(55 ILCS 5/6-2005) (from Ch. 34, par. 6-2005)
Sec. 6-2005.
Certificate of County Treasurer endorsed on notes.
Whenever satisfactory showings as prescribed by this Division shall have
been filed with the County Treasurer he shall examine the same and if found
to be in compliance with this Division he shall endorse on the back of each
note his certificate of authenticity which certificate shall set forth:
(a) The value of taxable property of the municipality as last equalized
by the Tax Commission.
(b) The amount of the levy from the proceeds of which such note is
payable and the rate limit if any on the amount of such levy.
(c) The amount of anticipatory obligations theretofore issued and
payable out of such taxes and the amount of the issue of which such note is
one.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-2006) (from Ch. 34, par. 6-2006)
Sec. 6-2006.
Registry of notes.
The County Treasurer shall keep a
registry of each series of notes so issued, together with a copy thereof.
For such authentication the County Treasurer shall be paid by the
municipality a fee of $1 for each note so authenticated, but the minimum
fee for any issue of notes shall be $10.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-2007) (from Ch. 34, par. 6-2007)
Sec. 6-2007.
Limitations.
Anticipatory obligations issued against
taxes levied for any purpose shall not be in excess of 85% of such taxes
extended or to be extended, computed upon the then last equalized valuation
determined by the Department of Revenue of the State of Illinois.
In any county in which there shall have been created a working cash fund
pursuant to the provisions of Division 6-27, notes shall at no time
be issued in anticipation of the collection of taxes levied for general
corporate purposes for any year, under the provisions of this Division, for
such an amount that the aggregate of (a) the amount of such notes, and the
interest to accrue thereon, (b) the aggregate of such notes theretofore
issued in anticipation of the collection of such taxes for such year, and
the interest accrued and to accrue thereon, (c) the aggregate amount of
warrants theretofore drawn in anticipation of the collection of such taxes
for such year, and the interest accrued and to accrue thereon, under the
provisions of "An Act of the Constitution of the State of Illinois to
provide for the manner of issuing warrants upon the treasurer of the State
or of any county, township, city, village or other municipal corporation
and jurors' certificates," approved June 27, 1913, as amended, and (d) the
aggregate amount of money theretofore transferred from the working cash
fund of such county to the general corporate fund thereof, shall exceed
ninety (90) per centum of the actual or estimated amount of such taxes
extended or to be extended by the county clerk upon the books of the
collector or collectors of State and county taxes within such county.
(Source: P.A. 86-962.)
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(55 ILCS 5/6-2008) (from Ch. 34, par. 6-2008)
Sec. 6-2008.
Transmittal of funds for payment.
It is hereby made the
duty of the County Treasurer authenticating any note issued under the
provisions of this Division as and when taxes so anticipated are received
by him to promptly transmit to the bank designated in the notes as the
place of payment, funds sufficient to pay principal and interest on notes
issued under this Division or if the notes are payable at his office to pay
the same as provided in this Division.
(Source: P.A. 86-962.)
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