Bill Text: IL HB2492 | 2023-2024 | 103rd General Assembly | Engrossed

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Bill Title: Reinserts the contents of the introduced bill with the following changes. Removes the provisions amending the Property Tax Code. Removes the tax levy provision in the School Energy Conservation and Saving Measures Article of the School Code.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed) 2024-04-12 - Alternate Chief Sponsor Changed to Sen. Mary Edly-Allen [HB2492 Detail]

Download: Illinois-2023-HB2492-Engrossed.html

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AN ACT concerning education.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The School Code is amended by changing Sections
19-1 and 19b-6 and by adding Section 19b-5.5 as follows:
(105 ILCS 5/19-1)
Sec. 19-1. Debt limitations of school districts.
(a) School districts shall not be subject to the
provisions limiting their indebtedness prescribed in the Local
Government Debt Limitation Act.
No school districts maintaining grades K through 8 or 9
through 12 shall become indebted in any manner or for any
purpose to an amount, including existing indebtedness, in the
aggregate exceeding 6.9% on the value of the taxable property
therein to be ascertained by the last assessment for State and
county taxes or, until January 1, 1983, if greater, the sum
that is produced by multiplying the school district's 1978
equalized assessed valuation by the debt limitation percentage
in effect on January 1, 1979, previous to the incurring of such
indebtedness.
No school districts maintaining grades K through 12 shall
become indebted in any manner or for any purpose to an amount,
including existing indebtedness, in the aggregate exceeding

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13.8% on the value of the taxable property therein to be
ascertained by the last assessment for State and county taxes
or, until January 1, 1983, if greater, the sum that is produced
by multiplying the school district's 1978 equalized assessed
valuation by the debt limitation percentage in effect on
January 1, 1979, previous to the incurring of such
indebtedness.
No partial elementary unit district, as defined in Article
11E of this Code, shall become indebted in any manner or for
any purpose in an amount, including existing indebtedness, in
the aggregate exceeding 6.9% of the value of the taxable
property of the entire district, to be ascertained by the last
assessment for State and county taxes, plus an amount,
including existing indebtedness, in the aggregate exceeding
6.9% of the value of the taxable property of that portion of
the district included in the elementary and high school
classification, to be ascertained by the last assessment for
State and county taxes. Moreover, no partial elementary unit
district, as defined in Article 11E of this Code, shall become
indebted on account of bonds issued by the district for high
school purposes in the aggregate exceeding 6.9% of the value
of the taxable property of the entire district, to be
ascertained by the last assessment for State and county taxes,
nor shall the district become indebted on account of bonds
issued by the district for elementary purposes in the
aggregate exceeding 6.9% of the value of the taxable property

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for that portion of the district included in the elementary
and high school classification, to be ascertained by the last
assessment for State and county taxes.
Notwithstanding the provisions of any other law to the
contrary, in any case in which the voters of a school district
have approved a proposition for the issuance of bonds of such
school district at an election held prior to January 1, 1979,
and all of the bonds approved at such election have not been
issued, the debt limitation applicable to such school district
during the calendar year 1979 shall be computed by multiplying
the value of taxable property therein, including personal
property, as ascertained by the last assessment for State and
county taxes, previous to the incurring of such indebtedness,
by the percentage limitation applicable to such school
district under the provisions of this subsection (a).
(a-5) After January 1, 2018, no school district may issue
bonds under Sections 19-2 through 19-7 of this Code and rely on
an exception to the debt limitations in this Section unless it
has complied with the requirements of Section 21 of the Bond
Issue Notification Act and the bonds have been approved by
referendum.
(b) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, additional indebtedness may be
incurred in an amount not to exceed the estimated cost of
acquiring or improving school sites or constructing and
equipping additional building facilities under the following

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conditions:
(1) Whenever the enrollment of students for the next
school year is estimated by the board of education to
increase over the actual present enrollment by not less
than 35% or by not less than 200 students or the actual
present enrollment of students has increased over the
previous school year by not less than 35% or by not less
than 200 students and the board of education determines
that additional school sites or building facilities are
required as a result of such increase in enrollment; and
(2) When the Regional Superintendent of Schools having
jurisdiction over the school district and the State
Superintendent of Education concur in such enrollment
projection or increase and approve the need for such
additional school sites or building facilities and the
estimated cost thereof; and
(3) When the voters in the school district approve a
proposition for the issuance of bonds for the purpose of
acquiring or improving such needed school sites or
constructing and equipping such needed additional building
facilities at an election called and held for that
purpose. Notice of such an election shall state that the
amount of indebtedness proposed to be incurred would
exceed the debt limitation otherwise applicable to the
school district. The ballot for such proposition shall
state what percentage of the equalized assessed valuation

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will be outstanding in bonds if the proposed issuance of
bonds is approved by the voters; or
(4) Notwithstanding the provisions of paragraphs (1)
through (3) of this subsection (b), if the school board
determines that additional facilities are needed to
provide a quality educational program and not less than
2/3 of those voting in an election called by the school
board on the question approve the issuance of bonds for
the construction of such facilities, the school district
may issue bonds for this purpose; or
(5) Notwithstanding the provisions of paragraphs (1)
through (3) of this subsection (b), if (i) the school
district has previously availed itself of the provisions
of paragraph (4) of this subsection (b) to enable it to
issue bonds, (ii) the voters of the school district have
not defeated a proposition for the issuance of bonds since
the referendum described in paragraph (4) of this
subsection (b) was held, (iii) the school board determines
that additional facilities are needed to provide a quality
educational program, and (iv) a majority of those voting
in an election called by the school board on the question
approve the issuance of bonds for the construction of such
facilities, the school district may issue bonds for this
purpose.
In no event shall the indebtedness incurred pursuant to
this subsection (b) and the existing indebtedness of the

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school district exceed 15% of the value of the taxable
property therein to be ascertained by the last assessment for
State and county taxes, previous to the incurring of such
indebtedness or, until January 1, 1983, if greater, the sum
that is produced by multiplying the school district's 1978
equalized assessed valuation by the debt limitation percentage
in effect on January 1, 1979.
The indebtedness provided for by this subsection (b) shall
be in addition to and in excess of any other debt limitation.
(c) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, in any case in which a public
question for the issuance of bonds of a proposed school
district maintaining grades kindergarten through 12 received
at least 60% of the valid ballots cast on the question at an
election held on or prior to November 8, 1994, and in which the
bonds approved at such election have not been issued, the
school district pursuant to the requirements of Section 11A-10
(now repealed) may issue the total amount of bonds approved at
such election for the purpose stated in the question.
(d) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, a school district that meets
all the criteria set forth in paragraphs (1) and (2) of this
subsection (d) may incur an additional indebtedness in an
amount not to exceed $4,500,000, even though the amount of the
additional indebtedness authorized by this subsection (d),
when incurred and added to the aggregate amount of

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indebtedness of the district existing immediately prior to the
district incurring the additional indebtedness authorized by
this subsection (d), causes the aggregate indebtedness of the
district to exceed the debt limitation otherwise applicable to
that district under subsection (a):
(1) The additional indebtedness authorized by this
subsection (d) is incurred by the school district through
the issuance of bonds under and in accordance with Section
17-2.11a for the purpose of replacing a school building
which, because of mine subsidence damage, has been closed
as provided in paragraph (2) of this subsection (d) or
through the issuance of bonds under and in accordance with
Section 19-3 for the purpose of increasing the size of, or
providing for additional functions in, such replacement
school buildings, or both such purposes.
(2) The bonds issued by the school district as
provided in paragraph (1) above are issued for the
purposes of construction by the school district of a new
school building pursuant to Section 17-2.11, to replace an
existing school building that, because of mine subsidence
damage, is closed as of the end of the 1992-93 school year
pursuant to action of the regional superintendent of
schools of the educational service region in which the
district is located under Section 3-14.22 or are issued
for the purpose of increasing the size of, or providing
for additional functions in, the new school building being

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constructed to replace a school building closed as the
result of mine subsidence damage, or both such purposes.
(e) (Blank).
(f) Notwithstanding the provisions of subsection (a) of
this Section or of any other law, bonds in not to exceed the
aggregate amount of $5,500,000 and issued by a school district
meeting the following criteria shall not be considered
indebtedness for purposes of any statutory limitation and may
be issued in an amount or amounts, including existing
indebtedness, in excess of any heretofore or hereafter imposed
statutory limitation as to indebtedness:
(1) At the time of the sale of such bonds, the board of
education of the district shall have determined by
resolution that the enrollment of students in the district
is projected to increase by not less than 7% during each of
the next succeeding 2 school years.
(2) The board of education shall also determine by
resolution that the improvements to be financed with the
proceeds of the bonds are needed because of the projected
enrollment increases.
(3) The board of education shall also determine by
resolution that the projected increases in enrollment are
the result of improvements made or expected to be made to
passenger rail facilities located in the school district.
Notwithstanding the provisions of subsection (a) of this
Section or of any other law, a school district that has availed

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itself of the provisions of this subsection (f) prior to July
22, 2004 (the effective date of Public Act 93-799) may also
issue bonds approved by referendum up to an amount, including
existing indebtedness, not exceeding 25% of the equalized
assessed value of the taxable property in the district if all
of the conditions set forth in items (1), (2), and (3) of this
subsection (f) are met.
(g) Notwithstanding the provisions of subsection (a) of
this Section or any other law, bonds in not to exceed an
aggregate amount of 25% of the equalized assessed value of the
taxable property of a school district and issued by a school
district meeting the criteria in paragraphs (i) through (iv)
of this subsection shall not be considered indebtedness for
purposes of any statutory limitation and may be issued
pursuant to resolution of the school board in an amount or
amounts, including existing indebtedness, in excess of any
statutory limitation of indebtedness heretofore or hereafter
imposed:
(i) The bonds are issued for the purpose of
constructing a new high school building to replace two
adjacent existing buildings which together house a single
high school, each of which is more than 65 years old, and
which together are located on more than 10 acres and less
than 11 acres of property.
(ii) At the time the resolution authorizing the
issuance of the bonds is adopted, the cost of constructing

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a new school building to replace the existing school
building is less than 60% of the cost of repairing the
existing school building.
(iii) The sale of the bonds occurs before July 1,
1997.
(iv) The school district issuing the bonds is a unit
school district located in a county of less than 70,000
and more than 50,000 inhabitants, which has an average
daily attendance of less than 1,500 and an equalized
assessed valuation of less than $29,000,000.
(h) Notwithstanding any other provisions of this Section
or the provisions of any other law, until January 1, 1998, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27.6% of the equalized assessed
value of the taxable property in the district, if all of the
following conditions are met:
(i) The school district has an equalized assessed
valuation for calendar year 1995 of less than $24,000,000;
(ii) The bonds are issued for the capital improvement,
renovation, rehabilitation, or replacement of existing
school buildings of the district, all of which buildings
were originally constructed not less than 40 years ago;
(iii) The voters of the district approve a proposition
for the issuance of the bonds at a referendum held after
March 19, 1996; and

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(iv) The bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(i) Notwithstanding any other provisions of this Section
or the provisions of any other law, until January 1, 1998, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27% of the equalized assessed
value of the taxable property in the district, if all of the
following conditions are met:
(i) The school district has an equalized assessed
valuation for calendar year 1995 of less than $44,600,000;
(ii) The bonds are issued for the capital improvement,
renovation, rehabilitation, or replacement of existing
school buildings of the district, all of which existing
buildings were originally constructed not less than 80
years ago;
(iii) The voters of the district approve a proposition
for the issuance of the bonds at a referendum held after
December 31, 1996; and
(iv) The bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(j) Notwithstanding any other provisions of this Section
or the provisions of any other law, until January 1, 1999, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27% of the equalized assessed

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value of the taxable property in the district if all of the
following conditions are met:
(i) The school district has an equalized assessed
valuation for calendar year 1995 of less than $140,000,000
and a best 3 months average daily attendance for the
1995-96 school year of at least 2,800;
(ii) The bonds are issued to purchase a site and build
and equip a new high school, and the school district's
existing high school was originally constructed not less
than 35 years prior to the sale of the bonds;
(iii) At the time of the sale of the bonds, the board
of education determines by resolution that a new high
school is needed because of projected enrollment
increases;
(iv) At least 60% of those voting in an election held
after December 31, 1996 approve a proposition for the
issuance of the bonds; and
(v) The bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(k) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, a school district that meets
all the criteria set forth in paragraphs (1) through (4) of
this subsection (k) may issue bonds to incur an additional
indebtedness in an amount not to exceed $4,000,000 even though
the amount of the additional indebtedness authorized by this
subsection (k), when incurred and added to the aggregate

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amount of indebtedness of the school district existing
immediately prior to the school district incurring such
additional indebtedness, causes the aggregate indebtedness of
the school district to exceed or increases the amount by which
the aggregate indebtedness of the district already exceeds the
debt limitation otherwise applicable to that school district
under subsection (a):
(1) the school district is located in 2 counties, and
a referendum to authorize the additional indebtedness was
approved by a majority of the voters of the school
district voting on the proposition to authorize that
indebtedness;
(2) the additional indebtedness is for the purpose of
financing a multi-purpose room addition to the existing
high school;
(3) the additional indebtedness, together with the
existing indebtedness of the school district, shall not
exceed 17.4% of the value of the taxable property in the
school district, to be ascertained by the last assessment
for State and county taxes; and
(4) the bonds evidencing the additional indebtedness
are issued, if at all, within 120 days of August 14, 1998
(the effective date of Public Act 90-757).
(l) Notwithstanding any other provisions of this Section
or the provisions of any other law, until January 1, 2000, a
school district maintaining grades kindergarten through 8 may

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issue bonds up to an amount, including existing indebtedness,
not exceeding 15% of the equalized assessed value of the
taxable property in the district if all of the following
conditions are met:
(i) the district has an equalized assessed valuation
for calendar year 1996 of less than $10,000,000;
(ii) the bonds are issued for capital improvement,
renovation, rehabilitation, or replacement of one or more
school buildings of the district, which buildings were
originally constructed not less than 70 years ago;
(iii) the voters of the district approve a proposition
for the issuance of the bonds at a referendum held on or
after March 17, 1998; and
(iv) the bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(m) Notwithstanding any other provisions of this Section
or the provisions of any other law, until January 1, 1999, an
elementary school district maintaining grades K through 8 may
issue bonds up to an amount, excluding existing indebtedness,
not exceeding 18% of the equalized assessed value of the
taxable property in the district, if all of the following
conditions are met:
(i) The school district has an equalized assessed
valuation for calendar year 1995 or less than $7,700,000;
(ii) The school district operates 2 elementary
attendance centers that until 1976 were operated as the

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attendance centers of 2 separate and distinct school
districts;
(iii) The bonds are issued for the construction of a
new elementary school building to replace an existing
multi-level elementary school building of the school
district that is not accessible at all levels and parts of
which were constructed more than 75 years ago;
(iv) The voters of the school district approve a
proposition for the issuance of the bonds at a referendum
held after July 1, 1998; and
(v) The bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(n) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section or any other provisions of this
Section or of any other law, a school district that meets all
of the criteria set forth in paragraphs (i) through (vi) of
this subsection (n) may incur additional indebtedness by the
issuance of bonds in an amount not exceeding the amount
certified by the Capital Development Board to the school
district as provided in paragraph (iii) of this subsection
(n), even though the amount of the additional indebtedness so
authorized, when incurred and added to the aggregate amount of
indebtedness of the district existing immediately prior to the
district incurring the additional indebtedness authorized by
this subsection (n), causes the aggregate indebtedness of the
district to exceed the debt limitation otherwise applicable by

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law to that district:
(i) The school district applies to the State Board of
Education for a school construction project grant and
submits a district facilities plan in support of its
application pursuant to Section 5-20 of the School
Construction Law.
(ii) The school district's application and facilities
plan are approved by, and the district receives a grant
entitlement for a school construction project issued by,
the State Board of Education under the School Construction
Law.
(iii) The school district has exhausted its bonding
capacity or the unused bonding capacity of the district is
less than the amount certified by the Capital Development
Board to the district under Section 5-15 of the School
Construction Law as the dollar amount of the school
construction project's cost that the district will be
required to finance with non-grant funds in order to
receive a school construction project grant under the
School Construction Law.
(iv) The bonds are issued for a "school construction
project", as that term is defined in Section 5-5 of the
School Construction Law, in an amount that does not exceed
the dollar amount certified, as provided in paragraph
(iii) of this subsection (n), by the Capital Development
Board to the school district under Section 5-15 of the

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School Construction Law.
(v) The voters of the district approve a proposition
for the issuance of the bonds at a referendum held after
the criteria specified in paragraphs (i) and (iii) of this
subsection (n) are met.
(vi) The bonds are issued pursuant to Sections 19-2
through 19-7 of the School Code.
(o) Notwithstanding any other provisions of this Section
or the provisions of any other law, until November 1, 2007, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 20% of the equalized assessed
value of the taxable property in the district if all of the
following conditions are met:
(i) the school district has an equalized assessed
valuation for calendar year 2001 of at least $737,000,000
and an enrollment for the 2002-2003 school year of at
least 8,500;
(ii) the bonds are issued to purchase school sites,
build and equip a new high school, build and equip a new
junior high school, build and equip 5 new elementary
schools, and make technology and other improvements and
additions to existing schools;
(iii) at the time of the sale of the bonds, the board
of education determines by resolution that the sites and
new or improved facilities are needed because of projected

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enrollment increases;
(iv) at least 57% of those voting in a general
election held prior to January 1, 2003 approved a
proposition for the issuance of the bonds; and
(v) the bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.
(p) Notwithstanding any other provisions of this Section
or the provisions of any other law, a community unit school
district maintaining grades K through 12 may issue bonds up to
an amount, including indebtedness, not exceeding 27% of the
equalized assessed value of the taxable property in the
district if all of the following conditions are met:
(i) The school district has an equalized assessed
valuation for calendar year 2001 of at least $295,741,187
and a best 3 months' average daily attendance for the
2002-2003 school year of at least 2,394.
(ii) The bonds are issued to build and equip 3
elementary school buildings; build and equip one middle
school building; and alter, repair, improve, and equip all
existing school buildings in the district.
(iii) At the time of the sale of the bonds, the board
of education determines by resolution that the project is
needed because of expanding growth in the school district
and a projected enrollment increase.
(iv) The bonds are issued pursuant to Sections 19-2
through 19-7 of this Code.

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(p-5) Notwithstanding any other provisions of this Section
or the provisions of any other law, bonds issued by a community
unit school district maintaining grades K through 12 shall not
be considered indebtedness for purposes of any statutory
limitation and may be issued in an amount or amounts,
including existing indebtedness, in excess of any heretofore
or hereafter imposed statutory limitation as to indebtedness,
if all of the following conditions are met:
(i) For each of the 4 most recent years, residential
property comprises more than 80% of the equalized assessed
valuation of the district.
(ii) At least 2 school buildings that were constructed
40 or more years prior to the issuance of the bonds will be
demolished and will be replaced by new buildings or
additions to one or more existing buildings.
(iii) Voters of the district approve a proposition for
the issuance of the bonds at a regularly scheduled
election.
(iv) At the time of the sale of the bonds, the school
board determines by resolution that the new buildings or
building additions are needed because of an increase in
enrollment projected by the school board.
(v) The principal amount of the bonds, including
existing indebtedness, does not exceed 25% of the
equalized assessed value of the taxable property in the
district.

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(vi) The bonds are issued prior to January 1, 2007,
pursuant to Sections 19-2 through 19-7 of this Code.
(p-10) Notwithstanding any other provisions of this
Section or the provisions of any other law, bonds issued by a
community consolidated school district maintaining grades K
through 8 shall not be considered indebtedness for purposes of
any statutory limitation and may be issued in an amount or
amounts, including existing indebtedness, in excess of any
heretofore or hereafter imposed statutory limitation as to
indebtedness, if all of the following conditions are met:
(i) For each of the 4 most recent years, residential
and farm property comprises more than 80% of the equalized
assessed valuation of the district.
(ii) The bond proceeds are to be used to acquire and
improve school sites and build and equip a school
building.
(iii) Voters of the district approve a proposition for
the issuance of the bonds at a regularly scheduled
election.
(iv) At the time of the sale of the bonds, the school
board determines by resolution that the school sites and
building additions are needed because of an increase in
enrollment projected by the school board.
(v) The principal amount of the bonds, including
existing indebtedness, does not exceed 20% of the
equalized assessed value of the taxable property in the

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district.
(vi) The bonds are issued prior to January 1, 2007,
pursuant to Sections 19-2 through 19-7 of this Code.
(p-15) In addition to all other authority to issue bonds,
the Oswego Community Unit School District Number 308 may issue
bonds with an aggregate principal amount not to exceed
$450,000,000, but only if all of the following conditions are
met:
(i) The voters of the district have approved a
proposition for the bond issue at the general election
held on November 7, 2006.
(ii) At the time of the sale of the bonds, the school
board determines, by resolution, that: (A) the building
and equipping of the new high school building, new junior
high school buildings, new elementary school buildings,
early childhood building, maintenance building,
transportation facility, and additions to existing school
buildings, the altering, repairing, equipping, and
provision of technology improvements to existing school
buildings, and the acquisition and improvement of school
sites, as the case may be, are required as a result of a
projected increase in the enrollment of students in the
district; and (B) the sale of bonds for these purposes is
authorized by legislation that exempts the debt incurred
on the bonds from the district's statutory debt
limitation.

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(iii) The bonds are issued, in one or more bond
issues, on or before November 7, 2011, but the aggregate
principal amount issued in all such bond issues combined
must not exceed $450,000,000.
(iv) The bonds are issued in accordance with this
Article 19.
(v) The proceeds of the bonds are used only to
accomplish those projects approved by the voters at the
general election held on November 7, 2006.
The debt incurred on any bonds issued under this subsection
(p-15) shall not be considered indebtedness for purposes of
any statutory debt limitation.
(p-20) In addition to all other authority to issue bonds,
the Lincoln-Way Community High School District Number 210 may
issue bonds with an aggregate principal amount not to exceed
$225,000,000, but only if all of the following conditions are
met:
(i) The voters of the district have approved a
proposition for the bond issue at the general primary
election held on March 21, 2006.
(ii) At the time of the sale of the bonds, the school
board determines, by resolution, that: (A) the building
and equipping of the new high school buildings, the
altering, repairing, and equipping of existing school
buildings, and the improvement of school sites, as the
case may be, are required as a result of a projected

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increase in the enrollment of students in the district;
and (B) the sale of bonds for these purposes is authorized
by legislation that exempts the debt incurred on the bonds
from the district's statutory debt limitation.
(iii) The bonds are issued, in one or more bond
issues, on or before March 21, 2011, but the aggregate
principal amount issued in all such bond issues combined
must not exceed $225,000,000.
(iv) The bonds are issued in accordance with this
Article 19.
(v) The proceeds of the bonds are used only to
accomplish those projects approved by the voters at the
primary election held on March 21, 2006.
The debt incurred on any bonds issued under this subsection
(p-20) shall not be considered indebtedness for purposes of
any statutory debt limitation.
(p-25) In addition to all other authority to issue bonds,
Rochester Community Unit School District 3A may issue bonds
with an aggregate principal amount not to exceed $18,500,000,
but only if all of the following conditions are met:
(i) The voters of the district approve a proposition
for the bond issuance at the general primary election held
in 2008.
(ii) At the time of the sale of the bonds, the school
board determines, by resolution, that: (A) the building
and equipping of a new high school building; the addition

HB2492 Engrossed - 24 - LRB103 26244 RJT 52604 b
of classrooms and support facilities at the high school,
middle school, and elementary school; the altering,
repairing, and equipping of existing school buildings; and
the improvement of school sites, as the case may be, are
required as a result of a projected increase in the
enrollment of students in the district; and (B) the sale
of bonds for these purposes is authorized by a law that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(iii) The bonds are issued, in one or more bond
issues, on or before December 31, 2012, but the aggregate
principal amount issued in all such bond issues combined
must not exceed $18,500,000.
(iv) The bonds are issued in accordance with this
Article 19.
(v) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at the primary
election held in 2008.
The debt incurred on any bonds issued under this subsection
(p-25) shall not be considered indebtedness for purposes of
any statutory debt limitation.
(p-30) In addition to all other authority to issue bonds,
Prairie Grove Consolidated School District 46 may issue bonds
with an aggregate principal amount not to exceed $30,000,000,
but only if all of the following conditions are met:
(i) The voters of the district approve a proposition

HB2492 Engrossed - 25 - LRB103 26244 RJT 52604 b
for the bond issuance at an election held in 2008.
(ii) At the time of the sale of the bonds, the school
board determines, by resolution, that (A) the building and
equipping of a new school building and additions to
existing school buildings are required as a result of a
projected increase in the enrollment of students in the
district and (B) the altering, repairing, and equipping of
existing school buildings are required because of the age
of the existing school buildings.
(iii) The bonds are issued, in one or more bond
issuances, on or before December 31, 2012; however, the
aggregate principal amount issued in all such bond
issuances combined must not exceed $30,000,000.
(iv) The bonds are issued in accordance with this
Article.
(v) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held in 2008.
The debt incurred on any bonds issued under this subsection
(p-30) shall not be considered indebtedness for purposes of
any statutory debt limitation.
(p-35) In addition to all other authority to issue bonds,
Prairie Hill Community Consolidated School District 133 may
issue bonds with an aggregate principal amount not to exceed
$13,900,000, but only if all of the following conditions are
met:

HB2492 Engrossed - 26 - LRB103 26244 RJT 52604 b
(i) The voters of the district approved a proposition
for the bond issuance at an election held on April 17,
2007.
(ii) At the time of the sale of the bonds, the school
board determines, by resolution, that (A) the improvement
of the site of and the building and equipping of a school
building are required as a result of a projected increase
in the enrollment of students in the district and (B) the
repairing and equipping of the Prairie Hill Elementary
School building is required because of the age of that
school building.
(iii) The bonds are issued, in one or more bond
issuances, on or before December 31, 2011, but the
aggregate principal amount issued in all such bond
issuances combined must not exceed $13,900,000.
(iv) The bonds are issued in accordance with this
Article.
(v) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on April 17, 2007.
The debt incurred on any bonds issued under this subsection
(p-35) shall not be considered indebtedness for purposes of
any statutory debt limitation.
(p-40) In addition to all other authority to issue bonds,
Mascoutah Community Unit District 19 may issue bonds with an
aggregate principal amount not to exceed $55,000,000, but only

HB2492 Engrossed - 27 - LRB103 26244 RJT 52604 b
if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at a regular election held on or
after November 4, 2008.
(2) At the time of the sale of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new high school building is required as a
result of a projected increase in the enrollment of
students in the district and the age and condition of the
existing high school building, (ii) the existing high
school building will be demolished, and (iii) the sale of
bonds is authorized by statute that exempts the debt
incurred on the bonds from the district's statutory debt
limitation.
(3) The bonds are issued, in one or more bond
issuances, on or before December 31, 2011, but the
aggregate principal amount issued in all such bond
issuances combined must not exceed $55,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at a regular
election held on or after November 4, 2008.
The debt incurred on any bonds issued under this
subsection (p-40) shall not be considered indebtedness for
purposes of any statutory debt limitation.

HB2492 Engrossed - 28 - LRB103 26244 RJT 52604 b
(p-45) Notwithstanding the provisions of subsection (a) of
this Section or of any other law, bonds issued pursuant to
Section 19-3.5 of this Code shall not be considered
indebtedness for purposes of any statutory limitation if the
bonds are issued in an amount or amounts, including existing
indebtedness of the school district, not in excess of 18.5% of
the value of the taxable property in the district to be
ascertained by the last assessment for State and county taxes.
(p-50) Notwithstanding the provisions of subsection (a) of
this Section or of any other law, bonds issued pursuant to
Section 19-3.10 of this Code shall not be considered
indebtedness for purposes of any statutory limitation if the
bonds are issued in an amount or amounts, including existing
indebtedness of the school district, not in excess of 43% of
the value of the taxable property in the district to be
ascertained by the last assessment for State and county taxes.
(p-55) In addition to all other authority to issue bonds,
Belle Valley School District 119 may issue bonds with an
aggregate principal amount not to exceed $47,500,000, but only
if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after April
7, 2009.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required as a result

HB2492 Engrossed - 29 - LRB103 26244 RJT 52604 b
of mine subsidence in an existing school building and
because of the age and condition of another existing
school building and (ii) the issuance of bonds is
authorized by statute that exempts the debt incurred on
the bonds from the district's statutory debt limitation.
(3) The bonds are issued, in one or more bond
issuances, on or before March 31, 2014, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $47,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after April 7, 2009.
The debt incurred on any bonds issued under this
subsection (p-55) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-55) must mature within not to exceed 30
years from their date, notwithstanding any other law to the
contrary.
(p-60) In addition to all other authority to issue bonds,
Wilmington Community Unit School District Number 209-U may
issue bonds with an aggregate principal amount not to exceed
$2,285,000, but only if all of the following conditions are
met:
(1) The proceeds of the bonds are used to accomplish

HB2492 Engrossed - 30 - LRB103 26244 RJT 52604 b
only those projects approved by the voters at the general
primary election held on March 21, 2006.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the projects
approved by the voters were and are required because of
the age and condition of the school district's prior and
existing school buildings and (ii) the issuance of the
bonds is authorized by legislation that exempts the debt
incurred on the bonds from the district's statutory debt
limitation.
(3) The bonds are issued in one or more bond issuances
on or before March 1, 2011, but the aggregate principal
amount issued in all those bond issuances combined must
not exceed $2,285,000.
(4) The bonds are issued in accordance with this
Article.
The debt incurred on any bonds issued under this
subsection (p-60) shall not be considered indebtedness for
purposes of any statutory debt limitation.
(p-65) In addition to all other authority to issue bonds,
West Washington County Community Unit School District 10 may
issue bonds with an aggregate principal amount not to exceed
$32,200,000 and maturing over a period not exceeding 25 years,
but only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after

HB2492 Engrossed - 31 - LRB103 26244 RJT 52604 b
February 2, 2010.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (A) all or a portion
of the existing Okawville Junior/Senior High School
Building will be demolished; (B) the building and
equipping of a new school building to be attached to and
the alteration, repair, and equipping of the remaining
portion of the Okawville Junior/Senior High School
Building is required because of the age and current
condition of that school building; and (C) the issuance of
bonds is authorized by a statute that exempts the debt
incurred on the bonds from the district's statutory debt
limitation.
(3) The bonds are issued, in one or more bond
issuances, on or before March 31, 2014, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $32,200,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after February 2, 2010.
The debt incurred on any bonds issued under this
subsection (p-65) shall not be considered indebtedness for
purposes of any statutory debt limitation.
(p-70) In addition to all other authority to issue bonds,

HB2492 Engrossed - 32 - LRB103 26244 RJT 52604 b
Cahokia Community Unit School District 187 may issue bonds
with an aggregate principal amount not to exceed $50,000,000,
but only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after
November 2, 2010.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required as a result
of the age and condition of an existing school building
and (ii) the issuance of bonds is authorized by a statute
that exempts the debt incurred on the bonds from the
district's statutory debt limitation.
(3) The bonds are issued, in one or more issuances, on
or before July 1, 2016, but the aggregate principal amount
issued in all such bond issuances combined must not exceed
$50,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after November 2, 2010.
The debt incurred on any bonds issued under this
subsection (p-70) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-70) must mature within not to exceed 25

HB2492 Engrossed - 33 - LRB103 26244 RJT 52604 b
years from their date, notwithstanding any other law,
including Section 19-3 of this Code, to the contrary.
(p-75) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section or any other provisions of this
Section or of any other law, the execution of leases on or
after January 1, 2007 and before July 1, 2011 by the Board of
Education of Peoria School District 150 with a public building
commission for leases entered into pursuant to the Public
Building Commission Act shall not be considered indebtedness
for purposes of any statutory debt limitation.
This subsection (p-75) applies only if the State Board of
Education or the Capital Development Board makes one or more
grants to Peoria School District 150 pursuant to the School
Construction Law. The amount exempted from the debt limitation
as prescribed in this subsection (p-75) shall be no greater
than the amount of one or more grants awarded to Peoria School
District 150 by the State Board of Education or the Capital
Development Board.
(p-80) In addition to all other authority to issue bonds,
Ridgeland School District 122 may issue bonds with an
aggregate principal amount not to exceed $50,000,000 for the
purpose of refunding or continuing to refund bonds originally
issued pursuant to voter approval at the general election held
on November 7, 2000, and the debt incurred on any bonds issued
under this subsection (p-80) shall not be considered
indebtedness for purposes of any statutory debt limitation.

HB2492 Engrossed - 34 - LRB103 26244 RJT 52604 b
Bonds issued under this subsection (p-80) may be issued in one
or more issuances and must mature within not to exceed 25 years
from their date, notwithstanding any other law, including
Section 19-3 of this Code, to the contrary.
(p-85) In addition to all other authority to issue bonds,
Hall High School District 502 may issue bonds with an
aggregate principal amount not to exceed $32,000,000, but only
if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after April
9, 2013.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required as a result
of the age and condition of an existing school building,
(ii) the existing school building should be demolished in
its entirety or the existing school building should be
demolished except for the 1914 west wing of the building,
and (iii) the issuance of bonds is authorized by a statute
that exempts the debt incurred on the bonds from the
district's statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $32,000,000.

HB2492 Engrossed - 35 - LRB103 26244 RJT 52604 b
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after April 9, 2013.
The debt incurred on any bonds issued under this
subsection (p-85) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-85) must mature within not to exceed 30
years from their date, notwithstanding any other law,
including Section 19-3 of this Code, to the contrary.
(p-90) In addition to all other authority to issue bonds,
Lebanon Community Unit School District 9 may issue bonds with
an aggregate principal amount not to exceed $7,500,000, but
only if all of the following conditions are met:
(1) The voters of the district approved a proposition
for the bond issuance at the general primary election on
February 2, 2010.
(2) At or prior to the time of the sale of the bonds,
the school board determines, by resolution, that (i) the
building and equipping of a new elementary school building
is required as a result of a projected increase in the
enrollment of students in the district and the age and
condition of the existing Lebanon Elementary School
building, (ii) a portion of the existing Lebanon
Elementary School building will be demolished and the

HB2492 Engrossed - 36 - LRB103 26244 RJT 52604 b
remaining portion will be altered, repaired, and equipped,
and (iii) the sale of bonds is authorized by a statute that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) The bonds are issued, in one or more bond
issuances, on or before April 1, 2014, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $7,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at the general
primary election held on February 2, 2010.
The debt incurred on any bonds issued under this
subsection (p-90) shall not be considered indebtedness for
purposes of any statutory debt limitation.
(p-95) In addition to all other authority to issue bonds,
Monticello Community Unit School District 25 may issue bonds
with an aggregate principal amount not to exceed $35,000,000,
but only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after
November 4, 2014.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required as a result

HB2492 Engrossed - 37 - LRB103 26244 RJT 52604 b
of the age and condition of an existing school building
and (ii) the issuance of bonds is authorized by a statute
that exempts the debt incurred on the bonds from the
district's statutory debt limitation.
(3) The bonds are issued, in one or more issuances, on
or before July 1, 2020, but the aggregate principal amount
issued in all such bond issuances combined must not exceed
$35,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after November 4, 2014.
The debt incurred on any bonds issued under this
subsection (p-95) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-95) must mature within not to exceed 25
years from their date, notwithstanding any other law,
including Section 19-3 of this Code, to the contrary.
(p-100) In addition to all other authority to issue bonds,
the community unit school district created in the territory
comprising Milford Community Consolidated School District 280
and Milford Township High School District 233, as approved at
the general primary election held on March 18, 2014, may issue
bonds with an aggregate principal amount not to exceed
$17,500,000, but only if all the following conditions are met:

HB2492 Engrossed - 38 - LRB103 26244 RJT 52604 b
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after
November 4, 2014.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required as a result
of the age and condition of an existing school building
and (ii) the issuance of bonds is authorized by a statute
that exempts the debt incurred on the bonds from the
district's statutory debt limitation.
(3) The bonds are issued, in one or more issuances, on
or before July 1, 2020, but the aggregate principal amount
issued in all such bond issuances combined must not exceed
$17,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after November 4, 2014.
The debt incurred on any bonds issued under this
subsection (p-100) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-100) must mature within not to exceed 25
years from their date, notwithstanding any other law,
including Section 19-3 of this Code, to the contrary.
(p-105) In addition to all other authority to issue bonds,

HB2492 Engrossed - 39 - LRB103 26244 RJT 52604 b
North Shore School District 112 may issue bonds with an
aggregate principal amount not to exceed $150,000,000, but
only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
15, 2016.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of new buildings and improving the sites thereof
and the building and equipping of additions to, altering,
repairing, equipping, and renovating existing buildings
and improving the sites thereof are required as a result
of the age and condition of the district's existing
buildings and (ii) the issuance of bonds is authorized by
a statute that exempts the debt incurred on the bonds from
the district's statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $150,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after March 15, 2016.

HB2492 Engrossed - 40 - LRB103 26244 RJT 52604 b
The debt incurred on any bonds issued under this
subsection (p-105) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-105) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 30 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-110) In addition to all other authority to issue bonds,
Sandoval Community Unit School District 501 may issue bonds
with an aggregate principal amount not to exceed $2,000,000,
but only if all of the following conditions are met:
(1) The voters of the district approved a proposition
for the bond issuance at an election held on March 20,
2012.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of a new school building is required because of
the age and current condition of the Sandoval Elementary
School building and (ii) the issuance of bonds is
authorized by a statute that exempts the debt incurred on
the bonds from the district's statutory debt limitation.
(3) The bonds are issued, in one or more bond
issuances, on or before March 19, 2022, but the aggregate
principal amount issued in all such bond issuances

HB2492 Engrossed - 41 - LRB103 26244 RJT 52604 b
combined must not exceed $2,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at the election
held on March 20, 2012.
The debt incurred on any bonds issued under this
subsection (p-110) and on any bonds issued to refund or
continue to refund the bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
(p-115) In addition to all other authority to issue bonds,
Bureau Valley Community Unit School District 340 may issue
bonds with an aggregate principal amount not to exceed
$25,000,000, but only if all of the following conditions are
met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
15, 2016.
(2) Prior to the issuances of the bonds, the school
board determines, by resolution, that (i) 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 (ii) the issuance of bonds is authorized by
a statute that exempts the debt incurred on the bonds from

HB2492 Engrossed - 42 - LRB103 26244 RJT 52604 b
the district's statutory debt limitation.
(3) The bonds are issued, in one or more issuances, on
or before July 1, 2021, but the aggregate principal amount
issued in all such bond issuances combined must not exceed
$25,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after March 15, 2016.
The debt incurred on any bonds issued under this
subsection (p-115) shall not be considered indebtedness for
purposes of any statutory debt limitation. Bonds issued under
this subsection (p-115) must mature within not to exceed 30
years from their date, notwithstanding any other law,
including Section 19-3 of this Code, to the contrary.
(p-120) In addition to all other authority to issue bonds,
Paxton-Buckley-Loda Community Unit School District 10 may
issue bonds with an aggregate principal amount not to exceed
$28,500,000, but only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after
November 8, 2016.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the projects as
described in said proposition, relating to the building

HB2492 Engrossed - 43 - LRB103 26244 RJT 52604 b
and equipping of one or more school buildings or additions
to existing school buildings, are required as a result of
the age and condition of the District's existing buildings
and (ii) the issuance of bonds is authorized by a statute
that exempts the debt incurred on the bonds from the
district's statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $28,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after November 8, 2016.
The debt incurred on any bonds issued under this
subsection (p-120) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-120) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-125) In addition to all other authority to issue bonds,

HB2492 Engrossed - 44 - LRB103 26244 RJT 52604 b
Hillsboro Community Unit School District 3 may issue bonds
with an aggregate principal amount not to exceed $34,500,000,
but only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
15, 2016.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) 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 (ii) the issuance of
bonds is authorized by a statute that exempts the debt
incurred on the bonds from the district's statutory debt
limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $34,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election

HB2492 Engrossed - 45 - LRB103 26244 RJT 52604 b
held on or after March 15, 2016.
The debt incurred on any bonds issued under this
subsection (p-125) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-125) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-130) In addition to all other authority to issue bonds,
Waltham Community Consolidated School District 185 may incur
indebtedness in an aggregate principal amount not to exceed
$9,500,000 to build and equip a new school building and
improve the site thereof, but only if all the following
conditions are met:
(1) A majority of the voters of the district voting on
an advisory question voted in favor of the question
regarding the use of funding sources to build a new school
building without increasing property tax rates at the
general election held on November 8, 2016.
(2) Prior to incurring the debt, the school board
enters into intergovernmental agreements with the City of
LaSalle to pledge moneys in a special tax allocation fund
associated with tax increment financing districts LaSalle
I and LaSalle III and with the Village of Utica to pledge

HB2492 Engrossed - 46 - LRB103 26244 RJT 52604 b
moneys in a special tax allocation fund associated with
tax increment financing district Utica I for the purposes
of repaying the debt issued pursuant to this subsection
(p-130). Notwithstanding any other provision of law to the
contrary, the intergovernmental agreement may extend these
tax increment financing districts as necessary to ensure
repayment of the debt.
(3) Prior to incurring the debt, the school board
determines, by resolution, that (i) the building and
equipping of a new school building is required as a result
of the age and condition of the district's existing
buildings and (ii) the debt is authorized by a statute
that exempts the debt from the district's statutory debt
limitation.
(4) The debt is incurred, in one or more issuances,
not later than January 1, 2021, and the aggregate
principal amount of debt issued in all such issuances
combined must not exceed $9,500,000.
The debt incurred under this subsection (p-130) and on any
bonds issued to pay, refund, or continue to refund such debt
shall not be considered indebtedness for purposes of any
statutory debt limitation. Debt issued under this subsection
(p-130) and any bonds issued to pay, refund, or continue to
refund such debt must mature within not to exceed 25 years from
their date, notwithstanding any other law, including Section
19-11 of this Code and subsection (b) of Section 17 of the

HB2492 Engrossed - 47 - LRB103 26244 RJT 52604 b
Local Government Debt Reform Act, to the contrary.
(p-133) Notwithstanding the provisions of subsection (a)
of this Section or of any other law, bonds heretofore or
hereafter issued by East Prairie School District 73 with an
aggregate principal amount not to exceed $47,353,147 and
approved by the voters of the district at the general election
held on November 8, 2016, and any bonds issued to refund or
continue to refund the bonds, shall not be considered
indebtedness for the purposes of any statutory debt limitation
and may mature within not to exceed 25 years from their date,
notwithstanding any other law, including Section 19-3 of this
Code, to the contrary.
(p-135) In addition to all other authority to issue bonds,
Brookfield LaGrange Park School District Number 95 may issue
bonds with an aggregate principal amount not to exceed
$20,000,000, but only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after April
4, 2017.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the additions
and renovations to the Brook Park Elementary and S. E.
Gross Middle School buildings are required to accommodate
enrollment growth, replace outdated facilities, and create
spaces consistent with 21st century learning and (ii) the
issuance of the bonds is authorized by a statute that

HB2492 Engrossed - 48 - LRB103 26244 RJT 52604 b
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $20,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after April 4, 2017.
The debt incurred on any bonds issued under this
subsection (p-135) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
(p-140) The debt incurred on any bonds issued by Wolf
Branch School District 113 under Section 17-2.11 of this Code
for the purpose of repairing or replacing all or a portion of a
school building that has been damaged by mine subsidence in an
aggregate principal amount not to exceed $17,500,000 and on
any bonds issued to refund or continue to refund those bonds
shall not be considered indebtedness for purposes of any
statutory debt limitation and must mature no later than 25
years from the date of issuance, notwithstanding any other
provision of law to the contrary, including Section 19-3 of

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this Code. The maximum allowable amount of debt exempt from
statutory debt limitations under this subsection (p-140) shall
be reduced by an amount equal to any grants awarded by the
State Board of Education or Capital Development Board for the
explicit purpose of repairing or reconstructing a school
building damaged by mine subsidence.
(p-145) In addition to all other authority to issue bonds,
Greenview Community Unit School District 200 may issue bonds
with an aggregate principal amount not to exceed $3,500,000,
but only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on March 17,
2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that the bonding is
necessary for construction and expansion of the district's
kindergarten through grade 12 facility.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $3,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election

HB2492 Engrossed - 50 - LRB103 26244 RJT 52604 b
held on March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-145) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-145) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-150) In addition to all other authority to issue bonds,
Komarek School District 94 may issue bonds with an aggregate
principal amount not to exceed $20,800,000, but only if all of
the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
17, 2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) building and
equipping additions to, altering, repairing, equipping, or
demolishing a portion of, or improving the site of the
district's existing school building is required as a
result of the age and condition of the existing building
and (ii) the issuance of the bonds is authorized by a
statute that exempts the debt incurred on the bonds from
the district's statutory debt limitation.

HB2492 Engrossed - 51 - LRB103 26244 RJT 52604 b
(3) The bonds are issued, in one or more issuances, no
later than 5 years after the date of the referendum
approving the issuance of the bonds, but the aggregate
principal amount issued in all of the bond issuances
combined may not exceed $20,800,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at an election
held on or after March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-150) and on any bonds issued to refund or
continue to refund those bonds may not be considered
indebtedness for purposes of any statutory debt limitation.
Notwithstanding any other law to the contrary, including
Section 19-3, bonds issued under this subsection (p-150) and
any bonds issued to refund or continue to refund those bonds
must mature within 30 years from their date of issuance.
(p-155) In addition to all other authority to issue bonds,
Williamsville Community Unit School District 15 may issue
bonds with an aggregate principal amount not to exceed
$40,000,000, but only if all of the following conditions are
met:
(1) The voters of the school district approve a
proposition for the bond issuance at an election held on
March 17, 2020.

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(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that the projects set
forth in the proposition for the bond issuance were and
are required because of the age and condition of the
school district's existing school buildings.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $40,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-155) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-155) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-160) In addition to all other authority to issue bonds,
Berkeley School District 87 may issue bonds with an aggregate

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principal amount not to exceed $105,000,000, but only if all
of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at the general primary election held
on March 17, 2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) building and
equipping a school building to replace the Sunnyside
Intermediate and MacArthur Middle School buildings;
building and equipping additions to and altering,
repairing, and equipping the Riley Intermediate and
Northlake Middle School buildings; altering, repairing,
and equipping the Whittier Primary and Jefferson Primary
School buildings; improving sites; renovating
instructional spaces; providing STEM (science, technology,
engineering, and mathematics) labs; and constructing life
safety, security, and infrastructure improvements are
required to replace outdated facilities and to provide
safe spaces consistent with 21st century learning and (ii)
the issuance of bonds is authorized by a statute that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances

HB2492 Engrossed - 54 - LRB103 26244 RJT 52604 b
combined must not exceed $105,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only those projects approved by the voters at the general
primary election held on March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-160) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
(p-165) In addition to all other authority to issue bonds,
Elmwood Park Community Unit School District 401 may issue
bonds with an aggregate principal amount not to exceed
$55,000,000, but only if all of the following conditions are
met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
17, 2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the building and
equipping of an addition to the John Mills Elementary
School building; the renovating, altering, repairing, and
equipping of the John Mills and Elmwood Elementary School
buildings; the installation of safety and security
improvements; and the improvement of school sites are
required as a result of the age and condition of the

HB2492 Engrossed - 55 - LRB103 26244 RJT 52604 b
district's existing school buildings and (ii) the issuance
of bonds is authorized by a statute that exempts the debt
incurred on the bonds from the district's statutory debt
limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $55,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-165) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-165) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-170) In addition to all other authority to issue bonds,
Maroa-Forsyth Community Unit School District 2 may issue bonds
with an aggregate principal amount not to exceed $33,000,000,

HB2492 Engrossed - 56 - LRB103 26244 RJT 52604 b
but only if all of the following conditions are met:
(1) The voters of the school district approve a
proposition for the bond issuance at an election held on
March 17, 2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that the projects set
forth in the proposition for the bond issuance were and
are required because of the age and condition of the
school district's existing school buildings.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $33,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-170) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-170) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding

HB2492 Engrossed - 57 - LRB103 26244 RJT 52604 b
any other law, including Section 19-3 of this Code, to the
contrary.
(p-175) In addition to all other authority to issue bonds,
Schiller Park School District 81 may issue bonds with an
aggregate principal amount not to exceed $30,000,000, but only
if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after March
17, 2020.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) building and
equipping a school building to replace the Washington
Elementary School building, installing fire suppression
systems, security systems, and federal Americans with
Disability Act of 1990 compliance measures, acquiring
land, and improving the site are required to accommodate
enrollment growth, replace an outdated facility, and
create spaces consistent with 21st century learning and
(ii) the issuance of bonds is authorized by a statute that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $30,000,000.

HB2492 Engrossed - 58 - LRB103 26244 RJT 52604 b
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after March 17, 2020.
The debt incurred on any bonds issued under this
subsection (p-175) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-175) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 27 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-180) In addition to all other authority to issue bonds,
Iroquois County Community Unit School District 9 may issue
bonds with an aggregate principal amount not to exceed
$17,125,000, but only if all of the following conditions are
met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after April
6, 2021.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) building and
equipping a new school building in the City of Watseka;
altering, repairing, renovating, and equipping portions of

HB2492 Engrossed - 59 - LRB103 26244 RJT 52604 b
the existing facilities of the district; and making site
improvements is necessary because of the age and condition
of the district's existing school facilities and (ii) the
issuance of bonds is authorized by a statute that exempts
the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $17,125,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after April 6, 2021.
The debt incurred on any bonds issued under this
subsection (p-180) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-180) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-185) In addition to all other authority to issue bonds,

HB2492 Engrossed - 60 - LRB103 26244 RJT 52604 b
Field Community Consolidated School District 3 may issue bonds
with an aggregate principal amount not to exceed $2,600,000,
but only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after April
6, 2021.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) it is necessary
to alter, repair, renovate, and equip the existing
facilities of the district, including, but not limited to,
roof replacement, lighting replacement, electrical
upgrades, restroom repairs, and gym renovations, and make
site improvements because of the age and condition of the
district's existing school facilities and (ii) the
issuance of bonds is authorized by a statute that exempts
the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $2,600,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election

HB2492 Engrossed - 61 - LRB103 26244 RJT 52604 b
held on or after April 6, 2021.
The debt incurred on any bonds issued under this
subsection (p-185) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-185) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-190) In addition to all other authority to issue bonds,
Mahomet-Seymour Community Unit School District 3 may issue
bonds with an aggregate principal amount not to exceed
$97,900,000, but only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) it is necessary
to build and equip a new junior high school building,
build and equip a new transportation building, and build
and equip additions to, renovate, and make site
improvements at the Lincoln Trail Elementary building,
Middletown Prairie Elementary building, and
Mahomet-Seymour High School building and (ii) the issuance
of bonds is authorized by a statute that exempts the debt

HB2492 Engrossed - 62 - LRB103 26244 RJT 52604 b
incurred on the bonds from the district's statutory debt
limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $97,900,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-190) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-190) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-195) In addition to all other authority to issue bonds,
New Berlin Community Unit School District 16 may issue bonds
with an aggregate principal amount not to exceed $23,500,000,
but only if all the following conditions are met:
(1) The voters of the district approve a proposition

HB2492 Engrossed - 63 - LRB103 26244 RJT 52604 b
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) it is necessary
to alter, repair, and equip the junior/senior high school
building, including creating new classroom, gym, and other
instructional spaces, renovating the J.V. Kirby Pretzel
Dome, improving heating, cooling, and ventilation systems,
installing school safety and security improvements,
removing asbestos, and making site improvements, and (ii)
the issuance of bonds is authorized by a statute that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $23,500,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-195) and on any bonds issued to refund or
continue to refund such bonds shall not be considered

HB2492 Engrossed - 64 - LRB103 26244 RJT 52604 b
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-195) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-200) In addition to all other authority to issue bonds,
Highland Community Unit School District 5 may issue bonds with
an aggregate principal amount not to exceed $40,000,000, but
only if all the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) it is necessary
to improve the sites of, build, and equip a new primary
school building and build and equip additions to and
alter, repair, and equip existing school buildings and
(ii) the issuance of bonds is authorized by a statute that
exempts the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $40,000,000.

HB2492 Engrossed - 65 - LRB103 26244 RJT 52604 b
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-200) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-200) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-205) In addition to all other authority to issue bonds,
Sullivan Community Unit School District 300 may issue bonds
with an aggregate principal amount not to exceed $25,000,000,
but only if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) the projects set
forth in the proposition for the issuance of the bonds are
required because of the age, condition, or capacity of the
school district's existing school buildings and (ii) the

HB2492 Engrossed - 66 - LRB103 26244 RJT 52604 b
issuance of bonds is authorized by a statute that exempts
the debt incurred on the bonds from the district's
statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $25,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-205) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-205) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-210) In addition to all other authority to issue bonds,
Manhattan School District 114 may issue bonds with an
aggregate principal amount not to exceed $85,000,000, but only
if all the following conditions are met:

HB2492 Engrossed - 67 - LRB103 26244 RJT 52604 b
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that the projects set
forth in the proposition for the bond issuance were and
are required because of the age, condition, or capacity of
the school district's existing school buildings.
(3) The bonds are issued, in one or more issuances,
not later than 5 years after the date of the referendum
approving the issuances of the bonds, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $85,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-210) and on any bonds issued to refund or
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-210) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 30 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the

HB2492 Engrossed - 68 - LRB103 26244 RJT 52604 b
contrary.
(p-215) In addition to all other authority to issue bonds,
Golf Elementary School District 67 may issue bonds with an
aggregate principal amount not to exceed $56,000,000, but only
if all of the following conditions are met:
(1) The voters of the district approve a proposition
for the bond issuance at an election held on or after June
28, 2022.
(2) Prior to the issuance of the bonds, the school
board determines, by resolution, that (i) it is necessary
to build and equip a new school building and improve the
site thereof and (ii) the issuance of bonds is authorized
by a statute that exempts the debt incurred on the bonds
from the district's statutory debt limitation.
(3) 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, but the aggregate
principal amount issued in all such bond issuances
combined must not exceed $56,000,000.
(4) The bonds are issued in accordance with this
Article.
(5) The proceeds of the bonds are used to accomplish
only the projects approved by the voters at an election
held on or after June 28, 2022.
The debt incurred on any bonds issued under this
subsection (p-215) and on any bonds issued to refund or

HB2492 Engrossed - 69 - LRB103 26244 RJT 52604 b
continue to refund such bonds shall not be considered
indebtedness for purposes of any statutory debt limitation.
Bonds issued under this subsection (p-215) and any bonds
issued to refund or continue to refund such bonds must mature
within not to exceed 25 years from their date, notwithstanding
any other law, including Section 19-3 of this Code, to the
contrary.
(p-220) Notwithstanding the provisions of subsection (a)
of this Section or of any other law, a school district may
issue bonds or certificates to finance guaranteed energy
savings contracts pursuant to Article 19b of this Code, and
any bonds or certificates so issued shall not be considered
indebtedness for purposes of any statutory limitation and may
be issued in an amount or amounts, including existing
indebtedness, in excess of any heretofore or hereafter imposed
statutory limitation as to indebtedness.
(q) A school district must notify the State Board of
Education prior to issuing any form of long-term or short-term
debt that will result in outstanding debt that exceeds 75% of
the debt limit specified in this Section or any other
provision of law.
(Source: P.A. 101-646, eff. 6-26-20; 102-316, eff. 8-6-21;
102-949, eff. 5-27-22.)
(105 ILCS 5/19b-5.5 new)
Sec. 19b-5.5. Indebtedness and bonds. The school board of

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any school district, whether organized under a general law or
special charter, having a population of less than 500,000
inhabitants may, by resolution, incur an indebtedness and
issue bonds as evidence thereof in an amount or amounts not
exceeding the aggregate cost of all expenditures reasonably
expected to be incurred pursuant to a guaranteed energy
savings contract entered into in accordance with this Article.
The bonds shall bear interest at not more than the maximum rate
authorized by law and shall mature within 20 years from the
date thereof.
All contracts paid by bonds issued pursuant to this
Section shall include a requirement that the qualified
provider (i) enter into a project labor agreement with the
applicable building and construction trades council and (ii)
provide a plan to comply with the utilization goals for
business enterprises established in the Business Enterprise
for Minorities, Women, and Persons with Disabilities Act.
(105 ILCS 5/19b-6) (from Ch. 122, par. 19b-6)
Sec. 19b-6. Term; budget and appropriations. Guaranteed
energy savings contracts may extend beyond the fiscal year in
which they become effective. The school district or area
vocational center shall include in its annual budget and
appropriations measures for each subsequent fiscal year any
amounts payable under guaranteed energy savings contracts
during that fiscal year. Sections 2-3.12 and , 3-14.20, and

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10-22.36 of this the School Code shall apply to this Article
19b.
(Source: P.A. 92-767, eff. 8-6-02.)