Bill Title: Amends the School Code with respect to the debt limitations of school districts. Allows Bureau Valley Community Unit School District 340 to issue bonds with an aggregate principal amount not to exceed $25,000,000 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 the renovating and equipping of some existing school buildings, the building and equipping of new school buildings, and the demolishing of some existing school buildings are required as a result of the age and condition of existing school buildings; and (iii) the bonds are issued, in one or more issuances, on or before July 1, 2021. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and the bonds must mature within not to exceed 30 years from their date. Effective immediately.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2016-04-22 - Rule 19(a) / Re-referred to Rules Committee [HB4472 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2016-01-20	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4472

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4472 currently on file.

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