Rep. Lou Lang

Filed: 3/24/2017

 

 


 

 


 
10000HB0760ham001LRB100 04758 MLM 24094 a

1
AMENDMENT TO HOUSE BILL 760

2    AMENDMENT NO. ______. Amend House Bill 760 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Bond Issue Notification Act is amended by
5adding Section 21 as follows:
 
6    (30 ILCS 352/21 new)
7    Sec. 21. Bond issues of school districts; hearings;
8disclosure.
9    (a) After January 1, 2018, before issuing bonds under
10Sections 19-2 through 19-7 of the School Code, a school
11district relying on an exception to the debt limitations in
12Section 19-1 of the School Code shall hold a hearing as
13required under this Act. In addition to any other publication
14or posting requirements, the school district shall post notice
15of the hearing on its website at least 10 days before the
16hearing.

 

 

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1    (b) In addition to the information set forth in Section 15
2of this Act, the notice required by this Section shall include
3the following information:
4        (1) a description of the project for which the bonds
5    will be issued;
6        (2) an estimate of the number of years during which the
7    bonds will be outstanding;
8        (3) an estimate of the total debt service to be paid on
9    the bonds, including principal, interest, and costs of
10    issuing the bonds; and
11        (4) an estimate of the average annual property tax
12    needed to pay the principal of and interest on the bonds
13    extendable against property containing a single family
14    residence and having a fair market value of $100,000.
15    The notice shall state that the actual number of years
16during which the bonds will be outstanding, the actual total
17debt service to be paid on the bonds, and the actual average
18annual property tax to pay the principal of and interest on the
19bonds extendable against property containing a single family
20residence and having a fair market value of $100,000 are
21subject to change based on many factors, including market
22conditions at the time the bonds are sold. Any differences
23between the information set forth in the notice and the actual
24results at the time the bonds are sold shall not invalidate the
25hearing or the results of the referendum for the bonds.
 

 

 

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1    Section 10. The School Code is amended by changing Section
219-1 as follows:
 
3    (105 ILCS 5/19-1)
4    Sec. 19-1. Debt limitations of school districts.
5    (a) School districts shall not be subject to the provisions
6limiting their indebtedness prescribed in the Local Government
7Debt Limitation Act.
8    No school districts maintaining grades K through 8 or 9
9through 12 shall become indebted in any manner or for any
10purpose to an amount, including existing indebtedness, in the
11aggregate exceeding 6.9% on the value of the taxable property
12therein to be ascertained by the last assessment for State and
13county taxes or, until January 1, 1983, if greater, the sum
14that is produced by multiplying the school district's 1978
15equalized assessed valuation by the debt limitation percentage
16in effect on January 1, 1979, previous to the incurring of such
17indebtedness.
18    No school districts maintaining grades K through 12 shall
19become indebted in any manner or for any purpose to an amount,
20including existing indebtedness, in the aggregate exceeding
2113.8% on the value of the taxable property therein to be
22ascertained by the last assessment for State and county taxes
23or, until January 1, 1983, if greater, the sum that is produced
24by multiplying the school district's 1978 equalized assessed
25valuation by the debt limitation percentage in effect on

 

 

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1January 1, 1979, previous to the incurring of such
2indebtedness.
3    No partial elementary unit district, as defined in Article
411E of this Code, shall become indebted in any manner or for
5any purpose in an amount, including existing indebtedness, in
6the aggregate exceeding 6.9% of the value of the taxable
7property of the entire district, to be ascertained by the last
8assessment for State and county taxes, plus an amount,
9including existing indebtedness, in the aggregate exceeding
106.9% of the value of the taxable property of that portion of
11the district included in the elementary and high school
12classification, to be ascertained by the last assessment for
13State and county taxes. Moreover, no partial elementary unit
14district, as defined in Article 11E of this Code, shall become
15indebted on account of bonds issued by the district for high
16school purposes in the aggregate exceeding 6.9% of the value of
17the taxable property of the entire district, to be ascertained
18by the last assessment for State and county taxes, nor shall
19the district become indebted on account of bonds issued by the
20district for elementary purposes in the aggregate exceeding
216.9% of the value of the taxable property for that portion of
22the district included in the elementary and high school
23classification, to be ascertained by the last assessment for
24State and county taxes.
25    Notwithstanding the provisions of any other law to the
26contrary, in any case in which the voters of a school district

 

 

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1have approved a proposition for the issuance of bonds of such
2school district at an election held prior to January 1, 1979,
3and all of the bonds approved at such election have not been
4issued, the debt limitation applicable to such school district
5during the calendar year 1979 shall be computed by multiplying
6the value of taxable property therein, including personal
7property, as ascertained by the last assessment for State and
8county taxes, previous to the incurring of such indebtedness,
9by the percentage limitation applicable to such school district
10under the provisions of this subsection (a).
11    (a-5) After January 1, 2018, no school district may issue
12bonds under Sections 19-2 through 19-7 of this Code and rely on
13an exception to the debt limitations in this Section unless it
14has complied with the requirements of Section 21 of the Bond
15Issue Notification Act and the bonds have been approved by
16referendum.
17    (b) Notwithstanding the debt limitation prescribed in
18subsection (a) of this Section, additional indebtedness may be
19incurred in an amount not to exceed the estimated cost of
20acquiring or improving school sites or constructing and
21equipping additional building facilities under the following
22conditions:
23        (1) Whenever the enrollment of students for the next
24    school year is estimated by the board of education to
25    increase over the actual present enrollment by not less
26    than 35% or by not less than 200 students or the actual

 

 

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

 

 

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1    provide a quality educational program and not less than 2/3
2    of those voting in an election called by the school board
3    on the question approve the issuance of bonds for the
4    construction of such facilities, the school district may
5    issue bonds for this purpose; or
6        (5) Notwithstanding the provisions of paragraphs (1)
7    through (3) of this subsection (b), if (i) the school
8    district has previously availed itself of the provisions of
9    paragraph (4) of this subsection (b) to enable it to issue
10    bonds, (ii) the voters of the school district have not
11    defeated a proposition for the issuance of bonds since the
12    referendum described in paragraph (4) of this subsection
13    (b) was held, (iii) the school board determines that
14    additional facilities are needed to provide a quality
15    educational program, and (iv) a majority of those voting in
16    an election called by the school board on the question
17    approve the issuance of bonds for the construction of such
18    facilities, the school district may issue bonds for this
19    purpose.
20    In no event shall the indebtedness incurred pursuant to
21this subsection (b) and the existing indebtedness of the school
22district exceed 15% of the value of the taxable property
23therein to be ascertained by the last assessment for State and
24county taxes, previous to the incurring of such indebtedness
25or, until January 1, 1983, if greater, the sum that is produced
26by multiplying the school district's 1978 equalized assessed

 

 

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

 

 

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1        (1) The additional indebtedness authorized by this
2    subsection (d) is incurred by the school district through
3    the issuance of bonds under and in accordance with Section
4    17-2.11a for the purpose of replacing a school building
5    which, because of mine subsidence damage, has been closed
6    as provided in paragraph (2) of this subsection (d) or
7    through the issuance of bonds under and in accordance with
8    Section 19-3 for the purpose of increasing the size of, or
9    providing for additional functions in, such replacement
10    school buildings, or both such purposes.
11        (2) The bonds issued by the school district as provided
12    in paragraph (1) above are issued for the purposes of
13    construction by the school district of a new school
14    building pursuant to Section 17-2.11, to replace an
15    existing school building that, because of mine subsidence
16    damage, is closed as of the end of the 1992-93 school year
17    pursuant to action of the regional superintendent of
18    schools of the educational service region in which the
19    district is located under Section 3-14.22 or are issued for
20    the purpose of increasing the size of, or providing for
21    additional functions in, the new school building being
22    constructed to replace a school building closed as the
23    result of mine subsidence damage, or both such purposes.
24    (e) (Blank).
25    (f) Notwithstanding the provisions of subsection (a) of
26this Section or of any other law, bonds in not to exceed the

 

 

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1aggregate amount of $5,500,000 and issued by a school district
2meeting the following criteria shall not be considered
3indebtedness for purposes of any statutory limitation and may
4be issued in an amount or amounts, including existing
5indebtedness, in excess of any heretofore or hereafter imposed
6statutory limitation as to indebtedness:
7        (1) At the time of the sale of such bonds, the board of
8    education of the district shall have determined by
9    resolution that the enrollment of students in the district
10    is projected to increase by not less than 7% during each of
11    the next succeeding 2 school years.
12        (2) The board of education shall also determine by
13    resolution that the improvements to be financed with the
14    proceeds of the bonds are needed because of the projected
15    enrollment increases.
16        (3) The board of education shall also determine by
17    resolution that the projected increases in enrollment are
18    the result of improvements made or expected to be made to
19    passenger rail facilities located in the school district.
20    Notwithstanding the provisions of subsection (a) of this
21Section or of any other law, a school district that has availed
22itself of the provisions of this subsection (f) prior to July
2322, 2004 (the effective date of Public Act 93-799) may also
24issue bonds approved by referendum up to an amount, including
25existing indebtedness, not exceeding 25% of the equalized
26assessed value of the taxable property in the district if all

 

 

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1of the conditions set forth in items (1), (2), and (3) of this
2subsection (f) are met.
3    (g) Notwithstanding the provisions of subsection (a) of
4this Section or any other law, bonds in not to exceed an
5aggregate amount of 25% of the equalized assessed value of the
6taxable property of a school district and issued by a school
7district meeting the criteria in paragraphs (i) through (iv) of
8this subsection shall not be considered indebtedness for
9purposes of any statutory limitation and may be issued pursuant
10to resolution of the school board in an amount or amounts,
11including existing indebtedness, in excess of any statutory
12limitation of indebtedness heretofore or hereafter imposed:
13        (i) The bonds are issued for the purpose of
14    constructing a new high school building to replace two
15    adjacent existing buildings which together house a single
16    high school, each of which is more than 65 years old, and
17    which together are located on more than 10 acres and less
18    than 11 acres of property.
19        (ii) At the time the resolution authorizing the
20    issuance of the bonds is adopted, the cost of constructing
21    a new school building to replace the existing school
22    building is less than 60% of the cost of repairing the
23    existing school building.
24        (iii) The sale of the bonds occurs before July 1, 1997.
25        (iv) The school district issuing the bonds is a unit
26    school district located in a county of less than 70,000 and

 

 

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1    more than 50,000 inhabitants, which has an average daily
2    attendance of less than 1,500 and an equalized assessed
3    valuation of less than $29,000,000.
4    (h) Notwithstanding any other provisions of this Section or
5the provisions of any other law, until January 1, 1998, a
6community unit school district maintaining grades K through 12
7may issue bonds up to an amount, including existing
8indebtedness, not exceeding 27.6% of the equalized assessed
9value of the taxable property in the district, if all of the
10following conditions are met:
11        (i) The school district has an equalized assessed
12    valuation for calendar year 1995 of less than $24,000,000;
13        (ii) The bonds are issued for the capital improvement,
14    renovation, rehabilitation, or replacement of existing
15    school buildings of the district, all of which buildings
16    were originally constructed not less than 40 years ago;
17        (iii) The voters of the district approve a proposition
18    for the issuance of the bonds at a referendum held after
19    March 19, 1996; and
20        (iv) The bonds are issued pursuant to Sections 19-2
21    through 19-7 of this Code.
22    (i) Notwithstanding any other provisions of this Section or
23the provisions of any other law, until January 1, 1998, a
24community unit school district maintaining grades K through 12
25may issue bonds up to an amount, including existing
26indebtedness, not exceeding 27% of the equalized assessed value

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

10000HB0760ham001- 21 -LRB100 04758 MLM 24094 a

1        (i) For each of the 4 most recent years, residential
2    property comprises more than 80% of the equalized assessed
3    valuation of the district.
4        (ii) At least 2 school buildings that were constructed
5    40 or more years prior to the issuance of the bonds will be
6    demolished and will be replaced by new buildings or
7    additions to one or more existing buildings.
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 new buildings or
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 25% 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-10) Notwithstanding any other provisions of this
21Section or the provisions of any other law, bonds issued by a
22community consolidated school district maintaining grades K
23through 8 shall not be considered indebtedness for purposes of
24any statutory limitation and may be issued in an amount or
25amounts, including existing indebtedness, in excess of any
26heretofore or hereafter imposed statutory limitation as to

 

 

10000HB0760ham001- 22 -LRB100 04758 MLM 24094 a

1indebtedness, if all of the following conditions are met:
2        (i) For each of the 4 most recent years, residential
3    and farm property comprises more than 80% of the equalized
4    assessed valuation of the district.
5        (ii) The bond proceeds are to be used to acquire and
6    improve school sites and build and equip a school building.
7        (iii) Voters of the district approve a proposition for
8    the issuance of the bonds at a regularly scheduled
9    election.
10        (iv) At the time of the sale of the bonds, the school
11    board determines by resolution that the school sites and
12    building additions are needed because of an increase in
13    enrollment projected by the school board.
14        (v) The principal amount of the bonds, including
15    existing indebtedness, does not exceed 20% of the equalized
16    assessed value of the taxable property in the district.
17        (vi) The bonds are issued prior to January 1, 2007,
18    pursuant to Sections 19-2 through 19-7 of this Code.
19    (p-15) In addition to all other authority to issue bonds,
20the Oswego Community Unit School District Number 308 may issue
21bonds with an aggregate principal amount not to exceed
22$450,000,000, but only if all of the following conditions are
23met:
24        (i) The voters of the district have approved a
25    proposition for the bond issue at the general election held
26    on November 7, 2006.

 

 

10000HB0760ham001- 23 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 24 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 25 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 26 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 27 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 28 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 29 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 30 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 31 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 32 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 33 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 34 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 35 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 36 -LRB100 04758 MLM 24094 a

1    of the age and condition of an existing school building,
2    (ii) the existing school building should be demolished in
3    its entirety or the existing school building should be
4    demolished except for the 1914 west wing of the building,
5    and (iii) the issuance of bonds is authorized by a statute
6    that exempts the debt incurred on the bonds from the
7    district's statutory debt limitation.
8        (3) The bonds are issued, in one or more issuances, not
9    later than 5 years after the date of the referendum
10    approving the issuance of the bonds, but the aggregate
11    principal amount issued in all such bond issuances combined
12    must not exceed $32,000,000.
13        (4) The bonds are issued in accordance with this
14    Article.
15        (5) The proceeds of the bonds are used to accomplish
16    only those projects approved by the voters at an election
17    held on or after April 9, 2013.
18    The debt incurred on any bonds issued under this subsection
19(p-85) shall not be considered indebtedness for purposes of any
20statutory debt limitation. Bonds issued under this subsection
21(p-85) must mature within not to exceed 30 years from their
22date, notwithstanding any other law, including Section 19-3 of
23this Code, to the contrary.
24    (p-90) In addition to all other authority to issue bonds,
25Lebanon Community Unit School District 9 may issue bonds with
26an aggregate principal amount not to exceed $7,500,000, but

 

 

10000HB0760ham001- 37 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 38 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 39 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 40 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 41 -LRB100 04758 MLM 24094 a

1    that exempts the debt incurred on the bonds from the
2    district's statutory debt 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 $150,000,000.
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 an election
12    held on or after March 15, 2016.
13    The debt incurred on any bonds issued under this subsection
14(p-105) 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-105) and any bonds issued to refund or continue
18to refund such bonds must mature within not to exceed 30 years
19from their date, notwithstanding any other law, including
20Section 19-3 of this Code, to the contrary.
21    (p-110) In addition to all other authority to issue bonds,
22Sandoval Community Unit School District 501 may issue bonds
23with an aggregate principal amount not to exceed $2,000,000,
24but only if all of the following conditions are met:
25        (1) The voters of the district approved a proposition
26    for the bond issuance at an election held on March 20,

 

 

10000HB0760ham001- 42 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 43 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 44 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 45 -LRB100 04758 MLM 24094 a

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

 

 

10000HB0760ham001- 46 -LRB100 04758 MLM 24094 a

1    limitation.
2        (3) The bonds are issued, in one or more issuances, not
3    later than 5 years after the date of the referendum
4    approving the issuance of the bonds, but the aggregate
5    principal amount issued in all such bond issuances combined
6    must not exceed $34,500,000.
7        (4) The bonds are issued in accordance with this
8    Article.
9        (5) The proceeds of the bonds are used to accomplish
10    only those projects approved by the voters at an election
11    held on or after March 15, 2016.
12    The debt incurred on any bonds issued under this subsection
13(p-125) and on any bonds issued to refund or continue to refund
14such bonds shall not be considered indebtedness for purposes of
15any statutory debt limitation. Bonds issued under this
16subsection (p-125) and any bonds issued to refund or continue
17to refund such bonds must mature within not to exceed 25 years
18from their date, notwithstanding any other law, including
19Section 19-3 of this Code, to the contrary.
20    (p-130) Notwithstanding the provisions of subsection (a)
21of this Section or of any other law, bonds heretofore or
22hereafter issued by East Prairie School District 73 with an
23aggregate principal amount not to exceed $47,353,147 and
24approved by the voters of the district at the general election
25held on November 8, 2016, and any bonds issued to refund or
26continue to refund the bonds, shall not be considered

 

 

10000HB0760ham001- 47 -LRB100 04758 MLM 24094 a

1indebtedness for the purposes of any statutory debt limitation
2and may mature within not to exceed 25 years from their date,
3notwithstanding any other law, including Section 19-3 of this
4Code, to the contrary.
5    (q) A school district must notify the State Board of
6Education prior to issuing any form of long-term or short-term
7debt that will result in outstanding debt that exceeds 75% of
8the debt limit specified in this Section or any other provision
9of law.
10(Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14;
1198-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff.
127-27-15; 99-390, eff. 8-18-15; 99-642, eff. 7-28-16; 99-735,
13eff. 8-5-16; 99-926, eff. 1-20-17.)".