Full Text of SB0668 94th General Assembly
SB0668sam001 94TH GENERAL ASSEMBLY
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Sen. Jeffrey M. Schoenberg
Filed: 4/6/2006
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| AMENDMENT TO SENATE BILL 668
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| AMENDMENT NO. ______. Amend Senate Bill 668 | 3 |
| By replacing everything after the enacting clause with the | 4 |
| following:
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| "Article 1. | 6 |
| Section 5. The General Obligation Bond Act is amended by | 7 |
| changing Section 5 as follows:
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| (30 ILCS 330/5) (from Ch. 127, par. 655)
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| Sec. 5. School Construction.
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| (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.
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| (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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| indenture, ordinance, resolution, agreement or contract
to | 2 |
| provide funds for the acquisition, development, construction,
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| 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
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| by a school district for principal and interest payments on | 8 |
| bonds issued
by a Public Building Commission after January 1, | 9 |
| 1969.
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| (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
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| structures, durable equipment and land for special education | 15 |
| building projects.
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| (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
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| 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.
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| (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:
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| First year ..................................$200,000,000
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| Second year .................................$450,000,000
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| Third year ..................................$500,000,000
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| Fourth year .................................$500,000,000
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| Fifth year ..................................$800,000,000
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| Sixth year and thereafter ....................$600,000,000 | 3 |
| Seventh year and thereafter ...............$1,000,000,000
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| (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
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| Section 99. Effective date. This Act takes effect upon | 6 |
| becoming law.".
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