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.
(105 ILCS 5/1B-2) (from Ch. 122, par. 1B-2)
Sec. 1B-2.
Findings and purpose.
(a) The General Assembly finds:
(1) A fundamental goal of the people of the State, as |
| expressed in Section 1 of Article X of the Illinois Constitution, is the educational development of all persons to the limits of their capacities. When a board of education faces financial difficulties, continued operation of the public school system is threatened.
|
|
(2) A sound financial structure is essential to the
|
| continued operation of any school system. It is vital to commercial, educational and cultural interests that the public schools remain in operation. To achieve that goal, public school systems must have effective access to the private market to borrow short and long term funds.
|
|
(3) To promote the financial integrity of boards of
|
| education of school districts with a population of less than 500,000, it is necessary to provide for emergency State financial assistance and the creation of financial oversight panels with the powers necessary to promote sound financial management to assure the continued availability of educational opportunities.
|
|
(b) It is the purpose of this Article to provide
financial oversight panels and emergency State financial assistance to
school districts and
establish a secure financial basis for their continued
existence. The intention of the General Assembly, in
enacting this legislation, is
to establish procedures, provide powers and impose
restrictions to assure the financial and educational
integrity of the public schools while leaving principal
responsibility for the educational policies of the public
schools to the boards of education within the State,
consistent with the requirements for satisfying the public
policy and purpose herein set forth.
(Source: P.A. 88-618, eff. 9-9-94.)
|
