State of Illinois
91st General Assembly
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91_HB4583

 
                                               LRB9112937REdv

 1        AN ACT to  amend  the  General  Obligation  Bond  Act  by
 2    changing Section 5.

 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:

 5        Section 5.  The General Obligation Bond Act is amended by
 6    changing Section 5 as follows:

 7        (30 ILCS 330/5) (from Ch. 127, par. 655)
 8        Sec. 5.  School Construction.
 9        (a)  The amount of  $58,450,000  is  authorized  to  make
10    grants   to  local  school  districts  for  the  acquisition,
11    development,  construction,  reconstruction,  rehabilitation,
12    improvement,   financing,    architectural    planning    and
13    installation of capital facilities, including but not limited
14    to  those  required  for  special education building projects
15    provided for in Article 14 of The School Code, consisting  of
16    buildings,  structures,  and  durable  equipment, and for the
17    acquisition and improvement of real property and interests in
18    real property  required,  or  expected  to  be  required,  in
19    connection therewith.
20        (b)  $22,550,000, or so much thereof as may be necessary,
21    for  grants  to  school districts for the making of principal
22    and interest payments, required to be made, on  bonds  issued
23    by  such  school districts after January 1, 1969, pursuant to
24    any indenture, ordinance, resolution, agreement  or  contract
25    to   provide   funds   for   the   acquisition,  development,
26    construction,  reconstruction,  rehabilitation,  improvement,
27    architectural planning and installation of capital facilities
28    consisting of buildings, structures,  durable  equipment  and
29    land  for educational purposes or for lease payments required
30    to be made by a school district for  principal  and  interest
31    payments  on  bonds  issued  by  a Public Building Commission
 
                            -2-                LRB9112937REdv
 1    after January 1, 1969.
 2        (c)  $10,000,000 for grants to school districts  for  the
 3    acquisition,   development,   construction,   reconstruction,
 4    rehabilitation,   improvement,   architectural  planning  and
 5    installation of capital facilities  consisting  of  buildings
 6    structures,  durable equipment and land for special education
 7    building projects.
 8        (d)  $9,000,000 for grants to school  districts  for  the
 9    reconstruction,  rehabilitation,  improvement,  financing and
10    architectural  planning  of  capital  facilities,   including
11    construction  at  another  location  to  replace such capital
12    facilities, consisting of those public school  buildings  and
13    temporary  school facilities which, prior to January 1, 1984,
14    were condemned by the regional superintendent  under  Section
15    3-14.22  of  The  School Code or by any State official having
16    jurisdiction over building safety.
17        (e)  $2,120,000,000 for grants to  school  districts  for
18    school   improvement   projects   authorized  by  the  School
19    Construction Law.  The bonds shall be sold in amounts not  to
20    exceed  the  following  schedule,  except  any bonds not sold
21    during one year shall be added to the bonds to be sold during
22    the remainder of the schedule:
23        First year...................................$200,000,000
24        Second year..................................$450,000,000
25        Third year...................................$500,000,000
26        Fourth year..................................$500,000,000
27        Fifth year...................................$300,000,000
28        Sixth year...................................$170,000,000
29        (f)  The   2000   Illinois   School   Construction    and
30    Infrastructure Assistance Program.
31    (Source: P.A. 90-549, eff. 12-8-97; 91-39, eff. 6-15-99.)

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