Illinois Senate Bill 2274 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 27 2016 - 25% progression, died in committee
Action: 2016-04-08 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the School Code with respect to the debt limitations of school districts. Allows Hillsboro Community Unit School District 3 to issue bonds with an aggregate principal amount not to exceed $34,500,000 if, among other conditions, (i) the voters of the district approve a proposition for the bond issuance at an election held on or after March 15, 2016; (ii) prior to the issuance of the bonds, the school board determines that altering, repairing, and equipping the high school agricultural/vocational building, demolishing the high school main, cafeteria, and gym buildings, building and equipping a school building, and improving sites are required as a result of the age and condition of the district's existing buildings; and (iii) the bonds are issued, in one or more issuances, not later than 5 years after the date of the referendum approving the issuance of the bonds. Provides that the debt incurred on the bonds and any refunding bonds shall not be considered indebtedness for purposes of any statutory debt limitation and such bonds must mature within not to exceed 25 years from their date. Effective immediately.

SCH CD-DEBT LIMIT-HILLSBORO

Sen. Andy Manar [D]

Date	Chamber	Action
2016-04-08	Senate	Rule 3-9(a) / Re-referred to Assignments
2016-03-09	Senate	Postponed - Education
2016-02-03	Senate	Assigned to Education
2016-01-27	Senate	Referred to Assignments
2016-01-27	Senate	First Reading
2016-01-27	Senate	Filed with Secretary by Sen. Andy Manar

Chapter	Article	Section	Citation Type	Statute Text
105	5	19-1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2274&GAID=13&DocTypeID=SB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/SB/09900SB2274.htm