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[ Introduced ] | [ Engrossed ] | [ Senate Amendment 001 ] |
92_HB1270enr HB1270 Enrolled LRB9203257SMdv 1 AN ACT in relation to taxes. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 1. Short title. This Act may be cited as the 5 School District Validation (2001) Act. 6 Section 5. Taxing validation. All taxes levied before 7 the effective date of this amendatory Act of the 92nd General 8 Assembly by any school district for the purpose of providing 9 funds for the payment of the principal of and interest on 10 bonds issued by that school district for the purpose of 11 implementing equitable remedies ordered by a federal court in 12 litigation involving school desegregation and refunding bonds 13 issued before the effective date of this amendatory Act of 14 the 92nd General Assembly to refund those bonds are hereby 15 validated, ratified, and confirmed as valid taxes lawfully 16 levied and fully authorized to be extended for collection 17 against all taxable property in the school district without 18 limitation as to rate or amount, notwithstanding that this 19 levy and extension of unlimited ad valorem taxes was not 20 authorized in accordance with law. 21 Section 10. Bonding validation. All bonds issued before 22 the effective date of this amendatory Act of the 92nd General 23 Assembly by any school district for the purpose of funding 24 the costs of equitable remedies ordered by a federal court in 25 litigation involving school desegregation and all refunding 26 bonds issued before the effective date of this amendatory Act 27 of the 92nd General Assembly to refund those bonds are hereby 28 validated, ratified, and confirmed as lawful, valid, and 29 binding general obligations of that school district, 30 notwithstanding that the bonds and refunding bonds were not HB1270 Enrolled -2- LRB9203257SMdv 1 approved by referendum or otherwise authorized and issued in 2 accordance with law. 3 Section 15. Validation of actions of school district and 4 school board. All actions taken before the effective date of 5 this amendatory Act of the 92nd General Assembly by any 6 school district and its board of education to authorize and 7 issue bonds and refunding bonds for the purpose of 8 implementing equitable remedies ordered by a federal court in 9 litigation involving school desegregation and to levy and 10 extend unlimited ad valorem taxes for the payment of the 11 principal of and interest on bonds and refunding bonds issued 12 for the purpose of implementing equitable remedies ordered by 13 a federal court in litigation involving school desegregation 14 are hereby ratified, validated, and confirmed as valid and 15 lawful acts of that school district and board of education 16 undertaken in accordance with law, notwithstanding that the 17 bonds or refunding bonds were not approved by referendum or 18 otherwise authorized and issued in accordance with law and 19 notwithstanding that the unlimited ad valorem taxes were not 20 levied and authorized to be extended in accordance with law. 21 Section 99. Effective date. This Act takes effect upon 22 becoming law.