101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB2112

 

Introduced 2/15/2019, by Sen. Kimberly A. Lightford

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/19-1

    Amends the School Code. Provides that, in addition to all other authority to issue bonds, Komarek School District 94 may issue bonds with an aggregate principal amount not to exceed $22,000,000 if certain conditions are met. Provides that the debt incurred on any bonds issued and on any bonds issued to refund or continue to refund those bonds may not be considered indebtedness for purposes of any statutory debt limitation and must mature within 30 years from their date of issuance. Effective immediately.


LRB101 09665 AXK 54764 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2112LRB101 09665 AXK 54764 b

1    AN ACT concerning education.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The School Code is amended by changing Section
519-1 as follows:
 
6    (105 ILCS 5/19-1)
7    Sec. 19-1. Debt limitations of school districts.
8    (a) School districts shall not be subject to the provisions
9limiting their indebtedness prescribed in the Local Government
10Debt Limitation Act.
11    No school districts maintaining grades K through 8 or 9
12through 12 shall become indebted in any manner or for any
13purpose to an amount, including existing indebtedness, in the
14aggregate exceeding 6.9% on the value of the taxable property
15therein to be ascertained by the last assessment for State and
16county taxes or, until January 1, 1983, if greater, the sum
17that is produced by multiplying the school district's 1978
18equalized assessed valuation by the debt limitation percentage
19in effect on January 1, 1979, previous to the incurring of such
20indebtedness.
21    No school districts maintaining grades K through 12 shall
22become indebted in any manner or for any purpose to an amount,
23including existing indebtedness, in the aggregate exceeding

 

 

SB2112- 2 -LRB101 09665 AXK 54764 b

113.8% on the value of the taxable property therein to be
2ascertained by the last assessment for State and county taxes
3or, until January 1, 1983, if greater, the sum that is produced
4by multiplying the school district's 1978 equalized assessed
5valuation by the debt limitation percentage in effect on
6January 1, 1979, previous to the incurring of such
7indebtedness.
8    No partial elementary unit district, as defined in Article
911E of this Code, shall become indebted in any manner or for
10any purpose in an amount, including existing indebtedness, in
11the aggregate exceeding 6.9% of the value of the taxable
12property of the entire district, to be ascertained by the last
13assessment for State and county taxes, plus an amount,
14including existing indebtedness, in the aggregate exceeding
156.9% of the value of the taxable property of that portion of
16the district included in the elementary and high school
17classification, to be ascertained by the last assessment for
18State and county taxes. Moreover, no partial elementary unit
19district, as defined in Article 11E of this Code, shall become
20indebted on account of bonds issued by the district for high
21school purposes in the aggregate exceeding 6.9% of the value of
22the taxable property of the entire district, to be ascertained
23by the last assessment for State and county taxes, nor shall
24the district become indebted on account of bonds issued by the
25district for elementary purposes in the aggregate exceeding
266.9% of the value of the taxable property for that portion of

 

 

SB2112- 3 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 4 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 5 -LRB101 09665 AXK 54764 b

1    bonds if the proposed issuance of bonds is approved by the
2    voters; or
3        (4) Notwithstanding the provisions of paragraphs (1)
4    through (3) of this subsection (b), if the school board
5    determines that additional facilities are needed to
6    provide a quality educational program and not less than 2/3
7    of those voting in an election called by the school board
8    on the question approve the issuance of bonds for the
9    construction of such facilities, the school district may
10    issue bonds for this purpose; or
11        (5) Notwithstanding the provisions of paragraphs (1)
12    through (3) of this subsection (b), if (i) the school
13    district has previously availed itself of the provisions of
14    paragraph (4) of this subsection (b) to enable it to issue
15    bonds, (ii) the voters of the school district have not
16    defeated a proposition for the issuance of bonds since the
17    referendum described in paragraph (4) of this subsection
18    (b) was held, (iii) the school board determines that
19    additional facilities are needed to provide a quality
20    educational program, and (iv) a majority of those voting in
21    an election called by the school board on the question
22    approve the issuance of bonds for the construction of such
23    facilities, the school district may issue bonds for this
24    purpose.
25    In no event shall the indebtedness incurred pursuant to
26this subsection (b) and the existing indebtedness of the school

 

 

SB2112- 6 -LRB101 09665 AXK 54764 b

1district exceed 15% of the value of the taxable property
2therein to be ascertained by the last assessment for State and
3county taxes, previous to the incurring of such indebtedness
4or, until January 1, 1983, if greater, the sum that is produced
5by multiplying the school district's 1978 equalized assessed
6valuation by the debt limitation percentage in effect on
7January 1, 1979.
8    The indebtedness provided for by this subsection (b) shall
9be in addition to and in excess of any other debt limitation.
10    (c) Notwithstanding the debt limitation prescribed in
11subsection (a) of this Section, in any case in which a public
12question for the issuance of bonds of a proposed school
13district maintaining grades kindergarten through 12 received
14at least 60% of the valid ballots cast on the question at an
15election held on or prior to November 8, 1994, and in which the
16bonds approved at such election have not been issued, the
17school district pursuant to the requirements of Section 11A-10
18(now repealed) may issue the total amount of bonds approved at
19such election for the purpose stated in the question.
20    (d) Notwithstanding the debt limitation prescribed in
21subsection (a) of this Section, a school district that meets
22all the criteria set forth in paragraphs (1) and (2) of this
23subsection (d) may incur an additional indebtedness in an
24amount not to exceed $4,500,000, even though the amount of the
25additional indebtedness authorized by this subsection (d),
26when incurred and added to the aggregate amount of indebtedness

 

 

SB2112- 7 -LRB101 09665 AXK 54764 b

1of the district existing immediately prior to the district
2incurring the additional indebtedness authorized by this
3subsection (d), causes the aggregate indebtedness of the
4district to exceed the debt limitation otherwise applicable to
5that district under subsection (a):
6        (1) The additional indebtedness authorized by this
7    subsection (d) is incurred by the school district through
8    the issuance of bonds under and in accordance with Section
9    17-2.11a for the purpose of replacing a school building
10    which, because of mine subsidence damage, has been closed
11    as provided in paragraph (2) of this subsection (d) or
12    through the issuance of bonds under and in accordance with
13    Section 19-3 for the purpose of increasing the size of, or
14    providing for additional functions in, such replacement
15    school buildings, or both such purposes.
16        (2) The bonds issued by the school district as provided
17    in paragraph (1) above are issued for the purposes of
18    construction by the school district of a new school
19    building pursuant to Section 17-2.11, to replace an
20    existing school building that, because of mine subsidence
21    damage, is closed as of the end of the 1992-93 school year
22    pursuant to action of the regional superintendent of
23    schools of the educational service region in which the
24    district is located under Section 3-14.22 or are issued for
25    the purpose of increasing the size of, or providing for
26    additional functions in, the new school building being

 

 

SB2112- 8 -LRB101 09665 AXK 54764 b

1    constructed to replace a school building closed as the
2    result of mine subsidence damage, or both such purposes.
3    (e) (Blank).
4    (f) Notwithstanding the provisions of subsection (a) of
5this Section or of any other law, bonds in not to exceed the
6aggregate amount of $5,500,000 and issued by a school district
7meeting the following criteria shall not be considered
8indebtedness for purposes of any statutory limitation and may
9be issued in an amount or amounts, including existing
10indebtedness, in excess of any heretofore or hereafter imposed
11statutory limitation as to indebtedness:
12        (1) At the time of the sale of such bonds, the board of
13    education of the district shall have determined by
14    resolution that the enrollment of students in the district
15    is projected to increase by not less than 7% during each of
16    the next succeeding 2 school years.
17        (2) The board of education shall also determine by
18    resolution that the improvements to be financed with the
19    proceeds of the bonds are needed because of the projected
20    enrollment increases.
21        (3) The board of education shall also determine by
22    resolution that the projected increases in enrollment are
23    the result of improvements made or expected to be made to
24    passenger rail facilities located in the school district.
25    Notwithstanding the provisions of subsection (a) of this
26Section or of any other law, a school district that has availed

 

 

SB2112- 9 -LRB101 09665 AXK 54764 b

1itself of the provisions of this subsection (f) prior to July
222, 2004 (the effective date of Public Act 93-799) may also
3issue bonds approved by referendum up to an amount, including
4existing indebtedness, not exceeding 25% of the equalized
5assessed value of the taxable property in the district if all
6of the conditions set forth in items (1), (2), and (3) of this
7subsection (f) are met.
8    (g) Notwithstanding the provisions of subsection (a) of
9this Section or any other law, bonds in not to exceed an
10aggregate amount of 25% of the equalized assessed value of the
11taxable property of a school district and issued by a school
12district meeting the criteria in paragraphs (i) through (iv) of
13this subsection shall not be considered indebtedness for
14purposes of any statutory limitation and may be issued pursuant
15to resolution of the school board in an amount or amounts,
16including existing indebtedness, in excess of any statutory
17limitation of indebtedness heretofore or hereafter imposed:
18        (i) The bonds are issued for the purpose of
19    constructing a new high school building to replace two
20    adjacent existing buildings which together house a single
21    high school, each of which is more than 65 years old, and
22    which together are located on more than 10 acres and less
23    than 11 acres of property.
24        (ii) At the time the resolution authorizing the
25    issuance of the bonds is adopted, the cost of constructing
26    a new school building to replace the existing school

 

 

SB2112- 10 -LRB101 09665 AXK 54764 b

1    building is less than 60% of the cost of repairing the
2    existing school building.
3        (iii) The sale of the bonds occurs before July 1, 1997.
4        (iv) The school district issuing the bonds is a unit
5    school district located in a county of less than 70,000 and
6    more than 50,000 inhabitants, which has an average daily
7    attendance of less than 1,500 and an equalized assessed
8    valuation of less than $29,000,000.
9    (h) Notwithstanding any other provisions of this Section or
10the provisions of any other law, until January 1, 1998, a
11community unit school district maintaining grades K through 12
12may issue bonds up to an amount, including existing
13indebtedness, not exceeding 27.6% of the equalized assessed
14value of the taxable property in the district, if all of the
15following conditions are met:
16        (i) The school district has an equalized assessed
17    valuation for calendar year 1995 of less than $24,000,000;
18        (ii) The bonds are issued for the capital improvement,
19    renovation, rehabilitation, or replacement of existing
20    school buildings of the district, all of which buildings
21    were originally constructed not less than 40 years ago;
22        (iii) The voters of the district approve a proposition
23    for the issuance of the bonds at a referendum held after
24    March 19, 1996; and
25        (iv) The bonds are issued pursuant to Sections 19-2
26    through 19-7 of this Code.

 

 

SB2112- 11 -LRB101 09665 AXK 54764 b

1    (i) Notwithstanding any other provisions of this Section or
2the provisions of any other law, until January 1, 1998, a
3community unit school district maintaining grades K through 12
4may issue bonds up to an amount, including existing
5indebtedness, not exceeding 27% of the equalized assessed value
6of the taxable property in the district, if all of the
7following conditions are met:
8        (i) The school district has an equalized assessed
9    valuation for calendar year 1995 of less than $44,600,000;
10        (ii) The bonds are issued for the capital improvement,
11    renovation, rehabilitation, or replacement of existing
12    school buildings of the district, all of which existing
13    buildings were originally constructed not less than 80
14    years ago;
15        (iii) The voters of the district approve a proposition
16    for the issuance of the bonds at a referendum held after
17    December 31, 1996; and
18        (iv) The bonds are issued pursuant to Sections 19-2
19    through 19-7 of this Code.
20    (j) Notwithstanding any other provisions of this Section or
21the provisions of any other law, until January 1, 1999, a
22community unit school district maintaining grades K through 12
23may issue bonds up to an amount, including existing
24indebtedness, not exceeding 27% of the equalized assessed value
25of the taxable property in the district if all of the following
26conditions are met:

 

 

SB2112- 12 -LRB101 09665 AXK 54764 b

1        (i) The school district has an equalized assessed
2    valuation for calendar year 1995 of less than $140,000,000
3    and a best 3 months average daily attendance for the
4    1995-96 school year of at least 2,800;
5        (ii) The bonds are issued to purchase a site and build
6    and equip a new high school, and the school district's
7    existing high school was originally constructed not less
8    than 35 years prior to the sale of the bonds;
9        (iii) At the time of the sale of the bonds, the board
10    of education determines by resolution that a new high
11    school is needed because of projected enrollment
12    increases;
13        (iv) At least 60% of those voting in an election held
14    after December 31, 1996 approve a proposition for the
15    issuance of the bonds; and
16        (v) The bonds are issued pursuant to Sections 19-2
17    through 19-7 of this Code.
18    (k) Notwithstanding the debt limitation prescribed in
19subsection (a) of this Section, a school district that meets
20all the criteria set forth in paragraphs (1) through (4) of
21this subsection (k) may issue bonds to incur an additional
22indebtedness in an amount not to exceed $4,000,000 even though
23the amount of the additional indebtedness authorized by this
24subsection (k), when incurred and added to the aggregate amount
25of indebtedness of the school district existing immediately
26prior to the school district incurring such additional

 

 

SB2112- 13 -LRB101 09665 AXK 54764 b

1indebtedness, causes the aggregate indebtedness of the school
2district to exceed or increases the amount by which the
3aggregate indebtedness of the district already exceeds the debt
4limitation otherwise applicable to that school district under
5subsection (a):
6        (1) the school district is located in 2 counties, and a
7    referendum to authorize the additional indebtedness was
8    approved by a majority of the voters of the school district
9    voting on the proposition to authorize that indebtedness;
10        (2) the additional indebtedness is for the purpose of
11    financing a multi-purpose room addition to the existing
12    high school;
13        (3) the additional indebtedness, together with the
14    existing indebtedness of the school district, shall not
15    exceed 17.4% of the value of the taxable property in the
16    school district, to be ascertained by the last assessment
17    for State and county taxes; and
18        (4) the bonds evidencing the additional indebtedness
19    are issued, if at all, within 120 days of August 14, 1998
20    (the effective date of Public Act 90-757).
21    (l) Notwithstanding any other provisions of this Section or
22the provisions of any other law, until January 1, 2000, a
23school district maintaining grades kindergarten through 8 may
24issue bonds up to an amount, including existing indebtedness,
25not exceeding 15% of the equalized assessed value of the
26taxable property in the district if all of the following

 

 

SB2112- 14 -LRB101 09665 AXK 54764 b

1conditions are met:
2        (i) the district has an equalized assessed valuation
3    for calendar year 1996 of less than $10,000,000;
4        (ii) the bonds are issued for capital improvement,
5    renovation, rehabilitation, or replacement of one or more
6    school buildings of the district, which buildings were
7    originally constructed not less than 70 years ago;
8        (iii) the voters of the district approve a proposition
9    for the issuance of the bonds at a referendum held on or
10    after March 17, 1998; and
11        (iv) the bonds are issued pursuant to Sections 19-2
12    through 19-7 of this Code.
13    (m) Notwithstanding any other provisions of this Section or
14the provisions of any other law, until January 1, 1999, an
15elementary school district maintaining grades K through 8 may
16issue bonds up to an amount, excluding existing indebtedness,
17not exceeding 18% of the equalized assessed value of the
18taxable property in the district, if all of the following
19conditions are met:
20        (i) The school district has an equalized assessed
21    valuation for calendar year 1995 or less than $7,700,000;
22        (ii) The school district operates 2 elementary
23    attendance centers that until 1976 were operated as the
24    attendance centers of 2 separate and distinct school
25    districts;
26        (iii) The bonds are issued for the construction of a

 

 

SB2112- 15 -LRB101 09665 AXK 54764 b

1    new elementary school building to replace an existing
2    multi-level elementary school building of the school
3    district that is not accessible at all levels and parts of
4    which were constructed more than 75 years ago;
5        (iv) The voters of the school district approve a
6    proposition for the issuance of the bonds at a referendum
7    held after July 1, 1998; and
8        (v) The bonds are issued pursuant to Sections 19-2
9    through 19-7 of this Code.
10    (n) Notwithstanding the debt limitation prescribed in
11subsection (a) of this Section or any other provisions of this
12Section or of any other law, a school district that meets all
13of the criteria set forth in paragraphs (i) through (vi) of
14this subsection (n) may incur additional indebtedness by the
15issuance of bonds in an amount not exceeding the amount
16certified by the Capital Development Board to the school
17district as provided in paragraph (iii) of this subsection (n),
18even though the amount of the additional indebtedness so
19authorized, when incurred and added to the aggregate amount of
20indebtedness of the district existing immediately prior to the
21district incurring the additional indebtedness authorized by
22this subsection (n), causes the aggregate indebtedness of the
23district to exceed the debt limitation otherwise applicable by
24law to that district:
25        (i) The school district applies to the State Board of
26    Education for a school construction project grant and

 

 

SB2112- 16 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 17 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 18 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 19 -LRB101 09665 AXK 54764 b

1be considered indebtedness for purposes of any statutory
2limitation and may be issued in an amount or amounts, including
3existing indebtedness, in excess of any heretofore or hereafter
4imposed statutory limitation as to indebtedness, if all of the
5following conditions are met:
6        (i) For each of the 4 most recent years, residential
7    property comprises more than 80% of the equalized assessed
8    valuation of the district.
9        (ii) At least 2 school buildings that were constructed
10    40 or more years prior to the issuance of the bonds will be
11    demolished and will be replaced by new buildings or
12    additions to one or more existing buildings.
13        (iii) Voters of the district approve a proposition for
14    the issuance of the bonds at a regularly scheduled
15    election.
16        (iv) At the time of the sale of the bonds, the school
17    board determines by resolution that the new buildings or
18    building additions are needed because of an increase in
19    enrollment projected by the school board.
20        (v) The principal amount of the bonds, including
21    existing indebtedness, does not exceed 25% of the equalized
22    assessed value of the taxable property in the district.
23        (vi) The bonds are issued prior to January 1, 2007,
24    pursuant to Sections 19-2 through 19-7 of this Code.
25    (p-10) Notwithstanding any other provisions of this
26Section or the provisions of any other law, bonds issued by a

 

 

SB2112- 20 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 21 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 22 -LRB101 09665 AXK 54764 b

1    accomplish those projects approved by the voters at the
2    general election held on November 7, 2006.
3The debt incurred on any bonds issued under this subsection
4(p-15) shall not be considered indebtedness for purposes of any
5statutory debt limitation.
6    (p-20) In addition to all other authority to issue bonds,
7the Lincoln-Way Community High School District Number 210 may
8issue bonds with an aggregate principal amount not to exceed
9$225,000,000, but only if all of the following conditions are
10met:
11        (i) The voters of the district have approved a
12    proposition for the bond issue at the general primary
13    election held on March 21, 2006.
14        (ii) At the time of the sale of the bonds, the school
15    board determines, by resolution, that: (A) the building and
16    equipping of the new high school buildings, 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 legislation 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 March 21, 2011, but the aggregate principal
26    amount issued in all such bond issues combined must not

 

 

SB2112- 23 -LRB101 09665 AXK 54764 b

1    exceed $225,000,000.
2        (iv) The bonds are issued in accordance with this
3    Article 19.
4        (v) The proceeds of the bonds are used only to
5    accomplish those projects approved by the voters at the
6    primary election held on March 21, 2006.
7The debt incurred on any bonds issued under this subsection
8(p-20) shall not be considered indebtedness for purposes of any
9statutory debt limitation.
10    (p-25) In addition to all other authority to issue bonds,
11Rochester Community Unit School District 3A may issue bonds
12with an aggregate principal amount not to exceed $18,500,000,
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 the general primary election held
16    in 2008.
17        (ii) At the time of the sale of the bonds, the school
18    board determines, by resolution, that: (A) the building and
19    equipping of a new high school building; the addition of
20    classrooms and support facilities at the high school,
21    middle school, and elementary school; the altering,
22    repairing, and equipping of existing school buildings; and
23    the improvement of school sites, as the case may be, are
24    required as a result of a projected increase in the
25    enrollment of students in the district; and (B) the sale of
26    bonds for these purposes is authorized by a law that

 

 

SB2112- 24 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 25 -LRB101 09665 AXK 54764 b

1    existing school buildings are required because of the age
2    of the existing school buildings.
3        (iii) The bonds are issued, in one or more bond
4    issuances, on or before December 31, 2012; however, the
5    aggregate principal amount issued in all such bond
6    issuances combined must not exceed $30,000,000.
7        (iv) The bonds are issued in accordance with this
8    Article.
9        (v) The proceeds of the bonds are used to accomplish
10    only those projects approved by the voters at an election
11    held in 2008.
12The debt incurred on any bonds issued under this subsection
13(p-30) shall not be considered indebtedness for purposes of any
14statutory debt limitation.
15    (p-35) In addition to all other authority to issue bonds,
16Prairie Hill Community Consolidated School District 133 may
17issue bonds with an aggregate principal amount not to exceed
18$13,900,000, but only if all of the following conditions are
19met:
20        (i) The voters of the district approved a proposition
21    for the bond issuance at an election held on April 17,
22    2007.
23        (ii) At the time of the sale of the bonds, the school
24    board determines, by resolution, that (A) the improvement
25    of the site of and the building and equipping of a school
26    building are required as a result of a projected increase

 

 

SB2112- 26 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 27 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 28 -LRB101 09665 AXK 54764 b

1ascertained by the last assessment for State and county taxes.
2    (p-50) Notwithstanding the provisions of subsection (a) of
3this Section or of any other law, bonds issued pursuant to
4Section 19-3.10 of this Code shall not be considered
5indebtedness for purposes of any statutory limitation if the
6bonds are issued in an amount or amounts, including existing
7indebtedness of the school district, not in excess of 43% of
8the value of the taxable property in the district to be
9ascertained by the last assessment for State and county taxes.
10    (p-55) In addition to all other authority to issue bonds,
11Belle Valley School District 119 may issue bonds with an
12aggregate principal amount not to exceed $47,500,000, but only
13if all of 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 April
16    7, 2009.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (i) the building and
19    equipping of a new school building is required as a result
20    of mine subsidence in an existing school building and
21    because of the age and condition of another existing school
22    building and (ii) the issuance of bonds is authorized by
23    statute that exempts the debt incurred on the bonds from
24    the district's statutory debt limitation.
25        (3) The bonds are issued, in one or more bond
26    issuances, on or before March 31, 2014, but the aggregate

 

 

SB2112- 29 -LRB101 09665 AXK 54764 b

1    principal amount issued in all such bond issuances combined
2    must not exceed $47,500,000.
3        (4) The bonds are issued in accordance with this
4    Article.
5        (5) The proceeds of the bonds are used to accomplish
6    only those projects approved by the voters at an election
7    held on or after April 7, 2009.
8    The debt incurred on any bonds issued under this subsection
9(p-55) shall not be considered indebtedness for purposes of any
10statutory debt limitation. Bonds issued under this subsection
11(p-55) must mature within not to exceed 30 years from their
12date, notwithstanding any other law to the contrary.
13    (p-60) In addition to all other authority to issue bonds,
14Wilmington Community Unit School District Number 209-U may
15issue bonds with an aggregate principal amount not to exceed
16$2,285,000, but only if all of the following conditions are
17met:
18        (1) The proceeds of the bonds are used to accomplish
19    only those projects approved by the voters at the general
20    primary election held on March 21, 2006.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the projects
23    approved by the voters were and are required because of the
24    age and condition of the school district's prior and
25    existing school buildings and (ii) the issuance of the
26    bonds is authorized by legislation that exempts the debt

 

 

SB2112- 30 -LRB101 09665 AXK 54764 b

1    incurred on the bonds from the district's statutory debt
2    limitation.
3        (3) The bonds are issued in one or more bond issuances
4    on or before March 1, 2011, but the aggregate principal
5    amount issued in all those bond issuances combined must not
6    exceed $2,285,000.
7        (4) The bonds are issued in accordance with this
8    Article.
9    The debt incurred on any bonds issued under this subsection
10(p-60) shall not be considered indebtedness for purposes of any
11statutory debt limitation.
12    (p-65) In addition to all other authority to issue bonds,
13West Washington County Community Unit School District 10 may
14issue bonds with an aggregate principal amount not to exceed
15$32,200,000 and maturing over a period not exceeding 25 years,
16but only if all of the following conditions are met:
17        (1) The voters of the district approve a proposition
18    for the bond issuance at an election held on or after
19    February 2, 2010.
20        (2) Prior to the issuance of the bonds, the school
21    board determines, by resolution, that (A) all or a portion
22    of the existing Okawville Junior/Senior High School
23    Building will be demolished; (B) the building and equipping
24    of a new school building to be attached to and the
25    alteration, repair, and equipping of the remaining portion
26    of the Okawville Junior/Senior High School Building is

 

 

SB2112- 31 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 32 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 33 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 34 -LRB101 09665 AXK 54764 b

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

 

 

SB2112- 35 -LRB101 09665 AXK 54764 b

1date, notwithstanding any other law, including Section 19-3 of
2this Code, to the contrary.
3    (p-90) In addition to all other authority to issue bonds,
4Lebanon Community Unit School District 9 may issue bonds with
5an aggregate principal amount not to exceed $7,500,000, but
6only if all of the following conditions are met:
7        (1) The voters of the district approved a proposition
8    for the bond issuance at the general primary election on
9    February 2, 2010.
10        (2) At or prior to the time of the sale of the bonds,
11    the school board determines, by resolution, that (i) the
12    building and equipping of a new elementary school building
13    is required as a result of a projected increase in the
14    enrollment of students in the district and the age and
15    condition of the existing Lebanon Elementary School
16    building, (ii) a portion of the existing Lebanon Elementary
17    School building will be demolished and the remaining
18    portion will be altered, repaired, and equipped, and (iii)
19    the sale of bonds is authorized by a statute that exempts
20    the debt incurred on the bonds from the district's
21    statutory debt limitation.
22        (3) The bonds are issued, in one or more bond
23    issuances, on or before April 1, 2014, but the aggregate
24    principal amount issued in all such bond issuances combined
25    must not exceed $7,500,000.
26        (4) The bonds are issued in accordance with this

 

 

SB2112- 36 -LRB101 09665 AXK 54764 b

1    Article.
2        (5) The proceeds of the bonds are used to accomplish
3    only those projects approved by the voters at the general
4    primary election held on February 2, 2010.
5    The debt incurred on any bonds issued under this subsection
6(p-90) shall not be considered indebtedness for purposes of any
7statutory debt limitation.
8    (p-95) In addition to all other authority to issue bonds,
9Monticello Community Unit School District 25 may issue bonds
10with an aggregate principal amount not to exceed $35,000,000,
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    November 4, 2014.
15        (2) Prior to the issuance of the bonds, the school
16    board determines, by resolution, that (i) the building and
17    equipping of a new school building is required as a result
18    of the age and condition of an existing school building and
19    (ii) the issuance of bonds is authorized by a statute that
20    exempts the debt incurred on the bonds from the district's
21    statutory debt limitation.
22        (3) The bonds are issued, in one or more issuances, on
23    or before July 1, 2020, but the aggregate principal amount
24    issued in all such bond issuances combined must not exceed
25    $35,000,000.
26        (4) The bonds are issued in accordance with this

 

 

SB2112- 37 -LRB101 09665 AXK 54764 b

1    Article.
2        (5) The proceeds of the bonds are used to accomplish
3    only those projects approved by the voters at an election
4    held on or after November 4, 2014.
5    The debt incurred on any bonds issued under this subsection
6(p-95) shall not be considered indebtedness for purposes of any
7statutory debt limitation. Bonds issued under this subsection
8(p-95) must mature within not to exceed 25 years from their
9date, notwithstanding any other law, including Section 19-3 of
10this Code, to the contrary.
11    (p-100) In addition to all other authority to issue bonds,
12the community unit school district created in the territory
13comprising Milford Community Consolidated School District 280
14and Milford Township High School District 233, as approved at
15the general primary election held on March 18, 2014, may issue
16bonds with an aggregate principal amount not to exceed
17$17,500,000, but only if all the following conditions are met:
18        (1) The voters of the district approve a proposition
19    for the bond issuance at an election held on or after
20    November 4, 2014.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the building and
23    equipping of a new school building is required as a result
24    of the age and condition of an existing school building and
25    (ii) the issuance of bonds is authorized by a statute that
26    exempts the debt incurred on the bonds from the district's

 

 

SB2112- 38 -LRB101 09665 AXK 54764 b

1    statutory debt limitation.
2        (3) The bonds are issued, in one or more issuances, on
3    or before July 1, 2020, but the aggregate principal amount
4    issued in all such bond issuances combined must not exceed
5    $17,500,000.
6        (4) The bonds are issued in accordance with this
7    Article.
8        (5) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at an election
10    held on or after November 4, 2014.
11    The debt incurred on any bonds issued under this subsection
12(p-100) shall not be considered indebtedness for purposes of
13any statutory debt limitation. Bonds issued under this
14subsection (p-100) 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-105) In addition to all other authority to issue bonds,
18North Shore School District 112 may issue bonds with an
19aggregate principal amount not to exceed $150,000,000, but only
20if all of the following 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 March
23    15, 2016.
24        (2) Prior to the issuance of the bonds, the school
25    board determines, by resolution, that (i) the building and
26    equipping of new buildings and improving the sites thereof

 

 

SB2112- 39 -LRB101 09665 AXK 54764 b

1    and the building and equipping of additions to, altering,
2    repairing, equipping, and renovating existing buildings
3    and improving the sites thereof are required as a result of
4    the age and condition of the district's existing buildings
5    and (ii) 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 $150,000,000.
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 March 15, 2016.
18    The debt incurred on any bonds issued under this subsection
19(p-105) and on any bonds issued to refund or continue to refund
20such bonds shall not be considered indebtedness for purposes of
21any statutory debt limitation. Bonds issued under this
22subsection (p-105) and any bonds issued to refund or continue
23to refund such bonds must mature within not to exceed 30 years
24from their date, notwithstanding any other law, including
25Section 19-3 of this Code, to the contrary.
26    (p-110) In addition to all other authority to issue bonds,

 

 

SB2112- 40 -LRB101 09665 AXK 54764 b

1Sandoval Community Unit School District 501 may issue bonds
2with an aggregate principal amount not to exceed $2,000,000,
3but only if all of the following conditions are met:
4        (1) The voters of the district approved a proposition
5    for the bond issuance at an election held on March 20,
6    2012.
7        (2) Prior to the issuance of the bonds, the school
8    board determines, by resolution, that (i) the building and
9    equipping of a new school building is required because of
10    the age and current condition of the Sandoval Elementary
11    School building and (ii) the issuance of bonds is
12    authorized by a statute that exempts the debt incurred on
13    the bonds from the district's statutory debt limitation.
14        (3) The bonds are issued, in one or more bond
15    issuances, on or before March 19, 2022, but the aggregate
16    principal amount issued in all such bond issuances combined
17    must not exceed $2,000,000.
18        (4) The bonds are issued in accordance with this
19    Article.
20        (5) The proceeds of the bonds are used to accomplish
21    only those projects approved by the voters at the election
22    held on March 20, 2012.
23    The debt incurred on any bonds issued under this subsection
24(p-110) and on any bonds issued to refund or continue to refund
25the bonds shall not be considered indebtedness for purposes of
26any statutory debt limitation.

 

 

SB2112- 41 -LRB101 09665 AXK 54764 b

1    (p-115) In addition to all other authority to issue bonds,
2Bureau Valley Community Unit School District 340 may issue
3bonds with an aggregate principal amount not to exceed
4$25,000,000, but only if all of the following conditions are
5met:
6        (1) The voters of the district approve a proposition
7    for the bond issuance at an election held on or after March
8    15, 2016.
9        (2) Prior to the issuances of the bonds, the school
10    board determines, by resolution, that (i) the renovating
11    and equipping of some existing school buildings, the
12    building and equipping of new school buildings, and the
13    demolishing of some existing school buildings are required
14    as a result of the age and condition of existing school
15    buildings and (ii) the issuance of bonds is authorized by a
16    statute that exempts the debt incurred on the bonds from
17    the district's statutory debt limitation.
18        (3) The bonds are issued, in one or more issuances, on
19    or before July 1, 2021, but the aggregate principal amount
20    issued in all such bond issuances combined must not exceed
21    $25,000,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at an election
26    held on or after March 15, 2016.

 

 

SB2112- 42 -LRB101 09665 AXK 54764 b

1    The debt incurred on any bonds issued under this subsection
2(p-115) shall not be considered indebtedness for purposes of
3any statutory debt limitation. Bonds issued under this
4subsection (p-115) must mature within not to exceed 30 years
5from their date, notwithstanding any other law, including
6Section 19-3 of this Code, to the contrary.
7    (p-120) In addition to all other authority to issue bonds,
8Paxton-Buckley-Loda Community Unit School District 10 may
9issue bonds with an aggregate principal amount not to exceed
10$28,500,000, but only if all the following conditions are met:
11        (1) The voters of the district approve a proposition
12    for the bond issuance at an election held on or after
13    November 8, 2016.
14        (2) Prior to the issuance of the bonds, the school
15    board determines, by resolution, that (i) the projects as
16    described in said proposition, relating to the building and
17    equipping of one or more school buildings or additions to
18    existing school buildings, are required as a result of the
19    age and condition of the District's existing buildings 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, not
24    later than 5 years after the date of the referendum
25    approving the issuance of the bonds, but the aggregate
26    principal amount issued in all such bond issuances combined

 

 

SB2112- 43 -LRB101 09665 AXK 54764 b

1    must not exceed $28,500,000.
2        (4) The bonds are issued in accordance with this
3    Article.
4        (5) The proceeds of the bonds are used to accomplish
5    only those projects approved by the voters at an election
6    held on or after November 8, 2016.
7    The debt incurred on any bonds issued under this subsection
8(p-120) and on any bonds issued to refund or continue to refund
9such bonds shall not be considered indebtedness for purposes of
10any statutory debt limitation. Bonds issued under this
11subsection (p-120) and any bonds issued to refund or continue
12to refund such bonds must mature within not to exceed 25 years
13from their date, notwithstanding any other law, including
14Section 19-3 of this Code, to the contrary.
15    (p-125) In addition to all other authority to issue bonds,
16Hillsboro Community Unit School District 3 may issue bonds with
17an aggregate principal amount not to exceed $34,500,000, but
18only if all the following conditions are met:
19        (1) The voters of the district approve a proposition
20    for the bond issuance at an election held on or after March
21    15, 2016.
22        (2) Prior to the issuance of the bonds, the school
23    board determines, by resolution, that (i) altering,
24    repairing, and equipping the high school
25    agricultural/vocational building, demolishing the high
26    school main, cafeteria, and gym buildings, building and

 

 

SB2112- 44 -LRB101 09665 AXK 54764 b

1    equipping a school building, and improving sites are
2    required as a result of the age and condition of the
3    district's existing buildings and (ii) the issuance of
4    bonds is authorized by a statute that exempts the debt
5    incurred on the bonds from the district's statutory debt
6    limitation.
7        (3) The bonds are issued, in one or more issuances, not
8    later than 5 years after the date of the referendum
9    approving the issuance of the bonds, but the aggregate
10    principal amount issued in all such bond issuances combined
11    must not exceed $34,500,000.
12        (4) The bonds are issued in accordance with this
13    Article.
14        (5) The proceeds of the bonds are used to accomplish
15    only those projects approved by the voters at an election
16    held on or after March 15, 2016.
17    The debt incurred on any bonds issued under this subsection
18(p-125) and on any bonds issued to refund or continue to refund
19such bonds shall not be considered indebtedness for purposes of
20any statutory debt limitation. Bonds issued under this
21subsection (p-125) and any bonds issued to refund or continue
22to refund such bonds must mature within not to exceed 25 years
23from their date, notwithstanding any other law, including
24Section 19-3 of this Code, to the contrary.
25    (p-130) In addition to all other authority to issue bonds,
26Waltham Community Consolidated School District 185 may incur

 

 

SB2112- 45 -LRB101 09665 AXK 54764 b

1indebtedness in an aggregate principal amount not to exceed
2$9,500,000 to build and equip a new school building and improve
3the site thereof, but only if all the following conditions are
4met:
5        (1) A majority of the voters of the district voting on
6    an advisory question voted in favor of the question
7    regarding the use of funding sources to build a new school
8    building without increasing property tax rates at the
9    general election held on November 8, 2016.
10        (2) Prior to incurring the debt, the school board
11    enters into intergovernmental agreements with the City of
12    LaSalle to pledge moneys in a special tax allocation fund
13    associated with tax increment financing districts LaSalle
14    I and LaSalle III and with the Village of Utica to pledge
15    moneys in a special tax allocation fund associated with tax
16    increment financing district Utica I for the purposes of
17    repaying the debt issued pursuant to this subsection
18    (p-130). Notwithstanding any other provision of law to the
19    contrary, the intergovernmental agreement may extend these
20    tax increment financing districts as necessary to ensure
21    repayment of the debt.
22        (3) Prior to incurring the debt, the school board
23    determines, by resolution, that (i) the building and
24    equipping of a new school building is required as a result
25    of the age and condition of the district's existing
26    buildings and (ii) the debt is authorized by a statute that

 

 

SB2112- 46 -LRB101 09665 AXK 54764 b

1    exempts the debt from the district's statutory debt
2    limitation.
3        (4) The debt is incurred, in one or more issuances, not
4    later than January 1, 2021, and the aggregate principal
5    amount of debt issued in all such issuances combined must
6    not exceed $9,500,000.
7    The debt incurred under this subsection (p-130) and on any
8bonds issued to pay, refund, or continue to refund such debt
9shall not be considered indebtedness for purposes of any
10statutory debt limitation. Debt issued under this subsection
11(p-130) and any bonds issued to pay, refund, or continue to
12refund such debt must mature within not to exceed 25 years from
13their date, notwithstanding any other law, including Section
1419-11 of this Code and subsection (b) of Section 17 of the
15Local Government Debt Reform Act, to the contrary.
16    (p-133) Notwithstanding the provisions of subsection (a)
17of this Section or of any other law, bonds heretofore or
18hereafter issued by East Prairie School District 73 with an
19aggregate principal amount not to exceed $47,353,147 and
20approved by the voters of the district at the general election
21held on November 8, 2016, and any bonds issued to refund or
22continue to refund the bonds, shall not be considered
23indebtedness for the purposes of any statutory debt limitation
24and may mature within not to exceed 25 years from their date,
25notwithstanding any other law, including Section 19-3 of this
26Code, to the contrary.

 

 

SB2112- 47 -LRB101 09665 AXK 54764 b

1    (p-135) In addition to all other authority to issue bonds,
2Brookfield LaGrange Park School District Number 95 may issue
3bonds with an aggregate principal amount not to exceed
4$20,000,000, but only if all the following conditions are met:
5        (1) The voters of the district approve a proposition
6    for the bond issuance at an election held on or after April
7    4, 2017.
8        (2) Prior to the issuance of the bonds, the school
9    board determines, by resolution, that (i) the additions and
10    renovations to the Brook Park Elementary and S. E. Gross
11    Middle School buildings are required to accommodate
12    enrollment growth, replace outdated facilities, and create
13    spaces consistent with 21st century learning and (ii) the
14    issuance of the 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, not
18    later than 5 years after the date of the referendum
19    approving the issuance of the bonds, but the aggregate
20    principal amount issued in all such bond issuances combined
21    must not exceed $20,000,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at an election
26    held on or after April 4, 2017.

 

 

SB2112- 48 -LRB101 09665 AXK 54764 b

1        The debt incurred on any bonds issued under this
2    subsection (p-135) and on any bonds issued to refund or
3    continue to refund such bonds shall not be considered
4    indebtedness for purposes of any statutory debt
5    limitation.
6    (p-140) The debt incurred on any bonds issued by Wolf
7Branch School District 113 under Section 17-2.11 of this Code
8for the purpose of repairing or replacing all or a portion of a
9school building that has been damaged by mine subsidence in an
10aggregate principal amount not to exceed $17,500,000 and on any
11bonds issued to refund or continue to refund those bonds shall
12not be considered indebtedness for purposes of any statutory
13debt limitation and must mature no later than 25 years from the
14date of issuance, notwithstanding any other provision of law to
15the contrary, including Section 19-3 of this Code. The maximum
16allowable amount of debt exempt from statutory debt limitations
17under this subsection (p-140) shall be reduced by an amount
18equal to any grants awarded by the State Board of Education or
19Capital Development Board for the explicit purpose of repairing
20or reconstructing a school building damaged by mine subsidence.
21    (p-145) In addition to all other authority to issue bonds,
22Komarek School District 94 may issue bonds with an aggregate
23principal amount not to exceed $22,000,000, but only if all of
24the following conditions are met:
25        (1) The voters of the district approve a proposition
26    for the bond issuance at an election held on or after April

 

 

SB2112- 49 -LRB101 09665 AXK 54764 b

1    2, 2019.
2        (2) Prior to the issuance of the bonds, the school
3    board determines, by resolution, that (i) building and
4    equipping additions to, altering, repairing, equipping, or
5    demolishing a portion of, or improving the site of the
6    district's existing school building is required as a result
7    of the age and condition of the existing building and (ii)
8    the issuance of the bonds is authorized by a statute that
9    exempts the debt incurred on the bonds from the district's
10    statutory debt limitation.
11        (3) The bonds are issued, in one or more issuances, no
12    later than 5 years after the date of the referendum
13    approving the issuance of the bonds, but the aggregate
14    principal amount issued in all of the bond issuances
15    combined may not exceed $22,000,000.
16        (4) The bonds are issued in accordance with this
17    Article.
18        (5) The proceeds of the bonds are used to accomplish
19    only those projects approved by the voters at an election
20    held on or after April 2, 2019.
21    The debt incurred on any bonds issued under this subsection
22and on any bonds issued to refund or continue to refund those
23bonds may not be considered indebtedness for purposes of any
24statutory debt limitation. Notwithstanding any other law to the
25contrary, including Section 19-3, bonds issued under this
26subsection and any bonds issued to refund or continue to refund

 

 

SB2112- 50 -LRB101 09665 AXK 54764 b

1those bonds must mature within 30 years from their date of
2issuance.
3    (q) A school district must notify the State Board of
4Education prior to issuing any form of long-term or short-term
5debt that will result in outstanding debt that exceeds 75% of
6the debt limit specified in this Section or any other provision
7of law.
8(Source: P.A. 99-78, eff. 7-20-15; 99-143, eff. 7-27-15;
999-390, eff. 8-18-15; 99-642, eff. 7-28-16; 99-735, eff.
108-5-16; 99-926, eff. 1-20-17, 100-503, eff. 6-1-18; 100-531,
11eff. 9-22-17; 100-650, eff. 7-31-18; 100-863, eff. 8-14-18.)
 
12    Section 99. Effective date. This Act takes effect upon
13becoming law.