Bill Text: IL SB1293 | 2009-2010 | 96th General Assembly | Enrolled
Bill Title: Amends the School Code. In a Section concerning the debt limitations of school districts, allows Belle Valley School District 119 to issue bonds with an aggregate principal amount not to exceed $47,500,000 if, among other conditions, (i) the voters of the school district approve a proposition for the bond issuance at an election held on or after April 7, 2009; (ii) the building and equipping of a new school building is required as a result of mine subsidence in an existing school building and because of the age and condition of another existing school building; and (iii) the bonds are issued on or before December 31, 2013. Provides that the bonds must mature within not to exceed 40 years from their date, notwithstanding any other law to the contrary. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2009-07-23 - Public Act . . . . . . . . . 96-0063 [SB1293 Detail]
Download: Illinois-2009-SB1293-Enrolled.html
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1 | AN ACT concerning education.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The School Code is amended by changing Section | ||||||
5 | 19-1 as follows:
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6 | (105 ILCS 5/19-1) (from Ch. 122, par. 19-1)
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7 | Sec. 19-1. Debt limitations of school districts.
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8 | (a) School districts shall not be subject to the provisions | ||||||
9 | limiting their
indebtedness prescribed in "An Act to limit the | ||||||
10 | indebtedness of counties having
a population of less than | ||||||
11 | 500,000 and townships, school districts and other
municipal | ||||||
12 | corporations having a population of less than 300,000", | ||||||
13 | approved
February 15, 1928, as amended.
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14 | No school districts maintaining grades K through 8 or 9 | ||||||
15 | through 12
shall become indebted in any manner or for any | ||||||
16 | purpose to an amount,
including existing indebtedness, in the | ||||||
17 | aggregate exceeding 6.9% on the
value of the taxable property | ||||||
18 | therein to be ascertained by the last assessment
for State and | ||||||
19 | county taxes or, until January 1, 1983, if greater, the sum | ||||||
20 | that
is produced by multiplying the school district's 1978 | ||||||
21 | equalized assessed
valuation by the debt limitation percentage | ||||||
22 | in effect on January 1, 1979,
previous to the incurring of such | ||||||
23 | indebtedness.
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1 | No school districts maintaining grades K through 12 shall | ||||||
2 | become
indebted in any manner or for any purpose to an amount, | ||||||
3 | including
existing indebtedness, in the aggregate exceeding | ||||||
4 | 13.8% on the value of
the taxable property therein to be | ||||||
5 | ascertained by the last assessment
for State and county taxes | ||||||
6 | or, until January 1, 1983, if greater, the sum that
is produced | ||||||
7 | by multiplying the school district's 1978 equalized assessed
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8 | valuation by the debt limitation percentage in effect on | ||||||
9 | January 1, 1979,
previous to the incurring of such | ||||||
10 | indebtedness.
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11 | No partial elementary unit district, as defined in Article | ||||||
12 | 11E of this Code, shall become indebted in any manner or for | ||||||
13 | any purpose in an amount, including existing indebtedness, in | ||||||
14 | the aggregate exceeding 6.9% of the value of the taxable | ||||||
15 | property of the entire district, to be ascertained by the last | ||||||
16 | assessment for State and county taxes, plus an amount, | ||||||
17 | including existing indebtedness, in the aggregate exceeding | ||||||
18 | 6.9% of the value of the taxable property of that portion of | ||||||
19 | the district included in the elementary and high school | ||||||
20 | classification, to be ascertained by the last assessment for | ||||||
21 | State and county taxes. Moreover, no partial elementary unit | ||||||
22 | district, as defined in Article 11E of this Code, shall become | ||||||
23 | indebted on account of bonds issued by the district for high | ||||||
24 | school purposes in the aggregate exceeding 6.9% of the value of | ||||||
25 | the taxable property of the entire district, to be ascertained | ||||||
26 | by the last assessment for State and county taxes, nor shall |
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1 | the district become indebted on account of bonds issued by the | ||||||
2 | district for elementary purposes in the aggregate exceeding | ||||||
3 | 6.9% of the value of the taxable property for that portion of | ||||||
4 | the district included in the elementary and high school | ||||||
5 | classification, to be ascertained by the last assessment for | ||||||
6 | State and county taxes.
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7 | Notwithstanding the provisions of any other law to the | ||||||
8 | contrary, in any
case in which the voters of a school district | ||||||
9 | have approved a proposition
for the issuance of bonds of such | ||||||
10 | school district at an election held prior
to January 1, 1979, | ||||||
11 | and all of the bonds approved at such election have
not been | ||||||
12 | issued, the debt limitation applicable to such school district
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13 | during the calendar year 1979 shall be computed by multiplying | ||||||
14 | the value
of taxable property therein, including personal | ||||||
15 | property, as ascertained
by the last assessment for State and | ||||||
16 | county taxes, previous to the incurring
of such indebtedness, | ||||||
17 | by the percentage limitation applicable to such school
district | ||||||
18 | under the provisions of this subsection (a).
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19 | (b) Notwithstanding the debt limitation prescribed in | ||||||
20 | subsection (a)
of this Section, additional indebtedness may be | ||||||
21 | incurred in an amount
not to exceed the estimated cost of | ||||||
22 | acquiring or improving school sites
or constructing and | ||||||
23 | equipping additional building facilities under the
following | ||||||
24 | conditions:
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25 | (1) Whenever the enrollment of students for the next | ||||||
26 | school year is
estimated by the board of education to |
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1 | increase over the actual present
enrollment by not less | ||||||
2 | than 35% or by not less than 200 students or the
actual | ||||||
3 | present enrollment of students has increased over the | ||||||
4 | previous
school year by not less than 35% or by not less | ||||||
5 | than 200 students and
the board of education determines | ||||||
6 | that additional school sites or
building facilities are | ||||||
7 | required as a result of such increase in
enrollment; and
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8 | (2) When the Regional Superintendent of Schools having | ||||||
9 | jurisdiction
over the school district and the State | ||||||
10 | Superintendent of Education
concur in such enrollment | ||||||
11 | projection or increase and approve the need
for such | ||||||
12 | additional school sites or building facilities and the
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13 | estimated cost thereof; and
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14 | (3) When the voters in the school district approve a | ||||||
15 | proposition for
the issuance of bonds for the purpose of | ||||||
16 | acquiring or improving such
needed school sites or | ||||||
17 | constructing and equipping such needed additional
building | ||||||
18 | facilities at an election called and held for that purpose.
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19 | Notice of such an election shall state that the amount of | ||||||
20 | indebtedness
proposed to be incurred would exceed the debt | ||||||
21 | limitation otherwise
applicable to the school district. | ||||||
22 | The ballot for such proposition
shall state what percentage | ||||||
23 | of the equalized assessed valuation will be
outstanding in | ||||||
24 | bonds if the proposed issuance of bonds is approved by
the | ||||||
25 | voters; or
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26 | (4) Notwithstanding the provisions of paragraphs (1) |
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1 | through (3) of
this subsection (b), if the school board | ||||||
2 | determines that additional
facilities are needed to | ||||||
3 | provide a quality educational program and not
less than 2/3 | ||||||
4 | of those voting in an election called by the school board
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5 | on the question approve the issuance of bonds for the | ||||||
6 | construction of
such facilities, the school district may | ||||||
7 | issue bonds for this
purpose; or
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8 | (5) Notwithstanding the provisions of paragraphs (1) | ||||||
9 | through (3) of this
subsection (b), if (i) the school | ||||||
10 | district has previously availed itself of the
provisions of | ||||||
11 | paragraph (4) of this subsection (b) to enable it to issue | ||||||
12 | bonds,
(ii) the voters of the school district have not | ||||||
13 | defeated a proposition for the
issuance of bonds since the | ||||||
14 | referendum described in paragraph (4) of this
subsection | ||||||
15 | (b) was held, (iii) the school board determines that | ||||||
16 | additional
facilities are needed to provide a quality | ||||||
17 | educational program, and (iv) a
majority of those voting in | ||||||
18 | an election called by the school board on the
question | ||||||
19 | approve the issuance of bonds for the construction of such | ||||||
20 | facilities,
the school district may issue bonds for this | ||||||
21 | purpose.
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22 | In no event shall the indebtedness incurred pursuant to | ||||||
23 | this
subsection (b) and the existing indebtedness of the school | ||||||
24 | district
exceed 15% of the value of the taxable property | ||||||
25 | therein to be
ascertained by the last assessment for State and | ||||||
26 | county taxes, previous
to the incurring of such indebtedness |
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1 | or, until January 1, 1983, if greater,
the sum that is produced | ||||||
2 | by multiplying the school district's 1978 equalized
assessed | ||||||
3 | valuation by the debt limitation percentage in effect on | ||||||
4 | January 1,
1979.
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5 | The indebtedness provided for by this subsection (b) shall | ||||||
6 | be in
addition to and in excess of any other debt limitation.
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7 | (c) Notwithstanding the debt limitation prescribed in | ||||||
8 | subsection (a)
of this Section, in any case in which a public | ||||||
9 | question for the issuance
of bonds of a proposed school | ||||||
10 | district maintaining grades kindergarten
through 12 received | ||||||
11 | at least 60% of the valid ballots cast on the question at
an | ||||||
12 | election held on or prior to November 8, 1994, and in which the | ||||||
13 | bonds
approved at such election have not been issued, the | ||||||
14 | school district pursuant to
the requirements of Section 11A-10 | ||||||
15 | (now repealed) may issue the total amount of bonds approved
at | ||||||
16 | such election for the purpose stated in the question.
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17 | (d) Notwithstanding the debt limitation prescribed in | ||||||
18 | subsection (a)
of this Section, a school district that meets | ||||||
19 | all the criteria set forth in
paragraphs (1) and (2) of this | ||||||
20 | subsection (d) may incur an additional
indebtedness in an | ||||||
21 | amount not to exceed $4,500,000, even though the amount of
the | ||||||
22 | additional indebtedness authorized by this subsection (d), | ||||||
23 | when incurred
and added to the aggregate amount of indebtedness | ||||||
24 | of the district existing
immediately prior to the district | ||||||
25 | incurring the additional indebtedness
authorized by this | ||||||
26 | subsection (d), causes the aggregate indebtedness of the
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1 | district to exceed the debt limitation otherwise applicable to | ||||||
2 | that district
under subsection (a):
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3 | (1) The additional indebtedness authorized by this | ||||||
4 | subsection (d) is
incurred by the school district through | ||||||
5 | the issuance of bonds under and in
accordance with Section | ||||||
6 | 17-2.11a for the purpose of replacing a school
building | ||||||
7 | which, because of mine subsidence damage, has been closed | ||||||
8 | as provided
in paragraph (2) of this subsection (d) or | ||||||
9 | through the issuance of bonds under
and in accordance with | ||||||
10 | Section 19-3 for the purpose of increasing the size of,
or | ||||||
11 | providing for additional functions in, such replacement | ||||||
12 | school buildings, or
both such purposes.
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13 | (2) The bonds issued by the school district as provided | ||||||
14 | in paragraph (1)
above are issued for the purposes of | ||||||
15 | construction by the school district of
a new school | ||||||
16 | building pursuant to Section 17-2.11, to replace an | ||||||
17 | existing
school building that, because of mine subsidence | ||||||
18 | damage, is closed as of the
end of the 1992-93 school year | ||||||
19 | pursuant to action of the regional
superintendent of | ||||||
20 | schools of the educational service region in which the
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21 | district is located under Section 3-14.22 or are issued for | ||||||
22 | the purpose of
increasing the size of, or providing for | ||||||
23 | additional functions in, the new
school building being | ||||||
24 | constructed to replace a school building closed as the
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25 | result of mine subsidence damage, or both such purposes.
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26 | (e) (Blank).
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1 | (f) Notwithstanding the provisions of subsection (a) of | ||||||
2 | this Section or of
any other law, bonds in not to exceed the | ||||||
3 | aggregate amount of $5,500,000 and
issued by a school district | ||||||
4 | meeting the following criteria shall not be
considered | ||||||
5 | indebtedness for purposes of any statutory limitation and may | ||||||
6 | be
issued in an amount or amounts, including existing | ||||||
7 | indebtedness, in excess of
any heretofore or hereafter imposed | ||||||
8 | statutory limitation as to indebtedness:
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9 | (1) At the time of the sale of such bonds, the board of | ||||||
10 | education of the
district shall have determined by | ||||||
11 | resolution that the enrollment of students in
the district | ||||||
12 | is projected to increase by not less than 7% during each of | ||||||
13 | the
next succeeding 2 school years.
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14 | (2) The board of education shall also determine by | ||||||
15 | resolution that the
improvements to be financed with the | ||||||
16 | proceeds of the bonds are needed because
of the projected | ||||||
17 | enrollment increases.
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18 | (3) The board of education shall also determine by | ||||||
19 | resolution that the
projected increases in enrollment are | ||||||
20 | the result of improvements made or
expected to be made to | ||||||
21 | passenger rail facilities located in the school
district.
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22 | Notwithstanding the provisions of subsection (a) of this | ||||||
23 | Section or of any other law, a school district that has availed | ||||||
24 | itself of the provisions of this subsection (f) prior to July | ||||||
25 | 22, 2004 (the effective date of Public Act 93-799) may also | ||||||
26 | issue bonds approved by referendum up to an amount, including |
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1 | existing indebtedness, not exceeding 25% of the equalized | ||||||
2 | assessed value of the taxable property in the district if all | ||||||
3 | of the conditions set forth in items (1), (2), and (3) of this | ||||||
4 | subsection (f) are met.
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5 | (g) Notwithstanding the provisions of subsection (a) of | ||||||
6 | this Section or any
other law, bonds in not to exceed an | ||||||
7 | aggregate amount of 25% of the equalized
assessed value of the | ||||||
8 | taxable property of a school district and issued by a
school | ||||||
9 | district meeting the criteria in paragraphs (i) through (iv) of | ||||||
10 | this
subsection shall not be considered indebtedness for | ||||||
11 | purposes of any statutory
limitation and may be issued pursuant | ||||||
12 | to resolution of the school board in an
amount or amounts, | ||||||
13 | including existing indebtedness, in
excess of any statutory | ||||||
14 | limitation of indebtedness heretofore or hereafter
imposed:
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15 | (i) The bonds are issued for the purpose of | ||||||
16 | constructing a new high school
building to replace two | ||||||
17 | adjacent existing buildings which together house a
single | ||||||
18 | high school, each of which is more than 65 years old, and | ||||||
19 | which together
are located on more than 10 acres and less | ||||||
20 | than 11 acres of property.
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21 | (ii) At the time the resolution authorizing the | ||||||
22 | issuance of the bonds is
adopted, the cost of constructing | ||||||
23 | a new school building to replace the existing
school | ||||||
24 | building is less than 60% of the cost of repairing the | ||||||
25 | existing school
building.
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26 | (iii) The sale of the bonds occurs before July 1, 1997.
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1 | (iv) The school district issuing the bonds is a unit | ||||||
2 | school district
located in a county of less than 70,000 and | ||||||
3 | more than 50,000 inhabitants,
which has an average daily | ||||||
4 | attendance of less than 1,500 and an equalized
assessed | ||||||
5 | valuation of less than $29,000,000.
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6 | (h) Notwithstanding any other provisions of this Section or | ||||||
7 | the
provisions of any other law, until January 1, 1998, a | ||||||
8 | community unit school
district maintaining grades K through 12 | ||||||
9 | may issue bonds up to an amount,
including existing | ||||||
10 | indebtedness, not exceeding 27.6% of the equalized assessed
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11 | value of the taxable property in the district, if all of the | ||||||
12 | following
conditions are met:
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13 | (i) The school district has an equalized assessed | ||||||
14 | valuation for calendar
year 1995 of less than $24,000,000;
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15 | (ii) The bonds are issued for the capital improvement, | ||||||
16 | renovation,
rehabilitation, or replacement of existing | ||||||
17 | school buildings of the district,
all of which buildings | ||||||
18 | were originally constructed not less than 40 years ago;
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19 | (iii) The voters of the district approve a proposition | ||||||
20 | for the issuance of
the bonds at a referendum held after | ||||||
21 | March 19, 1996; and
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22 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
23 | through 19-7 of this
Code.
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24 | (i) Notwithstanding any other provisions of this Section or | ||||||
25 | the provisions
of any other law, until January 1, 1998, a | ||||||
26 | community unit school district
maintaining grades K through 12 |
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1 | may issue bonds up to an amount, including
existing | ||||||
2 | indebtedness, not exceeding 27% of the equalized assessed value | ||||||
3 | of the
taxable property in the district, if all of the | ||||||
4 | following conditions are met:
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5 | (i) The school district has an equalized assessed | ||||||
6 | valuation for calendar
year 1995 of less than $44,600,000;
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7 | (ii) The bonds are issued for the capital improvement, | ||||||
8 | renovation,
rehabilitation, or replacement
of existing | ||||||
9 | school buildings of the district, all of which
existing | ||||||
10 | buildings were originally constructed not less than 80 | ||||||
11 | years ago;
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12 | (iii) The voters of the district approve a proposition | ||||||
13 | for the issuance of
the bonds at a referendum held after | ||||||
14 | December 31, 1996; and
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15 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
16 | through 19-7 of this
Code.
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17 | (j) Notwithstanding any other provisions of this Section or | ||||||
18 | the
provisions of any other law, until January 1, 1999, a | ||||||
19 | community unit school
district maintaining grades K through 12 | ||||||
20 | may issue bonds up to an amount,
including existing | ||||||
21 | indebtedness, not exceeding 27% of the equalized assessed
value | ||||||
22 | of the taxable property in the district if all of the following
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23 | conditions are met:
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24 | (i) The school district has an equalized assessed | ||||||
25 | valuation for calendar
year 1995 of less than $140,000,000 | ||||||
26 | and a best 3 months
average daily
attendance for the |
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1 | 1995-96 school year of at least 2,800;
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2 | (ii) The bonds are issued to purchase a site and build | ||||||
3 | and equip a new
high school, and the school district's | ||||||
4 | existing high school was originally
constructed not less | ||||||
5 | than 35
years prior to the sale of the bonds;
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6 | (iii) At the time of the sale of the bonds, the board | ||||||
7 | of education
determines
by resolution that a new high | ||||||
8 | school is needed because of projected enrollment
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9 | increases;
| ||||||
10 | (iv) At least 60% of those voting in an election held
| ||||||
11 | after December 31, 1996 approve a proposition
for the | ||||||
12 | issuance of
the bonds; and
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13 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
14 | through
19-7 of this Code.
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15 | (k) Notwithstanding the debt limitation prescribed in | ||||||
16 | subsection (a) of
this Section, a school district that meets | ||||||
17 | all the criteria set forth in
paragraphs (1) through (4) of | ||||||
18 | this subsection (k) may issue bonds to incur an
additional | ||||||
19 | indebtedness in an amount not to exceed $4,000,000 even though | ||||||
20 | the
amount of the additional indebtedness authorized by this | ||||||
21 | subsection (k), when
incurred and added to the aggregate amount | ||||||
22 | of indebtedness of the school
district existing immediately | ||||||
23 | prior to the school district incurring such
additional | ||||||
24 | indebtedness, causes the aggregate indebtedness of the school
| ||||||
25 | district to exceed or increases the amount by which the | ||||||
26 | aggregate indebtedness
of the district already exceeds the debt |
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| |||||||
1 | limitation otherwise applicable to
that school district under | ||||||
2 | subsection (a):
| ||||||
3 | (1) the school district is located in 2 counties, and a | ||||||
4 | referendum to
authorize the additional indebtedness was | ||||||
5 | approved by a majority of the voters
of the school district | ||||||
6 | voting on the proposition to authorize that
indebtedness;
| ||||||
7 | (2) the additional indebtedness is for the purpose of | ||||||
8 | financing a
multi-purpose room addition to the existing | ||||||
9 | high school;
| ||||||
10 | (3) the additional indebtedness, together with the | ||||||
11 | existing indebtedness
of the school district, shall not | ||||||
12 | exceed 17.4% of the value of the taxable
property in the | ||||||
13 | school district, to be ascertained by the last assessment | ||||||
14 | for
State and county taxes; and
| ||||||
15 | (4) the bonds evidencing the additional indebtedness | ||||||
16 | are issued, if at
all, within 120 days of the effective | ||||||
17 | date of this amendatory Act of 1998.
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18 | (l) Notwithstanding any other provisions of this Section or | ||||||
19 | the
provisions of any other law, until January 1, 2000, a | ||||||
20 | school district
maintaining grades kindergarten through 8 may | ||||||
21 | issue bonds up to an amount,
including existing indebtedness, | ||||||
22 | not exceeding 15% of the equalized assessed
value of the | ||||||
23 | taxable property in the district if all of the following
| ||||||
24 | conditions are met:
| ||||||
25 | (i) the district has an equalized assessed valuation | ||||||
26 | for calendar year
1996 of less than $10,000,000;
|
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1 | (ii) the bonds are issued for capital improvement, | ||||||
2 | renovation,
rehabilitation, or replacement of one or more | ||||||
3 | school buildings of the district,
which buildings were | ||||||
4 | originally constructed not less than 70 years ago;
| ||||||
5 | (iii) the voters of the district approve a proposition | ||||||
6 | for the issuance of
the bonds at a referendum held on or | ||||||
7 | after March 17, 1998; and
| ||||||
8 | (iv) the bonds are issued pursuant to Sections 19-2 | ||||||
9 | through 19-7 of this
Code.
| ||||||
10 | (m) Notwithstanding any other provisions of this Section or | ||||||
11 | the provisions
of
any other law, until January 1, 1999, an | ||||||
12 | elementary school district maintaining
grades K through 8 may | ||||||
13 | issue bonds up to an amount, excluding existing
indebtedness, | ||||||
14 | not exceeding 18% of the equalized assessed value of the | ||||||
15 | taxable
property in the district, if all of the following | ||||||
16 | conditions are met:
| ||||||
17 | (i) The school district has an equalized assessed | ||||||
18 | valuation for calendar
year 1995 or less than $7,700,000;
| ||||||
19 | (ii) The school district operates 2 elementary | ||||||
20 | attendance centers that
until
1976 were operated as the | ||||||
21 | attendance centers of 2 separate and distinct school
| ||||||
22 | districts;
| ||||||
23 | (iii) The bonds are issued for the construction of a | ||||||
24 | new elementary school
building to replace an existing | ||||||
25 | multi-level elementary school building of the
school | ||||||
26 | district that is not handicapped accessible at all levels |
| |||||||
| |||||||
1 | and parts of
which were constructed more than 75 years ago;
| ||||||
2 | (iv) The voters of the school district approve a | ||||||
3 | proposition for the
issuance of the bonds at a referendum | ||||||
4 | held after July 1, 1998; and
| ||||||
5 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
6 | through 19-7 of this
Code.
| ||||||
7 | (n) Notwithstanding the debt limitation prescribed in | ||||||
8 | subsection (a) of
this Section or any other provisions of this | ||||||
9 | Section or of any other law, a
school district that meets all | ||||||
10 | of the criteria set forth in paragraphs (i)
through (vi) of | ||||||
11 | this subsection (n) may incur additional indebtedness by the
| ||||||
12 | issuance of bonds in an amount not exceeding the amount | ||||||
13 | certified by the
Capital Development Board to the school | ||||||
14 | district as provided in paragraph (iii)
of
this subsection (n), | ||||||
15 | even though the amount of the additional indebtedness so
| ||||||
16 | authorized, when incurred and added to the aggregate amount of | ||||||
17 | indebtedness of
the district existing immediately prior to the | ||||||
18 | district incurring the
additional indebtedness authorized by | ||||||
19 | this subsection (n), causes the aggregate
indebtedness of the | ||||||
20 | district to exceed the debt limitation otherwise applicable
by | ||||||
21 | law to that district:
| ||||||
22 | (i) The school district applies to the State Board of | ||||||
23 | Education for a
school construction project grant and | ||||||
24 | submits a district facilities plan in
support
of its | ||||||
25 | application pursuant to Section 5-20 of
the School | ||||||
26 | Construction Law.
|
| |||||||
| |||||||
1 | (ii) The school district's application and facilities | ||||||
2 | plan are approved
by,
and the district receives a grant | ||||||
3 | entitlement for a school construction project
issued by, | ||||||
4 | the State Board of Education under the School Construction | ||||||
5 | Law.
| ||||||
6 | (iii) The school district has exhausted its bonding | ||||||
7 | capacity or the unused
bonding capacity of the district is | ||||||
8 | less than the amount certified by the
Capital Development | ||||||
9 | Board to the district under Section 5-15 of the School
| ||||||
10 | Construction Law as the dollar amount of the school | ||||||
11 | construction project's cost
that the district will be | ||||||
12 | required to finance with non-grant funds in order to
| ||||||
13 | receive a school construction project grant under the | ||||||
14 | School Construction Law.
| ||||||
15 | (iv) The bonds are issued for a "school construction | ||||||
16 | project", as that
term is defined in Section 5-5 of the | ||||||
17 | School Construction Law, in an amount
that does not exceed | ||||||
18 | the dollar amount certified, as provided in paragraph
(iii) | ||||||
19 | of this subsection (n), by the Capital Development Board
to | ||||||
20 | the school
district under Section 5-15 of the School | ||||||
21 | Construction Law.
| ||||||
22 | (v) The voters of the district approve a proposition | ||||||
23 | for the issuance of
the bonds at a referendum held after | ||||||
24 | the criteria specified in paragraphs (i)
and (iii) of this | ||||||
25 | subsection (n) are met.
| ||||||
26 | (vi) The bonds are issued pursuant to Sections 19-2 |
| |||||||
| |||||||
1 | through 19-7 of the
School Code.
| ||||||
2 | (o) Notwithstanding any other provisions of this Section or | ||||||
3 | the
provisions of any other law, until November 1, 2007, a | ||||||
4 | community unit
school district maintaining grades K through 12 | ||||||
5 | may issue bonds up to
an amount, including existing | ||||||
6 | indebtedness, not exceeding 20% of the
equalized assessed value | ||||||
7 | of the taxable property in the district if all of the
following | ||||||
8 | conditions are met:
| ||||||
9 | (i) the school district has an equalized assessed | ||||||
10 | valuation
for calendar year 2001 of at least $737,000,000 | ||||||
11 | and an enrollment
for the 2002-2003 school year of at least | ||||||
12 | 8,500;
| ||||||
13 | (ii) the bonds are issued to purchase school sites, | ||||||
14 | build and
equip a new high school, build and equip a new | ||||||
15 | junior high school,
build and equip 5 new elementary | ||||||
16 | schools, and make technology
and other improvements and | ||||||
17 | additions to existing schools;
| ||||||
18 | (iii) at the time of the sale of the bonds, the board | ||||||
19 | of
education determines by resolution that the sites and | ||||||
20 | new or
improved facilities are needed because of projected | ||||||
21 | enrollment
increases;
| ||||||
22 | (iv) at least 57% of those voting in a general election | ||||||
23 | held
prior to January 1, 2003 approved a proposition for | ||||||
24 | the issuance of
the bonds; and
| ||||||
25 | (v) the bonds are issued pursuant to Sections 19-2 | ||||||
26 | through
19-7 of this Code.
|
| |||||||
| |||||||
1 | (p) Notwithstanding any other provisions of this Section or | ||||||
2 | the provisions of any other law, a community unit school | ||||||
3 | district maintaining grades K through 12 may issue bonds up to | ||||||
4 | an amount, including indebtedness, not exceeding 27% of the | ||||||
5 | equalized assessed value of the taxable property in the | ||||||
6 | district if all of the following conditions are met: | ||||||
7 | (i) The school district has an equalized assessed | ||||||
8 | valuation for calendar year 2001 of at least $295,741,187 | ||||||
9 | and a best 3 months' average daily attendance for the | ||||||
10 | 2002-2003 school year of at least 2,394. | ||||||
11 | (ii) The bonds are issued to build and equip 3 | ||||||
12 | elementary school buildings; build and equip one middle | ||||||
13 | school building; and alter, repair, improve, and equip all | ||||||
14 | existing school buildings in the district. | ||||||
15 | (iii) At the time of the sale of the bonds, the board | ||||||
16 | of education determines by resolution that the project is | ||||||
17 | needed because of expanding growth in the school district | ||||||
18 | and a projected enrollment increase. | ||||||
19 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
20 | through 19-7 of this Code.
| ||||||
21 | (p-5) Notwithstanding any other provisions of this Section | ||||||
22 | or the provisions of any other law, bonds issued by a community | ||||||
23 | unit school district maintaining grades K through 12 shall not | ||||||
24 | be considered indebtedness for purposes of any statutory | ||||||
25 | limitation and may be issued in an amount or amounts, including | ||||||
26 | existing indebtedness, in excess of any heretofore or hereafter |
| |||||||
| |||||||
1 | imposed statutory limitation as to indebtedness, if all of the | ||||||
2 | following conditions are met: | ||||||
3 | (i) For each of the 4 most recent years, residential | ||||||
4 | property comprises more than 80% of the equalized assessed | ||||||
5 | valuation of the district. | ||||||
6 | (ii) At least 2 school buildings that were constructed | ||||||
7 | 40 or more years prior to the issuance of the bonds will be | ||||||
8 | demolished and will be replaced by new buildings or | ||||||
9 | additions to one or more existing buildings. | ||||||
10 | (iii) Voters of the district approve a proposition for | ||||||
11 | the issuance of the bonds at a regularly scheduled | ||||||
12 | election. | ||||||
13 | (iv) At the time of the sale of the bonds, the school | ||||||
14 | board determines by resolution that the new buildings or | ||||||
15 | building additions are needed because of an increase in | ||||||
16 | enrollment projected by the school board. | ||||||
17 | (v) The principal amount of the bonds, including | ||||||
18 | existing indebtedness, does not exceed 25% of the equalized | ||||||
19 | assessed value of the taxable property in the district. | ||||||
20 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
21 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
22 | (p-10) Notwithstanding any other provisions of this | ||||||
23 | Section or the provisions of any other law, bonds issued by a | ||||||
24 | community consolidated school district maintaining grades K | ||||||
25 | through 8 shall not be considered indebtedness for purposes of | ||||||
26 | any statutory limitation and may be issued in an amount or |
| |||||||
| |||||||
1 | amounts, including existing indebtedness, in excess of any | ||||||
2 | heretofore or hereafter imposed statutory limitation as to | ||||||
3 | indebtedness, if all of the following conditions are met: | ||||||
4 | (i) For each of the 4 most recent years, residential | ||||||
5 | and farm property comprises more than 80% of the equalized | ||||||
6 | assessed valuation of the district. | ||||||
7 | (ii) The bond proceeds are to be used to acquire and | ||||||
8 | improve school sites and build and equip a school building. | ||||||
9 | (iii) Voters of the district approve a proposition for | ||||||
10 | the issuance of the bonds at a regularly scheduled | ||||||
11 | election. | ||||||
12 | (iv) At the time of the sale of the bonds, the school | ||||||
13 | board determines by resolution that the school sites and | ||||||
14 | building additions are needed because of an increase in | ||||||
15 | enrollment projected by the school board. | ||||||
16 | (v) The principal amount of the bonds, including | ||||||
17 | existing indebtedness, does not exceed 20% of the equalized | ||||||
18 | assessed value of the taxable property in the district. | ||||||
19 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
20 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
21 | (p-15) In addition to all other authority to issue bonds, | ||||||
22 | the Oswego Community Unit School District Number 308 may issue | ||||||
23 | bonds with an aggregate principal amount not to exceed | ||||||
24 | $450,000,000, but only if all of the following conditions are | ||||||
25 | met: | ||||||
26 | (i) The voters of the district have approved a |
| |||||||
| |||||||
1 | proposition for the bond issue at the general election held | ||||||
2 | on November 7, 2006. | ||||||
3 | (ii) At the time of the sale of the bonds, the school | ||||||
4 | board determines, by resolution, that: (A) the building and | ||||||
5 | equipping of the new high school building, new junior high | ||||||
6 | school buildings, new elementary school buildings, early | ||||||
7 | childhood building, maintenance building, transportation | ||||||
8 | facility, and additions to existing school buildings, the | ||||||
9 | altering, repairing, equipping, and provision of | ||||||
10 | technology improvements to existing school buildings, and | ||||||
11 | the acquisition and improvement of school sites, as the | ||||||
12 | case may be, are required as a result of a projected | ||||||
13 | increase in the enrollment of students in the district; and | ||||||
14 | (B) the sale of bonds for these purposes is authorized by | ||||||
15 | legislation that exempts the debt incurred on the bonds | ||||||
16 | from the district's statutory debt limitation.
| ||||||
17 | (iii) The bonds are issued, in one or more bond issues, | ||||||
18 | on or before November 7, 2011, but the aggregate principal | ||||||
19 | amount issued in all such bond issues combined must not | ||||||
20 | exceed $450,000,000.
| ||||||
21 | (iv) The bonds are issued in accordance with this | ||||||
22 | Article 19. | ||||||
23 | (v) The proceeds of the bonds are used only to | ||||||
24 | accomplish those projects approved by the voters at the | ||||||
25 | general election held on November 7, 2006. | ||||||
26 | The debt incurred on any bonds issued under this subsection |
| |||||||
| |||||||
1 | (p-15) shall not be considered indebtedness for purposes of any | ||||||
2 | statutory debt limitation.
| ||||||
3 | (p-20) In addition to all other authority to issue bonds, | ||||||
4 | the Lincoln-Way Community High School District Number 210 may | ||||||
5 | issue bonds with an aggregate principal amount not to exceed | ||||||
6 | $225,000,000, but only if all of the following conditions are | ||||||
7 | met: | ||||||
8 | (i) The voters of the district have approved a | ||||||
9 | proposition for the bond issue at the general primary | ||||||
10 | election held on March 21, 2006. | ||||||
11 | (ii) At the time of the sale of the bonds, the school | ||||||
12 | board determines, by resolution, that: (A) the building and | ||||||
13 | equipping of the new high school buildings, the altering, | ||||||
14 | repairing, and equipping of existing school buildings, and | ||||||
15 | the improvement of school sites, as the case may be, are | ||||||
16 | required as a result of a projected increase in the | ||||||
17 | enrollment of students in the district; and (B) the sale of | ||||||
18 | bonds for these purposes is authorized by legislation that | ||||||
19 | exempts the debt incurred on the bonds from the district's | ||||||
20 | statutory debt limitation.
| ||||||
21 | (iii) The bonds are issued, in one or more bond issues, | ||||||
22 | on or before March 21, 2011, but the aggregate principal | ||||||
23 | amount issued in all such bond issues combined must not | ||||||
24 | exceed $225,000,000.
| ||||||
25 | (iv) The bonds are issued in accordance with this | ||||||
26 | Article 19. |
| |||||||
| |||||||
1 | (v) The proceeds of the bonds are used only to | ||||||
2 | accomplish those projects approved by the voters at the | ||||||
3 | primary election held on March 21, 2006. | ||||||
4 | The debt incurred on any bonds issued under this subsection | ||||||
5 | (p-20) shall not be considered indebtedness for purposes of any | ||||||
6 | statutory debt limitation.
| ||||||
7 | (p-25) In addition to all other authority to issue bonds, | ||||||
8 | Rochester Community Unit School District 3A may issue bonds | ||||||
9 | with an aggregate principal amount not to exceed $15,000,000, | ||||||
10 | but only if all of the following conditions are met: | ||||||
11 | (i) The voters of the district approve a proposition | ||||||
12 | for the bond issuance at the general primary election held | ||||||
13 | in 2008.
| ||||||
14 | (ii) At the time of the sale of the bonds, the school | ||||||
15 | board determines, by resolution, that: (A) the building and | ||||||
16 | equipping of a new high school building; the addition of | ||||||
17 | classrooms and support facilities at the high school, | ||||||
18 | middle school, and elementary school; the altering, | ||||||
19 | repairing, and equipping of existing school buildings; and | ||||||
20 | the improvement of school sites, as the case may be, are | ||||||
21 | required as a result of a projected increase in the | ||||||
22 | enrollment of students in the district; and (B) the sale of | ||||||
23 | bonds for these purposes is authorized by a law that | ||||||
24 | exempts the debt incurred on the bonds from the district's | ||||||
25 | statutory debt limitation. | ||||||
26 | (iii) The bonds are issued, in one or more bond issues, |
| |||||||
| |||||||
1 | on or before December 31, 2012, but the aggregate principal | ||||||
2 | amount issued in all such bond issues combined must not | ||||||
3 | exceed $15,000,000. | ||||||
4 | (iv) The bonds are issued in accordance with this | ||||||
5 | Article 19. | ||||||
6 | (v) The proceeds of the bonds are used to accomplish | ||||||
7 | only those projects approved by the voters at the primary | ||||||
8 | election held in 2008.
| ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-25) shall not be considered indebtedness for purposes of any | ||||||
11 | statutory debt limitation.
| ||||||
12 | (p-30) In addition to all other authority to issue bonds, | ||||||
13 | Prairie Grove Consolidated School District 46 may issue bonds | ||||||
14 | with an aggregate principal amount not to exceed $30,000,000, | ||||||
15 | but only if all of the following conditions are met:
| ||||||
16 | (i) The voters of the district approve a proposition | ||||||
17 | for the bond issuance at an election held in 2008.
| ||||||
18 | (ii) At the time of the sale of the bonds, the school | ||||||
19 | board determines, by resolution, that (A) the building and | ||||||
20 | equipping of a new school building and additions to | ||||||
21 | existing school buildings are required as a result of a | ||||||
22 | projected increase in the enrollment of students in the | ||||||
23 | district and (B) the altering, repairing, and equipping of | ||||||
24 | existing school buildings are required because of the age | ||||||
25 | of the existing school buildings.
| ||||||
26 | (iii) The bonds are issued, in one or more bond |
| |||||||
| |||||||
1 | issuances, on or before December 31, 2012; however, the | ||||||
2 | aggregate principal amount issued in all such bond | ||||||
3 | issuances combined must not exceed $30,000,000.
| ||||||
4 | (iv) The bonds are issued in accordance with this | ||||||
5 | Article.
| ||||||
6 | (v) The proceeds of the bonds are used to accomplish | ||||||
7 | only those projects approved by the voters at an election | ||||||
8 | held in 2008.
| ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-30) shall not be considered indebtedness for purposes of any | ||||||
11 | statutory debt limitation.
| ||||||
12 | (p-35) In addition to all other authority to issue bonds, | ||||||
13 | Prairie Hill Community Consolidated School District 133 may | ||||||
14 | issue bonds with an aggregate principal amount not to exceed | ||||||
15 | $13,900,000, but only if all of the following conditions are | ||||||
16 | met:
| ||||||
17 | (i) The voters of the district approved a proposition | ||||||
18 | for the bond issuance at an election held on April 17, | ||||||
19 | 2007.
| ||||||
20 | (ii) At the time of the sale of the bonds, the school | ||||||
21 | board determines, by resolution, that (A) the improvement | ||||||
22 | of the site of and the building and equipping of a school | ||||||
23 | building are required as a result of a projected increase | ||||||
24 | in the enrollment of students in the district and (B) the | ||||||
25 | repairing and equipping of the Prairie Hill Elementary | ||||||
26 | School building is required because of the age of that |
| |||||||
| |||||||
1 | school building.
| ||||||
2 | (iii) The bonds are issued, in one or more bond | ||||||
3 | issuances, on or before December 31, 2011, but the | ||||||
4 | aggregate principal amount issued in all such bond | ||||||
5 | issuances combined must not exceed $13,900,000.
| ||||||
6 | (iv) The bonds are issued in accordance with this | ||||||
7 | Article.
| ||||||
8 | (v) The proceeds of the bonds are used to accomplish | ||||||
9 | only those projects approved by the voters at an election | ||||||
10 | held on April 17, 2007.
| ||||||
11 | The debt incurred on any bonds issued under this subsection | ||||||
12 | (p-35) shall not be considered indebtedness for purposes of any | ||||||
13 | statutory debt limitation.
| ||||||
14 | (p-40) In addition to all other authority to issue bonds, | ||||||
15 | Mascoutah Community Unit District 19 may issue bonds with an | ||||||
16 | aggregate principal amount not to exceed $55,000,000, but only | ||||||
17 | if all of the following conditions are met: | ||||||
18 | (1) The voters of the district approve a proposition | ||||||
19 | for the bond issuance at a regular election held on or | ||||||
20 | after November 4, 2008. | ||||||
21 | (2) At the time of the sale of the bonds, the school | ||||||
22 | board determines, by resolution, that (i) the building and | ||||||
23 | equipping of a new high school building is required as a | ||||||
24 | result of a projected increase in the enrollment of | ||||||
25 | students in the district and the age and condition of the | ||||||
26 | existing high school building, (ii) the existing high |
| |||||||
| |||||||
1 | school building will be demolished, and (iii) the sale of | ||||||
2 | bonds is authorized by statute that exempts the debt | ||||||
3 | incurred on the bonds from the district's statutory debt | ||||||
4 | limitation. | ||||||
5 | (3) The bonds are issued, in one or more bond | ||||||
6 | issuances, on or before December 31, 2011, but the | ||||||
7 | aggregate principal amount issued in all such bond | ||||||
8 | issuances combined must not exceed $55,000,000. | ||||||
9 | (4) The bonds are issued in accordance with this | ||||||
10 | Article. | ||||||
11 | (5) The proceeds of the bonds are used to accomplish | ||||||
12 | only those projects approved by the voters at a regular | ||||||
13 | election held on or after November 4, 2008. | ||||||
14 | The debt incurred on any bonds issued under this subsection | ||||||
15 | (p-40) shall not be considered indebtedness for purposes of any | ||||||
16 | statutory debt limitation. | ||||||
17 | (p-45) In addition to all other authority to issue bonds, | ||||||
18 | Belle Valley School District 119 may issue bonds with an | ||||||
19 | aggregate principal amount not to exceed $47,500,000, but only | ||||||
20 | if all of the following conditions are met: | ||||||
21 | (1) The voters of the district approve a proposition | ||||||
22 | for the bond issuance at an election held on or after April | ||||||
23 | 7, 2009. | ||||||
24 | (2) Prior to the issuance of the bonds, the school | ||||||
25 | board determines, by resolution, that (i) the building and | ||||||
26 | equipping of a new school building is required as a result |
| |||||||
| |||||||
1 | of mine subsidence in an existing school building and | ||||||
2 | because of the age and condition of another existing school | ||||||
3 | building and (ii) the issuance of bonds is authorized by | ||||||
4 | statute that exempts the debt incurred on the bonds from | ||||||
5 | the district's statutory debt limitation. | ||||||
6 | (3) The bonds are issued, in one or more bond | ||||||
7 | issuances, on or before March 31, 2014, but the aggregate | ||||||
8 | principal amount issued in all such bond issuances combined | ||||||
9 | must not exceed $47,500,000. | ||||||
10 | (4) The bonds are issued in accordance with this | ||||||
11 | Article. | ||||||
12 | (5) The proceeds of the bonds are used to accomplish | ||||||
13 | only those projects approved by the voters at an election | ||||||
14 | held on or after April 7, 2009. | ||||||
15 | The debt incurred on any bonds issued under this subsection | ||||||
16 | (p-45) shall not be considered indebtedness for purposes of any | ||||||
17 | statutory debt limitation. Bonds issued under this subsection | ||||||
18 | (p-45) must mature within not to exceed 30 years from their | ||||||
19 | date, notwithstanding any other law to the contrary. | ||||||
20 | (q) A school district must notify the State Board of | ||||||
21 | Education prior to issuing any form of long-term or short-term | ||||||
22 | debt that will result in outstanding debt that exceeds 75% of | ||||||
23 | the debt limit specified in this Section or any other provision | ||||||
24 | of law.
| ||||||
25 | (Source: P.A. 94-234, eff. 7-1-06; 94-721, eff. 1-6-06; 94-952, | ||||||
26 | eff. 6-27-06; 94-1019, eff. 7-10-06; 94-1078, eff. 1-9-07; |
| |||||||
| |||||||
1 | 95-331, eff. 8-21-07; 95-594, eff. 9-10-07; 95-792, eff. | ||||||
2 | 1-1-09.)
| ||||||
3 | Section 99. Effective date. This Act takes effect upon | ||||||
4 | becoming law.
|