Illinois Compiled Statutes 105 ILCS 5 School Code. Section 11E-85

    (105 ILCS 5/11E-85)

    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.

(Source: P.A. 94-1019, eff. 7-10-06.)

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Last modified: February 18, 2015