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Public Act 92-0167
HB1905 Enrolled LRB9206267NTcd
AN ACT concerning higher education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Public Community College Act is amended
by changing Section 3-19 as follows:
(110 ILCS 805/3-19) (from Ch. 122, par. 103-19)
Sec. 3-19. Before entering upon his duties, each
treasurer shall execute a bond with 2 or more persons having
an interest in real estate who are not members of the board
of the district, or with a surety company authorized to do
business in this State, as sureties, payable to the board of
the community college district for which he is treasurer and
conditioned upon the faithful discharge of his duties. Except
for the bond of the treasurer of a community college district
in a city having a population of 500,000 or more inhabitants,
the penalty of the bond shall be 25% of the amount of all
bonds, notes, mortgages, moneys, and effects of which the
treasurer is to have custody, whether individuals act as
surety or whether the surety is given by a surety authorized
to do business in this State. However, the penalty of the
bond of the treasurer of a community college district in a
city having a population of 500,000 or more inhabitants shall
be at least twice the amount of all bonds, notes, mortgages,
moneys and effects of which he is to have the custody, if
individuals act as sureties, or in the amount only of such
bonds, notes, mortgages, moneys and effects if the surety
given is by a surety company authorized to do business in
this State. In all community college districts, the penalty
of the bond of the treasurer , and shall be increased or
decreased from time to time, as the increase or decrease of
the amount of notes, bonds, mortgages, moneys and effects may
require, and whenever in the judgment of the State board the
penalty of the bond should be increased or decreased. The
bond must be approved by at least a majority of the board of
the community college district and filed with the State
Board. A copy of the bond must also be filed with the county
clerk of each county in which any part of the community
college district is situated. The bond shall be in
substantially the following form:
STATE OF ILLINOIS)
) SS.
.......... COUNTY)
We, .... and .... are obligated, jointly and severally,
to the Board of Community College District No. ...., County
(or Counties) of .... and State of Illinois in the penal sum
of $...., for the payment of which we obligate ourselves, our
heirs, executors and administrators.
Dated (insert date).
The condition of this obligation is such that if ....,
treasurer in the district above stated, faithfully discharges
the duties of his or her office, according to law, and
delivers to his or her successor in office, after that
successor has qualified by giving bond as provided by law,
all moneys, books, papers, securities and property, which
shall come into his or her possession or control, as such
treasurer, from the date of his or her bond to the time that
his or her successor has qualified as treasurer, by giving
such bond as is required by law, then this obligation to be
void; otherwise to remain in full force and effect.
Signed:.....................
............................
............................
............................
Approved and accepted by Board of Community College
District No. .... County (or Counties) of .... and State of
Illinois. By .... Chairman .... Secretary
No part of any State or other district funds may be paid
to any treasurer or other persons authorized to receive it
unless the treasurer has filed his or her bond as required
herein.
(Source: P.A. 91-357, eff. 7-29-99.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly May 03, 2001.
Approved July 26, 2001.
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