(65 ILCS 5/9-1-10) (from Ch. 24, par. 9-1-10)
Sec. 9-1-10.
Whenever any municipality creates an unclaimed rebate fund and
by ordinance directs the use of the money in that fund for the purpose of
paying rebates or refunds due on any warrant for any special assessment or
special tax, the equivalent of any such money so used shall be returned to
the unclaimed rebate fund as soon as the warrants, which were deficient,
have been collected. Whenever any municipality directs the use of the money
in that fund for the purpose of paying unpaid special assessment vouchers
or special assessment bonds or special tax vouchers or interest or
deficiency in interest or public benefits in any warrant in which there is
a deficiency, the equivalent of any such money so used or any part thereof
shall be returned to the unclaimed rebate fund in the event there is
collected in the warrant any surplus in excess of the amount required to
pay the bonds and vouchers issued to anticipate such warrant. Whenever any
municipality directs the use of the money in the fund for the purpose of
purchasing any lot, block or tract or parcel of land, or any real estate at
any sale had to enforce the collection of special assessments or special
taxes, the proceeds of any redemption from such sale or from any sale of
the certificate or title acquired by such sale, to an amount equivalent to
any such money so used or any part thereof, shall be returned to the
unclaimed rebate fund.
(Source: Laws 1961, p. 576.)
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