Illinois Statutes Chapter 105. Schools § 5/17-6.1. Educational purposes and operations, building and maintenance purposes concurrent equal increase and decrease in maximum authorized tax rate

§ 17-6.1. Educational purposes and operations, building and maintenance purposes concurrent equal increase and decrease in maximum authorized tax rate. (a) The school board of any school district having a population of less than 500,000 inhabitants may, by proper resolution, cause to be submitted to the voters of the school district at a regular scheduled election the proposition of whether the maximum authorized annual tax rate for either educational purposes or operations, building and maintenance purposes may be increased with an equal corresponding tax rate decrease being effected in the maximum authorized tax rate for the other fund.

(b) The proposition shall be in substantially the following form:

Shall the maximum authorized annual tax rate for ․․․․․․․․․․ purposes of School District Number ․․․, ․․․․․․․․․․ County, Illinois (commonly known as ․․․․․․․․․․) be increased from ․․․% to ․․․% and the maximum authorized annual tax rate for ․․․․․․․․․․ purposes be decreased concurrently from ․․․% to ․․․%?

(c) The rate amount of the proposed tax rate decrease must be the same as the rate amount of the proposed tax rate increase. No maximum tax rate secured hereunder may exceed the maximum rate specified for the particular fund in Section 17-3 and 17-5.

(d) The requirements of Section 17-3.4 shall not apply to the proposition provided for in this Section.

(e) If at the election a majority of the votes cast on the proposition is in favor thereof, the school board may thereafter annually levy the taxes as authorized.