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90_HB0487
20 ILCS 3105/1A-1.15 new
20 ILCS 3105/1A-1.3 from Ch. 127, par. 783.1-3
30 ILCS 330/2 from Ch. 127, par. 652
30 ILCS 330/5 from Ch. 127, par. 655
Amends the Capital Development Board Act and the General
Obligation Bond Act. Increases the State's bonding authority
by $360,000,000, earmarking that increase for grants for
school construction projects in downstate school districts
(i) which are located in a county that has a population of
less than 500,000 and that is not contiguous to a county with
a population in excess of 3,000,000 and (ii) which operate
schools that meet specified criteria that are to be given
priority consideration by the State Board of Education in
determining the priority order of School Construction Project
grants made by the Capital Development Board. Effective
immediately.
LRB9002331THpkA
LRB9002331THpkA
1 AN ACT relating to bonds for school construction
2 projects, amending named Acts.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Capital Development Board Act is amended
6 by adding Section 1A-1.15 and changing Section 1A-1.3 as
7 follows:
8 (20 ILCS 3105/1A-1.15 new)
9 Sec. 1A-1.15. From funds appropriated by the General
10 Assembly from the School Construction Fund, the Board is
11 authorized to make grants in accordance with the provisions
12 of this Act for School Construction Projects authorized
13 pursuant to subsection (e) of Section 5 of the General
14 Obligation Bond Act. Those grants shall be based on grant
15 entitlements issued by the State Board of Education and shall
16 be made by the Board to school districts which are located in
17 a county that has a population of less than 500,000
18 inhabitants and that is not contiguous to a county with a
19 population in excess of 3,000,000 inhabitants, in accordance
20 with the priority order provided by the State Board of
21 Education under the priority considerations described
22 therefor in Section 1A-1.3 of this Act.
23 (20 ILCS 3105/1A-1.3) (from Ch. 127, par. 783.1-3)
24 Sec. 1A-1.3. The State Board of Education is authorized
25 to issue grant entitlements for Planning Assistance, School
26 Construction Projects and Debt Service and shall determine
27 the priority order for Planning Assistance and School
28 Construction Project grants to be made by the Board. However,
29 in determining the priority order for School Construction
30 Project grants to be made by the Board and the issuance of
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1 grant entitlements therefor under Section 1A-1.15 of this
2 Act, the State Board of Education shall give priority
3 consideration to School Construction Projects for (i) school
4 districts that because of debt limitations applicable to the
5 district under Section 19-1 of the School Code are unable, or
6 unable except by referendum, to incur additional indebtedness
7 by the issuance of bonds for school construction purposes,
8 and (ii) schools with fire and Health/Life Safety Code
9 violations, child safety concerns, pupil overcrowding, and
10 facilities that are not conducive to the teaching of modern
11 technologies.
12 (Source: P.A. 79-1098.)
13 Section 10. The General Obligation Bond Act is amended
14 by changing Sections 2 and 5 as follows:
15 (30 ILCS 330/2) (from Ch. 127, par. 652)
16 Sec. 2. Authorization for Bonds. The State of Illinois
17 is authorized to issue, sell and provide for the retirement
18 of General Obligation Bonds of the State of Illinois in the
19 total amount of $8,506,008,392 $8,146,008,392 herein called
20 "Bonds".
21 Of the total amount of bonds authorized above, up to
22 $1,700,000,000 in aggregate original principal amount may be
23 issued and sold in accordance with the Baccalaureate Savings
24 Act in the form of General Obligation College Savings Bonds.
25 Of the total amount of bonds authorized above, up to
26 $300,000,000 in aggregate original principal amount may be
27 issued and sold in accordance with the Retirement Savings Act
28 in the form of General Obligation Retirement Savings Bonds.
29 The issuance and sale of Bonds pursuant to the General
30 Obligation Bond Act is an economical and efficient method of
31 financing the capital needs of the State. This Act will
32 permit the issuance of a multi-purpose General Obligation
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1 Bond with uniform terms and features. This will not only
2 lower the cost of registration but also reduce the overall
3 cost of issuing debt by improving the marketability of
4 Illinois General Obligation Bonds.
5 Bonds shall be issued for the categories and specific
6 purposes expressed in Sections 2 through 8 and Section 16 of
7 this Act.
8 (Source: P.A. 87-144; 87-173; 87-836; 87-873; 88-93; 88-472;
9 88-552, eff. 7-14-94; 88-670, eff. 12-2-94.)
10 (30 ILCS 330/5) (from Ch. 127, par. 655)
11 Sec. 5. School Construction. (a) The amount of
12 $58,450,000 is authorized to make grants to local school
13 districts for the acquisition, development, construction,
14 reconstruction, rehabilitation, improvement, financing,
15 architectural planning and installation of capital
16 facilities, including but not limited to those required for
17 special education building projects provided for in Article
18 14 of The School Code, consisting of buildings, structures,
19 and durable equipment, and for the acquisition and
20 improvement of real property and interests in real property
21 required, or expected to be required, in connection
22 therewith.
23 (b) $22,550,000, or so much thereof as may be necessary,
24 for grants to school districts for the making of principal
25 and interest payments, required to be made, on bonds issued
26 by such school districts after January 1, 1969, pursuant to
27 any indenture, ordinance, resolution, agreement or contract
28 to provide funds for the acquisition, development,
29 construction, reconstruction, rehabilitation, improvement,
30 architectural planning and installation of capital facilities
31 consisting of buildings, structures, durable equipment and
32 land for educational purposes or for lease payments required
33 to be made by a school district for principal and interest
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1 payments on bonds issued by a Public Building Commission
2 after January 1, 1969.
3 (c) $10,000,000 for grants to school districts for the
4 acquisition, development, construction, reconstruction,
5 rehabilitation, improvement, architectural planning and
6 installation of capital facilities consisting of buildings
7 structures, durable equipment and land for special education
8 building projects.
9 (d) $9,000,000 for grants to school districts for the
10 reconstruction, rehabilitation, improvement, financing and
11 architectural planning of capital facilities, including
12 construction at another location to replace such capital
13 facilities, consisting of those public school buildings and
14 temporary school facilities which, prior to January 1, 1984,
15 were condemned by the regional superintendent under Section
16 3-14.22 of The School Code or by any State official having
17 jurisdiction over building safety.
18 (e) $360,000,000 for grants to local school districts
19 which are located in a county that has a population of less
20 than 500,000 inhabitants and that is not contiguous to a
21 county with a population in excess of 3,000,000 inhabitants
22 for the acquisition, development, construction,
23 reconstruction, rehabilitation, improvement, financing,
24 architectural planning and installation of capital
25 facilities, including but not limited to those required for
26 special education building projects provided for in Article
27 14 of the School Code, consisting of buildings, structures,
28 and durable equipment, and for the acquisition and
29 improvement of real property and interests in real property
30 required, or expected to be required, in connection
31 therewith. School district projects eligible for grants
32 pursuant to this subsection (e) are subject to the criteria
33 that, under the provisions of Section 1A-1.3 of the Capital
34 Development Board Act, are entitled to priority consideration
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1 from the State Board of Education in issuing grant
2 entitlements and determining the priority order of School
3 Construction Project grants that are to be made by the
4 Capital Development Board under Section 1A-1.15 of that Act.
5 (Source: P.A. 84-1227.)
6 Section 99. Effective date. This Act takes effect upon
7 becoming law.