of such city, town or village existed
immediately prior to such disconnection, the land disconnected from such
city, town or village shall also be deemed to be disconnected from such
school district and annexed to a school district in the township it
adjoins.
(Source: Laws 1963, p. 923.)
(105 ILCS 5/32-6.2) (from Ch. 122, par. 32-6.2)
Sec. 32-6.2. 
		Bonded indebtedness. 
		
		The disconnection of any land under Section 32-6.1 shall not exempt it
from taxation for the purpose of paying any bonded indebtedness contracted
prior to the disconnection, but such land shall be assessed and taxed for
this purpose until such indebtedness is completely paid, the same as though
not disconnected. After the disconnection the county clerk of the county in
which such land is situated shall not include such land within the limits
of such school district for any purpose, except as stated herein, but shall
include it within the adjoining district.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-7) (from Ch. 122, par. 32-7)
Sec. 32-7. 
		Form of bond. 
		The form of bond to be given by any treasurer who
has the custody of funds belonging to any special charter district shall be
substantially in the following form:
We, (AB), principal, and (CD and EF), sureties, all of the County of .... and
State of Illinois, are obligated to the People of the State of Illinois, for
the use of the .... (name of school district) in the penal sum of $...., for
the payment of which to be made, we obligate ourselves, and each of us, our
heirs, executors, administrators, successors, and assigns.
Dated (insert date).
The condition of the above bond is that if the above obligated (AB)
shall perform all the duties which are, or may be required by law to be
performed by him as treasurer of the school district in the time and
manner prescribed, or to be prescribed by law, and when he shall be
succeeded in office and surrender and deliver over to his successor in
office all books, papers, moneys, and other things belonging to the
school district and pertaining to his office, then the above bond to
be void; otherwise, to remain in full force.
It is expressly understood and intended that the obligation of the above
named sureties shall not extend to any loss sustained by the insolvency,
failure, or closing of any bank or savings and loan association organized
and operating either under the
laws of the State of Illinois or the United States wherein such treasurer
has placed the funds in his custody or control, or any part thereof,
provided, such depository has been approved by the (board of education,
board of school inspectors or other governing body of the particular
district) of the .... (name of district).
A B ....
C D ....
E F ....
(Source: P.A. 91-357, eff. 7-29-99.)
(105 ILCS 5/32-7.1) (from Ch. 122, par. 32-7.1)
Sec. 32-7.1. 
		Amount of bond. 
		
		The amount of the bond prescribed by Section 32-7 shall be fixed by the
governing body of the district but shall not be less than 1/10 of the
maximum amount of all moneys which came into the hands or control of such
treasurer or his predecessors during any fiscal year in the preceding 5
years nor less than 1 1/2 times the largest amount estimated by such
governing body will be in his hands or control at any one time if
individuals act as sureties nor less than the largest amount estimated by
such governing body will be in his hands or control at any one time if the
surety is a surety company authorized to do business in this State.
(Source: Laws 1961, p. 31.)
(105 ILCS 5/32-7.2) (from Ch. 122, par. 32-7.2)
Sec. 32-7.2. 
		Teachers' orders. 
		The school treasurer of any special
charter district having a population of less than 500,000 shall pay out no
funds of the district except on an order of the corporate authorities
thereof, signed by the president and clerk, or by a majority of the board.
When an order issued for the wages of any teacher or employee of such
district is presented to the treasurer and is not paid for want of funds,
the treasurer shall endorse it over his signature "not paid for want of
funds", with the date of presentation, and shall make and keep a record of
such endorsement. The order shall thereafter bear interest at the rate
established by the school board of the district, payable annually, not
exceeding the rate authorized from time to time under the Bond
Authorization Act until the treasurer of such district notifies the clerk
in writing that he has funds to pay it, and the treasurer shall keep a
record of such notices and hold the funds necessary to pay such order until
it is presented. The order shall draw no interest after notice
is given to the clerk.  Orders presented within 10 days after the notice
is mailed to the clerk shall be payable in the numerical order of their
issuance.
(Source: P.A. 86-715; 86-1161.)
(105 ILCS 5/32-7.3) (from Ch. 122, par. 32-7.3)
Sec. 32-7.3. Depositaries. The governing body of any special charter district, when requested by
the treasurer or custodian of the funds of the district, shall designate
one or more banks or savings and loan associations in which the funds
in the custody of the
treasurer or custodian may be kept. A bank or savings and loan association
designated as a depositary shall
continue as such until 10 days have elapsed after a new depositary is
designated and has qualified by furnishing the statements of resources and
liabilities as is required by this Section. When a new depositary is
designated, the board of education or other governing body shall notify the
sureties of the treasurer or custodian of that fact, in writing, at least 5
days before the transfer of funds. The treasurer or custodian shall be
discharged from responsibility for all funds which he deposits in a
depositary so designated while such funds are so deposited.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of the Public Funds Investment Act.
(Source: P.A. 100-863, eff. 8-14-18.)