(65 ILCS 97/30)
(a) Each governing commission and program created by referendum under this
Act shall maintain a security fund for the purposes of paying the costs of
administering the program and carrying out its duties under this Act, subject
to the limitations and procedures set forth in this Act.
(b) The security fund shall be raised by means of an annual tax levied
on all property within the territory of the program. The rate of this tax may
be changed from year to year by majority vote of the governing commission but
in no case shall it exceed a rate of 0.41% of the equalized assessed valuation
of all property in the territory of the program, or the maximum tax rate
approved by the voters of the territory. The commissioners shall cause the
amount to be raised by taxation in each year to be certified to the county
clerk in the manner provided by law, and any tax so levied and certified shall
be collected and enforced in the same manner and by the same officers as those
taxes for the purposes of the county and city within which the territory of the
commission is located. Any such tax, when collected, shall be paid over to the
proper officer of the commission who is authorized to receive and receipt for
such tax. The governing commission may issue tax anticipation warrants against
the taxes to be assessed for the calendar year in which the program is created
and for the first full calendar year after the creation of the program.
(c) Wherever the question of increasing the annual tax levy on all property
within the territory is initiated by a petition signed by not less than 10% of
the total number of registered voters of each precinct in the territory, the
registered voters of which are eligible to sign the petition, it shall be the
duty of the election authority having jurisdiction over the municipality to
submit the question of increasing the annual tax on all property within the
territory to the electors of each precinct within the territory at the regular
election specified in the petition initiating the question. A petition
initiating a question described in this Section shall be filed with the
election authority having jurisdiction over the municipality. The petition
shall be filed and objections thereto shall be made in the manner provided in
the general election law. A petition initiating a question described in this
Section shall specify the election at which the question is to be submitted.
The referendum or such question shall be held in accordance with general
election law. The question, and the petition initiating the question, shall
include the maximum rate at which the neighborhood security patrol program
shall be able to levy a property tax.
(d) The moneys deposited in the security fund shall, as nearly as
practicable, be fully and continuously invested or reinvested by the
governing commission in investment obligations which shall be in such
amounts, and shall mature at such times, that the maturity or date of
redemption at the option of the holder of such investment obligations shall
coincide, as nearly as practicable, with the times at which moneys will be
required for the purposes of the program. As used in this
Section, "investment obligation" means direct general municipal, State,
or federal obligations which at the time are legal investments under the
laws of this State and the payment of principal of and interest on which
are unconditionally guaranteed by the governing body issuing them.
(e) The security fund shall be used solely and exclusively for the
purposes of the program and for reasonable salaries, expenses, bills, and fees
incurred in administering the program, and shall be used for no other purpose.
(f) The security fund shall be maintained, invested, and expended
exclusively by the governing commission of the program for whose purposes
it was created. Under no circumstance shall the security fund be used by
any person or persons, governmental body, or public or private agency or
concern other than the governing commission of the program for whose
purposes it was created. Under no circumstances shall the security fund be
commingled with other funds or investments.
(g) No commissioner or family member of a commissioner may receive any
financial benefit, either directly or indirectly, from the security
fund. Nothing in this subsection shall be construed to prohibit payment of
expenses to a commissioner in accordance with Section 15.
As used in this subsection, "family member" means a spouse, child,
stepchild, parent, brother, or sister of a commissioner or a child,
stepchild, parent, brother, or sister of a commissioner's spouse.
(h) An independent audit of the security fund and the management of the
program shall be conducted annually and made available to the public
through any office of the governing commission or a public facility such as
a local public library located within the territory of the program.
(Source: P.A. 88-439.)