Bill Status of SB1290 100th General Assembly
Short Description: SCH CD-DEBT LIMIT EXCEPTION
Sen. Sue Rezin
| 3/15/2017||Senate||Placed on Calendar Order of 2nd Reading March 16, 2017|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Waltham Community Consolidated School District 185 may incur indebtedness in an aggregate principal amount not to exceed $9,500,000 to build and equip a new school building and improve the site thereof if certain conditions are met, including (1) that the voters of the district approve an advisory question that recommends the building and equipping of a new school building at the general election held on November 8, 2016 and (2) that, prior to incurring the debt, the school board determines, by resolution, that the building and equipping of a new school building is required as a result of the age and condition of the district's existing buildings. Provides that the debt issued and any bonds issued to pay, refund, or continue to refund such debt must mature within not to exceed 25 years from their date, notwithstanding any other law to the contrary. Effective immediately.
|Date||Chamber|| Action|| 2/9/2017||Senate||Filed with Secretary by Sen. Sue Rezin|| 2/9/2017||Senate||First Reading|| 2/9/2017||Senate||Referred to Assignments|| 2/15/2017||Senate||Assigned to Education|| 3/15/2017||Senate||Do Pass Education; 009-003-000|| 3/15/2017||Senate||Placed on Calendar Order of 2nd Reading March 16, 2017|