Full Text of SB2264 93rd General Assembly
SB2264eng 93RD GENERAL ASSEMBLY
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SB2264 Engrossed |
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LRB093 15839 RCE 41456 b |
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| AN ACT concerning finance.
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| Be it enacted by the People of the State of Illinois, | | 3 |
| represented in the General Assembly:
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| Section 5. The General Obligation Bond Act is amended by | | 5 |
| changing Section 5
as follows:
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| (30 ILCS 330/5) (from Ch. 127, par. 655)
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| Sec. 5. School Construction.
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| (a) The amount of $58,450,000 is authorized to
make grants | | 9 |
| to local school
districts for the acquisition, development, | | 10 |
| construction, reconstruction,
rehabilitation, improvement, | | 11 |
| financing, architectural planning and
installation of capital | | 12 |
| facilities, including but not limited to those
required for | | 13 |
| special
education building projects provided for in Article 14 | | 14 |
| of the
The
School Code,
consisting of buildings, structures, | | 15 |
| and durable equipment, and for the
acquisition and improvement | | 16 |
| of real property and interests in real property
required, or | | 17 |
| expected to be required, in connection therewith.
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| (b) $22,550,000, or so much thereof as may be necessary, | | 19 |
| for grants to
school districts for the making of principal and | | 20 |
| interest payments, required
to be made, on bonds issued by such | | 21 |
| school districts after January 1, 1969,
pursuant to any | | 22 |
| indenture, ordinance, resolution, agreement or contract
to | | 23 |
| provide funds for the acquisition, development, construction,
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| reconstruction, rehabilitation, improvement, architectural | | 25 |
| planning and installation of
capital facilities consisting of | | 26 |
| buildings, structures, durable equipment
and land for | | 27 |
| educational purposes or for lease payments required to be made
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| by a school district for principal and interest payments on | | 29 |
| bonds issued
by a Public Building Commission after January 1, | | 30 |
| 1969.
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| (c) $10,000,000 for grants to school districts for the | | 32 |
| acquisition,
development, construction, reconstruction, |
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SB2264 Engrossed |
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LRB093 15839 RCE 41456 b |
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| rehabilitation, improvement,
architectural
planning and | | 2 |
| installation of capital facilities consisting of buildings
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| structures, durable equipment and land for special education | | 4 |
| building projects.
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| (d) $9,000,000 for grants to school districts for the | | 6 |
| reconstruction,
rehabilitation, improvement, financing and | | 7 |
| architectural planning of capital
facilities, including | | 8 |
| construction at another location to replace such capital
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| facilities, consisting of those public school buildings and | | 10 |
| temporary school
facilities which, prior to January 1, 1984, | | 11 |
| were condemned by the regional
superintendent under Section | | 12 |
| 3-14.22 of The School Code or by any State
official having | | 13 |
| jurisdiction over building safety.
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| (e) $3,050,000,000 for grants to school districts for
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| school improvement
projects authorized by the School | | 16 |
| Construction Law. The bonds shall be sold in
amounts not to | | 17 |
| exceed the following schedule, except any bonds not sold during
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| one year shall be added to the bonds to be sold during the | | 19 |
| remainder of the
schedule:
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| First year......................................$200,000,000
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| Second year.....................................$450,000,000
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| Third year......................................$500,000,000
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| Fourth year.....................................$500,000,000
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| Fifth year......................................$800,000,000
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| Sixth year and thereafter.......................$600,000,000
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| (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
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