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Sen. Chris Lauzen
Filed: 6/25/2004
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| AMENDMENT TO HOUSE BILL 759
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| AMENDMENT NO. ______. Amend House Bill 759 by replacing |
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| everything after the enacting clause with the following:
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| "Section 5. The School Code is amended by changing Sections |
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| 17-6.1 and 19-1 as follows:
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| (105 ILCS 5/17-6.1) (from Ch. 122, par. 17-6.1)
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| Sec. 17-6.1. Educational purposes and operations, building |
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| and
maintenance purposes concurrent equal increase and |
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| decrease in maximum
authorized tax rate.
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| (a) The school board of any school district having a |
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| population of less
than 500,000 inhabitants may, by proper |
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| resolution, cause to be submitted
to the voters of the school |
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| district at a regular scheduled election the
proposition of |
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| whether the maximum authorized annual tax rate for either
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| educational purposes or operations, building and maintenance |
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| purposes may
be increased with an equal corresponding tax rate |
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| decrease being effected
in the maximum authorized tax rate for |
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| the other fund.
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| (b) The proposition shall be in substantially the following |
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| form:
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| Shall the maximum authorized annual tax rate for |
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| ....... purposes of
School District Number ...., ........ |
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| County, Illinois (commonly known as
.......) be increased |
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| from ....% to ....% and the maximum authorized annual
tax |
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| rate for ....... purposes be decreased concurrently from |
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| ....% to ....%?
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| (c) The rate amount of the proposed tax rate decrease must |
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| be the same
as the rate amount of the proposed tax rate |
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| increase. No maximum tax rate
secured hereunder may exceed the |
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| maximum rate specified for the particular
fund in Section 17-3 |
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| and 17-5.
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| (d) The requirements of Section 17-3.4 shall not apply to |
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| the
proposition provided for in this Section.
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| (e) If at the election a majority of the votes cast on the |
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| proposition
is in favor thereof, the school board may |
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| thereafter annually levy the
taxes as authorized.
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| (f) If, at any election held prior to March 19, 2004, the |
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| voters of a school district approved the proposition to |
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| increase the educational purposes tax rate of the district and |
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| the proposition to increase the rate set forth as the existing |
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| maximum-authorized educational purposes tax rate of the |
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| district the tax rate most recently extended for educational |
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| purposes, then, for the purposes of this Code and the Property |
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| Tax Code, the maximum-authorized educational purposes tax rate |
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| of the district shall be calculated as follows:
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| (1) for the first tax year affected by the results of |
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| the referendum, the district's tax rates shall be |
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| calculated based upon the rates set forth in the |
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| proposition; and
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| (2) for each tax year thereafter, the district's |
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| maximum-authorized educational purposes tax rate approved |
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| at the referendum shall be equal to the sum of the |
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| district's maximum-authorized educational purposes tax |
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| rate immediately preceding the referendum plus the |
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| difference between the rates set forth in the proposition |
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| submitted to the voters of the district at the referendum.
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| Within 10 days after the effective date of this amendatory |
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| Act of the 93rd General Assembly, the school board of any |
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| school district affected by this subsection (f) may, |
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| notwithstanding the requirements of any other law to the |
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| contrary, amend its certificate of tax levy for any year for |
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| which its equalized assessed valuation has not yet been |
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| certified by the county clerk. The amended certificate of tax |
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| levy shall be filed with the county clerk within the 10-day |
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| period after the effective date of this amendatory Act of the |
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| 93rd General Assembly.
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| (Source: P.A. 86-1318.)
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| (105 ILCS 5/19-1) (from Ch. 122, par. 19-1)
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| Sec. 19-1. Debt limitations of school districts.
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| (a) School districts shall not be subject to the provisions |
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| limiting their
indebtedness prescribed in "An Act to limit the |
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| indebtedness of counties having
a population of less than |
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| 500,000 and townships, school districts and other
municipal |
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| corporations having a population of less than 300,000", |
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| approved
February 15, 1928, as amended.
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| No school districts maintaining grades K through 8 or 9 |
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| through 12
shall become indebted in any manner or for any |
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| purpose to an amount,
including existing indebtedness, in the |
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| aggregate exceeding 6.9% on the
value of the taxable property |
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| therein to be ascertained by the last assessment
for State and |
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| county taxes or, until January 1, 1983, if greater, the sum |
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| that
is produced by multiplying the school district's 1978 |
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| equalized assessed
valuation by the debt limitation percentage |
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| in effect on January 1, 1979,
previous to the incurring of such |
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| indebtedness.
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| No school districts maintaining grades K through 12 shall |
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| become
indebted in any manner or for any purpose to an amount, |
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| including
existing indebtedness, in the aggregate exceeding |
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| 13.8% on the value of
the taxable property therein to be |
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| ascertained by the last assessment
for State and county taxes |
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| or, until January 1, 1983, if greater, the sum that
is produced |
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| by multiplying the school district's 1978 equalized assessed
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| valuation by the debt limitation percentage in effect on |
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| January 1, 1979,
previous to the incurring of such |
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| indebtedness.
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| Notwithstanding the provisions of any other law to the |
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| contrary, in any
case in which the voters of a school district |
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| have approved a proposition
for the issuance of bonds of such |
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| school district at an election held prior
to January 1, 1979, |
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| and all of the bonds approved at such election have
not been |
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| issued, the debt limitation applicable to such school district
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| during the calendar year 1979 shall be computed by multiplying |
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| the value
of taxable property therein, including personal |
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| property, as ascertained
by the last assessment for State and |
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| county taxes, previous to the incurring
of such indebtedness, |
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| by the percentage limitation applicable to such school
district |
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| under the provisions of this subsection (a).
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| (b) Notwithstanding the debt limitation prescribed in |
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| subsection (a)
of this Section, additional indebtedness may be |
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| incurred in an amount
not to exceed the estimated cost of |
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| acquiring or improving school sites
or constructing and |
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| equipping additional building facilities under the
following |
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| conditions:
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| (1) Whenever the enrollment of students for the next |
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| school year is
estimated by the board of education to |
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| increase over the actual present
enrollment by not less |
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| than 35% or by not less than 200 students or the
actual |
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| present enrollment of students has increased over the |
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| previous
school year by not less than 35% or by not less |
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| than 200 students and
the board of education determines |
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| that additional school sites or
building facilities are |
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| required as a result of such increase in
enrollment; and
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| (2) When the Regional Superintendent of Schools having |
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| jurisdiction
over the school district and the State |
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| Superintendent of Education
concur in such enrollment |
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| projection or increase and approve the need
for such |
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| additional school sites or building facilities and the
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| estimated cost thereof; and
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| (3) When the voters in the school district approve a |
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| proposition for
the issuance of bonds for the purpose of |
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| acquiring or improving such
needed school sites or |
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| constructing and equipping such needed additional
building |
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| facilities at an election called and held for that purpose.
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| Notice of such an election shall state that the amount of |
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| indebtedness
proposed to be incurred would exceed the debt |
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| limitation otherwise
applicable to the school district. |
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| The ballot for such proposition
shall state what percentage |
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| of the equalized assessed valuation will be
outstanding in |
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| bonds if the proposed issuance of bonds is approved by
the |
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| voters; or
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| (4) Notwithstanding the provisions of paragraphs (1) |
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| through (3) of
this subsection (b), if the school board |
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| determines that additional
facilities are needed to |
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| provide a quality educational program and not
less than 2/3 |
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| of those voting in an election called by the school board
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| on the question approve the issuance of bonds for the |
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| construction of
such facilities, the school district may |
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| issue bonds for this
purpose; or
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| (5) Notwithstanding the provisions of paragraphs (1) |
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| through (3) of this
subsection (b), if (i) the school |
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| district has previously availed itself of the
provisions of |
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| paragraph (4) of this subsection (b) to enable it to issue |
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| bonds,
(ii) the voters of the school district have not |
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| defeated a proposition for the
issuance of bonds since the |
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| referendum described in paragraph (4) of this
subsection |
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| (b) was held, (iii) the school board determines that |
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| additional
facilities are needed to provide a quality |
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| educational program, and (iv) a
majority of those voting in |
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| an election called by the school board on the
question |
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| approve the issuance of bonds for the construction of such |
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| facilities,
the school district may issue bonds for this |
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| purpose.
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| In no event shall the indebtedness incurred pursuant to |
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| this
subsection (b) and the existing indebtedness of the school |
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| district
exceed 15% of the value of the taxable property |
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| therein to be
ascertained by the last assessment for State and |
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| county taxes, previous
to the incurring of such indebtedness |
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| or, until January 1, 1983, if greater,
the sum that is produced |
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| by multiplying the school district's 1978 equalized
assessed |
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| valuation by the debt limitation percentage in effect on |
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| January 1,
1979.
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| The indebtedness provided for by this subsection (b) shall |
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| be in
addition to and in excess of any other debt limitation.
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| (c) Notwithstanding the debt limitation prescribed in |
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| subsection (a)
of this Section, in any case in which a public |
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| question for the issuance
of bonds of a proposed school |
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| district maintaining grades kindergarten
through 12 received |
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| at least 60% of the valid ballots cast on the question at
an |
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| election held on or prior to November 8, 1994, and in which the |
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| bonds
approved at such election have not been issued, the |
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| school district pursuant to
the requirements of Section 11A-10 |
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| may issue the total amount of bonds approved
at such election |
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| for the purpose stated in the question.
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| (d) Notwithstanding the debt limitation prescribed in |
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| subsection (a)
of this Section, a school district that meets |
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| all the criteria set forth in
paragraphs (1) and (2) of this |
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| subsection (d) may incur an additional
indebtedness in an |
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| amount not to exceed $4,500,000, even though the amount of
the |
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| additional indebtedness authorized by this subsection (d), |
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| when incurred
and added to the aggregate amount of indebtedness |
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| of the district existing
immediately prior to the district |
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| incurring the additional indebtedness
authorized by this |
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| subsection (d), causes the aggregate indebtedness of the
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| district to exceed the debt limitation otherwise applicable to |
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| that district
under subsection (a):
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| (1) The additional indebtedness authorized by this |
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| subsection (d) is
incurred by the school district through |
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| the issuance of bonds under and in
accordance with Section |
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| 17-2.11a for the purpose of replacing a school
building |
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| which, because of mine subsidence damage, has been closed |
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| as provided
in paragraph (2) of this subsection (d) or |
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| through the issuance of bonds under
and in accordance with |
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| Section 19-3 for the purpose of increasing the size of,
or |
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| providing for additional functions in, such replacement |
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| school buildings, or
both such purposes.
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| (2) The bonds issued by the school district as provided |
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| in paragraph (1)
above are issued for the purposes of |
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| construction by the school district of
a new school |
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| building pursuant to Section 17-2.11, to replace an |
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| existing
school building that, because of mine subsidence |
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| damage, is closed as of the
end of the 1992-93 school year |
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| pursuant to action of the regional
superintendent of |
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| schools of the educational service region in which the
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| district is located under Section 3-14.22 or are issued for |
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| the purpose of
increasing the size of, or providing for |
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| additional functions in, the new
school building being |
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| constructed to replace a school building closed as the
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| result of mine subsidence damage, or both such purposes.
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| (e) Notwithstanding the debt limitation prescribed in |
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| subsection (a) of
this Section, a school district that meets |
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| all the criteria set forth in
paragraphs (1) through (5) of |
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| this subsection (e) may, without referendum,
incur an |
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| additional indebtedness in an amount not to exceed the lesser |
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| of
$5,000,000 or 1.5% of the value of the taxable property |
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| within the district
even though the amount of the additional |
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| indebtedness authorized by this
subsection (e), when incurred |
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| and added to the aggregate amount of indebtedness
of the |
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| district existing immediately prior to the district incurring |
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| that
additional indebtedness, causes the aggregate |
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| indebtedness of the district to
exceed or increases the amount |
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| by which the aggregate indebtedness of the
district already |
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| exceeds the debt limitation otherwise applicable to that
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| district under subsection (a):
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| (1) The State Board of Education certifies the school |
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| district under
Section 19-1.5 as a financially distressed |
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| district.
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| (2) The additional indebtedness authorized by this |
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| subsection (e) is
incurred by the financially distressed |
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| district during the school year or
school years in which |
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| the certification of the district as a financially
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| distressed district continues in effect through the |
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| issuance of bonds for the
lawful school purposes of the |
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| district, pursuant to resolution of the school
board and |
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| without referendum, as provided in paragraph (5) of this |
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| subsection.
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| (3) The aggregate amount of bonds issued by the |
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| financially distressed
district during a fiscal year in |
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| which it is authorized to issue bonds under
this subsection |
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| does not exceed the amount by which the aggregate |
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| expenditures
of the district for operational purposes |
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| during the immediately preceding
fiscal year exceeds the |
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| amount appropriated for the operational
purposes of the |
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| district in the annual school budget adopted by the school
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| board of the district for the fiscal year in which the |
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| bonds are issued.
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| (4) Throughout each fiscal year in which certification |
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| of the district as
a financially distressed district |
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| continues in effect, the district maintains
in effect a |
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| gross salary expense and gross wage expense freeze policy |
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| under
which the district expenditures for total employee |
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| salaries and wages do not
exceed such expenditures for the |
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| immediately preceding fiscal year. Nothing in
this |
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| paragraph, however, shall be deemed to impair or to require |
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| impairment of
the contractual obligations, including |
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| collective bargaining agreements, of the
district or to |
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| impair or require the impairment of the vested rights of |
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| any
employee of the district under the terms of any |
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| contract or agreement in effect
on the effective date of |
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| this amendatory Act of 1994.
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| (5) Bonds issued by the financially distressed |
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| district under this
subsection shall bear interest at a |
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| rate not to exceed the maximum rate
authorized by law at |
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| the time of the making of the contract, shall mature
within |
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| 40 years from their date of issue, and shall be signed by |
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| the president
of the school board and treasurer of the |
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| school district. In order to issue
bonds under this |
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| subsection, the school board shall adopt a resolution |
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| fixing
the amount of the bonds, the
date of the bonds, the |
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| maturities of the bonds, the rates of interest of the
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| bonds, and their place of payment and denomination, and |
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| shall provide
for the levy and collection of a direct |
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| annual tax upon all the taxable
property in the district |
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| sufficient to pay the principal and interest on the
bonds |
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| to maturity. Upon the filing in the office of the county |
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| clerk of the
county in which the financially
distressed |
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| district is located of a certified copy of the resolution, |
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| it is the
duty of the county clerk to extend the tax |
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| therefor in addition to and in
excess of all other taxes at |
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| any time authorized to be levied by the district.
If bond |
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| proceeds from the sale of bonds include a premium or if the |
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| proceeds of
the bonds are invested as authorized by law, |
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| the school board shall determine
by resolution whether the |
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| interest earned on the investment of bond proceeds or
the |
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| premium realized on the sale of the bonds is to be used for |
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| any of the
lawful school purposes for which the bonds were |
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| issued or for the payment of
the principal indebtedness and |
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| interest on the bonds. The proceeds of the bond
sale shall |
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| be deposited in the educational purposes fund of the |
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| district and
shall be used to pay operational expenses of |
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| the district. This subsection is
cumulative and |
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| constitutes complete authority for the issuance of bonds as
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| provided in this subsection, notwithstanding any other law |
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| to the contrary.
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| (f) Notwithstanding the provisions of subsection (a) of |
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| this Section or of
any other law, bonds in not to exceed the |
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| aggregate amount of $5,500,000 and
issued by a school district |
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| meeting the following criteria shall not be
considered |
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| indebtedness for purposes of any statutory limitation and may |
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| be
issued in an amount or amounts, including existing |
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| indebtedness, in excess of
any heretofore or hereafter imposed |
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| statutory limitation as to indebtedness:
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| (1) At the time of the sale of such bonds, the board of |
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| education of the
district shall have determined by |
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| resolution that the enrollment of students in
the district |
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| is projected to increase by not less than 7% during each of |
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| the
next succeeding 2 school years.
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| (2) The board of education shall also determine by |
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| resolution that the
improvements to be financed with the |
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| proceeds of the bonds are needed because
of the projected |
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| enrollment increases.
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| (3) The board of education shall also determine by |
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| resolution that the
projected increases in enrollment are |
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| the result of improvements made or
expected to be made to |
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| passenger rail facilities located in the school
district.
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| (g) Notwithstanding the provisions of subsection (a) of |
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| this Section or any
other law, bonds in not to exceed an |
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| aggregate amount of 25% of the equalized
assessed value of the |
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| taxable property of a school district and issued by a
school |
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| district meeting the criteria in paragraphs (i) through (iv) of |
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| this
subsection shall not be considered indebtedness for |
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| purposes of any statutory
limitation and may be issued pursuant |
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| to resolution of the school board in an
amount or amounts, |
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| including existing indebtedness, in
excess of any statutory |
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| limitation of indebtedness heretofore or hereafter
imposed:
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| (i) The bonds are issued for the purpose of |
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| constructing a new high school
building to replace two |
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| adjacent existing buildings which together house a
single |
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| high school, each of which is more than 65 years old, and |
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| which together
are located on more than 10 acres and less |
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| than 11 acres of property.
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| (ii) At the time the resolution authorizing the |
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| issuance of the bonds is
adopted, the cost of constructing |
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| a new school building to replace the existing
school |
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| building is less than 60% of the cost of repairing the |
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| existing school
building.
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| (iii) The sale of the bonds occurs before July 1, 1997.
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| (iv) The school district issuing the bonds is a unit |
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| school district
located in a county of less than 70,000 and |
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| more than 50,000 inhabitants,
which has an average daily |
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| attendance of less than 1,500 and an equalized
assessed |
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| valuation of less than $29,000,000.
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| (h) Notwithstanding any other provisions of this Section or |
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| the
provisions of any other law, until January 1, 1998, a |
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| community unit school
district maintaining grades K through 12 |
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| may issue bonds up to an amount,
including existing |
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| indebtedness, not exceeding 27.6% of the equalized assessed
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| value of the taxable property in the district, if all of the |
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| following
conditions are met:
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| (i) The school district has an equalized assessed |
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| valuation for calendar
year 1995 of less than $24,000,000;
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| (ii) The bonds are issued for the capital improvement, |
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| renovation,
rehabilitation, or replacement of existing |
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| school buildings of the district,
all of which buildings |
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| were originally constructed not less than 40 years ago;
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| (iii) The voters of the district approve a proposition |
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| for the issuance of
the bonds at a referendum held after |
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| March 19, 1996; and
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| (iv) The bonds are issued pursuant to Sections 19-2 |
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| through 19-7 of this
Code.
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| (i) Notwithstanding any other provisions of this Section or |
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| the provisions
of any other law, until January 1, 1998, a |
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| community unit school district
maintaining grades K through 12 |
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| may issue bonds up to an amount, including
existing |
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| indebtedness, not exceeding 27% of the equalized assessed value |
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| of the
taxable property in the district, if all of the |
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| following conditions are met:
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| (i) The school district has an equalized assessed |
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| valuation for calendar
year 1995 of less than $44,600,000;
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| (ii) The bonds are issued for the capital improvement, |
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| renovation,
rehabilitation, or replacement
of existing |
18 |
| school buildings of the district, all of which
existing |
19 |
| buildings were originally constructed not less than 80 |
20 |
| years ago;
|
21 |
| (iii) The voters of the district approve a proposition |
22 |
| for the issuance of
the bonds at a referendum held after |
23 |
| December 31, 1996; and
|
24 |
| (iv) The bonds are issued pursuant to Sections 19-2 |
25 |
| through 19-7 of this
Code.
|
26 |
| (j) Notwithstanding any other provisions of this Section or |
27 |
| the
provisions of any other law, until January 1, 1999, a |
28 |
| community unit school
district maintaining grades K through 12 |
29 |
| may issue bonds up to an amount,
including existing |
30 |
| indebtedness, not exceeding 27% of the equalized assessed
value |
31 |
| of the taxable property in the district if all of the following
|
32 |
| conditions are met:
|
33 |
| (i) The school district has an equalized assessed |
34 |
| valuation for calendar
year 1995 of less than $140,000,000 |
|
|
|
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| and a best 3 months
average daily
attendance for the |
2 |
| 1995-96 school year of at least 2,800;
|
3 |
| (ii) The bonds are issued to purchase a site and build |
4 |
| and equip a new
high school, and the school district's |
5 |
| existing high school was originally
constructed not less |
6 |
| than 35
years prior to the sale of the bonds;
|
7 |
| (iii) At the time of the sale of the bonds, the board |
8 |
| of education
determines
by resolution that a new high |
9 |
| school is needed because of projected enrollment
|
10 |
| increases;
|
11 |
| (iv) At least 60% of those voting in an election held
|
12 |
| after December 31, 1996 approve a proposition
for the |
13 |
| issuance of
the bonds; and
|
14 |
| (v) The bonds are issued pursuant to Sections 19-2 |
15 |
| through
19-7 of this Code.
|
16 |
| (k) Notwithstanding the debt limitation prescribed in |
17 |
| subsection (a) of
this Section, a school district that meets |
18 |
| all the criteria set forth in
paragraphs (1) through (4) of |
19 |
| this subsection (k) may issue bonds to incur an
additional |
20 |
| indebtedness in an amount not to exceed $4,000,000 even though |
21 |
| the
amount of the additional indebtedness authorized by this |
22 |
| subsection (k), when
incurred and added to the aggregate amount |
23 |
| of indebtedness of the school
district existing immediately |
24 |
| prior to the school district incurring such
additional |
25 |
| indebtedness, causes the aggregate indebtedness of the school
|
26 |
| district to exceed or increases the amount by which the |
27 |
| aggregate indebtedness
of the district already exceeds the debt |
28 |
| limitation otherwise applicable to
that school district under |
29 |
| subsection (a):
|
30 |
| (1) the school district is located in 2 counties, and a |
31 |
| referendum to
authorize the additional indebtedness was |
32 |
| approved by a majority of the voters
of the school district |
33 |
| voting on the proposition to authorize that
indebtedness;
|
34 |
| (2) the additional indebtedness is for the purpose of |
|
|
|
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| financing a
multi-purpose room addition to the existing |
2 |
| high school;
|
3 |
| (3) the additional indebtedness, together with the |
4 |
| existing indebtedness
of the school district, shall not |
5 |
| exceed 17.4% of the value of the taxable
property in the |
6 |
| school district, to be ascertained by the last assessment |
7 |
| for
State and county taxes; and
|
8 |
| (4) the bonds evidencing the additional indebtedness |
9 |
| are issued, if at
all, within 120 days of the effective |
10 |
| date of this amendatory Act of 1998.
|
11 |
| (l) Notwithstanding any other provisions of this Section or |
12 |
| the
provisions of any other law, until January 1, 2000, a |
13 |
| school district
maintaining grades kindergarten through 8 may |
14 |
| issue bonds up to an amount,
including existing indebtedness, |
15 |
| not exceeding 15% of the equalized assessed
value of the |
16 |
| taxable property in the district if all of the following
|
17 |
| conditions are met:
|
18 |
| (i) the district has an equalized assessed valuation |
19 |
| for calendar year
1996 of less than $10,000,000;
|
20 |
| (ii) the bonds are issued for capital improvement, |
21 |
| renovation,
rehabilitation, or replacement of one or more |
22 |
| school buildings of the district,
which buildings were |
23 |
| originally constructed not less than 70 years ago;
|
24 |
| (iii) the voters of the district approve a proposition |
25 |
| for the issuance of
the bonds at a referendum held on or |
26 |
| after March 17, 1998; and
|
27 |
| (iv) the bonds are issued pursuant to Sections 19-2 |
28 |
| through 19-7 of this
Code.
|
29 |
| (m) Notwithstanding any other provisions of this Section or |
30 |
| the provisions
of
any other law, until January 1, 1999, an |
31 |
| elementary school district maintaining
grades K through 8 may |
32 |
| issue bonds up to an amount, excluding existing
indebtedness, |
33 |
| not exceeding 18% of the equalized assessed value of the |
34 |
| taxable
property in the district, if all of the following |
|
|
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| 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 handicapped accessible at all levels |
12 |
| and parts of
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
|
27 |
| authorized, when incurred and added to the aggregate amount of |
28 |
| indebtedness of
the district existing immediately prior to the |
29 |
| district incurring the
additional indebtedness authorized by |
30 |
| this subsection (n), causes the aggregate
indebtedness of the |
31 |
| district to exceed the debt limitation otherwise applicable
by |
32 |
| law to that district:
|
33 |
| (i) The school district applies to the State Board of |
34 |
| Education for a
school construction project grant and |
|
|
|
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| submits a district facilities plan in
support
of its |
2 |
| application pursuant to Section 5-20 of
the School |
3 |
| Construction Law.
|
4 |
| (ii) The school district's application and facilities |
5 |
| plan are approved
by,
and the district receives a grant |
6 |
| entitlement for a school construction project
issued by, |
7 |
| the State Board of Education under the School Construction |
8 |
| Law.
|
9 |
| (iii) The school district has exhausted its bonding |
10 |
| capacity or the unused
bonding capacity of the district is |
11 |
| less than the amount certified by the
Capital Development |
12 |
| Board to the district under Section 5-15 of the School
|
13 |
| Construction Law as the dollar amount of the school |
14 |
| construction project's cost
that the district will be |
15 |
| required to finance with non-grant funds in order to
|
16 |
| receive a school construction project grant under the |
17 |
| School Construction Law.
|
18 |
| (iv) The bonds are issued for a "school construction |
19 |
| project", as that
term is defined in Section 5-5 of the |
20 |
| School Construction Law, in an amount
that does not exceed |
21 |
| the dollar amount certified, as provided in paragraph
(iii) |
22 |
| of this subsection (n), by the Capital Development Board
to |
23 |
| the school
district under Section 5-15 of the School |
24 |
| Construction Law.
|
25 |
| (v) The voters of the district approve a proposition |
26 |
| for the issuance of
the bonds at a referendum held after |
27 |
| the criteria specified in paragraphs (i)
and (iii) of this |
28 |
| subsection (n) are met.
|
29 |
| (vi) The bonds are issued pursuant to Sections 19-2 |
30 |
| through 19-7 of the
School Code.
|
31 |
| (o) Notwithstanding any other provisions of this Section or |
32 |
| the
provisions of any other law, until November 1, 2007, a |
33 |
| community unit
school district maintaining grades K through 12 |
34 |
| may issue bonds up to
an amount, including existing |
|
|
|
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|
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| indebtedness, not exceeding 20% of the
equalized assessed value |
2 |
| of the taxable property in the district if all of the
following |
3 |
| conditions are met:
|
4 |
| (i) the school district has an equalized assessed |
5 |
| valuation
for calendar year 2001 of at least $737,000,000 |
6 |
| and an enrollment
for the 2002-2003 school year of at least |
7 |
| 8,500;
|
8 |
| (ii) the bonds are issued to purchase school sites, |
9 |
| build and
equip a new high school, build and equip a new |
10 |
| junior high school,
build and equip 5 new elementary |
11 |
| schools, and make technology
and other improvements and |
12 |
| additions to existing schools;
|
13 |
| (iii) at the time of the sale of the bonds, the board |
14 |
| of
education determines by resolution that the sites and |
15 |
| new or
improved facilities are needed because of projected |
16 |
| enrollment
increases;
|
17 |
| (iv) at least 57% of those voting in a general election |
18 |
| held
prior to January 1, 2003 approved a proposition for |
19 |
| the issuance of
the bonds; and
|
20 |
| (v) the bonds are issued pursuant to Sections 19-2 |
21 |
| through
19-7 of this Code.
|
22 |
| (p) Notwithstanding any other provisions of this Section or |
23 |
| the provisions of any other law, a community unit school |
24 |
| district maintaining grades K through 12 may issue bonds up to |
25 |
| an amount, including indebtedness, not exceeding 27% of the |
26 |
| equalized assessed value of the taxable property in the |
27 |
| district if all of the following conditions are met: |
28 |
| (i) The school district has an equalized assessed |
29 |
| valuation for calendar year 2001 of at least $295,741,187 |
30 |
| and a best 3 months' average daily attendance for the |
31 |
| 2002-2003 school year of at least 2,394. |
32 |
| (ii) The bonds are issued to build and equip 3 |
33 |
| elementary school buildings; build and equip one middle |
34 |
| school building; and alter, repair, improve, and equip all |
|
|
|
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1 |
| existing school buildings in the district. |
2 |
| (iii) At the time of the sale of the bonds, the board |
3 |
| of education determines by resolution that the project is |
4 |
| needed because of expanding growth in the school district |
5 |
| and a projected enrollment increase. |
6 |
| (iv) The bonds are issued pursuant to Sections 19-2 |
7 |
| through 19-7 of this Code.
|
8 |
| (Source: P.A. 93-13, eff. 6-9-03.)
|
9 |
| Section 99. Effective date. This Act takes effect upon |
10 |
| becoming law.".
|