Bill Amendment: IL SB1937 | 2019-2020 | 101st General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: SCHOOL DISTRICTS-ISSUE BONDS
Status: 2020-06-26 - Public Act . . . . . . . . . 101-0646 [SB1937 Detail]
Download: Illinois-2019-SB1937-House_Amendment_003.html
Bill Title: SCHOOL DISTRICTS-ISSUE BONDS
Status: 2020-06-26 - Public Act . . . . . . . . . 101-0646 [SB1937 Detail]
Download: Illinois-2019-SB1937-House_Amendment_003.html
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1 | AMENDMENT TO SENATE BILL 1937
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2 | AMENDMENT NO. ______. Amend Senate Bill 1937, AS AMENDED, | ||||||
3 | by replacing everything after the enacting clause with the | ||||||
4 | following:
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5 | "Section 5. The School Code is amended by changing Section | ||||||
6 | 19-1 as follows:
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7 | (105 ILCS 5/19-1)
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8 | Sec. 19-1. Debt limitations of school districts.
| ||||||
9 | (a) School districts shall not be subject to the provisions | ||||||
10 | limiting their
indebtedness prescribed in the Local Government | ||||||
11 | Debt Limitation Act.
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12 | No school districts maintaining grades K through 8 or 9 | ||||||
13 | through 12
shall become indebted in any manner or for any | ||||||
14 | purpose to an amount,
including existing indebtedness, in the | ||||||
15 | aggregate exceeding 6.9% on the
value of the taxable property | ||||||
16 | therein to be ascertained by the last assessment
for State and |
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| |||||||
1 | county taxes or, until January 1, 1983, if greater, the sum | ||||||
2 | that
is produced by multiplying the school district's 1978 | ||||||
3 | equalized assessed
valuation by the debt limitation percentage | ||||||
4 | in effect on January 1, 1979,
previous to the incurring of such | ||||||
5 | indebtedness.
| ||||||
6 | No school districts maintaining grades K through 12 shall | ||||||
7 | become
indebted in any manner or for any purpose to an amount, | ||||||
8 | including
existing indebtedness, in the aggregate exceeding | ||||||
9 | 13.8% on the value of
the taxable property therein to be | ||||||
10 | ascertained by the last assessment
for State and county taxes | ||||||
11 | or, until January 1, 1983, if greater, the sum that
is produced | ||||||
12 | by multiplying the school district's 1978 equalized assessed
| ||||||
13 | valuation by the debt limitation percentage in effect on | ||||||
14 | January 1, 1979,
previous to the incurring of such | ||||||
15 | indebtedness.
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16 | No partial elementary unit district, as defined in Article | ||||||
17 | 11E of this Code, shall become indebted in any manner or for | ||||||
18 | any purpose in an amount, including existing indebtedness, in | ||||||
19 | the aggregate exceeding 6.9% of the value of the taxable | ||||||
20 | property of the entire district, to be ascertained by the last | ||||||
21 | assessment for State and county taxes, plus an amount, | ||||||
22 | including existing indebtedness, in the aggregate exceeding | ||||||
23 | 6.9% of the value of the taxable property of that portion of | ||||||
24 | the district included in the elementary and high school | ||||||
25 | classification, to be ascertained by the last assessment for | ||||||
26 | State and county taxes. Moreover, no partial elementary unit |
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1 | district, as defined in Article 11E of this Code, shall become | ||||||
2 | indebted on account of bonds issued by the district for high | ||||||
3 | school purposes in the aggregate exceeding 6.9% of the value of | ||||||
4 | the taxable property of the entire district, to be ascertained | ||||||
5 | by the last assessment for State and county taxes, nor shall | ||||||
6 | the district become indebted on account of bonds issued by the | ||||||
7 | district for elementary purposes in the aggregate exceeding | ||||||
8 | 6.9% of the value of the taxable property for that portion of | ||||||
9 | the district included in the elementary and high school | ||||||
10 | classification, to be ascertained by the last assessment for | ||||||
11 | State and county taxes.
| ||||||
12 | Notwithstanding the provisions of any other law to the | ||||||
13 | contrary, in any
case in which the voters of a school district | ||||||
14 | have approved a proposition
for the issuance of bonds of such | ||||||
15 | school district at an election held prior
to January 1, 1979, | ||||||
16 | and all of the bonds approved at such election have
not been | ||||||
17 | issued, the debt limitation applicable to such school district
| ||||||
18 | during the calendar year 1979 shall be computed by multiplying | ||||||
19 | the value
of taxable property therein, including personal | ||||||
20 | property, as ascertained
by the last assessment for State and | ||||||
21 | county taxes, previous to the incurring
of such indebtedness, | ||||||
22 | by the percentage limitation applicable to such school
district | ||||||
23 | under the provisions of this subsection (a).
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24 | (a-5) After January 1, 2018, no school district may issue | ||||||
25 | bonds under Sections 19-2 through 19-7 of this Code and rely on | ||||||
26 | an exception to the debt limitations in this Section unless it |
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1 | has complied with the requirements of Section 21 of the Bond | ||||||
2 | Issue Notification Act and the bonds have been approved by | ||||||
3 | referendum. | ||||||
4 | (b) Notwithstanding the debt limitation prescribed in | ||||||
5 | subsection (a)
of this Section, additional indebtedness may be | ||||||
6 | incurred in an amount
not to exceed the estimated cost of | ||||||
7 | acquiring or improving school sites
or constructing and | ||||||
8 | equipping additional building facilities under the
following | ||||||
9 | conditions:
| ||||||
10 | (1) Whenever the enrollment of students for the next | ||||||
11 | school year is
estimated by the board of education to | ||||||
12 | increase over the actual present
enrollment by not less | ||||||
13 | than 35% or by not less than 200 students or the
actual | ||||||
14 | present enrollment of students has increased over the | ||||||
15 | previous
school year by not less than 35% or by not less | ||||||
16 | than 200 students and
the board of education determines | ||||||
17 | that additional school sites or
building facilities are | ||||||
18 | required as a result of such increase in
enrollment; and
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19 | (2) When the Regional Superintendent of Schools having | ||||||
20 | jurisdiction
over the school district and the State | ||||||
21 | Superintendent of Education
concur in such enrollment | ||||||
22 | projection or increase and approve the need
for such | ||||||
23 | additional school sites or building facilities and the
| ||||||
24 | estimated cost thereof; and
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25 | (3) When the voters in the school district approve a | ||||||
26 | proposition for
the issuance of bonds for the purpose of |
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1 | acquiring or improving such
needed school sites or | ||||||
2 | constructing and equipping such needed additional
building | ||||||
3 | facilities at an election called and held for that purpose.
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4 | Notice of such an election shall state that the amount of | ||||||
5 | indebtedness
proposed to be incurred would exceed the debt | ||||||
6 | limitation otherwise
applicable to the school district. | ||||||
7 | The ballot for such proposition
shall state what percentage | ||||||
8 | of the equalized assessed valuation will be
outstanding in | ||||||
9 | bonds if the proposed issuance of bonds is approved by
the | ||||||
10 | voters; or
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11 | (4) Notwithstanding the provisions of paragraphs (1) | ||||||
12 | through (3) of
this subsection (b), if the school board | ||||||
13 | determines that additional
facilities are needed to | ||||||
14 | provide a quality educational program and not
less than 2/3 | ||||||
15 | of those voting in an election called by the school board
| ||||||
16 | on the question approve the issuance of bonds for the | ||||||
17 | construction of
such facilities, the school district may | ||||||
18 | issue bonds for this
purpose; or
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19 | (5) Notwithstanding the provisions of paragraphs (1) | ||||||
20 | through (3) of this
subsection (b), if (i) the school | ||||||
21 | district has previously availed itself of the
provisions of | ||||||
22 | paragraph (4) of this subsection (b) to enable it to issue | ||||||
23 | bonds,
(ii) the voters of the school district have not | ||||||
24 | defeated a proposition for the
issuance of bonds since the | ||||||
25 | referendum described in paragraph (4) of this
subsection | ||||||
26 | (b) was held, (iii) the school board determines that |
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1 | additional
facilities are needed to provide a quality | ||||||
2 | educational program, and (iv) a
majority of those voting in | ||||||
3 | an election called by the school board on the
question | ||||||
4 | approve the issuance of bonds for the construction of such | ||||||
5 | facilities,
the school district may issue bonds for this | ||||||
6 | purpose.
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7 | In no event shall the indebtedness incurred pursuant to | ||||||
8 | this
subsection (b) and the existing indebtedness of the school | ||||||
9 | district
exceed 15% of the value of the taxable property | ||||||
10 | therein to be
ascertained by the last assessment for State and | ||||||
11 | county taxes, previous
to the incurring of such indebtedness | ||||||
12 | or, until January 1, 1983, if greater,
the sum that is produced | ||||||
13 | by multiplying the school district's 1978 equalized
assessed | ||||||
14 | valuation by the debt limitation percentage in effect on | ||||||
15 | January 1,
1979.
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16 | The indebtedness provided for by this subsection (b) shall | ||||||
17 | be in
addition to and in excess of any other debt limitation.
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18 | (c) Notwithstanding the debt limitation prescribed in | ||||||
19 | subsection (a)
of this Section, in any case in which a public | ||||||
20 | question for the issuance
of bonds of a proposed school | ||||||
21 | district maintaining grades kindergarten
through 12 received | ||||||
22 | at least 60% of the valid ballots cast on the question at
an | ||||||
23 | election held on or prior to November 8, 1994, and in which the | ||||||
24 | bonds
approved at such election have not been issued, the | ||||||
25 | school district pursuant to
the requirements of Section 11A-10 | ||||||
26 | (now repealed) may issue the total amount of bonds approved
at |
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1 | such election for the purpose stated in the question.
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2 | (d) Notwithstanding the debt limitation prescribed in | ||||||
3 | subsection (a)
of this Section, a school district that meets | ||||||
4 | all the criteria set forth in
paragraphs (1) and (2) of this | ||||||
5 | subsection (d) may incur an additional
indebtedness in an | ||||||
6 | amount not to exceed $4,500,000, even though the amount of
the | ||||||
7 | additional indebtedness authorized by this subsection (d), | ||||||
8 | when incurred
and added to the aggregate amount of indebtedness | ||||||
9 | of the district existing
immediately prior to the district | ||||||
10 | incurring the additional indebtedness
authorized by this | ||||||
11 | subsection (d), causes the aggregate indebtedness of the
| ||||||
12 | district to exceed the debt limitation otherwise applicable to | ||||||
13 | that district
under subsection (a):
| ||||||
14 | (1) The additional indebtedness authorized by this | ||||||
15 | subsection (d) is
incurred by the school district through | ||||||
16 | the issuance of bonds under and in
accordance with Section | ||||||
17 | 17-2.11a for the purpose of replacing a school
building | ||||||
18 | which, because of mine subsidence damage, has been closed | ||||||
19 | as provided
in paragraph (2) of this subsection (d) or | ||||||
20 | through the issuance of bonds under
and in accordance with | ||||||
21 | Section 19-3 for the purpose of increasing the size of,
or | ||||||
22 | providing for additional functions in, such replacement | ||||||
23 | school buildings, or
both such purposes.
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24 | (2) The bonds issued by the school district as provided | ||||||
25 | in paragraph (1)
above are issued for the purposes of | ||||||
26 | construction by the school district of
a new school |
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1 | building pursuant to Section 17-2.11, to replace an | ||||||
2 | existing
school building that, because of mine subsidence | ||||||
3 | damage, is closed as of the
end of the 1992-93 school year | ||||||
4 | pursuant to action of the regional
superintendent of | ||||||
5 | schools of the educational service region in which the
| ||||||
6 | district is located under Section 3-14.22 or are issued for | ||||||
7 | the purpose of
increasing the size of, or providing for | ||||||
8 | additional functions in, the new
school building being | ||||||
9 | constructed to replace a school building closed as the
| ||||||
10 | result of mine subsidence damage, or both such purposes.
| ||||||
11 | (e) (Blank).
| ||||||
12 | (f) Notwithstanding the provisions of subsection (a) of | ||||||
13 | this Section or of
any other law, bonds in not to exceed the | ||||||
14 | aggregate amount of $5,500,000 and
issued by a school district | ||||||
15 | meeting the following criteria shall not be
considered | ||||||
16 | indebtedness for purposes of any statutory limitation and may | ||||||
17 | be
issued in an amount or amounts, including existing | ||||||
18 | indebtedness, in excess of
any heretofore or hereafter imposed | ||||||
19 | statutory limitation as to indebtedness:
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20 | (1) At the time of the sale of such bonds, the board of | ||||||
21 | education of the
district shall have determined by | ||||||
22 | resolution that the enrollment of students in
the district | ||||||
23 | is projected to increase by not less than 7% during each of | ||||||
24 | the
next succeeding 2 school years.
| ||||||
25 | (2) The board of education shall also determine by | ||||||
26 | resolution that the
improvements to be financed with the |
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1 | proceeds of the bonds are needed because
of the projected | ||||||
2 | enrollment increases.
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3 | (3) The board of education shall also determine by | ||||||
4 | resolution that the
projected increases in enrollment are | ||||||
5 | the result of improvements made or
expected to be made to | ||||||
6 | passenger rail facilities located in the school
district.
| ||||||
7 | Notwithstanding the provisions of subsection (a) of this | ||||||
8 | Section or of any other law, a school district that has availed | ||||||
9 | itself of the provisions of this subsection (f) prior to July | ||||||
10 | 22, 2004 (the effective date of Public Act 93-799) may also | ||||||
11 | issue bonds approved by referendum up to an amount, including | ||||||
12 | existing indebtedness, not exceeding 25% of the equalized | ||||||
13 | assessed value of the taxable property in the district if all | ||||||
14 | of the conditions set forth in items (1), (2), and (3) of this | ||||||
15 | subsection (f) are met.
| ||||||
16 | (g) Notwithstanding the provisions of subsection (a) of | ||||||
17 | this Section or any
other law, bonds in not to exceed an | ||||||
18 | aggregate amount of 25% of the equalized
assessed value of the | ||||||
19 | taxable property of a school district and issued by a
school | ||||||
20 | district meeting the criteria in paragraphs (i) through (iv) of | ||||||
21 | this
subsection shall not be considered indebtedness for | ||||||
22 | purposes of any statutory
limitation and may be issued pursuant | ||||||
23 | to resolution of the school board in an
amount or amounts, | ||||||
24 | including existing indebtedness, in
excess of any statutory | ||||||
25 | limitation of indebtedness heretofore or hereafter
imposed:
| ||||||
26 | (i) The bonds are issued for the purpose of |
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1 | constructing a new high school
building to replace two | ||||||
2 | adjacent existing buildings which together house a
single | ||||||
3 | high school, each of which is more than 65 years old, and | ||||||
4 | which together
are located on more than 10 acres and less | ||||||
5 | than 11 acres of property.
| ||||||
6 | (ii) At the time the resolution authorizing the | ||||||
7 | issuance of the bonds is
adopted, the cost of constructing | ||||||
8 | a new school building to replace the existing
school | ||||||
9 | building is less than 60% of the cost of repairing the | ||||||
10 | existing school
building.
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11 | (iii) The sale of the bonds occurs before July 1, 1997.
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12 | (iv) The school district issuing the bonds is a unit | ||||||
13 | school district
located in a county of less than 70,000 and | ||||||
14 | more than 50,000 inhabitants,
which has an average daily | ||||||
15 | attendance of less than 1,500 and an equalized
assessed | ||||||
16 | valuation of less than $29,000,000.
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17 | (h) Notwithstanding any other provisions of this Section or | ||||||
18 | the
provisions of any other law, until January 1, 1998, a | ||||||
19 | community unit school
district maintaining grades K through 12 | ||||||
20 | may issue bonds up to an amount,
including existing | ||||||
21 | indebtedness, not exceeding 27.6% of the equalized assessed
| ||||||
22 | value of the taxable property in the district, if all of the | ||||||
23 | following
conditions are met:
| ||||||
24 | (i) The school district has an equalized assessed | ||||||
25 | valuation for calendar
year 1995 of less than $24,000,000;
| ||||||
26 | (ii) The bonds are issued for the capital improvement, |
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1 | renovation,
rehabilitation, or replacement of existing | ||||||
2 | school buildings of the district,
all of which buildings | ||||||
3 | were originally constructed not less than 40 years ago;
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4 | (iii) The voters of the district approve a proposition | ||||||
5 | for the issuance of
the bonds at a referendum held after | ||||||
6 | March 19, 1996; and
| ||||||
7 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
8 | through 19-7 of this
Code.
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9 | (i) Notwithstanding any other provisions of this Section or | ||||||
10 | the provisions
of any other law, until January 1, 1998, a | ||||||
11 | community unit school district
maintaining grades K through 12 | ||||||
12 | may issue bonds up to an amount, including
existing | ||||||
13 | indebtedness, not exceeding 27% of the equalized assessed value | ||||||
14 | of the
taxable property in the district, if all of the | ||||||
15 | following conditions are met:
| ||||||
16 | (i) The school district has an equalized assessed | ||||||
17 | valuation for calendar
year 1995 of less than $44,600,000;
| ||||||
18 | (ii) The bonds are issued for the capital improvement, | ||||||
19 | renovation,
rehabilitation, or replacement
of existing | ||||||
20 | school buildings of the district, all of which
existing | ||||||
21 | buildings were originally constructed not less than 80 | ||||||
22 | years ago;
| ||||||
23 | (iii) The voters of the district approve a proposition | ||||||
24 | for the issuance of
the bonds at a referendum held after | ||||||
25 | December 31, 1996; and
| ||||||
26 | (iv) The bonds are issued pursuant to Sections 19-2 |
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| |||||||
1 | through 19-7 of this
Code.
| ||||||
2 | (j) Notwithstanding any other provisions of this Section or | ||||||
3 | the
provisions of any other law, until January 1, 1999, a | ||||||
4 | community unit school
district maintaining grades K through 12 | ||||||
5 | may issue bonds up to an amount,
including existing | ||||||
6 | indebtedness, not exceeding 27% of the equalized assessed
value | ||||||
7 | of the taxable property in the district if all of the following
| ||||||
8 | conditions are met:
| ||||||
9 | (i) The school district has an equalized assessed | ||||||
10 | valuation for calendar
year 1995 of less than $140,000,000 | ||||||
11 | and a best 3 months
average daily
attendance for the | ||||||
12 | 1995-96 school year of at least 2,800;
| ||||||
13 | (ii) The bonds are issued to purchase a site and build | ||||||
14 | and equip a new
high school, and the school district's | ||||||
15 | existing high school was originally
constructed not less | ||||||
16 | than 35
years prior to the sale of the bonds;
| ||||||
17 | (iii) At the time of the sale of the bonds, the board | ||||||
18 | of education
determines
by resolution that a new high | ||||||
19 | school is needed because of projected enrollment
| ||||||
20 | increases;
| ||||||
21 | (iv) At least 60% of those voting in an election held
| ||||||
22 | after December 31, 1996 approve a proposition
for the | ||||||
23 | issuance of
the bonds; and
| ||||||
24 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
25 | through
19-7 of this Code.
| ||||||
26 | (k) Notwithstanding the debt limitation prescribed in |
| |||||||
| |||||||
1 | subsection (a) of
this Section, a school district that meets | ||||||
2 | all the criteria set forth in
paragraphs (1) through (4) of | ||||||
3 | this subsection (k) may issue bonds to incur an
additional | ||||||
4 | indebtedness in an amount not to exceed $4,000,000 even though | ||||||
5 | the
amount of the additional indebtedness authorized by this | ||||||
6 | subsection (k), when
incurred and added to the aggregate amount | ||||||
7 | of indebtedness of the school
district existing immediately | ||||||
8 | prior to the school district incurring such
additional | ||||||
9 | indebtedness, causes the aggregate indebtedness of the school
| ||||||
10 | district to exceed or increases the amount by which the | ||||||
11 | aggregate indebtedness
of the district already exceeds the debt | ||||||
12 | limitation otherwise applicable to
that school district under | ||||||
13 | subsection (a):
| ||||||
14 | (1) the school district is located in 2 counties, and a | ||||||
15 | referendum to
authorize the additional indebtedness was | ||||||
16 | approved by a majority of the voters
of the school district | ||||||
17 | voting on the proposition to authorize that
indebtedness;
| ||||||
18 | (2) the additional indebtedness is for the purpose of | ||||||
19 | financing a
multi-purpose room addition to the existing | ||||||
20 | high school;
| ||||||
21 | (3) the additional indebtedness, together with the | ||||||
22 | existing indebtedness
of the school district, shall not | ||||||
23 | exceed 17.4% of the value of the taxable
property in the | ||||||
24 | school district, to be ascertained by the last assessment | ||||||
25 | for
State and county taxes; and
| ||||||
26 | (4) the bonds evidencing the additional indebtedness |
| |||||||
| |||||||
1 | are issued, if at
all, within 120 days of August 14, 1998 | ||||||
2 | (the effective date of Public Act 90-757).
| ||||||
3 | (l) Notwithstanding any other provisions of this Section or | ||||||
4 | the
provisions of any other law, until January 1, 2000, a | ||||||
5 | school district
maintaining grades kindergarten through 8 may | ||||||
6 | issue bonds up to an amount,
including existing indebtedness, | ||||||
7 | not exceeding 15% of the equalized assessed
value of the | ||||||
8 | taxable property in the district if all of the following
| ||||||
9 | conditions are met:
| ||||||
10 | (i) the district has an equalized assessed valuation | ||||||
11 | for calendar year
1996 of less than $10,000,000;
| ||||||
12 | (ii) the bonds are issued for capital improvement, | ||||||
13 | renovation,
rehabilitation, or replacement of one or more | ||||||
14 | school buildings of the district,
which buildings were | ||||||
15 | originally constructed not less than 70 years ago;
| ||||||
16 | (iii) the voters of the district approve a proposition | ||||||
17 | for the issuance of
the bonds at a referendum held on or | ||||||
18 | after March 17, 1998; and
| ||||||
19 | (iv) the bonds are issued pursuant to Sections 19-2 | ||||||
20 | through 19-7 of this
Code.
| ||||||
21 | (m) Notwithstanding any other provisions of this Section or | ||||||
22 | the provisions
of
any other law, until January 1, 1999, an | ||||||
23 | elementary school district maintaining
grades K through 8 may | ||||||
24 | issue bonds up to an amount, excluding existing
indebtedness, | ||||||
25 | not exceeding 18% of the equalized assessed value of the | ||||||
26 | taxable
property in the district, if all of the following |
| |||||||
| |||||||
1 | conditions are met:
| ||||||
2 | (i) The school district has an equalized assessed | ||||||
3 | valuation for calendar
year 1995 or less than $7,700,000;
| ||||||
4 | (ii) The school district operates 2 elementary | ||||||
5 | attendance centers that
until
1976 were operated as the | ||||||
6 | attendance centers of 2 separate and distinct school
| ||||||
7 | districts;
| ||||||
8 | (iii) The bonds are issued for the construction of a | ||||||
9 | new elementary school
building to replace an existing | ||||||
10 | multi-level elementary school building of the
school | ||||||
11 | district that is not accessible at all levels and parts of
| ||||||
12 | which were constructed more than 75 years ago;
| ||||||
13 | (iv) The voters of the school district approve a | ||||||
14 | proposition for the
issuance of the bonds at a referendum | ||||||
15 | held after July 1, 1998; and
| ||||||
16 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
17 | through 19-7 of this
Code.
| ||||||
18 | (n) Notwithstanding the debt limitation prescribed in | ||||||
19 | subsection (a) of
this Section or any other provisions of this | ||||||
20 | Section or of any other law, a
school district that meets all | ||||||
21 | of the criteria set forth in paragraphs (i)
through (vi) of | ||||||
22 | this subsection (n) may incur additional indebtedness by the
| ||||||
23 | issuance of bonds in an amount not exceeding the amount | ||||||
24 | certified by the
Capital Development Board to the school | ||||||
25 | district as provided in paragraph (iii)
of
this subsection (n), | ||||||
26 | even though the amount of the additional indebtedness so
|
| |||||||
| |||||||
1 | authorized, when incurred and added to the aggregate amount of | ||||||
2 | indebtedness of
the district existing immediately prior to the | ||||||
3 | district incurring the
additional indebtedness authorized by | ||||||
4 | this subsection (n), causes the aggregate
indebtedness of the | ||||||
5 | district to exceed the debt limitation otherwise applicable
by | ||||||
6 | law to that district:
| ||||||
7 | (i) The school district applies to the State Board of | ||||||
8 | Education for a
school construction project grant and | ||||||
9 | submits a district facilities plan in
support
of its | ||||||
10 | application pursuant to Section 5-20 of
the School | ||||||
11 | Construction Law.
| ||||||
12 | (ii) The school district's application and facilities | ||||||
13 | plan are approved
by,
and the district receives a grant | ||||||
14 | entitlement for a school construction project
issued by, | ||||||
15 | the State Board of Education under the School Construction | ||||||
16 | Law.
| ||||||
17 | (iii) The school district has exhausted its bonding | ||||||
18 | capacity or the unused
bonding capacity of the district is | ||||||
19 | less than the amount certified by the
Capital Development | ||||||
20 | Board to the district under Section 5-15 of the School
| ||||||
21 | Construction Law as the dollar amount of the school | ||||||
22 | construction project's cost
that the district will be | ||||||
23 | required to finance with non-grant funds in order to
| ||||||
24 | receive a school construction project grant under the | ||||||
25 | School Construction Law.
| ||||||
26 | (iv) The bonds are issued for a "school construction |
| |||||||
| |||||||
1 | project", as that
term is defined in Section 5-5 of the | ||||||
2 | School Construction Law, in an amount
that does not exceed | ||||||
3 | the dollar amount certified, as provided in paragraph
(iii) | ||||||
4 | of this subsection (n), by the Capital Development Board
to | ||||||
5 | the school
district under Section 5-15 of the School | ||||||
6 | Construction Law.
| ||||||
7 | (v) The voters of the district approve a proposition | ||||||
8 | for the issuance of
the bonds at a referendum held after | ||||||
9 | the criteria specified in paragraphs (i)
and (iii) of this | ||||||
10 | subsection (n) are met.
| ||||||
11 | (vi) The bonds are issued pursuant to Sections 19-2 | ||||||
12 | through 19-7 of the
School Code.
| ||||||
13 | (o) Notwithstanding any other provisions of this Section or | ||||||
14 | the
provisions of any other law, until November 1, 2007, a | ||||||
15 | community unit
school district maintaining grades K through 12 | ||||||
16 | may issue bonds up to
an amount, including existing | ||||||
17 | indebtedness, not exceeding 20% of the
equalized assessed value | ||||||
18 | of the taxable property in the district if all of the
following | ||||||
19 | conditions are met:
| ||||||
20 | (i) the school district has an equalized assessed | ||||||
21 | valuation
for calendar year 2001 of at least $737,000,000 | ||||||
22 | and an enrollment
for the 2002-2003 school year of at least | ||||||
23 | 8,500;
| ||||||
24 | (ii) the bonds are issued to purchase school sites, | ||||||
25 | build and
equip a new high school, build and equip a new | ||||||
26 | junior high school,
build and equip 5 new elementary |
| |||||||
| |||||||
1 | schools, and make technology
and other improvements and | ||||||
2 | additions to existing schools;
| ||||||
3 | (iii) at the time of the sale of the bonds, the board | ||||||
4 | of
education determines by resolution that the sites and | ||||||
5 | new or
improved facilities are needed because of projected | ||||||
6 | enrollment
increases;
| ||||||
7 | (iv) at least 57% of those voting in a general election | ||||||
8 | held
prior to January 1, 2003 approved a proposition for | ||||||
9 | the issuance of
the bonds; and
| ||||||
10 | (v) the bonds are issued pursuant to Sections 19-2 | ||||||
11 | through
19-7 of this Code.
| ||||||
12 | (p) Notwithstanding any other provisions of this Section or | ||||||
13 | the provisions of any other law, a community unit school | ||||||
14 | district maintaining grades K through 12 may issue bonds up to | ||||||
15 | an amount, including indebtedness, not exceeding 27% of the | ||||||
16 | equalized assessed value of the taxable property in the | ||||||
17 | district if all of the following conditions are met: | ||||||
18 | (i) The school district has an equalized assessed | ||||||
19 | valuation for calendar year 2001 of at least $295,741,187 | ||||||
20 | and a best 3 months' average daily attendance for the | ||||||
21 | 2002-2003 school year of at least 2,394. | ||||||
22 | (ii) The bonds are issued to build and equip 3 | ||||||
23 | elementary school buildings; build and equip one middle | ||||||
24 | school building; and alter, repair, improve, and equip all | ||||||
25 | existing school buildings in the district. | ||||||
26 | (iii) At the time of the sale of the bonds, the board |
| |||||||
| |||||||
1 | of education determines by resolution that the project is | ||||||
2 | needed because of expanding growth in the school district | ||||||
3 | and a projected enrollment increase. | ||||||
4 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
5 | through 19-7 of this Code.
| ||||||
6 | (p-5) Notwithstanding any other provisions of this Section | ||||||
7 | or the provisions of any other law, bonds issued by a community | ||||||
8 | unit school district maintaining grades K through 12 shall not | ||||||
9 | be considered indebtedness for purposes of any statutory | ||||||
10 | limitation and may be issued in an amount or amounts, including | ||||||
11 | existing indebtedness, in excess of any heretofore or hereafter | ||||||
12 | imposed statutory limitation as to indebtedness, if all of the | ||||||
13 | following conditions are met: | ||||||
14 | (i) For each of the 4 most recent years, residential | ||||||
15 | property comprises more than 80% of the equalized assessed | ||||||
16 | valuation of the district. | ||||||
17 | (ii) At least 2 school buildings that were constructed | ||||||
18 | 40 or more years prior to the issuance of the bonds will be | ||||||
19 | demolished and will be replaced by new buildings or | ||||||
20 | additions to one or more existing buildings. | ||||||
21 | (iii) Voters of the district approve a proposition for | ||||||
22 | the issuance of the bonds at a regularly scheduled | ||||||
23 | election. | ||||||
24 | (iv) At the time of the sale of the bonds, the school | ||||||
25 | board determines by resolution that the new buildings or | ||||||
26 | building additions are needed because of an increase in |
| |||||||
| |||||||
1 | enrollment projected by the school board. | ||||||
2 | (v) The principal amount of the bonds, including | ||||||
3 | existing indebtedness, does not exceed 25% of the equalized | ||||||
4 | assessed value of the taxable property in the district. | ||||||
5 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
6 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
7 | (p-10) Notwithstanding any other provisions of this | ||||||
8 | Section or the provisions of any other law, bonds issued by a | ||||||
9 | community consolidated school district maintaining grades K | ||||||
10 | through 8 shall not be considered indebtedness for purposes of | ||||||
11 | any statutory limitation and may be issued in an amount or | ||||||
12 | amounts, including existing indebtedness, in excess of any | ||||||
13 | heretofore or hereafter imposed statutory limitation as to | ||||||
14 | indebtedness, if all of the following conditions are met: | ||||||
15 | (i) For each of the 4 most recent years, residential | ||||||
16 | and farm property comprises more than 80% of the equalized | ||||||
17 | assessed valuation of the district. | ||||||
18 | (ii) The bond proceeds are to be used to acquire and | ||||||
19 | improve school sites and build and equip a school building. | ||||||
20 | (iii) Voters of the district approve a proposition for | ||||||
21 | the issuance of the bonds at a regularly scheduled | ||||||
22 | election. | ||||||
23 | (iv) At the time of the sale of the bonds, the school | ||||||
24 | board determines by resolution that the school sites and | ||||||
25 | building additions are needed because of an increase in | ||||||
26 | enrollment projected by the school board. |
| |||||||
| |||||||
1 | (v) The principal amount of the bonds, including | ||||||
2 | existing indebtedness, does not exceed 20% of the equalized | ||||||
3 | assessed value of the taxable property in the district. | ||||||
4 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
5 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
6 | (p-15) In addition to all other authority to issue bonds, | ||||||
7 | the Oswego Community Unit School District Number 308 may issue | ||||||
8 | bonds with an aggregate principal amount not to exceed | ||||||
9 | $450,000,000, but only if all of the following conditions are | ||||||
10 | met: | ||||||
11 | (i) The voters of the district have approved a | ||||||
12 | proposition for the bond issue at the general election held | ||||||
13 | on November 7, 2006. | ||||||
14 | (ii) At the time of the sale of the bonds, the school | ||||||
15 | board determines, by resolution, that: (A) the building and | ||||||
16 | equipping of the new high school building, new junior high | ||||||
17 | school buildings, new elementary school buildings, early | ||||||
18 | childhood building, maintenance building, transportation | ||||||
19 | facility, and additions to existing school buildings, the | ||||||
20 | altering, repairing, equipping, and provision of | ||||||
21 | technology improvements to existing school buildings, and | ||||||
22 | the acquisition and improvement of school sites, as the | ||||||
23 | case may be, are required as a result of a projected | ||||||
24 | increase in the enrollment of students in the district; and | ||||||
25 | (B) the sale of bonds for these purposes is authorized by | ||||||
26 | legislation that exempts the debt incurred on the bonds |
| |||||||
| |||||||
1 | from the district's statutory debt limitation.
| ||||||
2 | (iii) The bonds are issued, in one or more bond issues, | ||||||
3 | on or before November 7, 2011, but the aggregate principal | ||||||
4 | amount issued in all such bond issues combined must not | ||||||
5 | exceed $450,000,000.
| ||||||
6 | (iv) The bonds are issued in accordance with this | ||||||
7 | Article 19. | ||||||
8 | (v) The proceeds of the bonds are used only to | ||||||
9 | accomplish those projects approved by the voters at the | ||||||
10 | general election held on November 7, 2006. | ||||||
11 | The debt incurred on any bonds issued under this subsection | ||||||
12 | (p-15) shall not be considered indebtedness for purposes of any | ||||||
13 | statutory debt limitation.
| ||||||
14 | (p-20) In addition to all other authority to issue bonds, | ||||||
15 | the Lincoln-Way Community High School District Number 210 may | ||||||
16 | issue bonds with an aggregate principal amount not to exceed | ||||||
17 | $225,000,000, but only if all of the following conditions are | ||||||
18 | met: | ||||||
19 | (i) The voters of the district have approved a | ||||||
20 | proposition for the bond issue at the general primary | ||||||
21 | election held on March 21, 2006. | ||||||
22 | (ii) At the time of the sale of the bonds, the school | ||||||
23 | board determines, by resolution, that: (A) the building and | ||||||
24 | equipping of the new high school buildings, the altering, | ||||||
25 | repairing, and equipping of existing school buildings, and | ||||||
26 | the improvement of school sites, as the case may be, are |
| |||||||
| |||||||
1 | required as a result of a projected increase in the | ||||||
2 | enrollment of students in the district; and (B) the sale of | ||||||
3 | bonds for these purposes is authorized by legislation that | ||||||
4 | exempts the debt incurred on the bonds from the district's | ||||||
5 | statutory debt limitation.
| ||||||
6 | (iii) The bonds are issued, in one or more bond issues, | ||||||
7 | on or before March 21, 2011, but the aggregate principal | ||||||
8 | amount issued in all such bond issues combined must not | ||||||
9 | exceed $225,000,000.
| ||||||
10 | (iv) The bonds are issued in accordance with this | ||||||
11 | Article 19. | ||||||
12 | (v) The proceeds of the bonds are used only to | ||||||
13 | accomplish those projects approved by the voters at the | ||||||
14 | primary election held on March 21, 2006. | ||||||
15 | The debt incurred on any bonds issued under this subsection | ||||||
16 | (p-20) shall not be considered indebtedness for purposes of any | ||||||
17 | statutory debt limitation.
| ||||||
18 | (p-25) In addition to all other authority to issue bonds, | ||||||
19 | Rochester Community Unit School District 3A may issue bonds | ||||||
20 | with an aggregate principal amount not to exceed $18,500,000, | ||||||
21 | but only if all of the following conditions are met: | ||||||
22 | (i) The voters of the district approve a proposition | ||||||
23 | for the bond issuance at the general primary election held | ||||||
24 | in 2008.
| ||||||
25 | (ii) At the time of the sale of the bonds, the school | ||||||
26 | board determines, by resolution, that: (A) the building and |
| |||||||
| |||||||
1 | equipping of a new high school building; the addition of | ||||||
2 | classrooms and support facilities at the high school, | ||||||
3 | middle school, and elementary school; the altering, | ||||||
4 | repairing, and equipping of existing school buildings; and | ||||||
5 | the improvement of school sites, as the case may be, are | ||||||
6 | required as a result of a projected increase in the | ||||||
7 | enrollment of students in the district; and (B) the sale of | ||||||
8 | bonds for these purposes is authorized by a law that | ||||||
9 | exempts the debt incurred on the bonds from the district's | ||||||
10 | statutory debt limitation. | ||||||
11 | (iii) The bonds are issued, in one or more bond issues, | ||||||
12 | on or before December 31, 2012, but the aggregate principal | ||||||
13 | amount issued in all such bond issues combined must not | ||||||
14 | exceed $18,500,000. | ||||||
15 | (iv) The bonds are issued in accordance with this | ||||||
16 | Article 19. | ||||||
17 | (v) The proceeds of the bonds are used to accomplish | ||||||
18 | only those projects approved by the voters at the primary | ||||||
19 | election held in 2008.
| ||||||
20 | The debt incurred on any bonds issued under this subsection | ||||||
21 | (p-25) shall not be considered indebtedness for purposes of any | ||||||
22 | statutory debt limitation.
| ||||||
23 | (p-30) In addition to all other authority to issue bonds, | ||||||
24 | Prairie Grove Consolidated School District 46 may issue bonds | ||||||
25 | with an aggregate principal amount not to exceed $30,000,000, | ||||||
26 | but only if all of the following conditions are met:
|
| |||||||
| |||||||
1 | (i) The voters of the district approve a proposition | ||||||
2 | for the bond issuance at an election held in 2008.
| ||||||
3 | (ii) At the time of the sale of the bonds, the school | ||||||
4 | board determines, by resolution, that (A) the building and | ||||||
5 | equipping of a new school building and additions to | ||||||
6 | existing school buildings are required as a result of a | ||||||
7 | projected increase in the enrollment of students in the | ||||||
8 | district and (B) the altering, repairing, and equipping of | ||||||
9 | existing school buildings are required because of the age | ||||||
10 | of the existing school buildings.
| ||||||
11 | (iii) The bonds are issued, in one or more bond | ||||||
12 | issuances, on or before December 31, 2012; however, the | ||||||
13 | aggregate principal amount issued in all such bond | ||||||
14 | issuances combined must not exceed $30,000,000.
| ||||||
15 | (iv) The bonds are issued in accordance with this | ||||||
16 | Article.
| ||||||
17 | (v) The proceeds of the bonds are used to accomplish | ||||||
18 | only those projects approved by the voters at an election | ||||||
19 | held in 2008.
| ||||||
20 | The debt incurred on any bonds issued under this subsection | ||||||
21 | (p-30) shall not be considered indebtedness for purposes of any | ||||||
22 | statutory debt limitation.
| ||||||
23 | (p-35) In addition to all other authority to issue bonds, | ||||||
24 | Prairie Hill Community Consolidated School District 133 may | ||||||
25 | issue bonds with an aggregate principal amount not to exceed | ||||||
26 | $13,900,000, but only if all of the following conditions are |
| |||||||
| |||||||
1 | met:
| ||||||
2 | (i) The voters of the district approved a proposition | ||||||
3 | for the bond issuance at an election held on April 17, | ||||||
4 | 2007.
| ||||||
5 | (ii) At the time of the sale of the bonds, the school | ||||||
6 | board determines, by resolution, that (A) the improvement | ||||||
7 | of the site of and the building and equipping of a school | ||||||
8 | building are required as a result of a projected increase | ||||||
9 | in the enrollment of students in the district and (B) the | ||||||
10 | repairing and equipping of the Prairie Hill Elementary | ||||||
11 | School building is required because of the age of that | ||||||
12 | school building.
| ||||||
13 | (iii) The bonds are issued, in one or more bond | ||||||
14 | issuances, on or before December 31, 2011, but the | ||||||
15 | aggregate principal amount issued in all such bond | ||||||
16 | issuances combined must not exceed $13,900,000.
| ||||||
17 | (iv) The bonds are issued in accordance with this | ||||||
18 | Article.
| ||||||
19 | (v) The proceeds of the bonds are used to accomplish | ||||||
20 | only those projects approved by the voters at an election | ||||||
21 | held on April 17, 2007.
| ||||||
22 | The debt incurred on any bonds issued under this subsection | ||||||
23 | (p-35) shall not be considered indebtedness for purposes of any | ||||||
24 | statutory debt limitation.
| ||||||
25 | (p-40) In addition to all other authority to issue bonds, | ||||||
26 | Mascoutah Community Unit District 19 may issue bonds with an |
| |||||||
| |||||||
1 | aggregate principal amount not to exceed $55,000,000, but only | ||||||
2 | if all of the following conditions are met: | ||||||
3 | (1) The voters of the district approve a proposition | ||||||
4 | for the bond issuance at a regular election held on or | ||||||
5 | after November 4, 2008. | ||||||
6 | (2) At the time of the sale of the bonds, the school | ||||||
7 | board determines, by resolution, that (i) the building and | ||||||
8 | equipping of a new high school building is required as a | ||||||
9 | result of a projected increase in the enrollment of | ||||||
10 | students in the district and the age and condition of the | ||||||
11 | existing high school building, (ii) the existing high | ||||||
12 | school building will be demolished, and (iii) the sale of | ||||||
13 | bonds is authorized by statute that exempts the debt | ||||||
14 | incurred on the bonds from the district's statutory debt | ||||||
15 | limitation. | ||||||
16 | (3) The bonds are issued, in one or more bond | ||||||
17 | issuances, on or before December 31, 2011, but the | ||||||
18 | aggregate principal amount issued in all such bond | ||||||
19 | issuances combined must not exceed $55,000,000. | ||||||
20 | (4) The bonds are issued in accordance with this | ||||||
21 | Article. | ||||||
22 | (5) The proceeds of the bonds are used to accomplish | ||||||
23 | only those projects approved by the voters at a regular | ||||||
24 | election held on or after November 4, 2008. | ||||||
25 | The debt incurred on any bonds issued under this subsection | ||||||
26 | (p-40) shall not be considered indebtedness for purposes of any |
| |||||||
| |||||||
1 | statutory debt limitation. | ||||||
2 | (p-45) Notwithstanding the provisions of subsection (a) of | ||||||
3 | this Section or of any other law, bonds issued pursuant to | ||||||
4 | Section 19-3.5 of this Code shall not be considered | ||||||
5 | indebtedness for purposes of any statutory limitation if the | ||||||
6 | bonds are issued in an amount or amounts, including existing | ||||||
7 | indebtedness of the school district, not in excess of 18.5% of | ||||||
8 | the value of the taxable property in the district to be | ||||||
9 | ascertained by the last assessment for State and county taxes. | ||||||
10 | (p-50) Notwithstanding the provisions of subsection (a) of
| ||||||
11 | this Section or of any other law, bonds issued pursuant to
| ||||||
12 | Section 19-3.10 of this Code shall not be considered
| ||||||
13 | indebtedness for purposes of any statutory limitation if the
| ||||||
14 | bonds are issued in an amount or amounts, including existing
| ||||||
15 | indebtedness of the school district, not in excess of 43% of
| ||||||
16 | the value of the taxable property in the district to be
| ||||||
17 | ascertained by the last assessment for State and county taxes. | ||||||
18 | (p-55) In addition to all other authority to issue bonds, | ||||||
19 | Belle Valley School District 119 may issue bonds with an | ||||||
20 | aggregate principal amount not to exceed $47,500,000, but only | ||||||
21 | if all of the following conditions are met: | ||||||
22 | (1) The voters of the district approve a proposition | ||||||
23 | for the bond issuance at an election held on or after April | ||||||
24 | 7, 2009. | ||||||
25 | (2) Prior to the issuance of the bonds, the school | ||||||
26 | board determines, by resolution, that (i) the building and |
| |||||||
| |||||||
1 | equipping of a new school building is required as a result | ||||||
2 | of mine subsidence in an existing school building and | ||||||
3 | because of the age and condition of another existing school | ||||||
4 | building and (ii) the issuance of bonds is authorized by | ||||||
5 | statute that exempts the debt incurred on the bonds from | ||||||
6 | the district's statutory debt limitation. | ||||||
7 | (3) The bonds are issued, in one or more bond | ||||||
8 | issuances, on or before March 31, 2014, but the aggregate | ||||||
9 | principal amount issued in all such bond issuances combined | ||||||
10 | must not exceed $47,500,000. | ||||||
11 | (4) The bonds are issued in accordance with this | ||||||
12 | Article. | ||||||
13 | (5) The proceeds of the bonds are used to accomplish | ||||||
14 | only those projects approved by the voters at an election | ||||||
15 | held on or after April 7, 2009. | ||||||
16 | The debt incurred on any bonds issued under this subsection | ||||||
17 | (p-55) shall not be considered indebtedness for purposes of any | ||||||
18 | statutory debt limitation. Bonds issued under this subsection | ||||||
19 | (p-55) must mature within not to exceed 30 years from their | ||||||
20 | date, notwithstanding any other law to the contrary. | ||||||
21 | (p-60) In addition to all other authority to issue bonds, | ||||||
22 | Wilmington Community Unit School District Number 209-U may | ||||||
23 | issue bonds with an aggregate principal amount not to exceed | ||||||
24 | $2,285,000, but only if all of the following conditions are | ||||||
25 | met: | ||||||
26 | (1) The proceeds of the bonds are used to accomplish |
| |||||||
| |||||||
1 | only those projects approved by the voters at the general | ||||||
2 | primary election held on March 21, 2006. | ||||||
3 | (2) Prior to the issuance of the bonds, the school | ||||||
4 | board determines, by resolution, that (i) the projects | ||||||
5 | approved by the voters were and are required because of the | ||||||
6 | age and condition of the school district's prior and | ||||||
7 | existing school buildings and (ii) the issuance of the | ||||||
8 | bonds is authorized by legislation that exempts the debt | ||||||
9 | incurred on the bonds from the district's statutory debt | ||||||
10 | limitation. | ||||||
11 | (3) The bonds are issued in one or more bond issuances | ||||||
12 | on or before March 1, 2011, but the aggregate principal | ||||||
13 | amount issued in all those bond issuances combined must not | ||||||
14 | exceed $2,285,000. | ||||||
15 | (4) The bonds are issued in accordance with this | ||||||
16 | Article. | ||||||
17 | The debt incurred on any bonds issued under this subsection | ||||||
18 | (p-60) shall not be considered indebtedness for purposes of any | ||||||
19 | statutory debt limitation. | ||||||
20 | (p-65) In addition to all other authority to issue bonds, | ||||||
21 | West Washington County Community Unit School District 10 may | ||||||
22 | issue bonds with an aggregate principal amount not to exceed | ||||||
23 | $32,200,000 and maturing over a period not exceeding 25 years, | ||||||
24 | but only if all of the following conditions are met: | ||||||
25 | (1) The voters of the district approve a proposition | ||||||
26 | for the bond issuance at an election held on or after |
| |||||||
| |||||||
1 | February 2, 2010. | ||||||
2 | (2) Prior to the issuance of the bonds, the school | ||||||
3 | board determines, by resolution, that (A) all or a portion | ||||||
4 | of the existing Okawville Junior/Senior High School | ||||||
5 | Building will be demolished; (B) the building and equipping | ||||||
6 | of a new school building to be attached to and the | ||||||
7 | alteration, repair, and equipping of the remaining portion | ||||||
8 | of the Okawville Junior/Senior High School Building is | ||||||
9 | required because of the age and current condition of that | ||||||
10 | school building; and (C) the issuance of bonds is | ||||||
11 | authorized by a statute that exempts the debt incurred on | ||||||
12 | the bonds from the district's statutory debt limitation. | ||||||
13 | (3) The bonds are issued, in one or more bond | ||||||
14 | issuances, on or before March 31, 2014, but the aggregate | ||||||
15 | principal amount issued in all such bond issuances combined | ||||||
16 | must not exceed $32,200,000. | ||||||
17 | (4) The bonds are issued in accordance with this | ||||||
18 | Article. | ||||||
19 | (5) The proceeds of the bonds are used to accomplish | ||||||
20 | only those projects approved by the voters at an election | ||||||
21 | held on or after February 2, 2010. | ||||||
22 | The debt incurred on any bonds issued under this subsection | ||||||
23 | (p-65) shall not be considered indebtedness for purposes of any | ||||||
24 | statutory debt limitation. | ||||||
25 | (p-70) In addition to all other authority to issue bonds, | ||||||
26 | Cahokia Community Unit School District 187 may issue bonds with |
| |||||||
| |||||||
1 | an aggregate principal amount not to exceed $50,000,000, but | ||||||
2 | only if all the following conditions are met: | ||||||
3 | (1) The voters of the district approve a proposition | ||||||
4 | for the bond issuance at an election held on or after | ||||||
5 | November 2, 2010. | ||||||
6 | (2) Prior to the issuance of the bonds, the school | ||||||
7 | board determines, by resolution, that (i) the building and | ||||||
8 | equipping of a new school building is required as a result | ||||||
9 | of the age and condition of an existing school building and | ||||||
10 | (ii) the issuance of bonds is authorized by a statute that | ||||||
11 | exempts the debt incurred on the bonds from the district's | ||||||
12 | statutory debt limitation. | ||||||
13 | (3) The bonds are issued, in one or more issuances, on | ||||||
14 | or before July 1, 2016, but the aggregate principal amount | ||||||
15 | issued in all such bond issuances combined must not exceed | ||||||
16 | $50,000,000. | ||||||
17 | (4) The bonds are issued in accordance with this | ||||||
18 | Article. | ||||||
19 | (5) The proceeds of the bonds are used to accomplish | ||||||
20 | only those projects approved by the voters at an election | ||||||
21 | held on or after November 2, 2010. | ||||||
22 | The debt incurred on any bonds issued under this subsection | ||||||
23 | (p-70) shall not be considered indebtedness for purposes of any | ||||||
24 | statutory debt limitation. Bonds issued under this subsection | ||||||
25 | (p-70) must mature within not to exceed 25 years from their | ||||||
26 | date, notwithstanding any other law, including Section 19-3 of |
| |||||||
| |||||||
1 | this Code, to the contrary. | ||||||
2 | (p-75) Notwithstanding the debt limitation prescribed in | ||||||
3 | subsection (a) of this Section
or any other provisions of this | ||||||
4 | Section or of any other law, the execution of leases on or
| ||||||
5 | after January 1, 2007 and before July 1, 2011 by the Board of | ||||||
6 | Education of Peoria School District 150 with a public building | ||||||
7 | commission for leases entered into pursuant to the Public
| ||||||
8 | Building Commission Act shall not be considered indebtedness | ||||||
9 | for purposes of any
statutory debt limitation. | ||||||
10 | This subsection (p-75) applies only if the State Board of | ||||||
11 | Education or the Capital Development Board makes one or more | ||||||
12 | grants to Peoria School District 150 pursuant to the School | ||||||
13 | Construction Law. The amount exempted from the debt limitation | ||||||
14 | as prescribed in this subsection (p-75) shall be no greater | ||||||
15 | than the amount of one or more grants awarded to Peoria School | ||||||
16 | District 150 by the State Board of Education or the Capital | ||||||
17 | Development Board. | ||||||
18 | (p-80) In addition to all other authority to issue bonds, | ||||||
19 | Ridgeland School District 122 may issue bonds with an aggregate | ||||||
20 | principal amount not to exceed $50,000,000 for the purpose of | ||||||
21 | refunding or continuing to refund bonds originally issued | ||||||
22 | pursuant to voter approval at the general election held on | ||||||
23 | November 7, 2000, and the debt incurred on any bonds issued | ||||||
24 | under this subsection (p-80) shall not be considered | ||||||
25 | indebtedness for purposes of any statutory debt limitation. | ||||||
26 | Bonds issued under this subsection (p-80) may be issued in one |
| |||||||
| |||||||
1 | or more issuances and must mature within not to exceed 25 years | ||||||
2 | from their date, notwithstanding any other law, including | ||||||
3 | Section 19-3 of this Code, to the contrary. | ||||||
4 | (p-85) In addition to all other authority to issue bonds, | ||||||
5 | Hall High School District 502 may issue bonds with an aggregate | ||||||
6 | principal amount not to exceed $32,000,000, but only if all the | ||||||
7 | following conditions are met: | ||||||
8 | (1) The voters of the district approve a proposition
| ||||||
9 | for the bond issuance at an election held on or after April | ||||||
10 | 9, 2013. | ||||||
11 | (2) Prior to the issuance of the bonds, the school
| ||||||
12 | board determines, by resolution, that (i) the building and | ||||||
13 | equipping of a new school building is required as a result | ||||||
14 | of the age and condition of an existing school building, | ||||||
15 | (ii) the existing school building should be demolished in | ||||||
16 | its entirety or the existing school building should be | ||||||
17 | demolished except for the 1914 west wing of the building, | ||||||
18 | and (iii) the issuance of bonds is authorized by a statute | ||||||
19 | that exempts the debt incurred on the bonds from the | ||||||
20 | district's statutory debt limitation. | ||||||
21 | (3) The bonds are issued, in one or more issuances, not | ||||||
22 | later than 5 years after the date of the referendum | ||||||
23 | approving the issuance of the bonds, but the aggregate | ||||||
24 | principal amount issued in all such bond issuances combined | ||||||
25 | must not exceed $32,000,000. | ||||||
26 | (4) The bonds are issued in accordance with this
|
| |||||||
| |||||||
1 | Article. | ||||||
2 | (5) The proceeds of the bonds are used to accomplish
| ||||||
3 | only those projects approved by the voters at an election | ||||||
4 | held on or after April 9, 2013. | ||||||
5 | The debt incurred on any bonds issued under this subsection | ||||||
6 | (p-85) shall not be considered indebtedness for purposes of any | ||||||
7 | statutory debt limitation. Bonds issued under this subsection | ||||||
8 | (p-85) must mature within not to exceed 30 years from their | ||||||
9 | date, notwithstanding any other law, including Section 19-3 of | ||||||
10 | this Code, to the contrary. | ||||||
11 | (p-90) In addition to all other authority to issue bonds, | ||||||
12 | Lebanon Community Unit School District 9 may issue bonds with | ||||||
13 | an aggregate principal amount not to exceed $7,500,000, but | ||||||
14 | only if all of the following conditions are met: | ||||||
15 | (1) The voters of the district approved a proposition | ||||||
16 | for the bond issuance at the general primary election on | ||||||
17 | February 2, 2010. | ||||||
18 | (2) At or prior to the time of the sale of the bonds, | ||||||
19 | the school board determines, by resolution, that (i) the | ||||||
20 | building and equipping of a new elementary school building | ||||||
21 | is required as a result of a projected increase in the | ||||||
22 | enrollment of students in the district and the age and | ||||||
23 | condition of the existing Lebanon Elementary School | ||||||
24 | building, (ii) a portion of the existing Lebanon Elementary | ||||||
25 | School building will be demolished and the remaining | ||||||
26 | portion will be altered, repaired, and equipped, and (iii) |
| |||||||
| |||||||
1 | the sale of bonds is authorized by a statute that exempts | ||||||
2 | the debt incurred on the bonds from the district's | ||||||
3 | statutory debt limitation. | ||||||
4 | (3) The bonds are issued, in one or more bond | ||||||
5 | issuances, on or before April 1, 2014, but the aggregate | ||||||
6 | principal amount issued in all such bond issuances combined | ||||||
7 | must not exceed $7,500,000. | ||||||
8 | (4) The bonds are issued in accordance with this | ||||||
9 | Article. | ||||||
10 | (5) The proceeds of the bonds are used to accomplish | ||||||
11 | only those projects approved by the voters at the general | ||||||
12 | primary election held on February 2, 2010. | ||||||
13 | The debt incurred on any bonds issued under this subsection | ||||||
14 | (p-90) shall not be considered indebtedness for purposes of any | ||||||
15 | statutory debt limitation. | ||||||
16 | (p-95) In addition to all other authority to issue bonds, | ||||||
17 | Monticello Community Unit School District 25 may issue bonds | ||||||
18 | with an aggregate principal amount not to exceed $35,000,000, | ||||||
19 | but only if all of the following conditions are met: | ||||||
20 | (1) The voters of the district approve a proposition | ||||||
21 | for the bond issuance at an election held on or after | ||||||
22 | November 4, 2014. | ||||||
23 | (2) Prior to the issuance of the bonds, the school | ||||||
24 | board determines, by resolution, that (i) the building and | ||||||
25 | equipping of a new school building is required as a result | ||||||
26 | of the age and condition of an existing school building and |
| |||||||
| |||||||
1 | (ii) the issuance of bonds is authorized by a statute that | ||||||
2 | exempts the debt incurred on the bonds from the district's | ||||||
3 | statutory debt limitation. | ||||||
4 | (3) The bonds are issued, in one or more issuances, on | ||||||
5 | or before July 1, 2020, but the aggregate principal amount | ||||||
6 | issued in all such bond issuances combined must not exceed | ||||||
7 | $35,000,000. | ||||||
8 | (4) The bonds are issued in accordance with this | ||||||
9 | Article. | ||||||
10 | (5) The proceeds of the bonds are used to accomplish | ||||||
11 | only those projects approved by the voters at an election | ||||||
12 | held on or after November 4, 2014. | ||||||
13 | The debt incurred on any bonds issued under this subsection | ||||||
14 | (p-95) shall not be considered indebtedness for purposes of any | ||||||
15 | statutory debt limitation. Bonds issued under this subsection | ||||||
16 | (p-95) must mature within not to exceed 25 years from their | ||||||
17 | date, notwithstanding any other law, including Section 19-3 of | ||||||
18 | this Code, to the contrary. | ||||||
19 | (p-100) In addition to all other authority to issue bonds, | ||||||
20 | the community unit school district created in the territory | ||||||
21 | comprising Milford Community Consolidated School District 280 | ||||||
22 | and Milford Township High School District 233, as approved at | ||||||
23 | the general primary election held on March 18, 2014, may issue | ||||||
24 | bonds with an aggregate principal amount not to exceed | ||||||
25 | $17,500,000, but only if all the following conditions are met: | ||||||
26 | (1) The voters of the district approve a proposition |
| |||||||
| |||||||
1 | for the bond issuance at an election held on or after | ||||||
2 | November 4, 2014. | ||||||
3 | (2) Prior to the issuance of the bonds, the school | ||||||
4 | board determines, by resolution, that (i) the building and | ||||||
5 | equipping of a new school building is required as a result | ||||||
6 | of the age and condition of an existing school building and | ||||||
7 | (ii) the issuance of bonds is authorized by a statute that | ||||||
8 | exempts the debt incurred on the bonds from the district's | ||||||
9 | statutory debt limitation. | ||||||
10 | (3) The bonds are issued, in one or more issuances, on | ||||||
11 | or before July 1, 2020, but the aggregate principal amount | ||||||
12 | issued in all such bond issuances combined must not exceed | ||||||
13 | $17,500,000. | ||||||
14 | (4) The bonds are issued in accordance with this | ||||||
15 | Article. | ||||||
16 | (5) The proceeds of the bonds are used to accomplish | ||||||
17 | only those projects approved by the voters at an election | ||||||
18 | held on or after November 4, 2014. | ||||||
19 | The debt incurred on any bonds issued under this subsection | ||||||
20 | (p-100) shall not be considered indebtedness for purposes of | ||||||
21 | any statutory debt limitation. Bonds issued under this | ||||||
22 | subsection (p-100) must mature within not to exceed 25 years | ||||||
23 | from their date, notwithstanding any other law, including | ||||||
24 | Section 19-3 of this Code, to the contrary. | ||||||
25 | (p-105) In addition to all other authority to issue bonds, | ||||||
26 | North Shore School District 112 may issue bonds with an |
| |||||||
| |||||||
1 | aggregate principal amount not to exceed $150,000,000, but only | ||||||
2 | if all of the following conditions are met: | ||||||
3 | (1) The voters of the district approve a proposition | ||||||
4 | for the bond issuance at an election held on or after March | ||||||
5 | 15, 2016. | ||||||
6 | (2) Prior to the issuance of the bonds, the school | ||||||
7 | board determines, by resolution, that (i) the building and | ||||||
8 | equipping of new buildings and improving the sites thereof | ||||||
9 | and the building and equipping of additions to, altering, | ||||||
10 | repairing, equipping, and renovating existing buildings | ||||||
11 | and improving the sites thereof are required as a result of | ||||||
12 | the age and condition of the district's existing buildings | ||||||
13 | and (ii) the issuance of bonds is authorized by a statute | ||||||
14 | that exempts the debt incurred on the bonds from the | ||||||
15 | district's statutory debt limitation. | ||||||
16 | (3) The bonds are issued, in one or more issuances, not | ||||||
17 | later than 5 years after the date of the referendum | ||||||
18 | approving the issuance of the bonds, but the aggregate | ||||||
19 | principal amount issued in all such bond issuances combined | ||||||
20 | must not exceed $150,000,000. | ||||||
21 | (4) The bonds are issued in accordance with this | ||||||
22 | Article. | ||||||
23 | (5) The proceeds of the bonds are used to accomplish | ||||||
24 | only those projects approved by the voters at an election | ||||||
25 | held on or after March 15, 2016. | ||||||
26 | The debt incurred on any bonds issued under this subsection |
| |||||||
| |||||||
1 | (p-105) and on any bonds issued to refund or continue to refund | ||||||
2 | such bonds shall not be considered indebtedness for purposes of | ||||||
3 | any statutory debt limitation. Bonds issued under this | ||||||
4 | subsection (p-105) and any bonds issued to refund or continue | ||||||
5 | to refund such bonds must mature within not to exceed 30 years | ||||||
6 | from their date, notwithstanding any other law, including | ||||||
7 | Section 19-3 of this Code, to the contrary. | ||||||
8 | (p-110) In addition to all other authority to issue bonds, | ||||||
9 | Sandoval Community Unit School District 501 may issue bonds | ||||||
10 | with an aggregate principal amount not to exceed $2,000,000, | ||||||
11 | but only if all of the following conditions are met: | ||||||
12 | (1) The voters of the district approved a proposition | ||||||
13 | for the bond issuance at an election held on March 20, | ||||||
14 | 2012. | ||||||
15 | (2) Prior to the issuance of the bonds, the school | ||||||
16 | board determines, by resolution, that (i) the building and | ||||||
17 | equipping of a new school building is required because of | ||||||
18 | the age and current condition of the Sandoval Elementary | ||||||
19 | School building and (ii) the issuance of bonds is | ||||||
20 | authorized by a statute that exempts the debt incurred on | ||||||
21 | the bonds from the district's statutory debt limitation. | ||||||
22 | (3) The bonds are issued, in one or more bond | ||||||
23 | issuances, on or before March 19, 2022, but the aggregate | ||||||
24 | principal amount issued in all such bond issuances combined | ||||||
25 | must not exceed $2,000,000. | ||||||
26 | (4) The bonds are issued in accordance with this |
| |||||||
| |||||||
1 | Article. | ||||||
2 | (5) The proceeds of the bonds are used to accomplish | ||||||
3 | only those projects approved by the voters at the election | ||||||
4 | held on March 20, 2012. | ||||||
5 | The debt incurred on any bonds issued under this subsection | ||||||
6 | (p-110) and on any bonds issued to refund or continue to refund | ||||||
7 | the bonds shall not be considered indebtedness for purposes of | ||||||
8 | any statutory debt limitation. | ||||||
9 | (p-115) In addition to all other authority to issue bonds, | ||||||
10 | Bureau Valley Community Unit School District 340 may issue | ||||||
11 | bonds with an aggregate principal amount not to exceed | ||||||
12 | $25,000,000, but only if all of the following conditions are | ||||||
13 | met: | ||||||
14 | (1) The voters of the district approve a proposition | ||||||
15 | for the bond issuance at an election held on or after March | ||||||
16 | 15, 2016. | ||||||
17 | (2) Prior to the issuances of the bonds, the school | ||||||
18 | board determines, by resolution, that (i) the renovating | ||||||
19 | and equipping of some existing school buildings, the | ||||||
20 | building and equipping of new school buildings, and the | ||||||
21 | demolishing of some existing school buildings are required | ||||||
22 | as a result of the age and condition of existing school | ||||||
23 | buildings and (ii) the issuance of bonds is authorized by a | ||||||
24 | statute that exempts the debt incurred on the bonds from | ||||||
25 | the district's statutory debt limitation. | ||||||
26 | (3) The bonds are issued, in one or more issuances, on |
| |||||||
| |||||||
1 | or before July 1, 2021, but the aggregate principal amount | ||||||
2 | issued in all such bond issuances combined must not exceed | ||||||
3 | $25,000,000. | ||||||
4 | (4) The bonds are issued in accordance with this | ||||||
5 | Article. | ||||||
6 | (5) The proceeds of the bonds are used to accomplish | ||||||
7 | only those projects approved by the voters at an election | ||||||
8 | held on or after March 15, 2016. | ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-115) shall not be considered indebtedness for purposes of | ||||||
11 | any statutory debt limitation. Bonds issued under this | ||||||
12 | subsection (p-115) must mature within not to exceed 30 years | ||||||
13 | from their date, notwithstanding any other law, including | ||||||
14 | Section 19-3 of this Code, to the contrary. | ||||||
15 | (p-120) In addition to all other authority to issue bonds, | ||||||
16 | Paxton-Buckley-Loda Community Unit School District 10 may | ||||||
17 | issue bonds with an aggregate principal amount not to exceed
| ||||||
18 | $28,500,000, but only if all the following conditions are met: | ||||||
19 | (1) The voters of the district approve a proposition | ||||||
20 | for the bond issuance at an election held on or after | ||||||
21 | November 8, 2016. | ||||||
22 | (2) Prior to the issuance of the bonds, the school | ||||||
23 | board determines, by resolution, that (i) the projects as | ||||||
24 | described in said proposition, relating to the building and | ||||||
25 | equipping of one or more school buildings or additions to | ||||||
26 | existing school buildings, are required as a result of the |
| |||||||
| |||||||
1 | age and condition of the District's existing buildings and | ||||||
2 | (ii) the issuance of bonds is authorized by a statute that | ||||||
3 | exempts the debt incurred on the bonds from the district's | ||||||
4 | statutory debt limitation. | ||||||
5 | (3) The bonds are issued, in one or more issuances, not | ||||||
6 | later than 5 years after the date of the referendum | ||||||
7 | approving the issuance of the bonds, but the aggregate | ||||||
8 | principal amount issued in all such bond issuances combined | ||||||
9 | must not exceed $28,500,000. | ||||||
10 | (4) The bonds are issued in accordance with this | ||||||
11 | Article. | ||||||
12 | (5) The proceeds of the bonds are used to accomplish | ||||||
13 | only those projects approved by the voters at an election | ||||||
14 | held on or after November 8, 2016. | ||||||
15 | The debt incurred on any bonds issued under this subsection | ||||||
16 | (p-120) and on any bonds
issued to refund or continue to refund | ||||||
17 | such bonds shall not be considered indebtedness for
purposes of | ||||||
18 | any statutory debt limitation. Bonds issued under this | ||||||
19 | subsection (p-120) and any
bonds issued to refund or continue | ||||||
20 | to refund such bonds must mature within not to exceed 25
years | ||||||
21 | from their date, notwithstanding any other law, including | ||||||
22 | Section 19-3 of this Code, to the
contrary. | ||||||
23 | (p-125) In addition to all other authority to issue bonds, | ||||||
24 | Hillsboro Community Unit School District 3 may issue bonds with | ||||||
25 | an aggregate principal amount not to exceed
$34,500,000, but | ||||||
26 | only if all the following conditions are met: |
| |||||||
| |||||||
1 | (1) The voters of the district approve a proposition | ||||||
2 | for the bond issuance at an election held on or after March | ||||||
3 | 15, 2016. | ||||||
4 | (2) Prior to the issuance of the bonds, the school | ||||||
5 | board determines, by resolution, that (i) altering, | ||||||
6 | repairing, and equipping the high school | ||||||
7 | agricultural/vocational building, demolishing the high | ||||||
8 | school main, cafeteria, and gym buildings, building and | ||||||
9 | equipping a school building, and improving sites are | ||||||
10 | required as a result of the age and condition of the | ||||||
11 | district's existing buildings and (ii) the issuance of | ||||||
12 | bonds is authorized by a statute that exempts the debt | ||||||
13 | incurred on the bonds from the district's statutory debt | ||||||
14 | limitation. | ||||||
15 | (3) The bonds are issued, in one or more issuances, not | ||||||
16 | later than 5 years after the date of the referendum | ||||||
17 | approving the issuance of the bonds, but the aggregate | ||||||
18 | principal amount issued in all such bond issuances combined | ||||||
19 | must not exceed $34,500,000. | ||||||
20 | (4) The bonds are issued in accordance with this | ||||||
21 | Article. | ||||||
22 | (5) The proceeds of the bonds are used to accomplish | ||||||
23 | only those projects approved by the voters at an election | ||||||
24 | held on or after March 15, 2016. | ||||||
25 | The debt incurred on any bonds issued under this subsection | ||||||
26 | (p-125) and on any bonds
issued to refund or continue to refund |
| |||||||
| |||||||
1 | such bonds shall not be considered indebtedness for
purposes of | ||||||
2 | any statutory debt limitation. Bonds issued under this | ||||||
3 | subsection (p-125) and any
bonds issued to refund or continue | ||||||
4 | to refund such bonds must mature within not to exceed 25
years | ||||||
5 | from their date, notwithstanding any other law, including | ||||||
6 | Section 19-3 of this Code, to the
contrary. | ||||||
7 | (p-130) In addition to all other authority to issue bonds, | ||||||
8 | Waltham Community Consolidated School District 185 may incur | ||||||
9 | indebtedness in an aggregate principal amount not to exceed | ||||||
10 | $9,500,000 to build and equip a new school building and improve | ||||||
11 | the site thereof, but only if all the following conditions are | ||||||
12 | met: | ||||||
13 | (1) A majority of the voters of the district voting on | ||||||
14 | an advisory question voted in favor of the question | ||||||
15 | regarding the use of funding sources to build a new school | ||||||
16 | building without increasing property tax rates at the | ||||||
17 | general election held on November 8, 2016. | ||||||
18 | (2) Prior to incurring the debt, the school board | ||||||
19 | enters into intergovernmental agreements with the City of | ||||||
20 | LaSalle to pledge moneys in a special tax allocation fund | ||||||
21 | associated with tax increment financing districts LaSalle | ||||||
22 | I and LaSalle III and with the Village of Utica to pledge | ||||||
23 | moneys in a special tax allocation fund associated with tax | ||||||
24 | increment financing district Utica I for the purposes of | ||||||
25 | repaying the debt issued pursuant to this subsection | ||||||
26 | (p-130). Notwithstanding any other provision of law to the |
| |||||||
| |||||||
1 | contrary, the intergovernmental agreement may extend these | ||||||
2 | tax increment financing districts as necessary to ensure | ||||||
3 | repayment of the debt. | ||||||
4 | (3) Prior to incurring the debt, the school board | ||||||
5 | determines, by resolution, that (i) the building and | ||||||
6 | equipping of a new school building is required as a result | ||||||
7 | of the age and condition of the district's existing | ||||||
8 | buildings and (ii) the debt is authorized by a statute that | ||||||
9 | exempts the debt from the district's statutory debt | ||||||
10 | limitation. | ||||||
11 | (4) The debt is incurred, in one or more issuances, not | ||||||
12 | later than January 1, 2021, and the aggregate principal | ||||||
13 | amount of debt issued in all such issuances combined must | ||||||
14 | not exceed $9,500,000. | ||||||
15 | The debt incurred under this subsection (p-130) and on any | ||||||
16 | bonds issued to pay, refund, or continue to refund such debt | ||||||
17 | shall not be considered indebtedness for purposes of any | ||||||
18 | statutory debt limitation. Debt issued under this subsection | ||||||
19 | (p-130) and any bonds issued to pay, refund, or continue to | ||||||
20 | refund such debt must mature within not to exceed 25 years from | ||||||
21 | their date, notwithstanding any other law, including Section | ||||||
22 | 19-11 of this Code and subsection (b) of Section 17 of the | ||||||
23 | Local Government Debt Reform Act, to the contrary. | ||||||
24 | (p-133) Notwithstanding the provisions of subsection (a) | ||||||
25 | of this Section or of any other law, bonds heretofore or | ||||||
26 | hereafter issued by East Prairie School District 73 with an |
| |||||||
| |||||||
1 | aggregate principal amount not to exceed $47,353,147 and | ||||||
2 | approved by the voters of the district at the general election | ||||||
3 | held on November 8, 2016, and any bonds issued to refund or | ||||||
4 | continue to refund the bonds, shall not be considered | ||||||
5 | indebtedness for the purposes of any statutory debt limitation | ||||||
6 | and may mature within not to exceed 25 years from their date, | ||||||
7 | notwithstanding any other law, including Section 19-3 of this | ||||||
8 | Code, to the contrary. | ||||||
9 | (p-135) In addition to all other authority to issue bonds, | ||||||
10 | Brookfield LaGrange Park School District Number 95 may issue | ||||||
11 | bonds with an aggregate principal amount not to exceed | ||||||
12 | $20,000,000, but only if all the following conditions are met: | ||||||
13 | (1) The voters of the district approve a proposition | ||||||
14 | for the bond issuance at an election held on or after April | ||||||
15 | 4, 2017. | ||||||
16 | (2) Prior to the issuance of the bonds, the school | ||||||
17 | board determines, by resolution, that (i) the additions and | ||||||
18 | renovations to the Brook Park Elementary and S. E. Gross | ||||||
19 | Middle School buildings are required to accommodate | ||||||
20 | enrollment growth, replace outdated facilities, and create | ||||||
21 | spaces consistent with 21st century learning and (ii) the | ||||||
22 | issuance of the bonds is authorized by a statute that | ||||||
23 | exempts the debt incurred on the bonds from the district's | ||||||
24 | statutory debt limitation. | ||||||
25 | (3) The bonds are issued, in one or more issuances, not | ||||||
26 | later than 5 years after the date of the referendum |
| |||||||
| |||||||
1 | approving the issuance of the bonds, but the aggregate | ||||||
2 | principal amount issued in all such bond issuances combined | ||||||
3 | must not exceed $20,000,000. | ||||||
4 | (4) The bonds are issued in accordance with this | ||||||
5 | Article. | ||||||
6 | (5) The proceeds of the bonds are used to accomplish | ||||||
7 | only those projects approved by the voters at an election | ||||||
8 | held on or after April 4, 2017. | ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-135) and on any bonds issued to refund or continue to refund | ||||||
11 | such bonds shall not be considered indebtedness for purposes of | ||||||
12 | any statutory debt limitation. | ||||||
13 | (p-140) The debt incurred on any bonds issued by Wolf | ||||||
14 | Branch School District 113 under Section 17-2.11 of this Code | ||||||
15 | for the purpose of repairing or replacing all or a portion of a | ||||||
16 | school building that has been damaged by mine subsidence in an | ||||||
17 | aggregate principal amount not to exceed $17,500,000 and on any | ||||||
18 | bonds issued to refund or continue to refund those bonds shall | ||||||
19 | not be considered indebtedness for purposes of any statutory | ||||||
20 | debt limitation and must mature no later than 25 years from the | ||||||
21 | date of issuance, notwithstanding any other provision of law to | ||||||
22 | the contrary, including Section 19-3 of this Code. The maximum | ||||||
23 | allowable amount of debt exempt from statutory debt limitations | ||||||
24 | under this subsection (p-140) shall be reduced by an amount | ||||||
25 | equal to any grants awarded by the State Board of Education or | ||||||
26 | Capital Development Board for the explicit purpose of repairing |
| |||||||
| |||||||
1 | or reconstructing a school building damaged by mine subsidence. | ||||||
2 | (p-145) In addition to all other authority to issue bonds, | ||||||
3 | Greenview Community Unit School District 200 may issue bonds | ||||||
4 | with an aggregate principal amount not to exceed $3,500,000, | ||||||
5 | but only if of all the following conditions are met: | ||||||
6 | (1) The voters of the district approve a proposition | ||||||
7 | for the bond issuance at an election held on March 17, | ||||||
8 | 2020. | ||||||
9 | (2) Prior to the issuance of the bonds, the school | ||||||
10 | board determines, by resolution, that the bonding is | ||||||
11 | necessary for construction and expansion of the district's | ||||||
12 | kindergarten through grade 12 facility. | ||||||
13 | (3) The bonds are issued, in one or more issuances, not
| ||||||
14 | later than 5 years after the date of the referendum
| ||||||
15 | approving the issuance of the bonds, but the aggregate
| ||||||
16 | principal amount issued in all such bond issuances combined
| ||||||
17 | must not exceed
$3,500,000. | ||||||
18 | (4) The bonds are issued in accordance with this | ||||||
19 | Article. | ||||||
20 | (5) The proceeds of the bonds are used to accomplish | ||||||
21 | only the projects approved by the voters at an election | ||||||
22 | held on March 17, 2020. | ||||||
23 | The debt incurred on any bonds issued under this subsection | ||||||
24 | (p-145) and on any bonds issued to refund or continue to refund | ||||||
25 | such bonds shall not be considered indebtedness for purposes of | ||||||
26 | any statutory debt limitation. Bonds issued under this |
| |||||||
| |||||||
1 | subsection (p-145) and any bonds issued to refund or continue | ||||||
2 | to refund such bonds must mature within not to exceed 25 years | ||||||
3 | from their date, notwithstanding any other law, including | ||||||
4 | Section 19-3 of this Code, to the contrary. | ||||||
5 | (p-150) In addition to all other authority to issue bonds, | ||||||
6 | Komarek School District 94 may issue bonds with an aggregate | ||||||
7 | principal amount not to exceed $20,800,000, but only if all of | ||||||
8 | the following conditions are met: | ||||||
9 | (1) The voters of the district approve a proposition | ||||||
10 | for the bond issuance at an election held on or after March | ||||||
11 | 17, 2020. | ||||||
12 | (2) Prior to the issuance of the bonds, the school | ||||||
13 | board determines, by resolution, that (i) building and | ||||||
14 | equipping additions to, altering, repairing, equipping, or | ||||||
15 | demolishing a portion of, or improving the site of the | ||||||
16 | district's existing school building is required as a result | ||||||
17 | of the age and condition of the existing building and (ii) | ||||||
18 | the issuance of the bonds is authorized by a statute that | ||||||
19 | exempts the debt incurred on the bonds from the district's | ||||||
20 | statutory debt limitation. | ||||||
21 | (3) The bonds are issued, in one or more issuances, no | ||||||
22 | later than 5 years after the date of the referendum | ||||||
23 | approving the issuance of the bonds, but the aggregate | ||||||
24 | principal amount issued in all of the bond issuances | ||||||
25 | combined may not exceed $20,800,000. | ||||||
26 | (4) The bonds are issued in accordance with this |
| |||||||
| |||||||
1 | Article. | ||||||
2 | (5) The proceeds of the bonds are used to accomplish | ||||||
3 | only those projects approved by the voters at an election | ||||||
4 | held on or after March 17, 2020. | ||||||
5 | The debt incurred on any bonds issued under this subsection | ||||||
6 | (p-150) and on any bonds issued to refund or continue to refund | ||||||
7 | those bonds may not be considered indebtedness for purposes of | ||||||
8 | any statutory debt limitation. Notwithstanding any other law to | ||||||
9 | the contrary, including Section 19-3, bonds issued under this | ||||||
10 | subsection (p-150) and any bonds issued to refund or continue | ||||||
11 | to refund those bonds must mature within 30 years from their | ||||||
12 | date of issuance. | ||||||
13 | (p-155) In addition to all other authority to issue bonds, | ||||||
14 | Williamsville Community Unit School District 15 may issue bonds | ||||||
15 | with an aggregate principal amount not to exceed $40,000,000, | ||||||
16 | but only if all of the following conditions are met: | ||||||
17 | (1) The voters of the school district approve a | ||||||
18 | proposition for the bond issuance at an election held on | ||||||
19 | March 17, 2020. | ||||||
20 | (2) Prior to the issuance of the bonds, the school | ||||||
21 | board determines, by resolution, that the projects set | ||||||
22 | forth in the proposition for the bond issuance were and are | ||||||
23 | required because of the age and condition of the school | ||||||
24 | district's existing school buildings. | ||||||
25 | (3) The bonds are issued, in one or more issuances, not
| ||||||
26 | later than 5 years after the date of the referendum
|
| |||||||
| |||||||
1 | approving the issuance of the bonds, but the aggregate
| ||||||
2 | principal amount issued in all such bond issuances combined
| ||||||
3 | must not exceed
$40,000,000. | ||||||
4 | (4) The bonds are issued in accordance with this | ||||||
5 | Article. | ||||||
6 | (5) The proceeds of the bonds are used to accomplish | ||||||
7 | only the projects approved by the voters at an election | ||||||
8 | held on March 17, 2020. | ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-155) and on any bonds issued to refund or continue to refund | ||||||
11 | such bonds shall not be considered indebtedness for purposes of | ||||||
12 | any statutory debt limitation. Bonds issued under this | ||||||
13 | subsection (p-155) and any bonds issued to refund or continue | ||||||
14 | to refund such bonds must mature within not to exceed 25 years | ||||||
15 | from their date, notwithstanding any other law, including | ||||||
16 | Section 19-3 of this Code, to the contrary. | ||||||
17 | (p-160) In addition to all other authority to issue bonds, | ||||||
18 | Berkeley School District 87 may issue bonds with an aggregate | ||||||
19 | principal amount not to exceed $105,000,000, but only if all of | ||||||
20 | the following conditions are met: | ||||||
21 | (1) The voters of the district approve a proposition | ||||||
22 | for the bond issuance at the general primary election held | ||||||
23 | on March 17, 2020. | ||||||
24 | (2) Prior to the issuance of the bonds, the school | ||||||
25 | board determines, by resolution, that (i) building and | ||||||
26 | equipping a school building to replace the Sunnyside |
| |||||||
| |||||||
1 | Intermediate and MacArthur Middle School buildings; | ||||||
2 | building and equipping additions to and altering, | ||||||
3 | repairing, and equipping the Riley Intermediate and | ||||||
4 | Northlake Middle School buildings; altering, repairing, | ||||||
5 | and equipping the Whittier Primary and Jefferson Primary | ||||||
6 | School buildings; improving sites; renovating | ||||||
7 | instructional spaces; providing STEM (science, technology, | ||||||
8 | engineering, and mathematics) labs; and constructing life | ||||||
9 | safety, security, and infrastructure improvements are | ||||||
10 | required to replace outdated facilities and to provide safe | ||||||
11 | spaces consistent with 21st century learning and (ii) the | ||||||
12 | issuance of bonds is authorized by a statute that exempts | ||||||
13 | the debt incurred on the bonds from the district's | ||||||
14 | statutory debt limitation. | ||||||
15 | (3) The bonds are issued, in one or more issuances, not | ||||||
16 | later than 5 years after the date of the referendum | ||||||
17 | approving the issuance of the bonds, but the aggregate | ||||||
18 | principal amount issued in all such bond issuances combined | ||||||
19 | must not exceed $105,000,000. | ||||||
20 | (4) The bonds are issued in accordance with this | ||||||
21 | Article. | ||||||
22 | (5) The proceeds of the bonds are used to accomplish | ||||||
23 | only those projects approved by the voters at the general | ||||||
24 | primary election held on March 17, 2020. | ||||||
25 | The debt incurred on any bonds issued under this subsection | ||||||
26 | (p-160) and on any bonds issued to refund or continue to refund |
| |||||||
| |||||||
1 | such bonds shall not be considered indebtedness for purposes of | ||||||
2 | any statutory debt limitation. | ||||||
3 | (p-165) In addition to all other authority to issue bonds, | ||||||
4 | Elmwood Park
Community Unit School District 401 may issue bonds | ||||||
5 | with an aggregate principal amount
not to exceed $55,000,000, | ||||||
6 | but only if all of the following conditions are met: | ||||||
7 | (1) The voters of the district approve a proposition | ||||||
8 | for the bond issuance at an election held
on or after March | ||||||
9 | 17, 2020. | ||||||
10 | (2) Prior to the issuance of the bonds, the school | ||||||
11 | board determines, by resolution, that (i) the
building and | ||||||
12 | equipping of an addition to the John Mills Elementary | ||||||
13 | School building; the
renovating, altering, repairing, and | ||||||
14 | equipping of the John Mills and Elmwood Elementary School
| ||||||
15 | buildings; the installation of safety and security | ||||||
16 | improvements; and the improvement of school
sites are | ||||||
17 | required as a result of the age and condition of the | ||||||
18 | district's existing school buildings and
(ii) the issuance | ||||||
19 | of bonds is authorized by a statute that exempts the debt | ||||||
20 | incurred on the bonds
from the district's statutory debt | ||||||
21 | limitation. | ||||||
22 | (3) The bonds are issued, in one or more issuances, not | ||||||
23 | later than 5 years after the date of
the referendum | ||||||
24 | approving the issuance of the bonds, but the aggregate | ||||||
25 | principal amount issued in
all such bond issuances combined | ||||||
26 | must not exceed $55,000,000. |
| |||||||
| |||||||
1 | (4) The bonds are issued in accordance with this | ||||||
2 | Article. | ||||||
3 | (5) The proceeds of the bonds are used to accomplish | ||||||
4 | only the projects approved by the
voters at an election | ||||||
5 | held on or after March 17, 2020. | ||||||
6 | The debt incurred on any bonds issued under this subsection | ||||||
7 | (p-165) and on any bonds issued to refund or continue to refund | ||||||
8 | such bonds shall not be considered indebtedness for purposes of | ||||||
9 | any statutory debt limitation. Bonds issued under this | ||||||
10 | subsection (p-165) and any bonds issued to refund or continue | ||||||
11 | to refund such bonds must mature within not to exceed 25 years | ||||||
12 | from their date, notwithstanding any other law, including | ||||||
13 | Section 19-3 of this Code, to the contrary. | ||||||
14 | (p-170) In addition to all other authority to issue bonds, | ||||||
15 | Maroa-Forsyth Community Unit School District 2 may issue bonds | ||||||
16 | with an aggregate principal amount not to exceed $33,000,000, | ||||||
17 | but only if all of the following conditions are met: | ||||||
18 | (1) The voters of the school district approve a | ||||||
19 | proposition for the bond issuance at an election held on | ||||||
20 | March 17, 2020. | ||||||
21 | (2) Prior to the issuance of the bonds, the school | ||||||
22 | board determines, by resolution, that the projects set | ||||||
23 | forth in the proposition for the bond issuance were and are | ||||||
24 | required because of the age and condition of the school | ||||||
25 | district's existing school buildings. | ||||||
26 | (3) The bonds are issued, in one or more issuances, not
|
| |||||||
| |||||||
1 | later than 5 years after the date of the referendum
| ||||||
2 | approving the issuance of the bonds, but the aggregate
| ||||||
3 | principal amount issued in all such bond issuances combined
| ||||||
4 | must not exceed
$33,000,000. | ||||||
5 | (4) The bonds are issued in accordance with this | ||||||
6 | Article. | ||||||
7 | (5) The proceeds of the bonds are used to accomplish | ||||||
8 | only the projects approved by the voters at an election | ||||||
9 | held on March 17, 2020. | ||||||
10 | The debt incurred on any bonds issued under this subsection | ||||||
11 | (p-170) and on any bonds issued to refund or continue to refund | ||||||
12 | such bonds shall not be considered indebtedness for purposes of | ||||||
13 | any statutory debt limitation. Bonds issued under this | ||||||
14 | subsection (p-170) and any bonds issued to refund or continue | ||||||
15 | to refund such bonds must mature within not to exceed 25 years | ||||||
16 | from their date, notwithstanding any other law, including | ||||||
17 | Section 19-3 of this Code, to the contrary. | ||||||
18 | (p-175) In addition to all other authority to issue bonds, | ||||||
19 | Schiller Park School District 81 may issue bonds with an | ||||||
20 | aggregate principal amount not to exceed $30,000,000, but only | ||||||
21 | if all of the following conditions are met: | ||||||
22 | (1) The voters of the district approve a proposition | ||||||
23 | for the bond issuance at an election held on or after March | ||||||
24 | 17, 2020. | ||||||
25 | (2) Prior to the issuance of the bonds, the school | ||||||
26 | board determines, by resolution, that (i) building and |
| |||||||
| |||||||
1 | equipping a school building to replace the Washington | ||||||
2 | Elementary School building, installing fire suppression | ||||||
3 | systems, security systems, and federal Americans with | ||||||
4 | Disability Act of 1990 compliance measures, acquiring | ||||||
5 | land, and improving the site are required to accommodate | ||||||
6 | enrollment growth, replace an outdated facility, and | ||||||
7 | create spaces consistent with 21st century learning and | ||||||
8 | (ii) the issuance of bonds is authorized by a statute that | ||||||
9 | exempts the debt incurred on the bonds from the district's | ||||||
10 | statutory debt limitation. | ||||||
11 | (3) The bonds are issued, in one or more issuances, not | ||||||
12 | later than 5 years after the date of the referendum | ||||||
13 | approving the issuance of the bonds, but the aggregate | ||||||
14 | principal amount issued in all such bond issuances combined | ||||||
15 | must not exceed $30,000,000. | ||||||
16 | (4) The bonds are issued in accordance with this | ||||||
17 | Article. | ||||||
18 | (5) The proceeds of the bonds are used to accomplish | ||||||
19 | only the projects approved by the voters at an election | ||||||
20 | held on or after March 17, 2020. | ||||||
21 | The debt incurred on any bonds issued under this subsection | ||||||
22 | (p-175) and on any bonds issued to refund or continue to refund | ||||||
23 | such bonds shall not be considered indebtedness for purposes of | ||||||
24 | any statutory debt limitation. Bonds issued under this | ||||||
25 | subsection (p-175) and any bonds issued to refund or continue | ||||||
26 | to refund such bonds must mature within not to exceed 27 years |
| |||||||
| |||||||
1 | from their date, notwithstanding any other law, including | ||||||
2 | Section 19-3 of this Code, to the contrary. | ||||||
3 | (q) A school district must notify the State Board of | ||||||
4 | Education prior to issuing any form of long-term or short-term | ||||||
5 | debt that will result in outstanding debt that exceeds 75% of | ||||||
6 | the debt limit specified in this Section or any other provision | ||||||
7 | of law.
| ||||||
8 | (Source: P.A. 99-78, eff. 7-20-15; 99-143, eff. 7-27-15; | ||||||
9 | 99-390, eff. 8-18-15; 99-642, eff. 7-28-16; 99-735, eff. | ||||||
10 | 8-5-16; 99-926, eff. 1-20-17, 100-503, eff. 6-1-18; 100-531, | ||||||
11 | eff. 9-22-17; 100-650, eff. 7-31-18; 100-863, eff. 8-14-18.)
| ||||||
12 | Section 99. Effective date. This Act takes effect upon | ||||||
13 | becoming law.".
|