Rep. John E. Bradley
Filed: 12/1/2014
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1 | AMENDMENT TO SENATE BILL 2839
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2 | AMENDMENT NO. ______. Amend Senate Bill 2839, immediately | ||||||
3 | above the enacting clause, by inserting the following: | ||||||
4 | "WHEREAS, The State of Illinois has a strategic interest in | ||||||
5 | the operations of the Illinois International Port District and | ||||||
6 | its Board, whose function is to develop the District's port and | ||||||
7 | harbor facilities, issue construction permits, regulate the | ||||||
8 | District's facilities and waterways, establish and operate | ||||||
9 | foreign trade zones, and govern and administer all the District | ||||||
10 | area within Chicago's corporate limits; and | ||||||
11 | WHEREAS, The Illinois International Port District is a very | ||||||
12 | significant driver of freight movement and economic activity | ||||||
13 | throughout the State of Illinois, including the downstate | ||||||
14 | waterways and especially the Mississippi River and the Illinois | ||||||
15 | River; and |
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1 | WHEREAS, In 2010, cargo shipments at the Port of Chicago | ||||||
2 | directly or indirectly supported 6,930 jobs and generated | ||||||
3 | $425,000,000 in revenue for Illinois firms, according to the | ||||||
4 | Washington D.C.-based American Great Lakes Ports Association; | ||||||
5 | and | ||||||
6 | WHEREAS, The Port of Chicago links rail and trucking lines | ||||||
7 | with barges and ships supplying the Great Lakes and nearby | ||||||
8 | rivers and handles an estimated 26,000,000 cargo tons annually | ||||||
9 | throughout its 1,500 acre complex on the far south side, | ||||||
10 | according to a recent estimate by a consortium of Great Lakes | ||||||
11 | shipping interests; and | ||||||
12 | WHEREAS, In 1978, the Capital Development Board provided | ||||||
13 | funds to the Illinois International Port District as authorized | ||||||
14 | by Section 13 of the Capital Development Board Act, which | ||||||
15 | provides for repayment by the Illinois International Port | ||||||
16 | District using a flexible formula based on specified levels of | ||||||
17 | revenues and profits; and | ||||||
18 | WHEREAS, In the over 30 years since that payment from the | ||||||
19 | Capital Development Board, the Illinois International Port | ||||||
20 | District has never been required to make a single payment to | ||||||
21 | the Capital Development Board because it has never reached the | ||||||
22 | levels of revenues and profits that would require such payment; | ||||||
23 | and |
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1 | WHEREAS, The Capital Development Board annually certifies | ||||||
2 | to the Illinois International Port District that it owes no | ||||||
3 | payment for the year to the Capital Development Board; and | ||||||
4 | WHEREAS, It is virtually impossible that the Illinois | ||||||
5 | International Port District will ever reach the level of | ||||||
6 | revenues and profits that would require it to make a payment to | ||||||
7 | the Capital Development Board; and | ||||||
8 | WHEREAS, In its financial statements for each year since at | ||||||
9 | least 2005, the Capital Development Board has "reserved" the | ||||||
10 | entire amount lent to the Illinois International Port District, | ||||||
11 | indicating that it does not expect any payments under the loan, | ||||||
12 | and that non-payment of the loan would not require any future | ||||||
13 | or present cash outlay by the Capital Development Board or the | ||||||
14 | State; and | ||||||
15 | WHEREAS, For the reasons discussed above, the existence of | ||||||
16 | this debt is of no value whatsoever to the State and serves | ||||||
17 | only to limit the investment in the Port of Chicago and the | ||||||
18 | amount of economic activity throughout Illinois water and rail | ||||||
19 | lines; and | ||||||
20 | WHEREAS, Official forgiveness of the obligation from the | ||||||
21 | Illinois International Port District to the Capital |
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1 | Development Board would benefit the entire State of Illinois by | ||||||
2 | allowing greater investment in the State's waterways and | ||||||
3 | freight facilities; therefore"; and | ||||||
4 | by replacing everything after the enacting clause with the | ||||||
5 | following:
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6 | "Section 5. The Capital Development Board Act is amended by | ||||||
7 | changing Section 13 as follows:
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8 | (20 ILCS 3105/13) (from Ch. 127, par. 783)
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9 | Sec. 13.
The Board may provide cargo handling facilities | ||||||
10 | and facilities
designed for the movement of cargo to or from | ||||||
11 | cargo handling facilities for
the use of regional port | ||||||
12 | districts. Pursuant to appropriations setting forth
specific | ||||||
13 | projects and regional port districts, the Board shall contract
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14 | with the regional port district named in the Act making the
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15 | appropriation for cargo handling facilities. Such contract | ||||||
16 | shall provide
that the regional port district shall remit to | ||||||
17 | the State of Illinois an
amount equal to not more than 20%
of | ||||||
18 | the gross receipts attributable to those facilities, and not | ||||||
19 | less than
20% of the profit attributable to those facilities, | ||||||
20 | whether
collected by the regional port district or through an | ||||||
21 | operator or other
intermediary, until the full amount | ||||||
22 | appropriated and expended by the
State of Illinois has been | ||||||
23 | remitted to the State. The exact amount of,
the manner of, the |
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1 | method of and the time for such remittances shall be
agreed | ||||||
2 | upon by the particular port district and the Board
acting | ||||||
3 | through its Executive Director, and such agreement may, from | ||||||
4 | time to
time, be amended by the parties so as to alter or | ||||||
5 | modify the amount of,
manner of, method of and time for the | ||||||
6 | remittance, including, but not
limited to, the temporary | ||||||
7 | forgiveness, suspension or delay of the
remittances not to | ||||||
8 | exceed 24 months for any single suspension or delay. The
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9 | payback is subordinate solely to any outstanding public bond | ||||||
10 | agreements
existing at the time of the contract and solely for | ||||||
11 | the period of time of
the running of those bond agreements. For | ||||||
12 | any contract entered into under this Section, if, for a period | ||||||
13 | of 25 years, a regional port district has not been required to | ||||||
14 | remit any amount because the regional port district has failed | ||||||
15 | to achieve the required level of profit, then the regional port | ||||||
16 | district shall not be required to remit any amount under the | ||||||
17 | contract.
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18 | This Section shall apply to all regional port district
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19 | facilities to be constructed by the Board, including projects | ||||||
20 | for which
appropriations or reappropriations have been made | ||||||
21 | prior to June 30,
1976, and to all contracts existing prior to | ||||||
22 | January 1, 1986 ( the effective date of Public Act 84-781) this
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23 | amendatory Act of 1985 as well as contracts entered into on or | ||||||
24 | after such date.
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25 | (Source: P.A. 84-781.)
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1 | Section 10. The School Code is amended by changing Section | ||||||
2 | 19-1 as follows:
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3 | (105 ILCS 5/19-1)
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4 | Sec. 19-1. Debt limitations of school districts.
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5 | (a) School districts shall not be subject to the provisions | ||||||
6 | limiting their
indebtedness prescribed in "An Act to limit the | ||||||
7 | indebtedness of counties having
a population of less than | ||||||
8 | 500,000 and townships, school districts and other
municipal | ||||||
9 | corporations having a population of less than 300,000", | ||||||
10 | approved
February 15, 1928, as amended.
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11 | No school districts maintaining grades K through 8 or 9 | ||||||
12 | through 12
shall become indebted in any manner or for any | ||||||
13 | purpose to an amount,
including existing indebtedness, in the | ||||||
14 | aggregate exceeding 6.9% on the
value of the taxable property | ||||||
15 | therein to be ascertained by the last assessment
for State and | ||||||
16 | county taxes or, until January 1, 1983, if greater, the sum | ||||||
17 | that
is produced by multiplying the school district's 1978 | ||||||
18 | equalized assessed
valuation by the debt limitation percentage | ||||||
19 | in effect on January 1, 1979,
previous to the incurring of such | ||||||
20 | indebtedness.
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21 | No school districts maintaining grades K through 12 shall | ||||||
22 | become
indebted in any manner or for any purpose to an amount, | ||||||
23 | including
existing indebtedness, in the aggregate exceeding | ||||||
24 | 13.8% on the value of
the taxable property therein to be | ||||||
25 | ascertained by the last assessment
for State and county taxes |
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1 | or, until January 1, 1983, if greater, the sum that
is produced | ||||||
2 | by multiplying the school district's 1978 equalized assessed
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3 | valuation by the debt limitation percentage in effect on | ||||||
4 | January 1, 1979,
previous to the incurring of such | ||||||
5 | indebtedness.
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6 | No partial elementary unit district, as defined in Article | ||||||
7 | 11E of this Code, shall become indebted in any manner or for | ||||||
8 | any purpose in an amount, including existing indebtedness, in | ||||||
9 | the aggregate exceeding 6.9% of the value of the taxable | ||||||
10 | property of the entire district, to be ascertained by the last | ||||||
11 | assessment for State and county taxes, plus an amount, | ||||||
12 | including existing indebtedness, in the aggregate exceeding | ||||||
13 | 6.9% of the value of the taxable property of 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. Moreover, no partial elementary unit | ||||||
17 | district, as defined in Article 11E of this Code, shall become | ||||||
18 | indebted on account of bonds issued by the district for high | ||||||
19 | school purposes in the aggregate exceeding 6.9% of the value of | ||||||
20 | the taxable property of the entire district, to be ascertained | ||||||
21 | by the last assessment for State and county taxes, nor shall | ||||||
22 | the district become indebted on account of bonds issued by the | ||||||
23 | district for elementary purposes in the aggregate exceeding | ||||||
24 | 6.9% of the value of the taxable property for that portion of | ||||||
25 | the district included in the elementary and high school | ||||||
26 | classification, to be ascertained by the last assessment for |
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1 | State and county taxes.
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2 | Notwithstanding the provisions of any other law to the | ||||||
3 | contrary, in any
case in which the voters of a school district | ||||||
4 | have approved a proposition
for the issuance of bonds of such | ||||||
5 | school district at an election held prior
to January 1, 1979, | ||||||
6 | and all of the bonds approved at such election have
not been | ||||||
7 | issued, the debt limitation applicable to such school district
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8 | during the calendar year 1979 shall be computed by multiplying | ||||||
9 | the value
of taxable property therein, including personal | ||||||
10 | property, as ascertained
by the last assessment for State and | ||||||
11 | county taxes, previous to the incurring
of such indebtedness, | ||||||
12 | by the percentage limitation applicable to such school
district | ||||||
13 | under the provisions of this subsection (a).
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14 | (b) Notwithstanding the debt limitation prescribed in | ||||||
15 | subsection (a)
of this Section, additional indebtedness may be | ||||||
16 | incurred in an amount
not to exceed the estimated cost of | ||||||
17 | acquiring or improving school sites
or constructing and | ||||||
18 | equipping additional building facilities under the
following | ||||||
19 | conditions:
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20 | (1) Whenever the enrollment of students for the next | ||||||
21 | school year is
estimated by the board of education to | ||||||
22 | increase over the actual present
enrollment by not less | ||||||
23 | than 35% or by not less than 200 students or the
actual | ||||||
24 | present enrollment of students has increased over the | ||||||
25 | previous
school year by not less than 35% or by not less | ||||||
26 | than 200 students and
the board of education determines |
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1 | that additional school sites or
building facilities are | ||||||
2 | required as a result of such increase in
enrollment; and
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3 | (2) When the Regional Superintendent of Schools having | ||||||
4 | jurisdiction
over the school district and the State | ||||||
5 | Superintendent of Education
concur in such enrollment | ||||||
6 | projection or increase and approve the need
for such | ||||||
7 | additional school sites or building facilities and the
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8 | estimated cost thereof; and
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9 | (3) When the voters in the school district approve a | ||||||
10 | proposition for
the issuance of bonds for the purpose of | ||||||
11 | acquiring or improving such
needed school sites or | ||||||
12 | constructing and equipping such needed additional
building | ||||||
13 | facilities at an election called and held for that purpose.
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14 | Notice of such an election shall state that the amount of | ||||||
15 | indebtedness
proposed to be incurred would exceed the debt | ||||||
16 | limitation otherwise
applicable to the school district. | ||||||
17 | The ballot for such proposition
shall state what percentage | ||||||
18 | of the equalized assessed valuation will be
outstanding in | ||||||
19 | bonds if the proposed issuance of bonds is approved by
the | ||||||
20 | voters; or
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21 | (4) Notwithstanding the provisions of paragraphs (1) | ||||||
22 | through (3) of
this subsection (b), if the school board | ||||||
23 | determines that additional
facilities are needed to | ||||||
24 | provide a quality educational program and not
less than 2/3 | ||||||
25 | of those voting in an election called by the school board
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26 | on the question approve the issuance of bonds for the |
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1 | construction of
such facilities, the school district may | ||||||
2 | issue bonds for this
purpose; or
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3 | (5) Notwithstanding the provisions of paragraphs (1) | ||||||
4 | through (3) of this
subsection (b), if (i) the school | ||||||
5 | district has previously availed itself of the
provisions of | ||||||
6 | paragraph (4) of this subsection (b) to enable it to issue | ||||||
7 | bonds,
(ii) the voters of the school district have not | ||||||
8 | defeated a proposition for the
issuance of bonds since the | ||||||
9 | referendum described in paragraph (4) of this
subsection | ||||||
10 | (b) was held, (iii) the school board determines that | ||||||
11 | additional
facilities are needed to provide a quality | ||||||
12 | educational program, and (iv) a
majority of those voting in | ||||||
13 | an election called by the school board on the
question | ||||||
14 | approve the issuance of bonds for the construction of such | ||||||
15 | facilities,
the school district may issue bonds for this | ||||||
16 | purpose.
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17 | In no event shall the indebtedness incurred pursuant to | ||||||
18 | this
subsection (b) and the existing indebtedness of the school | ||||||
19 | district
exceed 15% of the value of the taxable property | ||||||
20 | therein to be
ascertained by the last assessment for State and | ||||||
21 | county taxes, previous
to the incurring of such indebtedness | ||||||
22 | or, until January 1, 1983, if greater,
the sum that is produced | ||||||
23 | by multiplying the school district's 1978 equalized
assessed | ||||||
24 | valuation by the debt limitation percentage in effect on | ||||||
25 | January 1,
1979.
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26 | The indebtedness provided for by this subsection (b) shall |
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1 | be in
addition to and in excess of any other debt limitation.
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2 | (c) Notwithstanding the debt limitation prescribed in | ||||||
3 | subsection (a)
of this Section, in any case in which a public | ||||||
4 | question for the issuance
of bonds of a proposed school | ||||||
5 | district maintaining grades kindergarten
through 12 received | ||||||
6 | at least 60% of the valid ballots cast on the question at
an | ||||||
7 | election held on or prior to November 8, 1994, and in which the | ||||||
8 | bonds
approved at such election have not been issued, the | ||||||
9 | school district pursuant to
the requirements of Section 11A-10 | ||||||
10 | (now repealed) may issue the total amount of bonds approved
at | ||||||
11 | such election for the purpose stated in the question.
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12 | (d) Notwithstanding the debt limitation prescribed in | ||||||
13 | subsection (a)
of this Section, a school district that meets | ||||||
14 | all the criteria set forth in
paragraphs (1) and (2) of this | ||||||
15 | subsection (d) may incur an additional
indebtedness in an | ||||||
16 | amount not to exceed $4,500,000, even though the amount of
the | ||||||
17 | additional indebtedness authorized by this subsection (d), | ||||||
18 | when incurred
and added to the aggregate amount of indebtedness | ||||||
19 | of the district existing
immediately prior to the district | ||||||
20 | incurring the additional indebtedness
authorized by this | ||||||
21 | subsection (d), causes the aggregate indebtedness of the
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22 | district to exceed the debt limitation otherwise applicable to | ||||||
23 | that district
under subsection (a):
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24 | (1) The additional indebtedness authorized by this | ||||||
25 | subsection (d) is
incurred by the school district through | ||||||
26 | the issuance of bonds under and in
accordance with Section |
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1 | 17-2.11a for the purpose of replacing a school
building | ||||||
2 | which, because of mine subsidence damage, has been closed | ||||||
3 | as provided
in paragraph (2) of this subsection (d) or | ||||||
4 | through the issuance of bonds under
and in accordance with | ||||||
5 | Section 19-3 for the purpose of increasing the size of,
or | ||||||
6 | providing for additional functions in, such replacement | ||||||
7 | school buildings, or
both such purposes.
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8 | (2) The bonds issued by the school district as provided | ||||||
9 | in paragraph (1)
above are issued for the purposes of | ||||||
10 | construction by the school district of
a new school | ||||||
11 | building pursuant to Section 17-2.11, to replace an | ||||||
12 | existing
school building that, because of mine subsidence | ||||||
13 | damage, is closed as of the
end of the 1992-93 school year | ||||||
14 | pursuant to action of the regional
superintendent of | ||||||
15 | schools of the educational service region in which the
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16 | district is located under Section 3-14.22 or are issued for | ||||||
17 | the purpose of
increasing the size of, or providing for | ||||||
18 | additional functions in, the new
school building being | ||||||
19 | constructed to replace a school building closed as the
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20 | result of mine subsidence damage, or both such purposes.
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21 | (e) (Blank).
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22 | (f) Notwithstanding the provisions of subsection (a) of | ||||||
23 | this Section or of
any other law, bonds in not to exceed the | ||||||
24 | aggregate amount of $5,500,000 and
issued by a school district | ||||||
25 | meeting the following criteria shall not be
considered | ||||||
26 | indebtedness for purposes of any statutory limitation and may |
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1 | be
issued in an amount or amounts, including existing | ||||||
2 | indebtedness, in excess of
any heretofore or hereafter imposed | ||||||
3 | statutory limitation as to indebtedness:
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4 | (1) At the time of the sale of such bonds, the board of | ||||||
5 | education of the
district shall have determined by | ||||||
6 | resolution that the enrollment of students in
the district | ||||||
7 | is projected to increase by not less than 7% during each of | ||||||
8 | the
next succeeding 2 school years.
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9 | (2) The board of education shall also determine by | ||||||
10 | resolution that the
improvements to be financed with the | ||||||
11 | proceeds of the bonds are needed because
of the projected | ||||||
12 | enrollment increases.
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13 | (3) The board of education shall also determine by | ||||||
14 | resolution that the
projected increases in enrollment are | ||||||
15 | the result of improvements made or
expected to be made to | ||||||
16 | passenger rail facilities located in the school
district.
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17 | Notwithstanding the provisions of subsection (a) of this | ||||||
18 | Section or of any other law, a school district that has availed | ||||||
19 | itself of the provisions of this subsection (f) prior to July | ||||||
20 | 22, 2004 (the effective date of Public Act 93-799) may also | ||||||
21 | issue bonds approved by referendum up to an amount, including | ||||||
22 | existing indebtedness, not exceeding 25% of the equalized | ||||||
23 | assessed value of the taxable property in the district if all | ||||||
24 | of the conditions set forth in items (1), (2), and (3) of this | ||||||
25 | subsection (f) are met.
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26 | (g) Notwithstanding the provisions of subsection (a) of |
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1 | this Section or any
other law, bonds in not to exceed an | ||||||
2 | aggregate amount of 25% of the equalized
assessed value of the | ||||||
3 | taxable property of a school district and issued by a
school | ||||||
4 | district meeting the criteria in paragraphs (i) through (iv) of | ||||||
5 | this
subsection shall not be considered indebtedness for | ||||||
6 | purposes of any statutory
limitation and may be issued pursuant | ||||||
7 | to resolution of the school board in an
amount or amounts, | ||||||
8 | including existing indebtedness, in
excess of any statutory | ||||||
9 | limitation of indebtedness heretofore or hereafter
imposed:
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10 | (i) The bonds are issued for the purpose of | ||||||
11 | constructing a new high school
building to replace two | ||||||
12 | adjacent existing buildings which together house a
single | ||||||
13 | high school, each of which is more than 65 years old, and | ||||||
14 | which together
are located on more than 10 acres and less | ||||||
15 | than 11 acres of property.
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16 | (ii) At the time the resolution authorizing the | ||||||
17 | issuance of the bonds is
adopted, the cost of constructing | ||||||
18 | a new school building to replace the existing
school | ||||||
19 | building is less than 60% of the cost of repairing the | ||||||
20 | existing school
building.
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21 | (iii) The sale of the bonds occurs before July 1, 1997.
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22 | (iv) The school district issuing the bonds is a unit | ||||||
23 | school district
located in a county of less than 70,000 and | ||||||
24 | more than 50,000 inhabitants,
which has an average daily | ||||||
25 | attendance of less than 1,500 and an equalized
assessed | ||||||
26 | valuation of less than $29,000,000.
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1 | (h) Notwithstanding any other provisions of this Section or | ||||||
2 | the
provisions of any other law, until January 1, 1998, 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 27.6% of the equalized assessed
| ||||||
6 | value of the taxable property in the district, if all of the | ||||||
7 | following
conditions are met:
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8 | (i) The school district has an equalized assessed | ||||||
9 | valuation for calendar
year 1995 of less than $24,000,000;
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10 | (ii) The bonds are issued for the capital improvement, | ||||||
11 | renovation,
rehabilitation, or replacement of existing | ||||||
12 | school buildings of the district,
all of which buildings | ||||||
13 | were originally constructed not less than 40 years ago;
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14 | (iii) The voters of the district approve a proposition | ||||||
15 | for the issuance of
the bonds at a referendum held after | ||||||
16 | March 19, 1996; and
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17 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
18 | through 19-7 of this
Code.
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19 | (i) Notwithstanding any other provisions of this Section or | ||||||
20 | the provisions
of any other law, until January 1, 1998, a | ||||||
21 | community unit school district
maintaining grades K through 12 | ||||||
22 | may issue bonds up to an amount, including
existing | ||||||
23 | indebtedness, not exceeding 27% of the equalized assessed value | ||||||
24 | of the
taxable property in the district, if all of the | ||||||
25 | following conditions are met:
| ||||||
26 | (i) The school district has an equalized assessed |
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1 | valuation for calendar
year 1995 of less than $44,600,000;
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2 | (ii) The bonds are issued for the capital improvement, | ||||||
3 | renovation,
rehabilitation, or replacement
of existing | ||||||
4 | school buildings of the district, all of which
existing | ||||||
5 | buildings were originally constructed not less than 80 | ||||||
6 | years ago;
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7 | (iii) The voters of the district approve a proposition | ||||||
8 | for the issuance of
the bonds at a referendum held after | ||||||
9 | December 31, 1996; and
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10 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
11 | through 19-7 of this
Code.
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12 | (j) Notwithstanding any other provisions of this Section or | ||||||
13 | the
provisions of any other law, until January 1, 1999, 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 27% of the equalized assessed
value | ||||||
17 | of the taxable property in the district if all of the following
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18 | conditions are met:
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19 | (i) The school district has an equalized assessed | ||||||
20 | valuation for calendar
year 1995 of less than $140,000,000 | ||||||
21 | and a best 3 months
average daily
attendance for the | ||||||
22 | 1995-96 school year of at least 2,800;
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23 | (ii) The bonds are issued to purchase a site and build | ||||||
24 | and equip a new
high school, and the school district's | ||||||
25 | existing high school was originally
constructed not less | ||||||
26 | than 35
years prior to the sale of the bonds;
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1 | (iii) At the time of the sale of the bonds, the board | ||||||
2 | of education
determines
by resolution that a new high | ||||||
3 | school is needed because of projected enrollment
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4 | increases;
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5 | (iv) At least 60% of those voting in an election held
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6 | after December 31, 1996 approve a proposition
for the | ||||||
7 | issuance of
the bonds; and
| ||||||
8 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
9 | through
19-7 of this Code.
| ||||||
10 | (k) Notwithstanding the debt limitation prescribed in | ||||||
11 | subsection (a) of
this Section, a school district that meets | ||||||
12 | all the criteria set forth in
paragraphs (1) through (4) of | ||||||
13 | this subsection (k) may issue bonds to incur an
additional | ||||||
14 | indebtedness in an amount not to exceed $4,000,000 even though | ||||||
15 | the
amount of the additional indebtedness authorized by this | ||||||
16 | subsection (k), when
incurred and added to the aggregate amount | ||||||
17 | of indebtedness of the school
district existing immediately | ||||||
18 | prior to the school district incurring such
additional | ||||||
19 | indebtedness, causes the aggregate indebtedness of the school
| ||||||
20 | district to exceed or increases the amount by which the | ||||||
21 | aggregate indebtedness
of the district already exceeds the debt | ||||||
22 | limitation otherwise applicable to
that school district under | ||||||
23 | subsection (a):
| ||||||
24 | (1) the school district is located in 2 counties, and a | ||||||
25 | referendum to
authorize the additional indebtedness was | ||||||
26 | approved by a majority of the voters
of the school district |
| |||||||
| |||||||
1 | voting on the proposition to authorize that
indebtedness;
| ||||||
2 | (2) the additional indebtedness is for the purpose of | ||||||
3 | financing a
multi-purpose room addition to the existing | ||||||
4 | high school;
| ||||||
5 | (3) the additional indebtedness, together with the | ||||||
6 | existing indebtedness
of the school district, shall not | ||||||
7 | exceed 17.4% of the value of the taxable
property in the | ||||||
8 | school district, to be ascertained by the last assessment | ||||||
9 | for
State and county taxes; and
| ||||||
10 | (4) the bonds evidencing the additional indebtedness | ||||||
11 | are issued, if at
all, within 120 days of the effective | ||||||
12 | date of this amendatory Act of 1998.
| ||||||
13 | (l) Notwithstanding any other provisions of this Section or | ||||||
14 | the
provisions of any other law, until January 1, 2000, a | ||||||
15 | school district
maintaining grades kindergarten through 8 may | ||||||
16 | issue bonds up to an amount,
including existing indebtedness, | ||||||
17 | not exceeding 15% of the equalized assessed
value of the | ||||||
18 | taxable property in the district if all of the following
| ||||||
19 | conditions are met:
| ||||||
20 | (i) the district has an equalized assessed valuation | ||||||
21 | for calendar year
1996 of less than $10,000,000;
| ||||||
22 | (ii) the bonds are issued for capital improvement, | ||||||
23 | renovation,
rehabilitation, or replacement of one or more | ||||||
24 | school buildings of the district,
which buildings were | ||||||
25 | originally constructed not less than 70 years ago;
| ||||||
26 | (iii) the voters of the district approve a proposition |
| |||||||
| |||||||
1 | for the issuance of
the bonds at a referendum held on or | ||||||
2 | after March 17, 1998; and
| ||||||
3 | (iv) the bonds are issued pursuant to Sections 19-2 | ||||||
4 | through 19-7 of this
Code.
| ||||||
5 | (m) Notwithstanding any other provisions of this Section or | ||||||
6 | the provisions
of
any other law, until January 1, 1999, an | ||||||
7 | elementary school district maintaining
grades K through 8 may | ||||||
8 | issue bonds up to an amount, excluding existing
indebtedness, | ||||||
9 | not exceeding 18% of the equalized assessed value of the | ||||||
10 | taxable
property in the district, if all of the following | ||||||
11 | conditions are met:
| ||||||
12 | (i) The school district has an equalized assessed | ||||||
13 | valuation for calendar
year 1995 or less than $7,700,000;
| ||||||
14 | (ii) The school district operates 2 elementary | ||||||
15 | attendance centers that
until
1976 were operated as the | ||||||
16 | attendance centers of 2 separate and distinct school
| ||||||
17 | districts;
| ||||||
18 | (iii) The bonds are issued for the construction of a | ||||||
19 | new elementary school
building to replace an existing | ||||||
20 | multi-level elementary school building of the
school | ||||||
21 | district that is not handicapped accessible at all levels | ||||||
22 | and parts of
which were constructed more than 75 years ago;
| ||||||
23 | (iv) The voters of the school district approve a | ||||||
24 | proposition for the
issuance of the bonds at a referendum | ||||||
25 | held after July 1, 1998; and
| ||||||
26 | (v) The bonds are issued pursuant to Sections 19-2 |
| |||||||
| |||||||
1 | through 19-7 of this
Code.
| ||||||
2 | (n) Notwithstanding the debt limitation prescribed in | ||||||
3 | subsection (a) of
this Section or any other provisions of this | ||||||
4 | Section or of any other law, a
school district that meets all | ||||||
5 | of the criteria set forth in paragraphs (i)
through (vi) of | ||||||
6 | this subsection (n) may incur additional indebtedness by the
| ||||||
7 | issuance of bonds in an amount not exceeding the amount | ||||||
8 | certified by the
Capital Development Board to the school | ||||||
9 | district as provided in paragraph (iii)
of
this subsection (n), | ||||||
10 | even though the amount of the additional indebtedness so
| ||||||
11 | authorized, when incurred and added to the aggregate amount of | ||||||
12 | indebtedness of
the district existing immediately prior to the | ||||||
13 | district incurring the
additional indebtedness authorized by | ||||||
14 | this subsection (n), causes the aggregate
indebtedness of the | ||||||
15 | district to exceed the debt limitation otherwise applicable
by | ||||||
16 | law to that district:
| ||||||
17 | (i) The school district applies to the State Board of | ||||||
18 | Education for a
school construction project grant and | ||||||
19 | submits a district facilities plan in
support
of its | ||||||
20 | application pursuant to Section 5-20 of
the School | ||||||
21 | Construction Law.
| ||||||
22 | (ii) The school district's application and facilities | ||||||
23 | plan are approved
by,
and the district receives a grant | ||||||
24 | entitlement for a school construction project
issued by, | ||||||
25 | the State Board of Education under the School Construction | ||||||
26 | Law.
|
| |||||||
| |||||||
1 | (iii) The school district has exhausted its bonding | ||||||
2 | capacity or the unused
bonding capacity of the district is | ||||||
3 | less than the amount certified by the
Capital Development | ||||||
4 | Board to the district under Section 5-15 of the School
| ||||||
5 | Construction Law as the dollar amount of the school | ||||||
6 | construction project's cost
that the district will be | ||||||
7 | required to finance with non-grant funds in order to
| ||||||
8 | receive a school construction project grant under the | ||||||
9 | School Construction Law.
| ||||||
10 | (iv) The bonds are issued for a "school construction | ||||||
11 | project", as that
term is defined in Section 5-5 of the | ||||||
12 | School Construction Law, in an amount
that does not exceed | ||||||
13 | the dollar amount certified, as provided in paragraph
(iii) | ||||||
14 | of this subsection (n), by the Capital Development Board
to | ||||||
15 | the school
district under Section 5-15 of the School | ||||||
16 | Construction Law.
| ||||||
17 | (v) The voters of the district approve a proposition | ||||||
18 | for the issuance of
the bonds at a referendum held after | ||||||
19 | the criteria specified in paragraphs (i)
and (iii) of this | ||||||
20 | subsection (n) are met.
| ||||||
21 | (vi) The bonds are issued pursuant to Sections 19-2 | ||||||
22 | through 19-7 of the
School Code.
| ||||||
23 | (o) Notwithstanding any other provisions of this Section or | ||||||
24 | the
provisions of any other law, until November 1, 2007, a | ||||||
25 | community unit
school district maintaining grades K through 12 | ||||||
26 | may issue bonds up to
an amount, including existing |
| |||||||
| |||||||
1 | indebtedness, not exceeding 20% of the
equalized assessed value | ||||||
2 | of the taxable property in the district if all of the
following | ||||||
3 | conditions are met:
| ||||||
4 | (i) the school district has an equalized assessed | ||||||
5 | valuation
for calendar year 2001 of at least $737,000,000 | ||||||
6 | and an enrollment
for the 2002-2003 school year of at least | ||||||
7 | 8,500;
| ||||||
8 | (ii) the bonds are issued to purchase school sites, | ||||||
9 | build and
equip a new high school, build and equip a new | ||||||
10 | junior high school,
build and equip 5 new elementary | ||||||
11 | schools, and make technology
and other improvements and | ||||||
12 | additions to existing schools;
| ||||||
13 | (iii) at the time of the sale of the bonds, the board | ||||||
14 | of
education determines by resolution that the sites and | ||||||
15 | new or
improved facilities are needed because of projected | ||||||
16 | enrollment
increases;
| ||||||
17 | (iv) at least 57% of those voting in a general election | ||||||
18 | held
prior to January 1, 2003 approved a proposition for | ||||||
19 | the issuance of
the bonds; and
| ||||||
20 | (v) the bonds are issued pursuant to Sections 19-2 | ||||||
21 | through
19-7 of this Code.
| ||||||
22 | (p) Notwithstanding any other provisions of this Section or | ||||||
23 | the provisions of any other law, a community unit school | ||||||
24 | district maintaining grades K through 12 may issue bonds up to | ||||||
25 | an amount, including indebtedness, not exceeding 27% of the | ||||||
26 | equalized assessed value of the taxable property in the |
| |||||||
| |||||||
1 | district if all of the following conditions are met: | ||||||
2 | (i) The school district has an equalized assessed | ||||||
3 | valuation for calendar year 2001 of at least $295,741,187 | ||||||
4 | and a best 3 months' average daily attendance for the | ||||||
5 | 2002-2003 school year of at least 2,394. | ||||||
6 | (ii) The bonds are issued to build and equip 3 | ||||||
7 | elementary school buildings; build and equip one middle | ||||||
8 | school building; and alter, repair, improve, and equip all | ||||||
9 | existing school buildings in the district. | ||||||
10 | (iii) At the time of the sale of the bonds, the board | ||||||
11 | of education determines by resolution that the project is | ||||||
12 | needed because of expanding growth in the school district | ||||||
13 | and a projected enrollment increase. | ||||||
14 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
15 | through 19-7 of this Code.
| ||||||
16 | (p-5) Notwithstanding any other provisions of this Section | ||||||
17 | or the provisions of any other law, bonds issued by a community | ||||||
18 | unit school district maintaining grades K through 12 shall not | ||||||
19 | be considered indebtedness for purposes of any statutory | ||||||
20 | limitation and may be issued in an amount or amounts, including | ||||||
21 | existing indebtedness, in excess of any heretofore or hereafter | ||||||
22 | imposed statutory limitation as to indebtedness, if all of the | ||||||
23 | following conditions are met: | ||||||
24 | (i) For each of the 4 most recent years, residential | ||||||
25 | property comprises more than 80% of the equalized assessed | ||||||
26 | valuation of the district. |
| |||||||
| |||||||
1 | (ii) At least 2 school buildings that were constructed | ||||||
2 | 40 or more years prior to the issuance of the bonds will be | ||||||
3 | demolished and will be replaced by new buildings or | ||||||
4 | additions to one or more existing buildings. | ||||||
5 | (iii) Voters of the district approve a proposition for | ||||||
6 | the issuance of the bonds at a regularly scheduled | ||||||
7 | election. | ||||||
8 | (iv) At the time of the sale of the bonds, the school | ||||||
9 | board determines by resolution that the new buildings or | ||||||
10 | building additions are needed because of an increase in | ||||||
11 | enrollment projected by the school board. | ||||||
12 | (v) The principal amount of the bonds, including | ||||||
13 | existing indebtedness, does not exceed 25% of the equalized | ||||||
14 | assessed value of the taxable property in the district. | ||||||
15 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
16 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
17 | (p-10) Notwithstanding any other provisions of this | ||||||
18 | Section or the provisions of any other law, bonds issued by a | ||||||
19 | community consolidated school district maintaining grades K | ||||||
20 | through 8 shall not be considered indebtedness for purposes of | ||||||
21 | any statutory limitation and may be issued in an amount or | ||||||
22 | amounts, including existing indebtedness, in excess of any | ||||||
23 | heretofore or hereafter imposed statutory limitation as to | ||||||
24 | indebtedness, if all of the following conditions are met: | ||||||
25 | (i) For each of the 4 most recent years, residential | ||||||
26 | and farm property comprises more than 80% of the equalized |
| |||||||
| |||||||
1 | assessed valuation of the district. | ||||||
2 | (ii) The bond proceeds are to be used to acquire and | ||||||
3 | improve school sites and build and equip a school building. | ||||||
4 | (iii) Voters of the district approve a proposition for | ||||||
5 | the issuance of the bonds at a regularly scheduled | ||||||
6 | election. | ||||||
7 | (iv) At the time of the sale of the bonds, the school | ||||||
8 | board determines by resolution that the school sites and | ||||||
9 | building additions are needed because of an increase in | ||||||
10 | enrollment projected by the school board. | ||||||
11 | (v) The principal amount of the bonds, including | ||||||
12 | existing indebtedness, does not exceed 20% of the equalized | ||||||
13 | assessed value of the taxable property in the district. | ||||||
14 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
15 | pursuant to Sections 19-2 through 19-7 of this Code.
| ||||||
16 | (p-15) In addition to all other authority to issue bonds, | ||||||
17 | the Oswego Community Unit School District Number 308 may issue | ||||||
18 | bonds with an aggregate principal amount not to exceed | ||||||
19 | $450,000,000, but only if all of the following conditions are | ||||||
20 | met: | ||||||
21 | (i) The voters of the district have approved a | ||||||
22 | proposition for the bond issue at the general election held | ||||||
23 | on November 7, 2006. | ||||||
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 the new high school building, new junior high |
| |||||||
| |||||||
1 | school buildings, new elementary school buildings, early | ||||||
2 | childhood building, maintenance building, transportation | ||||||
3 | facility, and additions to existing school buildings, the | ||||||
4 | altering, repairing, equipping, and provision of | ||||||
5 | technology improvements to existing school buildings, and | ||||||
6 | the acquisition and improvement of school sites, as the | ||||||
7 | case may be, are required as a result of a projected | ||||||
8 | increase in the enrollment of students in the district; and | ||||||
9 | (B) the sale of bonds for these purposes is authorized by | ||||||
10 | legislation that exempts the debt incurred on the bonds | ||||||
11 | from the district's statutory debt limitation.
| ||||||
12 | (iii) The bonds are issued, in one or more bond issues, | ||||||
13 | on or before November 7, 2011, but the aggregate principal | ||||||
14 | amount issued in all such bond issues combined must not | ||||||
15 | exceed $450,000,000.
| ||||||
16 | (iv) The bonds are issued in accordance with this | ||||||
17 | Article 19. | ||||||
18 | (v) The proceeds of the bonds are used only to | ||||||
19 | accomplish those projects approved by the voters at the | ||||||
20 | general election held on November 7, 2006. | ||||||
21 | The debt incurred on any bonds issued under this subsection | ||||||
22 | (p-15) shall not be considered indebtedness for purposes of any | ||||||
23 | statutory debt limitation.
| ||||||
24 | (p-20) In addition to all other authority to issue bonds, | ||||||
25 | the Lincoln-Way Community High School District Number 210 may | ||||||
26 | issue bonds with an aggregate principal amount not to exceed |
| |||||||
| |||||||
1 | $225,000,000, but only if all of the following conditions are | ||||||
2 | met: | ||||||
3 | (i) The voters of the district have approved a | ||||||
4 | proposition for the bond issue at the general primary | ||||||
5 | election held on March 21, 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 buildings, the altering, | ||||||
9 | repairing, and equipping of existing school buildings, and | ||||||
10 | the improvement of school sites, as the case may be, are | ||||||
11 | required as a result of a projected increase in the | ||||||
12 | enrollment of students in the district; and (B) the sale of | ||||||
13 | bonds for these purposes is authorized by legislation that | ||||||
14 | exempts the debt incurred on the bonds from the district's | ||||||
15 | statutory debt limitation.
| ||||||
16 | (iii) The bonds are issued, in one or more bond issues, | ||||||
17 | on or before March 21, 2011, but the aggregate principal | ||||||
18 | amount issued in all such bond issues combined must not | ||||||
19 | exceed $225,000,000.
| ||||||
20 | (iv) The bonds are issued in accordance with this | ||||||
21 | Article 19. | ||||||
22 | (v) The proceeds of the bonds are used only to | ||||||
23 | accomplish those projects approved by the voters at the | ||||||
24 | primary election held on March 21, 2006. | ||||||
25 | The debt incurred on any bonds issued under this subsection | ||||||
26 | (p-20) shall not be considered indebtedness for purposes of any |
| |||||||
| |||||||
1 | statutory debt limitation.
| ||||||
2 | (p-25) In addition to all other authority to issue bonds, | ||||||
3 | Rochester Community Unit School District 3A may issue bonds | ||||||
4 | with an aggregate principal amount not to exceed $18,500,000, | ||||||
5 | but only if all of the following conditions are met: | ||||||
6 | (i) The voters of the district approve a proposition | ||||||
7 | for the bond issuance at the general primary election held | ||||||
8 | in 2008.
| ||||||
9 | (ii) At the time of the sale of the bonds, the school | ||||||
10 | board determines, by resolution, that: (A) the building and | ||||||
11 | equipping of a new high school building; the addition of | ||||||
12 | classrooms and support facilities at the high school, | ||||||
13 | middle school, and elementary school; the altering, | ||||||
14 | repairing, and equipping of existing school buildings; and | ||||||
15 | the improvement of school sites, as the case may be, are | ||||||
16 | required as a result of a projected increase in the | ||||||
17 | enrollment of students in the district; and (B) the sale of | ||||||
18 | bonds for these purposes is authorized by a law that | ||||||
19 | exempts the debt incurred on the bonds from the district's | ||||||
20 | statutory debt limitation. | ||||||
21 | (iii) The bonds are issued, in one or more bond issues, | ||||||
22 | on or before December 31, 2012, but the aggregate principal | ||||||
23 | amount issued in all such bond issues combined must not | ||||||
24 | exceed $18,500,000. | ||||||
25 | (iv) The bonds are issued in accordance with this | ||||||
26 | Article 19. |
| |||||||
| |||||||
1 | (v) The proceeds of the bonds are used to accomplish | ||||||
2 | only those projects approved by the voters at the primary | ||||||
3 | election held in 2008.
| ||||||
4 | The debt incurred on any bonds issued under this subsection | ||||||
5 | (p-25) shall not be considered indebtedness for purposes of any | ||||||
6 | statutory debt limitation.
| ||||||
7 | (p-30) In addition to all other authority to issue bonds, | ||||||
8 | Prairie Grove Consolidated School District 46 may issue bonds | ||||||
9 | with an aggregate principal amount not to exceed $30,000,000, | ||||||
10 | but only if all of the following conditions are met:
| ||||||
11 | (i) The voters of the district approve a proposition | ||||||
12 | for the bond issuance at an election held in 2008.
| ||||||
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 a new school building and additions to | ||||||
16 | existing school buildings are required as a result of a | ||||||
17 | projected increase in the enrollment of students in the | ||||||
18 | district and (B) the altering, repairing, and equipping of | ||||||
19 | existing school buildings are required because of the age | ||||||
20 | of the existing school buildings.
| ||||||
21 | (iii) The bonds are issued, in one or more bond | ||||||
22 | issuances, on or before December 31, 2012; however, the | ||||||
23 | aggregate principal amount issued in all such bond | ||||||
24 | issuances combined must not exceed $30,000,000.
| ||||||
25 | (iv) The bonds are issued in accordance with this | ||||||
26 | Article.
|
| |||||||
| |||||||
1 | (v) The proceeds of the bonds are used to accomplish | ||||||
2 | only those projects approved by the voters at an election | ||||||
3 | held in 2008.
| ||||||
4 | The debt incurred on any bonds issued under this subsection | ||||||
5 | (p-30) shall not be considered indebtedness for purposes of any | ||||||
6 | statutory debt limitation.
| ||||||
7 | (p-35) In addition to all other authority to issue bonds, | ||||||
8 | Prairie Hill Community Consolidated School District 133 may | ||||||
9 | issue bonds with an aggregate principal amount not to exceed | ||||||
10 | $13,900,000, but only if all of the following conditions are | ||||||
11 | met:
| ||||||
12 | (i) The voters of the district approved a proposition | ||||||
13 | for the bond issuance at an election held on April 17, | ||||||
14 | 2007.
| ||||||
15 | (ii) At the time of the sale of the bonds, the school | ||||||
16 | board determines, by resolution, that (A) the improvement | ||||||
17 | of the site of and the building and equipping of a school | ||||||
18 | building are required as a result of a projected increase | ||||||
19 | in the enrollment of students in the district and (B) the | ||||||
20 | repairing and equipping of the Prairie Hill Elementary | ||||||
21 | School building is required because of the age of that | ||||||
22 | school building.
| ||||||
23 | (iii) The bonds are issued, in one or more bond | ||||||
24 | issuances, on or before December 31, 2011, but the | ||||||
25 | aggregate principal amount issued in all such bond | ||||||
26 | issuances combined must not exceed $13,900,000.
|
| |||||||
| |||||||
1 | (iv) The bonds are issued in accordance with this | ||||||
2 | Article.
| ||||||
3 | (v) The proceeds of the bonds are used to accomplish | ||||||
4 | only those projects approved by the voters at an election | ||||||
5 | held on April 17, 2007.
| ||||||
6 | The debt incurred on any bonds issued under this subsection | ||||||
7 | (p-35) shall not be considered indebtedness for purposes of any | ||||||
8 | statutory debt limitation.
| ||||||
9 | (p-40) In addition to all other authority to issue bonds, | ||||||
10 | Mascoutah Community Unit District 19 may issue bonds with an | ||||||
11 | aggregate principal amount not to exceed $55,000,000, but only | ||||||
12 | if all of the following conditions are met: | ||||||
13 | (1) The voters of the district approve a proposition | ||||||
14 | for the bond issuance at a regular election held on or | ||||||
15 | after November 4, 2008. | ||||||
16 | (2) At the time of the sale of the bonds, the school | ||||||
17 | board determines, by resolution, that (i) the building and | ||||||
18 | equipping of a new high school building is required as a | ||||||
19 | result of a projected increase in the enrollment of | ||||||
20 | students in the district and the age and condition of the | ||||||
21 | existing high school building, (ii) the existing high | ||||||
22 | school building will be demolished, and (iii) the sale of | ||||||
23 | bonds is authorized by statute that exempts the debt | ||||||
24 | incurred on the bonds from the district's statutory debt | ||||||
25 | limitation. | ||||||
26 | (3) The bonds are issued, in one or more bond |
| |||||||
| |||||||
1 | issuances, on or before December 31, 2011, but the | ||||||
2 | aggregate principal amount issued in all such bond | ||||||
3 | issuances combined must not exceed $55,000,000. | ||||||
4 | (4) The bonds are issued in accordance with this | ||||||
5 | Article. | ||||||
6 | (5) The proceeds of the bonds are used to accomplish | ||||||
7 | only those projects approved by the voters at a regular | ||||||
8 | election held on or after November 4, 2008. | ||||||
9 | The debt incurred on any bonds issued under this subsection | ||||||
10 | (p-40) shall not be considered indebtedness for purposes of any | ||||||
11 | statutory debt limitation. | ||||||
12 | (p-45) Notwithstanding the provisions of subsection (a) of | ||||||
13 | this Section or of any other law, bonds issued pursuant to | ||||||
14 | Section 19-3.5 of this Code shall not be considered | ||||||
15 | indebtedness for purposes of any statutory limitation if the | ||||||
16 | bonds are issued in an amount or amounts, including existing | ||||||
17 | indebtedness of the school district, not in excess of 18.5% of | ||||||
18 | the value of the taxable property in the district to be | ||||||
19 | ascertained by the last assessment for State and county taxes. | ||||||
20 | (p-50) Notwithstanding the provisions of subsection (a) of
| ||||||
21 | this Section or of any other law, bonds issued pursuant to
| ||||||
22 | Section 19-3.10 of this Code shall not be considered
| ||||||
23 | indebtedness for purposes of any statutory limitation if the
| ||||||
24 | bonds are issued in an amount or amounts, including existing
| ||||||
25 | indebtedness of the school district, not in excess of 43% of
| ||||||
26 | the value of the taxable property in the district to be
|
| |||||||
| |||||||
1 | ascertained by the last assessment for State and county taxes. | ||||||
2 | (p-55) In addition to all other authority to issue bonds, | ||||||
3 | Belle Valley School District 119 may issue bonds with an | ||||||
4 | aggregate principal amount not to exceed $47,500,000, but only | ||||||
5 | if all of the following conditions are met: | ||||||
6 | (1) The voters of the district approve a proposition | ||||||
7 | for the bond issuance at an election held on or after April | ||||||
8 | 7, 2009. | ||||||
9 | (2) Prior to the issuance of the bonds, the school | ||||||
10 | board determines, by resolution, that (i) the building and | ||||||
11 | equipping of a new school building is required as a result | ||||||
12 | of mine subsidence in an existing school building and | ||||||
13 | because of the age and condition of another existing school | ||||||
14 | building and (ii) the issuance of bonds is authorized by | ||||||
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 bond | ||||||
18 | issuances, on or before March 31, 2014, but the aggregate | ||||||
19 | principal amount issued in all such bond issuances combined | ||||||
20 | must not exceed $47,500,000. | ||||||
21 | (4) The bonds are issued in accordance with this | ||||||
22 | Article. | ||||||
23 | (5) The proceeds of the bonds are used to accomplish | ||||||
24 | only those projects approved by the voters at an election | ||||||
25 | held on or after April 7, 2009. | ||||||
26 | The debt incurred on any bonds issued under this subsection |
| |||||||
| |||||||
1 | (p-55) shall not be considered indebtedness for purposes of any | ||||||
2 | statutory debt limitation. Bonds issued under this subsection | ||||||
3 | (p-55) must mature within not to exceed 30 years from their | ||||||
4 | date, notwithstanding any other law to the contrary. | ||||||
5 | (p-60) In addition to all other authority to issue bonds, | ||||||
6 | Wilmington Community Unit School District Number 209-U may | ||||||
7 | issue bonds with an aggregate principal amount not to exceed | ||||||
8 | $2,285,000, but only if all of the following conditions are | ||||||
9 | met: | ||||||
10 | (1) The proceeds of the bonds are used to accomplish | ||||||
11 | only those projects approved by the voters at the general | ||||||
12 | primary election held on March 21, 2006. | ||||||
13 | (2) Prior to the issuance of the bonds, the school | ||||||
14 | board determines, by resolution, that (i) the projects | ||||||
15 | approved by the voters were and are required because of the | ||||||
16 | age and condition of the school district's prior and | ||||||
17 | existing school buildings and (ii) the issuance of the | ||||||
18 | bonds is authorized by legislation that exempts the debt | ||||||
19 | incurred on the bonds from the district's statutory debt | ||||||
20 | limitation. | ||||||
21 | (3) The bonds are issued in one or more bond issuances | ||||||
22 | on or before March 1, 2011, but the aggregate principal | ||||||
23 | amount issued in all those bond issuances combined must not | ||||||
24 | exceed $2,285,000. | ||||||
25 | (4) The bonds are issued in accordance with this | ||||||
26 | Article. |
| |||||||
| |||||||
1 | The debt incurred on any bonds issued under this subsection | ||||||
2 | (p-60) shall not be considered indebtedness for purposes of any | ||||||
3 | statutory debt limitation. | ||||||
4 | (p-65) In addition to all other authority to issue bonds, | ||||||
5 | West Washington County Community Unit School District 10 may | ||||||
6 | issue bonds with an aggregate principal amount not to exceed | ||||||
7 | $32,200,000 and maturing over a period not exceeding 25 years, | ||||||
8 | but only if all of the following conditions are met: | ||||||
9 | (1) The voters of the district approve a proposition | ||||||
10 | for the bond issuance at an election held on or after | ||||||
11 | February 2, 2010. | ||||||
12 | (2) Prior to the issuance of the bonds, the school | ||||||
13 | board determines, by resolution, that (A) all or a portion | ||||||
14 | of the existing Okawville Junior/Senior High School | ||||||
15 | Building will be demolished; (B) the building and equipping | ||||||
16 | of a new school building to be attached to and the | ||||||
17 | alteration, repair, and equipping of the remaining portion | ||||||
18 | of the Okawville Junior/Senior High School Building is | ||||||
19 | required because of the age and current condition of that | ||||||
20 | school building; and (C) the issuance of bonds is | ||||||
21 | authorized by a statute that exempts the debt incurred on | ||||||
22 | the bonds from the district's statutory debt limitation. | ||||||
23 | (3) The bonds are issued, in one or more bond | ||||||
24 | issuances, on or before March 31, 2014, but the aggregate | ||||||
25 | principal amount issued in all such bond issuances combined | ||||||
26 | must not exceed $32,200,000. |
| |||||||
| |||||||
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 February 2, 2010. | ||||||
6 | The debt incurred on any bonds issued under this subsection | ||||||
7 | (p-65) shall not be considered indebtedness for purposes of any | ||||||
8 | statutory debt limitation. | ||||||
9 | (p-70) In addition to all other authority to issue bonds, | ||||||
10 | Cahokia Community Unit School District 187 may issue bonds with | ||||||
11 | an aggregate principal amount not to exceed $50,000,000, but | ||||||
12 | only if all the following conditions are met: | ||||||
13 | (1) The voters of the district approve a proposition | ||||||
14 | for the bond issuance at an election held on or after | ||||||
15 | November 2, 2010. | ||||||
16 | (2) Prior to the issuance of the bonds, the school | ||||||
17 | board determines, by resolution, that (i) the building and | ||||||
18 | equipping of a new school building is required as a result | ||||||
19 | of the age and condition of an existing school building and | ||||||
20 | (ii) the issuance of bonds is authorized by a statute that | ||||||
21 | exempts the debt incurred on the bonds from the district's | ||||||
22 | statutory debt limitation. | ||||||
23 | (3) The bonds are issued, in one or more issuances, on | ||||||
24 | or before July 1, 2016, but the aggregate principal amount | ||||||
25 | issued in all such bond issuances combined must not exceed | ||||||
26 | $50,000,000. |
| |||||||
| |||||||
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 2, 2010. | ||||||
6 | The debt incurred on any bonds issued under this subsection | ||||||
7 | (p-70) shall not be considered indebtedness for purposes of any | ||||||
8 | statutory debt limitation. Bonds issued under this subsection | ||||||
9 | (p-70) must mature within not to exceed 25 years from their | ||||||
10 | date, notwithstanding any other law, including Section 19-3 of | ||||||
11 | this Code, to the contrary. | ||||||
12 | (p-75) Notwithstanding the debt limitation prescribed in | ||||||
13 | subsection (a) of this Section
or any other provisions of this | ||||||
14 | Section or of any other law, the execution of leases on or
| ||||||
15 | after January 1, 2007 and before July 1, 2011 by the Board of | ||||||
16 | Education of Peoria School District 150 with a public building | ||||||
17 | commission for leases entered into pursuant to the Public
| ||||||
18 | Building Commission Act shall not be considered indebtedness | ||||||
19 | for purposes of any
statutory debt limitation. | ||||||
20 | This subsection (p-75) applies only if the State Board of | ||||||
21 | Education or the Capital Development Board makes one or more | ||||||
22 | grants to Peoria School District 150 pursuant to the School | ||||||
23 | Construction Law. The amount exempted from the debt limitation | ||||||
24 | as prescribed in this subsection (p-75) shall be no greater | ||||||
25 | than the amount of one or more grants awarded to Peoria School | ||||||
26 | District 150 by the State Board of Education or the Capital |
| |||||||
| |||||||
1 | Development Board. | ||||||
2 | (p-80) In addition to all other authority to issue bonds, | ||||||
3 | Ridgeland School District 122 may issue bonds with an aggregate | ||||||
4 | principal amount not to exceed $50,000,000 for the purpose of | ||||||
5 | refunding or continuing to refund bonds originally issued | ||||||
6 | pursuant to voter approval at the general election held on | ||||||
7 | November 7, 2000, and the debt incurred on any bonds issued | ||||||
8 | under this subsection (p-80) shall not be considered | ||||||
9 | indebtedness for purposes of any statutory debt limitation. | ||||||
10 | Bonds issued under this subsection (p-80) may be issued in one | ||||||
11 | or more issuances and must mature within not to exceed 25 years | ||||||
12 | from their date, notwithstanding any other law, including | ||||||
13 | Section 19-3 of this Code, to the contrary. | ||||||
14 | (p-85) In addition to all other authority to issue bonds, | ||||||
15 | Hall High School District 502 may issue bonds with an aggregate | ||||||
16 | principal amount not to exceed $32,000,000, but only if all the | ||||||
17 | 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 April | ||||||
20 | 9, 2013. | ||||||
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, | ||||||
25 | (ii) the existing school building should be demolished in | ||||||
26 | its entirety or the existing school building should be |
| |||||||
| |||||||
1 | demolished except for the 1914 west wing of the building, | ||||||
2 | and (iii) the issuance of bonds is authorized by a statute | ||||||
3 | that exempts the debt incurred on the bonds from the | ||||||
4 | district's statutory debt limitation. | ||||||
5 | (3) The bonds are issued, in one or more issuances, not | ||||||
6 | later than 5 years after the date of the referendum | ||||||
7 | approving the issuance of the bonds, but the aggregate | ||||||
8 | principal amount issued in all such bond issuances combined | ||||||
9 | must not exceed $32,000,000. | ||||||
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 9, 2013. | ||||||
15 | The debt incurred on any bonds issued under this subsection | ||||||
16 | (p-85) shall not be considered indebtedness for purposes of any | ||||||
17 | statutory debt limitation. Bonds issued under this subsection | ||||||
18 | (p-85) must mature within not to exceed 30 years from their | ||||||
19 | date, notwithstanding any other law, including Section 19-3 of | ||||||
20 | this Code, to the contrary. | ||||||
21 | (p-90) In addition to all other authority to issue bonds, | ||||||
22 | Lebanon Community Unit School District 9 may issue bonds with | ||||||
23 | an aggregate principal amount not to exceed $7,500,000, but | ||||||
24 | only if all of the following conditions are met: | ||||||
25 | (1) The voters of the district approved a proposition | ||||||
26 | for the bond issuance at the general primary election on |
| |||||||
| |||||||
1 | February 2, 2010. | ||||||
2 | (2) At or prior to the time of the sale of the bonds, | ||||||
3 | the school board determines, by resolution, that (i) the | ||||||
4 | building and equipping of a new elementary school building | ||||||
5 | is required as a result of a projected increase in the | ||||||
6 | enrollment of students in the district and the age and | ||||||
7 | condition of the existing Lebanon Elementary School | ||||||
8 | building, (ii) a portion of the existing Lebanon Elementary | ||||||
9 | School building will be demolished and the remaining | ||||||
10 | portion will be altered, repaired, and equipped, and (iii) | ||||||
11 | the sale of bonds is authorized by a statute that exempts | ||||||
12 | the debt incurred on the bonds from the district's | ||||||
13 | statutory debt limitation. | ||||||
14 | (3) The bonds are issued, in one or more bond | ||||||
15 | issuances, on or before April 1, 2014, but the aggregate | ||||||
16 | principal amount issued in all such bond issuances combined | ||||||
17 | must not exceed $7,500,000. | ||||||
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 general | ||||||
22 | primary election held on February 2, 2010. | ||||||
23 | The debt incurred on any bonds issued under this subsection | ||||||
24 | (p-90) shall not be considered indebtedness for purposes of any | ||||||
25 | statutory debt limitation. | ||||||
26 | (p-95) In addition to all other authority to issue bonds, |
| |||||||
| |||||||
1 | Monticello Community Unit School District 25 may issue bonds | ||||||
2 | with an aggregate principal amount not to exceed $35,000,000, | ||||||
3 | but only if all of the following conditions are met: | ||||||
4 | (1) The voters of the district approve a proposition | ||||||
5 | for the bond issuance at an election held on or after | ||||||
6 | November 4, 2014. | ||||||
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 as a result | ||||||
10 | of the age and condition of an existing school building and | ||||||
11 | (ii) the issuance of bonds is authorized by a statute that | ||||||
12 | exempts the debt incurred on the bonds from the district's | ||||||
13 | statutory debt limitation. | ||||||
14 | (3) The bonds are issued, in one or more issuances, on | ||||||
15 | or before July 1, 2020, but the aggregate principal amount | ||||||
16 | issued in all such bond issuances combined must not exceed | ||||||
17 | $35,000,000. | ||||||
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 November 4, 2014. | ||||||
23 | The debt incurred on any bonds issued under this subsection | ||||||
24 | (p-95) shall not be considered indebtedness for purposes of any | ||||||
25 | statutory debt limitation. Bonds issued under this subsection | ||||||
26 | (p-95) must mature within not to exceed 25 years from their |
| |||||||
| |||||||
1 | date, notwithstanding any other law, including Section 19-3 of | ||||||
2 | this Code, to the contrary. | ||||||
3 | (p-100) (p-95) In addition to all other authority to issue | ||||||
4 | bonds, the community unit school district created in the | ||||||
5 | territory comprising Milford Community Consolidated School | ||||||
6 | District 280 and Milford Township High School District 233, as | ||||||
7 | approved at the general primary election held on March 18, | ||||||
8 | 2014, may issue bonds with an aggregate principal amount not to | ||||||
9 | exceed $17,500,000, but only if all the following conditions | ||||||
10 | are met: | ||||||
11 | (1) The voters of the district approve a proposition | ||||||
12 | for the bond issuance at an election held on or after | ||||||
13 | November 4, 2014. | ||||||
14 | (2) Prior to the issuance of the bonds, the school | ||||||
15 | board determines, by resolution, that (i) the building and | ||||||
16 | equipping of a new school building is required as a result | ||||||
17 | of the age and condition of an existing school building and | ||||||
18 | (ii) the issuance of bonds is authorized by a statute that | ||||||
19 | exempts the debt incurred on the bonds from the district's | ||||||
20 | statutory debt limitation. | ||||||
21 | (3) The bonds are issued, in one or more issuances, on | ||||||
22 | or before July 1, 2020, but the aggregate principal amount | ||||||
23 | issued in all such bond issuances combined must not exceed | ||||||
24 | $17,500,000. | ||||||
25 | (4) The bonds are issued in accordance with this | ||||||
26 | Article. |
| |||||||
| |||||||
1 | (5) The proceeds of the bonds are used to accomplish | ||||||
2 | only those projects approved by the voters at an election | ||||||
3 | held on or after November 4, 2014. | ||||||
4 | The debt incurred on any bonds issued under this subsection | ||||||
5 | (p-100) (p-95) shall not be considered indebtedness for | ||||||
6 | purposes of any statutory debt limitation. Bonds issued under | ||||||
7 | this subsection (p-100) (p-95) must mature within not to exceed | ||||||
8 | 25 years from their date, notwithstanding any other law, | ||||||
9 | including Section 19-3 of this Code, to the contrary. | ||||||
10 | (p-105) In addition to all other authority to issue bonds, | ||||||
11 | Sandoval Community Unit School District 501 may issue bonds | ||||||
12 | with an aggregate principal amount not to exceed $2,000,000, | ||||||
13 | but only if all of the following conditions are met: | ||||||
14 | (1) The voters of the district approved a proposition | ||||||
15 | for the bond issuance at an election held on March 20, | ||||||
16 | 2012. | ||||||
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 because of | ||||||
20 | the age and current condition of the Sandoval Elementary | ||||||
21 | School building and (ii) the issuance of bonds is | ||||||
22 | authorized by a statute that exempts the debt incurred on | ||||||
23 | the bonds from the district's statutory debt limitation. | ||||||
24 | (3) The bonds are issued, in one or more bond | ||||||
25 | issuances, on or before March 19, 2017, but the aggregate | ||||||
26 | principal amount issued in all such bond issuances combined |
| |||||||
| |||||||
1 | must not exceed $2,000,000. | ||||||
2 | (4) The bonds are issued in accordance with this | ||||||
3 | Article. | ||||||
4 | (5) The proceeds of the bonds are used to accomplish | ||||||
5 | only those projects approved by the voters at the election | ||||||
6 | held on March 20, 2012. | ||||||
7 | The debt incurred on any bonds issued under this subsection | ||||||
8 | (p-105) shall not be considered indebtedness for purposes of | ||||||
9 | any statutory debt limitation. | ||||||
10 | (q) A school district must notify the State Board of | ||||||
11 | Education prior to issuing any form of long-term or short-term | ||||||
12 | debt that will result in outstanding debt that exceeds 75% of | ||||||
13 | the debt limit specified in this Section or any other provision | ||||||
14 | of law.
| ||||||
15 | (Source: P.A. 97-333, eff. 8-12-11; 97-834, eff. 7-20-12; | ||||||
16 | 97-1146, eff. 1-18-13; 98-617, eff. 1-7-14; 98-912, eff. | ||||||
17 | 8-15-14; 98-916, eff. 8-15-14; revised 10-1-14.)".
|