(110 ILCS 805/3A-2) (from Ch. 122, par. 103A-2)
Sec. 3A-2.
Where bonds are issued by any community college district under
Sections 3A-1 through 3A-4, and before any contract is let for the
construction of buildings or improvements in accordance therewith the
district boundaries are changed by the formation of a new district
including all or a part of such district, or by the annexation of a
district in its entirety to another district, then upon the adoption of
a resolution by the board of the new district or the district to which
the territory has been annexed, that the building or improvements are no
longer feasible, the board shall order a referendum in the manner
provided in the general election law to vote on the proposition of
authorizing the board to use the proceeds of such bonds or the portion
thereof allotted to the new district or district to which such territory
is annexed for a specific new building or improvement in some locality
of the district other than the one specified at the previous referendum,
or for a different improvement, or for a part of the original
improvements. In case a new district has been formed, no such referendum
shall be held unless the new district embraces territory having as much
or more assessed valuation as the territory embraced in the district at
the first referendum.
Where bonds are issued by any district under Sections 3A-1 through
3A-4, and it is determined by the board by resolution that it is in the
interests of the district that part or all of the proceeds of the bonds
be used for different purposes than authorized but for purposes for
which bonds may be issued under Sections 3A-1 through 3A-4, the board
shall order a referendum in the manner provided in the general election
law to vote on the proposition of authorizing the board to use the
proceeds of such bonds or a part thereof for the purposes set forth in
such resolution. The board shall certify the proposition to the proper
election authorities for submission to the electors. If a majority
of all the votes cast on such proposition is in favor the board shall have such authority.
Notwithstanding any provision of this Section to the contrary, when
bonds are issued by any district under Sections 3A-1 through 3A-4 and
the purposes for which such bonds have been issued have been
accomplished and paid for in full and there remains funds on hand in
such bond and interest account, the board by resolution may transfer
such excess to the fund of the district which bears the nearest relation
to the purpose for which the bonds from which such excess funds arose
were issued.
Notwithstanding any provision of this Section to the contrary, when bonds
have been issued by a district under Sections 3A-1 through 3A-4 and the
board of trustees of the district has determined that a site acquired with
the proceeds of such bond issue without the use of State funds has become
unnecessary, unsuitable or inconvenient for community college purposes
and has sold such site in accordance with the provisions of Section 3-41
of this Act, the board shall first use the proceeds from the sale of such
site to pay the portion of the principal originally expended to purchase
such site, together with the interest thereon, and may use the remaining
proceeds from such sale for the purpose for which the bonds were issued
or to retire other bonds of the same issue. Such remaining proceeds may
also be used for any other authorized purpose designated in a resolution
approved by not less than 5 members of the board of trustees. The board
of trustees shall cause notice of any such resolution and of the right to
petition for an election under this Section to be published within 10 days
after the adoption of the resolution in a newspaper having a general
circulation in the district. The publication of the resolution shall
include a notice of (1) the specific number of voters required to sign a
petition requesting that the question of the other authorized use of the
remaining proceeds be submitted to the voters of the district; (2) the time
within which the petition must be filed; and (3) the date of the
prospective referendum. The district secretary shall provide a petition
form to any individual requesting one. If 10% or 1000, whichever is less,
of the resident voters of the district sign and file a petition with the
board, not more than 30 days after the resolution of the board is adopted,
requesting that the question of such other authorized use designated in the
resolution of the remaining proceeds be submitted to the voters of the
community college district, the board shall call an election upon such
question, to be held not less than 30 days nor more than 60 days after the
filing of the petition and to be conducted as provided in Article III. The
remaining proceeds may be used for the designated purpose only if a
majority of those voting on the question approve such use.
(Source: P.A. 86-1253.)
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