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Code · Illinois · Chapter 105 — SCHOOLS · Act 5

Sec. 10-22.33. Interfund loans.

133 words·~1 min read·/il/chapter-105/act-5/10-22-33

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Sec. 10-22.33. Interfund loans. To authorize the treasurer to make interfund loans from
(1)the operations and maintenance fund to the educational fund or fire prevention and safety fund, or
(2)from the educational fund to the operations and maintenance fund or fire prevention and safety fund, or
(3)from the operations and maintenance or educational fund to the transportation fund, or
(4)from the transportation fund to the operations and maintenance, educational, or fire prevention and safety fund and to make the necessary transfers on his books, but such loans shall be repaid and retransferred to the proper fund within 3 years. In case such repayment is not made within 3 years the regional superintendent shall withhold further payments on claims authorized by Article 18 of this Act until repayment is made.
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