Rep. Barbara Flynn Currie

Filed: 5/24/2010

 

 


 

 


 
09600SB3514ham012 LRB096 18423 RCE 41662 a

1
AMENDMENT TO SENATE BILL 3514

2     AMENDMENT NO. ______. Amend Senate Bill 3514, AS AMENDED,
3 by inserting Article 45 in its proper numeric sequence as
4 follows:
 
5
"ARTICLE 45.

 
6     Section 5. The School Code is amended by changing Section
7 19-1 as follows:
 
8     (105 ILCS 5/19-1)
9     Sec. 19-1. Debt limitations of school districts.
10     (a) School districts shall not be subject to the provisions
11 limiting their indebtedness prescribed in "An Act to limit the
12 indebtedness of counties having a population of less than
13 500,000 and townships, school districts and other municipal
14 corporations having a population of less than 300,000",
15 approved February 15, 1928, as amended.

 

 

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1     No school districts maintaining grades K through 8 or 9
2 through 12 shall become indebted in any manner or for any
3 purpose to an amount, including existing indebtedness, in the
4 aggregate exceeding 6.9% on the value of the taxable property
5 therein to be ascertained by the last assessment for State and
6 county taxes or, until January 1, 1983, if greater, the sum
7 that is produced by multiplying the school district's 1978
8 equalized assessed valuation by the debt limitation percentage
9 in effect on January 1, 1979, previous to the incurring of such
10 indebtedness.
11     No school districts maintaining grades K through 12 shall
12 become indebted in any manner or for any purpose to an amount,
13 including existing indebtedness, in the aggregate exceeding
14 13.8% on the value of the taxable property therein to be
15 ascertained by the last assessment for State and county taxes
16 or, until January 1, 1983, if greater, the sum that is produced
17 by multiplying the school district's 1978 equalized assessed
18 valuation by the debt limitation percentage in effect on
19 January 1, 1979, previous to the incurring of such
20 indebtedness.
21     No partial elementary unit district, as defined in Article
22 11E of this Code, shall become indebted in any manner or for
23 any purpose in an amount, including existing indebtedness, in
24 the aggregate exceeding 6.9% of the value of the taxable
25 property of the entire district, to be ascertained by the last
26 assessment for State and county taxes, plus an amount,

 

 

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1 including existing indebtedness, in the aggregate exceeding
2 6.9% of the value of the taxable property of that portion of
3 the district included in the elementary and high school
4 classification, to be ascertained by the last assessment for
5 State and county taxes. Moreover, no partial elementary unit
6 district, as defined in Article 11E of this Code, shall become
7 indebted on account of bonds issued by the district for high
8 school purposes in the aggregate exceeding 6.9% of the value of
9 the taxable property of the entire district, to be ascertained
10 by the last assessment for State and county taxes, nor shall
11 the district become indebted on account of bonds issued by the
12 district for elementary purposes in the aggregate exceeding
13 6.9% of the value of the taxable property for that portion of
14 the district included in the elementary and high school
15 classification, to be ascertained by the last assessment for
16 State and county taxes.
17     Notwithstanding the provisions of any other law to the
18 contrary, in any case in which the voters of a school district
19 have approved a proposition for the issuance of bonds of such
20 school district at an election held prior to January 1, 1979,
21 and all of the bonds approved at such election have not been
22 issued, the debt limitation applicable to such school district
23 during the calendar year 1979 shall be computed by multiplying
24 the value of taxable property therein, including personal
25 property, as ascertained by the last assessment for State and
26 county taxes, previous to the incurring of such indebtedness,

 

 

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1 by the percentage limitation applicable to such school district
2 under the provisions of this subsection (a).
3     (b) Notwithstanding the debt limitation prescribed in
4 subsection (a) of this Section, additional indebtedness may be
5 incurred in an amount not to exceed the estimated cost of
6 acquiring or improving school sites or constructing and
7 equipping additional building facilities under the following
8 conditions:
9         (1) Whenever the enrollment of students for the next
10     school year is estimated by the board of education to
11     increase over the actual present enrollment by not less
12     than 35% or by not less than 200 students or the actual
13     present enrollment of students has increased over the
14     previous school year by not less than 35% or by not less
15     than 200 students and the board of education determines
16     that additional school sites or building facilities are
17     required as a result of such increase in enrollment; and
18         (2) When the Regional Superintendent of Schools having
19     jurisdiction over the school district and the State
20     Superintendent of Education concur in such enrollment
21     projection or increase and approve the need for such
22     additional school sites or building facilities and the
23     estimated cost thereof; and
24         (3) When the voters in the school district approve a
25     proposition for the issuance of bonds for the purpose of
26     acquiring or improving such needed school sites or

 

 

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1     constructing and equipping such needed additional building
2     facilities at an election called and held for that purpose.
3     Notice of such an election shall state that the amount of
4     indebtedness proposed to be incurred would exceed the debt
5     limitation otherwise applicable to the school district.
6     The ballot for such proposition shall state what percentage
7     of the equalized assessed valuation will be outstanding in
8     bonds if the proposed issuance of bonds is approved by the
9     voters; or
10         (4) Notwithstanding the provisions of paragraphs (1)
11     through (3) of this subsection (b), if the school board
12     determines that additional facilities are needed to
13     provide a quality educational program and not less than 2/3
14     of those voting in an election called by the school board
15     on the question approve the issuance of bonds for the
16     construction of such facilities, the school district may
17     issue bonds for this purpose; or
18         (5) Notwithstanding the provisions of paragraphs (1)
19     through (3) of this subsection (b), if (i) the school
20     district has previously availed itself of the provisions of
21     paragraph (4) of this subsection (b) to enable it to issue
22     bonds, (ii) the voters of the school district have not
23     defeated a proposition for the issuance of bonds since the
24     referendum described in paragraph (4) of this subsection
25     (b) was held, (iii) the school board determines that
26     additional facilities are needed to provide a quality

 

 

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1     educational program, and (iv) a majority of those voting in
2     an election called by the school board on the question
3     approve the issuance of bonds for the construction of such
4     facilities, the school district may issue bonds for this
5     purpose.
6     In no event shall the indebtedness incurred pursuant to
7 this subsection (b) and the existing indebtedness of the school
8 district exceed 15% of the value of the taxable property
9 therein to be ascertained by the last assessment for State and
10 county taxes, previous to the incurring of such indebtedness
11 or, until January 1, 1983, if greater, the sum that is produced
12 by multiplying the school district's 1978 equalized assessed
13 valuation by the debt limitation percentage in effect on
14 January 1, 1979.
15     The indebtedness provided for by this subsection (b) shall
16 be in addition to and in excess of any other debt limitation.
17     (c) Notwithstanding the debt limitation prescribed in
18 subsection (a) of this Section, in any case in which a public
19 question for the issuance of bonds of a proposed school
20 district maintaining grades kindergarten through 12 received
21 at least 60% of the valid ballots cast on the question at an
22 election held on or prior to November 8, 1994, and in which the
23 bonds approved at such election have not been issued, the
24 school district pursuant to the requirements of Section 11A-10
25 (now repealed) may issue the total amount of bonds approved at
26 such election for the purpose stated in the question.

 

 

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1     (d) Notwithstanding the debt limitation prescribed in
2 subsection (a) of this Section, a school district that meets
3 all the criteria set forth in paragraphs (1) and (2) of this
4 subsection (d) may incur an additional indebtedness in an
5 amount not to exceed $4,500,000, even though the amount of the
6 additional indebtedness authorized by this subsection (d),
7 when incurred and added to the aggregate amount of indebtedness
8 of the district existing immediately prior to the district
9 incurring the additional indebtedness authorized by this
10 subsection (d), causes the aggregate indebtedness of the
11 district to exceed the debt limitation otherwise applicable to
12 that district under subsection (a):
13         (1) The additional indebtedness authorized by this
14     subsection (d) is incurred by the school district through
15     the issuance of bonds under and in accordance with Section
16     17-2.11a for the purpose of replacing a school building
17     which, because of mine subsidence damage, has been closed
18     as provided in paragraph (2) of this subsection (d) or
19     through the issuance of bonds under and in accordance with
20     Section 19-3 for the purpose of increasing the size of, or
21     providing for additional functions in, such replacement
22     school buildings, or both such purposes.
23         (2) The bonds issued by the school district as provided
24     in paragraph (1) above are issued for the purposes of
25     construction by the school district of a new school
26     building pursuant to Section 17-2.11, to replace an

 

 

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1     existing school building that, because of mine subsidence
2     damage, is closed as of the end of the 1992-93 school year
3     pursuant to action of the regional superintendent of
4     schools of the educational service region in which the
5     district is located under Section 3-14.22 or are issued for
6     the purpose of increasing the size of, or providing for
7     additional functions in, the new school building being
8     constructed to replace a school building closed as the
9     result of mine subsidence damage, or both such purposes.
10     (e) (Blank).
11     (f) Notwithstanding the provisions of subsection (a) of
12 this Section or of any other law, bonds in not to exceed the
13 aggregate amount of $5,500,000 and issued by a school district
14 meeting the following criteria shall not be considered
15 indebtedness for purposes of any statutory limitation and may
16 be issued in an amount or amounts, including existing
17 indebtedness, in excess of any heretofore or hereafter imposed
18 statutory limitation as to indebtedness:
19         (1) At the time of the sale of such bonds, the board of
20     education of the district shall have determined by
21     resolution that the enrollment of students in the district
22     is projected to increase by not less than 7% during each of
23     the next succeeding 2 school years.
24         (2) The board of education shall also determine by
25     resolution that the improvements to be financed with the
26     proceeds of the bonds are needed because of the projected

 

 

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1     enrollment increases.
2         (3) The board of education shall also determine by
3     resolution that the projected increases in enrollment are
4     the result of improvements made or expected to be made to
5     passenger rail facilities located in the school district.
6     Notwithstanding the provisions of subsection (a) of this
7 Section or of any other law, a school district that has availed
8 itself of the provisions of this subsection (f) prior to July
9 22, 2004 (the effective date of Public Act 93-799) may also
10 issue bonds approved by referendum up to an amount, including
11 existing indebtedness, not exceeding 25% of the equalized
12 assessed value of the taxable property in the district if all
13 of the conditions set forth in items (1), (2), and (3) of this
14 subsection (f) are met.
15     (g) Notwithstanding the provisions of subsection (a) of
16 this Section or any other law, bonds in not to exceed an
17 aggregate amount of 25% of the equalized assessed value of the
18 taxable property of a school district and issued by a school
19 district meeting the criteria in paragraphs (i) through (iv) of
20 this subsection shall not be considered indebtedness for
21 purposes of any statutory limitation and may be issued pursuant
22 to resolution of the school board in an amount or amounts,
23 including existing indebtedness, in excess of any statutory
24 limitation of indebtedness heretofore or hereafter imposed:
25         (i) The bonds are issued for the purpose of
26     constructing a new high school building to replace two

 

 

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1     adjacent existing buildings which together house a single
2     high school, each of which is more than 65 years old, and
3     which together are located on more than 10 acres and less
4     than 11 acres of property.
5         (ii) At the time the resolution authorizing the
6     issuance of the bonds is adopted, the cost of constructing
7     a new school building to replace the existing school
8     building is less than 60% of the cost of repairing the
9     existing school building.
10         (iii) The sale of the bonds occurs before July 1, 1997.
11         (iv) The school district issuing the bonds is a unit
12     school district located in a county of less than 70,000 and
13     more than 50,000 inhabitants, which has an average daily
14     attendance of less than 1,500 and an equalized assessed
15     valuation of less than $29,000,000.
16     (h) Notwithstanding any other provisions of this Section or
17 the provisions of any other law, until January 1, 1998, a
18 community unit school district maintaining grades K through 12
19 may issue bonds up to an amount, including existing
20 indebtedness, not exceeding 27.6% of the equalized assessed
21 value of the taxable property in the district, if all of the
22 following conditions are met:
23         (i) The school district has an equalized assessed
24     valuation for calendar year 1995 of less than $24,000,000;
25         (ii) The bonds are issued for the capital improvement,
26     renovation, rehabilitation, or replacement of existing

 

 

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1     school buildings of the district, all of which buildings
2     were originally constructed not less than 40 years ago;
3         (iii) The voters of the district approve a proposition
4     for the issuance of the bonds at a referendum held after
5     March 19, 1996; and
6         (iv) The bonds are issued pursuant to Sections 19-2
7     through 19-7 of this Code.
8     (i) Notwithstanding any other provisions of this Section or
9 the provisions of any other law, until January 1, 1998, a
10 community unit school district maintaining grades K through 12
11 may issue bonds up to an amount, including existing
12 indebtedness, not exceeding 27% of the equalized assessed value
13 of the taxable property in the district, if all of the
14 following conditions are met:
15         (i) The school district has an equalized assessed
16     valuation for calendar year 1995 of less than $44,600,000;
17         (ii) The bonds are issued for the capital improvement,
18     renovation, rehabilitation, or replacement of existing
19     school buildings of the district, all of which existing
20     buildings were originally constructed not less than 80
21     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     December 31, 1996; and
25         (iv) The bonds are issued pursuant to Sections 19-2
26     through 19-7 of this Code.

 

 

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1     (j) Notwithstanding any other provisions of this Section or
2 the provisions of any other law, until January 1, 1999, a
3 community unit school district maintaining grades K through 12
4 may issue bonds up to an amount, including existing
5 indebtedness, not exceeding 27% of the equalized assessed value
6 of the taxable property in the district if all of the following
7 conditions are met:
8         (i) The school district has an equalized assessed
9     valuation for calendar year 1995 of less than $140,000,000
10     and a best 3 months average daily attendance for the
11     1995-96 school year of at least 2,800;
12         (ii) The bonds are issued to purchase a site and build
13     and equip a new high school, and the school district's
14     existing high school was originally constructed not less
15     than 35 years prior to the sale of the bonds;
16         (iii) At the time of the sale of the bonds, the board
17     of education determines by resolution that a new high
18     school is needed because of projected enrollment
19     increases;
20         (iv) At least 60% of those voting in an election held
21     after December 31, 1996 approve a proposition for the
22     issuance of the bonds; and
23         (v) The bonds are issued pursuant to Sections 19-2
24     through 19-7 of this Code.
25     (k) Notwithstanding the debt limitation prescribed in
26 subsection (a) of this Section, a school district that meets

 

 

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1 all the criteria set forth in paragraphs (1) through (4) of
2 this subsection (k) may issue bonds to incur an additional
3 indebtedness in an amount not to exceed $4,000,000 even though
4 the amount of the additional indebtedness authorized by this
5 subsection (k), when incurred and added to the aggregate amount
6 of indebtedness of the school district existing immediately
7 prior to the school district incurring such additional
8 indebtedness, causes the aggregate indebtedness of the school
9 district to exceed or increases the amount by which the
10 aggregate indebtedness of the district already exceeds the debt
11 limitation otherwise applicable to that school district under
12 subsection (a):
13         (1) the school district is located in 2 counties, and a
14     referendum to authorize the additional indebtedness was
15     approved by a majority of the voters of the school district
16     voting on the proposition to authorize that indebtedness;
17         (2) the additional indebtedness is for the purpose of
18     financing a multi-purpose room addition to the existing
19     high school;
20         (3) the additional indebtedness, together with the
21     existing indebtedness of the school district, shall not
22     exceed 17.4% of the value of the taxable property in the
23     school district, to be ascertained by the last assessment
24     for State and county taxes; and
25         (4) the bonds evidencing the additional indebtedness
26     are issued, if at all, within 120 days of the effective

 

 

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1     date of this amendatory Act of 1998.
2     (l) Notwithstanding any other provisions of this Section or
3 the provisions of any other law, until January 1, 2000, a
4 school district maintaining grades kindergarten through 8 may
5 issue bonds up to an amount, including existing indebtedness,
6 not exceeding 15% of the equalized assessed value of the
7 taxable property in the district if all of the following
8 conditions are met:
9         (i) the district has an equalized assessed valuation
10     for calendar year 1996 of less than $10,000,000;
11         (ii) the bonds are issued for capital improvement,
12     renovation, rehabilitation, or replacement of one or more
13     school buildings of the district, which buildings were
14     originally constructed not less than 70 years ago;
15         (iii) the voters of the district approve a proposition
16     for the issuance of the bonds at a referendum held on or
17     after March 17, 1998; and
18         (iv) the bonds are issued pursuant to Sections 19-2
19     through 19-7 of this Code.
20     (m) Notwithstanding any other provisions of this Section or
21 the provisions of any other law, until January 1, 1999, an
22 elementary school district maintaining grades K through 8 may
23 issue bonds up to an amount, excluding existing indebtedness,
24 not exceeding 18% of the equalized assessed value of the
25 taxable property in the district, if all of the following
26 conditions are met:

 

 

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1         (i) The school district has an equalized assessed
2     valuation for calendar year 1995 or less than $7,700,000;
3         (ii) The school district operates 2 elementary
4     attendance centers that until 1976 were operated as the
5     attendance centers of 2 separate and distinct school
6     districts;
7         (iii) The bonds are issued for the construction of a
8     new elementary school building to replace an existing
9     multi-level elementary school building of the school
10     district that is not handicapped accessible at all levels
11     and parts of which were constructed more than 75 years ago;
12         (iv) The voters of the school district approve a
13     proposition for the issuance of the bonds at a referendum
14     held after July 1, 1998; and
15         (v) The bonds are issued pursuant to Sections 19-2
16     through 19-7 of this Code.
17     (n) Notwithstanding the debt limitation prescribed in
18 subsection (a) of this Section or any other provisions of this
19 Section or of any other law, a school district that meets all
20 of the criteria set forth in paragraphs (i) through (vi) of
21 this subsection (n) may incur additional indebtedness by the
22 issuance of bonds in an amount not exceeding the amount
23 certified by the Capital Development Board to the school
24 district as provided in paragraph (iii) of this subsection (n),
25 even though the amount of the additional indebtedness so
26 authorized, when incurred and added to the aggregate amount of

 

 

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1 indebtedness of the district existing immediately prior to the
2 district incurring the additional indebtedness authorized by
3 this subsection (n), causes the aggregate indebtedness of the
4 district to exceed the debt limitation otherwise applicable by
5 law to that district:
6         (i) The school district applies to the State Board of
7     Education for a school construction project grant and
8     submits a district facilities plan in support of its
9     application pursuant to Section 5-20 of the School
10     Construction Law.
11         (ii) The school district's application and facilities
12     plan are approved by, and the district receives a grant
13     entitlement for a school construction project issued by,
14     the State Board of Education under the School Construction
15     Law.
16         (iii) The school district has exhausted its bonding
17     capacity or the unused bonding capacity of the district is
18     less than the amount certified by the Capital Development
19     Board to the district under Section 5-15 of the School
20     Construction Law as the dollar amount of the school
21     construction project's cost that the district will be
22     required to finance with non-grant funds in order to
23     receive a school construction project grant under the
24     School Construction Law.
25         (iv) The bonds are issued for a "school construction
26     project", as that term is defined in Section 5-5 of the

 

 

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1     School Construction Law, in an amount that does not exceed
2     the dollar amount certified, as provided in paragraph (iii)
3     of this subsection (n), by the Capital Development Board to
4     the school district under Section 5-15 of the School
5     Construction Law.
6         (v) The voters of the district approve a proposition
7     for the issuance of the bonds at a referendum held after
8     the criteria specified in paragraphs (i) and (iii) of this
9     subsection (n) are met.
10         (vi) The bonds are issued pursuant to Sections 19-2
11     through 19-7 of the School Code.
12     (o) Notwithstanding any other provisions of this Section or
13 the provisions of any other law, until November 1, 2007, a
14 community unit school district maintaining grades K through 12
15 may issue bonds up to an amount, including existing
16 indebtedness, not exceeding 20% of the equalized assessed value
17 of the taxable property in the district if all of the following
18 conditions are met:
19         (i) the school district has an equalized assessed
20     valuation for calendar year 2001 of at least $737,000,000
21     and an enrollment for the 2002-2003 school year of at least
22     8,500;
23         (ii) the bonds are issued to purchase school sites,
24     build and equip a new high school, build and equip a new
25     junior high school, build and equip 5 new elementary
26     schools, and make technology and other improvements and

 

 

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1     additions to existing schools;
2         (iii) at the time of the sale of the bonds, the board
3     of education determines by resolution that the sites and
4     new or improved facilities are needed because of projected
5     enrollment increases;
6         (iv) at least 57% of those voting in a general election
7     held prior to January 1, 2003 approved a proposition for
8     the issuance of the bonds; and
9         (v) the bonds are issued pursuant to Sections 19-2
10     through 19-7 of this Code.
11     (p) Notwithstanding any other provisions of this Section or
12 the provisions of any other law, a community unit school
13 district maintaining grades K through 12 may issue bonds up to
14 an amount, including indebtedness, not exceeding 27% of the
15 equalized assessed value of the taxable property in the
16 district if all of the following conditions are met:
17         (i) The school district has an equalized assessed
18     valuation for calendar year 2001 of at least $295,741,187
19     and a best 3 months' average daily attendance for the
20     2002-2003 school year of at least 2,394.
21         (ii) The bonds are issued to build and equip 3
22     elementary school buildings; build and equip one middle
23     school building; and alter, repair, improve, and equip all
24     existing school buildings in the district.
25         (iii) At the time of the sale of the bonds, the board
26     of education determines by resolution that the project is

 

 

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

 

 

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

 

 

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1     existing indebtedness, does not exceed 20% of the equalized
2     assessed value of the taxable property in the district.
3         (vi) The bonds are issued prior to January 1, 2007,
4     pursuant to Sections 19-2 through 19-7 of this Code.
5     (p-15) In addition to all other authority to issue bonds,
6 the Oswego Community Unit School District Number 308 may issue
7 bonds with an aggregate principal amount not to exceed
8 $450,000,000, but only if all of the following conditions are
9 met:
10         (i) The voters of the district have approved a
11     proposition for the bond issue at the general election held
12     on November 7, 2006.
13         (ii) At the time of the sale of the bonds, the school
14     board determines, by resolution, that: (A) the building and
15     equipping of the new high school building, new junior high
16     school buildings, new elementary school buildings, early
17     childhood building, maintenance building, transportation
18     facility, and additions to existing school buildings, the
19     altering, repairing, equipping, and provision of
20     technology improvements to existing school buildings, and
21     the acquisition and improvement of school sites, as the
22     case may be, are required as a result of a projected
23     increase in the enrollment of students in the district; and
24     (B) the sale of bonds for these purposes is authorized by
25     legislation that exempts the debt incurred on the bonds
26     from the district's statutory debt limitation.

 

 

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1         (iii) The bonds are issued, in one or more bond issues,
2     on or before November 7, 2011, but the aggregate principal
3     amount issued in all such bond issues combined must not
4     exceed $450,000,000.
5         (iv) The bonds are issued in accordance with this
6     Article 19.
7         (v) The proceeds of the bonds are used only to
8     accomplish those projects approved by the voters at the
9     general election held on November 7, 2006.
10 The debt incurred on any bonds issued under this subsection
11 (p-15) shall not be considered indebtedness for purposes of any
12 statutory debt limitation.
13     (p-20) In addition to all other authority to issue bonds,
14 the Lincoln-Way Community High School District Number 210 may
15 issue bonds with an aggregate principal amount not to exceed
16 $225,000,000, but only if all of the following conditions are
17 met:
18         (i) The voters of the district have approved a
19     proposition for the bond issue at the general primary
20     election held on March 21, 2006.
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 the new high school buildings, the altering,
24     repairing, and equipping of existing school buildings, and
25     the improvement of school sites, as the case may be, are
26     required as a result of a projected increase in the

 

 

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1     enrollment of students in the district; and (B) the sale of
2     bonds for these purposes is authorized by legislation that
3     exempts the debt incurred on the bonds from the district's
4     statutory debt limitation.
5         (iii) The bonds are issued, in one or more bond issues,
6     on or before March 21, 2011, but the aggregate principal
7     amount issued in all such bond issues combined must not
8     exceed $225,000,000.
9         (iv) The bonds are issued in accordance with this
10     Article 19.
11         (v) The proceeds of the bonds are used only to
12     accomplish those projects approved by the voters at the
13     primary election held on March 21, 2006.
14 The debt incurred on any bonds issued under this subsection
15 (p-20) shall not be considered indebtedness for purposes of any
16 statutory debt limitation.
17     (p-25) In addition to all other authority to issue bonds,
18 Rochester Community Unit School District 3A may issue bonds
19 with an aggregate principal amount not to exceed $18,500,000,
20 but only if all of the following conditions are met:
21         (i) The voters of the district approve a proposition
22     for the bond issuance at the general primary election held
23     in 2008.
24         (ii) At the time of the sale of the bonds, the school
25     board determines, by resolution, that: (A) the building and
26     equipping of a new high school building; the addition of

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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1     (p-45) Notwithstanding the provisions of subsection (a) of
2 this Section or of any other law, bonds issued pursuant to
3 Section 19-3.5 of this Code shall not be considered
4 indebtedness for purposes of any statutory limitation if the
5 bonds are issued in an amount or amounts, including existing
6 indebtedness of the school district, not in excess of 18.5% of
7 the value of the taxable property in the district to be
8 ascertained by the last assessment for State and county taxes.
9     (p-50) Notwithstanding the provisions of subsection (a) of
10 this Section or of any other law, bonds issued pursuant to
11 Section 19-3.10 of this Code shall not be considered
12 indebtedness for purposes of any statutory limitation if the
13 bonds are issued in an amount or amounts, including existing
14 indebtedness of the school district, not in excess of 43% of
15 the value of the taxable property in the district to be
16 ascertained by the last assessment for State and county taxes.
17     (p-55) (p-45) In addition to all other authority to issue
18 bonds, Belle Valley School District 119 may issue bonds with an
19 aggregate principal amount not to exceed $47,500,000, but only
20 if 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 April
23     7, 2009.
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

 

 

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1     of mine subsidence in an existing school building and
2     because of the age and condition of another existing school
3     building and (ii) the issuance of bonds is authorized by
4     statute that exempts the debt incurred on the bonds from
5     the district's statutory debt limitation.
6         (3) The bonds are issued, in one or more bond
7     issuances, on or before March 31, 2014, but the aggregate
8     principal amount issued in all such bond issuances combined
9     must not exceed $47,500,000.
10         (4) The bonds are issued in accordance with this
11     Article.
12         (5) The proceeds of the bonds are used to accomplish
13     only those projects approved by the voters at an election
14     held on or after April 7, 2009.
15     The debt incurred on any bonds issued under this subsection
16 (p-55) (p-45) shall not be considered indebtedness for purposes
17 of any statutory debt limitation. Bonds issued under this
18 subsection (p-55) (p-45) must mature within not to exceed 30
19 years from their date, notwithstanding any other law to the
20 contrary.
21     (p-60) In addition to all other authority to issue bonds,
22 Cahokia Community Unit School District 187 may issue bonds with
23 an aggregate principal amount not to exceed $50,000,000, but
24 only if all the 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

 

 

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1     November 2, 2010.
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 as a result
5     of the age and condition of an existing school building and
6     (ii) the issuance of bonds is authorized by a statute that
7     exempts the debt incurred on the bonds from the district's
8     statutory debt limitation.
9         (3) The bonds are issued, in one or more issuances, on
10     or before July 1, 2016, but the aggregate principal amount
11     issued in all such bond issuances combined must not exceed
12     $50,000,000.
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 November 2, 2010.
18     The debt incurred on any bonds issued under this subsection
19 (p-60) shall not be considered indebtedness for purposes of any
20 statutory debt limitation. Bonds issued under this subsection
21 (p-60) must mature within not to exceed 25 years from their
22 date, notwithstanding any other law, including Section 19-3 of
23 this Code, to the contrary.
24     (q) A school district must notify the State Board of
25 Education prior to issuing any form of long-term or short-term
26 debt that will result in outstanding debt that exceeds 75% of

 

 

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1 the debt limit specified in this Section or any other provision
2 of law.
3 (Source: P.A. 95-331, eff. 8-21-07; 95-594, eff. 9-10-07;
4 95-792, eff. 1-1-09; 96-63, eff. 7-23-09; 96-273, eff. 8-11-09;
5 96-517, eff. 8-14-09; revised 9-15-09.)
 
6     Section 10. The School Construction Law is amended by
7 changing Section 5-50 as follows:
 
8     (105 ILCS 230/5-50)
9     Sec. 5-50. Referendum requirements. After the State Board
10 of Education has approved all or part of a district's
11 application and issued a grant entitlement for a school
12 construction project grant, the district shall submit the
13 project or the financing of the project to a referendum when
14 such referendum is required by law, except for a project
15 financed by bonds issued pursuant to subsection (p-60) of
16 Section 19-1 of the School Code.
17 (Source: P.A. 90-548, eff. 1-1-98.)".