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| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB1754 Introduced , by Rep. Jim Durkin SYNOPSIS AS INTRODUCED:
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Amends the School Code. Makes a technical change in a Section concerning
debt
limitations of school districts.
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| | A BILL FOR |
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1 | | AN ACT concerning education.
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2 | | Be it enacted by the People of the State of Illinois, |
3 | | represented in the General Assembly:
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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 the |
9 | | provisions limiting their
indebtedness prescribed in the Local |
10 | | Government 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 |
17 | | that
is produced by multiplying the school district's 1978 |
18 | | equalized assessed
valuation by the debt limitation percentage |
19 | | in effect on January 1, 1979,
previous to the incurring of such |
20 | | indebtedness.
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21 | | No school districts maintaining grades K through 12 shall |
22 | | become
indebted in any manner or for any purpose to an amount, |
23 | | including
existing indebtedness, in the aggregate exceeding |
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1 | | 13.8% on the value of
the taxable property therein to be |
2 | | ascertained by the last assessment
for State and county taxes |
3 | | or, until January 1, 1983, if greater, the sum that
is produced |
4 | | by multiplying the school district's 1978 equalized assessed
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5 | | valuation by the debt limitation percentage in effect on |
6 | | January 1, 1979,
previous to the incurring of such |
7 | | indebtedness.
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8 | | No partial elementary unit district, as defined in Article |
9 | | 11E of this Code, shall become indebted in any manner or for |
10 | | any purpose in an amount, including existing indebtedness, in |
11 | | the aggregate exceeding 6.9% of the value of the taxable |
12 | | property of the entire district, to be ascertained by the last |
13 | | assessment for State and county taxes, plus an amount, |
14 | | including existing indebtedness, in the aggregate exceeding |
15 | | 6.9% of the value of the taxable property of that portion of |
16 | | the district included in the elementary and high school |
17 | | classification, to be ascertained by the last assessment for |
18 | | State and county taxes. Moreover, no partial elementary unit |
19 | | district, as defined in Article 11E of this Code, shall become |
20 | | indebted on account of bonds issued by the district for high |
21 | | school purposes in the aggregate exceeding 6.9% of the value of |
22 | | the taxable property of the entire district, to be ascertained |
23 | | by the last assessment for State and county taxes, nor shall |
24 | | the district become indebted on account of bonds issued by the |
25 | | district for elementary purposes in the aggregate exceeding |
26 | | 6.9% of the value of the taxable property for that portion of |
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1 | | the district included in the elementary and high school |
2 | | classification, to be ascertained by the last assessment for |
3 | | State and county taxes.
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4 | | Notwithstanding the provisions of any other law to the |
5 | | contrary, in any
case in which the voters of a school district |
6 | | have approved a proposition
for the issuance of bonds of such |
7 | | school district at an election held prior
to January 1, 1979, |
8 | | and all of the bonds approved at such election have
not been |
9 | | issued, the debt limitation applicable to such school district
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10 | | during the calendar year 1979 shall be computed by multiplying |
11 | | the value
of taxable property therein, including personal |
12 | | property, as ascertained
by the last assessment for State and |
13 | | county taxes, previous to the incurring
of such indebtedness, |
14 | | by the percentage limitation applicable to such school
district |
15 | | under the provisions of this subsection (a).
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16 | | (a-5) After January 1, 2018, no school district may issue |
17 | | bonds under Sections 19-2 through 19-7 of this Code and rely on |
18 | | an exception to the debt limitations in this Section unless it |
19 | | has complied with the requirements of Section 21 of the Bond |
20 | | Issue Notification Act and the bonds have been approved by |
21 | | referendum. |
22 | | (b) Notwithstanding the debt limitation prescribed in |
23 | | subsection (a)
of this Section, additional indebtedness may be |
24 | | incurred in an amount
not to exceed the estimated cost of |
25 | | acquiring or improving school sites
or constructing and |
26 | | equipping additional building facilities under the
following |
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1 | | conditions:
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2 | | (1) Whenever the enrollment of students for the next |
3 | | school year is
estimated by the board of education to |
4 | | increase over the actual present
enrollment by not less |
5 | | than 35% or by not less than 200 students or the
actual |
6 | | present enrollment of students has increased over the |
7 | | previous
school year by not less than 35% or by not less |
8 | | than 200 students and
the board of education determines |
9 | | that additional school sites or
building facilities are |
10 | | required as a result of such increase in
enrollment; and
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11 | | (2) When the Regional Superintendent of Schools having |
12 | | jurisdiction
over the school district and the State |
13 | | Superintendent of Education
concur in such enrollment |
14 | | projection or increase and approve the need
for such |
15 | | additional school sites or building facilities and the
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16 | | estimated cost thereof; and
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17 | | (3) When the voters in the school district approve a |
18 | | proposition for
the issuance of bonds for the purpose of |
19 | | acquiring or improving such
needed school sites or |
20 | | constructing and equipping such needed additional
building |
21 | | facilities at an election called and held for that purpose.
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22 | | Notice of such an election shall state that the amount of |
23 | | indebtedness
proposed to be incurred would exceed the debt |
24 | | limitation otherwise
applicable to the school district. |
25 | | The ballot for such proposition
shall state what percentage |
26 | | of the equalized assessed valuation will be
outstanding in |
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1 | | bonds if the proposed issuance of bonds is approved by
the |
2 | | voters; or
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3 | | (4) Notwithstanding the provisions of paragraphs (1) |
4 | | through (3) of
this subsection (b), if the school board |
5 | | determines that additional
facilities are needed to |
6 | | provide a quality educational program and not
less than 2/3 |
7 | | of those voting in an election called by the school board
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8 | | on the question approve the issuance of bonds for the |
9 | | construction of
such facilities, the school district may |
10 | | issue bonds for this
purpose; or
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11 | | (5) Notwithstanding the provisions of paragraphs (1) |
12 | | through (3) of this
subsection (b), if (i) the school |
13 | | district has previously availed itself of the
provisions of |
14 | | paragraph (4) of this subsection (b) to enable it to issue |
15 | | bonds,
(ii) the voters of the school district have not |
16 | | defeated a proposition for the
issuance of bonds since the |
17 | | referendum described in paragraph (4) of this
subsection |
18 | | (b) was held, (iii) the school board determines that |
19 | | additional
facilities are needed to provide a quality |
20 | | educational program, and (iv) a
majority of those voting in |
21 | | an election called by the school board on the
question |
22 | | approve the issuance of bonds for the construction of such |
23 | | facilities,
the school district may issue bonds for this |
24 | | purpose.
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25 | | In no event shall the indebtedness incurred pursuant to |
26 | | this
subsection (b) and the existing indebtedness of the school |
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1 | | district
exceed 15% of the value of the taxable property |
2 | | therein to be
ascertained by the last assessment for State and |
3 | | county taxes, previous
to the incurring of such indebtedness |
4 | | or, until January 1, 1983, if greater,
the sum that is produced |
5 | | by multiplying the school district's 1978 equalized
assessed |
6 | | valuation by the debt limitation percentage in effect on |
7 | | January 1,
1979.
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8 | | The indebtedness provided for by this subsection (b) shall |
9 | | be in
addition to and in excess of any other debt limitation.
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10 | | (c) Notwithstanding the debt limitation prescribed in |
11 | | subsection (a)
of this Section, in any case in which a public |
12 | | question for the issuance
of bonds of a proposed school |
13 | | district maintaining grades kindergarten
through 12 received |
14 | | at least 60% of the valid ballots cast on the question at
an |
15 | | election held on or prior to November 8, 1994, and in which the |
16 | | bonds
approved at such election have not been issued, the |
17 | | school district pursuant to
the requirements of Section 11A-10 |
18 | | (now repealed) may issue the total amount of bonds approved
at |
19 | | such election for the purpose stated in the question.
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20 | | (d) Notwithstanding the debt limitation prescribed in |
21 | | subsection (a)
of this Section, a school district that meets |
22 | | all the criteria set forth in
paragraphs (1) and (2) of this |
23 | | subsection (d) may incur an additional
indebtedness in an |
24 | | amount not to exceed $4,500,000, even though the amount of
the |
25 | | additional indebtedness authorized by this subsection (d), |
26 | | when incurred
and added to the aggregate amount of indebtedness |
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1 | | of the district existing
immediately prior to the district |
2 | | incurring the additional indebtedness
authorized by this |
3 | | subsection (d), causes the aggregate indebtedness of the
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4 | | district to exceed the debt limitation otherwise applicable to |
5 | | that district
under subsection (a):
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6 | | (1) The additional indebtedness authorized by this |
7 | | subsection (d) is
incurred by the school district through |
8 | | the issuance of bonds under and in
accordance with Section |
9 | | 17-2.11a for the purpose of replacing a school
building |
10 | | which, because of mine subsidence damage, has been closed |
11 | | as provided
in paragraph (2) of this subsection (d) or |
12 | | through the issuance of bonds under
and in accordance with |
13 | | Section 19-3 for the purpose of increasing the size of,
or |
14 | | providing for additional functions in, such replacement |
15 | | school buildings, or
both such purposes.
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16 | | (2) The bonds issued by the school district as provided |
17 | | in paragraph (1)
above are issued for the purposes of |
18 | | construction by the school district of
a new school |
19 | | building pursuant to Section 17-2.11, to replace an |
20 | | existing
school building that, because of mine subsidence |
21 | | damage, is closed as of the
end of the 1992-93 school year |
22 | | pursuant to action of the regional
superintendent of |
23 | | schools of the educational service region in which the
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24 | | district is located under Section 3-14.22 or are issued for |
25 | | the purpose of
increasing the size of, or providing for |
26 | | additional functions in, the new
school building being |
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1 | | constructed to replace a school building closed as the
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2 | | result of mine subsidence damage, or both such purposes.
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3 | | (e) (Blank).
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4 | | (f) Notwithstanding the provisions of subsection (a) of |
5 | | this Section or of
any other law, bonds in not to exceed the |
6 | | aggregate amount of $5,500,000 and
issued by a school district |
7 | | meeting the following criteria shall not be
considered |
8 | | indebtedness for purposes of any statutory limitation and may |
9 | | be
issued in an amount or amounts, including existing |
10 | | indebtedness, in excess of
any heretofore or hereafter imposed |
11 | | statutory limitation as to indebtedness:
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12 | | (1) At the time of the sale of such bonds, the board of |
13 | | education of the
district shall have determined by |
14 | | resolution that the enrollment of students in
the district |
15 | | is projected to increase by not less than 7% during each of |
16 | | the
next succeeding 2 school years.
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17 | | (2) The board of education shall also determine by |
18 | | resolution that the
improvements to be financed with the |
19 | | proceeds of the bonds are needed because
of the projected |
20 | | enrollment increases.
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21 | | (3) The board of education shall also determine by |
22 | | resolution that the
projected increases in enrollment are |
23 | | the result of improvements made or
expected to be made to |
24 | | passenger rail facilities located in the school
district.
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25 | | Notwithstanding the provisions of subsection (a) of this |
26 | | Section or of any other law, a school district that has availed |
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1 | | itself of the provisions of this subsection (f) prior to July |
2 | | 22, 2004 (the effective date of Public Act 93-799) may also |
3 | | issue bonds approved by referendum up to an amount, including |
4 | | existing indebtedness, not exceeding 25% of the equalized |
5 | | assessed value of the taxable property in the district if all |
6 | | of the conditions set forth in items (1), (2), and (3) of this |
7 | | subsection (f) are met.
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8 | | (g) Notwithstanding the provisions of subsection (a) of |
9 | | this Section or any
other law, bonds in not to exceed an |
10 | | aggregate amount of 25% of the equalized
assessed value of the |
11 | | taxable property of a school district and issued by a
school |
12 | | district meeting the criteria in paragraphs (i) through (iv) of |
13 | | this
subsection shall not be considered indebtedness for |
14 | | purposes of any statutory
limitation and may be issued pursuant |
15 | | to resolution of the school board in an
amount or amounts, |
16 | | including existing indebtedness, in
excess of any statutory |
17 | | limitation of indebtedness heretofore or hereafter
imposed:
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18 | | (i) The bonds are issued for the purpose of |
19 | | constructing a new high school
building to replace two |
20 | | adjacent existing buildings which together house a
single |
21 | | high school, each of which is more than 65 years old, and |
22 | | which together
are located on more than 10 acres and less |
23 | | than 11 acres of property.
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24 | | (ii) At the time the resolution authorizing the |
25 | | issuance of the bonds is
adopted, the cost of constructing |
26 | | a new school building to replace the existing
school |
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1 | | building is less than 60% of the cost of repairing the |
2 | | existing school
building.
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3 | | (iii) The sale of the bonds occurs before July 1, 1997.
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4 | | (iv) The school district issuing the bonds is a unit |
5 | | school district
located in a county of less than 70,000 and |
6 | | more than 50,000 inhabitants,
which has an average daily |
7 | | attendance of less than 1,500 and an equalized
assessed |
8 | | valuation of less than $29,000,000.
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9 | | (h) Notwithstanding any other provisions of this Section or |
10 | | the
provisions of any other law, until January 1, 1998, a |
11 | | community unit school
district maintaining grades K through 12 |
12 | | may issue bonds up to an amount,
including existing |
13 | | indebtedness, not exceeding 27.6% of the equalized assessed
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14 | | value of the taxable property in the district, if all of the |
15 | | following
conditions are met:
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16 | | (i) The school district has an equalized assessed |
17 | | valuation for calendar
year 1995 of less than $24,000,000;
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18 | | (ii) The bonds are issued for the capital improvement, |
19 | | renovation,
rehabilitation, or replacement of existing |
20 | | school buildings of the district,
all of which buildings |
21 | | were originally constructed not less than 40 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 | | March 19, 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 | | (i) Notwithstanding any other provisions of this Section or |
2 | | the provisions
of any other law, until January 1, 1998, 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 |
7 | | following 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 $44,600,000;
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10 | | (ii) The bonds are issued for the capital improvement, |
11 | | renovation,
rehabilitation, or replacement
of existing |
12 | | school buildings of the district, all of which
existing |
13 | | buildings were originally constructed not less than 80 |
14 | | 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 after |
17 | | December 31, 1996; 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 | | (j) Notwithstanding any other provisions of this Section or |
21 | | the
provisions of any other law, until January 1, 1999, a |
22 | | community unit school
district maintaining grades K through 12 |
23 | | may issue bonds up to an amount,
including existing |
24 | | indebtedness, not exceeding 27% of the equalized assessed
value |
25 | | of the taxable property in the district if all of the following
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26 | | conditions are met:
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1 | | (i) The school district has an equalized assessed |
2 | | valuation for calendar
year 1995 of less than $140,000,000 |
3 | | and a best 3 months
average daily
attendance for the |
4 | | 1995-96 school year of at least 2,800;
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5 | | (ii) The bonds are issued to purchase a site and build |
6 | | and equip a new
high school, and the school district's |
7 | | existing high school was originally
constructed not less |
8 | | than 35
years prior to the sale of the bonds;
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9 | | (iii) At the time of the sale of the bonds, the board |
10 | | of education
determines
by resolution that a new high |
11 | | school is needed because of projected enrollment
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12 | | increases;
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13 | | (iv) At least 60% of those voting in an election held
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14 | | after December 31, 1996 approve a proposition
for the |
15 | | issuance of
the bonds; and
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16 | | (v) The bonds are issued pursuant to Sections 19-2 |
17 | | through
19-7 of this Code.
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18 | | (k) Notwithstanding the debt limitation prescribed in |
19 | | subsection (a) of
this Section, a school district that meets |
20 | | all the criteria set forth in
paragraphs (1) through (4) of |
21 | | this subsection (k) may issue bonds to incur an
additional |
22 | | indebtedness in an amount not to exceed $4,000,000 even though |
23 | | the
amount of the additional indebtedness authorized by this |
24 | | subsection (k), when
incurred and added to the aggregate amount |
25 | | of indebtedness of the school
district existing immediately |
26 | | prior to the school district incurring such
additional |
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1 | | indebtedness, causes the aggregate indebtedness of the school
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2 | | district to exceed or increases the amount by which the |
3 | | aggregate indebtedness
of the district already exceeds the debt |
4 | | limitation otherwise applicable to
that school district under |
5 | | subsection (a):
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6 | | (1) the school district is located in 2 counties, and a |
7 | | referendum to
authorize the additional indebtedness was |
8 | | approved by a majority of the voters
of the school district |
9 | | voting on the proposition to authorize that
indebtedness;
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10 | | (2) the additional indebtedness is for the purpose of |
11 | | financing a
multi-purpose room addition to the existing |
12 | | high school;
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13 | | (3) the additional indebtedness, together with the |
14 | | existing indebtedness
of the school district, shall not |
15 | | exceed 17.4% of the value of the taxable
property in the |
16 | | school district, to be ascertained by the last assessment |
17 | | for
State and county taxes; and
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18 | | (4) the bonds evidencing the additional indebtedness |
19 | | are issued, if at
all, within 120 days of August 14, 1998 |
20 | | (the effective date of Public Act 90-757).
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21 | | (l) Notwithstanding any other provisions of this Section or |
22 | | the
provisions of any other law, until January 1, 2000, a |
23 | | school district
maintaining grades kindergarten through 8 may |
24 | | issue bonds up to an amount,
including existing indebtedness, |
25 | | not exceeding 15% of the equalized assessed
value of the |
26 | | taxable property in the district if all of the following
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1 | | conditions are met:
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2 | | (i) the district has an equalized assessed valuation |
3 | | for calendar year
1996 of less than $10,000,000;
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4 | | (ii) the bonds are issued for capital improvement, |
5 | | renovation,
rehabilitation, or replacement of one or more |
6 | | school buildings of the district,
which buildings were |
7 | | originally constructed not less than 70 years ago;
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8 | | (iii) the voters of the district approve a proposition |
9 | | for the issuance of
the bonds at a referendum held on or |
10 | | after March 17, 1998; and
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11 | | (iv) the bonds are issued pursuant to Sections 19-2 |
12 | | through 19-7 of this
Code.
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13 | | (m) Notwithstanding any other provisions of this Section or |
14 | | the provisions
of
any other law, until January 1, 1999, an |
15 | | elementary school district maintaining
grades K through 8 may |
16 | | issue bonds up to an amount, excluding existing
indebtedness, |
17 | | not exceeding 18% of the equalized assessed value of the |
18 | | taxable
property in the district, if all of the following |
19 | | conditions are met:
|
20 | | (i) The school district has an equalized assessed |
21 | | valuation for calendar
year 1995 or less than $7,700,000;
|
22 | | (ii) The school district operates 2 elementary |
23 | | attendance centers that
until
1976 were operated as the |
24 | | attendance centers of 2 separate and distinct school
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25 | | districts;
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26 | | (iii) The bonds are issued for the construction of a |
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1 | | new elementary school
building to replace an existing |
2 | | multi-level elementary school building of the
school |
3 | | district that is not accessible at all levels and parts of
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4 | | which were constructed more than 75 years ago;
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5 | | (iv) The voters of the school district approve a |
6 | | proposition for the
issuance of the bonds at a referendum |
7 | | held after July 1, 1998; and
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8 | | (v) The bonds are issued pursuant to Sections 19-2 |
9 | | through 19-7 of this
Code.
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10 | | (n) Notwithstanding the debt limitation prescribed in |
11 | | subsection (a) of
this Section or any other provisions of this |
12 | | Section or of any other law, a
school district that meets all |
13 | | of the criteria set forth in paragraphs (i)
through (vi) of |
14 | | this subsection (n) may incur additional indebtedness by the
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15 | | issuance of bonds in an amount not exceeding the amount |
16 | | certified by the
Capital Development Board to the school |
17 | | district as provided in paragraph (iii)
of
this subsection (n), |
18 | | even though the amount of the additional indebtedness so
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19 | | authorized, when incurred and added to the aggregate amount of |
20 | | indebtedness of
the district existing immediately prior to the |
21 | | district incurring the
additional indebtedness authorized by |
22 | | this subsection (n), causes the aggregate
indebtedness of the |
23 | | district to exceed the debt limitation otherwise applicable
by |
24 | | law to that district:
|
25 | | (i) The school district applies to the State Board of |
26 | | Education for a
school construction project grant and |
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1 | | submits a district facilities plan in
support
of its |
2 | | application pursuant to Section 5-20 of
the School |
3 | | Construction Law.
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4 | | (ii) The school district's application and facilities |
5 | | plan are approved
by,
and the district receives a grant |
6 | | entitlement for a school construction project
issued by, |
7 | | the State Board of Education under the School Construction |
8 | | Law.
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9 | | (iii) The school district has exhausted its bonding |
10 | | capacity or the unused
bonding capacity of the district is |
11 | | less than the amount certified by the
Capital Development |
12 | | Board to the district under Section 5-15 of the School
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13 | | Construction Law as the dollar amount of the school |
14 | | construction project's cost
that the district will be |
15 | | required to finance with non-grant funds in order to
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16 | | receive a school construction project grant under the |
17 | | School Construction Law.
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18 | | (iv) The bonds are issued for a "school construction |
19 | | project", as that
term is defined in Section 5-5 of the |
20 | | School Construction Law, in an amount
that does not exceed |
21 | | the dollar amount certified, as provided in paragraph
(iii) |
22 | | of this subsection (n), by the Capital Development Board
to |
23 | | the school
district under Section 5-15 of the School |
24 | | Construction Law.
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25 | | (v) The voters of the district approve a proposition |
26 | | for the issuance of
the bonds at a referendum held after |
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1 | | the criteria specified in paragraphs (i)
and (iii) of this |
2 | | subsection (n) are met.
|
3 | | (vi) The bonds are issued pursuant to Sections 19-2 |
4 | | through 19-7 of the
School Code.
|
5 | | (o) Notwithstanding any other provisions of this Section or |
6 | | the
provisions of any other law, until November 1, 2007, a |
7 | | community unit
school district maintaining grades K through 12 |
8 | | may issue bonds up to
an amount, including existing |
9 | | indebtedness, not exceeding 20% of the
equalized assessed value |
10 | | of the taxable property in the district if all of the
following |
11 | | conditions are met:
|
12 | | (i) the school district has an equalized assessed |
13 | | valuation
for calendar year 2001 of at least $737,000,000 |
14 | | and an enrollment
for the 2002-2003 school year of at least |
15 | | 8,500;
|
16 | | (ii) the bonds are issued to purchase school sites, |
17 | | build and
equip a new high school, build and equip a new |
18 | | junior high school,
build and equip 5 new elementary |
19 | | schools, and make technology
and other improvements and |
20 | | additions to existing schools;
|
21 | | (iii) at the time of the sale of the bonds, the board |
22 | | of
education determines by resolution that the sites and |
23 | | new or
improved facilities are needed because of projected |
24 | | enrollment
increases;
|
25 | | (iv) at least 57% of those voting in a general election |
26 | | held
prior to January 1, 2003 approved a proposition for |
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1 | | the issuance of
the bonds; and
|
2 | | (v) the bonds are issued pursuant to Sections 19-2 |
3 | | through
19-7 of this Code.
|
4 | | (p) Notwithstanding any other provisions of this Section or |
5 | | the provisions of any other law, a community unit school |
6 | | district maintaining grades K through 12 may issue bonds up to |
7 | | an amount, including indebtedness, not exceeding 27% of the |
8 | | equalized assessed value of the taxable property in the |
9 | | district if all of the following conditions are met: |
10 | | (i) The school district has an equalized assessed |
11 | | valuation for calendar year 2001 of at least $295,741,187 |
12 | | and a best 3 months' average daily attendance for the |
13 | | 2002-2003 school year of at least 2,394. |
14 | | (ii) The bonds are issued to build and equip 3 |
15 | | elementary school buildings; build and equip one middle |
16 | | school building; and alter, repair, improve, and equip all |
17 | | existing school buildings in the district. |
18 | | (iii) At the time of the sale of the bonds, the board |
19 | | of education determines by resolution that the project is |
20 | | needed because of expanding growth in the school district |
21 | | and a projected enrollment increase. |
22 | | (iv) The bonds are issued pursuant to Sections 19-2 |
23 | | through 19-7 of this Code.
|
24 | | (p-5) Notwithstanding any other provisions of this Section |
25 | | or the provisions of any other law, bonds issued by a community |
26 | | unit school district maintaining grades K through 12 shall not |
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1 | | be considered indebtedness for purposes of any statutory |
2 | | limitation and may be issued in an amount or amounts, including |
3 | | existing indebtedness, in excess of any heretofore or hereafter |
4 | | imposed statutory limitation as to indebtedness, if all of the |
5 | | following conditions are met: |
6 | | (i) For each of the 4 most recent years, residential |
7 | | property comprises more than 80% of the equalized assessed |
8 | | valuation of the district. |
9 | | (ii) At least 2 school buildings that were constructed |
10 | | 40 or more years prior to the issuance of the bonds will be |
11 | | demolished and will be replaced by new buildings or |
12 | | additions to one or more existing buildings. |
13 | | (iii) Voters of the district approve a proposition for |
14 | | the issuance of the bonds at a regularly scheduled |
15 | | election. |
16 | | (iv) At the time of the sale of the bonds, the school |
17 | | board determines by resolution that the new buildings or |
18 | | building additions are needed because of an increase in |
19 | | enrollment projected by the school board. |
20 | | (v) The principal amount of the bonds, including |
21 | | existing indebtedness, does not exceed 25% of the equalized |
22 | | assessed value of the taxable property in the district. |
23 | | (vi) The bonds are issued prior to January 1, 2007, |
24 | | pursuant to Sections 19-2 through 19-7 of this Code.
|
25 | | (p-10) Notwithstanding any other provisions of this |
26 | | Section or the provisions of any other law, bonds issued by a |
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1 | | community consolidated school district maintaining grades K |
2 | | through 8 shall not be considered indebtedness for purposes of |
3 | | any statutory limitation and may be issued in an amount or |
4 | | amounts, including existing indebtedness, in excess of any |
5 | | heretofore or hereafter imposed statutory limitation as to |
6 | | indebtedness, if all of the following conditions are met: |
7 | | (i) For each of the 4 most recent years, residential |
8 | | and farm property comprises more than 80% of the equalized |
9 | | assessed valuation of the district. |
10 | | (ii) The bond proceeds are to be used to acquire and |
11 | | improve school sites and build and equip a school building. |
12 | | (iii) Voters of the district approve a proposition for |
13 | | the issuance of the bonds at a regularly scheduled |
14 | | election. |
15 | | (iv) At the time of the sale of the bonds, the school |
16 | | board determines by resolution that the school sites and |
17 | | building additions are needed because of an increase in |
18 | | enrollment projected by the school board. |
19 | | (v) The principal amount of the bonds, including |
20 | | existing indebtedness, does not exceed 20% of the equalized |
21 | | assessed value of the taxable property in the district. |
22 | | (vi) The bonds are issued prior to January 1, 2007, |
23 | | pursuant to Sections 19-2 through 19-7 of this Code.
|
24 | | (p-15) In addition to all other authority to issue bonds, |
25 | | the Oswego Community Unit School District Number 308 may issue |
26 | | bonds with an aggregate principal amount not to exceed |
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1 | | $450,000,000, but only if all of the following conditions are |
2 | | met: |
3 | | (i) The voters of the district have approved a |
4 | | proposition for the bond issue at the general election held |
5 | | on November 7, 2006. |
6 | | (ii) At the time of the sale of the bonds, the school |
7 | | board determines, by resolution, that: (A) the building and |
8 | | equipping of the new high school building, new junior high |
9 | | school buildings, new elementary school buildings, early |
10 | | childhood building, maintenance building, transportation |
11 | | facility, and additions to existing school buildings, the |
12 | | altering, repairing, equipping, and provision of |
13 | | technology improvements to existing school buildings, and |
14 | | the acquisition and improvement of school sites, as the |
15 | | case may be, are required as a result of a projected |
16 | | increase in the enrollment of students in the district; and |
17 | | (B) the sale of bonds for these purposes is authorized by |
18 | | legislation that exempts the debt incurred on the bonds |
19 | | from the district's statutory debt limitation.
|
20 | | (iii) The bonds are issued, in one or more bond issues, |
21 | | on or before November 7, 2011, but the aggregate principal |
22 | | amount issued in all such bond issues combined must not |
23 | | exceed $450,000,000.
|
24 | | (iv) The bonds are issued in accordance with this |
25 | | Article 19. |
26 | | (v) The proceeds of the bonds are used only to |
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1 | | accomplish those projects approved by the voters at the |
2 | | general election held on November 7, 2006. |
3 | | The debt incurred on any bonds issued under this subsection |
4 | | (p-15) shall not be considered indebtedness for purposes of any |
5 | | statutory debt limitation.
|
6 | | (p-20) In addition to all other authority to issue bonds, |
7 | | the Lincoln-Way Community High School District Number 210 may |
8 | | issue bonds with an aggregate principal amount not to exceed |
9 | | $225,000,000, but only if all of the following conditions are |
10 | | met: |
11 | | (i) The voters of the district have approved a |
12 | | proposition for the bond issue at the general primary |
13 | | election held on March 21, 2006. |
14 | | (ii) At the time of the sale of the bonds, the school |
15 | | board determines, by resolution, that: (A) the building and |
16 | | equipping of the new high school buildings, the altering, |
17 | | repairing, and equipping of existing school buildings, and |
18 | | the improvement of school sites, as the case may be, are |
19 | | required as a result of a projected increase in the |
20 | | enrollment of students in the district; and (B) the sale of |
21 | | bonds for these purposes is authorized by legislation that |
22 | | exempts the debt incurred on the bonds from the district's |
23 | | statutory debt limitation.
|
24 | | (iii) The bonds are issued, in one or more bond issues, |
25 | | on or before March 21, 2011, but the aggregate principal |
26 | | amount issued in all such bond issues combined must not |
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1 | | exceed $225,000,000.
|
2 | | (iv) The bonds are issued in accordance with this |
3 | | Article 19. |
4 | | (v) The proceeds of the bonds are used only to |
5 | | accomplish those projects approved by the voters at the |
6 | | primary election held on March 21, 2006. |
7 | | The debt incurred on any bonds issued under this subsection |
8 | | (p-20) shall not be considered indebtedness for purposes of any |
9 | | statutory debt limitation.
|
10 | | (p-25) In addition to all other authority to issue bonds, |
11 | | Rochester Community Unit School District 3A may issue bonds |
12 | | with an aggregate principal amount not to exceed $18,500,000, |
13 | | but only if all of the following conditions are met: |
14 | | (i) The voters of the district approve a proposition |
15 | | for the bond issuance at the general primary election held |
16 | | in 2008.
|
17 | | (ii) At the time of the sale of the bonds, the school |
18 | | board determines, by resolution, that: (A) the building and |
19 | | equipping of a new high school building; the addition of |
20 | | classrooms and support facilities at the high school, |
21 | | middle school, and elementary school; the altering, |
22 | | repairing, and equipping of existing school buildings; and |
23 | | the improvement of school sites, as the case may be, are |
24 | | required as a result of a projected increase in the |
25 | | enrollment of students in the district; and (B) the sale of |
26 | | bonds for these purposes is authorized by a law that |
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1 | | exempts the debt incurred on the bonds from the district's |
2 | | statutory debt limitation. |
3 | | (iii) The bonds are issued, in one or more bond issues, |
4 | | on or before December 31, 2012, but the aggregate principal |
5 | | amount issued in all such bond issues combined must not |
6 | | exceed $18,500,000. |
7 | | (iv) The bonds are issued in accordance with this |
8 | | Article 19. |
9 | | (v) The proceeds of the bonds are used to accomplish |
10 | | only those projects approved by the voters at the primary |
11 | | election held in 2008.
|
12 | | The debt incurred on any bonds issued under this subsection |
13 | | (p-25) shall not be considered indebtedness for purposes of any |
14 | | statutory debt limitation.
|
15 | | (p-30) In addition to all other authority to issue bonds, |
16 | | Prairie Grove Consolidated School District 46 may issue bonds |
17 | | with an aggregate principal amount not to exceed $30,000,000, |
18 | | but only if all of the following conditions are met:
|
19 | | (i) The voters of the district approve a proposition |
20 | | for the bond issuance at an election held in 2008.
|
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 a new school building and additions to |
24 | | existing school buildings are required as a result of a |
25 | | projected increase in the enrollment of students in the |
26 | | district and (B) the altering, repairing, and equipping of |
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1 | | existing school buildings are required because of the age |
2 | | of the existing school buildings.
|
3 | | (iii) The bonds are issued, in one or more bond |
4 | | issuances, on or before December 31, 2012; however, the |
5 | | aggregate principal amount issued in all such bond |
6 | | issuances combined must not exceed $30,000,000.
|
7 | | (iv) The bonds are issued in accordance with this |
8 | | Article.
|
9 | | (v) The proceeds of the bonds are used to accomplish |
10 | | only those projects approved by the voters at an election |
11 | | held in 2008.
|
12 | | The debt incurred on any bonds issued under this subsection |
13 | | (p-30) shall not be considered indebtedness for purposes of any |
14 | | statutory debt limitation.
|
15 | | (p-35) In addition to all other authority to issue bonds, |
16 | | Prairie Hill Community Consolidated School District 133 may |
17 | | issue bonds with an aggregate principal amount not to exceed |
18 | | $13,900,000, but only if all of the following conditions are |
19 | | met:
|
20 | | (i) The voters of the district approved a proposition |
21 | | for the bond issuance at an election held on April 17, |
22 | | 2007.
|
23 | | (ii) At the time of the sale of the bonds, the school |
24 | | board determines, by resolution, that (A) the improvement |
25 | | of the site of and the building and equipping of a school |
26 | | building are required as a result of a projected increase |
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1 | | in the enrollment of students in the district and (B) the |
2 | | repairing and equipping of the Prairie Hill Elementary |
3 | | School building is required because of the age of that |
4 | | school building.
|
5 | | (iii) The bonds are issued, in one or more bond |
6 | | issuances, on or before December 31, 2011, but the |
7 | | aggregate principal amount issued in all such bond |
8 | | issuances combined must not exceed $13,900,000.
|
9 | | (iv) The bonds are issued in accordance with this |
10 | | Article.
|
11 | | (v) The proceeds of the bonds are used to accomplish |
12 | | only those projects approved by the voters at an election |
13 | | held on April 17, 2007.
|
14 | | The debt incurred on any bonds issued under this subsection |
15 | | (p-35) shall not be considered indebtedness for purposes of any |
16 | | statutory debt limitation.
|
17 | | (p-40) In addition to all other authority to issue bonds, |
18 | | Mascoutah Community Unit District 19 may issue bonds with an |
19 | | aggregate principal amount not to exceed $55,000,000, 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 a regular election held on or |
23 | | after November 4, 2008. |
24 | | (2) At the time of the sale of the bonds, the school |
25 | | board determines, by resolution, that (i) the building and |
26 | | equipping of a new high school building is required as a |
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1 | | result of a projected increase in the enrollment of |
2 | | students in the district and the age and condition of the |
3 | | existing high school building, (ii) the existing high |
4 | | school building will be demolished, and (iii) the sale of |
5 | | bonds is authorized by statute that exempts the debt |
6 | | incurred on the bonds from the district's statutory debt |
7 | | limitation. |
8 | | (3) The bonds are issued, in one or more bond |
9 | | issuances, on or before December 31, 2011, but the |
10 | | aggregate principal amount issued in all such bond |
11 | | issuances combined must not exceed $55,000,000. |
12 | | (4) The bonds are issued in accordance with this |
13 | | Article. |
14 | | (5) The proceeds of the bonds are used to accomplish |
15 | | only those projects approved by the voters at a regular |
16 | | election held on or after November 4, 2008. |
17 | | The debt incurred on any bonds issued under this subsection |
18 | | (p-40) shall not be considered indebtedness for purposes of any |
19 | | statutory debt limitation. |
20 | | (p-45) Notwithstanding the provisions of subsection (a) of |
21 | | this Section or of any other law, bonds issued pursuant to |
22 | | Section 19-3.5 of this Code shall not be considered |
23 | | indebtedness for purposes of any statutory limitation if the |
24 | | bonds are issued in an amount or amounts, including existing |
25 | | indebtedness of the school district, not in excess of 18.5% of |
26 | | the value of the taxable property in the district to be |
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1 | | ascertained by the last assessment for State and county taxes. |
2 | | (p-50) Notwithstanding the provisions of subsection (a) of
|
3 | | this Section or of any other law, bonds issued pursuant to
|
4 | | Section 19-3.10 of this Code shall not be considered
|
5 | | indebtedness for purposes of any statutory limitation if the
|
6 | | bonds are issued in an amount or amounts, including existing
|
7 | | indebtedness of the school district, not in excess of 43% of
|
8 | | the value of the taxable property in the district to be
|
9 | | ascertained by the last assessment for State and county taxes. |
10 | | (p-55) In addition to all other authority to issue bonds, |
11 | | Belle Valley School District 119 may issue bonds with an |
12 | | aggregate principal amount not to exceed $47,500,000, but only |
13 | | if all of the following conditions are met: |
14 | | (1) The voters of the district approve a proposition |
15 | | for the bond issuance at an election held on or after April |
16 | | 7, 2009. |
17 | | (2) Prior to the issuance of the bonds, the school |
18 | | board determines, by resolution, that (i) the building and |
19 | | equipping of a new school building is required as a result |
20 | | of mine subsidence in an existing school building and |
21 | | because of the age and condition of another existing school |
22 | | building and (ii) the issuance of bonds is authorized by |
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 bond |
26 | | issuances, on or before March 31, 2014, but the aggregate |
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1 | | principal amount issued in all such bond issuances combined |
2 | | must not exceed $47,500,000. |
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 7, 2009. |
8 | | The debt incurred on any bonds issued under this subsection |
9 | | (p-55) shall not be considered indebtedness for purposes of any |
10 | | statutory debt limitation. Bonds issued under this subsection |
11 | | (p-55) must mature within not to exceed 30 years from their |
12 | | date, notwithstanding any other law to the contrary. |
13 | | (p-60) In addition to all other authority to issue bonds, |
14 | | Wilmington Community Unit School District Number 209-U may |
15 | | issue bonds with an aggregate principal amount not to exceed |
16 | | $2,285,000, but only if all of the following conditions are |
17 | | met: |
18 | | (1) The proceeds of the bonds are used to accomplish |
19 | | only those projects approved by the voters at the general |
20 | | primary election held on March 21, 2006. |
21 | | (2) Prior to the issuance of the bonds, the school |
22 | | board determines, by resolution, that (i) the projects |
23 | | approved by the voters were and are required because of the |
24 | | age and condition of the school district's prior and |
25 | | existing school buildings and (ii) the issuance of the |
26 | | bonds is authorized by legislation that exempts the debt |
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1 | | incurred on the bonds from the district's statutory debt |
2 | | limitation. |
3 | | (3) The bonds are issued in one or more bond issuances |
4 | | on or before March 1, 2011, but the aggregate principal |
5 | | amount issued in all those bond issuances combined must not |
6 | | exceed $2,285,000. |
7 | | (4) The bonds are issued in accordance with this |
8 | | Article. |
9 | | The debt incurred on any bonds issued under this subsection |
10 | | (p-60) shall not be considered indebtedness for purposes of any |
11 | | statutory debt limitation. |
12 | | (p-65) In addition to all other authority to issue bonds, |
13 | | West Washington County Community Unit School District 10 may |
14 | | issue bonds with an aggregate principal amount not to exceed |
15 | | $32,200,000 and maturing over a period not exceeding 25 years, |
16 | | but only if all of the following conditions are met: |
17 | | (1) The voters of the district approve a proposition |
18 | | for the bond issuance at an election held on or after |
19 | | February 2, 2010. |
20 | | (2) Prior to the issuance of the bonds, the school |
21 | | board determines, by resolution, that (A) all or a portion |
22 | | of the existing Okawville Junior/Senior High School |
23 | | Building will be demolished; (B) the building and equipping |
24 | | of a new school building to be attached to and the |
25 | | alteration, repair, and equipping of the remaining portion |
26 | | of the Okawville Junior/Senior High School Building is |
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1 | | required because of the age and current condition of that |
2 | | school building; and (C) the issuance of bonds is |
3 | | authorized by a statute that exempts the debt incurred on |
4 | | the bonds from the district's statutory debt limitation. |
5 | | (3) The bonds are issued, in one or more bond |
6 | | issuances, on or before March 31, 2014, but the aggregate |
7 | | principal amount issued in all such bond issuances combined |
8 | | must not exceed $32,200,000. |
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 February 2, 2010. |
14 | | The debt incurred on any bonds issued under this subsection |
15 | | (p-65) shall not be considered indebtedness for purposes of any |
16 | | statutory debt limitation. |
17 | | (p-70) In addition to all other authority to issue bonds, |
18 | | Cahokia Community Unit School District 187 may issue bonds with |
19 | | an aggregate principal amount not to exceed $50,000,000, but |
20 | | only if all 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 |
23 | | November 2, 2010. |
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 the age and condition of an existing school building and |
2 | | (ii) the issuance of bonds is authorized by a statute that |
3 | | exempts the debt incurred on the bonds from the district's |
4 | | statutory debt limitation. |
5 | | (3) The bonds are issued, in one or more issuances, on |
6 | | or before July 1, 2016, but the aggregate principal amount |
7 | | issued in all such bond issuances combined must not exceed |
8 | | $50,000,000. |
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 an election |
13 | | held on or after November 2, 2010. |
14 | | The debt incurred on any bonds issued under this subsection |
15 | | (p-70) shall not be considered indebtedness for purposes of any |
16 | | statutory debt limitation. Bonds issued under this subsection |
17 | | (p-70) must mature within not to exceed 25 years from their |
18 | | date, notwithstanding any other law, including Section 19-3 of |
19 | | this Code, to the contrary. |
20 | | (p-75) Notwithstanding the debt limitation prescribed in |
21 | | subsection (a) of this Section
or any other provisions of this |
22 | | Section or of any other law, the execution of leases on or
|
23 | | after January 1, 2007 and before July 1, 2011 by the Board of |
24 | | Education of Peoria School District 150 with a public building |
25 | | commission for leases entered into pursuant to the Public
|
26 | | Building Commission Act shall not be considered indebtedness |
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1 | | for purposes of any
statutory debt limitation. |
2 | | This subsection (p-75) applies only if the State Board of |
3 | | Education or the Capital Development Board makes one or more |
4 | | grants to Peoria School District 150 pursuant to the School |
5 | | Construction Law. The amount exempted from the debt limitation |
6 | | as prescribed in this subsection (p-75) shall be no greater |
7 | | than the amount of one or more grants awarded to Peoria School |
8 | | District 150 by the State Board of Education or the Capital |
9 | | Development Board. |
10 | | (p-80) In addition to all other authority to issue bonds, |
11 | | Ridgeland School District 122 may issue bonds with an aggregate |
12 | | principal amount not to exceed $50,000,000 for the purpose of |
13 | | refunding or continuing to refund bonds originally issued |
14 | | pursuant to voter approval at the general election held on |
15 | | November 7, 2000, and the debt incurred on any bonds issued |
16 | | under this subsection (p-80) shall not be considered |
17 | | indebtedness for purposes of any statutory debt limitation. |
18 | | Bonds issued under this subsection (p-80) may be issued in one |
19 | | or more issuances and 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-85) In addition to all other authority to issue bonds, |
23 | | Hall High School District 502 may issue bonds with an aggregate |
24 | | principal amount not to exceed $32,000,000, but only if all the |
25 | | 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 April |
2 | | 9, 2013. |
3 | | (2) Prior to the issuance of the bonds, the school
|
4 | | board 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 an existing school building, |
7 | | (ii) the existing school building should be demolished in |
8 | | its entirety or the existing school building should be |
9 | | demolished except for the 1914 west wing of the building, |
10 | | and (iii) the issuance of bonds is authorized by a statute |
11 | | that exempts the debt incurred on the bonds from the |
12 | | district's statutory debt limitation. |
13 | | (3) The bonds are issued, in one or more issuances, not |
14 | | later than 5 years after the date of the referendum |
15 | | approving the issuance of the bonds, but the aggregate |
16 | | principal amount issued in all such bond issuances combined |
17 | | must not exceed $32,000,000. |
18 | | (4) The bonds are issued in accordance with this
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19 | | Article. |
20 | | (5) The proceeds of the bonds are used to accomplish
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21 | | only those projects approved by the voters at an election |
22 | | held on or after April 9, 2013. |
23 | | The debt incurred on any bonds issued under this subsection |
24 | | (p-85) shall not be considered indebtedness for purposes of any |
25 | | statutory debt limitation. Bonds issued under this subsection |
26 | | (p-85) must mature within not to exceed 30 years from their |
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1 | | date, notwithstanding any other law, including Section 19-3 of |
2 | | this Code, to the contrary. |
3 | | (p-90) In addition to all other authority to issue bonds, |
4 | | Lebanon Community Unit School District 9 may issue bonds with |
5 | | an aggregate principal amount not to exceed $7,500,000, but |
6 | | only if all of the following conditions are met: |
7 | | (1) The voters of the district approved a proposition |
8 | | for the bond issuance at the general primary election on |
9 | | February 2, 2010. |
10 | | (2) At or prior to the time of the sale of the bonds, |
11 | | the school board determines, by resolution, that (i) the |
12 | | building and equipping of a new elementary school building |
13 | | is required as a result of a projected increase in the |
14 | | enrollment of students in the district and the age and |
15 | | condition of the existing Lebanon Elementary School |
16 | | building, (ii) a portion of the existing Lebanon Elementary |
17 | | School building will be demolished and the remaining |
18 | | portion will be altered, repaired, and equipped, and (iii) |
19 | | the sale of bonds is authorized by a statute that exempts |
20 | | the debt incurred on the bonds from the district's |
21 | | statutory debt limitation. |
22 | | (3) The bonds are issued, in one or more bond |
23 | | issuances, on or before April 1, 2014, but the aggregate |
24 | | principal amount issued in all such bond issuances combined |
25 | | must not exceed $7,500,000. |
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 those projects approved by the voters at the general |
4 | | primary election held on February 2, 2010. |
5 | | The debt incurred on any bonds issued under this subsection |
6 | | (p-90) shall not be considered indebtedness for purposes of any |
7 | | statutory debt limitation. |
8 | | (p-95) In addition to all other authority to issue bonds, |
9 | | Monticello Community Unit School District 25 may issue bonds |
10 | | with an aggregate principal amount not to exceed $35,000,000, |
11 | | but only if all of 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 |
14 | | November 4, 2014. |
15 | | (2) Prior to the issuance of the bonds, the school |
16 | | board determines, by resolution, that (i) the building and |
17 | | equipping of a new school building is required as a result |
18 | | of the age and condition of an existing school building and |
19 | | (ii) the issuance of bonds is authorized by a statute that |
20 | | exempts the debt incurred on the bonds from the district's |
21 | | statutory debt limitation. |
22 | | (3) The bonds are issued, in one or more issuances, on |
23 | | or before July 1, 2020, but the aggregate principal amount |
24 | | issued in all such bond issuances combined must not exceed |
25 | | $35,000,000. |
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 those projects approved by the voters at an election |
4 | | held on or after November 4, 2014. |
5 | | The debt incurred on any bonds issued under this subsection |
6 | | (p-95) shall not be considered indebtedness for purposes of any |
7 | | statutory debt limitation. Bonds issued under this subsection |
8 | | (p-95) must mature within not to exceed 25 years from their |
9 | | date, notwithstanding any other law, including Section 19-3 of |
10 | | this Code, to the contrary. |
11 | | (p-100) In addition to all other authority to issue bonds, |
12 | | the community unit school district created in the territory |
13 | | comprising Milford Community Consolidated School District 280 |
14 | | and Milford Township High School District 233, as approved at |
15 | | the general primary election held on March 18, 2014, may issue |
16 | | bonds with an aggregate principal amount not to exceed |
17 | | $17,500,000, 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 4, 2014. |
21 | | (2) Prior to the issuance of the bonds, the school |
22 | | board determines, by resolution, that (i) the building and |
23 | | equipping of a new school building is required as a result |
24 | | of the age and condition of an existing school building and |
25 | | (ii) the issuance of bonds is authorized by a statute that |
26 | | exempts the debt incurred on the bonds from the district's |
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1 | | statutory debt limitation. |
2 | | (3) The bonds are issued, in one or more issuances, on |
3 | | or before July 1, 2020, but the aggregate principal amount |
4 | | issued in all such bond issuances combined must not exceed |
5 | | $17,500,000. |
6 | | (4) The bonds are issued in accordance with this |
7 | | Article. |
8 | | (5) The proceeds of the bonds are used to accomplish |
9 | | only those projects approved by the voters at an election |
10 | | held on or after November 4, 2014. |
11 | | The debt incurred on any bonds issued under this subsection |
12 | | (p-100) shall not be considered indebtedness for purposes of |
13 | | any statutory debt limitation. Bonds issued under this |
14 | | subsection (p-100) must mature within not to exceed 25 years |
15 | | from their date, notwithstanding any other law, including |
16 | | Section 19-3 of this Code, to the contrary. |
17 | | (p-105) In addition to all other authority to issue bonds, |
18 | | North Shore School District 112 may issue bonds with an |
19 | | aggregate principal amount not to exceed $150,000,000, 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 March |
23 | | 15, 2016. |
24 | | (2) Prior to the issuance of the bonds, the school |
25 | | board determines, by resolution, that (i) the building and |
26 | | equipping of new buildings and improving the sites thereof |
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1 | | and the building and equipping of additions to, altering, |
2 | | repairing, equipping, and renovating existing buildings |
3 | | and improving the sites thereof are required as a result of |
4 | | the age and condition of the district's existing buildings |
5 | | and (ii) the issuance of bonds is authorized by a statute |
6 | | that exempts the debt incurred on the bonds from the |
7 | | district's statutory debt limitation. |
8 | | (3) The bonds are issued, in one or more issuances, not |
9 | | later than 5 years after the date of the referendum |
10 | | approving the issuance of the bonds, but the aggregate |
11 | | principal amount issued in all such bond issuances combined |
12 | | must not exceed $150,000,000. |
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 March 15, 2016. |
18 | | The debt incurred on any bonds issued under this subsection |
19 | | (p-105) and on any bonds issued to refund or continue to refund |
20 | | such bonds shall not be considered indebtedness for purposes of |
21 | | any statutory debt limitation. Bonds issued under this |
22 | | subsection (p-105) and any bonds issued to refund or continue |
23 | | to refund such bonds must mature within not to exceed 30 years |
24 | | from their date, notwithstanding any other law, including |
25 | | Section 19-3 of this Code, to the contrary. |
26 | | (p-110) In addition to all other authority to issue bonds, |
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1 | | Sandoval Community Unit School District 501 may issue bonds |
2 | | with an aggregate principal amount not to exceed $2,000,000, |
3 | | but only if all of the following conditions are met: |
4 | | (1) The voters of the district approved a proposition |
5 | | for the bond issuance at an election held on March 20, |
6 | | 2012. |
7 | | (2) Prior to the issuance of the bonds, the school |
8 | | board determines, by resolution, that (i) the building and |
9 | | equipping of a new school building is required because of |
10 | | the age and current condition of the Sandoval Elementary |
11 | | School building and (ii) the issuance of bonds is |
12 | | authorized by a statute that exempts the debt incurred on |
13 | | the bonds from the district's statutory debt limitation. |
14 | | (3) The bonds are issued, in one or more bond |
15 | | issuances, on or before March 19, 2022, but the aggregate |
16 | | principal amount issued in all such bond issuances combined |
17 | | must not exceed $2,000,000. |
18 | | (4) The bonds are issued in accordance with this |
19 | | Article. |
20 | | (5) The proceeds of the bonds are used to accomplish |
21 | | only those projects approved by the voters at the election |
22 | | held on March 20, 2012. |
23 | | The debt incurred on any bonds issued under this subsection |
24 | | (p-110) and on any bonds issued to refund or continue to refund |
25 | | the bonds shall not be considered indebtedness for purposes of |
26 | | any statutory debt limitation. |
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1 | | (p-115) In addition to all other authority to issue bonds, |
2 | | Bureau Valley Community Unit School District 340 may issue |
3 | | bonds with an aggregate principal amount not to exceed |
4 | | $25,000,000, but only if all of the following conditions are |
5 | | 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 | | 15, 2016. |
9 | | (2) Prior to the issuances of the bonds, the school |
10 | | board determines, by resolution, that (i) the renovating |
11 | | and equipping of some existing school buildings, the |
12 | | building and equipping of new school buildings, and the |
13 | | demolishing of some existing school buildings are required |
14 | | as a result of the age and condition of existing school |
15 | | buildings and (ii) the issuance of bonds is authorized by a |
16 | | statute that exempts the debt incurred on the bonds from |
17 | | the district's statutory debt limitation. |
18 | | (3) The bonds are issued, in one or more issuances, on |
19 | | or before July 1, 2021, but the aggregate principal amount |
20 | | issued in all such bond issuances combined must not exceed |
21 | | $25,000,000. |
22 | | (4) The bonds are issued in accordance with this |
23 | | Article. |
24 | | (5) The proceeds of the bonds are used to accomplish |
25 | | only those projects approved by the voters at an election |
26 | | held on or after March 15, 2016. |
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1 | | The debt incurred on any bonds issued under this subsection |
2 | | (p-115) shall not be considered indebtedness for purposes of |
3 | | any statutory debt limitation. Bonds issued under this |
4 | | subsection (p-115) 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-120) In addition to all other authority to issue bonds, |
8 | | Paxton-Buckley-Loda Community Unit School District 10 may |
9 | | issue bonds with an aggregate principal amount not to exceed
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10 | | $28,500,000, but only if all the following conditions are met: |
11 | | (1) The voters of the district approve a proposition |
12 | | for the bond issuance at an election held on or after |
13 | | November 8, 2016. |
14 | | (2) Prior to the issuance of the bonds, the school |
15 | | board determines, by resolution, that (i) the projects as |
16 | | described in said proposition, relating to the building and |
17 | | equipping of one or more school buildings or additions to |
18 | | existing school buildings, are required as a result of the |
19 | | age and condition of the District's existing buildings and |
20 | | (ii) the issuance of bonds is authorized by a statute that |
21 | | exempts the debt incurred on the bonds from the district's |
22 | | statutory debt limitation. |
23 | | (3) The bonds are issued, in one or more issuances, not |
24 | | later than 5 years after the date of the referendum |
25 | | approving the issuance of the bonds, but the aggregate |
26 | | principal amount issued in all such bond issuances combined |
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1 | | must not exceed $28,500,000. |
2 | | (4) The bonds are issued in accordance with this |
3 | | Article. |
4 | | (5) The proceeds of the bonds are used to accomplish |
5 | | only those projects approved by the voters at an election |
6 | | held on or after November 8, 2016. |
7 | | The debt incurred on any bonds issued under this subsection |
8 | | (p-120) and on any bonds
issued to refund or continue to refund |
9 | | such bonds shall not be considered indebtedness for
purposes of |
10 | | any statutory debt limitation. Bonds issued under this |
11 | | subsection (p-120) and any
bonds issued to refund or continue |
12 | | to refund such bonds must mature within not to exceed 25
years |
13 | | from their date, notwithstanding any other law, including |
14 | | Section 19-3 of this Code, to the
contrary. |
15 | | (p-125) In addition to all other authority to issue bonds, |
16 | | Hillsboro Community Unit School District 3 may issue bonds with |
17 | | an aggregate principal amount not to exceed
$34,500,000, but |
18 | | only if all 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 March |
21 | | 15, 2016. |
22 | | (2) Prior to the issuance of the bonds, the school |
23 | | board determines, by resolution, that (i) altering, |
24 | | repairing, and equipping the high school |
25 | | agricultural/vocational building, demolishing the high |
26 | | school main, cafeteria, and gym buildings, building and |
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1 | | equipping a school building, and improving sites are |
2 | | required as a result of the age and condition of the |
3 | | district's existing buildings and (ii) the issuance of |
4 | | bonds is authorized by a statute that exempts the debt |
5 | | incurred on the bonds from the district's statutory debt |
6 | | limitation. |
7 | | (3) The bonds are issued, in one or more issuances, not |
8 | | later than 5 years after the date of the referendum |
9 | | approving the issuance of the bonds, but the aggregate |
10 | | principal amount issued in all such bond issuances combined |
11 | | must not exceed $34,500,000. |
12 | | (4) The bonds are issued in accordance with this |
13 | | Article. |
14 | | (5) The proceeds of the bonds are used to accomplish |
15 | | only those projects approved by the voters at an election |
16 | | held on or after March 15, 2016. |
17 | | The debt incurred on any bonds issued under this subsection |
18 | | (p-125) 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-125) 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-130) In addition to all other authority to issue bonds, |
26 | | Waltham Community Consolidated School District 185 may incur |
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1 | | indebtedness in an aggregate principal amount not to exceed |
2 | | $9,500,000 to build and equip a new school building and improve |
3 | | the site thereof, but only if all the following conditions are |
4 | | met: |
5 | | (1) A majority of the voters of the district voting on |
6 | | an advisory question voted in favor of the question |
7 | | regarding the use of funding sources to build a new school |
8 | | building without increasing property tax rates at the |
9 | | general election held on November 8, 2016. |
10 | | (2) Prior to incurring the debt, the school board |
11 | | enters into intergovernmental agreements with the City of |
12 | | LaSalle to pledge moneys in a special tax allocation fund |
13 | | associated with tax increment financing districts LaSalle |
14 | | I and LaSalle III and with the Village of Utica to pledge |
15 | | moneys in a special tax allocation fund associated with tax |
16 | | increment financing district Utica I for the purposes of |
17 | | repaying the debt issued pursuant to this subsection |
18 | | (p-130). Notwithstanding any other provision of law to the |
19 | | contrary, the intergovernmental agreement may extend these |
20 | | tax increment financing districts as necessary to ensure |
21 | | repayment of the debt. |
22 | | (3) Prior to incurring the debt, the school board |
23 | | 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 the district's existing |
26 | | buildings and (ii) the debt is authorized by a statute that |
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1 | | exempts the debt from the district's statutory debt |
2 | | limitation. |
3 | | (4) The debt is incurred, in one or more issuances, not |
4 | | later than January 1, 2021, and the aggregate principal |
5 | | amount of debt issued in all such issuances combined must |
6 | | not exceed $9,500,000. |
7 | | The debt incurred under this subsection (p-130) and on any |
8 | | bonds issued to pay, refund, or continue to refund such debt |
9 | | shall not be considered indebtedness for purposes of any |
10 | | statutory debt limitation. Debt issued under this subsection |
11 | | (p-130) and any bonds issued to pay, refund, or continue to |
12 | | refund such debt must mature within not to exceed 25 years from |
13 | | their date, notwithstanding any other law, including Section |
14 | | 19-11 of this Code and subsection (b) of Section 17 of the |
15 | | Local Government Debt Reform Act, to the contrary. |
16 | | (p-133) Notwithstanding the provisions of subsection (a) |
17 | | of this Section or of any other law, bonds heretofore or |
18 | | hereafter issued by East Prairie School District 73 with an |
19 | | aggregate principal amount not to exceed $47,353,147 and |
20 | | approved by the voters of the district at the general election |
21 | | held on November 8, 2016, and any bonds issued to refund or |
22 | | continue to refund the bonds, shall not be considered |
23 | | indebtedness for the purposes of any statutory debt limitation |
24 | | and may mature within not to exceed 25 years from their date, |
25 | | notwithstanding any other law, including Section 19-3 of this |
26 | | Code, to the contrary. |
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1 | | (p-135) In addition to all other authority to issue bonds, |
2 | | Brookfield LaGrange Park School District Number 95 may issue |
3 | | bonds with an aggregate principal amount not to exceed |
4 | | $20,000,000, but only if 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 or after April |
7 | | 4, 2017. |
8 | | (2) Prior to the issuance of the bonds, the school |
9 | | board determines, by resolution, that (i) the additions and |
10 | | renovations to the Brook Park Elementary and S. E. Gross |
11 | | Middle School buildings are required to accommodate |
12 | | enrollment growth, replace outdated facilities, and create |
13 | | spaces consistent with 21st century learning and (ii) the |
14 | | issuance of the bonds is authorized by a statute that |
15 | | exempts the debt incurred on the bonds from the district's |
16 | | statutory debt limitation. |
17 | | (3) The bonds are issued, in one or more issuances, not |
18 | | later than 5 years after the date of the referendum |
19 | | approving the issuance of the bonds, but the aggregate |
20 | | principal amount issued in all such bond issuances combined |
21 | | must not exceed $20,000,000. |
22 | | (4) The bonds are issued in accordance with this |
23 | | Article. |
24 | | (5) The proceeds of the bonds are used to accomplish |
25 | | only those projects approved by the voters at an election |
26 | | held on or after April 4, 2017. |
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1 | | The debt incurred on any bonds issued under this |
2 | | subsection (p-135) and on any bonds issued to refund or |
3 | | continue to refund such bonds shall not be considered |
4 | | indebtedness for purposes of any statutory debt |
5 | | limitation. |
6 | | (p-140) The debt incurred on any bonds issued by Wolf |
7 | | Branch School District 113 under Section 17-2.11 of this Code |
8 | | for the purpose of repairing or replacing all or a portion of a |
9 | | school building that has been damaged by mine subsidence in an |
10 | | aggregate principal amount not to exceed $17,500,000 and on any |
11 | | bonds issued to refund or continue to refund those bonds shall |
12 | | not be considered indebtedness for purposes of any statutory |
13 | | debt limitation and must mature no later than 25 years from the |
14 | | date of issuance, notwithstanding any other provision of law to |
15 | | the contrary, including Section 19-3 of this Code. The maximum |
16 | | allowable amount of debt exempt from statutory debt limitations |
17 | | under this subsection (p-140) shall be reduced by an amount |
18 | | equal to any grants awarded by the State Board of Education or |
19 | | Capital Development Board for the explicit purpose of repairing |
20 | | or reconstructing a school building damaged by mine subsidence. |
21 | | (q) A school district must notify the State Board of |
22 | | Education prior to issuing any form of long-term or short-term |
23 | | debt that will result in outstanding debt that exceeds 75% of |
24 | | the debt limit specified in this Section or any other provision |
25 | | of law.
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26 | | (Source: P.A. 99-78, eff. 7-20-15; 99-143, eff. 7-27-15; |