Bill Status of SB1196 98th General Assembly
Short Description: SCH CD-DEBT LIMIT-SMITHTON
Sen. James F. Clayborne, Jr.
| 1/13/2015||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Smithton Community Consolidated School District 130 may issue bonds with an aggregate principal amount not to exceed $15,000,000 if certain conditions are met, including (1) that the voters of the district approve a proposition for the bond issuance at an election held on or after April 9, 2013 and (2) that, prior to the issuance of the bonds, the school board determines, by resolution, that the building and equipping of a new Middle School Building and the alteration, repair, and equipping of the existing Elementary School Building are required as a result of the limited capacity, age, and condition of the existing school building. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and that the bonds must mature within not to exceed 25 years from their date, notwithstanding any other law to the contrary. Effective immediately.
|Date||Chamber|| Action|| 1/30/2013||Senate||Filed with Secretary by Sen. James F. Clayborne, Jr.|| 1/30/2013||Senate||First Reading|| 1/30/2013||Senate||Referred to Assignments|| 2/7/2013||Senate||Assigned to Revenue|| 2/28/2013||Senate||Postponed - Revenue|| 3/6/2013||Senate||Postponed - Revenue|| 3/13/2013||Senate||Postponed - Revenue|| 3/20/2013||Senate||Postponed - Revenue|| 3/22/2013||Senate||Rule 2-10 Committee Deadline Established As April 19, 2013|| 4/17/2013||Senate||Postponed - Revenue|| 4/19/2013||Senate||Rule 3-9(a) / Re-referred to Assignments|| 1/13/2015||Senate||Session Sine Die|