Sec. 20-90. Tax proceeds of taxing districts; escrow accounts.
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/il/chapter-35/act-200/20-90A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 20-90. Tax proceeds of taxing districts; escrow accounts. The county collector shall deposit any amount of the tax proceeds of any taxing district, in accordance with the authorization of that district, directly into a designated escrow account established by the district to repay specific bonded, note, lease or installment contract indebtedness. The ordinance or resolution of the taxing district authorizing that disposition shall, within 10 days after adoption by the governing authority of the taxing district, be delivered to the county collector or county collectors in which the taxing district is situated.