Illinois Compiled Statutes
50 ILCS 430/3 (2026)
Each warrant issued under this Act may be made payable at the time fixed in the warrant and shall bear interest, payable only out of the taxes against which it is drawn, at a rate of interest specified in the warrant but not exceeding 7% if issued prior to January 1, 1972, and at the rate of not more than 8% if issued after January 1, 1972 and before November 12, 1981, and at a rate not to exceed the rate permitted in the Bond Authorization Act if issued on or after November 12, 1981, annually from the date of issuance until paid, or until notice is given by publication in a newspaper or otherwise, that the money for its payment is available, and that it will be paid on presentation
✓ laws through the 2026 session (checked Sept. 2026)
Find cases:
SyfertCases citing this section
IL-ILGAilga.gov
JustiaChapter on Justia
CornellLII Search
CasesGoogle Scholar
(50 ILCS 430/3)
(from Ch. 146 1/2, par. 3) Sec. 3. Each warrant issued under this Act may be made payable at the time fixed in the warrant and shall bear interest, payable only out of the taxes against which it is drawn, at a rate of interest specified in the warrant but not exceeding 7% if issued prior to January 1, 1972, and at the rate of not more than 8% if issued after January 1, 1972 and before November 12, 1981, and at a rate not to exceed the rate permitted in the Bond Authorization Act if issued on or after November 12, 1981, annually from the date of issuance until paid, or until notice is given by publication in a newspaper or otherwise, that the money for its payment is available, and that it will be paid on presentation. All jurors' certificates shall be issued in conformity with this Act. This Act does not apply to school districts, cities, villages, or incorporated towns. For the purposes of this Section, "prime commercial rate" means such prime rate as from time to time is publicly announced by the largest commercial banking institution located in this State, as measured by total assets.(Source: P.A. 104-417, eff. 8-15-25.)Notes of Decisions
Cited in 1
case, 2019–2019 · leading case: Lavite v. Dunstan, 2018 IL App (5th) 170114.
Lavite v. Dunstan, 2018 IL App (5th) 170114. “04, and the defendants are ordered to pay that sum, plus the interest due under 50 ILCS 430/3 (West 2016). We pause briefly to acknowledge that there are fair questions about whether the VAC’s demand for payment of this expense was shortsighted or lacked discernment.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.