Public Act 095-0594
 
HB1969 Enrolled LRB095 11335 RAS 32047 b

    AN ACT concerning education.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The School Code is amended by changing Section
19-1 as follows:
 
    (105 ILCS 5/19-1)  (from Ch. 122, par. 19-1)
    Sec. 19-1. Debt limitations of school districts.
    (a) School districts shall not be subject to the provisions
limiting their indebtedness prescribed in "An Act to limit the
indebtedness of counties having a population of less than
500,000 and townships, school districts and other municipal
corporations having a population of less than 300,000",
approved February 15, 1928, as amended.
    No school districts maintaining grades K through 8 or 9
through 12 shall become indebted in any manner or for any
purpose to an amount, including existing indebtedness, in the
aggregate exceeding 6.9% on the value of the taxable property
therein to be ascertained by the last assessment for State and
county taxes or, until January 1, 1983, if greater, the sum
that is produced by multiplying the school district's 1978
equalized assessed valuation by the debt limitation percentage
in effect on January 1, 1979, previous to the incurring of such
indebtedness.
    No school districts maintaining grades K through 12 shall
become indebted in any manner or for any purpose to an amount,
including existing indebtedness, in the aggregate exceeding
13.8% on the value of the taxable property therein to be
ascertained by the last assessment for State and county taxes
or, until January 1, 1983, if greater, the sum that is produced
by multiplying the school district's 1978 equalized assessed
valuation by the debt limitation percentage in effect on
January 1, 1979, previous to the incurring of such
indebtedness.
    No partial elementary unit district, as defined in Article
11E of this Code, shall become indebted in any manner or for
any purpose in an amount, including existing indebtedness, in
the aggregate exceeding 6.9% of the value of the taxable
property of the entire district, to be ascertained by the last
assessment for State and county taxes, plus an amount,
including existing indebtedness, in the aggregate exceeding
6.9% of the value of the taxable property of that portion of
the district included in the elementary and high school
classification, to be ascertained by the last assessment for
State and county taxes. Moreover, no partial elementary unit
district, as defined in Article 11E of this Code, shall become
indebted on account of bonds issued by the district for high
school purposes in the aggregate exceeding 6.9% of the value of
the taxable property of the entire district, to be ascertained
by the last assessment for State and county taxes, nor shall
the district become indebted on account of bonds issued by the
district for elementary purposes in the aggregate exceeding
6.9% of the value of the taxable property for that portion of
the district included in the elementary and high school
classification, to be ascertained by the last assessment for
State and county taxes.
    Notwithstanding the provisions of any other law to the
contrary, in any case in which the voters of a school district
have approved a proposition for the issuance of bonds of such
school district at an election held prior to January 1, 1979,
and all of the bonds approved at such election have not been
issued, the debt limitation applicable to such school district
during the calendar year 1979 shall be computed by multiplying
the value of taxable property therein, including personal
property, as ascertained by the last assessment for State and
county taxes, previous to the incurring of such indebtedness,
by the percentage limitation applicable to such school district
under the provisions of this subsection (a).
    (b) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, additional indebtedness may be
incurred in an amount not to exceed the estimated cost of
acquiring or improving school sites or constructing and
equipping additional building facilities under the following
conditions:
        (1) Whenever the enrollment of students for the next
    school year is estimated by the board of education to
    increase over the actual present enrollment by not less
    than 35% or by not less than 200 students or the actual
    present enrollment of students has increased over the
    previous school year by not less than 35% or by not less
    than 200 students and the board of education determines
    that additional school sites or building facilities are
    required as a result of such increase in enrollment; and
        (2) When the Regional Superintendent of Schools having
    jurisdiction over the school district and the State
    Superintendent of Education concur in such enrollment
    projection or increase and approve the need for such
    additional school sites or building facilities and the
    estimated cost thereof; and
        (3) When the voters in the school district approve a
    proposition for the issuance of bonds for the purpose of
    acquiring or improving such needed school sites or
    constructing and equipping such needed additional building
    facilities at an election called and held for that purpose.
    Notice of such an election shall state that the amount of
    indebtedness proposed to be incurred would exceed the debt
    limitation otherwise applicable to the school district.
    The ballot for such proposition shall state what percentage
    of the equalized assessed valuation will be outstanding in
    bonds if the proposed issuance of bonds is approved by the
    voters; or
        (4) Notwithstanding the provisions of paragraphs (1)
    through (3) of this subsection (b), if the school board
    determines that additional facilities are needed to
    provide a quality educational program and not less than 2/3
    of those voting in an election called by the school board
    on the question approve the issuance of bonds for the
    construction of such facilities, the school district may
    issue bonds for this purpose; or
        (5) Notwithstanding the provisions of paragraphs (1)
    through (3) of this subsection (b), if (i) the school
    district has previously availed itself of the provisions of
    paragraph (4) of this subsection (b) to enable it to issue
    bonds, (ii) the voters of the school district have not
    defeated a proposition for the issuance of bonds since the
    referendum described in paragraph (4) of this subsection
    (b) was held, (iii) the school board determines that
    additional facilities are needed to provide a quality
    educational program, and (iv) a majority of those voting in
    an election called by the school board on the question
    approve the issuance of bonds for the construction of such
    facilities, the school district may issue bonds for this
    purpose.
    In no event shall the indebtedness incurred pursuant to
this subsection (b) and the existing indebtedness of the school
district exceed 15% of the value of the taxable property
therein to be ascertained by the last assessment for State and
county taxes, previous to the incurring of such indebtedness
or, until January 1, 1983, if greater, the sum that is produced
by multiplying the school district's 1978 equalized assessed
valuation by the debt limitation percentage in effect on
January 1, 1979.
    The indebtedness provided for by this subsection (b) shall
be in addition to and in excess of any other debt limitation.
    (c) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, in any case in which a public
question for the issuance of bonds of a proposed school
district maintaining grades kindergarten through 12 received
at least 60% of the valid ballots cast on the question at an
election held on or prior to November 8, 1994, and in which the
bonds approved at such election have not been issued, the
school district pursuant to the requirements of Section 11A-10
(now repealed) may issue the total amount of bonds approved at
such election for the purpose stated in the question.
    (d) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, a school district that meets
all the criteria set forth in paragraphs (1) and (2) of this
subsection (d) may incur an additional indebtedness in an
amount not to exceed $4,500,000, even though the amount of the
additional indebtedness authorized by this subsection (d),
when incurred and added to the aggregate amount of indebtedness
of the district existing immediately prior to the district
incurring the additional indebtedness authorized by this
subsection (d), causes the aggregate indebtedness of the
district to exceed the debt limitation otherwise applicable to
that district under subsection (a):
        (1) The additional indebtedness authorized by this
    subsection (d) is incurred by the school district through
    the issuance of bonds under and in accordance with Section
    17-2.11a for the purpose of replacing a school building
    which, because of mine subsidence damage, has been closed
    as provided in paragraph (2) of this subsection (d) or
    through the issuance of bonds under and in accordance with
    Section 19-3 for the purpose of increasing the size of, or
    providing for additional functions in, such replacement
    school buildings, or both such purposes.
        (2) The bonds issued by the school district as provided
    in paragraph (1) above are issued for the purposes of
    construction by the school district of a new school
    building pursuant to Section 17-2.11, to replace an
    existing school building that, because of mine subsidence
    damage, is closed as of the end of the 1992-93 school year
    pursuant to action of the regional superintendent of
    schools of the educational service region in which the
    district is located under Section 3-14.22 or are issued for
    the purpose of increasing the size of, or providing for
    additional functions in, the new school building being
    constructed to replace a school building closed as the
    result of mine subsidence damage, or both such purposes.
    (e) (Blank).
    (f) Notwithstanding the provisions of subsection (a) of
this Section or of any other law, bonds in not to exceed the
aggregate amount of $5,500,000 and issued by a school district
meeting the following criteria shall not be considered
indebtedness for purposes of any statutory limitation and may
be issued in an amount or amounts, including existing
indebtedness, in excess of any heretofore or hereafter imposed
statutory limitation as to indebtedness:
        (1) At the time of the sale of such bonds, the board of
    education of the district shall have determined by
    resolution that the enrollment of students in the district
    is projected to increase by not less than 7% during each of
    the next succeeding 2 school years.
        (2) The board of education shall also determine by
    resolution that the improvements to be financed with the
    proceeds of the bonds are needed because of the projected
    enrollment increases.
        (3) The board of education shall also determine by
    resolution that the projected increases in enrollment are
    the result of improvements made or expected to be made to
    passenger rail facilities located in the school district.
    Notwithstanding the provisions of subsection (a) of this
Section or of any other law, a school district that has availed
itself of the provisions of this subsection (f) prior to July
22, 2004 (the effective date of Public Act 93-799) may also
issue bonds approved by referendum up to an amount, including
existing indebtedness, not exceeding 25% of the equalized
assessed value of the taxable property in the district if all
of the conditions set forth in items (1), (2), and (3) of this
subsection (f) are met.
    (g) Notwithstanding the provisions of subsection (a) of
this Section or any other law, bonds in not to exceed an
aggregate amount of 25% of the equalized assessed value of the
taxable property of a school district and issued by a school
district meeting the criteria in paragraphs (i) through (iv) of
this subsection shall not be considered indebtedness for
purposes of any statutory limitation and may be issued pursuant
to resolution of the school board in an amount or amounts,
including existing indebtedness, in excess of any statutory
limitation of indebtedness heretofore or hereafter imposed:
        (i) The bonds are issued for the purpose of
    constructing a new high school building to replace two
    adjacent existing buildings which together house a single
    high school, each of which is more than 65 years old, and
    which together are located on more than 10 acres and less
    than 11 acres of property.
        (ii) At the time the resolution authorizing the
    issuance of the bonds is adopted, the cost of constructing
    a new school building to replace the existing school
    building is less than 60% of the cost of repairing the
    existing school building.
        (iii) The sale of the bonds occurs before July 1, 1997.
        (iv) The school district issuing the bonds is a unit
    school district located in a county of less than 70,000 and
    more than 50,000 inhabitants, which has an average daily
    attendance of less than 1,500 and an equalized assessed
    valuation of less than $29,000,000.
    (h) Notwithstanding any other provisions of this Section or
the provisions of any other law, until January 1, 1998, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27.6% of the equalized assessed
value of the taxable property in the district, if all of the
following conditions are met:
        (i) The school district has an equalized assessed
    valuation for calendar year 1995 of less than $24,000,000;
        (ii) The bonds are issued for the capital improvement,
    renovation, rehabilitation, or replacement of existing
    school buildings of the district, all of which buildings
    were originally constructed not less than 40 years ago;
        (iii) The voters of the district approve a proposition
    for the issuance of the bonds at a referendum held after
    March 19, 1996; and
        (iv) The bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (i) Notwithstanding any other provisions of this Section or
the provisions of any other law, until January 1, 1998, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27% of the equalized assessed value
of the taxable property in the district, if all of the
following conditions are met:
        (i) The school district has an equalized assessed
    valuation for calendar year 1995 of less than $44,600,000;
        (ii) The bonds are issued for the capital improvement,
    renovation, rehabilitation, or replacement of existing
    school buildings of the district, all of which existing
    buildings were originally constructed not less than 80
    years ago;
        (iii) The voters of the district approve a proposition
    for the issuance of the bonds at a referendum held after
    December 31, 1996; and
        (iv) The bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (j) Notwithstanding any other provisions of this Section or
the provisions of any other law, until January 1, 1999, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 27% of the equalized assessed value
of the taxable property in the district if all of the following
conditions are met:
        (i) The school district has an equalized assessed
    valuation for calendar year 1995 of less than $140,000,000
    and a best 3 months average daily attendance for the
    1995-96 school year of at least 2,800;
        (ii) The bonds are issued to purchase a site and build
    and equip a new high school, and the school district's
    existing high school was originally constructed not less
    than 35 years prior to the sale of the bonds;
        (iii) At the time of the sale of the bonds, the board
    of education determines by resolution that a new high
    school is needed because of projected enrollment
    increases;
        (iv) At least 60% of those voting in an election held
    after December 31, 1996 approve a proposition for the
    issuance of the bonds; and
        (v) The bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (k) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section, a school district that meets
all the criteria set forth in paragraphs (1) through (4) of
this subsection (k) may issue bonds to incur an additional
indebtedness in an amount not to exceed $4,000,000 even though
the amount of the additional indebtedness authorized by this
subsection (k), when incurred and added to the aggregate amount
of indebtedness of the school district existing immediately
prior to the school district incurring such additional
indebtedness, causes the aggregate indebtedness of the school
district to exceed or increases the amount by which the
aggregate indebtedness of the district already exceeds the debt
limitation otherwise applicable to that school district under
subsection (a):
        (1) the school district is located in 2 counties, and a
    referendum to authorize the additional indebtedness was
    approved by a majority of the voters of the school district
    voting on the proposition to authorize that indebtedness;
        (2) the additional indebtedness is for the purpose of
    financing a multi-purpose room addition to the existing
    high school;
        (3) the additional indebtedness, together with the
    existing indebtedness of the school district, shall not
    exceed 17.4% of the value of the taxable property in the
    school district, to be ascertained by the last assessment
    for State and county taxes; and
        (4) the bonds evidencing the additional indebtedness
    are issued, if at all, within 120 days of the effective
    date of this amendatory Act of 1998.
    (l) Notwithstanding any other provisions of this Section or
the provisions of any other law, until January 1, 2000, a
school district maintaining grades kindergarten through 8 may
issue bonds up to an amount, including existing indebtedness,
not exceeding 15% of the equalized assessed value of the
taxable property in the district if all of the following
conditions are met:
        (i) the district has an equalized assessed valuation
    for calendar year 1996 of less than $10,000,000;
        (ii) the bonds are issued for capital improvement,
    renovation, rehabilitation, or replacement of one or more
    school buildings of the district, which buildings were
    originally constructed not less than 70 years ago;
        (iii) the voters of the district approve a proposition
    for the issuance of the bonds at a referendum held on or
    after March 17, 1998; and
        (iv) the bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (m) Notwithstanding any other provisions of this Section or
the provisions of any other law, until January 1, 1999, an
elementary school district maintaining grades K through 8 may
issue bonds up to an amount, excluding existing indebtedness,
not exceeding 18% of the equalized assessed value of the
taxable property in the district, if all of the following
conditions are met:
        (i) The school district has an equalized assessed
    valuation for calendar year 1995 or less than $7,700,000;
        (ii) The school district operates 2 elementary
    attendance centers that until 1976 were operated as the
    attendance centers of 2 separate and distinct school
    districts;
        (iii) The bonds are issued for the construction of a
    new elementary school building to replace an existing
    multi-level elementary school building of the school
    district that is not handicapped accessible at all levels
    and parts of which were constructed more than 75 years ago;
        (iv) The voters of the school district approve a
    proposition for the issuance of the bonds at a referendum
    held after July 1, 1998; and
        (v) The bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (n) Notwithstanding the debt limitation prescribed in
subsection (a) of this Section or any other provisions of this
Section or of any other law, a school district that meets all
of the criteria set forth in paragraphs (i) through (vi) of
this subsection (n) may incur additional indebtedness by the
issuance of bonds in an amount not exceeding the amount
certified by the Capital Development Board to the school
district as provided in paragraph (iii) of this subsection (n),
even though the amount of the additional indebtedness so
authorized, when incurred and added to the aggregate amount of
indebtedness of the district existing immediately prior to the
district incurring the additional indebtedness authorized by
this subsection (n), causes the aggregate indebtedness of the
district to exceed the debt limitation otherwise applicable by
law to that district:
        (i) The school district applies to the State Board of
    Education for a school construction project grant and
    submits a district facilities plan in support of its
    application pursuant to Section 5-20 of the School
    Construction Law.
        (ii) The school district's application and facilities
    plan are approved by, and the district receives a grant
    entitlement for a school construction project issued by,
    the State Board of Education under the School Construction
    Law.
        (iii) The school district has exhausted its bonding
    capacity or the unused bonding capacity of the district is
    less than the amount certified by the Capital Development
    Board to the district under Section 5-15 of the School
    Construction Law as the dollar amount of the school
    construction project's cost that the district will be
    required to finance with non-grant funds in order to
    receive a school construction project grant under the
    School Construction Law.
        (iv) The bonds are issued for a "school construction
    project", as that term is defined in Section 5-5 of the
    School Construction Law, in an amount that does not exceed
    the dollar amount certified, as provided in paragraph (iii)
    of this subsection (n), by the Capital Development Board to
    the school district under Section 5-15 of the School
    Construction Law.
        (v) The voters of the district approve a proposition
    for the issuance of the bonds at a referendum held after
    the criteria specified in paragraphs (i) and (iii) of this
    subsection (n) are met.
        (vi) The bonds are issued pursuant to Sections 19-2
    through 19-7 of the School Code.
    (o) Notwithstanding any other provisions of this Section or
the provisions of any other law, until November 1, 2007, a
community unit school district maintaining grades K through 12
may issue bonds up to an amount, including existing
indebtedness, not exceeding 20% of the equalized assessed value
of the taxable property in the district if all of the following
conditions are met:
        (i) the school district has an equalized assessed
    valuation for calendar year 2001 of at least $737,000,000
    and an enrollment for the 2002-2003 school year of at least
    8,500;
        (ii) the bonds are issued to purchase school sites,
    build and equip a new high school, build and equip a new
    junior high school, build and equip 5 new elementary
    schools, and make technology and other improvements and
    additions to existing schools;
        (iii) at the time of the sale of the bonds, the board
    of education determines by resolution that the sites and
    new or improved facilities are needed because of projected
    enrollment increases;
        (iv) at least 57% of those voting in a general election
    held prior to January 1, 2003 approved a proposition for
    the issuance of the bonds; and
        (v) the bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (p) Notwithstanding any other provisions of this Section or
the provisions of any other law, a community unit school
district maintaining grades K through 12 may issue bonds up to
an amount, including indebtedness, not exceeding 27% of the
equalized assessed value of the taxable property in the
district if all of the following conditions are met:
        (i) The school district has an equalized assessed
    valuation for calendar year 2001 of at least $295,741,187
    and a best 3 months' average daily attendance for the
    2002-2003 school year of at least 2,394.
        (ii) The bonds are issued to build and equip 3
    elementary school buildings; build and equip one middle
    school building; and alter, repair, improve, and equip all
    existing school buildings in the district.
        (iii) At the time of the sale of the bonds, the board
    of education determines by resolution that the project is
    needed because of expanding growth in the school district
    and a projected enrollment increase.
        (iv) The bonds are issued pursuant to Sections 19-2
    through 19-7 of this Code.
    (p-5) Notwithstanding any other provisions of this Section
or the provisions of any other law, bonds issued by a community
unit school district maintaining grades K through 12 shall not
be considered indebtedness for purposes of any statutory
limitation and may be issued in an amount or amounts, including
existing indebtedness, in excess of any heretofore or hereafter
imposed statutory limitation as to indebtedness, if all of the
following conditions are met:
        (i) For each of the 4 most recent years, residential
    property comprises more than 80% of the equalized assessed
    valuation of the district.
        (ii) At least 2 school buildings that were constructed
    40 or more years prior to the issuance of the bonds will be
    demolished and will be replaced by new buildings or
    additions to one or more existing buildings.
        (iii) Voters of the district approve a proposition for
    the issuance of the bonds at a regularly scheduled
    election.
        (iv) At the time of the sale of the bonds, the school
    board determines by resolution that the new buildings or
    building additions are needed because of an increase in
    enrollment projected by the school board.
        (v) The principal amount of the bonds, including
    existing indebtedness, does not exceed 25% of the equalized
    assessed value of the taxable property in the district.
        (vi) The bonds are issued prior to January 1, 2007,
    pursuant to Sections 19-2 through 19-7 of this Code.
    (p-10) Notwithstanding any other provisions of this
Section or the provisions of any other law, bonds issued by a
community consolidated school district maintaining grades K
through 8 shall not be considered indebtedness for purposes of
any statutory limitation and may be issued in an amount or
amounts, including existing indebtedness, in excess of any
heretofore or hereafter imposed statutory limitation as to
indebtedness, if all of the following conditions are met:
        (i) For each of the 4 most recent years, residential
    and farm property comprises more than 80% of the equalized
    assessed valuation of the district.
        (ii) The bond proceeds are to be used to acquire and
    improve school sites and build and equip a school building.
        (iii) Voters of the district approve a proposition for
    the issuance of the bonds at a regularly scheduled
    election.
        (iv) At the time of the sale of the bonds, the school
    board determines by resolution that the school sites and
    building additions are needed because of an increase in
    enrollment projected by the school board.
        (v) The principal amount of the bonds, including
    existing indebtedness, does not exceed 20% of the equalized
    assessed value of the taxable property in the district.
        (vi) The bonds are issued prior to January 1, 2007,
    pursuant to Sections 19-2 through 19-7 of this Code.
    (p-15) In addition to all other authority to issue bonds,
the Oswego Community Unit School District Number 308 may issue
bonds with an aggregate principal amount not to exceed
$450,000,000, but only if all of the following conditions are
met:
        (i) The voters of the district have approved a
    proposition for the bond issue at the general election held
    on November 7, 2006.
        (ii) At the time of the sale of the bonds, the school
    board determines, by resolution, that: (A) the building and
    equipping of the new high school building, new junior high
    school buildings, new elementary school buildings, early
    childhood building, maintenance building, transportation
    facility, and additions to existing school buildings, the
    altering, repairing, equipping, and provision of
    technology improvements to existing school buildings, and
    the acquisition and improvement of school sites, as the
    case may be, are required as a result of a projected
    increase in the enrollment of students in the district; and
    (B) the sale of bonds for these purposes is authorized by
    legislation that exempts the debt incurred on the bonds
    from the district's statutory debt limitation.
        (iii) The bonds are issued, in one or more bond issues,
    on or before November 7, 2011, but the aggregate principal
    amount issued in all such bond issues combined must not
    exceed $450,000,000.
        (iv) The bonds are issued in accordance with this
    Article 19.
        (v) The proceeds of the bonds are used only to
    accomplish those projects approved by the voters at the
    general election held on November 7, 2006.
The debt incurred on any bonds issued under this subsection
(p-15) shall not be considered indebtedness for purposes of any
statutory debt limitation.
    (p-20) In addition to all other authority to issue bonds,
the Lincoln-Way Community High School District Number 210 may
issue bonds with an aggregate principal amount not to exceed
$225,000,000, but only if all of the following conditions are
met:
        (i) The voters of the district have approved a
    proposition for the bond issue at the general primary
    election held on March 21, 2006.
        (ii) At the time of the sale of the bonds, the school
    board determines, by resolution, that: (A) the building and
    equipping of the new high school buildings, the altering,
    repairing, and equipping of existing school buildings, and
    the improvement of school sites, as the case may be, are
    required as a result of a projected increase in the
    enrollment of students in the district; and (B) the sale of
    bonds for these purposes is authorized by legislation that
    exempts the debt incurred on the bonds from the district's
    statutory debt limitation.
        (iii) The bonds are issued, in one or more bond issues,
    on or before March 21, 2011, but the aggregate principal
    amount issued in all such bond issues combined must not
    exceed $225,000,000.
        (iv) The bonds are issued in accordance with this
    Article 19.
        (v) The proceeds of the bonds are used only to
    accomplish those projects approved by the voters at the
    primary election held on March 21, 2006.
The debt incurred on any bonds issued under this subsection
(p-20) shall not be considered indebtedness for purposes of any
statutory debt limitation.
    (p-25) In addition to all other authority to issue bonds,
Rochester Community Unit School District 3A may issue bonds
with an aggregate principal amount not to exceed $15,000,000,
but only if all of the following conditions are met:
        (i) The voters of the district approve a proposition
    for the bond issuance at the general primary election held
    in 2008.
        (ii) At the time of the sale of the bonds, the school
    board determines, by resolution, that: (A) the building and
    equipping of a new high school building; the addition of
    classrooms and support facilities at the high school,
    middle school, and elementary school; the altering,
    repairing, and equipping of existing school buildings; and
    the improvement of school sites, as the case may be, are
    required as a result of a projected increase in the
    enrollment of students in the district; and (B) the sale of
    bonds for these purposes is authorized by a law that
    exempts the debt incurred on the bonds from the district's
    statutory debt limitation.
        (iii) The bonds are issued, in one or more bond issues,
    on or before December 31, 2012, but the aggregate principal
    amount issued in all such bond issues combined must not
    exceed $15,000,000.
        (iv) The bonds are issued in accordance with this
    Article 19.
        (v) The proceeds of the bonds are used to accomplish
    only those projects approved by the voters at the primary
    election held in 2008.
The debt incurred on any bonds issued under this subsection
(p-25) shall not be considered indebtedness for purposes of any
statutory debt limitation.
    (p-30) In addition to all other authority to issue bonds,
Prairie Grove Consolidated School District 46 may issue bonds
with an aggregate principal amount not to exceed $30,000,000,
but only if all of the following conditions are met:
        (i) The voters of the district approve a proposition
    for the bond issuance at an election held in 2008.
        (ii) At the time of the sale of the bonds, the school
    board determines, by resolution, that (A) the building and
    equipping of a new school building and additions to
    existing school buildings are required as a result of a
    projected increase in the enrollment of students in the
    district and (B) the altering, repairing, and equipping of
    existing school buildings are required because of the age
    of the existing school buildings.
        (iii) The bonds are issued, in one or more bond
    issuances, on or before December 31, 2012; however, the
    aggregate principal amount issued in all such bond
    issuances combined must not exceed $30,000,000.
        (iv) The bonds are issued in accordance with this
    Article.
        (v) The proceeds of the bonds are used to accomplish
    only those projects approved by the voters at an election
    held in 2008.
The debt incurred on any bonds issued under this subsection
(p-30) shall not be considered indebtedness for purposes of any
statutory debt limitation.
    (p-35) In addition to all other authority to issue bonds,
Prairie Hill Community Consolidated School District 133 may
issue bonds with an aggregate principal amount not to exceed
$13,900,000, but only if all of the following conditions are
met:
        (i) The voters of the district approved a proposition
    for the bond issuance at an election held on April 17,
    2007.
        (ii) At the time of the sale of the bonds, the school
    board determines, by resolution, that (A) the improvement
    of the site of and the building and equipping of a school
    building are required as a result of a projected increase
    in the enrollment of students in the district and (B) the
    repairing and equipping of the Prairie Hill Elementary
    School building is required because of the age of that
    school building.
        (iii) The bonds are issued, in one or more bond
    issuances, on or before December 31, 2011, but the
    aggregate principal amount issued in all such bond
    issuances combined must not exceed $13,900,000.
        (iv) The bonds are issued in accordance with this
    Article.
        (v) The proceeds of the bonds are used to accomplish
    only those projects approved by the voters at an election
    held on April 17, 2007.
The debt incurred on any bonds issued under this subsection
(p-35) shall not be considered indebtedness for purposes of any
statutory debt limitation.
    (q) A school district must notify the State Board of
Education prior to issuing any form of long-term or short-term
debt that will result in outstanding debt that exceeds 75% of
the debt limit specified in this Section or any other provision
of law.
(Source: P.A. 93-13, eff. 6-9-03; 93-799, eff. 7-22-04;
93-1045, eff. 10-15-04; 94-234, eff. 7-1-06; 94-721, eff.
1-6-06; 94-952, eff. 6-27-06; 94-1019, eff. 7-10-06; 94-1078,
eff. 1-9-07.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 9/10/2007