Illinois General Assembly - Full Text of SB2469
Illinois General Assembly

Previous General Assemblies

Full Text of SB2469  99th General Assembly

SB2469ham002 99TH GENERAL ASSEMBLY

Rep. Linda Chapa LaVia

Filed: 5/29/2016

 

 


 

 


 
09900SB2469ham002LRB099 18264 AWJ 48969 a

1
AMENDMENT TO SENATE BILL 2469

2    AMENDMENT NO. ______. Amend Senate Bill 2469, AS AMENDED,
3by replacing everything after the enacting clause with the
4following:
 
5    "Section 5. The Illinois Local Library Act is amended by
6adding Section 5-2.5 as follows:
 
7    (75 ILCS 5/5-2.5 new)
8    Sec. 5-2.5. Bonds as indebtedness. Notwithstanding any
9provision of law to the contrary:
10    (a) Any bonds issued under Section 5-2 of this Act shall
11not be considered indebtedness under any law including, but not
12limited to, Section 8-5-1 of the Illinois Municipal Code, and
13such bonds may be issued, regardless of any limitations on
14indebtedness in law, if the conditions of subsection (b) are
15met.
16    (b) Bonds shall not be considered indebtedness and may be

 

 

09900SB2469ham002- 2 -LRB099 18264 AWJ 48969 a

1issued regardless of any limitations on indebtedness under
2subsection (a) if:
3        (1) the bond or bonds are issued after approval by
4    voters at a regularly scheduled election;
5        (2) the bond or bonds do not exceed a principal amount
6    of $11,000,000 in the aggregate;
7        (3) on or before the date of sale of the bond or bonds,
8    the board of trustees of the public library and the
9    corporate authorities determine, by ordinance or
10    resolution, that the library project funded by the bond or
11    bonds is needed; and
12        (4) the bond or bonds are issued prior to November 1,
13    2020.
 
14    Section 10. The School Code is amended by changing Sections
1519-1 and 19-3 as follows:
 
16    (105 ILCS 5/19-1)
17    Sec. 19-1. Debt limitations of school districts.
18    (a) School districts shall not be subject to the provisions
19limiting their indebtedness prescribed in the Local Government
20Debt Limitation Act "An Act to limit the indebtedness of
21counties having a population of less than 500,000 and
22townships, school districts and other municipal corporations
23having a population of less than 300,000", approved February
2415, 1928, as amended.

 

 

09900SB2469ham002- 3 -LRB099 18264 AWJ 48969 a

1    No school districts maintaining grades K through 8 or 9
2through 12 shall become indebted in any manner or for any
3purpose to an amount, including existing indebtedness, in the
4aggregate exceeding 6.9% on the value of the taxable property
5therein to be ascertained by the last assessment for State and
6county taxes or, until January 1, 1983, if greater, the sum
7that is produced by multiplying the school district's 1978
8equalized assessed valuation by the debt limitation percentage
9in effect on January 1, 1979, previous to the incurring of such
10indebtedness.
11    No school districts maintaining grades K through 12 shall
12become indebted in any manner or for any purpose to an amount,
13including existing indebtedness, in the aggregate exceeding
1413.8% on the value of the taxable property therein to be
15ascertained by the last assessment for State and county taxes
16or, until January 1, 1983, if greater, the sum that is produced
17by multiplying the school district's 1978 equalized assessed
18valuation by the debt limitation percentage in effect on
19January 1, 1979, previous to the incurring of such
20indebtedness.
21    No partial elementary unit district, as defined in Article
2211E of this Code, shall become indebted in any manner or for
23any purpose in an amount, including existing indebtedness, in
24the aggregate exceeding 6.9% of the value of the taxable
25property of the entire district, to be ascertained by the last
26assessment for State and county taxes, plus an amount,

 

 

09900SB2469ham002- 4 -LRB099 18264 AWJ 48969 a

1including existing indebtedness, in the aggregate exceeding
26.9% of the value of the taxable property of that portion of
3the district included in the elementary and high school
4classification, to be ascertained by the last assessment for
5State and county taxes. Moreover, no partial elementary unit
6district, as defined in Article 11E of this Code, shall become
7indebted on account of bonds issued by the district for high
8school purposes in the aggregate exceeding 6.9% of the value of
9the taxable property of the entire district, to be ascertained
10by the last assessment for State and county taxes, nor shall
11the district become indebted on account of bonds issued by the
12district for elementary purposes in the aggregate exceeding
136.9% of the value of the taxable property for that portion of
14the district included in the elementary and high school
15classification, to be ascertained by the last assessment for
16State and county taxes.
17    Notwithstanding the provisions of any other law to the
18contrary, in any case in which the voters of a school district
19have approved a proposition for the issuance of bonds of such
20school district at an election held prior to January 1, 1979,
21and all of the bonds approved at such election have not been
22issued, the debt limitation applicable to such school district
23during the calendar year 1979 shall be computed by multiplying
24the value of taxable property therein, including personal
25property, as ascertained by the last assessment for State and
26county taxes, previous to the incurring of such indebtedness,

 

 

09900SB2469ham002- 5 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 6 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 7 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 8 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 9 -LRB099 18264 AWJ 48969 a

1    existing school building that, because of mine subsidence
2    damage, is closed as of the end of the 1992-93 school year
3    pursuant to action of the regional superintendent of
4    schools of the educational service region in which the
5    district is located under Section 3-14.22 or are issued for
6    the purpose of increasing the size of, or providing for
7    additional functions in, the new school building being
8    constructed to replace a school building closed as the
9    result of mine subsidence damage, or both such purposes.
10    (e) (Blank).
11    (f) Notwithstanding the provisions of subsection (a) of
12this Section or of any other law, bonds in not to exceed the
13aggregate amount of $5,500,000 and issued by a school district
14meeting the following criteria shall not be considered
15indebtedness for purposes of any statutory limitation and may
16be issued in an amount or amounts, including existing
17indebtedness, in excess of any heretofore or hereafter imposed
18statutory limitation as to indebtedness:
19        (1) At the time of the sale of such bonds, the board of
20    education of the district shall have determined by
21    resolution that the enrollment of students in the district
22    is projected to increase by not less than 7% during each of
23    the next succeeding 2 school years.
24        (2) The board of education shall also determine by
25    resolution that the improvements to be financed with the
26    proceeds of the bonds are needed because of the projected

 

 

09900SB2469ham002- 10 -LRB099 18264 AWJ 48969 a

1    enrollment increases.
2        (3) The board of education shall also determine by
3    resolution that the projected increases in enrollment are
4    the result of improvements made or expected to be made to
5    passenger rail facilities located in the school district.
6    Notwithstanding the provisions of subsection (a) of this
7Section or of any other law, a school district that has availed
8itself of the provisions of this subsection (f) prior to July
922, 2004 (the effective date of Public Act 93-799) may also
10issue bonds approved by referendum up to an amount, including
11existing indebtedness, not exceeding 25% of the equalized
12assessed value of the taxable property in the district if all
13of the conditions set forth in items (1), (2), and (3) of this
14subsection (f) are met.
15    (g) Notwithstanding the provisions of subsection (a) of
16this Section or any other law, bonds in not to exceed an
17aggregate amount of 25% of the equalized assessed value of the
18taxable property of a school district and issued by a school
19district meeting the criteria in paragraphs (i) through (iv) of
20this subsection shall not be considered indebtedness for
21purposes of any statutory limitation and may be issued pursuant
22to resolution of the school board in an amount or amounts,
23including existing indebtedness, in excess of any statutory
24limitation of indebtedness heretofore or hereafter imposed:
25        (i) The bonds are issued for the purpose of
26    constructing a new high school building to replace two

 

 

09900SB2469ham002- 11 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 12 -LRB099 18264 AWJ 48969 a

1    school buildings of the district, all of which buildings
2    were originally constructed not less than 40 years ago;
3        (iii) The voters of the district approve a proposition
4    for the issuance of the bonds at a referendum held after
5    March 19, 1996; and
6        (iv) The bonds are issued pursuant to Sections 19-2
7    through 19-7 of this Code.
8    (i) Notwithstanding any other provisions of this Section or
9the provisions of any other law, until January 1, 1998, a
10community unit school district maintaining grades K through 12
11may issue bonds up to an amount, including existing
12indebtedness, not exceeding 27% of the equalized assessed value
13of the taxable property in the district, if all of the
14following conditions are met:
15        (i) The school district has an equalized assessed
16    valuation for calendar year 1995 of less than $44,600,000;
17        (ii) The bonds are issued for the capital improvement,
18    renovation, rehabilitation, or replacement of existing
19    school buildings of the district, all of which existing
20    buildings were originally constructed not less than 80
21    years ago;
22        (iii) The voters of the district approve a proposition
23    for the issuance of the bonds at a referendum held after
24    December 31, 1996; and
25        (iv) The bonds are issued pursuant to Sections 19-2
26    through 19-7 of this Code.

 

 

09900SB2469ham002- 13 -LRB099 18264 AWJ 48969 a

1    (j) Notwithstanding any other provisions of this Section or
2the provisions of any other law, until January 1, 1999, a
3community unit school district maintaining grades K through 12
4may issue bonds up to an amount, including existing
5indebtedness, not exceeding 27% of the equalized assessed value
6of the taxable property in the district if all of the following
7conditions are met:
8        (i) The school district has an equalized assessed
9    valuation for calendar year 1995 of less than $140,000,000
10    and a best 3 months average daily attendance for the
11    1995-96 school year of at least 2,800;
12        (ii) The bonds are issued to purchase a site and build
13    and equip a new high school, and the school district's
14    existing high school was originally constructed not less
15    than 35 years prior to the sale of the bonds;
16        (iii) At the time of the sale of the bonds, the board
17    of education determines by resolution that a new high
18    school is needed because of projected enrollment
19    increases;
20        (iv) At least 60% of those voting in an election held
21    after December 31, 1996 approve a proposition for the
22    issuance of the bonds; and
23        (v) The bonds are issued pursuant to Sections 19-2
24    through 19-7 of this Code.
25    (k) Notwithstanding the debt limitation prescribed in
26subsection (a) of this Section, a school district that meets

 

 

09900SB2469ham002- 14 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 15 -LRB099 18264 AWJ 48969 a

1    (the effective date of Public Act 90-757) this amendatory
2    Act of 1998.
3    (l) Notwithstanding any other provisions of this Section or
4the provisions of any other law, until January 1, 2000, a
5school district maintaining grades kindergarten through 8 may
6issue bonds up to an amount, including existing indebtedness,
7not exceeding 15% of the equalized assessed value of the
8taxable property in the district if all of the following
9conditions are met:
10        (i) the district has an equalized assessed valuation
11    for calendar year 1996 of less than $10,000,000;
12        (ii) the bonds are issued for capital improvement,
13    renovation, rehabilitation, or replacement of one or more
14    school buildings of the district, which buildings were
15    originally constructed not less than 70 years ago;
16        (iii) the voters of the district approve a proposition
17    for the issuance of the bonds at a referendum held on or
18    after March 17, 1998; and
19        (iv) the bonds are issued pursuant to Sections 19-2
20    through 19-7 of this Code.
21    (m) Notwithstanding any other provisions of this Section or
22the provisions of any other law, until January 1, 1999, an
23elementary school district maintaining grades K through 8 may
24issue bonds up to an amount, excluding existing indebtedness,
25not exceeding 18% of the equalized assessed value of the
26taxable property in the district, if all of the following

 

 

09900SB2469ham002- 16 -LRB099 18264 AWJ 48969 a

1conditions 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 accessible at all levels and parts of
12    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
19subsection (a) of this Section or any other provisions of this
20Section or of any other law, a school district that meets all
21of the criteria set forth in paragraphs (i) through (vi) of
22this subsection (n) may incur additional indebtedness by the
23issuance of bonds in an amount not exceeding the amount
24certified by the Capital Development Board to the school
25district as provided in paragraph (iii) of this subsection (n),
26even though the amount of the additional indebtedness so

 

 

09900SB2469ham002- 17 -LRB099 18264 AWJ 48969 a

1authorized, when incurred and added to the aggregate amount of
2indebtedness of the district existing immediately prior to the
3district incurring the additional indebtedness authorized by
4this subsection (n), causes the aggregate indebtedness of the
5district to exceed the debt limitation otherwise applicable by
6law to that district:
7        (i) The school district applies to the State Board of
8    Education for a school construction project grant and
9    submits a district facilities plan in support of its
10    application pursuant to Section 5-20 of the School
11    Construction Law.
12        (ii) The school district's application and facilities
13    plan are approved by, and the district receives a grant
14    entitlement for a school construction project issued by,
15    the State Board of Education under the School Construction
16    Law.
17        (iii) The school district has exhausted its bonding
18    capacity or the unused bonding capacity of the district is
19    less than the amount certified by the Capital Development
20    Board to the district under Section 5-15 of the School
21    Construction Law as the dollar amount of the school
22    construction project's cost that the district will be
23    required to finance with non-grant funds in order to
24    receive a school construction project grant under the
25    School Construction Law.
26        (iv) The bonds are issued for a "school construction

 

 

09900SB2469ham002- 18 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 19 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 20 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 21 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 22 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 23 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 24 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 25 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 26 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 27 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 28 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 29 -LRB099 18264 AWJ 48969 a

1statutory debt limitation.
2    (p-45) Notwithstanding the provisions of subsection (a) of
3this Section or of any other law, bonds issued pursuant to
4Section 19-3.5 of this Code shall not be considered
5indebtedness for purposes of any statutory limitation if the
6bonds are issued in an amount or amounts, including existing
7indebtedness of the school district, not in excess of 18.5% of
8the value of the taxable property in the district to be
9ascertained by the last assessment for State and county taxes.
10    (p-50) Notwithstanding the provisions of subsection (a) of
11this Section or of any other law, bonds issued pursuant to
12Section 19-3.10 of this Code shall not be considered
13indebtedness for purposes of any statutory limitation if the
14bonds are issued in an amount or amounts, including existing
15indebtedness of the school district, not in excess of 43% of
16the value of the taxable property in the district to be
17ascertained by the last assessment for State and county taxes.
18    (p-55) In addition to all other authority to issue bonds,
19Belle Valley School District 119 may issue bonds with an
20aggregate principal amount not to exceed $47,500,000, but only
21if all of the following conditions are met:
22        (1) The voters of the district approve a proposition
23    for the bond issuance at an election held on or after April
24    7, 2009.
25        (2) Prior to the issuance of the bonds, the school
26    board determines, by resolution, that (i) the building and

 

 

09900SB2469ham002- 30 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 31 -LRB099 18264 AWJ 48969 a

1    only those projects approved by the voters at the general
2    primary election held on March 21, 2006.
3        (2) Prior to the issuance of the bonds, the school
4    board determines, by resolution, that (i) the projects
5    approved by the voters were and are required because of the
6    age and condition of the school district's prior and
7    existing school buildings and (ii) the issuance of the
8    bonds is authorized by legislation that exempts the debt
9    incurred on the bonds from the district's statutory debt
10    limitation.
11        (3) The bonds are issued in one or more bond issuances
12    on or before March 1, 2011, but the aggregate principal
13    amount issued in all those bond issuances combined must not
14    exceed $2,285,000.
15        (4) The bonds are issued in accordance with this
16    Article.
17    The debt incurred on any bonds issued under this subsection
18(p-60) shall not be considered indebtedness for purposes of any
19statutory debt limitation.
20    (p-65) In addition to all other authority to issue bonds,
21West Washington County Community Unit School District 10 may
22issue bonds with an aggregate principal amount not to exceed
23$32,200,000 and maturing over a period not exceeding 25 years,
24but only if all of the following conditions are met:
25        (1) The voters of the district approve a proposition
26    for the bond issuance at an election held on or after

 

 

09900SB2469ham002- 32 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 33 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 34 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 35 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 36 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 37 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 38 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 39 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 40 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 41 -LRB099 18264 AWJ 48969 a

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

 

 

09900SB2469ham002- 42 -LRB099 18264 AWJ 48969 a

1    Article.
2        (5) The proceeds of the bonds are used to accomplish
3    only those projects approved by the voters at the election
4    held on March 20, 2012.
5    The debt incurred on any bonds issued under this subsection
6(p-110) shall not be considered indebtedness for purposes of
7any statutory debt limitation.
8    (p-115) In addition to all other authority to issue bonds,
9Bureau Valley Community Unit School District 340 may issue
10bonds with an aggregate principal amount not to exceed
11$25,000,000, but only if all of the following conditions are
12met:
13        (1) The voters of the district approve a proposition
14    for the bond issuance at an election held on or after March
15    15, 2016.
16        (2) Prior to the issuances of the bonds, the school
17    board determines, by resolution, that (i) the renovating
18    and equipping of some existing school buildings, the
19    building and equipping of new school buildings, and the
20    demolishing of some existing school buildings are required
21    as a result of the age and condition of existing school
22    buildings and (ii) the issuance of bonds is authorized by a
23    statute that exempts the debt incurred on the bonds from
24    the district's statutory debt limitation.
25        (3) The bonds are issued, in one or more issuances, on
26    or before July 1, 2021, but the aggregate principal amount

 

 

09900SB2469ham002- 43 -LRB099 18264 AWJ 48969 a

1    issued in all such bond issuances combined must not exceed
2    $25,000,000.
3        (4) The bonds are issued in accordance with this
4    Article.
5        (5) The proceeds of the bonds are used to accomplish
6    only those projects approved by the voters at an election
7    held on or after March 15, 2016.
8    The debt incurred on any bonds issued under this subsection
9(p-115) shall not be considered indebtedness for purposes of
10any statutory debt limitation. Bonds issued under this
11subsection (p-115) must mature within not to exceed 30 years
12from their date, notwithstanding any other law, including
13Section 19-3 of this Code, to the contrary.
14    (p-120) In addition to all other authority to issue bonds,
15Paxton-Buckley-Loda Community Unit School District 10 may
16issue bonds with an aggregate principal amount not to exceed
17$28,500,000, but only if all 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 8, 2016.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the projects as
23    described in said proposition, relating to the building and
24    equipping of one or more school buildings or additions to
25    existing school buildings, are required as a result of the
26    age and condition of the District's existing buildings and

 

 

09900SB2469ham002- 44 -LRB099 18264 AWJ 48969 a

1    (ii) the issuance of bonds is authorized by a statute that
2    exempts the debt incurred on the bonds from the district's
3    statutory debt limitation.
4        (3) The bonds are issued, in one or more issuances, not
5    later than 5 years after the date of the referendum
6    approving the issuance of the bonds, but the aggregate
7    principal amount issued in all such bond issuances combined
8    must not exceed $28,500,000.
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 November 8, 2016.
14    The debt incurred on any bonds issued under this subsection
15(p-120) and on any bonds issued to refund or continue to refund
16such bonds shall not be considered indebtedness for purposes of
17any statutory debt limitation. Bonds issued under this
18subsection (p-120) and any bonds issued to refund or continue
19to refund such bonds must mature within not to exceed 25 years
20from their date, notwithstanding any other law, including
21Section 19-3 of this Code, to the contrary.
22    (p-125) In addition to all other authority to issue bonds,
23Hillsboro Community Unit School District 3 may issue bonds with
24an aggregate principal amount not to exceed $34,500,000, but
25only if all the following conditions are met:
26        (1) The voters of the district approve a proposition

 

 

09900SB2469ham002- 45 -LRB099 18264 AWJ 48969 a

1    for the bond issuance at an election held on or after March
2    15, 2016.
3        (2) Prior to the issuance of the bonds, the school
4    board determines, by resolution, that (i) altering,
5    repairing, and equipping the high school
6    agricultural/vocational building, demolishing the high
7    school main, cafeteria, and gym buildings, building and
8    equipping a school building, and improving sites are
9    required as a result of the age and condition of the
10    district's existing buildings and (ii) the issuance of
11    bonds is authorized by a 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 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 $34,500,000.
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-125) and on any bonds issued to refund or continue to refund
26such bonds shall not be considered indebtedness for purposes of

 

 

09900SB2469ham002- 46 -LRB099 18264 AWJ 48969 a

1any statutory debt limitation. Bonds issued under this
2subsection (p-125) and any bonds issued to refund or continue
3to refund such bonds must mature within not to exceed 25 years
4from their date, notwithstanding any other law, including
5Section 19-3 of this Code, to the contrary.
6    (q) A school district must notify the State Board of
7Education prior to issuing any form of long-term or short-term
8debt that will result in outstanding debt that exceeds 75% of
9the debt limit specified in this Section or any other provision
10of law.
11(Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14;
1298-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff.
137-27-15; 99-390, eff. 8-18-15; revised 10-13-15.)
 
14    (105 ILCS 5/19-3)  (from Ch. 122, par. 19-3)
15    Sec. 19-3. Boards of education. Any school district
16governed by a board of education and having a population of not
17more than 500,000 inhabitants, and not governed by a special
18Act may borrow money for the purpose of building, equipping,
19altering or repairing school buildings or purchasing or
20improving school sites, or acquiring and equipping
21playgrounds, recreation grounds, athletic fields, and other
22buildings or land used or useful for school purposes or for the
23purpose of purchasing a site, with or without a building or
24buildings thereon, or for the building of a house or houses on
25such site, or for the building of a house or houses on the

 

 

09900SB2469ham002- 47 -LRB099 18264 AWJ 48969 a

1school site of the school district, for residential purposes of
2the superintendent, principal, or teachers of the school
3district, and issue its negotiable coupon bonds therefor signed
4by the president and secretary of the board, in denominations
5of not less than $100 nor more than $5,000, payable at such
6place and at such time or times, not exceeding 20 years, with
7the exception of Lockport High School and bonds issued by any
8school district as qualified school construction bonds in
9accordance with applicable federal tax law not exceeding 25
10years, from date of issuance, as the board of education may
11prescribe, and bearing interest at a rate not to exceed the
12maximum rate authorized by the Bond Authorization Act, as
13amended at the time of the making of the contract, payable
14annually, semiannually or quarterly, but no such bonds shall be
15issued unless the proposition to issue them is submitted to the
16voters of the district at a referendum held at a regularly
17scheduled election after the board has certified the
18proposition to the proper election authorities in accordance
19with the general election law, a majority of all the votes cast
20on the proposition is in favor of the proposition, and notice
21of such bond referendum has been given either (i) in accordance
22with the second paragraph of Section 12-1 of the Election Code
23irrespective of whether such notice included any reference to
24the public question as it appeared on the ballot, or (ii) for
25an election held on or after November 1, 1998, in accordance
26with Section 12-5 of the Election Code, or (iii) by publication

 

 

09900SB2469ham002- 48 -LRB099 18264 AWJ 48969 a

1of a true and legible copy of the specimen ballot label
2containing the proposition in the form in which it appeared or
3will appear on the official ballot label on the day of the
4election at least 5 days before the day of the election in at
5least one newspaper published in and having a general
6circulation in the district, irrespective of any other
7requirements of Article 12 or Section 24A-18 of the Election
8Code, nor shall any residential site be acquired unless such
9proposition to acquire a site is submitted to the voters of the
10district at a referendum held at a regularly scheduled election
11after the board has certified the proposition to the proper
12election authorities in accordance with the general election
13law and a majority of all the votes cast on the proposition is
14in favor of the proposition. Nothing in this Act or in any
15other law shall be construed to require the notice of the bond
16referendum to be published over the name or title of the
17election authority or the listing of maturity dates of any
18bonds either in the notice of bond election or ballot used in
19the bond election. The provisions of this Section concerning
20notice of the bond referendum apply only to (i) consolidated
21primary elections held prior to January 1, 2002 and the
22consolidated election held on April 17, 2007 at which not less
23than 60% of the voters voting on the bond proposition voted in
24favor of the bond proposition, and (ii) other elections held
25before July 1, 1999; otherwise, notices required in connection
26with the submission of public questions shall be as set forth

 

 

09900SB2469ham002- 49 -LRB099 18264 AWJ 48969 a

1in Section 12-5 of the Election Code. Such proposition may be
2initiated by resolution of the school board.
3    With respect to instruments for the payment of money issued
4under this Section either before, on, or after the effective
5date of this amendatory Act of 1989, it is and always has been
6the intention of the General Assembly (i) that the Omnibus Bond
7Acts are and always have been supplementary grants of power to
8issue instruments in accordance with the Omnibus Bond Acts,
9regardless of any provision of this Act that may appear to be
10or to have been more restrictive than those Acts, (ii) that the
11provisions of this Section are not a limitation on the
12supplementary authority granted by the Omnibus Bond Acts, and
13(iii) that instruments issued under this Section within the
14supplementary authority granted by the Omnibus Bond Acts are
15not invalid because of any provision of this Act that may
16appear to be or to have been more restrictive than those Acts.
17    The proceeds of any bonds issued under authority of this
18Section shall be deposited and accounted for separately within
19the Site and Construction/Capital Improvements Fund.
20(Source: P.A. 95-30, eff. 8-7-07; 96-787, eff. 8-28-09.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.".