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91_HB4583eng HB4583 Engrossed 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 HB4583 Engrossed -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.)