State of Illinois
91st General Assembly
Legislation

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91_HB1729eng

 
HB1729 Engrossed                               LRB9104013NTks

 1        AN ACT to amend  the  Public  Community  College  Act  by
 2    changing Section 3-19.

 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:

 5        Section 5.  The Public Community College Act  is  amended
 6    by changing Section 3-19 as follows:

 7        (110 ILCS 805/3-19) (from Ch. 122, par. 103-19)
 8        Sec.   3-19.   Before  entering  upon  his  duties,  each
 9    treasurer shall execute a bond with 2 or more persons  having
10    an  interest  in real estate who are not members of the board
11    of the district, or with a surety company  authorized  to  do
12    business  in this State, as sureties, payable to the board of
13    the community college district for which he is treasurer  and
14    conditioned upon the faithful discharge of his duties. Except
15    for the bond of the treasurer of a community college district
16    in a city having a population of 500,000 or more inhabitants,
17    the  penalty  of  the  bond shall be 25% of the amount of all
18    bonds, notes, mortgages, moneys, and  effects  of  which  the
19    treasurer  is  to  have  custody,  whether individuals act as
20    surety or whether the surety is given by a surety  authorized
21    to  do  business  in this State.  However, the penalty of the
22    bond of the treasurer of a community college  district  in  a
23    city having a population of 500,000 or more inhabitants shall
24    be  at least twice the amount of all bonds, notes, mortgages,
25    moneys and effects of which he is to  have  the  custody,  if
26    individuals  act  as  sureties, or in the amount only of such
27    bonds, notes, mortgages, moneys and  effects  if  the  surety
28    given  is  by  a  surety company authorized to do business in
29    this State.  In all community college districts, the  penalty
30    of  the  bond  of  the  treasurer,  and shall be increased or
31    decreased from time to time, as the increase or  decrease  of
 
HB1729 Engrossed            -2-                LRB9104013NTks
 1    the amount of notes, bonds, mortgages, moneys and effects may
 2    require,  and whenever in the judgment of the State board the
 3    penalty of the bond should be  increased  or  decreased.  The
 4    bond  must be approved by at least a majority of the board of
 5    the community college  district  and  filed  with  the  State
 6    Board.  A copy of the bond must also be filed with the county
 7    clerk  of  each  county  in  which  any part of the community
 8    college  district  is  situated.   The  bond  shall   be   in
 9    substantially the following form:
10    STATE OF ILLINOIS)
11                     ) SS.
12    .......... COUNTY)
13        We,  ....  and .... are obligated, jointly and severally,
14    to the Board of Community College District No.  ....,  County
15    (or  Counties) of .... and State of Illinois in the penal sum
16    of $...., for the payment of which we obligate ourselves, our
17    heirs, executors and administrators.
18        Dated (insert date). ............ 19..
19        The condition of this obligation is such  that  if  ....,
20    treasurer in the district above stated, faithfully discharges
21    the  duties  of  his  or  her  office,  according to law, and
22    delivers to his  or  her  successor  in  office,  after  that
23    successor  has  qualified  by giving bond as provided by law,
24    all moneys, books, papers,  securities  and  property,  which
25    shall  come  into  his  or her possession or control, as such
26    treasurer, from the date of his or her bond to the time  that
27    his  or  her  successor has qualified as treasurer, by giving
28    such bond as is required by law, then this obligation  to  be
29    void; otherwise to remain in full force and effect.
30                                     Signed:.....................
31                                     ............................
32                                     ............................
33                                     ............................
34        Approved  and  accepted  by  Board  of  Community College
 
HB1729 Engrossed            -3-                LRB9104013NTks
 1    District No. .... County (or Counties) of .... and  State  of
 2    Illinois. By .... Chairman   .... Secretary
 3        No  part of any State or other district funds may be paid
 4    to any treasurer or other persons authorized  to  receive  it
 5    unless  the  treasurer  has filed his or her bond as required
 6    herein.
 7    (Source: P.A. 84-1308; revised 10-20-98.)

 8        Section 99.  Effective date.  This Act takes effect  upon
 9    becoming law.

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