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90_HB2088
30 ILCS 330/5 from Ch. 127, par. 655
Amends the General Obligation Bond Act. Makes changes of
style and punctuation in the provisions of the Act relating
to school construction.
LRB9005381THcw
LRB9005381THcw
1 AN ACT to amend the General Obligation Bond Act by
2 changing Section 5.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The General Obligation Bond Act is amended by
6 changing Section 5 as follows:
7 (30 ILCS 330/5) (from Ch. 127, par. 655)
8 Sec. 5. School Construction. (a) The amount of
9 $58,450,000 is authorized to make grants to local school
10 districts for the acquisition, development, construction,
11 reconstruction, rehabilitation, improvement, financing,
12 architectural planning and installation of capital
13 facilities, including but not limited to those required for
14 special education building projects provided for in Article
15 14 of The School Code, consisting of buildings, structures,
16 and durable equipment, and for the acquisition and
17 improvement of real property and interests in real property
18 required, or expected to be required, in connection
19 therewith.
20 (b) $22,550,000, or as so much thereof as may be
21 necessary, for grants to school districts for the making of
22 principal and interest payments, required to be made, on
23 bonds issued by those such school districts after January 1,
24 1969, pursuant to any indenture, ordinance, resolution,
25 agreement or contract to provide funds for the acquisition,
26 development, construction, reconstruction, rehabilitation,
27 improvement, architectural planning and installation of
28 capital facilities consisting of buildings, structures,
29 durable equipment and land for educational purposes or for
30 lease payments required to be made by a school district for
31 principal and interest payments on bonds issued by a Public
-2- LRB9005381THcw
1 Building Commission after January 1, 1969.
2 (c) $10,000,000 for grants to school districts for the
3 acquisition, development, construction, reconstruction,
4 rehabilitation, improvement, architectural planning and
5 installation of capital facilities consisting of buildings
6 structures, durable equipment and land for special education
7 building projects.
8 (d) $9,000,000 for grants to school districts for the
9 reconstruction, rehabilitation, improvement, financing and
10 architectural planning of capital facilities, including
11 construction at another location to replace such capital
12 facilities, consisting of those public school buildings and
13 temporary school facilities which, prior to January 1, 1984,
14 were condemned by the regional superintendent under Section
15 3-14.22 of The School Code or by any State official having
16 jurisdiction over building safety.
17 (Source: P.A. 84-1227.)