Sen. Jeffrey M. Schoenberg

Filed: 4/6/2006

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 668

2     AMENDMENT NO. ______. Amend Senate Bill 668     
3     By replacing everything after the enacting clause with the
4 following:
 
5
"Article 1.

 
6     Section 5. The General Obligation Bond Act is amended by
7 changing Section 5 as follows:
 
8     (30 ILCS 330/5)  (from Ch. 127, par. 655)
9     Sec. 5. School Construction.
10     (a) The amount of $58,450,000 is authorized to make grants
11 to local school districts for the acquisition, development,
12 construction, reconstruction, rehabilitation, improvement,
13 financing, architectural planning and installation of capital
14 facilities, including but not limited to those required for
15 special education building projects provided for in Article 14
16 of The School Code, consisting of buildings, structures, and
17 durable equipment, and for the acquisition and improvement of
18 real property and interests in real property required, or
19 expected to be required, in connection therewith.
20     (b) $22,550,000, or so much thereof as may be necessary,
21 for grants to school districts for the making of principal and
22 interest payments, required to be made, on bonds issued by such
23 school districts after January 1, 1969, pursuant to any

 

 

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1 indenture, ordinance, resolution, agreement or contract to
2 provide funds for the acquisition, development, construction,
3 reconstruction, rehabilitation, improvement, architectural
4 planning and installation of capital facilities consisting of
5 buildings, structures, durable equipment and land for
6 educational purposes or for lease payments required to be made
7 by a school district for principal and interest payments on
8 bonds issued by a Public Building Commission after January 1,
9 1969.
10     (c) $10,000,000 for grants to school districts for the
11 acquisition, development, construction, reconstruction,
12 rehabilitation, improvement, architectural planning and
13 installation of capital facilities consisting of buildings
14 structures, durable equipment and land for special education
15 building projects.
16     (d) $9,000,000 for grants to school districts for the
17 reconstruction, rehabilitation, improvement, financing and
18 architectural planning of capital facilities, including
19 construction at another location to replace such capital
20 facilities, consisting of those public school buildings and
21 temporary school facilities which, prior to January 1, 1984,
22 were condemned by the regional superintendent under Section
23 3-14.22 of The School Code or by any State official having
24 jurisdiction over building safety.
25     (e) $4,050,000,000 $3,050,000,000 for grants to school
26 districts for school improvement projects authorized by the
27 School Construction Law. The bonds shall be sold in amounts not
28 to exceed the following schedule, except any bonds not sold
29 during one year shall be added to the bonds to be sold during
30 the remainder of the schedule:
31     First year..................................$200,000,000
32     Second year.................................$450,000,000
33     Third year..................................$500,000,000
34     Fourth year.................................$500,000,000

 

 

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1     Fifth year..................................$800,000,000
2     Sixth year and thereafter....................$600,000,000
3     Seventh year and thereafter...............$1,000,000,000
4 (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
 
5     Section 99. Effective date. This Act takes effect upon
6 becoming law.".