Rep. John Cavaletto

Filed: 11/30/2016

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 514

2    AMENDMENT NO. ______. Amend Senate Bill 514, AS AMENDED, as
3follows:
 
4immediately above Section 5, by inserting the following:
 
5    "Section 3. The Local Government Debt Reform Act is amended
6by changing Section 17.5 as follows:
 
7    (30 ILCS 350/17.5)
8    Sec. 17.5. Bond authorization by referendum.
9    (a) Whenever applicable law provides that the
10authorization of or the issuance of bonds is subject to either
11a referendum or backdoor referendum, the approval, once
12obtained, remains (i) for 5 years after the date of the
13referendum or (ii) for 3 years after the end of the petition
14period for a backdoor referendum. However, whenever the
15applicable law provides that the authorization of or the

 

 

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1issuance of bonds under the Water Pollution Control Loan
2Program or the Public Water Supply Loan Program, under Title
3IV-A of the Environmental Protection Act, is subject to either
4a referendum or backdoor referendum, the approval, once
5obtained, remains (i) for 7 years after the date of the
6referendum or (ii) for 5 years after the end of the petition
7period for a backdoor referendum. In the case of bonds
8authorized to be issued under the Downstate Forest Preserve
9District Act and approved by Lake County voters in a November
102008 referendum or in the case of bonds authorized to be issued
11under the School Code and approved by voters of Sandoval
12Community Unit School District 501 in a March 2012 referendum,
13the approval, once obtained, remains for 10 years after the
14date of the referendum. In the case of bonds authorized to be
15issued under the Counties Code and approved by Jackson County
16voters in a 1994 referendum, of which less than $200,000 of the
17original bonds have been issued, and for which the purpose of
18the bonds is flooding prevention, the approval, once obtained,
19remains for 25 years after the date of the referendum.
20    (b) With respect to any bond approval under subsection (a),
21if, for any reason, the bonds are not issued because of a court
22action, then the time limits set forth under subsection (a) for
23the approval for the bonds is tolled during the time that the
24court action is pending. This subsection (b) applies to any
25bond issuance approved by referendum held on or after January
261, 2003 or by a backdoor referendum held on or after January 1,

 

 

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12005.
2(Source: P.A. 97-364, eff. 8-15-11; 98-655, eff. 6-18-14.)";
3and
 
4in Section 5, in the introductory clause, by replacing "Section
517-2A" with "Sections 17-2A and 19-1"; and
 
6in Section 5, immediately below the end of Sec. 17-2A, by
7inserting the following:
 
8    "(105 ILCS 5/19-1)
9    Sec. 19-1. Debt limitations of school districts.
10    (a) School districts shall not be subject to the provisions
11limiting their indebtedness prescribed in the Local Government
12Debt Limitation Act.
13    No school districts maintaining grades K through 8 or 9
14through 12 shall become indebted in any manner or for any
15purpose to an amount, including existing indebtedness, in the
16aggregate exceeding 6.9% on the value of the taxable property
17therein to be ascertained by the last assessment for State and
18county taxes or, until January 1, 1983, if greater, the sum
19that is produced by multiplying the school district's 1978
20equalized assessed valuation by the debt limitation percentage
21in effect on January 1, 1979, previous to the incurring of such
22indebtedness.
23    No school districts maintaining grades K through 12 shall

 

 

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1become indebted in any manner or for any purpose to an amount,
2including existing indebtedness, in the aggregate exceeding
313.8% on the value of the taxable property therein to be
4ascertained by the last assessment for State and county taxes
5or, until January 1, 1983, if greater, the sum that is produced
6by multiplying the school district's 1978 equalized assessed
7valuation by the debt limitation percentage in effect on
8January 1, 1979, previous to the incurring of such
9indebtedness.
10    No partial elementary unit district, as defined in Article
1111E of this Code, shall become indebted in any manner or for
12any purpose in an amount, including existing indebtedness, in
13the aggregate exceeding 6.9% of the value of the taxable
14property of the entire district, to be ascertained by the last
15assessment for State and county taxes, plus an amount,
16including existing indebtedness, in the aggregate exceeding
176.9% of the value of the taxable property of that portion of
18the district included in the elementary and high school
19classification, to be ascertained by the last assessment for
20State and county taxes. Moreover, no partial elementary unit
21district, as defined in Article 11E of this Code, shall become
22indebted on account of bonds issued by the district for high
23school purposes in the aggregate exceeding 6.9% of the value of
24the taxable property of the entire district, to be ascertained
25by the last assessment for State and county taxes, nor shall
26the district become indebted on account of bonds issued by the

 

 

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1district for elementary purposes in the aggregate exceeding
26.9% of the value of the taxable property for that portion of
3the district included in the elementary and high school
4classification, to be ascertained by the last assessment for
5State and county taxes.
6    Notwithstanding the provisions of any other law to the
7contrary, in any case in which the voters of a school district
8have approved a proposition for the issuance of bonds of such
9school district at an election held prior to January 1, 1979,
10and all of the bonds approved at such election have not been
11issued, the debt limitation applicable to such school district
12during the calendar year 1979 shall be computed by multiplying
13the value of taxable property therein, including personal
14property, as ascertained by the last assessment for State and
15county taxes, previous to the incurring of such indebtedness,
16by the percentage limitation applicable to such school district
17under the provisions of this subsection (a).
18    (b) Notwithstanding the debt limitation prescribed in
19subsection (a) of this Section, additional indebtedness may be
20incurred in an amount not to exceed the estimated cost of
21acquiring or improving school sites or constructing and
22equipping additional building facilities under the following
23conditions:
24        (1) Whenever the enrollment of students for the next
25    school year is estimated by the board of education to
26    increase over the actual present enrollment by not less

 

 

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1    than 35% or by not less than 200 students or the actual
2    present enrollment of students has increased over the
3    previous school year by not less than 35% or by not less
4    than 200 students and the board of education determines
5    that additional school sites or building facilities are
6    required as a result of such increase in enrollment; and
7        (2) When the Regional Superintendent of Schools having
8    jurisdiction over the school district and the State
9    Superintendent of Education concur in such enrollment
10    projection or increase and approve the need for such
11    additional school sites or building facilities and the
12    estimated cost thereof; and
13        (3) When the voters in the school district approve a
14    proposition for the issuance of bonds for the purpose of
15    acquiring or improving such needed school sites or
16    constructing and equipping such needed additional building
17    facilities at an election called and held for that purpose.
18    Notice of such an election shall state that the amount of
19    indebtedness proposed to be incurred would exceed the debt
20    limitation otherwise applicable to the school district.
21    The ballot for such proposition shall state what percentage
22    of the equalized assessed valuation will be outstanding in
23    bonds if the proposed issuance of bonds is approved by the
24    voters; or
25        (4) Notwithstanding the provisions of paragraphs (1)
26    through (3) of this subsection (b), if the school board

 

 

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1    determines that additional facilities are needed to
2    provide a quality educational program and not less than 2/3
3    of those voting in an election called by the school board
4    on the question approve the issuance of bonds for the
5    construction of such facilities, the school district may
6    issue bonds for this purpose; or
7        (5) Notwithstanding the provisions of paragraphs (1)
8    through (3) of this subsection (b), if (i) the school
9    district has previously availed itself of the provisions of
10    paragraph (4) of this subsection (b) to enable it to issue
11    bonds, (ii) the voters of the school district have not
12    defeated a proposition for the issuance of bonds since the
13    referendum described in paragraph (4) of this subsection
14    (b) was held, (iii) the school board determines that
15    additional facilities are needed to provide a quality
16    educational program, and (iv) a majority of those voting in
17    an election called by the school board on the question
18    approve the issuance of bonds for the construction of such
19    facilities, the school district may issue bonds for this
20    purpose.
21    In no event shall the indebtedness incurred pursuant to
22this subsection (b) and the existing indebtedness of the school
23district exceed 15% of the value of the taxable property
24therein to be ascertained by the last assessment for State and
25county taxes, previous to the incurring of such indebtedness
26or, until January 1, 1983, if greater, the sum that is produced

 

 

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1by multiplying the school district's 1978 equalized assessed
2valuation by the debt limitation percentage in effect on
3January 1, 1979.
4    The indebtedness provided for by this subsection (b) shall
5be in addition to and in excess of any other debt limitation.
6    (c) Notwithstanding the debt limitation prescribed in
7subsection (a) of this Section, in any case in which a public
8question for the issuance of bonds of a proposed school
9district maintaining grades kindergarten through 12 received
10at least 60% of the valid ballots cast on the question at an
11election held on or prior to November 8, 1994, and in which the
12bonds approved at such election have not been issued, the
13school district pursuant to the requirements of Section 11A-10
14(now repealed) may issue the total amount of bonds approved at
15such election for the purpose stated in the question.
16    (d) Notwithstanding the debt limitation prescribed in
17subsection (a) of this Section, a school district that meets
18all the criteria set forth in paragraphs (1) and (2) of this
19subsection (d) may incur an additional indebtedness in an
20amount not to exceed $4,500,000, even though the amount of the
21additional indebtedness authorized by this subsection (d),
22when incurred and added to the aggregate amount of indebtedness
23of the district existing immediately prior to the district
24incurring the additional indebtedness authorized by this
25subsection (d), causes the aggregate indebtedness of the
26district to exceed the debt limitation otherwise applicable to

 

 

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1that district under subsection (a):
2        (1) The additional indebtedness authorized by this
3    subsection (d) is incurred by the school district through
4    the issuance of bonds under and in accordance with Section
5    17-2.11a for the purpose of replacing a school building
6    which, because of mine subsidence damage, has been closed
7    as provided in paragraph (2) of this subsection (d) or
8    through the issuance of bonds under and in accordance with
9    Section 19-3 for the purpose of increasing the size of, or
10    providing for additional functions in, such replacement
11    school buildings, or both such purposes.
12        (2) The bonds issued by the school district as provided
13    in paragraph (1) above are issued for the purposes of
14    construction by the school district of a new school
15    building pursuant to Section 17-2.11, to replace an
16    existing school building that, because of mine subsidence
17    damage, is closed as of the end of the 1992-93 school year
18    pursuant to action of the regional superintendent of
19    schools of the educational service region in which the
20    district is located under Section 3-14.22 or are issued for
21    the purpose of increasing the size of, or providing for
22    additional functions in, the new school building being
23    constructed to replace a school building closed as the
24    result of mine subsidence damage, or both such purposes.
25    (e) (Blank).
26    (f) Notwithstanding the provisions of subsection (a) of

 

 

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1this Section or of any other law, bonds in not to exceed the
2aggregate amount of $5,500,000 and issued by a school district
3meeting the following criteria shall not be considered
4indebtedness for purposes of any statutory limitation and may
5be issued in an amount or amounts, including existing
6indebtedness, in excess of any heretofore or hereafter imposed
7statutory limitation as to indebtedness:
8        (1) At the time of the sale of such bonds, the board of
9    education of the district shall have determined by
10    resolution that the enrollment of students in the district
11    is projected to increase by not less than 7% during each of
12    the next succeeding 2 school years.
13        (2) The board of education shall also determine by
14    resolution that the improvements to be financed with the
15    proceeds of the bonds are needed because of the projected
16    enrollment increases.
17        (3) The board of education shall also determine by
18    resolution that the projected increases in enrollment are
19    the result of improvements made or expected to be made to
20    passenger rail facilities located in the school district.
21    Notwithstanding the provisions of subsection (a) of this
22Section or of any other law, a school district that has availed
23itself of the provisions of this subsection (f) prior to July
2422, 2004 (the effective date of Public Act 93-799) may also
25issue bonds approved by referendum up to an amount, including
26existing indebtedness, not exceeding 25% of the equalized

 

 

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1assessed value of the taxable property in the district if all
2of the conditions set forth in items (1), (2), and (3) of this
3subsection (f) are met.
4    (g) Notwithstanding the provisions of subsection (a) of
5this Section or any other law, bonds in not to exceed an
6aggregate amount of 25% of the equalized assessed value of the
7taxable property of a school district and issued by a school
8district meeting the criteria in paragraphs (i) through (iv) of
9this subsection shall not be considered indebtedness for
10purposes of any statutory limitation and may be issued pursuant
11to resolution of the school board in an amount or amounts,
12including existing indebtedness, in excess of any statutory
13limitation of indebtedness heretofore or hereafter imposed:
14        (i) The bonds are issued for the purpose of
15    constructing a new high school building to replace two
16    adjacent existing buildings which together house a single
17    high school, each of which is more than 65 years old, and
18    which together are located on more than 10 acres and less
19    than 11 acres of property.
20        (ii) At the time the resolution authorizing the
21    issuance of the bonds is adopted, the cost of constructing
22    a new school building to replace the existing school
23    building is less than 60% of the cost of repairing the
24    existing school building.
25        (iii) The sale of the bonds occurs before July 1, 1997.
26        (iv) The school district issuing the bonds is a unit

 

 

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1    school district located in a county of less than 70,000 and
2    more than 50,000 inhabitants, which has an average daily
3    attendance of less than 1,500 and an equalized assessed
4    valuation of less than $29,000,000.
5    (h) Notwithstanding any other provisions of this Section or
6the provisions of any other law, until January 1, 1998, a
7community unit school district maintaining grades K through 12
8may issue bonds up to an amount, including existing
9indebtedness, not exceeding 27.6% of the equalized assessed
10value of the taxable property in the district, if all of the
11following conditions are met:
12        (i) The school district has an equalized assessed
13    valuation for calendar year 1995 of less than $24,000,000;
14        (ii) The bonds are issued for the capital improvement,
15    renovation, rehabilitation, or replacement of existing
16    school buildings of the district, all of which buildings
17    were originally constructed not less than 40 years ago;
18        (iii) The voters of the district approve a proposition
19    for the issuance of the bonds at a referendum held after
20    March 19, 1996; and
21        (iv) The bonds are issued pursuant to Sections 19-2
22    through 19-7 of this Code.
23    (i) Notwithstanding any other provisions of this Section or
24the provisions of any other law, until January 1, 1998, a
25community unit school district maintaining grades K through 12
26may issue bonds up to an amount, including existing

 

 

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1indebtedness, not exceeding 27% of the equalized assessed value
2of the taxable property in the district, if all of the
3following conditions are met:
4        (i) The school district has an equalized assessed
5    valuation for calendar year 1995 of less than $44,600,000;
6        (ii) The bonds are issued for the capital improvement,
7    renovation, rehabilitation, or replacement of existing
8    school buildings of the district, all of which existing
9    buildings were originally constructed not less than 80
10    years ago;
11        (iii) The voters of the district approve a proposition
12    for the issuance of the bonds at a referendum held after
13    December 31, 1996; and
14        (iv) The bonds are issued pursuant to Sections 19-2
15    through 19-7 of this Code.
16    (j) Notwithstanding any other provisions of this Section or
17the provisions of any other law, until January 1, 1999, a
18community unit school district maintaining grades K through 12
19may issue bonds up to an amount, including existing
20indebtedness, not exceeding 27% of the equalized assessed value
21of the taxable property in the district if all of the following
22conditions are met:
23        (i) The school district has an equalized assessed
24    valuation for calendar year 1995 of less than $140,000,000
25    and a best 3 months average daily attendance for the
26    1995-96 school year of at least 2,800;

 

 

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1        (ii) The bonds are issued to purchase a site and build
2    and equip a new high school, and the school district's
3    existing high school was originally constructed not less
4    than 35 years prior to the sale of the bonds;
5        (iii) At the time of the sale of the bonds, the board
6    of education determines by resolution that a new high
7    school is needed because of projected enrollment
8    increases;
9        (iv) At least 60% of those voting in an election held
10    after December 31, 1996 approve a proposition for the
11    issuance of the bonds; and
12        (v) The bonds are issued pursuant to Sections 19-2
13    through 19-7 of this Code.
14    (k) Notwithstanding the debt limitation prescribed in
15subsection (a) of this Section, a school district that meets
16all the criteria set forth in paragraphs (1) through (4) of
17this subsection (k) may issue bonds to incur an additional
18indebtedness in an amount not to exceed $4,000,000 even though
19the amount of the additional indebtedness authorized by this
20subsection (k), when incurred and added to the aggregate amount
21of indebtedness of the school district existing immediately
22prior to the school district incurring such additional
23indebtedness, causes the aggregate indebtedness of the school
24district to exceed or increases the amount by which the
25aggregate indebtedness of the district already exceeds the debt
26limitation otherwise applicable to that school district under

 

 

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1subsection (a):
2        (1) the school district is located in 2 counties, and a
3    referendum to authorize the additional indebtedness was
4    approved by a majority of the voters of the school district
5    voting on the proposition to authorize that indebtedness;
6        (2) the additional indebtedness is for the purpose of
7    financing a multi-purpose room addition to the existing
8    high school;
9        (3) the additional indebtedness, together with the
10    existing indebtedness of the school district, shall not
11    exceed 17.4% of the value of the taxable property in the
12    school district, to be ascertained by the last assessment
13    for State and county taxes; and
14        (4) the bonds evidencing the additional indebtedness
15    are issued, if at all, within 120 days of August 14, 1998
16    (the effective date of Public Act 90-757).
17    (l) Notwithstanding any other provisions of this Section or
18the provisions of any other law, until January 1, 2000, a
19school district maintaining grades kindergarten through 8 may
20issue bonds up to an amount, including existing indebtedness,
21not exceeding 15% of the equalized assessed value of the
22taxable property in the district if all of the following
23conditions are met:
24        (i) the district has an equalized assessed valuation
25    for calendar year 1996 of less than $10,000,000;
26        (ii) the bonds are issued for capital improvement,

 

 

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1    renovation, rehabilitation, or replacement of one or more
2    school buildings of the district, which buildings were
3    originally constructed not less than 70 years ago;
4        (iii) the voters of the district approve a proposition
5    for the issuance of the bonds at a referendum held on or
6    after March 17, 1998; and
7        (iv) the bonds are issued pursuant to Sections 19-2
8    through 19-7 of this Code.
9    (m) Notwithstanding any other provisions of this Section or
10the provisions of any other law, until January 1, 1999, an
11elementary school district maintaining grades K through 8 may
12issue bonds up to an amount, excluding existing indebtedness,
13not exceeding 18% of the equalized assessed value of the
14taxable property in the district, if all of the following
15conditions are met:
16        (i) The school district has an equalized assessed
17    valuation for calendar year 1995 or less than $7,700,000;
18        (ii) The school district operates 2 elementary
19    attendance centers that until 1976 were operated as the
20    attendance centers of 2 separate and distinct school
21    districts;
22        (iii) The bonds are issued for the construction of a
23    new elementary school building to replace an existing
24    multi-level elementary school building of the school
25    district that is not accessible at all levels and parts of
26    which were constructed more than 75 years ago;

 

 

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1        (iv) The voters of the school district approve a
2    proposition for the issuance of the bonds at a referendum
3    held after July 1, 1998; and
4        (v) The bonds are issued pursuant to Sections 19-2
5    through 19-7 of this Code.
6    (n) Notwithstanding the debt limitation prescribed in
7subsection (a) of this Section or any other provisions of this
8Section or of any other law, a school district that meets all
9of the criteria set forth in paragraphs (i) through (vi) of
10this subsection (n) may incur additional indebtedness by the
11issuance of bonds in an amount not exceeding the amount
12certified by the Capital Development Board to the school
13district as provided in paragraph (iii) of this subsection (n),
14even though the amount of the additional indebtedness so
15authorized, when incurred and added to the aggregate amount of
16indebtedness of the district existing immediately prior to the
17district incurring the additional indebtedness authorized by
18this subsection (n), causes the aggregate indebtedness of the
19district to exceed the debt limitation otherwise applicable by
20law to that district:
21        (i) The school district applies to the State Board of
22    Education for a school construction project grant and
23    submits a district facilities plan in support of its
24    application pursuant to Section 5-20 of the School
25    Construction Law.
26        (ii) The school district's application and facilities

 

 

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1    plan are approved by, and the district receives a grant
2    entitlement for a school construction project issued by,
3    the State Board of Education under the School Construction
4    Law.
5        (iii) The school district has exhausted its bonding
6    capacity or the unused bonding capacity of the district is
7    less than the amount certified by the Capital Development
8    Board to the district under Section 5-15 of the School
9    Construction Law as the dollar amount of the school
10    construction project's cost that the district will be
11    required to finance with non-grant funds in order to
12    receive a school construction project grant under the
13    School Construction Law.
14        (iv) The bonds are issued for a "school construction
15    project", as that term is defined in Section 5-5 of the
16    School Construction Law, in an amount that does not exceed
17    the dollar amount certified, as provided in paragraph (iii)
18    of this subsection (n), by the Capital Development Board to
19    the school district under Section 5-15 of the School
20    Construction Law.
21        (v) The voters of the district approve a proposition
22    for the issuance of the bonds at a referendum held after
23    the criteria specified in paragraphs (i) and (iii) of this
24    subsection (n) are met.
25        (vi) The bonds are issued pursuant to Sections 19-2
26    through 19-7 of the School Code.

 

 

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1    (o) Notwithstanding any other provisions of this Section or
2the provisions of any other law, until November 1, 2007, a
3community unit school district maintaining grades K through 12
4may issue bonds up to an amount, including existing
5indebtedness, not exceeding 20% of the equalized assessed value
6of the taxable property in the district if all of the following
7conditions are met:
8        (i) the school district has an equalized assessed
9    valuation for calendar year 2001 of at least $737,000,000
10    and an enrollment for the 2002-2003 school year of at least
11    8,500;
12        (ii) the bonds are issued to purchase school sites,
13    build and equip a new high school, build and equip a new
14    junior high school, build and equip 5 new elementary
15    schools, and make technology and other improvements and
16    additions to existing schools;
17        (iii) at the time of the sale of the bonds, the board
18    of education determines by resolution that the sites and
19    new or improved facilities are needed because of projected
20    enrollment increases;
21        (iv) at least 57% of those voting in a general election
22    held prior to January 1, 2003 approved a proposition for
23    the issuance of the bonds; and
24        (v) the bonds are issued pursuant to Sections 19-2
25    through 19-7 of this Code.
26    (p) Notwithstanding any other provisions of this Section or

 

 

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1the provisions of any other law, a community unit school
2district maintaining grades K through 12 may issue bonds up to
3an amount, including indebtedness, not exceeding 27% of the
4equalized assessed value of the taxable property in the
5district if all of the following conditions are met:
6        (i) The school district has an equalized assessed
7    valuation for calendar year 2001 of at least $295,741,187
8    and a best 3 months' average daily attendance for the
9    2002-2003 school year of at least 2,394.
10        (ii) The bonds are issued to build and equip 3
11    elementary school buildings; build and equip one middle
12    school building; and alter, repair, improve, and equip all
13    existing school buildings in the district.
14        (iii) At the time of the sale of the bonds, the board
15    of education determines by resolution that the project is
16    needed because of expanding growth in the school district
17    and a projected enrollment increase.
18        (iv) The bonds are issued pursuant to Sections 19-2
19    through 19-7 of this Code.
20    (p-5) Notwithstanding any other provisions of this Section
21or the provisions of any other law, bonds issued by a community
22unit school district maintaining grades K through 12 shall not
23be considered indebtedness for purposes of any statutory
24limitation and may be issued in an amount or amounts, including
25existing indebtedness, in excess of any heretofore or hereafter
26imposed statutory limitation as to indebtedness, if all of the

 

 

09900SB0514ham002- 21 -LRB099 03081 MLM 51798 a

1following conditions are met:
2        (i) For each of the 4 most recent years, residential
3    property comprises more than 80% of the equalized assessed
4    valuation of the district.
5        (ii) At least 2 school buildings that were constructed
6    40 or more years prior to the issuance of the bonds will be
7    demolished and will be replaced by new buildings or
8    additions to one or more existing buildings.
9        (iii) Voters of the district approve a proposition for
10    the issuance of the bonds at a regularly scheduled
11    election.
12        (iv) At the time of the sale of the bonds, the school
13    board determines by resolution that the new buildings or
14    building additions are needed because of an increase in
15    enrollment projected by the school board.
16        (v) The principal amount of the bonds, including
17    existing indebtedness, does not exceed 25% of the equalized
18    assessed value of the taxable property in the district.
19        (vi) The bonds are issued prior to January 1, 2007,
20    pursuant to Sections 19-2 through 19-7 of this Code.
21    (p-10) Notwithstanding any other provisions of this
22Section or the provisions of any other law, bonds issued by a
23community consolidated school district maintaining grades K
24through 8 shall not be considered indebtedness for purposes of
25any statutory limitation and may be issued in an amount or
26amounts, including existing indebtedness, in excess of any

 

 

09900SB0514ham002- 22 -LRB099 03081 MLM 51798 a

1heretofore or hereafter imposed statutory limitation as to
2indebtedness, if all of the following conditions are met:
3        (i) For each of the 4 most recent years, residential
4    and farm property comprises more than 80% of the equalized
5    assessed valuation of the district.
6        (ii) The bond proceeds are to be used to acquire and
7    improve school sites and build and equip a school building.
8        (iii) Voters of the district approve a proposition for
9    the issuance of the bonds at a regularly scheduled
10    election.
11        (iv) At the time of the sale of the bonds, the school
12    board determines by resolution that the school sites and
13    building additions are needed because of an increase in
14    enrollment projected by the school board.
15        (v) The principal amount of the bonds, including
16    existing indebtedness, does not exceed 20% of the equalized
17    assessed value of the taxable property in the district.
18        (vi) The bonds are issued prior to January 1, 2007,
19    pursuant to Sections 19-2 through 19-7 of this Code.
20    (p-15) In addition to all other authority to issue bonds,
21the Oswego Community Unit School District Number 308 may issue
22bonds with an aggregate principal amount not to exceed
23$450,000,000, but only if all of the following conditions are
24met:
25        (i) The voters of the district have approved a
26    proposition for the bond issue at the general election held

 

 

09900SB0514ham002- 23 -LRB099 03081 MLM 51798 a

1    on November 7, 2006.
2        (ii) At the time of the sale of the bonds, the school
3    board determines, by resolution, that: (A) the building and
4    equipping of the new high school building, new junior high
5    school buildings, new elementary school buildings, early
6    childhood building, maintenance building, transportation
7    facility, and additions to existing school buildings, the
8    altering, repairing, equipping, and provision of
9    technology improvements to existing school buildings, and
10    the acquisition and improvement of school sites, as the
11    case may be, are required as a result of a projected
12    increase in the enrollment of students in the district; and
13    (B) the sale of bonds for these purposes is authorized by
14    legislation that exempts the debt incurred on the bonds
15    from the district's statutory debt limitation.
16        (iii) The bonds are issued, in one or more bond issues,
17    on or before November 7, 2011, but the aggregate principal
18    amount issued in all such bond issues combined must not
19    exceed $450,000,000.
20        (iv) The bonds are issued in accordance with this
21    Article 19.
22        (v) The proceeds of the bonds are used only to
23    accomplish those projects approved by the voters at the
24    general election held on November 7, 2006.
25The debt incurred on any bonds issued under this subsection
26(p-15) shall not be considered indebtedness for purposes of any

 

 

09900SB0514ham002- 24 -LRB099 03081 MLM 51798 a

1statutory debt limitation.
2    (p-20) In addition to all other authority to issue bonds,
3the Lincoln-Way Community High School District Number 210 may
4issue bonds with an aggregate principal amount not to exceed
5$225,000,000, but only if all of the following conditions are
6met:
7        (i) The voters of the district have approved a
8    proposition for the bond issue at the general primary
9    election held on March 21, 2006.
10        (ii) At the time of the sale of the bonds, the school
11    board determines, by resolution, that: (A) the building and
12    equipping of the new high school buildings, the altering,
13    repairing, and equipping of existing school buildings, and
14    the improvement of school sites, as the case may be, are
15    required as a result of a projected increase in the
16    enrollment of students in the district; and (B) the sale of
17    bonds for these purposes is authorized by legislation that
18    exempts the debt incurred on the bonds from the district's
19    statutory debt limitation.
20        (iii) The bonds are issued, in one or more bond issues,
21    on or before March 21, 2011, but the aggregate principal
22    amount issued in all such bond issues combined must not
23    exceed $225,000,000.
24        (iv) The bonds are issued in accordance with this
25    Article 19.
26        (v) The proceeds of the bonds are used only to

 

 

09900SB0514ham002- 25 -LRB099 03081 MLM 51798 a

1    accomplish those projects approved by the voters at the
2    primary election held on March 21, 2006.
3The debt incurred on any bonds issued under this subsection
4(p-20) shall not be considered indebtedness for purposes of any
5statutory debt limitation.
6    (p-25) In addition to all other authority to issue bonds,
7Rochester Community Unit School District 3A may issue bonds
8with an aggregate principal amount not to exceed $18,500,000,
9but only if all of the following conditions are met:
10        (i) The voters of the district approve a proposition
11    for the bond issuance at the general primary election held
12    in 2008.
13        (ii) At the time of the sale of the bonds, the school
14    board determines, by resolution, that: (A) the building and
15    equipping of a new high school building; the addition of
16    classrooms and support facilities at the high school,
17    middle school, and elementary school; the altering,
18    repairing, and equipping of existing school buildings; and
19    the improvement of school sites, as the case may be, are
20    required as a result of a projected increase in the
21    enrollment of students in the district; and (B) the sale of
22    bonds for these purposes is authorized by a law that
23    exempts the debt incurred on the bonds from the district's
24    statutory debt limitation.
25        (iii) The bonds are issued, in one or more bond issues,
26    on or before December 31, 2012, but the aggregate principal

 

 

09900SB0514ham002- 26 -LRB099 03081 MLM 51798 a

1    amount issued in all such bond issues combined must not
2    exceed $18,500,000.
3        (iv) The bonds are issued in accordance with this
4    Article 19.
5        (v) The proceeds of the bonds are used to accomplish
6    only those projects approved by the voters at the primary
7    election held in 2008.
8The debt incurred on any bonds issued under this subsection
9(p-25) shall not be considered indebtedness for purposes of any
10statutory debt limitation.
11    (p-30) In addition to all other authority to issue bonds,
12Prairie Grove Consolidated School District 46 may issue bonds
13with an aggregate principal amount not to exceed $30,000,000,
14but only if all of the following conditions are met:
15        (i) The voters of the district approve a proposition
16    for the bond issuance at an election held in 2008.
17        (ii) At the time of the sale of the bonds, the school
18    board determines, by resolution, that (A) the building and
19    equipping of a new school building and additions to
20    existing school buildings are required as a result of a
21    projected increase in the enrollment of students in the
22    district and (B) the altering, repairing, and equipping of
23    existing school buildings are required because of the age
24    of the existing school buildings.
25        (iii) The bonds are issued, in one or more bond
26    issuances, on or before December 31, 2012; however, the

 

 

09900SB0514ham002- 27 -LRB099 03081 MLM 51798 a

1    aggregate principal amount issued in all such bond
2    issuances combined must not exceed $30,000,000.
3        (iv) The bonds are issued in accordance with this
4    Article.
5        (v) The proceeds of the bonds are used to accomplish
6    only those projects approved by the voters at an election
7    held in 2008.
8The debt incurred on any bonds issued under this subsection
9(p-30) shall not be considered indebtedness for purposes of any
10statutory debt limitation.
11    (p-35) In addition to all other authority to issue bonds,
12Prairie Hill Community Consolidated School District 133 may
13issue bonds with an aggregate principal amount not to exceed
14$13,900,000, but only if all of the following conditions are
15met:
16        (i) The voters of the district approved a proposition
17    for the bond issuance at an election held on April 17,
18    2007.
19        (ii) At the time of the sale of the bonds, the school
20    board determines, by resolution, that (A) the improvement
21    of the site of and the building and equipping of a school
22    building are required as a result of a projected increase
23    in the enrollment of students in the district and (B) the
24    repairing and equipping of the Prairie Hill Elementary
25    School building is required because of the age of that
26    school building.

 

 

09900SB0514ham002- 28 -LRB099 03081 MLM 51798 a

1        (iii) The bonds are issued, in one or more bond
2    issuances, on or before December 31, 2011, but the
3    aggregate principal amount issued in all such bond
4    issuances combined must not exceed $13,900,000.
5        (iv) The bonds are issued in accordance with this
6    Article.
7        (v) The proceeds of the bonds are used to accomplish
8    only those projects approved by the voters at an election
9    held on April 17, 2007.
10The debt incurred on any bonds issued under this subsection
11(p-35) shall not be considered indebtedness for purposes of any
12statutory debt limitation.
13    (p-40) In addition to all other authority to issue bonds,
14Mascoutah Community Unit District 19 may issue bonds with an
15aggregate principal amount not to exceed $55,000,000, but only
16if all of the following conditions are met:
17        (1) The voters of the district approve a proposition
18    for the bond issuance at a regular election held on or
19    after November 4, 2008.
20        (2) At the time of the sale of the bonds, the school
21    board determines, by resolution, that (i) the building and
22    equipping of a new high school building is required as a
23    result of a projected increase in the enrollment of
24    students in the district and the age and condition of the
25    existing high school building, (ii) the existing high
26    school building will be demolished, and (iii) the sale of

 

 

09900SB0514ham002- 29 -LRB099 03081 MLM 51798 a

1    bonds is authorized by statute that exempts the debt
2    incurred on the bonds from the district's statutory debt
3    limitation.
4        (3) The bonds are issued, in one or more bond
5    issuances, on or before December 31, 2011, but the
6    aggregate principal amount issued in all such bond
7    issuances combined must not exceed $55,000,000.
8        (4) The bonds are issued in accordance with this
9    Article.
10        (5) The proceeds of the bonds are used to accomplish
11    only those projects approved by the voters at a regular
12    election held on or after November 4, 2008.
13    The debt incurred on any bonds issued under this subsection
14(p-40) shall not be considered indebtedness for purposes of any
15statutory debt limitation.
16    (p-45) Notwithstanding the provisions of subsection (a) of
17this Section or of any other law, bonds issued pursuant to
18Section 19-3.5 of this Code shall not be considered
19indebtedness for purposes of any statutory limitation if the
20bonds are issued in an amount or amounts, including existing
21indebtedness of the school district, not in excess of 18.5% of
22the value of the taxable property in the district to be
23ascertained by the last assessment for State and county taxes.
24    (p-50) Notwithstanding the provisions of subsection (a) of
25this Section or of any other law, bonds issued pursuant to
26Section 19-3.10 of this Code shall not be considered

 

 

09900SB0514ham002- 30 -LRB099 03081 MLM 51798 a

1indebtedness for purposes of any statutory limitation if the
2bonds are issued in an amount or amounts, including existing
3indebtedness of the school district, not in excess of 43% of
4the value of the taxable property in the district to be
5ascertained by the last assessment for State and county taxes.
6    (p-55) In addition to all other authority to issue bonds,
7Belle Valley School District 119 may issue bonds with an
8aggregate principal amount not to exceed $47,500,000, but only
9if all of the following conditions are met:
10        (1) The voters of the district approve a proposition
11    for the bond issuance at an election held on or after April
12    7, 2009.
13        (2) Prior to the issuance of the bonds, the school
14    board determines, by resolution, that (i) the building and
15    equipping of a new school building is required as a result
16    of mine subsidence in an existing school building and
17    because of the age and condition of another existing school
18    building and (ii) the issuance of bonds is authorized by
19    statute that exempts the debt incurred on the bonds from
20    the district's statutory debt limitation.
21        (3) The bonds are issued, in one or more bond
22    issuances, on or before March 31, 2014, but the aggregate
23    principal amount issued in all such bond issuances combined
24    must not exceed $47,500,000.
25        (4) The bonds are issued in accordance with this
26    Article.

 

 

09900SB0514ham002- 31 -LRB099 03081 MLM 51798 a

1        (5) The proceeds of the bonds are used to accomplish
2    only those projects approved by the voters at an election
3    held on or after April 7, 2009.
4    The debt incurred on any bonds issued under this subsection
5(p-55) shall not be considered indebtedness for purposes of any
6statutory debt limitation. Bonds issued under this subsection
7(p-55) must mature within not to exceed 30 years from their
8date, notwithstanding any other law to the contrary.
9    (p-60) In addition to all other authority to issue bonds,
10Wilmington Community Unit School District Number 209-U may
11issue bonds with an aggregate principal amount not to exceed
12$2,285,000, but only if all of the following conditions are
13met:
14        (1) The proceeds of the bonds are used to accomplish
15    only those projects approved by the voters at the general
16    primary election held on March 21, 2006.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (i) the projects
19    approved by the voters were and are required because of the
20    age and condition of the school district's prior and
21    existing school buildings and (ii) the issuance of the
22    bonds is authorized by legislation that exempts the debt
23    incurred on the bonds from the district's statutory debt
24    limitation.
25        (3) The bonds are issued in one or more bond issuances
26    on or before March 1, 2011, but the aggregate principal

 

 

09900SB0514ham002- 32 -LRB099 03081 MLM 51798 a

1    amount issued in all those bond issuances combined must not
2    exceed $2,285,000.
3        (4) The bonds are issued in accordance with this
4    Article.
5    The debt incurred on any bonds issued under this subsection
6(p-60) shall not be considered indebtedness for purposes of any
7statutory debt limitation.
8    (p-65) In addition to all other authority to issue bonds,
9West Washington County Community Unit School District 10 may
10issue bonds with an aggregate principal amount not to exceed
11$32,200,000 and maturing over a period not exceeding 25 years,
12but only if all of the following conditions are met:
13        (1) The voters of the district approve a proposition
14    for the bond issuance at an election held on or after
15    February 2, 2010.
16        (2) Prior to the issuance of the bonds, the school
17    board determines, by resolution, that (A) all or a portion
18    of the existing Okawville Junior/Senior High School
19    Building will be demolished; (B) the building and equipping
20    of a new school building to be attached to and the
21    alteration, repair, and equipping of the remaining portion
22    of the Okawville Junior/Senior High School Building is
23    required because of the age and current condition of that
24    school building; and (C) the issuance of bonds is
25    authorized by a statute that exempts the debt incurred on
26    the bonds from the district's statutory debt limitation.

 

 

09900SB0514ham002- 33 -LRB099 03081 MLM 51798 a

1        (3) The bonds are issued, in one or more bond
2    issuances, on or before March 31, 2014, but the aggregate
3    principal amount issued in all such bond issuances combined
4    must not exceed $32,200,000.
5        (4) The bonds are issued in accordance with this
6    Article.
7        (5) The proceeds of the bonds are used to accomplish
8    only those projects approved by the voters at an election
9    held on or after February 2, 2010.
10    The debt incurred on any bonds issued under this subsection
11(p-65) shall not be considered indebtedness for purposes of any
12statutory debt limitation.
13    (p-70) In addition to all other authority to issue bonds,
14Cahokia Community Unit School District 187 may issue bonds with
15an aggregate principal amount not to exceed $50,000,000, but
16only if all the following conditions are met:
17        (1) The voters of the district approve a proposition
18    for the bond issuance at an election held on or after
19    November 2, 2010.
20        (2) Prior to the issuance of the bonds, the school
21    board determines, by resolution, that (i) the building and
22    equipping of a new school building is required as a result
23    of the age and condition of an existing school building and
24    (ii) the issuance of bonds is authorized by a statute that
25    exempts the debt incurred on the bonds from the district's
26    statutory debt limitation.

 

 

09900SB0514ham002- 34 -LRB099 03081 MLM 51798 a

1        (3) The bonds are issued, in one or more issuances, on
2    or before July 1, 2016, but the aggregate principal amount
3    issued in all such bond issuances combined must not exceed
4    $50,000,000.
5        (4) The bonds are issued in accordance with this
6    Article.
7        (5) The proceeds of the bonds are used to accomplish
8    only those projects approved by the voters at an election
9    held on or after November 2, 2010.
10    The debt incurred on any bonds issued under this subsection
11(p-70) shall not be considered indebtedness for purposes of any
12statutory debt limitation. Bonds issued under this subsection
13(p-70) must mature within not to exceed 25 years from their
14date, notwithstanding any other law, including Section 19-3 of
15this Code, to the contrary.
16    (p-75) Notwithstanding the debt limitation prescribed in
17subsection (a) of this Section or any other provisions of this
18Section or of any other law, the execution of leases on or
19after January 1, 2007 and before July 1, 2011 by the Board of
20Education of Peoria School District 150 with a public building
21commission for leases entered into pursuant to the Public
22Building Commission Act shall not be considered indebtedness
23for purposes of any statutory debt limitation.
24    This subsection (p-75) applies only if the State Board of
25Education or the Capital Development Board makes one or more
26grants to Peoria School District 150 pursuant to the School

 

 

09900SB0514ham002- 35 -LRB099 03081 MLM 51798 a

1Construction Law. The amount exempted from the debt limitation
2as prescribed in this subsection (p-75) shall be no greater
3than the amount of one or more grants awarded to Peoria School
4District 150 by the State Board of Education or the Capital
5Development Board.
6    (p-80) In addition to all other authority to issue bonds,
7Ridgeland School District 122 may issue bonds with an aggregate
8principal amount not to exceed $50,000,000 for the purpose of
9refunding or continuing to refund bonds originally issued
10pursuant to voter approval at the general election held on
11November 7, 2000, and the debt incurred on any bonds issued
12under this subsection (p-80) shall not be considered
13indebtedness for purposes of any statutory debt limitation.
14Bonds issued under this subsection (p-80) may be issued in one
15or more issuances and must mature within not to exceed 25 years
16from their date, notwithstanding any other law, including
17Section 19-3 of this Code, to the contrary.
18    (p-85) In addition to all other authority to issue bonds,
19Hall High School District 502 may issue bonds with an aggregate
20principal amount not to exceed $32,000,000, but only if all the
21following conditions are met:
22        (1) The voters of the district approve a proposition
23    for the bond issuance at an election held on or after April
24    9, 2013.
25        (2) Prior to the issuance of the bonds, the school
26    board determines, by resolution, that (i) the building and

 

 

09900SB0514ham002- 36 -LRB099 03081 MLM 51798 a

1    equipping of a new school building is required as a result
2    of the age and condition of an existing school building,
3    (ii) the existing school building should be demolished in
4    its entirety or the existing school building should be
5    demolished except for the 1914 west wing of the building,
6    and (iii) the issuance of bonds is authorized by a statute
7    that exempts the debt incurred on the bonds from the
8    district's statutory debt limitation.
9        (3) The bonds are issued, in one or more issuances, not
10    later than 5 years after the date of the referendum
11    approving the issuance of the bonds, but the aggregate
12    principal amount issued in all such bond issuances combined
13    must not exceed $32,000,000.
14        (4) The bonds are issued in accordance with this
15    Article.
16        (5) The proceeds of the bonds are used to accomplish
17    only those projects approved by the voters at an election
18    held on or after April 9, 2013.
19    The debt incurred on any bonds issued under this subsection
20(p-85) shall not be considered indebtedness for purposes of any
21statutory debt limitation. Bonds issued under this subsection
22(p-85) must mature within not to exceed 30 years from their
23date, notwithstanding any other law, including Section 19-3 of
24this Code, to the contrary.
25    (p-90) In addition to all other authority to issue bonds,
26Lebanon Community Unit School District 9 may issue bonds with

 

 

09900SB0514ham002- 37 -LRB099 03081 MLM 51798 a

1an aggregate principal amount not to exceed $7,500,000, but
2only if all of the following conditions are met:
3        (1) The voters of the district approved a proposition
4    for the bond issuance at the general primary election on
5    February 2, 2010.
6        (2) At or prior to the time of the sale of the bonds,
7    the school board determines, by resolution, that (i) the
8    building and equipping of a new elementary school building
9    is required as a result of a projected increase in the
10    enrollment of students in the district and the age and
11    condition of the existing Lebanon Elementary School
12    building, (ii) a portion of the existing Lebanon Elementary
13    School building will be demolished and the remaining
14    portion will be altered, repaired, and equipped, and (iii)
15    the sale of bonds is authorized by a statute that exempts
16    the debt incurred on the bonds from the district's
17    statutory debt limitation.
18        (3) The bonds are issued, in one or more bond
19    issuances, on or before April 1, 2014, but the aggregate
20    principal amount issued in all such bond issuances combined
21    must not exceed $7,500,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at the general
26    primary election held on February 2, 2010.

 

 

09900SB0514ham002- 38 -LRB099 03081 MLM 51798 a

1    The debt incurred on any bonds issued under this subsection
2(p-90) shall not be considered indebtedness for purposes of any
3statutory debt limitation.
4    (p-95) In addition to all other authority to issue bonds,
5Monticello Community Unit School District 25 may issue bonds
6with an aggregate principal amount not to exceed $35,000,000,
7but only if all of the following conditions are met:
8        (1) The voters of the district approve a proposition
9    for the bond issuance at an election held on or after
10    November 4, 2014.
11        (2) Prior to the issuance of the bonds, the school
12    board determines, by resolution, that (i) the building and
13    equipping of a new school building is required as a result
14    of the age and condition of an existing school building and
15    (ii) the issuance of bonds is authorized by a statute that
16    exempts the debt incurred on the bonds from the district's
17    statutory debt limitation.
18        (3) The bonds are issued, in one or more issuances, on
19    or before July 1, 2020, but the aggregate principal amount
20    issued in all such bond issuances combined must not exceed
21    $35,000,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at an election
26    held on or after November 4, 2014.

 

 

09900SB0514ham002- 39 -LRB099 03081 MLM 51798 a

1    The debt incurred on any bonds issued under this subsection
2(p-95) shall not be considered indebtedness for purposes of any
3statutory debt limitation. Bonds issued under this subsection
4(p-95) must mature within not to exceed 25 years from their
5date, notwithstanding any other law, including Section 19-3 of
6this Code, to the contrary.
7    (p-100) In addition to all other authority to issue bonds,
8the community unit school district created in the territory
9comprising Milford Community Consolidated School District 280
10and Milford Township High School District 233, as approved at
11the general primary election held on March 18, 2014, may issue
12bonds with an aggregate principal amount not to exceed
13$17,500,000, but only if all the following conditions are met:
14        (1) The voters of the district approve a proposition
15    for the bond issuance at an election held on or after
16    November 4, 2014.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (i) the building and
19    equipping of a new school building is required as a result
20    of the age and condition of an existing school building and
21    (ii) the issuance of bonds is authorized by a statute that
22    exempts the debt incurred on the bonds from the district's
23    statutory debt limitation.
24        (3) The bonds are issued, in one or more issuances, on
25    or before July 1, 2020, but the aggregate principal amount
26    issued in all such bond issuances combined must not exceed

 

 

09900SB0514ham002- 40 -LRB099 03081 MLM 51798 a

1    $17,500,000.
2        (4) The bonds are issued in accordance with this
3    Article.
4        (5) The proceeds of the bonds are used to accomplish
5    only those projects approved by the voters at an election
6    held on or after November 4, 2014.
7    The debt incurred on any bonds issued under this subsection
8(p-100) shall not be considered indebtedness for purposes of
9any statutory debt limitation. Bonds issued under this
10subsection (p-100) must mature within not to exceed 25 years
11from their date, notwithstanding any other law, including
12Section 19-3 of this Code, to the contrary.
13    (p-105) In addition to all other authority to issue bonds,
14North Shore School District 112 may issue bonds with an
15aggregate principal amount not to exceed $150,000,000, but only
16if all of the following conditions are met:
17        (1) The voters of the district approve a proposition
18    for the bond issuance at an election held on or after March
19    15, 2016.
20        (2) Prior to the issuance of the bonds, the school
21    board determines, by resolution, that (i) the building and
22    equipping of new buildings and improving the sites thereof
23    and the building and equipping of additions to, altering,
24    repairing, equipping, and renovating existing buildings
25    and improving the sites thereof are required as a result of
26    the age and condition of the district's existing buildings

 

 

09900SB0514ham002- 41 -LRB099 03081 MLM 51798 a

1    and (ii) the issuance of bonds is authorized by a statute
2    that exempts the debt incurred on the bonds from the
3    district's statutory debt limitation.
4        (3) The bonds are issued, in one or more issuances, not
5    later than 5 years after the date of the referendum
6    approving the issuance of the bonds, but the aggregate
7    principal amount issued in all such bond issuances combined
8    must not exceed $150,000,000.
9        (4) The bonds are issued in accordance with this
10    Article.
11        (5) The proceeds of the bonds are used to accomplish
12    only those projects approved by the voters at an election
13    held on or after March 15, 2016.
14    The debt incurred on any bonds issued under this subsection
15(p-105) and on any bonds issued to refund or continue to refund
16such bonds shall not be considered indebtedness for purposes of
17any statutory debt limitation. Bonds issued under this
18subsection (p-105) and any bonds issued to refund or continue
19to refund such bonds must mature within not to exceed 30 years
20from their date, notwithstanding any other law, including
21Section 19-3 of this Code, to the contrary.
22    (p-110) In addition to all other authority to issue bonds,
23Sandoval Community Unit School District 501 may issue bonds
24with an aggregate principal amount not to exceed $2,000,000,
25but only if all of the following conditions are met:
26        (1) The voters of the district approved a proposition

 

 

09900SB0514ham002- 42 -LRB099 03081 MLM 51798 a

1    for the bond issuance at an election held on March 20,
2    2012.
3        (2) Prior to the issuance of the bonds, the school
4    board determines, by resolution, that (i) the building and
5    equipping of a new school building is required because of
6    the age and current condition of the Sandoval Elementary
7    School building and (ii) the issuance of bonds is
8    authorized by a statute that exempts the debt incurred on
9    the bonds from the district's statutory debt limitation.
10        (3) The bonds are issued, in one or more bond
11    issuances, on or before March 19, 2022 2017, but the
12    aggregate principal amount issued in all such bond
13    issuances combined must not exceed $2,000,000.
14        (4) The bonds are issued in accordance with this
15    Article.
16        (5) The proceeds of the bonds are used to accomplish
17    only those projects approved by the voters at the election
18    held on March 20, 2012.
19    The debt incurred on any bonds issued under this subsection
20(p-110) and on any bonds issued to refund or continue to refund
21the bonds shall not be considered indebtedness for purposes of
22any statutory debt limitation.
23    (p-115) In addition to all other authority to issue bonds,
24Bureau Valley Community Unit School District 340 may issue
25bonds with an aggregate principal amount not to exceed
26$25,000,000, but only if all of the following conditions are

 

 

09900SB0514ham002- 43 -LRB099 03081 MLM 51798 a

1met:
2        (1) The voters of the district approve a proposition
3    for the bond issuance at an election held on or after March
4    15, 2016.
5        (2) Prior to the issuances of the bonds, the school
6    board determines, by resolution, that (i) the renovating
7    and equipping of some existing school buildings, the
8    building and equipping of new school buildings, and the
9    demolishing of some existing school buildings are required
10    as a result of the age and condition of existing school
11    buildings and (ii) the issuance of bonds is authorized by a
12    statute that exempts the debt incurred on the bonds from
13    the district's statutory debt limitation.
14        (3) The bonds are issued, in one or more issuances, on
15    or before July 1, 2021, but the aggregate principal amount
16    issued in all such bond issuances combined must not exceed
17    $25,000,000.
18        (4) The bonds are issued in accordance with this
19    Article.
20        (5) The proceeds of the bonds are used to accomplish
21    only those projects approved by the voters at an election
22    held on or after March 15, 2016.
23    The debt incurred on any bonds issued under this subsection
24(p-115) shall not be considered indebtedness for purposes of
25any statutory debt limitation. Bonds issued under this
26subsection (p-115) must mature within not to exceed 30 years

 

 

09900SB0514ham002- 44 -LRB099 03081 MLM 51798 a

1from their date, notwithstanding any other law, including
2Section 19-3 of this Code, to the contrary.
3    (p-120) In addition to all other authority to issue bonds,
4Paxton-Buckley-Loda Community Unit School District 10 may
5issue bonds with an aggregate principal amount not to exceed
6$28,500,000, but only if all the following conditions are met:
7        (1) The voters of the district approve a proposition
8    for the bond issuance at an election held on or after
9    November 8, 2016.
10        (2) Prior to the issuance of the bonds, the school
11    board determines, by resolution, that (i) the projects as
12    described in said proposition, relating to the building and
13    equipping of one or more school buildings or additions to
14    existing school buildings, are required as a result of the
15    age and condition of the District's existing buildings and
16    (ii) the issuance of bonds is authorized by a statute that
17    exempts the debt incurred on the bonds from the district's
18    statutory debt limitation.
19        (3) The bonds are issued, in one or more issuances, not
20    later than 5 years after the date of the referendum
21    approving the issuance of the bonds, but the aggregate
22    principal amount issued in all such bond issuances combined
23    must not exceed $28,500,000.
24        (4) The bonds are issued in accordance with this
25    Article.
26        (5) The proceeds of the bonds are used to accomplish

 

 

09900SB0514ham002- 45 -LRB099 03081 MLM 51798 a

1    only those projects approved by the voters at an election
2    held on or after November 8, 2016.
3    The debt incurred on any bonds issued under this subsection
4(p-120) and on any bonds issued to refund or continue to refund
5such bonds shall not be considered indebtedness for purposes of
6any statutory debt limitation. Bonds issued under this
7subsection (p-120) and any bonds issued to refund or continue
8to refund such bonds must mature within not to exceed 25 years
9from their date, notwithstanding any other law, including
10Section 19-3 of this Code, to the contrary.
11    (p-125) In addition to all other authority to issue bonds,
12Hillsboro Community Unit School District 3 may issue bonds with
13an aggregate principal amount not to exceed $34,500,000, but
14only if all the following conditions are met:
15        (1) The voters of the district approve a proposition
16    for the bond issuance at an election held on or after March
17    15, 2016.
18        (2) Prior to the issuance of the bonds, the school
19    board determines, by resolution, that (i) altering,
20    repairing, and equipping the high school
21    agricultural/vocational building, demolishing the high
22    school main, cafeteria, and gym buildings, building and
23    equipping a school building, and improving sites are
24    required as a result of the age and condition of the
25    district's existing buildings and (ii) the issuance of
26    bonds is authorized by a statute that exempts the debt

 

 

09900SB0514ham002- 46 -LRB099 03081 MLM 51798 a

1    incurred on the bonds from the district's statutory debt
2    limitation.
3        (3) The bonds are issued, in one or more issuances, not
4    later than 5 years after the date of the referendum
5    approving the issuance of the bonds, but the aggregate
6    principal amount issued in all such bond issuances combined
7    must not exceed $34,500,000.
8        (4) The bonds are issued in accordance with this
9    Article.
10        (5) The proceeds of the bonds are used to accomplish
11    only those projects approved by the voters at an election
12    held on or after March 15, 2016.
13    The debt incurred on any bonds issued under this subsection
14(p-125) and on any bonds issued to refund or continue to refund
15such bonds shall not be considered indebtedness for purposes of
16any statutory debt limitation. Bonds issued under this
17subsection (p-125) and any bonds issued to refund or continue
18to refund such bonds must mature within not to exceed 25 years
19from their date, notwithstanding any other law, including
20Section 19-3 of this Code, to the contrary.
21    (q) A school district must notify the State Board of
22Education prior to issuing any form of long-term or short-term
23debt that will result in outstanding debt that exceeds 75% of
24the debt limit specified in this Section or any other provision
25of law.
26(Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14;

 

 

09900SB0514ham002- 47 -LRB099 03081 MLM 51798 a

198-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff.
27-27-15; 99-390, eff. 8-18-15; 99-642, eff. 7-28-16; 99-735,
3eff. 8-5-16.)".