(105 ILCS 5/11C-5) (from Ch. 122, par. 11C-5)
Sec. 11C-5.
Debited school funds.
Each district from which territory
is taken shall be debited with all funds in the possession of its treasurer
and of all other funds to which the district may be entitled, including
taxes in process of collection.
(Source: P.A. 83-686.)
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(105 ILCS 5/11C-6) (from Ch. 122, par. 11C-6)
Sec. 11C-6. Credited unfunded indebtedness. Each district from which
territory is taken shall be credited with all unfunded indebtedness of such
district and with the estimated cost of operating the schools of the district
for the balance of the school year if the district from which territory
is taken continues to administer the schools until the succeeding July 1.
(Source: P.A. 94-1019, eff. 7-10-06.)
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(105 ILCS 5/11C-7) (from Ch. 122, par. 11C-7)
Sec. 11C-7.
Credited appraised value of property and funds.
Each district
which is created so as to include a part of another district shall be credited
with the appraised value of the property and of the funds described in Sections
11C-4 and 11C-5 of this Act, less the unfunded indebtedness described in
Section 11C-6 of this Act, in the proportion which the number of children
in average daily attendance for the last full school year preceding the
filing of the petition from
the part of the district so included bears to the total number of children
in average daily attendance from such district for such period, and the
balance shall be credited
to the district from which territory is taken.
(Source: P.A. 83-686.)
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(105 ILCS 5/11C-8) (from Ch. 122, par. 11C-8)
Sec. 11C-8.
Reports.
The regional superintendent is hereby
given the power to require reports from the treasurer or any other officer
of the district from which territory is taken to give it any information
necessary for it to perform its functions hereunder and to require from time to time
transfers of funds from one treasurer to another, or if the districts have
a common treasurer from the funds held by such treasurer for one district
to the funds held by such treasurer for the other district as may be necessary
to give effect to the accounting herein provided for.
(Source: P.A. 83-686.)
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(105 ILCS 5/11C-9) (from Ch. 122, par. 11C-9)
Sec. 11C-9. Accounting waived. If the stipulation is refused by the regional
superintendent the boards of the districts affected by the change in boundaries
in the creation of a new district may waive accounting or stipulate
as to the valuation of any kind or parcel of property or as to a basis for
apportionment by concurrent
resolution filed with the regional superintendent prior to or within
30 days after the election of the school board for the newly created district.
Such resolution shall be subject to the approval of the regional superintendent
and if approved, the accounting shall be dispensed with or modified as the
resolution may provide.
(Source: P.A. 94-1019, eff. 7-10-06.)
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(105 ILCS 5/Art. 11D heading) ARTICLE 11D.
SCHOOL DISTRICT CONVERSION
(Repealed) Source: Repealed by P.A. 94-1019, eff. 7-10-06.)
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