Sen. Sue Rezin

Filed: 4/13/2016

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 3050

2    AMENDMENT NO. ______. Amend Senate Bill 3050 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The School Code is amended by changing Section
519-1 as follows:
 
6    (105 ILCS 5/19-1)
7    Sec. 19-1. Debt limitations of school districts.
8    (a) School districts shall not be subject to the provisions
9limiting their indebtedness prescribed in the Local Government
10Debt Limitation Act "An Act to limit the indebtedness of
11counties having a population of less than 500,000 and
12townships, school districts and other municipal corporations
13having a population of less than 300,000", approved February
1415, 1928, as amended.
15    No school districts maintaining grades K through 8 or 9
16through 12 shall become indebted in any manner or for any

 

 

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1purpose to an amount, including existing indebtedness, in the
2aggregate exceeding 6.9% on the value of the taxable property
3therein to be ascertained by the last assessment for State and
4county taxes or, until January 1, 1983, if greater, the sum
5that is produced by multiplying the school district's 1978
6equalized assessed valuation by the debt limitation percentage
7in effect on January 1, 1979, previous to the incurring of such
8indebtedness.
9    No school districts maintaining grades K through 12 shall
10become indebted in any manner or for any purpose to an amount,
11including existing indebtedness, in the aggregate exceeding
1213.8% on the value of the taxable property therein to be
13ascertained by the last assessment for State and county taxes
14or, until January 1, 1983, if greater, the sum that is produced
15by multiplying the school district's 1978 equalized assessed
16valuation by the debt limitation percentage in effect on
17January 1, 1979, previous to the incurring of such
18indebtedness.
19    No partial elementary unit district, as defined in Article
2011E of this Code, shall become indebted in any manner or for
21any purpose in an amount, including existing indebtedness, in
22the aggregate exceeding 6.9% of the value of the taxable
23property of the entire district, to be ascertained by the last
24assessment for State and county taxes, plus an amount,
25including existing indebtedness, in the aggregate exceeding
266.9% of the value of the taxable property of that portion of

 

 

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1the district included in the elementary and high school
2classification, to be ascertained by the last assessment for
3State and county taxes. Moreover, no partial elementary unit
4district, as defined in Article 11E of this Code, shall become
5indebted on account of bonds issued by the district for high
6school purposes in the aggregate exceeding 6.9% of the value of
7the taxable property of the entire district, to be ascertained
8by the last assessment for State and county taxes, nor shall
9the district become indebted on account of bonds issued by the
10district for elementary purposes in the aggregate exceeding
116.9% of the value of the taxable property for that portion of
12the district included in the elementary and high school
13classification, to be ascertained by the last assessment for
14State and county taxes.
15    Notwithstanding the provisions of any other law to the
16contrary, in any case in which the voters of a school district
17have approved a proposition for the issuance of bonds of such
18school district at an election held prior to January 1, 1979,
19and all of the bonds approved at such election have not been
20issued, the debt limitation applicable to such school district
21during the calendar year 1979 shall be computed by multiplying
22the value of taxable property therein, including personal
23property, as ascertained by the last assessment for State and
24county taxes, previous to the incurring of such indebtedness,
25by the percentage limitation applicable to such school district
26under the provisions of this subsection (a).

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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1    resolution that the projected increases in enrollment are
2    the result of improvements made or expected to be made to
3    passenger rail facilities located in the school district.
4    Notwithstanding the provisions of subsection (a) of this
5Section or of any other law, a school district that has availed
6itself of the provisions of this subsection (f) prior to July
722, 2004 (the effective date of Public Act 93-799) may also
8issue bonds approved by referendum up to an amount, including
9existing indebtedness, not exceeding 25% of the equalized
10assessed value of the taxable property in the district if all
11of the conditions set forth in items (1), (2), and (3) of this
12subsection (f) are met.
13    (g) Notwithstanding the provisions of subsection (a) of
14this Section or any other law, bonds in not to exceed an
15aggregate amount of 25% of the equalized assessed value of the
16taxable property of a school district and issued by a school
17district meeting the criteria in paragraphs (i) through (iv) of
18this subsection shall not be considered indebtedness for
19purposes of any statutory limitation and may be issued pursuant
20to resolution of the school board in an amount or amounts,
21including existing indebtedness, in excess of any statutory
22limitation of indebtedness heretofore or hereafter imposed:
23        (i) The bonds are issued for the purpose of
24    constructing a new high school building to replace two
25    adjacent existing buildings which together house a single
26    high school, each of which is more than 65 years old, and

 

 

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

 

 

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

 

 

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

 

 

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1indebtedness in an amount not to exceed $4,000,000 even though
2the amount of the additional indebtedness authorized by this
3subsection (k), when incurred and added to the aggregate amount
4of indebtedness of the school district existing immediately
5prior to the school district incurring such additional
6indebtedness, causes the aggregate indebtedness of the school
7district to exceed or increases the amount by which the
8aggregate indebtedness of the district already exceeds the debt
9limitation otherwise applicable to that school district under
10subsection (a):
11        (1) the school district is located in 2 counties, and a
12    referendum to authorize the additional indebtedness was
13    approved by a majority of the voters of the school district
14    voting on the proposition to authorize that indebtedness;
15        (2) the additional indebtedness is for the purpose of
16    financing a multi-purpose room addition to the existing
17    high school;
18        (3) the additional indebtedness, together with the
19    existing indebtedness of the school district, shall not
20    exceed 17.4% of the value of the taxable property in the
21    school district, to be ascertained by the last assessment
22    for State and county taxes; and
23        (4) the bonds evidencing the additional indebtedness
24    are issued, if at all, within 120 days of August 14, 1998
25    (the effective date of Public Act 90-757) this amendatory
26    Act of 1998.

 

 

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

 

 

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1    valuation for calendar year 1995 or less than $7,700,000;
2        (ii) The school district operates 2 elementary
3    attendance centers that until 1976 were operated as the
4    attendance centers of 2 separate and distinct school
5    districts;
6        (iii) The bonds are issued for the construction of a
7    new elementary school building to replace an existing
8    multi-level elementary school building of the school
9    district that is not accessible at all levels and parts of
10    which were constructed more than 75 years ago;
11        (iv) The voters of the school district approve a
12    proposition for the issuance of the bonds at a referendum
13    held after July 1, 1998; and
14        (v) The bonds are issued pursuant to Sections 19-2
15    through 19-7 of this Code.
16    (n) Notwithstanding the debt limitation prescribed in
17subsection (a) of this Section or any other provisions of this
18Section or of any other law, a school district that meets all
19of the criteria set forth in paragraphs (i) through (vi) of
20this subsection (n) may incur additional indebtedness by the
21issuance of bonds in an amount not exceeding the amount
22certified by the Capital Development Board to the school
23district as provided in paragraph (iii) of this subsection (n),
24even though the amount of the additional indebtedness so
25authorized, when incurred and added to the aggregate amount of
26indebtedness of the district existing immediately prior to the

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

09900SB3050sam001- 22 -LRB099 20698 NHT 47474 a

1    on or before November 7, 2011, but the aggregate principal
2    amount issued in all such bond issues combined must not
3    exceed $450,000,000.
4        (iv) The bonds are issued in accordance with this
5    Article 19.
6        (v) The proceeds of the bonds are used only to
7    accomplish those projects approved by the voters at the
8    general election held on November 7, 2006.
9The debt incurred on any bonds issued under this subsection
10(p-15) shall not be considered indebtedness for purposes of any
11statutory debt limitation.
12    (p-20) In addition to all other authority to issue bonds,
13the Lincoln-Way Community High School District Number 210 may
14issue bonds with an aggregate principal amount not to exceed
15$225,000,000, but only if all of the following conditions are
16met:
17        (i) The voters of the district have approved a
18    proposition for the bond issue at the general primary
19    election held on March 21, 2006.
20        (ii) At the time of the sale of the bonds, the school
21    board determines, by resolution, that: (A) the building and
22    equipping of the new high school buildings, the altering,
23    repairing, and equipping of existing school buildings, and
24    the improvement of school sites, as the case may be, are
25    required as a result of a projected increase in the
26    enrollment of students in the district; and (B) the sale of

 

 

09900SB3050sam001- 23 -LRB099 20698 NHT 47474 a

1    bonds for these purposes is authorized by legislation that
2    exempts the debt incurred on the bonds from the district's
3    statutory debt limitation.
4        (iii) The bonds are issued, in one or more bond issues,
5    on or before March 21, 2011, but the aggregate principal
6    amount issued in all such bond issues combined must not
7    exceed $225,000,000.
8        (iv) The bonds are issued in accordance with this
9    Article 19.
10        (v) The proceeds of the bonds are used only to
11    accomplish those projects approved by the voters at the
12    primary election held on March 21, 2006.
13The debt incurred on any bonds issued under this subsection
14(p-20) shall not be considered indebtedness for purposes of any
15statutory debt limitation.
16    (p-25) In addition to all other authority to issue bonds,
17Rochester Community Unit School District 3A may issue bonds
18with an aggregate principal amount not to exceed $18,500,000,
19but only if all of the following conditions are met:
20        (i) The voters of the district approve a proposition
21    for the bond issuance at the general primary election held
22    in 2008.
23        (ii) At the time of the sale of the bonds, the school
24    board determines, by resolution, that: (A) the building and
25    equipping of a new high school building; the addition of
26    classrooms and support facilities at the high school,

 

 

09900SB3050sam001- 24 -LRB099 20698 NHT 47474 a

1    middle school, and elementary school; the altering,
2    repairing, and equipping of existing school buildings; and
3    the improvement of school sites, as the case may be, are
4    required as a result of a projected increase in the
5    enrollment of students in the district; and (B) the sale of
6    bonds for these purposes is authorized by a law that
7    exempts the debt incurred on the bonds from the district's
8    statutory debt limitation.
9        (iii) The bonds are issued, in one or more bond issues,
10    on or before December 31, 2012, but the aggregate principal
11    amount issued in all such bond issues combined must not
12    exceed $18,500,000.
13        (iv) The bonds are issued in accordance with this
14    Article 19.
15        (v) The proceeds of the bonds are used to accomplish
16    only those projects approved by the voters at the primary
17    election held in 2008.
18The debt incurred on any bonds issued under this subsection
19(p-25) shall not be considered indebtedness for purposes of any
20statutory debt limitation.
21    (p-30) In addition to all other authority to issue bonds,
22Prairie Grove Consolidated School District 46 may issue bonds
23with an aggregate principal amount not to exceed $30,000,000,
24but only if all of the following conditions are met:
25        (i) The voters of the district approve a proposition
26    for the bond issuance at an election held in 2008.

 

 

09900SB3050sam001- 25 -LRB099 20698 NHT 47474 a

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

 

 

09900SB3050sam001- 26 -LRB099 20698 NHT 47474 a

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

 

 

09900SB3050sam001- 27 -LRB099 20698 NHT 47474 a

1        (1) The voters of the district approve a proposition
2    for the bond issuance at a regular election held on or
3    after November 4, 2008.
4        (2) At the time of the sale of the bonds, the school
5    board determines, by resolution, that (i) the building and
6    equipping of a new high school building is required as a
7    result of a projected increase in the enrollment of
8    students in the district and the age and condition of the
9    existing high school building, (ii) the existing high
10    school building will be demolished, and (iii) the sale of
11    bonds is authorized by statute that exempts the debt
12    incurred on the bonds from the district's statutory debt
13    limitation.
14        (3) The bonds are issued, in one or more bond
15    issuances, on or before December 31, 2011, but the
16    aggregate principal amount issued in all such bond
17    issuances combined must not exceed $55,000,000.
18        (4) The bonds are issued in accordance with this
19    Article.
20        (5) The proceeds of the bonds are used to accomplish
21    only those projects approved by the voters at a regular
22    election held on or after November 4, 2008.
23    The debt incurred on any bonds issued under this subsection
24(p-40) shall not be considered indebtedness for purposes of any
25statutory debt limitation.
26    (p-45) Notwithstanding the provisions of subsection (a) of

 

 

09900SB3050sam001- 28 -LRB099 20698 NHT 47474 a

1this Section or of any other law, bonds issued pursuant to
2Section 19-3.5 of this Code shall not be considered
3indebtedness for purposes of any statutory limitation if the
4bonds are issued in an amount or amounts, including existing
5indebtedness of the school district, not in excess of 18.5% of
6the value of the taxable property in the district to be
7ascertained by the last assessment for State and county taxes.
8    (p-50) Notwithstanding the provisions of subsection (a) of
9this Section or of any other law, bonds issued pursuant to
10Section 19-3.10 of this Code shall not be considered
11indebtedness for purposes of any statutory limitation if the
12bonds are issued in an amount or amounts, including existing
13indebtedness of the school district, not in excess of 43% of
14the value of the taxable property in the district to be
15ascertained by the last assessment for State and county taxes.
16    (p-55) In addition to all other authority to issue bonds,
17Belle Valley School District 119 may issue bonds with an
18aggregate principal amount not to exceed $47,500,000, but only
19if all of the following conditions are met:
20        (1) The voters of the district approve a proposition
21    for the bond issuance at an election held on or after April
22    7, 2009.
23        (2) Prior to the issuance of the bonds, the school
24    board determines, by resolution, that (i) the building and
25    equipping of a new school building is required as a result
26    of mine subsidence in an existing school building and

 

 

09900SB3050sam001- 29 -LRB099 20698 NHT 47474 a

1    because of the age and condition of another existing school
2    building and (ii) the issuance of bonds is authorized by
3    statute that exempts the debt incurred on the bonds from
4    the district's statutory debt limitation.
5        (3) The bonds are issued, in one or more bond
6    issuances, on or before March 31, 2014, but the aggregate
7    principal amount issued in all such bond issuances combined
8    must not exceed $47,500,000.
9        (4) The bonds are issued in accordance with this
10    Article.
11        (5) The proceeds of the bonds are used to accomplish
12    only those projects approved by the voters at an election
13    held on or after April 7, 2009.
14    The debt incurred on any bonds issued under this subsection
15(p-55) shall not be considered indebtedness for purposes of any
16statutory debt limitation. Bonds issued under this subsection
17(p-55) must mature within not to exceed 30 years from their
18date, notwithstanding any other law to the contrary.
19    (p-60) In addition to all other authority to issue bonds,
20Wilmington Community Unit School District Number 209-U may
21issue bonds with an aggregate principal amount not to exceed
22$2,285,000, but only if all of the following conditions are
23met:
24        (1) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at the general
26    primary election held on March 21, 2006.

 

 

09900SB3050sam001- 30 -LRB099 20698 NHT 47474 a

1        (2) Prior to the issuance of the bonds, the school
2    board determines, by resolution, that (i) the projects
3    approved by the voters were and are required because of the
4    age and condition of the school district's prior and
5    existing school buildings and (ii) the issuance of the
6    bonds is authorized by legislation that exempts the debt
7    incurred on the bonds from the district's statutory debt
8    limitation.
9        (3) The bonds are issued in one or more bond issuances
10    on or before March 1, 2011, but the aggregate principal
11    amount issued in all those bond issuances combined must not
12    exceed $2,285,000.
13        (4) The bonds are issued in accordance with this
14    Article.
15    The debt incurred on any bonds issued under this subsection
16(p-60) shall not be considered indebtedness for purposes of any
17statutory debt limitation.
18    (p-65) In addition to all other authority to issue bonds,
19West Washington County Community Unit School District 10 may
20issue bonds with an aggregate principal amount not to exceed
21$32,200,000 and maturing over a period not exceeding 25 years,
22but only if all of the following conditions are met:
23        (1) The voters of the district approve a proposition
24    for the bond issuance at an election held on or after
25    February 2, 2010.
26        (2) Prior to the issuance of the bonds, the school

 

 

09900SB3050sam001- 31 -LRB099 20698 NHT 47474 a

1    board determines, by resolution, that (A) all or a portion
2    of the existing Okawville Junior/Senior High School
3    Building will be demolished; (B) the building and equipping
4    of a new school building to be attached to and the
5    alteration, repair, and equipping of the remaining portion
6    of the Okawville Junior/Senior High School Building is
7    required because of the age and current condition of that
8    school building; and (C) the issuance of bonds is
9    authorized by a statute that exempts the debt incurred on
10    the bonds from the district's statutory debt limitation.
11        (3) The bonds are issued, in one or more bond
12    issuances, on or before March 31, 2014, but the aggregate
13    principal amount issued in all such bond issuances combined
14    must not exceed $32,200,000.
15        (4) The bonds are issued in accordance with this
16    Article.
17        (5) The proceeds of the bonds are used to accomplish
18    only those projects approved by the voters at an election
19    held on or after February 2, 2010.
20    The debt incurred on any bonds issued under this subsection
21(p-65) shall not be considered indebtedness for purposes of any
22statutory debt limitation.
23    (p-70) In addition to all other authority to issue bonds,
24Cahokia Community Unit School District 187 may issue bonds with
25an aggregate principal amount not to exceed $50,000,000, but
26only if all the following conditions are met:

 

 

09900SB3050sam001- 32 -LRB099 20698 NHT 47474 a

1        (1) The voters of the district approve a proposition
2    for the bond issuance at an election held on or after
3    November 2, 2010.
4        (2) Prior to the issuance of the bonds, the school
5    board determines, by resolution, that (i) the building and
6    equipping of a new school building is required as a result
7    of the age and condition of an existing school building and
8    (ii) the issuance of bonds is authorized by a statute that
9    exempts the debt incurred on the bonds from the district's
10    statutory debt limitation.
11        (3) The bonds are issued, in one or more issuances, on
12    or before July 1, 2016, but the aggregate principal amount
13    issued in all such bond issuances combined must not exceed
14    $50,000,000.
15        (4) The bonds are issued in accordance with this
16    Article.
17        (5) The proceeds of the bonds are used to accomplish
18    only those projects approved by the voters at an election
19    held on or after November 2, 2010.
20    The debt incurred on any bonds issued under this subsection
21(p-70) shall not be considered indebtedness for purposes of any
22statutory debt limitation. Bonds issued under this subsection
23(p-70) must mature within not to exceed 25 years from their
24date, notwithstanding any other law, including Section 19-3 of
25this Code, to the contrary.
26    (p-75) Notwithstanding the debt limitation prescribed in

 

 

09900SB3050sam001- 33 -LRB099 20698 NHT 47474 a

1subsection (a) of this Section or any other provisions of this
2Section or of any other law, the execution of leases on or
3after January 1, 2007 and before July 1, 2011 by the Board of
4Education of Peoria School District 150 with a public building
5commission for leases entered into pursuant to the Public
6Building Commission Act shall not be considered indebtedness
7for purposes of any statutory debt limitation.
8    This subsection (p-75) applies only if the State Board of
9Education or the Capital Development Board makes one or more
10grants to Peoria School District 150 pursuant to the School
11Construction Law. The amount exempted from the debt limitation
12as prescribed in this subsection (p-75) shall be no greater
13than the amount of one or more grants awarded to Peoria School
14District 150 by the State Board of Education or the Capital
15Development Board.
16    (p-80) In addition to all other authority to issue bonds,
17Ridgeland School District 122 may issue bonds with an aggregate
18principal amount not to exceed $50,000,000 for the purpose of
19refunding or continuing to refund bonds originally issued
20pursuant to voter approval at the general election held on
21November 7, 2000, and the debt incurred on any bonds issued
22under this subsection (p-80) shall not be considered
23indebtedness for purposes of any statutory debt limitation.
24Bonds issued under this subsection (p-80) may be issued in one
25or more issuances and must mature within not to exceed 25 years
26from their date, notwithstanding any other law, including

 

 

09900SB3050sam001- 34 -LRB099 20698 NHT 47474 a

1Section 19-3 of this Code, to the contrary.
2    (p-85) In addition to all other authority to issue bonds,
3Hall High School District 502 may issue bonds with an aggregate
4principal amount not to exceed $32,000,000, but only if all the
5following conditions are met:
6        (1) The voters of the district approve a proposition
7    for the bond issuance at an election held on or after April
8    9, 2013.
9        (2) Prior to the issuance of the bonds, the school
10    board determines, by resolution, that (i) the building and
11    equipping of a new school building is required as a result
12    of the age and condition of an existing school building,
13    (ii) the existing school building should be demolished in
14    its entirety or the existing school building should be
15    demolished except for the 1914 west wing of the building,
16    and (iii) the issuance of bonds is authorized by a statute
17    that exempts the debt incurred on the bonds from the
18    district's statutory debt limitation.
19        (3) The bonds are issued, in one or more issuances, not
20    later than 5 years after the date of the referendum
21    approving the issuance of the bonds, but the aggregate
22    principal amount issued in all such bond issuances combined
23    must not exceed $32,000,000.
24        (4) The bonds are issued in accordance with this
25    Article.
26        (5) The proceeds of the bonds are used to accomplish

 

 

09900SB3050sam001- 35 -LRB099 20698 NHT 47474 a

1    only those projects approved by the voters at an election
2    held on or after April 9, 2013.
3    The debt incurred on any bonds issued under this subsection
4(p-85) shall not be considered indebtedness for purposes of any
5statutory debt limitation. Bonds issued under this subsection
6(p-85) must mature within not to exceed 30 years from their
7date, notwithstanding any other law, including Section 19-3 of
8this Code, to the contrary.
9    (p-90) In addition to all other authority to issue bonds,
10Lebanon Community Unit School District 9 may issue bonds with
11an aggregate principal amount not to exceed $7,500,000, but
12only if all of the following conditions are met:
13        (1) The voters of the district approved a proposition
14    for the bond issuance at the general primary election on
15    February 2, 2010.
16        (2) At or prior to the time of the sale of the bonds,
17    the school board determines, by resolution, that (i) the
18    building and equipping of a new elementary school building
19    is required as a result of a projected increase in the
20    enrollment of students in the district and the age and
21    condition of the existing Lebanon Elementary School
22    building, (ii) a portion of the existing Lebanon Elementary
23    School building will be demolished and the remaining
24    portion will be altered, repaired, and equipped, and (iii)
25    the sale of bonds is authorized by a statute that exempts
26    the debt incurred on the bonds from the district's

 

 

09900SB3050sam001- 36 -LRB099 20698 NHT 47474 a

1    statutory debt limitation.
2        (3) The bonds are issued, in one or more bond
3    issuances, on or before April 1, 2014, but the aggregate
4    principal amount issued in all such bond issuances combined
5    must not exceed $7,500,000.
6        (4) The bonds are issued in accordance with this
7    Article.
8        (5) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at the general
10    primary election held on February 2, 2010.
11    The debt incurred on any bonds issued under this subsection
12(p-90) shall not be considered indebtedness for purposes of any
13statutory debt limitation.
14    (p-95) In addition to all other authority to issue bonds,
15Monticello Community Unit School District 25 may issue bonds
16with an aggregate principal amount not to exceed $35,000,000,
17but only if all of the following conditions are met:
18        (1) The voters of the district approve a proposition
19    for the bond issuance at an election held on or after
20    November 4, 2014.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the building and
23    equipping of a new school building is required as a result
24    of the age and condition of an existing school building and
25    (ii) the issuance of bonds is authorized by a statute that
26    exempts the debt incurred on the bonds from the district's

 

 

09900SB3050sam001- 37 -LRB099 20698 NHT 47474 a

1    statutory debt limitation.
2        (3) The bonds are issued, in one or more issuances, on
3    or before July 1, 2020, but the aggregate principal amount
4    issued in all such bond issuances combined must not exceed
5    $35,000,000.
6        (4) The bonds are issued in accordance with this
7    Article.
8        (5) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at an election
10    held on or after November 4, 2014.
11    The debt incurred on any bonds issued under this subsection
12(p-95) shall not be considered indebtedness for purposes of any
13statutory debt limitation. Bonds issued under this subsection
14(p-95) must mature within not to exceed 25 years from their
15date, notwithstanding any other law, including Section 19-3 of
16this Code, to the contrary.
17    (p-100) In addition to all other authority to issue bonds,
18the community unit school district created in the territory
19comprising Milford Community Consolidated School District 280
20and Milford Township High School District 233, as approved at
21the general primary election held on March 18, 2014, may issue
22bonds with an aggregate principal amount not to exceed
23$17,500,000, but only if all the following conditions are met:
24        (1) The voters of the district approve a proposition
25    for the bond issuance at an election held on or after
26    November 4, 2014.

 

 

09900SB3050sam001- 38 -LRB099 20698 NHT 47474 a

1        (2) Prior to the issuance of the bonds, the school
2    board determines, by resolution, that (i) the building and
3    equipping of a new school building is required as a result
4    of the age and condition of an existing school building and
5    (ii) the issuance of bonds is authorized by a statute that
6    exempts the debt incurred on the bonds from the district's
7    statutory debt limitation.
8        (3) The bonds are issued, in one or more issuances, on
9    or before July 1, 2020, but the aggregate principal amount
10    issued in all such bond issuances combined must not exceed
11    $17,500,000.
12        (4) The bonds are issued in accordance with this
13    Article.
14        (5) The proceeds of the bonds are used to accomplish
15    only those projects approved by the voters at an election
16    held on or after November 4, 2014.
17    The debt incurred on any bonds issued under this subsection
18(p-100) shall not be considered indebtedness for purposes of
19any statutory debt limitation. Bonds issued under this
20subsection (p-100) must mature within not to exceed 25 years
21from their date, notwithstanding any other law, including
22Section 19-3 of this Code, to the contrary.
23    (p-105) In addition to all other authority to issue bonds,
24North Shore School District 112 may issue bonds with an
25aggregate principal amount not to exceed $150,000,000, but only
26if all of the following conditions are met:

 

 

09900SB3050sam001- 39 -LRB099 20698 NHT 47474 a

1        (1) The voters of the district approve a proposition
2    for the bond issuance at an election held on or after March
3    15, 2016.
4        (2) Prior to the issuance of the bonds, the school
5    board determines, by resolution, that (i) the building and
6    equipping of new buildings and improving the sites thereof
7    and the building and equipping of additions to, altering,
8    repairing, equipping, and renovating existing buildings
9    and improving the sites thereof are required as a result of
10    the age and condition of the district's existing buildings
11    and (ii) the issuance of bonds is authorized by a statute
12    that exempts the debt incurred on the bonds from the
13    district's statutory debt limitation.
14        (3) The bonds are issued, in one or more issuances, not
15    later than 5 years after the date of the referendum
16    approving the issuance of the bonds, but the aggregate
17    principal amount issued in all such bond issuances combined
18    must not exceed $150,000,000.
19        (4) The bonds are issued in accordance with this
20    Article.
21        (5) The proceeds of the bonds are used to accomplish
22    only those projects approved by the voters at an election
23    held on or after March 15, 2016.
24    The debt incurred on any bonds issued under this subsection
25(p-105) and on any bonds issued to refund or continue to refund
26such bonds shall not be considered indebtedness for purposes of

 

 

09900SB3050sam001- 40 -LRB099 20698 NHT 47474 a

1any statutory debt limitation. Bonds issued under this
2subsection (p-105) and any bonds issued to refund or continue
3to refund such bonds must mature within not to exceed 30 years
4from their date, notwithstanding any other law, including
5Section 19-3 of this Code, to the contrary.
6    (p-110) In addition to all other authority to issue bonds,
7Sandoval Community Unit School District 501 may issue bonds
8with an aggregate principal amount not to exceed $2,000,000,
9but only if all of the following conditions are met:
10        (1) The voters of the district approved a proposition
11    for the bond issuance at an election held on March 20,
12    2012.
13        (2) Prior to the issuance of the bonds, the school
14    board determines, by resolution, that (i) the building and
15    equipping of a new school building is required because of
16    the age and current condition of the Sandoval Elementary
17    School building and (ii) the issuance of bonds is
18    authorized by a statute that exempts the debt incurred on
19    the bonds from the district's statutory debt limitation.
20        (3) The bonds are issued, in one or more bond
21    issuances, on or before March 19, 2017, but the aggregate
22    principal amount issued in all such bond issuances combined
23    must not exceed $2,000,000.
24        (4) The bonds are issued in accordance with this
25    Article.
26        (5) The proceeds of the bonds are used to accomplish

 

 

09900SB3050sam001- 41 -LRB099 20698 NHT 47474 a

1    only those projects approved by the voters at the election
2    held on March 20, 2012.
3    The debt incurred on any bonds issued under this subsection
4(p-110) shall not be considered indebtedness for purposes of
5any statutory debt limitation.
6    (p-115) In addition to all other authority to issue bonds,
7LaSalle-Peru Township High School District 120 may issue bonds
8with an aggregate principal amount not to exceed $67,000,000,
9but only if all the following conditions are met:
10        (1) The voters of the district approve a proposition
11    for the bond issuance at an election held on February 28,
12    2017.
13        (2) Prior to the issuance of the bonds, the school
14    board determines, by resolution, that (i) the building and
15    equipping of a new school building is required as a result
16    of the age and condition of an existing school building,
17    (ii) a portion of the existing school building should be
18    demolished in its entirety and the remaining portion should
19    be altered, repaired, and equipped, and (iii) the issuance
20    of bonds is authorized by a statute that exempts the debt
21    incurred on the bonds from the district's statutory debt
22    limitation.
23        (3) The bonds are issued, in one or more issuances, not
24    later than 5 years after the date of the referendum
25    approving the issuance of the bonds, but the aggregate
26    principal amount issued in all such bond issuances combined

 

 

09900SB3050sam001- 42 -LRB099 20698 NHT 47474 a

1    must not exceed $67,000,000.
2        (4) The bonds are issued in accordance with this
3    Article.
4        (5) The proceeds of the bonds are used to accomplish
5    only those projects approved by the voters at an election
6    held on February 28, 2017.
7    The debt incurred on any bonds issued under this subsection
8(p-115) shall not be considered indebtedness for purposes of
9any statutory debt limitation. Bonds issued under this
10subsection (p-115) must mature within not to exceed 30 years
11from their date, notwithstanding any other law, including
12Section 19-3 of this Code, to the contrary.
13    (q) A school district must notify the State Board of
14Education prior to issuing any form of long-term or short-term
15debt that will result in outstanding debt that exceeds 75% of
16the debt limit specified in this Section or any other provision
17of law.
18(Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14;
1998-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff.
207-27-15; 99-390, eff. 8-18-15; revised 10-13-15.)".