(105 ILCS 5/32-7)
(from Ch. 122, par. 32-7)
Form of bond.
The form of bond to be given by any treasurer who
has the custody of funds belonging to any special charter district shall be
substantially in the following form:
We, (AB), principal, and (CD and EF), sureties, all of the County of .... and
State of Illinois, are obligated to the People of the State of Illinois, for
the use of the .... (name of school district) in the penal sum of $...., for
the payment of which to be made, we obligate ourselves, and each of us, our
heirs, executors, administrators, successors, and assigns.
Dated (insert date).
The condition of the above bond is that if the above obligated (AB)
shall perform all the duties which are, or may be required by law to be
performed by him as treasurer of the school district in the time and
manner prescribed, or to be prescribed by law, and when he shall be
succeeded in office and surrender and deliver over to his successor in
office all books, papers, moneys, and other things belonging to the
school district and pertaining to his office, then the above bond to
be void; otherwise, to remain in full force.
It is expressly understood and intended that the obligation of the above
named sureties shall not extend to any loss sustained by the insolvency,
failure, or closing of any bank or savings and loan association organized
and operating either under the
laws of the State of Illinois or the United States wherein such treasurer
has placed the funds in his custody or control, or any part thereof,
provided, such depository has been approved by the (board of education,
board of school inspectors or other governing body of the particular
district) of the .... (name of district).
A B ....
C D ....
E F ....
(Source: P.A. 91-357, eff. 7-29-99.)