Sen. Chris Lauzen

Filed: 6/25/2004

 

 


 

 


 
09300HB0759sam001 LRB093 05407 NHT 52077 a

1
AMENDMENT TO HOUSE BILL 759

2     AMENDMENT NO. ______. Amend House Bill 759 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The School Code is amended by changing Sections
5 17-6.1 and 19-1 as follows:
 
6     (105 ILCS 5/17-6.1)  (from Ch. 122, par. 17-6.1)
7     Sec. 17-6.1. Educational purposes and operations, building
8 and maintenance purposes concurrent equal increase and
9 decrease in maximum authorized tax rate.
10     (a) The school board of any school district having a
11 population of less than 500,000 inhabitants may, by proper
12 resolution, cause to be submitted to the voters of the school
13 district at a regular scheduled election the proposition of
14 whether the maximum authorized annual tax rate for either
15 educational purposes or operations, building and maintenance
16 purposes may be increased with an equal corresponding tax rate
17 decrease being effected in the maximum authorized tax rate for
18 the other fund.
19     (b) The proposition shall be in substantially the following
20 form:
21         Shall the maximum authorized annual tax rate for
22     ....... purposes of School District Number ...., ........
23     County, Illinois (commonly known as .......) be increased
24     from ....% to ....% and the maximum authorized annual tax

 

 

09300HB0759sam001 - 2 - LRB093 05407 NHT 52077 a

1     rate for ....... purposes be decreased concurrently from
2     ....% to ....%?
3     (c) The rate amount of the proposed tax rate decrease must
4 be the same as the rate amount of the proposed tax rate
5 increase. No maximum tax rate secured hereunder may exceed the
6 maximum rate specified for the particular fund in Section 17-3
7 and 17-5.
8     (d) The requirements of Section 17-3.4 shall not apply to
9 the proposition provided for in this Section.
10     (e) If at the election a majority of the votes cast on the
11 proposition is in favor thereof, the school board may
12 thereafter annually levy the taxes as authorized.
13     (f) If, at any election held prior to March 19, 2004, the
14 voters of a school district approved the proposition to
15 increase the educational purposes tax rate of the district and
16 the proposition to increase the rate set forth as the existing
17 maximum-authorized educational purposes tax rate of the
18 district the tax rate most recently extended for educational
19 purposes, then, for the purposes of this Code and the Property
20 Tax Code, the maximum-authorized educational purposes tax rate
21 of the district shall be calculated as follows:
22         (1) for the first tax year affected by the results of
23     the referendum, the district's tax rates shall be
24     calculated based upon the rates set forth in the
25     proposition; and
26         (2) for each tax year thereafter, the district's
27     maximum-authorized educational purposes tax rate approved
28     at the referendum shall be equal to the sum of the
29     district's maximum-authorized educational purposes tax
30     rate immediately preceding the referendum plus the
31     difference between the rates set forth in the proposition
32     submitted to the voters of the district at the referendum.
33     Within 10 days after the effective date of this amendatory
34 Act of the 93rd General Assembly, the school board of any

 

 

09300HB0759sam001 - 3 - LRB093 05407 NHT 52077 a

1 school district affected by this subsection (f) may,
2 notwithstanding the requirements of any other law to the
3 contrary, amend its certificate of tax levy for any year for
4 which its equalized assessed valuation has not yet been
5 certified by the county clerk. The amended certificate of tax
6 levy shall be filed with the county clerk within the 10-day
7 period after the effective date of this amendatory Act of the
8 93rd General Assembly.
9 (Source: P.A. 86-1318.)
 
10     (105 ILCS 5/19-1)  (from Ch. 122, par. 19-1)
11     Sec. 19-1. Debt limitations of school districts.
12     (a) School districts shall not be subject to the provisions
13 limiting their indebtedness prescribed in "An Act to limit the
14 indebtedness of counties having a population of less than
15 500,000 and townships, school districts and other municipal
16 corporations having a population of less than 300,000",
17 approved February 15, 1928, as amended.
18     No school districts maintaining grades K through 8 or 9
19 through 12 shall become indebted in any manner or for any
20 purpose to an amount, including existing indebtedness, in the
21 aggregate exceeding 6.9% on the value of the taxable property
22 therein to be ascertained by the last assessment for State and
23 county taxes or, until January 1, 1983, if greater, the sum
24 that is produced by multiplying the school district's 1978
25 equalized assessed valuation by the debt limitation percentage
26 in effect on January 1, 1979, previous to the incurring of such
27 indebtedness.
28     No school districts maintaining grades K through 12 shall
29 become indebted in any manner or for any purpose to an amount,
30 including existing indebtedness, in the aggregate exceeding
31 13.8% on the value of the taxable property therein to be
32 ascertained by the last assessment for State and county taxes
33 or, until January 1, 1983, if greater, the sum that is produced

 

 

09300HB0759sam001 - 4 - LRB093 05407 NHT 52077 a

1 by multiplying the school district's 1978 equalized assessed
2 valuation by the debt limitation percentage in effect on
3 January 1, 1979, previous to the incurring of such
4 indebtedness.
5     Notwithstanding the provisions of any other law to the
6 contrary, in any case in which the voters of a school district
7 have approved a proposition for the issuance of bonds of such
8 school district at an election held prior to January 1, 1979,
9 and all of the bonds approved at such election have not been
10 issued, the debt limitation applicable to such school district
11 during the calendar year 1979 shall be computed by multiplying
12 the value of taxable property therein, including personal
13 property, as ascertained by the last assessment for State and
14 county taxes, previous to the incurring of such indebtedness,
15 by the percentage limitation applicable to such school district
16 under the provisions of this subsection (a).
17     (b) Notwithstanding the debt limitation prescribed in
18 subsection (a) of this Section, additional indebtedness may be
19 incurred in an amount not to exceed the estimated cost of
20 acquiring or improving school sites or constructing and
21 equipping additional building facilities under the following
22 conditions:
23         (1) Whenever the enrollment of students for the next
24     school year is estimated by the board of education to
25     increase over the actual present enrollment by not less
26     than 35% or by not less than 200 students or the actual
27     present enrollment of students has increased over the
28     previous school year by not less than 35% or by not less
29     than 200 students and the board of education determines
30     that additional school sites or building facilities are
31     required as a result of such increase in enrollment; and
32         (2) When the Regional Superintendent of Schools having
33     jurisdiction over the school district and the State
34     Superintendent of Education concur in such enrollment

 

 

09300HB0759sam001 - 5 - LRB093 05407 NHT 52077 a

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

 

 

09300HB0759sam001 - 6 - LRB093 05407 NHT 52077 a

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 may issue the total amount of bonds approved at such election
24 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
27 all the criteria set forth in paragraphs (1) and (2) of this
28 subsection (d) may incur an additional indebtedness in an
29 amount not to exceed $4,500,000, even though the amount of the
30 additional indebtedness authorized by this subsection (d),
31 when incurred and added to the aggregate amount of indebtedness
32 of the district existing immediately prior to the district
33 incurring the additional indebtedness authorized by this
34 subsection (d), causes the aggregate indebtedness of the

 

 

09300HB0759sam001 - 7 - LRB093 05407 NHT 52077 a

1 district to exceed the debt limitation otherwise applicable to
2 that district under subsection (a):
3         (1) The additional indebtedness authorized by this
4     subsection (d) is incurred by the school district through
5     the issuance of bonds under and in accordance with Section
6     17-2.11a for the purpose of replacing a school building
7     which, because of mine subsidence damage, has been closed
8     as provided in paragraph (2) of this subsection (d) or
9     through the issuance of bonds under and in accordance with
10     Section 19-3 for the purpose of increasing the size of, or
11     providing for additional functions in, such replacement
12     school buildings, or both such purposes.
13         (2) The bonds issued by the school district as provided
14     in paragraph (1) above are issued for the purposes of
15     construction by the school district of a new school
16     building pursuant to Section 17-2.11, to replace an
17     existing school building that, because of mine subsidence
18     damage, is closed as of the end of the 1992-93 school year
19     pursuant to action of the regional superintendent of
20     schools of the educational service region in which the
21     district is located under Section 3-14.22 or are issued for
22     the purpose of increasing the size of, or providing for
23     additional functions in, the new school building being
24     constructed to replace a school building closed as the
25     result of mine subsidence damage, or both such purposes.
26     (e) Notwithstanding the debt limitation prescribed in
27 subsection (a) of this Section, a school district that meets
28 all the criteria set forth in paragraphs (1) through (5) of
29 this subsection (e) may, without referendum, incur an
30 additional indebtedness in an amount not to exceed the lesser
31 of $5,000,000 or 1.5% of the value of the taxable property
32 within the district even though the amount of the additional
33 indebtedness authorized by this subsection (e), when incurred
34 and added to the aggregate amount of indebtedness of the

 

 

09300HB0759sam001 - 8 - LRB093 05407 NHT 52077 a

1 district existing immediately prior to the district incurring
2 that additional indebtedness, causes the aggregate
3 indebtedness of the district to exceed or increases the amount
4 by which the aggregate indebtedness of the district already
5 exceeds the debt limitation otherwise applicable to that
6 district under subsection (a):
7         (1) The State Board of Education certifies the school
8     district under Section 19-1.5 as a financially distressed
9     district.
10         (2) The additional indebtedness authorized by this
11     subsection (e) is incurred by the financially distressed
12     district during the school year or school years in which
13     the certification of the district as a financially
14     distressed district continues in effect through the
15     issuance of bonds for the lawful school purposes of the
16     district, pursuant to resolution of the school board and
17     without referendum, as provided in paragraph (5) of this
18     subsection.
19         (3) The aggregate amount of bonds issued by the
20     financially distressed district during a fiscal year in
21     which it is authorized to issue bonds under this subsection
22     does not exceed the amount by which the aggregate
23     expenditures of the district for operational purposes
24     during the immediately preceding fiscal year exceeds the
25     amount appropriated for the operational purposes of the
26     district in the annual school budget adopted by the school
27     board of the district for the fiscal year in which the
28     bonds are issued.
29         (4) Throughout each fiscal year in which certification
30     of the district as a financially distressed district
31     continues in effect, the district maintains in effect a
32     gross salary expense and gross wage expense freeze policy
33     under which the district expenditures for total employee
34     salaries and wages do not exceed such expenditures for the

 

 

09300HB0759sam001 - 9 - LRB093 05407 NHT 52077 a

1     immediately preceding fiscal year. Nothing in this
2     paragraph, however, shall be deemed to impair or to require
3     impairment of the contractual obligations, including
4     collective bargaining agreements, of the district or to
5     impair or require the impairment of the vested rights of
6     any employee of the district under the terms of any
7     contract or agreement in effect on the effective date of
8     this amendatory Act of 1994.
9         (5) Bonds issued by the financially distressed
10     district under this subsection shall bear interest at a
11     rate not to exceed the maximum rate authorized by law at
12     the time of the making of the contract, shall mature within
13     40 years from their date of issue, and shall be signed by
14     the president of the school board and treasurer of the
15     school district. In order to issue bonds under this
16     subsection, the school board shall adopt a resolution
17     fixing the amount of the bonds, the date of the bonds, the
18     maturities of the bonds, the rates of interest of the
19     bonds, and their place of payment and denomination, and
20     shall provide for the levy and collection of a direct
21     annual tax upon all the taxable property in the district
22     sufficient to pay the principal and interest on the bonds
23     to maturity. Upon the filing in the office of the county
24     clerk of the county in which the financially distressed
25     district is located of a certified copy of the resolution,
26     it is the duty of the county clerk to extend the tax
27     therefor in addition to and in excess of all other taxes at
28     any time authorized to be levied by the district. If bond
29     proceeds from the sale of bonds include a premium or if the
30     proceeds of the bonds are invested as authorized by law,
31     the school board shall determine by resolution whether the
32     interest earned on the investment of bond proceeds or the
33     premium realized on the sale of the bonds is to be used for
34     any of the lawful school purposes for which the bonds were

 

 

09300HB0759sam001 - 10 - LRB093 05407 NHT 52077 a

1     issued or for the payment of the principal indebtedness and
2     interest on the bonds. The proceeds of the bond sale shall
3     be deposited in the educational purposes fund of the
4     district and shall be used to pay operational expenses of
5     the district. This subsection is cumulative and
6     constitutes complete authority for the issuance of bonds as
7     provided in this subsection, notwithstanding any other law
8     to the contrary.
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
27     resolution that the projected increases in enrollment are
28     the result of improvements made or expected to be made to
29     passenger rail facilities located in the school district.
30     (g) Notwithstanding the provisions of subsection (a) of
31 this Section or any other law, bonds in not to exceed an
32 aggregate amount of 25% of the equalized assessed value of the
33 taxable property of a school district and issued by a school
34 district meeting the criteria in paragraphs (i) through (iv) of

 

 

09300HB0759sam001 - 11 - LRB093 05407 NHT 52077 a

1 this subsection shall not be considered indebtedness for
2 purposes of any statutory limitation and may be issued pursuant
3 to resolution of the school board in an amount or amounts,
4 including existing indebtedness, in excess of any statutory
5 limitation of indebtedness heretofore or hereafter imposed:
6         (i) The bonds are issued for the purpose of
7     constructing a new high school building to replace two
8     adjacent existing buildings which together house a single
9     high school, each of which is more than 65 years old, and
10     which together are located on more than 10 acres and less
11     than 11 acres of property.
12         (ii) At the time the resolution authorizing the
13     issuance of the bonds is adopted, the cost of constructing
14     a new school building to replace the existing school
15     building is less than 60% of the cost of repairing the
16     existing school building.
17         (iii) The sale of the bonds occurs before July 1, 1997.
18         (iv) The school district issuing the bonds is a unit
19     school district located in a county of less than 70,000 and
20     more than 50,000 inhabitants, which has an average daily
21     attendance of less than 1,500 and an equalized assessed
22     valuation of less than $29,000,000.
23     (h) Notwithstanding any other provisions of this Section or
24 the provisions of any other law, until January 1, 1998, a
25 community unit school district maintaining grades K through 12
26 may issue bonds up to an amount, including existing
27 indebtedness, not exceeding 27.6% of the equalized assessed
28 value of the taxable property in the district, if all of the
29 following conditions are met:
30         (i) The school district has an equalized assessed
31     valuation for calendar year 1995 of less than $24,000,000;
32         (ii) The bonds are issued for the capital improvement,
33     renovation, rehabilitation, or replacement of existing
34     school buildings of the district, all of which buildings

 

 

09300HB0759sam001 - 12 - LRB093 05407 NHT 52077 a

1     were originally constructed not less than 40 years ago;
2         (iii) The voters of the district approve a proposition
3     for the issuance of the bonds at a referendum held after
4     March 19, 1996; and
5         (iv) The bonds are issued pursuant to Sections 19-2
6     through 19-7 of this Code.
7     (i) Notwithstanding any other provisions of this Section or
8 the provisions of any other law, until January 1, 1998, a
9 community unit school district maintaining grades K through 12
10 may issue bonds up to an amount, including existing
11 indebtedness, not exceeding 27% of the equalized assessed value
12 of the taxable property in the district, if all of the
13 following conditions are met:
14         (i) The school district has an equalized assessed
15     valuation for calendar year 1995 of less than $44,600,000;
16         (ii) The bonds are issued for the capital improvement,
17     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

 

 

09300HB0759sam001 - 13 - LRB093 05407 NHT 52077 a

1     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

 

 

09300HB0759sam001 - 14 - LRB093 05407 NHT 52077 a

1     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

 

 

09300HB0759sam001 - 15 - LRB093 05407 NHT 52077 a

1 conditions are met:
2         (i) The school district has an equalized assessed
3     valuation for calendar year 1995 or less than $7,700,000;
4         (ii) The school district operates 2 elementary
5     attendance centers that until 1976 were operated as the
6     attendance centers of 2 separate and distinct school
7     districts;
8         (iii) The bonds are issued for the construction of a
9     new elementary school building to replace an existing
10     multi-level elementary school building of the school
11     district that is not 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

 

 

09300HB0759sam001 - 16 - LRB093 05407 NHT 52077 a

1     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

 

 

09300HB0759sam001 - 17 - LRB093 05407 NHT 52077 a

1 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

 

 

09300HB0759sam001 - 18 - LRB093 05407 NHT 52077 a

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.".