Illinois General Assembly - Full Text of SB0262
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Full Text of SB0262  96th General Assembly

SB0262ham002 96TH GENERAL ASSEMBLY

Rep. Eddie Lee Jackson Sr.

Filed: 5/31/2009

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 262

2     AMENDMENT NO. ______. Amend Senate Bill 262, AS AMENDED, by
3 replacing everything after the enacting clause with the
4 following:
 
5     "Section 5. The School Code is amended by changing Section
6 19-1 as follows:
 
7     (105 ILCS 5/19-1)  (from Ch. 122, par. 19-1)
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 "An Act to limit the
11 indebtedness of counties having a population of less than
12 500,000 and townships, school districts and other municipal
13 corporations having a population of less than 300,000",
14 approved February 15, 1928, as amended.
15     No school districts maintaining grades K through 8 or 9
16 through 12 shall become indebted in any manner or for any

 

 

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1 purpose to an amount, including existing indebtedness, in the
2 aggregate exceeding 6.9% on the value of the taxable property
3 therein to be ascertained by the last assessment for State and
4 county taxes or, until January 1, 1983, if greater, the sum
5 that is produced by multiplying the school district's 1978
6 equalized assessed valuation by the debt limitation percentage
7 in effect on January 1, 1979, previous to the incurring of such
8 indebtedness.
9     No school districts maintaining grades K through 12 shall
10 become indebted in any manner or for any purpose to an amount,
11 including existing indebtedness, in the aggregate exceeding
12 13.8% on the value of the taxable property therein to be
13 ascertained by the last assessment for State and county taxes
14 or, until January 1, 1983, if greater, the sum that is produced
15 by multiplying the school district's 1978 equalized assessed
16 valuation by the debt limitation percentage in effect on
17 January 1, 1979, previous to the incurring of such
18 indebtedness.
19     No partial elementary unit district, as defined in Article
20 11E of this Code, shall become indebted in any manner or for
21 any purpose in an amount, including existing indebtedness, in
22 the aggregate exceeding 6.9% of the value of the taxable
23 property of the entire district, to be ascertained by the last
24 assessment for State and county taxes, plus an amount,
25 including existing indebtedness, in the aggregate exceeding
26 6.9% of the value of the taxable property of that portion of

 

 

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1 the district included in the elementary and high school
2 classification, to be ascertained by the last assessment for
3 State and county taxes. Moreover, no partial elementary unit
4 district, as defined in Article 11E of this Code, shall become
5 indebted on account of bonds issued by the district for high
6 school purposes in the aggregate exceeding 6.9% of the value of
7 the taxable property of the entire district, to be ascertained
8 by the last assessment for State and county taxes, nor shall
9 the district become indebted on account of bonds issued by the
10 district for elementary purposes in the aggregate exceeding
11 6.9% of the value of the taxable property for that portion of
12 the district included in the elementary and high school
13 classification, to be ascertained by the last assessment for
14 State and county taxes.
15     Notwithstanding the provisions of any other law to the
16 contrary, in any case in which the voters of a school district
17 have approved a proposition for the issuance of bonds of such
18 school district at an election held prior to January 1, 1979,
19 and all of the bonds approved at such election have not been
20 issued, the debt limitation applicable to such school district
21 during the calendar year 1979 shall be computed by multiplying
22 the value of taxable property therein, including personal
23 property, as ascertained by the last assessment for State and
24 county taxes, previous to the incurring of such indebtedness,
25 by the percentage limitation applicable to such school district
26 under the provisions of this subsection (a).

 

 

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1     (b) Notwithstanding the debt limitation prescribed in
2 subsection (a) of this Section, additional indebtedness may be
3 incurred in an amount not to exceed the estimated cost of
4 acquiring or improving school sites or constructing and
5 equipping additional building facilities under the following
6 conditions:
7         (1) Whenever the enrollment of students for the next
8     school year is estimated by the board of education to
9     increase over the actual present enrollment by not less
10     than 35% or by not less than 200 students or the actual
11     present enrollment of students has increased over the
12     previous school year by not less than 35% or by not less
13     than 200 students and the board of education determines
14     that additional school sites or building facilities are
15     required as a result of such increase in enrollment; and
16         (2) When the Regional Superintendent of Schools having
17     jurisdiction over the school district and the State
18     Superintendent of Education concur in such enrollment
19     projection or increase and approve the need for such
20     additional school sites or building facilities and the
21     estimated cost thereof; and
22         (3) When the voters in the school district approve a
23     proposition for the issuance of bonds for the purpose of
24     acquiring or improving such needed school sites or
25     constructing and equipping such needed additional building
26     facilities at an election called and held for that purpose.

 

 

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1     Notice of such an election shall state that the amount of
2     indebtedness proposed to be incurred would exceed the debt
3     limitation otherwise applicable to the school district.
4     The ballot for such proposition shall state what percentage
5     of the equalized assessed valuation will be outstanding in
6     bonds if the proposed issuance of bonds is approved by the
7     voters; or
8         (4) Notwithstanding the provisions of paragraphs (1)
9     through (3) of this subsection (b), if the school board
10     determines that additional facilities are needed to
11     provide a quality educational program and not less than 2/3
12     of those voting in an election called by the school board
13     on the question approve the issuance of bonds for the
14     construction of such facilities, the school district may
15     issue bonds for this purpose; or
16         (5) Notwithstanding the provisions of paragraphs (1)
17     through (3) of this subsection (b), if (i) the school
18     district has previously availed itself of the provisions of
19     paragraph (4) of this subsection (b) to enable it to issue
20     bonds, (ii) the voters of the school district have not
21     defeated a proposition for the issuance of bonds since the
22     referendum described in paragraph (4) of this subsection
23     (b) was held, (iii) the school board determines that
24     additional facilities are needed to provide a quality
25     educational program, and (iv) a majority of those voting in
26     an election called by the school board on the question

 

 

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1     approve the issuance of bonds for the construction of such
2     facilities, the school district may issue bonds for this
3     purpose.
4     In no event shall the indebtedness incurred pursuant to
5 this subsection (b) and the existing indebtedness of the school
6 district exceed 15% of the value of the taxable property
7 therein to be ascertained by the last assessment for State and
8 county taxes, previous to the incurring of such indebtedness
9 or, until January 1, 1983, if greater, the sum that is produced
10 by multiplying the school district's 1978 equalized assessed
11 valuation by the debt limitation percentage in effect on
12 January 1, 1979.
13     The indebtedness provided for by this subsection (b) shall
14 be in addition to and in excess of any other debt limitation.
15     (c) Notwithstanding the debt limitation prescribed in
16 subsection (a) of this Section, in any case in which a public
17 question for the issuance of bonds of a proposed school
18 district maintaining grades kindergarten through 12 received
19 at least 60% of the valid ballots cast on the question at an
20 election held on or prior to November 8, 1994, and in which the
21 bonds approved at such election have not been issued, the
22 school district pursuant to the requirements of Section 11A-10
23 (now repealed) may issue the total amount of bonds approved at
24 such election for the purpose stated in the question.
25     (d) Notwithstanding the debt limitation prescribed in
26 subsection (a) of this Section, a school district that meets

 

 

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1 all the criteria set forth in paragraphs (1) and (2) of this
2 subsection (d) may incur an additional indebtedness in an
3 amount not to exceed $4,500,000, even though the amount of the
4 additional indebtedness authorized by this subsection (d),
5 when incurred and added to the aggregate amount of indebtedness
6 of the district existing immediately prior to the district
7 incurring the additional indebtedness authorized by this
8 subsection (d), causes the aggregate indebtedness of the
9 district to exceed the debt limitation otherwise applicable to
10 that district under subsection (a):
11         (1) The additional indebtedness authorized by this
12     subsection (d) is incurred by the school district through
13     the issuance of bonds under and in accordance with Section
14     17-2.11a for the purpose of replacing a school building
15     which, because of mine subsidence damage, has been closed
16     as provided in paragraph (2) of this subsection (d) or
17     through the issuance of bonds under and in accordance with
18     Section 19-3 for the purpose of increasing the size of, or
19     providing for additional functions in, such replacement
20     school buildings, or both such purposes.
21         (2) The bonds issued by the school district as provided
22     in paragraph (1) above are issued for the purposes of
23     construction by the school district of a new school
24     building pursuant to Section 17-2.11, to replace an
25     existing school building that, because of mine subsidence
26     damage, is closed as of the end of the 1992-93 school year

 

 

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1     pursuant to action of the regional superintendent of
2     schools of the educational service region in which the
3     district is located under Section 3-14.22 or are issued for
4     the purpose of increasing the size of, or providing for
5     additional functions in, the new school building being
6     constructed to replace a school building closed as the
7     result of mine subsidence damage, or both such purposes.
8     (e) (Blank).
9     (f) Notwithstanding the provisions of subsection (a) of
10 this Section or of any other law, bonds in not to exceed the
11 aggregate amount of $5,500,000 and issued by a school district
12 meeting the following criteria shall not be considered
13 indebtedness for purposes of any statutory limitation and may
14 be issued in an amount or amounts, including existing
15 indebtedness, in excess of any heretofore or hereafter imposed
16 statutory limitation as to indebtedness:
17         (1) At the time of the sale of such bonds, the board of
18     education of the district shall have determined by
19     resolution that the enrollment of students in the district
20     is projected to increase by not less than 7% during each of
21     the next succeeding 2 school years.
22         (2) The board of education shall also determine by
23     resolution that the improvements to be financed with the
24     proceeds of the bonds are needed because of the projected
25     enrollment increases.
26         (3) The board of education shall also determine by

 

 

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1     resolution that the projected increases in enrollment are
2     the result of improvements made or expected to be made to
3     passenger rail facilities located in the school district.
4     Notwithstanding the provisions of subsection (a) of this
5 Section or of any other law, a school district that has availed
6 itself of the provisions of this subsection (f) prior to July
7 22, 2004 (the effective date of Public Act 93-799) may also
8 issue bonds approved by referendum up to an amount, including
9 existing indebtedness, not exceeding 25% of the equalized
10 assessed value of the taxable property in the district if all
11 of the conditions set forth in items (1), (2), and (3) of this
12 subsection (f) are met.
13     (g) Notwithstanding the provisions of subsection (a) of
14 this Section or any other law, bonds in not to exceed an
15 aggregate amount of 25% of the equalized assessed value of the
16 taxable property of a school district and issued by a school
17 district meeting the criteria in paragraphs (i) through (iv) of
18 this subsection shall not be considered indebtedness for
19 purposes of any statutory limitation and may be issued pursuant
20 to resolution of the school board in an amount or amounts,
21 including existing indebtedness, in excess of any statutory
22 limitation of indebtedness heretofore or hereafter imposed:
23         (i) The bonds are issued for the purpose of
24     constructing a new high school building to replace two
25     adjacent existing buildings which together house a single
26     high school, each of which is more than 65 years old, and

 

 

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1     which together are located on more than 10 acres and less
2     than 11 acres of property.
3         (ii) At the time the resolution authorizing the
4     issuance of the bonds is adopted, the cost of constructing
5     a new school building to replace the existing school
6     building is less than 60% of the cost of repairing the
7     existing school building.
8         (iii) The sale of the bonds occurs before July 1, 1997.
9         (iv) The school district issuing the bonds is a unit
10     school district located in a county of less than 70,000 and
11     more than 50,000 inhabitants, which has an average daily
12     attendance of less than 1,500 and an equalized assessed
13     valuation of less than $29,000,000.
14     (h) Notwithstanding any other provisions of this Section or
15 the provisions of any other law, until January 1, 1998, a
16 community unit school district maintaining grades K through 12
17 may issue bonds up to an amount, including existing
18 indebtedness, not exceeding 27.6% of the equalized assessed
19 value of the taxable property in the district, if all of the
20 following conditions are met:
21         (i) The school district has an equalized assessed
22     valuation for calendar year 1995 of less than $24,000,000;
23         (ii) The bonds are issued for the capital improvement,
24     renovation, rehabilitation, or replacement of existing
25     school buildings of the district, all of which buildings
26     were originally constructed not less than 40 years ago;

 

 

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

 

 

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1 community unit school district maintaining grades K through 12
2 may issue bonds up to an amount, including existing
3 indebtedness, not exceeding 27% of the equalized assessed value
4 of the taxable property in the district if all of the following
5 conditions are met:
6         (i) The school district has an equalized assessed
7     valuation for calendar year 1995 of less than $140,000,000
8     and a best 3 months average daily attendance for the
9     1995-96 school year of at least 2,800;
10         (ii) The bonds are issued to purchase a site and build
11     and equip a new high school, and the school district's
12     existing high school was originally constructed not less
13     than 35 years prior to the sale of the bonds;
14         (iii) At the time of the sale of the bonds, the board
15     of education determines by resolution that a new high
16     school is needed because of projected enrollment
17     increases;
18         (iv) At least 60% of those voting in an election held
19     after December 31, 1996 approve a proposition for the
20     issuance of the bonds; and
21         (v) The bonds are issued pursuant to Sections 19-2
22     through 19-7 of this Code.
23     (k) Notwithstanding the debt limitation prescribed in
24 subsection (a) of this Section, a school district that meets
25 all the criteria set forth in paragraphs (1) through (4) of
26 this subsection (k) may issue bonds to incur an additional

 

 

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1 indebtedness in an amount not to exceed $4,000,000 even though
2 the amount of the additional indebtedness authorized by this
3 subsection (k), when incurred and added to the aggregate amount
4 of indebtedness of the school district existing immediately
5 prior to the school district incurring such additional
6 indebtedness, causes the aggregate indebtedness of the school
7 district to exceed or increases the amount by which the
8 aggregate indebtedness of the district already exceeds the debt
9 limitation otherwise applicable to that school district under
10 subsection (a):
11         (1) the school district is located in 2 counties, and a
12     referendum to authorize the additional indebtedness was
13     approved by a majority of the voters of the school district
14     voting on the proposition to authorize that indebtedness;
15         (2) the additional indebtedness is for the purpose of
16     financing a multi-purpose room addition to the existing
17     high school;
18         (3) the additional indebtedness, together with the
19     existing indebtedness of the school district, shall not
20     exceed 17.4% of the value of the taxable property in the
21     school district, to be ascertained by the last assessment
22     for State and county taxes; and
23         (4) the bonds evidencing the additional indebtedness
24     are issued, if at all, within 120 days of the effective
25     date of this amendatory Act of 1998.
26     (l) Notwithstanding any other provisions of this Section or

 

 

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1 the provisions of any other law, until January 1, 2000, a
2 school district maintaining grades kindergarten through 8 may
3 issue bonds up to an amount, including existing indebtedness,
4 not exceeding 15% of the equalized assessed value of the
5 taxable property in the district if all of the following
6 conditions are met:
7         (i) the district has an equalized assessed valuation
8     for calendar year 1996 of less than $10,000,000;
9         (ii) the bonds are issued for capital improvement,
10     renovation, rehabilitation, or replacement of one or more
11     school buildings of the district, which buildings were
12     originally constructed not less than 70 years ago;
13         (iii) the voters of the district approve a proposition
14     for the issuance of the bonds at a referendum held on or
15     after March 17, 1998; and
16         (iv) the bonds are issued pursuant to Sections 19-2
17     through 19-7 of this Code.
18     (m) Notwithstanding any other provisions of this Section or
19 the provisions of any other law, until January 1, 1999, an
20 elementary school district maintaining grades K through 8 may
21 issue bonds up to an amount, excluding existing indebtedness,
22 not exceeding 18% of the equalized assessed value of the
23 taxable property in the district, if all of the following
24 conditions are met:
25         (i) The school district has an equalized assessed
26     valuation for calendar year 1995 or less than $7,700,000;

 

 

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1         (ii) The school district operates 2 elementary
2     attendance centers that until 1976 were operated as the
3     attendance centers of 2 separate and distinct school
4     districts;
5         (iii) The bonds are issued for the construction of a
6     new elementary school building to replace an existing
7     multi-level elementary school building of the school
8     district that is not handicapped accessible at all levels
9     and parts of which were constructed more than 75 years ago;
10         (iv) The voters of the school district approve a
11     proposition for the issuance of the bonds at a referendum
12     held after July 1, 1998; and
13         (v) The bonds are issued pursuant to Sections 19-2
14     through 19-7 of this Code.
15     (n) Notwithstanding the debt limitation prescribed in
16 subsection (a) of this Section or any other provisions of this
17 Section or of any other law, a school district that meets all
18 of the criteria set forth in paragraphs (i) through (vi) of
19 this subsection (n) may incur additional indebtedness by the
20 issuance of bonds in an amount not exceeding the amount
21 certified by the Capital Development Board to the school
22 district as provided in paragraph (iii) of this subsection (n),
23 even though the amount of the additional indebtedness so
24 authorized, when incurred and added to the aggregate amount of
25 indebtedness of the district existing immediately prior to the
26 district incurring the additional indebtedness authorized by

 

 

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1 this subsection (n), causes the aggregate indebtedness of the
2 district to exceed the debt limitation otherwise applicable by
3 law to that district:
4         (i) The school district applies to the State Board of
5     Education for a school construction project grant and
6     submits a district facilities plan in support of its
7     application pursuant to Section 5-20 of the School
8     Construction Law.
9         (ii) The school district's application and facilities
10     plan are approved by, and the district receives a grant
11     entitlement for a school construction project issued by,
12     the State Board of Education under the School Construction
13     Law.
14         (iii) The school district has exhausted its bonding
15     capacity or the unused bonding capacity of the district is
16     less than the amount certified by the Capital Development
17     Board to the district under Section 5-15 of the School
18     Construction Law as the dollar amount of the school
19     construction project's cost that the district will be
20     required to finance with non-grant funds in order to
21     receive a school construction project grant under the
22     School Construction Law.
23         (iv) The bonds are issued for a "school construction
24     project", as that term is defined in Section 5-5 of the
25     School Construction Law, in an amount that does not exceed
26     the dollar amount certified, as provided in paragraph (iii)

 

 

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1     of this subsection (n), by the Capital Development Board to
2     the school district under Section 5-15 of the School
3     Construction Law.
4         (v) The voters of the district approve a proposition
5     for the issuance of the bonds at a referendum held after
6     the criteria specified in paragraphs (i) and (iii) of this
7     subsection (n) are met.
8         (vi) The bonds are issued pursuant to Sections 19-2
9     through 19-7 of the School Code.
10     (o) Notwithstanding any other provisions of this Section or
11 the provisions of any other law, until November 1, 2007, a
12 community unit school district maintaining grades K through 12
13 may issue bonds up to an amount, including existing
14 indebtedness, not exceeding 20% of the equalized assessed value
15 of the taxable property in the district if all of the following
16 conditions are met:
17         (i) the school district has an equalized assessed
18     valuation for calendar year 2001 of at least $737,000,000
19     and an enrollment for the 2002-2003 school year of at least
20     8,500;
21         (ii) the bonds are issued to purchase school sites,
22     build and equip a new high school, build and equip a new
23     junior high school, build and equip 5 new elementary
24     schools, and make technology and other improvements and
25     additions to existing schools;
26         (iii) at the time of the sale of the bonds, the board

 

 

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1     of education determines by resolution that the sites and
2     new or improved facilities are needed because of projected
3     enrollment increases;
4         (iv) at least 57% of those voting in a general election
5     held prior to January 1, 2003 approved a proposition for
6     the issuance of the bonds; and
7         (v) the bonds are issued pursuant to Sections 19-2
8     through 19-7 of this Code.
9     (p) Notwithstanding any other provisions of this Section or
10 the provisions of any other law, a community unit school
11 district maintaining grades K through 12 may issue bonds up to
12 an amount, including indebtedness, not exceeding 27% of the
13 equalized assessed value of the taxable property in the
14 district if all of the following conditions are met:
15         (i) The school district has an equalized assessed
16     valuation for calendar year 2001 of at least $295,741,187
17     and a best 3 months' average daily attendance for the
18     2002-2003 school year of at least 2,394.
19         (ii) The bonds are issued to build and equip 3
20     elementary school buildings; build and equip one middle
21     school building; and alter, repair, improve, and equip all
22     existing school buildings in the district.
23         (iii) At the time of the sale of the bonds, the board
24     of education determines by resolution that the project is
25     needed because of expanding growth in the school district
26     and a projected enrollment increase.

 

 

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1         (iv) The bonds are issued pursuant to Sections 19-2
2     through 19-7 of this Code.
3     (p-5) Notwithstanding any other provisions of this Section
4 or the provisions of any other law, bonds issued by a community
5 unit school district maintaining grades K through 12 shall not
6 be considered indebtedness for purposes of any statutory
7 limitation and may be issued in an amount or amounts, including
8 existing indebtedness, in excess of any heretofore or hereafter
9 imposed statutory limitation as to indebtedness, if all of the
10 following conditions are met:
11         (i) For each of the 4 most recent years, residential
12     property comprises more than 80% of the equalized assessed
13     valuation of the district.
14         (ii) At least 2 school buildings that were constructed
15     40 or more years prior to the issuance of the bonds will be
16     demolished and will be replaced by new buildings or
17     additions to one or more existing buildings.
18         (iii) Voters of the district approve a proposition for
19     the issuance of the bonds at a regularly scheduled
20     election.
21         (iv) At the time of the sale of the bonds, the school
22     board determines by resolution that the new buildings or
23     building additions are needed because of an increase in
24     enrollment projected by the school board.
25         (v) The principal amount of the bonds, including
26     existing indebtedness, does not exceed 25% of the equalized

 

 

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

 

 

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1         (vi) The bonds are issued prior to January 1, 2007,
2     pursuant to Sections 19-2 through 19-7 of this Code.
3     (p-15) In addition to all other authority to issue bonds,
4 the Oswego Community Unit School District Number 308 may issue
5 bonds with an aggregate principal amount not to exceed
6 $450,000,000, but only if all of the following conditions are
7 met:
8         (i) The voters of the district have approved a
9     proposition for the bond issue at the general election held
10     on November 7, 2006.
11         (ii) At the time of the sale of the bonds, the school
12     board determines, by resolution, that: (A) the building and
13     equipping of the new high school building, new junior high
14     school buildings, new elementary school buildings, early
15     childhood building, maintenance building, transportation
16     facility, and additions to existing school buildings, the
17     altering, repairing, equipping, and provision of
18     technology improvements to existing school buildings, and
19     the acquisition and improvement of school sites, as the
20     case may be, are required as a result of a projected
21     increase in the enrollment of students in the district; and
22     (B) the sale of bonds for these purposes is authorized by
23     legislation that exempts the debt incurred on the bonds
24     from the district's statutory debt limitation.
25         (iii) The bonds are issued, in one or more bond issues,
26     on or before November 7, 2011, but the aggregate principal

 

 

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1     amount issued in all such bond issues combined must not
2     exceed $450,000,000.
3         (iv) The bonds are issued in accordance with this
4     Article 19.
5         (v) The proceeds of the bonds are used only to
6     accomplish those projects approved by the voters at the
7     general election held on November 7, 2006.
8 The debt incurred on any bonds issued under this subsection
9 (p-15) shall not be considered indebtedness for purposes of any
10 statutory debt limitation.
11     (p-20) In addition to all other authority to issue bonds,
12 the Lincoln-Way Community High School District Number 210 may
13 issue bonds with an aggregate principal amount not to exceed
14 $225,000,000, but only if all of the following conditions are
15 met:
16         (i) The voters of the district have approved a
17     proposition for the bond issue at the general primary
18     election held on March 21, 2006.
19         (ii) At the time of the sale of the bonds, the school
20     board determines, by resolution, that: (A) the building and
21     equipping of the new high school buildings, the altering,
22     repairing, and equipping of existing school buildings, and
23     the improvement of school sites, as the case may be, are
24     required as a result of a projected increase in the
25     enrollment of students in the district; and (B) the sale of
26     bonds for these purposes is authorized by legislation that

 

 

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1     exempts the debt incurred on the bonds from the district's
2     statutory debt limitation.
3         (iii) The bonds are issued, in one or more bond issues,
4     on or before March 21, 2011, but the aggregate principal
5     amount issued in all such bond issues combined must not
6     exceed $225,000,000.
7         (iv) The bonds are issued in accordance with this
8     Article 19.
9         (v) The proceeds of the bonds are used only to
10     accomplish those projects approved by the voters at the
11     primary election held on March 21, 2006.
12 The debt incurred on any bonds issued under this subsection
13 (p-20) shall not be considered indebtedness for purposes of any
14 statutory debt limitation.
15     (p-25) In addition to all other authority to issue bonds,
16 Rochester Community Unit School District 3A may issue bonds
17 with an aggregate principal amount not to exceed $15,000,000,
18 but only if all of the following conditions are met:
19         (i) The voters of the district approve a proposition
20     for the bond issuance at the general primary election held
21     in 2008.
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 a new high school building; the addition of
25     classrooms and support facilities at the high school,
26     middle school, and elementary school; the altering,

 

 

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1     repairing, and equipping of existing school buildings; and
2     the improvement of school sites, as the case may be, are
3     required as a result of a projected increase in the
4     enrollment of students in the district; and (B) the sale of
5     bonds for these purposes is authorized by a law that
6     exempts the debt incurred on the bonds from the district's
7     statutory debt limitation.
8         (iii) The bonds are issued, in one or more bond issues,
9     on or before December 31, 2012, but the aggregate principal
10     amount issued in all such bond issues combined must not
11     exceed $15,000,000.
12         (iv) The bonds are issued in accordance with this
13     Article 19.
14         (v) The proceeds of the bonds are used to accomplish
15     only those projects approved by the voters at the primary
16     election held in 2008.
17 The debt incurred on any bonds issued under this subsection
18 (p-25) shall not be considered indebtedness for purposes of any
19 statutory debt limitation.
20     (p-30) In addition to all other authority to issue bonds,
21 Prairie Grove Consolidated School District 46 may issue bonds
22 with an aggregate principal amount not to exceed $30,000,000,
23 but only if all of the following conditions are met:
24         (i) The voters of the district approve a proposition
25     for the bond issuance at an election held in 2008.
26         (ii) At the time of the sale of the bonds, the school

 

 

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1     board determines, by resolution, that (A) the building and
2     equipping of a new school building and additions to
3     existing school buildings are required as a result of a
4     projected increase in the enrollment of students in the
5     district and (B) the altering, repairing, and equipping of
6     existing school buildings are required because of the age
7     of the existing school buildings.
8         (iii) The bonds are issued, in one or more bond
9     issuances, on or before December 31, 2012; however, the
10     aggregate principal amount issued in all such bond
11     issuances combined must not exceed $30,000,000.
12         (iv) The bonds are issued in accordance with this
13     Article.
14         (v) The proceeds of the bonds are used to accomplish
15     only those projects approved by the voters at an election
16     held in 2008.
17 The debt incurred on any bonds issued under this subsection
18 (p-30) shall not be considered indebtedness for purposes of any
19 statutory debt limitation.
20     (p-35) In addition to all other authority to issue bonds,
21 Prairie Hill Community Consolidated School District 133 may
22 issue bonds with an aggregate principal amount not to exceed
23 $13,900,000, but only if all of the following conditions are
24 met:
25         (i) The voters of the district approved a proposition
26     for the bond issuance at an election held on April 17,

 

 

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1     2007.
2         (ii) At the time of the sale of the bonds, the school
3     board determines, by resolution, that (A) the improvement
4     of the site of and the building and equipping of a school
5     building are required as a result of a projected increase
6     in the enrollment of students in the district and (B) the
7     repairing and equipping of the Prairie Hill Elementary
8     School building is required because of the age of that
9     school building.
10         (iii) The bonds are issued, in one or more bond
11     issuances, on or before December 31, 2011, but the
12     aggregate principal amount issued in all such bond
13     issuances combined must not exceed $13,900,000.
14         (iv) The bonds are issued in accordance with this
15     Article.
16         (v) The proceeds of the bonds are used to accomplish
17     only those projects approved by the voters at an election
18     held on April 17, 2007.
19 The debt incurred on any bonds issued under this subsection
20 (p-35) shall not be considered indebtedness for purposes of any
21 statutory debt limitation.
22     (p-40) In addition to all other authority to issue bonds,
23 Mascoutah Community Unit District 19 may issue bonds with an
24 aggregate principal amount not to exceed $55,000,000, but only
25 if all of the following conditions are met:
26         (1) The voters of the district approve a proposition

 

 

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1     for the bond issuance at a regular election held on or
2     after November 4, 2008.
3         (2) At the time of the sale of the bonds, the school
4     board determines, by resolution, that (i) the building and
5     equipping of a new high school building is required as a
6     result of a projected increase in the enrollment of
7     students in the district and the age and condition of the
8     existing high school building, (ii) the existing high
9     school building will be demolished, and (iii) the sale of
10     bonds is authorized by statute that exempts the debt
11     incurred on the bonds from the district's statutory debt
12     limitation.
13         (3) 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 $55,000,000.
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 a regular
21     election held on or after November 4, 2008.
22     The debt incurred on any bonds issued under this subsection
23 (p-40) shall not be considered indebtedness for purposes of any
24 statutory debt limitation.
25     (p-45) In addition to all other authority to issue bonds,
26 Belle Valley School District 119 may issue bonds with an

 

 

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1 aggregate principal amount not to exceed $47,500,000, 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 April
5     7, 2009.
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 mine subsidence in an existing school building and
10     because of the age and condition of another existing school
11     building and (ii) the issuance of bonds is authorized by
12     statute that exempts the debt incurred on the bonds from
13     the district's statutory debt limitation.
14         (3) The bonds are issued, in one or more bond
15     issuances, on or before March 31, 2014, but the aggregate
16     principal amount issued in all such bond issuances combined
17     must not exceed $47,500,000.
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 those projects approved by the voters at an election
22     held on or after April 7, 2009.
23     The debt incurred on any bonds issued under this subsection
24 (p-45) shall not be considered indebtedness for purposes of any
25 statutory debt limitation. Bonds issued under this subsection
26 (p-45) must mature within not to exceed 25 years from their

 

 

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1 date, notwithstanding any other law to the contrary.
2     (q) A school district must notify the State Board of
3 Education prior to issuing any form of long-term or short-term
4 debt that will result in outstanding debt that exceeds 75% of
5 the debt limit specified in this Section or any other provision
6 of law.
7 (Source: P.A. 94-234, eff. 7-1-06; 94-721, eff. 1-6-06; 94-952,
8 eff. 6-27-06; 94-1019, eff. 7-10-06; 94-1078, eff. 1-9-07;
9 95-331, eff. 8-21-07; 95-594, eff. 9-10-07; 95-792, eff.
10 1-1-09.)
 
11     Section 99. Effective date. This Act takes effect upon
12 becoming law.".