Bill Title: Amends the School Code. In a Section concerning the debt limitations of school districts, allows Belle Valley School District 119 to issue bonds with an aggregate principal amount not to exceed $47,500,000 if, among other conditions, (i) the voters of the school district approve a proposition for the bond issuance at an election held on or after April 7, 2009; (ii) the building and equipping of a new school building is required as a result of mine subsidence in an existing school building and because of the age and condition of another existing school building; and (iii) the bonds are issued on or before December 31, 2013. Provides that the bonds must mature within not to exceed 40 years from their date, notwithstanding any other law to the contrary. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2009-07-23 - Public Act . . . . . . . . . 96-0063 [SB1293 Detail]

Text: Latest bill text (Enrolled) [HTML]

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