Sec. 5-34. Evidence of indebtedness not in proper form-Securities insufficient- Action taken.
184 words·~1 min read·
/il/chapter-105/act-5/5-34A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5-34. Evidence of indebtedness not in proper form-Securities insufficient- Action taken.
When any county superintendent of schools notifies the trustees of schools of a township, in writing, that the notes, bonds, mortgages or other evidences of indebtedness which have been taken officially by the township treasurer are not in proper form, or that securities which he has taken are insufficient, the trustees shall at once take such action as may be necessary to protect the property or fund of the township and the district. For a failure or refusal to take such action within 20 days after such notice the trustees of schools, each in his individual capacity, shall be guilty of a petty offense and shall be liable to a fine of not less than twenty-five nor more than one hundred dollars, to be recovered before any circuit court, which when collected shall be paid to the county superintendent of the proper county for the use of the schools.
The payment of this fine shall not relieve the trustees from any civil liability they may have incurred from such neglect of duty.