SB2469 EnrolledLRB099 18264 NHT 42634 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 Illinois Local Library Act is amended by
5adding Section 5-2.5 as follows:
 
6    (75 ILCS 5/5-2.5 new)
7    Sec. 5-2.5. Bonds as indebtedness. Notwithstanding any
8provision of law to the contrary:
9    (a) Any bonds issued under Section 5-2 of this Act shall
10not be considered indebtedness under any law including, but not
11limited to, Section 8-5-1 of the Illinois Municipal Code, and
12such bonds may be issued, regardless of any limitations on
13indebtedness in law, if the conditions of subsection (b) are
14met.
15    (b) Bonds shall not be considered indebtedness and may be
16issued regardless of any limitations on indebtedness under
17subsection (a) if:
18        (1) the bond or bonds are issued after approval by
19    voters at a regularly scheduled election;
20        (2) the bond or bonds do not exceed a principal amount
21    of $11,000,000 in the aggregate;
22        (3) on or before the date of sale of the bond or bonds,
23    the board of trustees of the public library and the

 

 

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1    corporate authorities determine, by ordinance or
2    resolution, that the library project funded by the bond or
3    bonds is needed; and
4        (4) the bond or bonds are issued prior to November 1,
5    2020.
 
6    Section 10. The School Code is amended by changing Sections
719-1 and 19-3 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
11limiting their indebtedness prescribed in the Local Government
12Debt Limitation Act "An Act to limit the indebtedness of
13counties having a population of less than 500,000 and
14townships, school districts and other municipal corporations
15having a population of less than 300,000", approved February
1615, 1928, as amended.
17    No school districts maintaining grades K through 8 or 9
18through 12 shall become indebted in any manner or for any
19purpose to an amount, including existing indebtedness, in the
20aggregate exceeding 6.9% on the value of the taxable property
21therein to be ascertained by the last assessment for State and
22county taxes or, until January 1, 1983, if greater, the sum
23that is produced by multiplying the school district's 1978
24equalized assessed valuation by the debt limitation percentage

 

 

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1in effect on January 1, 1979, previous to the incurring of such
2indebtedness.
3    No school districts maintaining grades K through 12 shall
4become indebted in any manner or for any purpose to an amount,
5including existing indebtedness, in the aggregate exceeding
613.8% on the value of the taxable property therein to be
7ascertained by the last assessment for State and county taxes
8or, until January 1, 1983, if greater, the sum that is produced
9by multiplying the school district's 1978 equalized assessed
10valuation by the debt limitation percentage in effect on
11January 1, 1979, previous to the incurring of such
12indebtedness.
13    No partial elementary unit district, as defined in Article
1411E of this Code, shall become indebted in any manner or for
15any purpose in an amount, including existing indebtedness, in
16the aggregate exceeding 6.9% of the value of the taxable
17property of the entire district, to be ascertained by the last
18assessment for State and county taxes, plus an amount,
19including existing indebtedness, in the aggregate exceeding
206.9% of the value of the taxable property of that portion of
21the district included in the elementary and high school
22classification, to be ascertained by the last assessment for
23State and county taxes. Moreover, no partial elementary unit
24district, as defined in Article 11E of this Code, shall become
25indebted on account of bonds issued by the district for high
26school purposes in the aggregate exceeding 6.9% of the value of

 

 

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1the taxable property of the entire district, to be ascertained
2by the last assessment for State and county taxes, nor shall
3the district become indebted on account of bonds issued by the
4district for elementary purposes in the aggregate exceeding
56.9% of the value of the taxable property for that portion of
6the district included in the elementary and high school
7classification, to be ascertained by the last assessment for
8State and county taxes.
9    Notwithstanding the provisions of any other law to the
10contrary, in any case in which the voters of a school district
11have approved a proposition for the issuance of bonds of such
12school district at an election held prior to January 1, 1979,
13and all of the bonds approved at such election have not been
14issued, the debt limitation applicable to such school district
15during the calendar year 1979 shall be computed by multiplying
16the value of taxable property therein, including personal
17property, as ascertained by the last assessment for State and
18county taxes, previous to the incurring of such indebtedness,
19by the percentage limitation applicable to such school district
20under the provisions of this subsection (a).
21    (b) Notwithstanding the debt limitation prescribed in
22subsection (a) of this Section, additional indebtedness may be
23incurred in an amount not to exceed the estimated cost of
24acquiring or improving school sites or constructing and
25equipping additional building facilities under the following
26conditions:

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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

 

 

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122, 2004 (the effective date of Public Act 93-799) may also
2issue bonds approved by referendum up to an amount, including
3existing indebtedness, not exceeding 25% of the equalized
4assessed value of the taxable property in the district if all
5of the conditions set forth in items (1), (2), and (3) of this
6subsection (f) are met.
7    (g) Notwithstanding the provisions of subsection (a) of
8this Section or any other law, bonds in not to exceed an
9aggregate amount of 25% of the equalized assessed value of the
10taxable property of a school district and issued by a school
11district meeting the criteria in paragraphs (i) through (iv) of
12this subsection shall not be considered indebtedness for
13purposes of any statutory limitation and may be issued pursuant
14to resolution of the school board in an amount or amounts,
15including existing indebtedness, in excess of any statutory
16limitation of indebtedness heretofore or hereafter imposed:
17        (i) The bonds are issued for the purpose of
18    constructing a new high school building to replace two
19    adjacent existing buildings which together house a single
20    high school, each of which is more than 65 years old, and
21    which together are located on more than 10 acres and less
22    than 11 acres of property.
23        (ii) At the time the resolution authorizing the
24    issuance of the bonds is adopted, the cost of constructing
25    a new school building to replace the existing school
26    building is less than 60% of the cost of repairing the

 

 

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

 

 

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

 

 

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

 

 

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1district to exceed or increases the amount by which the
2aggregate indebtedness of the district already exceeds the debt
3limitation otherwise applicable to that school district under
4subsection (a):
5        (1) the school district is located in 2 counties, and a
6    referendum to authorize the additional indebtedness was
7    approved by a majority of the voters of the school district
8    voting on the proposition to authorize that indebtedness;
9        (2) the additional indebtedness is for the purpose of
10    financing a multi-purpose room addition to the existing
11    high school;
12        (3) the additional indebtedness, together with the
13    existing indebtedness of the school district, shall not
14    exceed 17.4% of the value of the taxable property in the
15    school district, to be ascertained by the last assessment
16    for State and county taxes; and
17        (4) the bonds evidencing the additional indebtedness
18    are issued, if at all, within 120 days of August 14, 1998
19    (the effective date of Public Act 90-757) this amendatory
20    Act of 1998.
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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

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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

 

 

SB2469 Enrolled- 38 -LRB099 18264 NHT 42634 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

 

 

SB2469 Enrolled- 39 -LRB099 18264 NHT 42634 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

 

 

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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,

 

 

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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, 2017, 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) shall not be considered indebtedness for purposes of
25any statutory debt limitation.
26    (p-115) In addition to all other authority to issue bonds,

 

 

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

 

 

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

 

 

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

 

 

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1    required as a result of the age and condition of the
2    district's existing buildings and (ii) the issuance of
3    bonds is authorized by a statute that exempts the debt
4    incurred on the bonds from the district's statutory debt
5    limitation.
6        (3) The bonds are issued, in one or more issuances, not
7    later than 5 years after the date of the referendum
8    approving the issuance of the bonds, but the aggregate
9    principal amount issued in all such bond issuances combined
10    must not exceed $34,500,000.
11        (4) The bonds are issued in accordance with this
12    Article.
13        (5) The proceeds of the bonds are used to accomplish
14    only those projects approved by the voters at an election
15    held on or after March 15, 2016.
16    The debt incurred on any bonds issued under this subsection
17(p-125) and on any bonds issued to refund or continue to refund
18such bonds shall not be considered indebtedness for purposes of
19any statutory debt limitation. Bonds issued under this
20subsection (p-125) and any bonds issued to refund or continue
21to refund such bonds must mature within not to exceed 25 years
22from their date, notwithstanding any other law, including
23Section 19-3 of this Code, to the contrary.
24    (q) A school district must notify the State Board of
25Education prior to issuing any form of long-term or short-term
26debt that will result in outstanding debt that exceeds 75% of

 

 

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1the debt limit specified in this Section or any other provision
2of law.
3(Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14;
498-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff.
57-27-15; 99-390, eff. 8-18-15; revised 10-13-15.)
 
6    (105 ILCS 5/19-3)  (from Ch. 122, par. 19-3)
7    Sec. 19-3. Boards of education. Any school district
8governed by a board of education and having a population of not
9more than 500,000 inhabitants, and not governed by a special
10Act may borrow money for the purpose of building, equipping,
11altering or repairing school buildings or purchasing or
12improving school sites, or acquiring and equipping
13playgrounds, recreation grounds, athletic fields, and other
14buildings or land used or useful for school purposes or for the
15purpose of purchasing a site, with or without a building or
16buildings thereon, or for the building of a house or houses on
17such site, or for the building of a house or houses on the
18school site of the school district, for residential purposes of
19the superintendent, principal, or teachers of the school
20district, and issue its negotiable coupon bonds therefor signed
21by the president and secretary of the board, in denominations
22of not less than $100 nor more than $5,000, payable at such
23place and at such time or times, not exceeding 20 years, with
24the exception of Lockport High School and bonds issued by any
25school district as qualified school construction bonds in

 

 

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1accordance with applicable federal tax law not exceeding 25
2years, from date of issuance, as the board of education may
3prescribe, and bearing interest at a rate not to exceed the
4maximum rate authorized by the Bond Authorization Act, as
5amended at the time of the making of the contract, payable
6annually, semiannually or quarterly, but no such bonds shall be
7issued unless the proposition to issue them is submitted to the
8voters of the district at a referendum held at a regularly
9scheduled election after the board has certified the
10proposition to the proper election authorities in accordance
11with the general election law, a majority of all the votes cast
12on the proposition is in favor of the proposition, and notice
13of such bond referendum has been given either (i) in accordance
14with the second paragraph of Section 12-1 of the Election Code
15irrespective of whether such notice included any reference to
16the public question as it appeared on the ballot, or (ii) for
17an election held on or after November 1, 1998, in accordance
18with Section 12-5 of the Election Code, or (iii) by publication
19of a true and legible copy of the specimen ballot label
20containing the proposition in the form in which it appeared or
21will appear on the official ballot label on the day of the
22election at least 5 days before the day of the election in at
23least one newspaper published in and having a general
24circulation in the district, irrespective of any other
25requirements of Article 12 or Section 24A-18 of the Election
26Code, nor shall any residential site be acquired unless such

 

 

SB2469 Enrolled- 48 -LRB099 18264 NHT 42634 b

1proposition to acquire a site is submitted to the voters of the
2district at a referendum held at a regularly scheduled election
3after the board has certified the proposition to the proper
4election authorities in accordance with the general election
5law and a majority of all the votes cast on the proposition is
6in favor of the proposition. Nothing in this Act or in any
7other law shall be construed to require the notice of the bond
8referendum to be published over the name or title of the
9election authority or the listing of maturity dates of any
10bonds either in the notice of bond election or ballot used in
11the bond election. The provisions of this Section concerning
12notice of the bond referendum apply only to (i) consolidated
13primary elections held prior to January 1, 2002 and the
14consolidated election held on April 17, 2007 at which not less
15than 60% of the voters voting on the bond proposition voted in
16favor of the bond proposition, and (ii) other elections held
17before July 1, 1999; otherwise, notices required in connection
18with the submission of public questions shall be as set forth
19in Section 12-5 of the Election Code. Such proposition may be
20initiated by resolution of the school board.
21    With respect to instruments for the payment of money issued
22under this Section either before, on, or after the effective
23date of this amendatory Act of 1989, it is and always has been
24the intention of the General Assembly (i) that the Omnibus Bond
25Acts are and always have been supplementary grants of power to
26issue instruments in accordance with the Omnibus Bond Acts,

 

 

SB2469 Enrolled- 49 -LRB099 18264 NHT 42634 b

1regardless of any provision of this Act that may appear to be
2or to have been more restrictive than those Acts, (ii) that the
3provisions of this Section are not a limitation on the
4supplementary authority granted by the Omnibus Bond Acts, and
5(iii) that instruments issued under this Section within the
6supplementary authority granted by the Omnibus Bond Acts are
7not invalid because of any provision of this Act that may
8appear to be or to have been more restrictive than those Acts.
9    The proceeds of any bonds issued under authority of this
10Section shall be deposited and accounted for separately within
11the Site and Construction/Capital Improvements Fund.
12(Source: P.A. 95-30, eff. 8-7-07; 96-787, eff. 8-28-09.)
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.