Sen. Pamela J. Althoff
Filed: 5/8/2007
 
 

 




 

 		












09500HB1969sam001

LRB095 11335 NHT 35151 a






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AMENDMENT TO HOUSE BILL 1969 




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    AMENDMENT NO. ______. Amend House Bill 1969 on page 24, 
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immediately below line 11, by inserting the following:

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    "(p-30) In addition to all other authority to issue bonds, 
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Prairie Grove Consolidated School District 46 may issue bonds 
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with an aggregate principal amount not to exceed $30,000,000, 
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but only if all of the following conditions are met:
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        (i) The voters of the district approve a proposition 
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    for the bond issuance at an election held in 2008.
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        (ii) At the time of the sale of the bonds, the school 
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    board determines, by resolution, that (A) the building and 
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    equipping of a new school building and additions to 
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    existing school buildings are required as a result of a 
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    projected increase in the enrollment of students in the 
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    district and (B) the altering, repairing, and equipping of 
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    existing school buildings are required because of the age 
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    of the existing school buildings.
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        (iii) The bonds are issued, in one or more bond 
 


 






09500HB1969sam001
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LRB095 11335 NHT 35151 a




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    issuances, on or before December 31, 2012; however, the 
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    aggregate principal amount issued in all such bond 
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    issuances combined must not exceed $30,000,000.
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        (iv) The bonds are issued in accordance with this 
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    Article.
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        (v) The proceeds of the bonds are used to accomplish 
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    only those projects approved by the voters at an election 
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    held in 2008.
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    The debt incurred on any bonds issued under this subsection 
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(p-30) shall not be considered indebtedness for purposes of any 
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statutory debt limitation.".