Sec. 11E-85. Tax levy and borrowing authority, bonds, and working cash funds; districts other than partial elementary unit districts.
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/il/chapter-105/act-5/11e-85A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 11E-85. Tax levy and borrowing authority, bonds, and working cash funds; districts other than partial elementary unit districts. The school board of any district involved in a school district conversion or the school board of any new district created under the provisions of this Article other than a partial elementary unit district may do any of the following:
(1)Levy for the purposes and at not exceeding the rates specified in the petition with
respect to each district, which rates thereafter may be increased or decreased in accordance with Sections 17-2 through 17-7 of this Code, and further levy taxes for other purposes as generally permitted by law.
(2)Borrow money and issue bonds as authorized in Articles 10 and 19 of this Code and as
otherwise permitted by law.
(3)Establish, maintain, or re-create a working cash fund as authorized by Article 20 of
this Code.