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Rep. Emanuel Chris Welch
Filed: 5/21/2020
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| 1 | | AMENDMENT TO SENATE BILL 1937
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1937 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The School Code is amended by changing Section |
| 5 | | 19-1 as follows:
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| 6 | | (105 ILCS 5/19-1)
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| 7 | | Sec. 19-1. Debt limitations of school districts.
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| 8 | | (a) School districts shall not be subject to the provisions |
| 9 | | limiting their
indebtedness prescribed in the Local Government |
| 10 | | Debt Limitation Act.
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| 11 | | No school districts maintaining grades K through 8 or 9 |
| 12 | | through 12
shall become indebted in any manner or for any |
| 13 | | purpose to an amount,
including existing indebtedness, in the |
| 14 | | aggregate exceeding 6.9% on the
value of the taxable property |
| 15 | | therein to be ascertained by the last assessment
for State and |
| 16 | | county taxes or, until January 1, 1983, if greater, the sum |
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| 1 | | that
is produced by multiplying the school district's 1978 |
| 2 | | equalized assessed
valuation by the debt limitation percentage |
| 3 | | in effect on January 1, 1979,
previous to the incurring of such |
| 4 | | indebtedness.
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| 5 | | No school districts maintaining grades K through 12 shall |
| 6 | | become
indebted in any manner or for any purpose to an amount, |
| 7 | | including
existing indebtedness, in the aggregate exceeding |
| 8 | | 13.8% on the value of
the taxable property therein to be |
| 9 | | ascertained by the last assessment
for State and county taxes |
| 10 | | or, until January 1, 1983, if greater, the sum that
is produced |
| 11 | | by multiplying the school district's 1978 equalized assessed
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| 12 | | valuation by the debt limitation percentage in effect on |
| 13 | | January 1, 1979,
previous to the incurring of such |
| 14 | | indebtedness.
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| 15 | | No partial elementary unit district, as defined in Article |
| 16 | | 11E of this Code, shall become indebted in any manner or for |
| 17 | | any purpose in an amount, including existing indebtedness, in |
| 18 | | the aggregate exceeding 6.9% of the value of the taxable |
| 19 | | property of the entire district, to be ascertained by the last |
| 20 | | assessment for State and county taxes, plus an amount, |
| 21 | | including existing indebtedness, in the aggregate exceeding |
| 22 | | 6.9% of the value of the taxable property of that portion of |
| 23 | | the district included in the elementary and high school |
| 24 | | classification, to be ascertained by the last assessment for |
| 25 | | State and county taxes. Moreover, no partial elementary unit |
| 26 | | district, as defined in Article 11E of this Code, shall become |
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| 1 | | indebted on account of bonds issued by the district for high |
| 2 | | school purposes in the aggregate exceeding 6.9% of the value of |
| 3 | | the taxable property of the entire district, to be ascertained |
| 4 | | by the last assessment for State and county taxes, nor shall |
| 5 | | the district become indebted on account of bonds issued by the |
| 6 | | district for elementary purposes in the aggregate exceeding |
| 7 | | 6.9% of the value of the taxable property for that portion of |
| 8 | | the district included in the elementary and high school |
| 9 | | classification, to be ascertained by the last assessment for |
| 10 | | State and county taxes.
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| 11 | | Notwithstanding the provisions of any other law to the |
| 12 | | contrary, in any
case in which the voters of a school district |
| 13 | | have approved a proposition
for the issuance of bonds of such |
| 14 | | school district at an election held prior
to January 1, 1979, |
| 15 | | and all of the bonds approved at such election have
not been |
| 16 | | issued, the debt limitation applicable to such school district
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| 17 | | during the calendar year 1979 shall be computed by multiplying |
| 18 | | the value
of taxable property therein, including personal |
| 19 | | property, as ascertained
by the last assessment for State and |
| 20 | | county taxes, previous to the incurring
of such indebtedness, |
| 21 | | by the percentage limitation applicable to such school
district |
| 22 | | under the provisions of this subsection (a).
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| 23 | | (a-5) After January 1, 2018, no school district may issue |
| 24 | | bonds under Sections 19-2 through 19-7 of this Code and rely on |
| 25 | | an exception to the debt limitations in this Section unless it |
| 26 | | has complied with the requirements of Section 21 of the Bond |
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| 1 | | Issue Notification Act and the bonds have been approved by |
| 2 | | referendum. |
| 3 | | (b) Notwithstanding the debt limitation prescribed in |
| 4 | | subsection (a)
of this Section, additional indebtedness may be |
| 5 | | incurred in an amount
not to exceed the estimated cost of |
| 6 | | acquiring or improving school sites
or constructing and |
| 7 | | equipping additional building facilities under the
following |
| 8 | | conditions:
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| 9 | | (1) Whenever the enrollment of students for the next |
| 10 | | school year is
estimated by the board of education to |
| 11 | | increase over the actual present
enrollment by not less |
| 12 | | than 35% or by not less than 200 students or the
actual |
| 13 | | present enrollment of students has increased over the |
| 14 | | previous
school year by not less than 35% or by not less |
| 15 | | than 200 students and
the board of education determines |
| 16 | | that additional school sites or
building facilities are |
| 17 | | required as a result of such increase in
enrollment; and
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| 18 | | (2) When the Regional Superintendent of Schools having |
| 19 | | jurisdiction
over the school district and the State |
| 20 | | Superintendent of Education
concur in such enrollment |
| 21 | | projection or increase and approve the need
for such |
| 22 | | additional school sites or building facilities and the
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| 23 | | estimated cost thereof; and
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| 24 | | (3) When the voters in the school district approve a |
| 25 | | proposition for
the issuance of bonds for the purpose of |
| 26 | | acquiring or improving such
needed school sites or |
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| 1 | | constructing and equipping such needed additional
building |
| 2 | | facilities at an election called and held for that purpose.
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| 3 | | Notice of such an election shall state that the amount of |
| 4 | | indebtedness
proposed to be incurred would exceed the debt |
| 5 | | limitation otherwise
applicable to the school district. |
| 6 | | The ballot for such proposition
shall state what percentage |
| 7 | | of the equalized assessed valuation will be
outstanding in |
| 8 | | bonds if the proposed issuance of bonds is approved by
the |
| 9 | | voters; or
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| 10 | | (4) Notwithstanding the provisions of paragraphs (1) |
| 11 | | through (3) of
this subsection (b), if the school board |
| 12 | | determines that additional
facilities are needed to |
| 13 | | provide a quality educational program and not
less than 2/3 |
| 14 | | of those voting in an election called by the school board
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| 15 | | on the question approve the issuance of bonds for the |
| 16 | | construction of
such facilities, the school district may |
| 17 | | issue bonds for this
purpose; or
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| 18 | | (5) Notwithstanding the provisions of paragraphs (1) |
| 19 | | through (3) of this
subsection (b), if (i) the school |
| 20 | | district has previously availed itself of the
provisions of |
| 21 | | paragraph (4) of this subsection (b) to enable it to issue |
| 22 | | bonds,
(ii) the voters of the school district have not |
| 23 | | defeated a proposition for the
issuance of bonds since the |
| 24 | | referendum described in paragraph (4) of this
subsection |
| 25 | | (b) was held, (iii) the school board determines that |
| 26 | | additional
facilities are needed to provide a quality |
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| 1 | | educational program, and (iv) a
majority of those voting in |
| 2 | | an election called by the school board on the
question |
| 3 | | approve the issuance of bonds for the construction of such |
| 4 | | facilities,
the school district may issue bonds for this |
| 5 | | purpose.
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| 6 | | In no event shall the indebtedness incurred pursuant to |
| 7 | | this
subsection (b) and the existing indebtedness of the school |
| 8 | | district
exceed 15% of the value of the taxable property |
| 9 | | therein to be
ascertained by the last assessment for State and |
| 10 | | county taxes, previous
to the incurring of such indebtedness |
| 11 | | or, until January 1, 1983, if greater,
the sum that is produced |
| 12 | | by multiplying the school district's 1978 equalized
assessed |
| 13 | | valuation by the debt limitation percentage in effect on |
| 14 | | January 1,
1979.
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| 15 | | The indebtedness provided for by this subsection (b) shall |
| 16 | | be in
addition to and in excess of any other debt limitation.
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| 17 | | (c) Notwithstanding the debt limitation prescribed in |
| 18 | | subsection (a)
of this Section, in any case in which a public |
| 19 | | question for the issuance
of bonds of a proposed school |
| 20 | | district maintaining grades kindergarten
through 12 received |
| 21 | | at least 60% of the valid ballots cast on the question at
an |
| 22 | | election held on or prior to November 8, 1994, and in which the |
| 23 | | bonds
approved at such election have not been issued, the |
| 24 | | school district pursuant to
the requirements of Section 11A-10 |
| 25 | | (now repealed) may issue the total amount of bonds approved
at |
| 26 | | such election for the purpose stated in the question.
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| 1 | | (d) Notwithstanding the debt limitation prescribed in |
| 2 | | subsection (a)
of this Section, a school district that meets |
| 3 | | all the criteria set forth in
paragraphs (1) and (2) of this |
| 4 | | subsection (d) may incur an additional
indebtedness in an |
| 5 | | amount not to exceed $4,500,000, even though the amount of
the |
| 6 | | additional indebtedness authorized by this subsection (d), |
| 7 | | when incurred
and added to the aggregate amount of indebtedness |
| 8 | | of the district existing
immediately prior to the district |
| 9 | | incurring the additional indebtedness
authorized by this |
| 10 | | subsection (d), causes the aggregate indebtedness of the
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| 11 | | district to exceed the debt limitation otherwise applicable to |
| 12 | | that district
under subsection (a):
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| 13 | | (1) The additional indebtedness authorized by this |
| 14 | | subsection (d) is
incurred by the school district through |
| 15 | | the issuance of bonds under and in
accordance with Section |
| 16 | | 17-2.11a for the purpose of replacing a school
building |
| 17 | | which, because of mine subsidence damage, has been closed |
| 18 | | as provided
in paragraph (2) of this subsection (d) or |
| 19 | | through the issuance of bonds under
and in accordance with |
| 20 | | Section 19-3 for the purpose of increasing the size of,
or |
| 21 | | providing for additional functions in, such replacement |
| 22 | | school buildings, or
both such purposes.
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| 23 | | (2) The bonds issued by the school district as provided |
| 24 | | in paragraph (1)
above are issued for the purposes of |
| 25 | | construction by the school district of
a new school |
| 26 | | building pursuant to Section 17-2.11, to replace an |
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| 1 | | existing
school building that, because of mine subsidence |
| 2 | | damage, is closed as of the
end of the 1992-93 school year |
| 3 | | pursuant to action of the regional
superintendent of |
| 4 | | schools of the educational service region in which the
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| 5 | | district is located under Section 3-14.22 or are issued for |
| 6 | | the purpose of
increasing the size of, or providing for |
| 7 | | additional functions in, the new
school building being |
| 8 | | constructed to replace a school building closed as the
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| 9 | | result of mine subsidence damage, or both such purposes.
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| 10 | | (e) (Blank).
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| 11 | | (f) Notwithstanding the provisions of subsection (a) of |
| 12 | | this Section or of
any other law, bonds in not to exceed the |
| 13 | | aggregate amount of $5,500,000 and
issued by a school district |
| 14 | | meeting the following criteria shall not be
considered |
| 15 | | indebtedness for purposes of any statutory limitation and may |
| 16 | | be
issued in an amount or amounts, including existing |
| 17 | | indebtedness, in excess of
any heretofore or hereafter imposed |
| 18 | | statutory limitation as to indebtedness:
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| 19 | | (1) At the time of the sale of such bonds, the board of |
| 20 | | education of the
district shall have determined by |
| 21 | | resolution that the enrollment of students in
the district |
| 22 | | is projected to increase by not less than 7% during each of |
| 23 | | the
next succeeding 2 school years.
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| 24 | | (2) The board of education shall also determine by |
| 25 | | resolution that the
improvements to be financed with the |
| 26 | | proceeds of the bonds are needed because
of the projected |
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| 1 | | enrollment increases.
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| 2 | | (3) The board of education shall also determine by |
| 3 | | resolution that the
projected increases in enrollment are |
| 4 | | the result of improvements made or
expected to be made to |
| 5 | | passenger rail facilities located in the school
district.
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| 6 | | Notwithstanding the provisions of subsection (a) of this |
| 7 | | Section or of any other law, a school district that has availed |
| 8 | | itself of the provisions of this subsection (f) prior to July |
| 9 | | 22, 2004 (the effective date of Public Act 93-799) may also |
| 10 | | issue bonds approved by referendum up to an amount, including |
| 11 | | existing indebtedness, not exceeding 25% of the equalized |
| 12 | | assessed value of the taxable property in the district if all |
| 13 | | of the conditions set forth in items (1), (2), and (3) of this |
| 14 | | subsection (f) are met.
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| 15 | | (g) Notwithstanding the provisions of subsection (a) of |
| 16 | | this Section or any
other law, bonds in not to exceed an |
| 17 | | aggregate amount of 25% of the equalized
assessed value of the |
| 18 | | taxable property of a school district and issued by a
school |
| 19 | | district meeting the criteria in paragraphs (i) through (iv) of |
| 20 | | this
subsection shall not be considered indebtedness for |
| 21 | | purposes of any statutory
limitation and may be issued pursuant |
| 22 | | to resolution of the school board in an
amount or amounts, |
| 23 | | including existing indebtedness, in
excess of any statutory |
| 24 | | limitation of indebtedness heretofore or hereafter
imposed:
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| 25 | | (i) The bonds are issued for the purpose of |
| 26 | | constructing a new high school
building to replace two |
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| 1 | | adjacent existing buildings which together house a
single |
| 2 | | high school, each of which is more than 65 years old, and |
| 3 | | which together
are located on more than 10 acres and less |
| 4 | | than 11 acres of property.
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| 5 | | (ii) At the time the resolution authorizing the |
| 6 | | issuance of the bonds is
adopted, the cost of constructing |
| 7 | | a new school building to replace the existing
school |
| 8 | | building is less than 60% of the cost of repairing the |
| 9 | | existing school
building.
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| 10 | | (iii) The sale of the bonds occurs before July 1, 1997.
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| 11 | | (iv) The school district issuing the bonds is a unit |
| 12 | | school district
located in a county of less than 70,000 and |
| 13 | | more than 50,000 inhabitants,
which has an average daily |
| 14 | | attendance of less than 1,500 and an equalized
assessed |
| 15 | | valuation of less than $29,000,000.
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| 16 | | (h) Notwithstanding any other provisions of this Section or |
| 17 | | the
provisions of any other law, until January 1, 1998, a |
| 18 | | community unit school
district maintaining grades K through 12 |
| 19 | | may issue bonds up to an amount,
including existing |
| 20 | | indebtedness, not exceeding 27.6% of the equalized assessed
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| 21 | | value of the taxable property in the district, if all of the |
| 22 | | following
conditions are met:
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| 23 | | (i) The school district has an equalized assessed |
| 24 | | valuation for calendar
year 1995 of less than $24,000,000;
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| 25 | | (ii) The bonds are issued for the capital improvement, |
| 26 | | renovation,
rehabilitation, or replacement of existing |
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| 1 | | school buildings of the district,
all of which buildings |
| 2 | | were originally constructed not less than 40 years ago;
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| 3 | | (iii) The voters of the district approve a proposition |
| 4 | | for the issuance of
the bonds at a referendum held after |
| 5 | | March 19, 1996; and
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| 6 | | (iv) The bonds are issued pursuant to Sections 19-2 |
| 7 | | through 19-7 of this
Code.
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| 8 | | (i) Notwithstanding any other provisions of this Section or |
| 9 | | the provisions
of any other law, until January 1, 1998, a |
| 10 | | community unit school district
maintaining grades K through 12 |
| 11 | | may issue bonds up to an amount, including
existing |
| 12 | | indebtedness, not exceeding 27% of the equalized assessed value |
| 13 | | of the
taxable property in the district, if all of the |
| 14 | | following conditions are met:
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| 15 | | (i) The school district has an equalized assessed |
| 16 | | valuation for calendar
year 1995 of less than $44,600,000;
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| 17 | | (ii) The bonds are issued for the capital improvement, |
| 18 | | renovation,
rehabilitation, or replacement
of existing |
| 19 | | school buildings of the district, all of which
existing |
| 20 | | buildings were originally constructed not less than 80 |
| 21 | | years ago;
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| 22 | | (iii) The voters of the district approve a proposition |
| 23 | | for the issuance of
the bonds at a referendum held after |
| 24 | | December 31, 1996; and
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| 25 | | (iv) The bonds are issued pursuant to Sections 19-2 |
| 26 | | through 19-7 of this
Code.
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| 1 | | (j) Notwithstanding any other provisions of this Section or |
| 2 | | the
provisions of any other law, until January 1, 1999, a |
| 3 | | community unit school
district maintaining grades K through 12 |
| 4 | | may issue bonds up to an amount,
including existing |
| 5 | | indebtedness, not exceeding 27% of the equalized assessed
value |
| 6 | | of the taxable property in the district if all of the following
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| 7 | | conditions are met:
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| 8 | | (i) The school district has an equalized assessed |
| 9 | | valuation for calendar
year 1995 of less than $140,000,000 |
| 10 | | and a best 3 months
average daily
attendance for the |
| 11 | | 1995-96 school year of at least 2,800;
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| 12 | | (ii) The bonds are issued to purchase a site and build |
| 13 | | and equip a new
high school, and the school district's |
| 14 | | existing high school was originally
constructed not less |
| 15 | | than 35
years prior to the sale of the bonds;
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| 16 | | (iii) At the time of the sale of the bonds, the board |
| 17 | | of education
determines
by resolution that a new high |
| 18 | | school is needed because of projected enrollment
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| 19 | | increases;
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| 20 | | (iv) At least 60% of those voting in an election held
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| 21 | | after December 31, 1996 approve a proposition
for the |
| 22 | | issuance of
the bonds; and
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| 23 | | (v) The bonds are issued pursuant to Sections 19-2 |
| 24 | | through
19-7 of this Code.
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| 25 | | (k) Notwithstanding the debt limitation prescribed in |
| 26 | | subsection (a) of
this Section, a school district that meets |
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| 1 | | all the criteria set forth in
paragraphs (1) through (4) of |
| 2 | | this subsection (k) may issue bonds to incur an
additional |
| 3 | | indebtedness in an amount not to exceed $4,000,000 even though |
| 4 | | the
amount of the additional indebtedness authorized by this |
| 5 | | subsection (k), when
incurred and added to the aggregate amount |
| 6 | | of indebtedness of the school
district existing immediately |
| 7 | | prior to the school district incurring such
additional |
| 8 | | indebtedness, causes the aggregate indebtedness of the school
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| 9 | | district to exceed or increases the amount by which the |
| 10 | | aggregate indebtedness
of the district already exceeds the debt |
| 11 | | limitation otherwise applicable to
that school district under |
| 12 | | subsection (a):
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| 13 | | (1) the school district is located in 2 counties, and a |
| 14 | | referendum to
authorize the additional indebtedness was |
| 15 | | approved by a majority of the voters
of the school district |
| 16 | | voting on the proposition to authorize that
indebtedness;
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| 17 | | (2) the additional indebtedness is for the purpose of |
| 18 | | financing a
multi-purpose room addition to the existing |
| 19 | | high school;
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| 20 | | (3) the additional indebtedness, together with the |
| 21 | | existing indebtedness
of the school district, shall not |
| 22 | | exceed 17.4% of the value of the taxable
property in the |
| 23 | | school district, to be ascertained by the last assessment |
| 24 | | for
State and county taxes; and
|
| 25 | | (4) the bonds evidencing the additional indebtedness |
| 26 | | are issued, if at
all, within 120 days of August 14, 1998 |
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| 1 | | (the effective date of Public Act 90-757).
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| 2 | | (l) Notwithstanding any other provisions of this Section or |
| 3 | | the
provisions of any other law, until January 1, 2000, a |
| 4 | | school district
maintaining grades kindergarten through 8 may |
| 5 | | issue bonds up to an amount,
including existing indebtedness, |
| 6 | | not exceeding 15% of the equalized assessed
value of the |
| 7 | | taxable property in the district if all of the following
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| 8 | | conditions are met:
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| 9 | | (i) the district has an equalized assessed valuation |
| 10 | | for calendar year
1996 of less than $10,000,000;
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| 11 | | (ii) the bonds are issued for capital improvement, |
| 12 | | renovation,
rehabilitation, or replacement of one or more |
| 13 | | school buildings of the district,
which buildings were |
| 14 | | originally constructed not less than 70 years ago;
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| 15 | | (iii) the voters of the district approve a proposition |
| 16 | | for the issuance of
the bonds at a referendum held on or |
| 17 | | after March 17, 1998; and
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| 18 | | (iv) the bonds are issued pursuant to Sections 19-2 |
| 19 | | through 19-7 of this
Code.
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| 20 | | (m) Notwithstanding any other provisions of this Section or |
| 21 | | the provisions
of
any other law, until January 1, 1999, an |
| 22 | | elementary school district maintaining
grades K through 8 may |
| 23 | | issue bonds up to an amount, excluding existing
indebtedness, |
| 24 | | not exceeding 18% of the equalized assessed value of the |
| 25 | | taxable
property in the district, if all of the following |
| 26 | | conditions are met:
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| 1 | | (i) The school district has an equalized assessed |
| 2 | | valuation for calendar
year 1995 or less than $7,700,000;
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| 3 | | (ii) The school district operates 2 elementary |
| 4 | | attendance centers that
until
1976 were operated as the |
| 5 | | attendance centers of 2 separate and distinct school
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| 6 | | districts;
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| 7 | | (iii) The bonds are issued for the construction of a |
| 8 | | new elementary school
building to replace an existing |
| 9 | | multi-level elementary school building of the
school |
| 10 | | district that is not accessible at all levels and parts of
|
| 11 | | which were constructed more than 75 years ago;
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| 12 | | (iv) The voters of the school district approve a |
| 13 | | proposition for the
issuance of the bonds at a referendum |
| 14 | | held after July 1, 1998; and
|
| 15 | | (v) The bonds are issued pursuant to Sections 19-2 |
| 16 | | through 19-7 of this
Code.
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| 17 | | (n) Notwithstanding the debt limitation prescribed in |
| 18 | | subsection (a) of
this Section or any other provisions of this |
| 19 | | Section or of any other law, a
school district that meets all |
| 20 | | of the criteria set forth in paragraphs (i)
through (vi) of |
| 21 | | this subsection (n) may incur additional indebtedness by the
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| 22 | | issuance of bonds in an amount not exceeding the amount |
| 23 | | certified by the
Capital Development Board to the school |
| 24 | | district as provided in paragraph (iii)
of
this subsection (n), |
| 25 | | even though the amount of the additional indebtedness so
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| 26 | | authorized, when incurred and added to the aggregate amount of |
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| 1 | | indebtedness of
the district existing immediately prior to the |
| 2 | | district incurring the
additional indebtedness authorized by |
| 3 | | this subsection (n), causes the aggregate
indebtedness of the |
| 4 | | district to exceed the debt limitation otherwise applicable
by |
| 5 | | law to that district:
|
| 6 | | (i) The school district applies to the State Board of |
| 7 | | Education for a
school construction project grant and |
| 8 | | submits a district facilities plan in
support
of its |
| 9 | | application pursuant to Section 5-20 of
the School |
| 10 | | Construction Law.
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| 11 | | (ii) The school district's application and facilities |
| 12 | | plan are approved
by,
and the district receives a grant |
| 13 | | entitlement for a school construction project
issued by, |
| 14 | | the State Board of Education under the School Construction |
| 15 | | Law.
|
| 16 | | (iii) The school district has exhausted its bonding |
| 17 | | capacity or the unused
bonding capacity of the district is |
| 18 | | less than the amount certified by the
Capital Development |
| 19 | | Board to the district under Section 5-15 of the School
|
| 20 | | Construction Law as the dollar amount of the school |
| 21 | | construction project's cost
that the district will be |
| 22 | | required to finance with non-grant funds in order to
|
| 23 | | receive a school construction project grant under the |
| 24 | | School Construction Law.
|
| 25 | | (iv) The bonds are issued for a "school construction |
| 26 | | project", as that
term is defined in Section 5-5 of the |
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| 1 | | School Construction Law, in an amount
that does not exceed |
| 2 | | the dollar amount certified, as provided in paragraph
(iii) |
| 3 | | of this subsection (n), by the Capital Development Board
to |
| 4 | | the school
district under Section 5-15 of the School |
| 5 | | Construction Law.
|
| 6 | | (v) The voters of the district approve a proposition |
| 7 | | for the issuance of
the bonds at a referendum held after |
| 8 | | the criteria specified in paragraphs (i)
and (iii) of this |
| 9 | | subsection (n) are met.
|
| 10 | | (vi) The bonds are issued pursuant to Sections 19-2 |
| 11 | | through 19-7 of the
School Code.
|
| 12 | | (o) Notwithstanding any other provisions of this Section or |
| 13 | | the
provisions of any other law, until November 1, 2007, a |
| 14 | | community unit
school district maintaining grades K through 12 |
| 15 | | may issue bonds up to
an amount, including existing |
| 16 | | indebtedness, not exceeding 20% of the
equalized assessed value |
| 17 | | of the taxable property in the district if all of the
following |
| 18 | | conditions are met:
|
| 19 | | (i) the school district has an equalized assessed |
| 20 | | valuation
for calendar year 2001 of at least $737,000,000 |
| 21 | | and an enrollment
for the 2002-2003 school year of at least |
| 22 | | 8,500;
|
| 23 | | (ii) the bonds are issued to purchase school sites, |
| 24 | | build and
equip a new high school, build and equip a new |
| 25 | | junior high school,
build and equip 5 new elementary |
| 26 | | schools, and make technology
and other improvements and |
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| 1 | | additions to existing schools;
|
| 2 | | (iii) at the time of the sale of the bonds, the board |
| 3 | | of
education determines by resolution that the sites and |
| 4 | | new or
improved facilities are needed because of projected |
| 5 | | enrollment
increases;
|
| 6 | | (iv) at least 57% of those voting in a general election |
| 7 | | held
prior to January 1, 2003 approved a proposition for |
| 8 | | the issuance of
the bonds; and
|
| 9 | | (v) the bonds are issued pursuant to Sections 19-2 |
| 10 | | through
19-7 of this Code.
|
| 11 | | (p) Notwithstanding any other provisions of this Section or |
| 12 | | the provisions of any other law, a community unit school |
| 13 | | district maintaining grades K through 12 may issue bonds up to |
| 14 | | an amount, including indebtedness, not exceeding 27% of the |
| 15 | | equalized assessed value of the taxable property in the |
| 16 | | district if all of the following conditions are met: |
| 17 | | (i) The school district has an equalized assessed |
| 18 | | valuation for calendar year 2001 of at least $295,741,187 |
| 19 | | and a best 3 months' average daily attendance for the |
| 20 | | 2002-2003 school year of at least 2,394. |
| 21 | | (ii) The bonds are issued to build and equip 3 |
| 22 | | elementary school buildings; build and equip one middle |
| 23 | | school building; and alter, repair, improve, and equip all |
| 24 | | existing school buildings in the district. |
| 25 | | (iii) At the time of the sale of the bonds, the board |
| 26 | | of education determines by resolution that the project is |
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| 1 | | needed because of expanding growth in the school district |
| 2 | | and a projected enrollment increase. |
| 3 | | (iv) The bonds are issued pursuant to Sections 19-2 |
| 4 | | through 19-7 of this Code.
|
| 5 | | (p-5) Notwithstanding any other provisions of this Section |
| 6 | | or the provisions of any other law, bonds issued by a community |
| 7 | | unit school district maintaining grades K through 12 shall not |
| 8 | | be considered indebtedness for purposes of any statutory |
| 9 | | limitation and may be issued in an amount or amounts, including |
| 10 | | existing indebtedness, in excess of any heretofore or hereafter |
| 11 | | imposed statutory limitation as to indebtedness, if all of the |
| 12 | | following conditions are met: |
| 13 | | (i) For each of the 4 most recent years, residential |
| 14 | | property comprises more than 80% of the equalized assessed |
| 15 | | valuation of the district. |
| 16 | | (ii) At least 2 school buildings that were constructed |
| 17 | | 40 or more years prior to the issuance of the bonds will be |
| 18 | | demolished and will be replaced by new buildings or |
| 19 | | additions to one or more existing buildings. |
| 20 | | (iii) Voters of the district approve a proposition for |
| 21 | | the issuance of the bonds at a regularly scheduled |
| 22 | | election. |
| 23 | | (iv) At the time of the sale of the bonds, the school |
| 24 | | board determines by resolution that the new buildings or |
| 25 | | building additions are needed because of an increase in |
| 26 | | enrollment projected by the school board. |
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| 1 | | (v) The principal amount of the bonds, including |
| 2 | | existing indebtedness, does not exceed 25% of the equalized |
| 3 | | assessed value of the taxable property in the district. |
| 4 | | (vi) The bonds are issued prior to January 1, 2007, |
| 5 | | pursuant to Sections 19-2 through 19-7 of this Code.
|
| 6 | | (p-10) Notwithstanding any other provisions of this |
| 7 | | Section or the provisions of any other law, bonds issued by a |
| 8 | | community consolidated school district maintaining grades K |
| 9 | | through 8 shall not be considered indebtedness for purposes of |
| 10 | | any statutory limitation and may be issued in an amount or |
| 11 | | amounts, including existing indebtedness, in excess of any |
| 12 | | heretofore or hereafter imposed statutory limitation as to |
| 13 | | indebtedness, if all of the following conditions are met: |
| 14 | | (i) For each of the 4 most recent years, residential |
| 15 | | and farm property comprises more than 80% of the equalized |
| 16 | | assessed valuation of the district. |
| 17 | | (ii) The bond proceeds are to be used to acquire and |
| 18 | | improve school sites and build and equip a school building. |
| 19 | | (iii) Voters of the district approve a proposition for |
| 20 | | the issuance of the bonds at a regularly scheduled |
| 21 | | election. |
| 22 | | (iv) At the time of the sale of the bonds, the school |
| 23 | | board determines by resolution that the school sites and |
| 24 | | building additions are needed because of an increase in |
| 25 | | enrollment projected by the school board. |
| 26 | | (v) The principal amount of the bonds, including |
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| 1 | | existing indebtedness, does not exceed 20% of the equalized |
| 2 | | assessed value of the taxable property in the district. |
| 3 | | (vi) The bonds are issued prior to January 1, 2007, |
| 4 | | pursuant to Sections 19-2 through 19-7 of this Code.
|
| 5 | | (p-15) In addition to all other authority to issue bonds, |
| 6 | | the Oswego Community Unit School District Number 308 may issue |
| 7 | | bonds with an aggregate principal amount not to exceed |
| 8 | | $450,000,000, but only if all of the following conditions are |
| 9 | | met: |
| 10 | | (i) The voters of the district have approved a |
| 11 | | proposition for the bond issue at the general election held |
| 12 | | on November 7, 2006. |
| 13 | | (ii) At the time of the sale of the bonds, the school |
| 14 | | board determines, by resolution, that: (A) the building and |
| 15 | | equipping of the new high school building, new junior high |
| 16 | | school buildings, new elementary school buildings, early |
| 17 | | childhood building, maintenance building, transportation |
| 18 | | facility, and additions to existing school buildings, the |
| 19 | | altering, repairing, equipping, and provision of |
| 20 | | technology improvements to existing school buildings, and |
| 21 | | the acquisition and improvement of school sites, as the |
| 22 | | case may be, are required as a result of a projected |
| 23 | | increase in the enrollment of students in the district; and |
| 24 | | (B) the sale of bonds for these purposes is authorized by |
| 25 | | legislation that exempts the debt incurred on the bonds |
| 26 | | from the district's statutory debt limitation.
|
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| 1 | | (iii) The bonds are issued, in one or more bond issues, |
| 2 | | on or before November 7, 2011, but the aggregate principal |
| 3 | | amount issued in all such bond issues combined must not |
| 4 | | exceed $450,000,000.
|
| 5 | | (iv) The bonds are issued in accordance with this |
| 6 | | Article 19. |
| 7 | | (v) The proceeds of the bonds are used only to |
| 8 | | accomplish those projects approved by the voters at the |
| 9 | | general election held on November 7, 2006. |
| 10 | | The debt incurred on any bonds issued under this subsection |
| 11 | | (p-15) shall not be considered indebtedness for purposes of any |
| 12 | | statutory debt limitation.
|
| 13 | | (p-20) In addition to all other authority to issue bonds, |
| 14 | | the Lincoln-Way Community High School District Number 210 may |
| 15 | | issue bonds with an aggregate principal amount not to exceed |
| 16 | | $225,000,000, but only if all of the following conditions are |
| 17 | | met: |
| 18 | | (i) The voters of the district have approved a |
| 19 | | proposition for the bond issue at the general primary |
| 20 | | election held on March 21, 2006. |
| 21 | | (ii) At the time of the sale of the bonds, the school |
| 22 | | board determines, by resolution, that: (A) the building and |
| 23 | | equipping of the new high school buildings, the altering, |
| 24 | | repairing, and equipping of existing school buildings, and |
| 25 | | the improvement of school sites, as the case may be, are |
| 26 | | required as a result of a projected increase in the |
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| 1 | | enrollment of students in the district; and (B) the sale of |
| 2 | | bonds for these purposes is authorized by legislation that |
| 3 | | exempts the debt incurred on the bonds from the district's |
| 4 | | statutory debt limitation.
|
| 5 | | (iii) The bonds are issued, in one or more bond issues, |
| 6 | | on or before March 21, 2011, but the aggregate principal |
| 7 | | amount issued in all such bond issues combined must not |
| 8 | | exceed $225,000,000.
|
| 9 | | (iv) The bonds are issued in accordance with this |
| 10 | | Article 19. |
| 11 | | (v) The proceeds of the bonds are used only to |
| 12 | | accomplish those projects approved by the voters at the |
| 13 | | primary election held on March 21, 2006. |
| 14 | | The debt incurred on any bonds issued under this subsection |
| 15 | | (p-20) shall not be considered indebtedness for purposes of any |
| 16 | | statutory debt limitation.
|
| 17 | | (p-25) In addition to all other authority to issue bonds, |
| 18 | | Rochester Community Unit School District 3A may issue bonds |
| 19 | | with an aggregate principal amount not to exceed $18,500,000, |
| 20 | | but only if all of the following conditions are met: |
| 21 | | (i) The voters of the district approve a proposition |
| 22 | | for the bond issuance at the general primary election held |
| 23 | | in 2008.
|
| 24 | | (ii) At the time of the sale of the bonds, the school |
| 25 | | board determines, by resolution, that: (A) the building and |
| 26 | | equipping of a new high school building; the addition of |
|
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| 1 | | classrooms and support facilities at the high school, |
| 2 | | middle school, and elementary school; the altering, |
| 3 | | repairing, and equipping of existing school buildings; and |
| 4 | | the improvement of school sites, as the case may be, are |
| 5 | | required as a result of a projected increase in the |
| 6 | | enrollment of students in the district; and (B) the sale of |
| 7 | | bonds for these purposes is authorized by a law that |
| 8 | | exempts the debt incurred on the bonds from the district's |
| 9 | | statutory debt limitation. |
| 10 | | (iii) The bonds are issued, in one or more bond issues, |
| 11 | | on or before December 31, 2012, but the aggregate principal |
| 12 | | amount issued in all such bond issues combined must not |
| 13 | | exceed $18,500,000. |
| 14 | | (iv) The bonds are issued in accordance with this |
| 15 | | Article 19. |
| 16 | | (v) The proceeds of the bonds are used to accomplish |
| 17 | | only those projects approved by the voters at the primary |
| 18 | | election held in 2008.
|
| 19 | | The debt incurred on any bonds issued under this subsection |
| 20 | | (p-25) shall not be considered indebtedness for purposes of any |
| 21 | | statutory debt limitation.
|
| 22 | | (p-30) In addition to all other authority to issue bonds, |
| 23 | | Prairie Grove Consolidated School District 46 may issue bonds |
| 24 | | with an aggregate principal amount not to exceed $30,000,000, |
| 25 | | but only if all of the following conditions are met:
|
| 26 | | (i) The voters of the district approve a proposition |
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| 1 | | for the bond issuance at an election held in 2008.
|
| 2 | | (ii) At the time of the sale of the bonds, the school |
| 3 | | board determines, by resolution, that (A) the building and |
| 4 | | equipping of a new school building and additions to |
| 5 | | existing school buildings are required as a result of a |
| 6 | | projected increase in the enrollment of students in the |
| 7 | | district and (B) the altering, repairing, and equipping of |
| 8 | | existing school buildings are required because of the age |
| 9 | | of the existing school buildings.
|
| 10 | | (iii) The bonds are issued, in one or more bond |
| 11 | | issuances, on or before December 31, 2012; however, the |
| 12 | | aggregate principal amount issued in all such bond |
| 13 | | issuances combined must not exceed $30,000,000.
|
| 14 | | (iv) The bonds are issued in accordance with this |
| 15 | | Article.
|
| 16 | | (v) The proceeds of the bonds are used to accomplish |
| 17 | | only those projects approved by the voters at an election |
| 18 | | held in 2008.
|
| 19 | | The debt incurred on any bonds issued under this subsection |
| 20 | | (p-30) shall not be considered indebtedness for purposes of any |
| 21 | | statutory debt limitation.
|
| 22 | | (p-35) In addition to all other authority to issue bonds, |
| 23 | | Prairie Hill Community Consolidated School District 133 may |
| 24 | | issue bonds with an aggregate principal amount not to exceed |
| 25 | | $13,900,000, but only if all of the following conditions are |
| 26 | | met:
|
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| | 10100SB1937ham002 | - 26 - | LRB101 08681 NHT 72321 a |
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| 1 | | (i) The voters of the district approved a proposition |
| 2 | | for the bond issuance at an election held on April 17, |
| 3 | | 2007.
|
| 4 | | (ii) At the time of the sale of the bonds, the school |
| 5 | | board determines, by resolution, that (A) the improvement |
| 6 | | of the site of and the building and equipping of a school |
| 7 | | building are required as a result of a projected increase |
| 8 | | in the enrollment of students in the district and (B) the |
| 9 | | repairing and equipping of the Prairie Hill Elementary |
| 10 | | School building is required because of the age of that |
| 11 | | school building.
|
| 12 | | (iii) The bonds are issued, in one or more bond |
| 13 | | issuances, on or before December 31, 2011, but the |
| 14 | | aggregate principal amount issued in all such bond |
| 15 | | issuances combined must not exceed $13,900,000.
|
| 16 | | (iv) The bonds are issued in accordance with this |
| 17 | | Article.
|
| 18 | | (v) The proceeds of the bonds are used to accomplish |
| 19 | | only those projects approved by the voters at an election |
| 20 | | held on April 17, 2007.
|
| 21 | | The debt incurred on any bonds issued under this subsection |
| 22 | | (p-35) shall not be considered indebtedness for purposes of any |
| 23 | | statutory debt limitation.
|
| 24 | | (p-40) In addition to all other authority to issue bonds, |
| 25 | | Mascoutah Community Unit District 19 may issue bonds with an |
| 26 | | aggregate principal amount not to exceed $55,000,000, but only |
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| 1 | | if all of the following conditions are met: |
| 2 | | (1) The voters of the district approve a proposition |
| 3 | | for the bond issuance at a regular election held on or |
| 4 | | after November 4, 2008. |
| 5 | | (2) At the time of the sale of the bonds, the school |
| 6 | | board determines, by resolution, that (i) the building and |
| 7 | | equipping of a new high school building is required as a |
| 8 | | result of a projected increase in the enrollment of |
| 9 | | students in the district and the age and condition of the |
| 10 | | existing high school building, (ii) the existing high |
| 11 | | school building will be demolished, and (iii) the sale of |
| 12 | | bonds is authorized by statute that exempts the debt |
| 13 | | incurred on the bonds from the district's statutory debt |
| 14 | | limitation. |
| 15 | | (3) The bonds are issued, in one or more bond |
| 16 | | issuances, on or before December 31, 2011, but the |
| 17 | | aggregate principal amount issued in all such bond |
| 18 | | issuances combined must not exceed $55,000,000. |
| 19 | | (4) The bonds are issued in accordance with this |
| 20 | | Article. |
| 21 | | (5) The proceeds of the bonds are used to accomplish |
| 22 | | only those projects approved by the voters at a regular |
| 23 | | election held on or after November 4, 2008. |
| 24 | | The debt incurred on any bonds issued under this subsection |
| 25 | | (p-40) shall not be considered indebtedness for purposes of any |
| 26 | | statutory debt limitation. |
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| 1 | | (p-45) Notwithstanding the provisions of subsection (a) of |
| 2 | | this Section or of any other law, bonds issued pursuant to |
| 3 | | Section 19-3.5 of this Code shall not be considered |
| 4 | | indebtedness for purposes of any statutory limitation if the |
| 5 | | bonds are issued in an amount or amounts, including existing |
| 6 | | indebtedness of the school district, not in excess of 18.5% of |
| 7 | | the value of the taxable property in the district to be |
| 8 | | ascertained by the last assessment for State and county taxes. |
| 9 | | (p-50) Notwithstanding the provisions of subsection (a) of
|
| 10 | | this Section or of any other law, bonds issued pursuant to
|
| 11 | | Section 19-3.10 of this Code shall not be considered
|
| 12 | | indebtedness for purposes of any statutory limitation if the
|
| 13 | | bonds are issued in an amount or amounts, including existing
|
| 14 | | indebtedness of the school district, not in excess of 43% of
|
| 15 | | the value of the taxable property in the district to be
|
| 16 | | ascertained by the last assessment for State and county taxes. |
| 17 | | (p-55) In addition to all other authority to issue bonds, |
| 18 | | Belle Valley School District 119 may issue bonds with an |
| 19 | | aggregate principal amount not to exceed $47,500,000, but only |
| 20 | | if all of the following conditions are met: |
| 21 | | (1) The voters of the district approve a proposition |
| 22 | | for the bond issuance at an election held on or after April |
| 23 | | 7, 2009. |
| 24 | | (2) Prior to the issuance of the bonds, the school |
| 25 | | board determines, by resolution, that (i) the building and |
| 26 | | equipping of a new school building is required as a result |
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| 1 | | of mine subsidence in an existing school building and |
| 2 | | because of the age and condition of another existing school |
| 3 | | building and (ii) the issuance of bonds is authorized by |
| 4 | | statute that exempts the debt incurred on the bonds from |
| 5 | | the district's statutory debt limitation. |
| 6 | | (3) The bonds are issued, in one or more bond |
| 7 | | issuances, on or before March 31, 2014, but the aggregate |
| 8 | | principal amount issued in all such bond issuances combined |
| 9 | | must not exceed $47,500,000. |
| 10 | | (4) The bonds are issued in accordance with this |
| 11 | | Article. |
| 12 | | (5) The proceeds of the bonds are used to accomplish |
| 13 | | only those projects approved by the voters at an election |
| 14 | | held on or after April 7, 2009. |
| 15 | | The debt incurred on any bonds issued under this subsection |
| 16 | | (p-55) shall not be considered indebtedness for purposes of any |
| 17 | | statutory debt limitation. Bonds issued under this subsection |
| 18 | | (p-55) must mature within not to exceed 30 years from their |
| 19 | | date, notwithstanding any other law to the contrary. |
| 20 | | (p-60) In addition to all other authority to issue bonds, |
| 21 | | Wilmington Community Unit School District Number 209-U may |
| 22 | | issue bonds with an aggregate principal amount not to exceed |
| 23 | | $2,285,000, but only if all of the following conditions are |
| 24 | | met: |
| 25 | | (1) The proceeds of the bonds are used to accomplish |
| 26 | | only those projects approved by the voters at the general |
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| 1 | | primary election held on March 21, 2006. |
| 2 | | (2) Prior to the issuance of the bonds, the school |
| 3 | | board determines, by resolution, that (i) the projects |
| 4 | | approved by the voters were and are required because of the |
| 5 | | age and condition of the school district's prior and |
| 6 | | existing school buildings and (ii) the issuance of the |
| 7 | | bonds is authorized by legislation that exempts the debt |
| 8 | | incurred on the bonds from the district's statutory debt |
| 9 | | limitation. |
| 10 | | (3) The bonds are issued in one or more bond issuances |
| 11 | | on or before March 1, 2011, but the aggregate principal |
| 12 | | amount issued in all those bond issuances combined must not |
| 13 | | exceed $2,285,000. |
| 14 | | (4) The bonds are issued in accordance with this |
| 15 | | Article. |
| 16 | | The debt incurred on any bonds issued under this subsection |
| 17 | | (p-60) shall not be considered indebtedness for purposes of any |
| 18 | | statutory debt limitation. |
| 19 | | (p-65) In addition to all other authority to issue bonds, |
| 20 | | West Washington County Community Unit School District 10 may |
| 21 | | issue bonds with an aggregate principal amount not to exceed |
| 22 | | $32,200,000 and maturing over a period not exceeding 25 years, |
| 23 | | but only if all of the following conditions are met: |
| 24 | | (1) The voters of the district approve a proposition |
| 25 | | for the bond issuance at an election held on or after |
| 26 | | February 2, 2010. |
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| 1 | | (2) Prior to the issuance of the bonds, the school |
| 2 | | board determines, by resolution, that (A) all or a portion |
| 3 | | of the existing Okawville Junior/Senior High School |
| 4 | | Building will be demolished; (B) the building and equipping |
| 5 | | of a new school building to be attached to and the |
| 6 | | alteration, repair, and equipping of the remaining portion |
| 7 | | of the Okawville Junior/Senior High School Building is |
| 8 | | required because of the age and current condition of that |
| 9 | | school building; and (C) the issuance of bonds is |
| 10 | | authorized by a statute that exempts the debt incurred on |
| 11 | | the bonds from the district's statutory debt limitation. |
| 12 | | (3) The bonds are issued, in one or more bond |
| 13 | | issuances, on or before March 31, 2014, but the aggregate |
| 14 | | principal amount issued in all such bond issuances combined |
| 15 | | must not exceed $32,200,000. |
| 16 | | (4) The bonds are issued in accordance with this |
| 17 | | Article. |
| 18 | | (5) The proceeds of the bonds are used to accomplish |
| 19 | | only those projects approved by the voters at an election |
| 20 | | held on or after February 2, 2010. |
| 21 | | The debt incurred on any bonds issued under this subsection |
| 22 | | (p-65) shall not be considered indebtedness for purposes of any |
| 23 | | statutory debt limitation. |
| 24 | | (p-70) In addition to all other authority to issue bonds, |
| 25 | | Cahokia Community Unit School District 187 may issue bonds with |
| 26 | | an aggregate principal amount not to exceed $50,000,000, but |
|
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| 1 | | only if all the following conditions are met: |
| 2 | | (1) The voters of the district approve a proposition |
| 3 | | for the bond issuance at an election held on or after |
| 4 | | November 2, 2010. |
| 5 | | (2) Prior to the issuance of the bonds, the school |
| 6 | | board determines, by resolution, that (i) the building and |
| 7 | | equipping of a new school building is required as a result |
| 8 | | of the age and condition of an existing school building and |
| 9 | | (ii) the issuance of bonds is authorized by a statute that |
| 10 | | exempts the debt incurred on the bonds from the district's |
| 11 | | statutory debt limitation. |
| 12 | | (3) The bonds are issued, in one or more issuances, on |
| 13 | | or before July 1, 2016, but the aggregate principal amount |
| 14 | | issued in all such bond issuances combined must not exceed |
| 15 | | $50,000,000. |
| 16 | | (4) The bonds are issued in accordance with this |
| 17 | | Article. |
| 18 | | (5) The proceeds of the bonds are used to accomplish |
| 19 | | only those projects approved by the voters at an election |
| 20 | | held on or after November 2, 2010. |
| 21 | | The debt incurred on any bonds issued under this subsection |
| 22 | | (p-70) shall not be considered indebtedness for purposes of any |
| 23 | | statutory debt limitation. Bonds issued under this subsection |
| 24 | | (p-70) must mature within not to exceed 25 years from their |
| 25 | | date, notwithstanding any other law, including Section 19-3 of |
| 26 | | this Code, to the contrary. |
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| 1 | | (p-75) Notwithstanding the debt limitation prescribed in |
| 2 | | subsection (a) of this Section
or any other provisions of this |
| 3 | | Section or of any other law, the execution of leases on or
|
| 4 | | after January 1, 2007 and before July 1, 2011 by the Board of |
| 5 | | Education of Peoria School District 150 with a public building |
| 6 | | commission for leases entered into pursuant to the Public
|
| 7 | | Building Commission Act shall not be considered indebtedness |
| 8 | | for purposes of any
statutory debt limitation. |
| 9 | | This subsection (p-75) applies only if the State Board of |
| 10 | | Education or the Capital Development Board makes one or more |
| 11 | | grants to Peoria School District 150 pursuant to the School |
| 12 | | Construction Law. The amount exempted from the debt limitation |
| 13 | | as prescribed in this subsection (p-75) shall be no greater |
| 14 | | than the amount of one or more grants awarded to Peoria School |
| 15 | | District 150 by the State Board of Education or the Capital |
| 16 | | Development Board. |
| 17 | | (p-80) In addition to all other authority to issue bonds, |
| 18 | | Ridgeland School District 122 may issue bonds with an aggregate |
| 19 | | principal amount not to exceed $50,000,000 for the purpose of |
| 20 | | refunding or continuing to refund bonds originally issued |
| 21 | | pursuant to voter approval at the general election held on |
| 22 | | November 7, 2000, and the debt incurred on any bonds issued |
| 23 | | under this subsection (p-80) shall not be considered |
| 24 | | indebtedness for purposes of any statutory debt limitation. |
| 25 | | Bonds issued under this subsection (p-80) may be issued in one |
| 26 | | or more issuances and must mature within not to exceed 25 years |
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| 1 | | from their date, notwithstanding any other law, including |
| 2 | | Section 19-3 of this Code, to the contrary. |
| 3 | | (p-85) In addition to all other authority to issue bonds, |
| 4 | | Hall High School District 502 may issue bonds with an aggregate |
| 5 | | principal amount not to exceed $32,000,000, but only if all the |
| 6 | | following conditions are met: |
| 7 | | (1) The voters of the district approve a proposition
|
| 8 | | for the bond issuance at an election held on or after April |
| 9 | | 9, 2013. |
| 10 | | (2) Prior to the issuance of the bonds, the school
|
| 11 | | board determines, by resolution, that (i) the building and |
| 12 | | equipping of a new school building is required as a result |
| 13 | | of the age and condition of an existing school building, |
| 14 | | (ii) the existing school building should be demolished in |
| 15 | | its entirety or the existing school building should be |
| 16 | | demolished except for the 1914 west wing of the building, |
| 17 | | and (iii) the issuance of bonds is authorized by a statute |
| 18 | | that exempts the debt incurred on the bonds from the |
| 19 | | district's statutory debt limitation. |
| 20 | | (3) The bonds are issued, in one or more issuances, not |
| 21 | | later than 5 years after the date of the referendum |
| 22 | | approving the issuance of the bonds, but the aggregate |
| 23 | | principal amount issued in all such bond issuances combined |
| 24 | | must not exceed $32,000,000. |
| 25 | | (4) The bonds are issued in accordance with this
|
| 26 | | Article. |
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| 1 | | (5) The proceeds of the bonds are used to accomplish
|
| 2 | | only those projects approved by the voters at an election |
| 3 | | held on or after April 9, 2013. |
| 4 | | The debt incurred on any bonds issued under this subsection |
| 5 | | (p-85) shall not be considered indebtedness for purposes of any |
| 6 | | statutory debt limitation. Bonds issued under this subsection |
| 7 | | (p-85) must mature within not to exceed 30 years from their |
| 8 | | date, notwithstanding any other law, including Section 19-3 of |
| 9 | | this Code, to the contrary. |
| 10 | | (p-90) In addition to all other authority to issue bonds, |
| 11 | | Lebanon Community Unit School District 9 may issue bonds with |
| 12 | | an aggregate principal amount not to exceed $7,500,000, but |
| 13 | | only if all of the following conditions are met: |
| 14 | | (1) The voters of the district approved a proposition |
| 15 | | for the bond issuance at the general primary election on |
| 16 | | February 2, 2010. |
| 17 | | (2) At or prior to the time of the sale of the bonds, |
| 18 | | the school board determines, by resolution, that (i) the |
| 19 | | building and equipping of a new elementary school building |
| 20 | | is required as a result of a projected increase in the |
| 21 | | enrollment of students in the district and the age and |
| 22 | | condition of the existing Lebanon Elementary School |
| 23 | | building, (ii) a portion of the existing Lebanon Elementary |
| 24 | | School building will be demolished and the remaining |
| 25 | | portion will be altered, repaired, and equipped, and (iii) |
| 26 | | the sale of bonds is authorized by a statute that exempts |
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| 1 | | the debt incurred on the bonds from the district's |
| 2 | | statutory debt limitation. |
| 3 | | (3) The bonds are issued, in one or more bond |
| 4 | | issuances, on or before April 1, 2014, but the aggregate |
| 5 | | principal amount issued in all such bond issuances combined |
| 6 | | must not exceed $7,500,000. |
| 7 | | (4) The bonds are issued in accordance with this |
| 8 | | Article. |
| 9 | | (5) The proceeds of the bonds are used to accomplish |
| 10 | | only those projects approved by the voters at the general |
| 11 | | primary election held on February 2, 2010. |
| 12 | | The debt incurred on any bonds issued under this subsection |
| 13 | | (p-90) shall not be considered indebtedness for purposes of any |
| 14 | | statutory debt limitation. |
| 15 | | (p-95) In addition to all other authority to issue bonds, |
| 16 | | Monticello Community Unit School District 25 may issue bonds |
| 17 | | with an aggregate principal amount not to exceed $35,000,000, |
| 18 | | but only if all of the following conditions are met: |
| 19 | | (1) The voters of the district approve a proposition |
| 20 | | for the bond issuance at an election held on or after |
| 21 | | November 4, 2014. |
| 22 | | (2) Prior to the issuance of the bonds, the school |
| 23 | | board determines, by resolution, that (i) the building and |
| 24 | | equipping of a new school building is required as a result |
| 25 | | of the age and condition of an existing school building and |
| 26 | | (ii) the issuance of bonds is authorized by a statute that |
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| 1 | | exempts the debt incurred on the bonds from the district's |
| 2 | | statutory debt limitation. |
| 3 | | (3) The bonds are issued, in one or more issuances, on |
| 4 | | or before July 1, 2020, but the aggregate principal amount |
| 5 | | issued in all such bond issuances combined must not exceed |
| 6 | | $35,000,000. |
| 7 | | (4) The bonds are issued in accordance with this |
| 8 | | Article. |
| 9 | | (5) The proceeds of the bonds are used to accomplish |
| 10 | | only those projects approved by the voters at an election |
| 11 | | held on or after November 4, 2014. |
| 12 | | The debt incurred on any bonds issued under this subsection |
| 13 | | (p-95) shall not be considered indebtedness for purposes of any |
| 14 | | statutory debt limitation. Bonds issued under this subsection |
| 15 | | (p-95) must mature within not to exceed 25 years from their |
| 16 | | date, notwithstanding any other law, including Section 19-3 of |
| 17 | | this Code, to the contrary. |
| 18 | | (p-100) In addition to all other authority to issue bonds, |
| 19 | | the community unit school district created in the territory |
| 20 | | comprising Milford Community Consolidated School District 280 |
| 21 | | and Milford Township High School District 233, as approved at |
| 22 | | the general primary election held on March 18, 2014, may issue |
| 23 | | bonds with an aggregate principal amount not to exceed |
| 24 | | $17,500,000, but only if all the following conditions are met: |
| 25 | | (1) The voters of the district approve a proposition |
| 26 | | for the bond issuance at an election held on or after |
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| 1 | | November 4, 2014. |
| 2 | | (2) Prior to the issuance of the bonds, the school |
| 3 | | board determines, by resolution, that (i) the building and |
| 4 | | equipping of a new school building is required as a result |
| 5 | | of the age and condition of an existing school building and |
| 6 | | (ii) the issuance of bonds is authorized by a statute that |
| 7 | | exempts the debt incurred on the bonds from the district's |
| 8 | | statutory debt limitation. |
| 9 | | (3) The bonds are issued, in one or more issuances, on |
| 10 | | or before July 1, 2020, but the aggregate principal amount |
| 11 | | issued in all such bond issuances combined must not exceed |
| 12 | | $17,500,000. |
| 13 | | (4) The bonds are issued in accordance with this |
| 14 | | Article. |
| 15 | | (5) The proceeds of the bonds are used to accomplish |
| 16 | | only those projects approved by the voters at an election |
| 17 | | held on or after November 4, 2014. |
| 18 | | The debt incurred on any bonds issued under this subsection |
| 19 | | (p-100) shall not be considered indebtedness for purposes of |
| 20 | | any statutory debt limitation. Bonds issued under this |
| 21 | | subsection (p-100) must mature within not to exceed 25 years |
| 22 | | from their date, notwithstanding any other law, including |
| 23 | | Section 19-3 of this Code, to the contrary. |
| 24 | | (p-105) In addition to all other authority to issue bonds, |
| 25 | | North Shore School District 112 may issue bonds with an |
| 26 | | aggregate principal amount not to exceed $150,000,000, but only |
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| 1 | | if all of the following conditions are met: |
| 2 | | (1) The voters of the district approve a proposition |
| 3 | | for the bond issuance at an election held on or after March |
| 4 | | 15, 2016. |
| 5 | | (2) Prior to the issuance of the bonds, the school |
| 6 | | board determines, by resolution, that (i) the building and |
| 7 | | equipping of new buildings and improving the sites thereof |
| 8 | | and the building and equipping of additions to, altering, |
| 9 | | repairing, equipping, and renovating existing buildings |
| 10 | | and improving the sites thereof are required as a result of |
| 11 | | the age and condition of the district's existing buildings |
| 12 | | and (ii) the issuance of bonds is authorized by a statute |
| 13 | | that exempts the debt incurred on the bonds from the |
| 14 | | district's statutory debt limitation. |
| 15 | | (3) The bonds are issued, in one or more issuances, not |
| 16 | | later than 5 years after the date of the referendum |
| 17 | | approving the issuance of the bonds, but the aggregate |
| 18 | | principal amount issued in all such bond issuances combined |
| 19 | | must not exceed $150,000,000. |
| 20 | | (4) The bonds are issued in accordance with this |
| 21 | | Article. |
| 22 | | (5) The proceeds of the bonds are used to accomplish |
| 23 | | only those projects approved by the voters at an election |
| 24 | | held on or after March 15, 2016. |
| 25 | | The debt incurred on any bonds issued under this subsection |
| 26 | | (p-105) and on any bonds issued to refund or continue to refund |
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| 1 | | such bonds shall not be considered indebtedness for purposes of |
| 2 | | any statutory debt limitation. Bonds issued under this |
| 3 | | subsection (p-105) and any bonds issued to refund or continue |
| 4 | | to refund such bonds must mature within not to exceed 30 years |
| 5 | | from their date, notwithstanding any other law, including |
| 6 | | Section 19-3 of this Code, to the contrary. |
| 7 | | (p-110) In addition to all other authority to issue bonds, |
| 8 | | Sandoval Community Unit School District 501 may issue bonds |
| 9 | | with an aggregate principal amount not to exceed $2,000,000, |
| 10 | | but only if all of the following conditions are met: |
| 11 | | (1) The voters of the district approved a proposition |
| 12 | | for the bond issuance at an election held on March 20, |
| 13 | | 2012. |
| 14 | | (2) Prior to the issuance of the bonds, the school |
| 15 | | board determines, by resolution, that (i) the building and |
| 16 | | equipping of a new school building is required because of |
| 17 | | the age and current condition of the Sandoval Elementary |
| 18 | | School building and (ii) the issuance of bonds is |
| 19 | | authorized by a statute that exempts the debt incurred on |
| 20 | | the bonds from the district's statutory debt limitation. |
| 21 | | (3) The bonds are issued, in one or more bond |
| 22 | | issuances, on or before March 19, 2022, but the aggregate |
| 23 | | principal amount issued in all such bond issuances combined |
| 24 | | must not exceed $2,000,000. |
| 25 | | (4) The bonds are issued in accordance with this |
| 26 | | Article. |
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| 1 | | (5) The proceeds of the bonds are used to accomplish |
| 2 | | only those projects approved by the voters at the election |
| 3 | | held on March 20, 2012. |
| 4 | | The debt incurred on any bonds issued under this subsection |
| 5 | | (p-110) and on any bonds issued to refund or continue to refund |
| 6 | | the bonds shall not be considered indebtedness for purposes of |
| 7 | | any statutory debt limitation. |
| 8 | | (p-115) In addition to all other authority to issue bonds, |
| 9 | | Bureau Valley Community Unit School District 340 may issue |
| 10 | | bonds with an aggregate principal amount not to exceed |
| 11 | | $25,000,000, but only if all of the following conditions are |
| 12 | | met: |
| 13 | | (1) The voters of the district approve a proposition |
| 14 | | for the bond issuance at an election held on or after March |
| 15 | | 15, 2016. |
| 16 | | (2) Prior to the issuances of the bonds, the school |
| 17 | | board determines, by resolution, that (i) the renovating |
| 18 | | and equipping of some existing school buildings, the |
| 19 | | building and equipping of new school buildings, and the |
| 20 | | demolishing of some existing school buildings are required |
| 21 | | as a result of the age and condition of existing school |
| 22 | | buildings and (ii) the issuance of bonds is authorized by a |
| 23 | | statute that exempts the debt incurred on the bonds from |
| 24 | | the district's statutory debt limitation. |
| 25 | | (3) The bonds are issued, in one or more issuances, on |
| 26 | | or before July 1, 2021, but the aggregate principal amount |
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| 1 | | issued in all such bond issuances combined must not exceed |
| 2 | | $25,000,000. |
| 3 | | (4) The bonds are issued in accordance with this |
| 4 | | Article. |
| 5 | | (5) The proceeds of the bonds are used to accomplish |
| 6 | | only those projects approved by the voters at an election |
| 7 | | held on or after March 15, 2016. |
| 8 | | The debt incurred on any bonds issued under this subsection |
| 9 | | (p-115) shall not be considered indebtedness for purposes of |
| 10 | | any statutory debt limitation. Bonds issued under this |
| 11 | | subsection (p-115) must mature within not to exceed 30 years |
| 12 | | from their date, notwithstanding any other law, including |
| 13 | | Section 19-3 of this Code, to the contrary. |
| 14 | | (p-120) In addition to all other authority to issue bonds, |
| 15 | | Paxton-Buckley-Loda Community Unit School District 10 may |
| 16 | | issue bonds with an aggregate principal amount not to exceed
|
| 17 | | $28,500,000, but only if all the following conditions are met: |
| 18 | | (1) The voters of the district approve a proposition |
| 19 | | for the bond issuance at an election held on or after |
| 20 | | November 8, 2016. |
| 21 | | (2) Prior to the issuance of the bonds, the school |
| 22 | | board determines, by resolution, that (i) the projects as |
| 23 | | described in said proposition, relating to the building and |
| 24 | | equipping of one or more school buildings or additions to |
| 25 | | existing school buildings, are required as a result of the |
| 26 | | age and condition of the District's existing buildings and |
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| 1 | | (ii) the issuance of bonds is authorized by a statute that |
| 2 | | exempts the debt incurred on the bonds from the district's |
| 3 | | statutory debt limitation. |
| 4 | | (3) The bonds are issued, in one or more issuances, not |
| 5 | | later than 5 years after the date of the referendum |
| 6 | | approving the issuance of the bonds, but the aggregate |
| 7 | | principal amount issued in all such bond issuances combined |
| 8 | | must not exceed $28,500,000. |
| 9 | | (4) The bonds are issued in accordance with this |
| 10 | | Article. |
| 11 | | (5) The proceeds of the bonds are used to accomplish |
| 12 | | only those projects approved by the voters at an election |
| 13 | | held on or after November 8, 2016. |
| 14 | | The debt incurred on any bonds issued under this subsection |
| 15 | | (p-120) and on any bonds
issued to refund or continue to refund |
| 16 | | such bonds shall not be considered indebtedness for
purposes of |
| 17 | | any statutory debt limitation. Bonds issued under this |
| 18 | | subsection (p-120) and any
bonds issued to refund or continue |
| 19 | | to refund such bonds must mature within not to exceed 25
years |
| 20 | | from their date, notwithstanding any other law, including |
| 21 | | Section 19-3 of this Code, to the
contrary. |
| 22 | | (p-125) In addition to all other authority to issue bonds, |
| 23 | | Hillsboro Community Unit School District 3 may issue bonds with |
| 24 | | an aggregate principal amount not to exceed
$34,500,000, but |
| 25 | | only if all the following conditions are met: |
| 26 | | (1) The voters of the district approve a proposition |
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| 1 | | for the bond issuance at an election held on or after March |
| 2 | | 15, 2016. |
| 3 | | (2) Prior to the issuance of the bonds, the school |
| 4 | | board determines, by resolution, that (i) altering, |
| 5 | | repairing, and equipping the high school |
| 6 | | agricultural/vocational building, demolishing the high |
| 7 | | school main, cafeteria, and gym buildings, building and |
| 8 | | equipping a school building, and improving sites are |
| 9 | | required as a result of the age and condition of the |
| 10 | | district's existing buildings and (ii) the issuance of |
| 11 | | bonds is authorized by a statute that exempts the debt |
| 12 | | incurred on the bonds from the district's statutory debt |
| 13 | | limitation. |
| 14 | | (3) The bonds are issued, in one or more issuances, not |
| 15 | | later than 5 years after the date of the referendum |
| 16 | | approving the issuance of the bonds, but the aggregate |
| 17 | | principal amount issued in all such bond issuances combined |
| 18 | | must not exceed $34,500,000. |
| 19 | | (4) The bonds are issued in accordance with this |
| 20 | | Article. |
| 21 | | (5) The proceeds of the bonds are used to accomplish |
| 22 | | only those projects approved by the voters at an election |
| 23 | | held on or after March 15, 2016. |
| 24 | | The debt incurred on any bonds issued under this subsection |
| 25 | | (p-125) and on any bonds
issued to refund or continue to refund |
| 26 | | such bonds shall not be considered indebtedness for
purposes of |
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| 1 | | any statutory debt limitation. Bonds issued under this |
| 2 | | subsection (p-125) and any
bonds issued to refund or continue |
| 3 | | to refund such bonds must mature within not to exceed 25
years |
| 4 | | from their date, notwithstanding any other law, including |
| 5 | | Section 19-3 of this Code, to the
contrary. |
| 6 | | (p-130) In addition to all other authority to issue bonds, |
| 7 | | Waltham Community Consolidated School District 185 may incur |
| 8 | | indebtedness in an aggregate principal amount not to exceed |
| 9 | | $9,500,000 to build and equip a new school building and improve |
| 10 | | the site thereof, but only if all the following conditions are |
| 11 | | met: |
| 12 | | (1) A majority of the voters of the district voting on |
| 13 | | an advisory question voted in favor of the question |
| 14 | | regarding the use of funding sources to build a new school |
| 15 | | building without increasing property tax rates at the |
| 16 | | general election held on November 8, 2016. |
| 17 | | (2) Prior to incurring the debt, the school board |
| 18 | | enters into intergovernmental agreements with the City of |
| 19 | | LaSalle to pledge moneys in a special tax allocation fund |
| 20 | | associated with tax increment financing districts LaSalle |
| 21 | | I and LaSalle III and with the Village of Utica to pledge |
| 22 | | moneys in a special tax allocation fund associated with tax |
| 23 | | increment financing district Utica I for the purposes of |
| 24 | | repaying the debt issued pursuant to this subsection |
| 25 | | (p-130). Notwithstanding any other provision of law to the |
| 26 | | contrary, the intergovernmental agreement may extend these |
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| 1 | | tax increment financing districts as necessary to ensure |
| 2 | | repayment of the debt. |
| 3 | | (3) Prior to incurring the debt, the school board |
| 4 | | determines, by resolution, that (i) the building and |
| 5 | | equipping of a new school building is required as a result |
| 6 | | of the age and condition of the district's existing |
| 7 | | buildings and (ii) the debt is authorized by a statute that |
| 8 | | exempts the debt from the district's statutory debt |
| 9 | | limitation. |
| 10 | | (4) The debt is incurred, in one or more issuances, not |
| 11 | | later than January 1, 2021, and the aggregate principal |
| 12 | | amount of debt issued in all such issuances combined must |
| 13 | | not exceed $9,500,000. |
| 14 | | The debt incurred under this subsection (p-130) and on any |
| 15 | | bonds issued to pay, refund, or continue to refund such debt |
| 16 | | shall not be considered indebtedness for purposes of any |
| 17 | | statutory debt limitation. Debt issued under this subsection |
| 18 | | (p-130) and any bonds issued to pay, refund, or continue to |
| 19 | | refund such debt must mature within not to exceed 25 years from |
| 20 | | their date, notwithstanding any other law, including Section |
| 21 | | 19-11 of this Code and subsection (b) of Section 17 of the |
| 22 | | Local Government Debt Reform Act, to the contrary. |
| 23 | | (p-133) Notwithstanding the provisions of subsection (a) |
| 24 | | of this Section or of any other law, bonds heretofore or |
| 25 | | hereafter issued by East Prairie School District 73 with an |
| 26 | | aggregate principal amount not to exceed $47,353,147 and |
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| 1 | | approved by the voters of the district at the general election |
| 2 | | held on November 8, 2016, and any bonds issued to refund or |
| 3 | | continue to refund the bonds, shall not be considered |
| 4 | | indebtedness for the purposes of any statutory debt limitation |
| 5 | | and may mature within not to exceed 25 years from their date, |
| 6 | | notwithstanding any other law, including Section 19-3 of this |
| 7 | | Code, to the contrary. |
| 8 | | (p-135) In addition to all other authority to issue bonds, |
| 9 | | Brookfield LaGrange Park School District Number 95 may issue |
| 10 | | bonds with an aggregate principal amount not to exceed |
| 11 | | $20,000,000, but only if all the following conditions are met: |
| 12 | | (1) The voters of the district approve a proposition |
| 13 | | for the bond issuance at an election held on or after April |
| 14 | | 4, 2017. |
| 15 | | (2) Prior to the issuance of the bonds, the school |
| 16 | | board determines, by resolution, that (i) the additions and |
| 17 | | renovations to the Brook Park Elementary and S. E. Gross |
| 18 | | Middle School buildings are required to accommodate |
| 19 | | enrollment growth, replace outdated facilities, and create |
| 20 | | spaces consistent with 21st century learning and (ii) the |
| 21 | | issuance of the bonds is authorized by a statute that |
| 22 | | exempts the debt incurred on the bonds from the district's |
| 23 | | statutory debt limitation. |
| 24 | | (3) The bonds are issued, in one or more issuances, not |
| 25 | | later than 5 years after the date of the referendum |
| 26 | | approving the issuance of the bonds, but the aggregate |
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| 1 | | principal amount issued in all such bond issuances combined |
| 2 | | must not exceed $20,000,000. |
| 3 | | (4) The bonds are issued in accordance with this |
| 4 | | Article. |
| 5 | | (5) The proceeds of the bonds are used to accomplish |
| 6 | | only those projects approved by the voters at an election |
| 7 | | held on or after April 4, 2017. |
| 8 | | The debt incurred on any bonds issued under this subsection |
| 9 | | (p-135) and on any bonds issued to refund or continue to refund |
| 10 | | such bonds shall not be considered indebtedness for purposes of |
| 11 | | any statutory debt limitation. |
| 12 | | (p-140) The debt incurred on any bonds issued by Wolf |
| 13 | | Branch School District 113 under Section 17-2.11 of this Code |
| 14 | | for the purpose of repairing or replacing all or a portion of a |
| 15 | | school building that has been damaged by mine subsidence in an |
| 16 | | aggregate principal amount not to exceed $17,500,000 and on any |
| 17 | | bonds issued to refund or continue to refund those bonds shall |
| 18 | | not be considered indebtedness for purposes of any statutory |
| 19 | | debt limitation and must mature no later than 25 years from the |
| 20 | | date of issuance, notwithstanding any other provision of law to |
| 21 | | the contrary, including Section 19-3 of this Code. The maximum |
| 22 | | allowable amount of debt exempt from statutory debt limitations |
| 23 | | under this subsection (p-140) shall be reduced by an amount |
| 24 | | equal to any grants awarded by the State Board of Education or |
| 25 | | Capital Development Board for the explicit purpose of repairing |
| 26 | | or reconstructing a school building damaged by mine subsidence. |
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| 1 | | (p-145) In addition to all other authority to issue bonds, |
| 2 | | Greenview Community Unit School District 200 may issue bonds |
| 3 | | with an aggregate principal amount not to exceed $3,500,000, |
| 4 | | but only if of all the following conditions are met: |
| 5 | | (1) The voters of the district approve a proposition |
| 6 | | for the bond issuance at an election held on March 17, |
| 7 | | 2020. |
| 8 | | (2) Prior to the issuance of the bonds, the school |
| 9 | | board determines, by resolution, that the bonding is |
| 10 | | necessary for construction and expansion of the district's |
| 11 | | kindergarten through grade 12 facility. |
| 12 | | (3) The bonds are issued in accordance with this |
| 13 | | Article. |
| 14 | | (4) The proceeds of the bonds are used to accomplish |
| 15 | | only the projects approved by the voters at an election |
| 16 | | held on March 17, 2020. |
| 17 | | The debt incurred on any bonds issued under this subsection |
| 18 | | (p-145) and on any bonds issued to refund or continue to refund |
| 19 | | such bonds shall not be considered indebtedness for purposes of |
| 20 | | any statutory debt limitation. Bonds issued under this |
| 21 | | subsection (p-145) and any bonds issued to refund or continue |
| 22 | | to refund such bonds must mature within not to exceed 25 years |
| 23 | | from their date, notwithstanding any other law, including |
| 24 | | Section 19-3 of this Code, to the contrary. |
| 25 | | (p-150) In addition to all other authority to issue bonds, |
| 26 | | Komarek School District 94 may issue bonds with an aggregate |
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| 1 | | principal amount not to exceed $20,800,000, but only if all of |
| 2 | | the following conditions are met: |
| 3 | | (1) The voters of the district approve a proposition |
| 4 | | for the bond issuance at an election held on or after March |
| 5 | | 17, 2020. |
| 6 | | (2) Prior to the issuance of the bonds, the school |
| 7 | | board determines, by resolution, that (i) building and |
| 8 | | equipping additions to, altering, repairing, equipping, or |
| 9 | | demolishing a portion of, or improving the site of the |
| 10 | | district's existing school building is required as a result |
| 11 | | of the age and condition of the existing building and (ii) |
| 12 | | the issuance of the bonds is authorized by a statute that |
| 13 | | exempts the debt incurred on the bonds from the district's |
| 14 | | statutory debt limitation. |
| 15 | | (3) The bonds are issued, in one or more issuances, no |
| 16 | | later than 5 years after the date of the referendum |
| 17 | | approving the issuance of the bonds, but the aggregate |
| 18 | | principal amount issued in all of the bond issuances |
| 19 | | combined may not exceed $20,800,000. |
| 20 | | (4) The bonds are issued in accordance with this |
| 21 | | Article. |
| 22 | | (5) The proceeds of the bonds are used to accomplish |
| 23 | | only those projects approved by the voters at an election |
| 24 | | held on or after March 17, 2020. |
| 25 | | The debt incurred on any bonds issued under this subsection |
| 26 | | (p-150) and on any bonds issued to refund or continue to refund |
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| 1 | | those bonds may not be considered indebtedness for purposes of |
| 2 | | any statutory debt limitation. Notwithstanding any other law to |
| 3 | | the contrary, including Section 19-3, bonds issued under this |
| 4 | | subsection (p-150) and any bonds issued to refund or continue |
| 5 | | to refund those bonds must mature within 30 years from their |
| 6 | | date of issuance. |
| 7 | | (p-155) In addition to all other authority to issue bonds, |
| 8 | | Williamsville Community Unit School District 15 may issue bonds |
| 9 | | with an aggregate principal amount not to exceed $40,000,000, |
| 10 | | but only if all of the following conditions are met: |
| 11 | | (1) The voters of the school district approve a |
| 12 | | proposition for the bond issuance at an election held on |
| 13 | | March 17, 2020. |
| 14 | | (2) Prior to the issuance of the bonds, the school |
| 15 | | board determines, by resolution, that the projects set |
| 16 | | forth in the proposition for the bond issuance were and are |
| 17 | | required because of the age and condition of the school |
| 18 | | district's existing school buildings. |
| 19 | | (3) The bonds are issued in accordance with this |
| 20 | | Article. |
| 21 | | (4) The proceeds of the bonds are used to accomplish |
| 22 | | only the projects approved by the voters at an election |
| 23 | | held on March 17, 2020. |
| 24 | | The debt incurred on any bonds issued under this subsection |
| 25 | | (p-155) and on any bonds issued to refund or continue to refund |
| 26 | | such bonds shall not be considered indebtedness for purposes of |
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| 1 | | any statutory debt limitation. Bonds issued under this |
| 2 | | subsection (p-155) and any bonds issued to refund or continue |
| 3 | | to refund such bonds must mature within not to exceed 25 years |
| 4 | | from their date, notwithstanding any other law, including |
| 5 | | Section 19-3 of this Code, to the contrary. |
| 6 | | (p-160) In addition to all other authority to issue bonds, |
| 7 | | Berkeley School District 87 may issue bonds with an aggregate |
| 8 | | principal amount not to exceed $105,000,000, but only if all of |
| 9 | | the following conditions are met: |
| 10 | | (1) The voters of the district approve a proposition |
| 11 | | for the bond issuance at the general primary election held |
| 12 | | on March 17, 2020. |
| 13 | | (2) Prior to the issuance of the bonds, the school |
| 14 | | board determines, by resolution, that (i) building and |
| 15 | | equipping a school building to replace the Sunnyside |
| 16 | | Intermediate and MacArthur Middle School buildings; |
| 17 | | building and equipping additions to and altering, |
| 18 | | repairing, and equipping the Riley Intermediate and |
| 19 | | Northlake Middle School buildings; altering, repairing, |
| 20 | | and equipping the Whittier Primary and Jefferson Primary |
| 21 | | School buildings; improving sites; renovating |
| 22 | | instructional spaces; providing STEM (science, technology, |
| 23 | | engineering, and mathematics) labs; and constructing life |
| 24 | | safety, security, and infrastructure improvements are |
| 25 | | required to replace outdated facilities and to provide safe |
| 26 | | spaces consistent with 21st century learning and (ii) the |
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| 1 | | issuance of bonds is authorized by a statute that exempts |
| 2 | | the debt incurred on the bonds from the district's |
| 3 | | statutory debt limitation. |
| 4 | | (3) The bonds are issued, in one or more issuances, not |
| 5 | | later than 5 years after the date of the referendum |
| 6 | | approving the issuance of the bonds, but the aggregate |
| 7 | | principal amount issued in all such bond issuances combined |
| 8 | | must not exceed $105,000,000. |
| 9 | | (4) The bonds are issued in accordance with this |
| 10 | | Article. |
| 11 | | (5) The proceeds of the bonds are used to accomplish |
| 12 | | only those projects approved by the voters at the general |
| 13 | | primary election held on March 17, 2020. |
| 14 | | The debt incurred on any bonds issued under this subsection |
| 15 | | (p-160) and on any bonds issued to refund or continue to refund |
| 16 | | such bonds shall not be considered indebtedness for purposes of |
| 17 | | any statutory debt limitation. |
| 18 | | (p-165) In addition to all other authority to issue bonds, |
| 19 | | Elmwood Park
Community Unit School District 401 may issue bonds |
| 20 | | with an aggregate principal amount
not to exceed $55,000,000, |
| 21 | | but only if all of the following conditions are met: |
| 22 | | (1) The voters of the district approve a proposition |
| 23 | | for the bond issuance at an election held
on or after March |
| 24 | | 17, 2020. |
| 25 | | (2) Prior to the issuance of the bonds, the school |
| 26 | | board determines, by resolution, that (i) the
building and |
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| 1 | | equipping of an addition to the John Mills Elementary |
| 2 | | School building; the
renovating, altering, repairing, and |
| 3 | | equipping of the John Mills and Elmwood Elementary School
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| 4 | | buildings; the installation of safety and security |
| 5 | | improvements; and the improvement of school
sites are |
| 6 | | required as a result of the age and condition of the |
| 7 | | district's existing school buildings and
(ii) the issuance |
| 8 | | of bonds is authorized by a statute that exempts the debt |
| 9 | | incurred on the bonds
from the district's statutory debt |
| 10 | | limitation. |
| 11 | | (3) The bonds are issued, in one or more issuances, not |
| 12 | | later than 5 years after the date of
the referendum |
| 13 | | approving the issuance of the bonds, but the aggregate |
| 14 | | principal amount issued in
all such bond issuances combined |
| 15 | | must not exceed $55,000,000. |
| 16 | | (4) The bonds are issued in accordance with this |
| 17 | | Article. |
| 18 | | (5) The proceeds of the bonds are used to accomplish |
| 19 | | only the projects approved by the
voters at an election |
| 20 | | held on or after March 17, 2020. |
| 21 | | The debt incurred on any bonds issued under this subsection |
| 22 | | (p-165) and on any bonds issued to refund or continue to refund |
| 23 | | such bonds shall not be considered indebtedness for purposes of |
| 24 | | any statutory debt limitation. Bonds issued under this |
| 25 | | subsection (p-165) and any bonds issued to refund or continue |
| 26 | | to refund such bonds must mature within not to exceed 25 years |
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| 1 | | from their date, notwithstanding any other law, including |
| 2 | | Section 19-3 of this Code, to the contrary. |
| 3 | | (p-170) In addition to all other authority to issue bonds, |
| 4 | | Maroa-Forsyth Community Unit School District 2 may issue bonds |
| 5 | | with an aggregate principal amount not to exceed $33,000,000, |
| 6 | | but only if all of the following conditions are met: |
| 7 | | (1) The voters of the school district approve a |
| 8 | | proposition for the bond issuance at an election held on |
| 9 | | March 17, 2020. |
| 10 | | (2) Prior to the issuance of the bonds, the school |
| 11 | | board determines, by resolution, that the projects set |
| 12 | | forth in the proposition for the bond issuance were and are |
| 13 | | required because of the age and condition of the school |
| 14 | | district's existing school buildings. |
| 15 | | (3) The bonds are issued in accordance with this |
| 16 | | Article. |
| 17 | | (4) The proceeds of the bonds are used to accomplish |
| 18 | | only the projects approved by the voters at an election |
| 19 | | held on March 17, 2020. |
| 20 | | The debt incurred on any bonds issued under this subsection |
| 21 | | (p-170) and on any bonds issued to refund or continue to refund |
| 22 | | such bonds shall not be considered indebtedness for purposes of |
| 23 | | any statutory debt limitation. Bonds issued under this |
| 24 | | subsection (p-170) and any bonds issued to refund or continue |
| 25 | | to refund such bonds must mature within not to exceed 25 years |
| 26 | | from their date, notwithstanding any other law, including |
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| 1 | | Section 19-3 of this Code, to the contrary. |
| 2 | | (p-175) In addition to all other authority to issue bonds, |
| 3 | | Schiller Park School District 81 may issue bonds with an |
| 4 | | aggregate principal amount not to exceed $30,000,000, but only |
| 5 | | if all of the following conditions are met: |
| 6 | | (1) The voters of the district approve a proposition |
| 7 | | for the bond issuance at an election held on or after March |
| 8 | | 17, 2020. |
| 9 | | (2) Prior to the issuance of the bonds, the school |
| 10 | | board determines, by resolution, that (i) building and |
| 11 | | equipping a school building to replace the Washington |
| 12 | | Elementary School building, installing fire suppression |
| 13 | | systems, security systems, and federal Americans with |
| 14 | | Disability Act of 1990 compliance measures, acquiring |
| 15 | | land, and improving the site are required to accommodate |
| 16 | | enrollment growth, replace an outdated facility, and |
| 17 | | create spaces consistent with 21st century learning and |
| 18 | | (ii) the issuance of bonds is authorized by a statute that |
| 19 | | exempts the debt incurred on the bonds from the district's |
| 20 | | statutory debt limitation. |
| 21 | | (3) The bonds are issued, in one or more issuances, not |
| 22 | | later than 5 years after the date of the referendum |
| 23 | | approving the issuance of the bonds, but the aggregate |
| 24 | | principal amount issued in all such bond issuances combined |
| 25 | | must not exceed $30,000,000. |
| 26 | | (4) The bonds are issued in accordance with this |
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| 1 | | Article. |
| 2 | | (5) The proceeds of the bonds are used to accomplish |
| 3 | | only the projects approved by the voters at an election |
| 4 | | held on or after March 17, 2020. |
| 5 | | The debt incurred on any bonds issued under this subsection |
| 6 | | (p-175) and on any bonds issued to refund or continue to refund |
| 7 | | such bonds shall not be considered indebtedness for purposes of |
| 8 | | any statutory debt limitation. Bonds issued under this |
| 9 | | subsection (p-175) and any bonds issued to refund or continue |
| 10 | | to refund such bonds must mature within not to exceed 27 years |
| 11 | | from their date, notwithstanding any other law, including |
| 12 | | Section 19-3 of this Code, to the contrary. |
| 13 | | (q) A school district must notify the State Board of |
| 14 | | Education prior to issuing any form of long-term or short-term |
| 15 | | debt that will result in outstanding debt that exceeds 75% of |
| 16 | | the debt limit specified in this Section or any other provision |
| 17 | | of law.
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| 18 | | (Source: P.A. 99-78, eff. 7-20-15; 99-143, eff. 7-27-15; |
| 19 | | 99-390, eff. 8-18-15; 99-642, eff. 7-28-16; 99-735, eff. |
| 20 | | 8-5-16; 99-926, eff. 1-20-17, 100-503, eff. 6-1-18; 100-531, |
| 21 | | eff. 9-22-17; 100-650, eff. 7-31-18; 100-863, eff. 8-14-18.)
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| 22 | | Section 99. Effective date. This Act takes effect upon |
| 23 | | becoming law.".
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