Illinois § 5-31016 Indebtedness

Illinois Statutes

§ 5-31016 — Indebtedness

Illinois § 5-31016

JurisdictionIllinois

TopicGOVERNMENT

Ch. 55COUNTIES

Act 55 ILCS 5/Counties Code.

Art.Article 5 - Powers And Duties Of County Boards

This text of Illinois § 5-31016 (Indebtedness) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

55 Ill. Comp. Stat. 5-31016 (2026).

Text

Whenever a museum district does not have sufficient money in its treasury to meet all necessary expenses and liabilities, it may issue tax anticipation warrants. Such issue of tax anticipation warrants shall be subject to the provisions of Section 2 of the Warrants and Jurors Certificates Act. No museum district shall become indebted in any manner or for any purpose in an amount, including existing indebtedness, in the aggregate exceeding .25% of the value, as equalized or assessed by the Department of Revenue, of the taxable property within the museum district.

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Whenever a museum district does not have sufficient money in its treasury to meet all necessary expenses and liabilities, it may issue tax anticipation warrants. Such issue of tax anticipation warrants shall be subject to the provisions of Section 2 of the Warrants and Jurors Certificates Act. No museum district shall become indebted in any manner or for any purpose in an amount, including existing indebtedness, in the aggregate exceeding .25% of the value, as equalized or assessed by the Department of Revenue, of the taxable property within the museum district.