Public Act 103-0049
 
HB3523 EnrolledLRB103 29974 RJT 56393 b


  
    AN ACT concerning education.
  
 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:
  



 
 
    Section 5. The School Code is amended  by changing Sections 
8-2 and 19-6 as follows:
 



    (105 ILCS 5/8-2)  (from Ch. 122, par. 8-2)



    Sec. 8-2. Bond of treasurer. Before entering upon his 
duties, each school
treasurer shall execute a bond with 2 or 
more persons having an interest
in real estate who are not 
trustees, or a surety company authorized to do
business in 
this State, as sureties, payable to the township trustees of

schools in Class II county school units and to the school board 
of each
district for which he or she is treasurer or its 
successors in office in
Class I county school units and 
conditioned upon the faithful discharge of
his or her duties, 
except that the bond required of the school treasurer of
a 
school district which is located in a Class II county school 
unit but
which no longer is subject to the jurisdiction and 
authority of a township
treasurer or trustees of schools of a 
township because the district has
withdrawn from the 
jurisdiction and authority of the township treasurer and

trustees of schools of the township or because those offices 
have been
abolished as provided in subsection (b) or (c) of 
Section 5-1 shall be
payable to the school board of each 
district for which he or she is
treasurer or its successor in 
office and conditioned upon the faithful
discharge of his or 
her duties. The penalty of the bond shall be determined by the 
school board in an amount no less than 10% 25%
of the amount of 
all bonds, notes, mortgages, moneys and effects of
which he is 
to have the custody as measured on the final day of the school 
district's most recent fiscal year , whether individuals act as

sureties or whether the
surety given is by a surety company 
authorized to do business in this
State, and shall be 
increased or decreased from time to time, as the
increase or 
decrease of the amount of notes, bonds, mortgages, moneys and

effects may require, and whenever in the judgment of the 
regional
superintendent of schools, or whenever in the 
judgment of the township
trustees or the school board of the 
district by which the school treasurer
was appointed or 
elected,  the penalty of the bond should be increased or

decreased; provided that the penalty of the bond shall not be 
increased to
more than 25% of the amount of all bonds, notes, 
mortgages, moneys and effects
of which the treasurer has 
custody at any time. The bond of the township
treasurer shall 
be approved by at least
a majority of the township trustees in 
Class II county school units;
provided that in those school 
districts that are located in a Class II
county school unit but 
are no longer subject to the jurisdiction and
authority of a 
township treasurer and trustees of schools of a township

(because the districts have withdrawn from the jurisdiction 
and authority
of the township treasurer and trustees of 
schools of the township or
because those offices have been 
abolished as provided in subsection (b) or
(c) of Section 5-1) 
and in Class I county school units, the bond shall be
approved 
by at least a majority of the members of the school board; and 
in
all cases the bond shall be filed with the regional 
superintendent of
schools who shall file with the State Board 
of Education before September 1
in each year an affidavit 
showing which treasurers of school districts
under his 
supervision and control are properly bonded. The bond shall be 
in
the following form:

STATE OF ILLINOIS

.......... COUNTY

    We, AB, CD and EF, are obligated, jointly and severally, 
to the
(School Board of District No. ...., or trustees of 
township .... range ....)
in the above mentioned county or 
successors in office, in the penal sum of
$...., for the 
payment of which we bind ourselves, our heirs, executors and

administrators.

    Dated (insert date).

    The condition of this obligation is such that if
AB, 
school treasurer in the above stated county, faithfully 
discharges
the duties of his or her office, according to law, 
and delivers to his or her
successor in office, after such 
successor has qualified by giving
bond as provided by law, all 
moneys, books, papers, securities and control,
which have come 
into his or her possession or control, as such school

treasurer, from the date of his or her bond to the time that 
his or her
successor has qualified as school treasurer, by 
giving such bond as
required by law, then this obligation to be 
void; otherwise to remain
in full force and effect.

    Approved and accepted by:

        A.... B.... (Signature)

        C.... D.... (Signature)

        E.... F.... (Signature)

        G.... H.... (Signature)

        I.... J.... (Signature)

        K.... L.... (Signature)

(Board of Education or Board of


Directors of District No. .....


By ....


President Secretary or Clerk


or ....


.... Township Trustees)


    No part of the State or other school fund shall be paid to 
any school
treasurer or other persons authorized to receive it 
unless such
treasurer has filed his or her bond, or if 
reelected, has renewed his or her
bond and filed it as required 
by law.

(Source: P.A. 91-357, eff. 7-29-99.)

 



    (105 ILCS 5/19-6)  (from Ch. 122, par. 19-6)



    Sec. 19-6. 
Bond money to school treasurer - Delivery of 
bonds - Record -
Payment. All moneys borrowed under the 
authority of this Act, except money
borrowed by school 
districts having a population of more than 500,000

inhabitants, shall be paid to the school treasurer of the 
district. The
treasurer shall, before receiving any of the 
money, execute a bond with
two or more persons having an 
interest in real estate, who shall not be
trustees, or a surety 
company authorized to do business in this State, as
surety, 
payable to the school board of the district in Class I county

school units or township trustees in Class II county school 
units and
conditioned upon the faithful discharge of his 
duties, except that the bond
required of the school treasurer 
of a school district which is located in a
Class II county 
school unit but which no longer is subject to the
jurisdiction 
and authority of a township treasurer or trustees of schools

of a township because the district has withdrawn from the 
jurisdiction and
authority of the township treasurer and 
trustees of schools of the township
or because those offices 
have been abolished as provided in subsection (b)
or (c) of 
Section 5-1 shall be payable to the school board of such 
district
and conditioned upon the faithful discharge of his 
duties.  The bond shall
be submitted for approval or rejection 
to the school board of the district
or to the township trustees 
to which such bond is payable. The penalty of
the bond or bonds 
shall be an amount no less than 10% 25% of the amount of such

bond issue, whether
individuals act as surety or whether the

surety is given by a surety company authorized to transact 
business in this
State. The bond shall be in substantially the 
same form as that required by
Section 8-2 of this Act and when 
so given shall fully describe the bond
issue which it 
specifically covers and shall remain in force until the
funds 
of the bond issue are taken into account in determining the 
penalty amount for the surety bond required by Section 8-2 of 
this Code fully disbursed in accordance with the law.
Upon 
receiving such moneys the treasurer shall deliver the bonds 
issued
therefor to the persons entitled to receive them, and 
shall credit the
funds received to the district issuing the 
bonds. The treasurer shall
record the amount received for each 
bond issued. When any bonds are paid
the treasurer shall 
cancel them and shall enter, against the record of the
bonds, 
the words, "paid and cancelled the .... day of ...., 1 ....,"

filling the blanks with the day, month, and year corresponding 
to the date
of payment.

(Source: P.A. 89-212, eff. 8-4-95.)

 
 
    Section 99. Effective date. This Act takes effect upon 
becoming law. 
  

Effective Date:  6/9/2023