(105 ILCS 5/34A-501.1)
Additional bond authority.
Subject to the limitation
in additional amount authorized by this amendatory Act of 1993 in Section
34A-501, the Authority shall incur indebtedness by the issuance of its Bonds on
or after July 1, 1993 in principal amounts sufficient to provide the Board from
the proceeds of the Bonds the sum of $175,000,000 during the
beginning in 1993, and the sum of $203,000,000 during the Fiscal Year
in 1994, in each year for ordinary and necessary expenditures for educational
purposes, maintenance of school facilities, and other operational needs of the
Board. All sums provided to the Board from proceeds of Bonds issued on or
after July 1, 1993 shall be treated
as revenues of the Board in that fiscal year for all purposes.
(Source: P.A. 88-511.)