(65 ILCS 5/8-12-14) (from Ch. 24, par. 8-12-14)
Sec. 8-12-14.
The Budget of the financially distressed city for its
first fiscal year commencing after this Division first becomes applicable
to the financially distressed city as provided in Section 8-12-4, and for
each subsequent fiscal year shall be balanced in accordance with such
accounting system and procedures as may be prescribed by the Authority and
the requirements of State law, with substantial progress toward balancing
the Budget to be achieved during the remaining portion of what is the
financially distressed city's current fiscal year at the time this Division
first becomes applicable to the city as provided in Section 8-12-4.
(Source: P.A. 86-1211.)
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