(105 ILCS 5/34-37)
(from Ch. 122, par. 34-37)
Abolishment of working cash funds.
The board may abolish
its working cash fund, upon the adoption of a resolution so providing, and
directing the transfer of any balance in such fund to the educational purposes
fund, effective upon the adoption of such resolution. Thereafter, all outstanding
taxes of such board levied pursuant to Section 34-57 of this Article shall
be collected and paid into the educational fund. Any obligation incurred
by such board pursuant to Section 34-31 of this Article shall be discharged
as therein provided. Nothing contained herein shall affect the validity
of any existing obligations of the board.
(Source: P.A. 81-1221.)