Public Act 103-0978

SB3348 Enrolled LRB103 37891 RJT 68022 b

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 Section

19-1 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

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

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

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

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

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

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

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

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

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

(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

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

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

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

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

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

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

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.

(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.

(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

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.

(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

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

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

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:

(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

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.

(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

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

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

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,

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

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.

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.

(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

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

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:

(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,

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.

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

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

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

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,

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

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

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

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

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

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

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.

(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.

(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

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

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

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,

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

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.

(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

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,

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

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

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

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

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.

(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

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:

(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

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

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) In addition to all other authority to issue bonds,

Joliet Public Schools District 86 may issue bonds with an

aggregate principal amount not to exceed $99,500,000, 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 April

4, 2023.

(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 $99,500,000.

(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 April 4, 2023.

The debt incurred on any bonds issued under this

subsection (p-220), 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-220) 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-225) In addition to all other authority to issue bonds,

Union Ridge School District 86 may issue bonds with an

aggregate principal amount not to exceed $35,000,000, but only

if all the following conditions are met:

(1) The voters of the school district approve a

proposition for the bond issuance at an election held on

or after March 19, 2024.

(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 $35,000,000.

(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 19, 2024.

The debt incurred on any bonds issued under this

subsection (p-225) and on any bonds issued to refund or

continue to refund such bonds shall not be considered

indebtedness for purposes of any statutory debt limit

limitation. Bonds issued under this subsection (p-225) and any

bonds issue 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-230) In addition to all other authority to issue bonds,

Bethel School District 82 may issue bonds with an aggregate

principal amount not to exceed $3,975,000, but only if all the

following conditions are met:

(1) The voters of the school district approve a

proposition for the bond issuance at an election held on

or after March 19, 2024.

(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 $3,975,000.

(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 19, 2024.

The debt incurred on any bonds issued under this

subsection (p-230) and on any bonds issued to refund or

continue to refund such bonds shall not be considered

indebtedness for purposes of any statutory debt limit

limitation. Bonds issued under this subsection (p-230) and any

bonds issue 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.

(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. 102-316, eff. 8-6-21; 102-949, eff. 5-27-22;

103-449, eff. 1-1-24.)