(105 ILCS 5/11C-7) (from Ch. 122, par. 11C-7)
Sec. 11C-7.
Credited appraised value of property and funds.
Each district
which is created so as to include a part of another district shall be credited
with the appraised value of the property and of the funds described in Sections
11C-4 and 11C-5 of this Act, less the unfunded indebtedness described in
Section 11C-6 of this Act, in the proportion which the number of children
in average daily attendance for the last full school year preceding the
filing of the petition from
the part of the district so included bears to the total number of children
in average daily attendance from such district for such period, and the
balance shall be credited
to the district from which territory is taken.
(Source: P.A. 83-686.)
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(105 ILCS 5/11C-8) (from Ch. 122, par. 11C-8)
Sec. 11C-8.
Reports.
The regional superintendent is hereby
given the power to require reports from the treasurer or any other officer
of the district from which territory is taken to give it any information
necessary for it to perform its functions hereunder and to require from time to time
transfers of funds from one treasurer to another, or if the districts have
a common treasurer from the funds held by such treasurer for one district
to the funds held by such treasurer for the other district as may be necessary
to give effect to the accounting herein provided for.
(Source: P.A. 83-686.)
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