Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process.
Recent laws may not yet be included in the ILCS database, but they are found on this site as
Public
Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the
Guide.
Because the statute database is maintained primarily for legislative drafting purposes,
statutory changes are sometimes included in the statute database before they take effect.
If the source note at the end of a Section of the statutes includes a Public Act that has
not yet taken effect, the version of the law that is currently in effect may have already
been removed from the database and you should refer to that Public Act to see the changes
made to the current law.
(50 ILCS 460/65)
Sec. 65.
Rebates.
If, after final settlement with the contractor for any
improvements, there is any surplus remaining, the Board of Local Improvements
shall declare a surplus and rebate upon each lot, block, tract, or parcel of
land
assessed the pro rata proportion of that surplus. The Board of Local
Improvements shall state which specific assessment installments (including
interest thereon) are being reduced. If the Board of Local Improvements
determines these excess amounts have been collected for making, levying, and
collecting or for reserves for deficiencies, the governing body can declare a
surplus and credit such amount to each lot, block, tract, or parcel of land
assessed or a pro rata proportion to the next installment as a partial
reduction of
the payment due or, alternatively, may use such surplus to retire bonds in any
manner so determined.
(Source: P.A. 93-196, eff. 7-14-03.)
|