(105 ILCS 5/20-3)
(from Ch. 122, par. 20-3)
Sec. 20-3. Tax levy. For the purpose of providing moneys for a
working cash fund, the school board of any such school district may also
levy annually upon all the taxable property of their district a tax,
known as the "working cash fund tax," not to exceed 0.05% of
value, as
equalized or assessed by the Department of Revenue;
provided that no such tax shall be levied if bonds are issued in
amount or amounts equal in the aggregate to the limitation set forth in
Section 20-2 for the creation, re-creation, or increase of a working cash fund. The collection of the tax
shall not be anticipated by the issuance of any warrants drawn against
it. The tax shall be levied and collected, except as otherwise provided
in this Section, in like manner as the general taxes of the district,
and shall be in addition to the maximum of all other taxes, either
educational; transportation; operations and maintenance; or fire
prevention and safety fund taxes, now or hereafter to be levied for school
purposes. It may be levied by separate resolution by the last Tuesday in
December in each year or it may be included in the certificate of tax levy
filed under Section 17-11.
(Source: P.A. 96-1277, eff. 7-26-10.)
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