(105 ILCS 5/18-1) (from Ch. 122, par. 18-1)
Sec. 18-1.
Moneys
constituting fund.
The common school fund of the state shall consist of any sums accredited
thereto in pursuance of law, of the interest on the school fund proper,
which fund is 3% upon the proceeds of the sales of public lands in the
State, 1/6 part excepted; and the interest on the surplus revenue
distributed by Act of Congress and made part of the common school fund by
Act of the legislature, March 4, 1837. The interest on the school fund
proper and the surplus revenue shall be paid by the State annually at the
rate of 6%, and shall be distributed as provided by law.
(Source: Laws 1961, p. 31.)
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