103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB2492

 

Introduced 2/15/2023, by Rep. Ann M. Williams

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/18-185
105 ILCS 5/19-1
105 ILCS 5/19b-5.5 new
105 ILCS 5/19b-6  from Ch. 122, par. 19b-6

     Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.


LRB103 26244 RJT 52604 b

 

 

A BILL FOR

 

HB2492LRB103 26244 RJT 52604 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 Property Tax Code is amended by changing
5Section 18-185 as follows:
 
6    (35 ILCS 200/18-185)
7    Sec. 18-185. Short title; definitions. This Division 5
8may be cited as the Property Tax Extension Limitation Law. As
9used in this Division 5:
10    "Consumer Price Index" means the Consumer Price Index for
11All Urban Consumers for all items published by the United
12States Department of Labor.
13    "Extension limitation" means (a) the lesser of 5% or the
14percentage increase in the Consumer Price Index during the
1512-month calendar year preceding the levy year or (b) the rate
16of increase approved by voters under Section 18-205.
17    "Affected county" means a county of 3,000,000 or more
18inhabitants or a county contiguous to a county of 3,000,000 or
19more inhabitants.
20    "Taxing district" has the same meaning provided in Section
211-150, except as otherwise provided in this Section. For the
221991 through 1994 levy years only, "taxing district" includes
23only each non-home rule taxing district having the majority of

 

 

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1its 1990 equalized assessed value within any county or
2counties contiguous to a county with 3,000,000 or more
3inhabitants. Beginning with the 1995 levy year, "taxing
4district" includes only each non-home rule taxing district
5subject to this Law before the 1995 levy year and each non-home
6rule taxing district not subject to this Law before the 1995
7levy year having the majority of its 1994 equalized assessed
8value in an affected county or counties. Beginning with the
9levy year in which this Law becomes applicable to a taxing
10district as provided in Section 18-213, "taxing district" also
11includes those taxing districts made subject to this Law as
12provided in Section 18-213.
13    "Aggregate extension" for taxing districts to which this
14Law applied before the 1995 levy year means the annual
15corporate extension for the taxing district and those special
16purpose extensions that are made annually for the taxing
17district, excluding special purpose extensions: (a) made for
18the taxing district to pay interest or principal on general
19obligation bonds that were approved by referendum; (b) made
20for any taxing district to pay interest or principal on
21general obligation bonds issued before October 1, 1991; (c)
22made for any taxing district to pay interest or principal on
23bonds issued to refund or continue to refund those bonds
24issued before October 1, 1991; (d) made for any taxing
25district to pay interest or principal on bonds issued to
26refund or continue to refund bonds issued after October 1,

 

 

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11991 that were approved by referendum; (e) made for any taxing
2district to pay interest or principal on revenue bonds issued
3before October 1, 1991 for payment of which a property tax levy
4or the full faith and credit of the unit of local government is
5pledged; however, a tax for the payment of interest or
6principal on those bonds shall be made only after the
7governing body of the unit of local government finds that all
8other sources for payment are insufficient to make those
9payments; (f) made for payments under a building commission
10lease when the lease payments are for the retirement of bonds
11issued by the commission before October 1, 1991, to pay for the
12building project; (g) made for payments due under installment
13contracts entered into before October 1, 1991; (h) made for
14payments of principal and interest on bonds issued under the
15Metropolitan Water Reclamation District Act to finance
16construction projects initiated before October 1, 1991; (i)
17made for payments of principal and interest on limited bonds,
18as defined in Section 3 of the Local Government Debt Reform
19Act, in an amount not to exceed the debt service extension base
20less the amount in items (b), (c), (e), and (h) of this
21definition for non-referendum obligations, except obligations
22initially issued pursuant to referendum; (j) made for payments
23of principal and interest on bonds issued under Section 15 of
24the Local Government Debt Reform Act; (k) made by a school
25district that participates in the Special Education District
26of Lake County, created by special education joint agreement

 

 

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1under Section 10-22.31 of the School Code, for payment of the
2school district's share of the amounts required to be
3contributed by the Special Education District of Lake County
4to the Illinois Municipal Retirement Fund under Article 7 of
5the Illinois Pension Code; the amount of any extension under
6this item (k) shall be certified by the school district to the
7county clerk; (l) made to fund expenses of providing joint
8recreational programs for persons with disabilities under
9Section 5-8 of the Park District Code or Section 11-95-14 of
10the Illinois Municipal Code; (m) made for temporary relocation
11loan repayment purposes pursuant to Sections 2-3.77 and
1217-2.2d of the School Code; (n) made for payment of principal
13and interest on any bonds issued under the authority of
14Section 17-2.2d of the School Code; (o) made for contributions
15to a firefighter's pension fund created under Article 4 of the
16Illinois Pension Code, to the extent of the amount certified
17under item (5) of Section 4-134 of the Illinois Pension Code;
18and (p) made for road purposes in the first year after a
19township assumes the rights, powers, duties, assets, property,
20liabilities, obligations, and responsibilities of a road
21district abolished under the provisions of Section 6-133 of
22the Illinois Highway Code; and (q) made for the repayment of
23bonds or certificates issued to finance guaranteed energy
24savings contracts under Article 19b of the School Code.
25    "Aggregate extension" for the taxing districts to which
26this Law did not apply before the 1995 levy year (except taxing

 

 

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1districts subject to this Law in accordance with Section
218-213) means the annual corporate extension for the taxing
3district and those special purpose extensions that are made
4annually for the taxing district, excluding special purpose
5extensions: (a) made for the taxing district to pay interest
6or principal on general obligation bonds that were approved by
7referendum; (b) made for any taxing district to pay interest
8or principal on general obligation bonds issued before March
91, 1995; (c) made for any taxing district to pay interest or
10principal on bonds issued to refund or continue to refund
11those bonds issued before March 1, 1995; (d) made for any
12taxing district to pay interest or principal on bonds issued
13to refund or continue to refund bonds issued after March 1,
141995 that were approved by referendum; (e) made for any taxing
15district to pay interest or principal on revenue bonds issued
16before March 1, 1995 for payment of which a property tax levy
17or the full faith and credit of the unit of local government is
18pledged; however, a tax for the payment of interest or
19principal on those bonds shall be made only after the
20governing body of the unit of local government finds that all
21other sources for payment are insufficient to make those
22payments; (f) made for payments under a building commission
23lease when the lease payments are for the retirement of bonds
24issued by the commission before March 1, 1995 to pay for the
25building project; (g) made for payments due under installment
26contracts entered into before March 1, 1995; (h) made for

 

 

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1payments of principal and interest on bonds issued under the
2Metropolitan Water Reclamation District Act to finance
3construction projects initiated before October 1, 1991; (h-4)
4made for stormwater management purposes by the Metropolitan
5Water Reclamation District of Greater Chicago under Section 12
6of the Metropolitan Water Reclamation District Act; (h-8) made
7for payments of principal and interest on bonds issued under
8Section 9.6a of the Metropolitan Water Reclamation District
9Act to make contributions to the pension fund established
10under Article 13 of the Illinois Pension Code; (i) made for
11payments of principal and interest on limited bonds, as
12defined in Section 3 of the Local Government Debt Reform Act,
13in an amount not to exceed the debt service extension base less
14the amount in items (b), (c), and (e) of this definition for
15non-referendum obligations, except obligations initially
16issued pursuant to referendum and bonds described in
17subsections (h) and (h-8) of this definition; (j) made for
18payments of principal and interest on bonds issued under
19Section 15 of the Local Government Debt Reform Act; (k) made
20for payments of principal and interest on bonds authorized by
21Public Act 88-503 and issued under Section 20a of the Chicago
22Park District Act for aquarium or museum projects and bonds
23issued under Section 20a of the Chicago Park District Act for
24the purpose of making contributions to the pension fund
25established under Article 12 of the Illinois Pension Code; (l)
26made for payments of principal and interest on bonds

 

 

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1authorized by Public Act 87-1191 or 93-601 and (i) issued
2pursuant to Section 21.2 of the Cook County Forest Preserve
3District Act, (ii) issued under Section 42 of the Cook County
4Forest Preserve District Act for zoological park projects, or
5(iii) issued under Section 44.1 of the Cook County Forest
6Preserve District Act for botanical gardens projects; (m) made
7pursuant to Section 34-53.5 of the School Code, whether levied
8annually or not; (n) made to fund expenses of providing joint
9recreational programs for persons with disabilities under
10Section 5-8 of the Park District Code or Section 11-95-14 of
11the Illinois Municipal Code; (o) made by the Chicago Park
12District for recreational programs for persons with
13disabilities under subsection (c) of Section 7.06 of the
14Chicago Park District Act; (p) made for contributions to a
15firefighter's pension fund created under Article 4 of the
16Illinois Pension Code, to the extent of the amount certified
17under item (5) of Section 4-134 of the Illinois Pension Code;
18(q) made by Ford Heights School District 169 under Section
1917-9.02 of the School Code; and (r) made for the purpose of
20making employer contributions to the Public School Teachers'
21Pension and Retirement Fund of Chicago under Section 34-53 of
22the School Code; and (s) made for the repayment of bonds or
23certificates issued to finance guaranteed energy savings
24contracts under Article 19b of the School Code.
25    "Aggregate extension" for all taxing districts to which
26this Law applies in accordance with Section 18-213, except for

 

 

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1those taxing districts subject to paragraph (2) of subsection
2(e) of Section 18-213, means the annual corporate extension
3for the taxing district and those special purpose extensions
4that are made annually for the taxing district, excluding
5special purpose extensions: (a) made for the taxing district
6to pay interest or principal on general obligation bonds that
7were approved by referendum; (b) made for any taxing district
8to pay interest or principal on general obligation bonds
9issued before the date on which the referendum making this Law
10applicable to the taxing district is held; (c) made for any
11taxing district to pay interest or principal on bonds issued
12to refund or continue to refund those bonds issued before the
13date on which the referendum making this Law applicable to the
14taxing district is held; (d) made for any taxing district to
15pay interest or principal on bonds issued to refund or
16continue to refund bonds issued after the date on which the
17referendum making this Law applicable to the taxing district
18is held if the bonds were approved by referendum after the date
19on which the referendum making this Law applicable to the
20taxing district is held; (e) made for any taxing district to
21pay interest or principal on revenue bonds issued before the
22date on which the referendum making this Law applicable to the
23taxing district is held for payment of which a property tax
24levy or the full faith and credit of the unit of local
25government is pledged; however, a tax for the payment of
26interest or principal on those bonds shall be made only after

 

 

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1the governing body of the unit of local government finds that
2all other sources for payment are insufficient to make those
3payments; (f) made for payments under a building commission
4lease when the lease payments are for the retirement of bonds
5issued by the commission before the date on which the
6referendum making this Law applicable to the taxing district
7is held to pay for the building project; (g) made for payments
8due under installment contracts entered into before the date
9on which the referendum making this Law applicable to the
10taxing district is held; (h) made for payments of principal
11and interest on limited bonds, as defined in Section 3 of the
12Local Government Debt Reform Act, in an amount not to exceed
13the debt service extension base less the amount in items (b),
14(c), and (e) of this definition for non-referendum
15obligations, except obligations initially issued pursuant to
16referendum; (i) made for payments of principal and interest on
17bonds issued under Section 15 of the Local Government Debt
18Reform Act; (j) made for a qualified airport authority to pay
19interest or principal on general obligation bonds issued for
20the purpose of paying obligations due under, or financing
21airport facilities required to be acquired, constructed,
22installed or equipped pursuant to, contracts entered into
23before March 1, 1996 (but not including any amendments to such
24a contract taking effect on or after that date); (k) made to
25fund expenses of providing joint recreational programs for
26persons with disabilities under Section 5-8 of the Park

 

 

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1District Code or Section 11-95-14 of the Illinois Municipal
2Code; (l) made for contributions to a firefighter's pension
3fund created under Article 4 of the Illinois Pension Code, to
4the extent of the amount certified under item (5) of Section
54-134 of the Illinois Pension Code; and (m) made for the taxing
6district to pay interest or principal on general obligation
7bonds issued pursuant to Section 19-3.10 of the School Code;
8and (n) made for the repayment of bonds or certificates issued
9to finance guaranteed energy savings contracts under Article
1019b of the School Code.
11    "Aggregate extension" for all taxing districts to which
12this Law applies in accordance with paragraph (2) of
13subsection (e) of Section 18-213 means the annual corporate
14extension for the taxing district and those special purpose
15extensions that are made annually for the taxing district,
16excluding special purpose extensions: (a) made for the taxing
17district to pay interest or principal on general obligation
18bonds that were approved by referendum; (b) made for any
19taxing district to pay interest or principal on general
20obligation bonds issued before March 7, 1997 (the effective
21date of Public Act 89-718); (c) made for any taxing district to
22pay interest or principal on bonds issued to refund or
23continue to refund those bonds issued before March 7, 1997
24(the effective date of Public Act 89-718); (d) made for any
25taxing district to pay interest or principal on bonds issued
26to refund or continue to refund bonds issued after March 7,

 

 

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11997 (the effective date of Public Act 89-718) if the bonds
2were approved by referendum after March 7, 1997 (the effective
3date of Public Act 89-718); (e) made for any taxing district to
4pay interest or principal on revenue bonds issued before March
57, 1997 (the effective date of Public Act 89-718) for payment
6of which a property tax levy or the full faith and credit of
7the unit of local government is pledged; however, a tax for the
8payment of interest or principal on those bonds shall be made
9only after the governing body of the unit of local government
10finds that all other sources for payment are insufficient to
11make those payments; (f) made for payments under a building
12commission lease when the lease payments are for the
13retirement of bonds issued by the commission before March 7,
141997 (the effective date of Public Act 89-718) to pay for the
15building project; (g) made for payments due under installment
16contracts entered into before March 7, 1997 (the effective
17date of Public Act 89-718); (h) made for payments of principal
18and interest on limited bonds, as defined in Section 3 of the
19Local Government Debt Reform Act, in an amount not to exceed
20the debt service extension base less the amount in items (b),
21(c), and (e) of this definition for non-referendum
22obligations, except obligations initially issued pursuant to
23referendum; (i) made for payments of principal and interest on
24bonds issued under Section 15 of the Local Government Debt
25Reform Act; (j) made for a qualified airport authority to pay
26interest or principal on general obligation bonds issued for

 

 

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1the purpose of paying obligations due under, or financing
2airport facilities required to be acquired, constructed,
3installed or equipped pursuant to, contracts entered into
4before March 1, 1996 (but not including any amendments to such
5a contract taking effect on or after that date); (k) made to
6fund expenses of providing joint recreational programs for
7persons with disabilities under Section 5-8 of the Park
8District Code or Section 11-95-14 of the Illinois Municipal
9Code; and (l) made for contributions to a firefighter's
10pension fund created under Article 4 of the Illinois Pension
11Code, to the extent of the amount certified under item (5) of
12Section 4-134 of the Illinois Pension Code; and (m) made for
13the repayment of bonds or certificates issued to finance
14guaranteed energy savings contracts under Article 19b of the
15School Code.
16    "Debt service extension base" means an amount equal to
17that portion of the extension for a taxing district for the
181994 levy year, or for those taxing districts subject to this
19Law in accordance with Section 18-213, except for those
20subject to paragraph (2) of subsection (e) of Section 18-213,
21for the levy year in which the referendum making this Law
22applicable to the taxing district is held, or for those taxing
23districts subject to this Law in accordance with paragraph (2)
24of subsection (e) of Section 18-213 for the 1996 levy year,
25constituting an extension for payment of principal and
26interest on bonds issued by the taxing district without

 

 

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1referendum, but not including excluded non-referendum bonds.
2For park districts (i) that were first subject to this Law in
31991 or 1995 and (ii) whose extension for the 1994 levy year
4for the payment of principal and interest on bonds issued by
5the park district without referendum (but not including
6excluded non-referendum bonds) was less than 51% of the amount
7for the 1991 levy year constituting an extension for payment
8of principal and interest on bonds issued by the park district
9without referendum (but not including excluded non-referendum
10bonds), "debt service extension base" means an amount equal to
11that portion of the extension for the 1991 levy year
12constituting an extension for payment of principal and
13interest on bonds issued by the park district without
14referendum (but not including excluded non-referendum bonds).
15A debt service extension base established or increased at any
16time pursuant to any provision of this Law, except Section
1718-212, shall be increased each year commencing with the later
18of (i) the 2009 levy year or (ii) the first levy year in which
19this Law becomes applicable to the taxing district, by the
20lesser of 5% or the percentage increase in the Consumer Price
21Index during the 12-month calendar year preceding the levy
22year. The debt service extension base may be established or
23increased as provided under Section 18-212. "Excluded
24non-referendum bonds" means (i) bonds authorized by Public Act
2588-503 and issued under Section 20a of the Chicago Park
26District Act for aquarium and museum projects; (ii) bonds

 

 

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1issued under Section 15 of the Local Government Debt Reform
2Act; or (iii) refunding obligations issued to refund or to
3continue to refund obligations initially issued pursuant to
4referendum.
5    "Special purpose extensions" include, but are not limited
6to, extensions for levies made on an annual basis for
7unemployment and workers' compensation, self-insurance,
8contributions to pension plans, and extensions made pursuant
9to Section 6-601 of the Illinois Highway Code for a road
10district's permanent road fund whether levied annually or not.
11The extension for a special service area is not included in the
12aggregate extension.
13    "Aggregate extension base" means the taxing district's
14last preceding aggregate extension as adjusted under Sections
1518-135, 18-215, 18-230, 18-206, and 18-233. Beginning with
16levy year 2022, for taxing districts that are specified in
17Section 18-190.7, the taxing district's aggregate extension
18base shall be calculated as provided in Section 18-190.7. An
19adjustment under Section 18-135 shall be made for the 2007
20levy year and all subsequent levy years whenever one or more
21counties within which a taxing district is located (i) used
22estimated valuations or rates when extending taxes in the
23taxing district for the last preceding levy year that resulted
24in the over or under extension of taxes, or (ii) increased or
25decreased the tax extension for the last preceding levy year
26as required by Section 18-135(c). Whenever an adjustment is

 

 

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1required under Section 18-135, the aggregate extension base of
2the taxing district shall be equal to the amount that the
3aggregate extension of the taxing district would have been for
4the last preceding levy year if either or both (i) actual,
5rather than estimated, valuations or rates had been used to
6calculate the extension of taxes for the last levy year, or
7(ii) the tax extension for the last preceding levy year had not
8been adjusted as required by subsection (c) of Section 18-135.
9    Notwithstanding any other provision of law, for levy year
102012, the aggregate extension base for West Northfield School
11District No. 31 in Cook County shall be $12,654,592.
12    Notwithstanding any other provision of law, for levy year
132022, the aggregate extension base of a home equity assurance
14program that levied at least $1,000,000 in property taxes in
15levy year 2019 or 2020 under the Home Equity Assurance Act
16shall be the amount that the program's aggregate extension
17base for levy year 2021 would have been if the program had
18levied a property tax for levy year 2021.
19    "Levy year" has the same meaning as "year" under Section
201-155.
21    "New property" means (i) the assessed value, after final
22board of review or board of appeals action, of new
23improvements or additions to existing improvements on any
24parcel of real property that increase the assessed value of
25that real property during the levy year multiplied by the
26equalization factor issued by the Department under Section

 

 

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117-30, (ii) the assessed value, after final board of review or
2board of appeals action, of real property not exempt from real
3estate taxation, which real property was exempt from real
4estate taxation for any portion of the immediately preceding
5levy year, multiplied by the equalization factor issued by the
6Department under Section 17-30, including the assessed value,
7upon final stabilization of occupancy after new construction
8is complete, of any real property located within the
9boundaries of an otherwise or previously exempt military
10reservation that is intended for residential use and owned by
11or leased to a private corporation or other entity, (iii) in
12counties that classify in accordance with Section 4 of Article
13IX of the Illinois Constitution, an incentive property's
14additional assessed value resulting from a scheduled increase
15in the level of assessment as applied to the first year final
16board of review market value, and (iv) any increase in
17assessed value due to oil or gas production from an oil or gas
18well required to be permitted under the Hydraulic Fracturing
19Regulatory Act that was not produced in or accounted for
20during the previous levy year. In addition, the county clerk
21in a county containing a population of 3,000,000 or more shall
22include in the 1997 recovered tax increment value for any
23school district, any recovered tax increment value that was
24applicable to the 1995 tax year calculations.
25    "Qualified airport authority" means an airport authority
26organized under the Airport Authorities Act and located in a

 

 

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1county bordering on the State of Wisconsin and having a
2population in excess of 200,000 and not greater than 500,000.
3    "Recovered tax increment value" means, except as otherwise
4provided in this paragraph, the amount of the current year's
5equalized assessed value, in the first year after a
6municipality terminates the designation of an area as a
7redevelopment project area previously established under the
8Tax Increment Allocation Redevelopment Act in the Illinois
9Municipal Code, previously established under the Industrial
10Jobs Recovery Law in the Illinois Municipal Code, previously
11established under the Economic Development Project Area Tax
12Increment Act of 1995, or previously established under the
13Economic Development Area Tax Increment Allocation Act, of
14each taxable lot, block, tract, or parcel of real property in
15the redevelopment project area over and above the initial
16equalized assessed value of each property in the redevelopment
17project area. For the taxes which are extended for the 1997
18levy year, the recovered tax increment value for a non-home
19rule taxing district that first became subject to this Law for
20the 1995 levy year because a majority of its 1994 equalized
21assessed value was in an affected county or counties shall be
22increased if a municipality terminated the designation of an
23area in 1993 as a redevelopment project area previously
24established under the Tax Increment Allocation Redevelopment
25Act in the Illinois Municipal Code, previously established
26under the Industrial Jobs Recovery Law in the Illinois

 

 

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1Municipal Code, or previously established under the Economic
2Development Area Tax Increment Allocation Act, by an amount
3equal to the 1994 equalized assessed value of each taxable
4lot, block, tract, or parcel of real property in the
5redevelopment project area over and above the initial
6equalized assessed value of each property in the redevelopment
7project area. In the first year after a municipality removes a
8taxable lot, block, tract, or parcel of real property from a
9redevelopment project area established under the Tax Increment
10Allocation Redevelopment Act in the Illinois Municipal Code,
11the Industrial Jobs Recovery Law in the Illinois Municipal
12Code, or the Economic Development Area Tax Increment
13Allocation Act, "recovered tax increment value" means the
14amount of the current year's equalized assessed value of each
15taxable lot, block, tract, or parcel of real property removed
16from the redevelopment project area over and above the initial
17equalized assessed value of that real property before removal
18from the redevelopment project area.
19    Except as otherwise provided in this Section, "limiting
20rate" means a fraction the numerator of which is the last
21preceding aggregate extension base times an amount equal to
22one plus the extension limitation defined in this Section and
23the denominator of which is the current year's equalized
24assessed value of all real property in the territory under the
25jurisdiction of the taxing district during the prior levy
26year. For those taxing districts that reduced their aggregate

 

 

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1extension for the last preceding levy year, except for school
2districts that reduced their extension for educational
3purposes pursuant to Section 18-206, the highest aggregate
4extension in any of the last 3 preceding levy years shall be
5used for the purpose of computing the limiting rate. The
6denominator shall not include new property or the recovered
7tax increment value. If a new rate, a rate decrease, or a
8limiting rate increase has been approved at an election held
9after March 21, 2006, then (i) the otherwise applicable
10limiting rate shall be increased by the amount of the new rate
11or shall be reduced by the amount of the rate decrease, as the
12case may be, or (ii) in the case of a limiting rate increase,
13the limiting rate shall be equal to the rate set forth in the
14proposition approved by the voters for each of the years
15specified in the proposition, after which the limiting rate of
16the taxing district shall be calculated as otherwise provided.
17In the case of a taxing district that obtained referendum
18approval for an increased limiting rate on March 20, 2012, the
19limiting rate for tax year 2012 shall be the rate that
20generates the approximate total amount of taxes extendable for
21that tax year, as set forth in the proposition approved by the
22voters; this rate shall be the final rate applied by the county
23clerk for the aggregate of all capped funds of the district for
24tax year 2012.
25(Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21;
26102-519, eff. 8-20-21; 102-558, eff. 8-20-21; 102-707, eff.

 

 

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14-22-22; 102-813, eff. 5-13-22; 102-895, eff. 5-23-22; revised
28-29-22.)
 
3    Section 10. The School Code is amended by changing
4Sections 19-1 and 19b-6 and by adding Section 19b-5.5 as
5follows:
 
6    (105 ILCS 5/19-1)
7    Sec. 19-1. Debt limitations of school districts.
8    (a) School districts shall not be subject to the
9provisions limiting their indebtedness prescribed in the Local
10Government Debt Limitation Act.
11    No school districts maintaining grades K through 8 or 9
12through 12 shall become indebted in any manner or for any
13purpose to an amount, including existing indebtedness, in the
14aggregate exceeding 6.9% on the value of the taxable property
15therein to be ascertained by the last assessment for State and
16county taxes or, until January 1, 1983, if greater, the sum
17that is produced by multiplying the school district's 1978
18equalized assessed valuation by the debt limitation percentage
19in effect on January 1, 1979, previous to the incurring of such
20indebtedness.
21    No school districts maintaining grades K through 12 shall
22become indebted in any manner or for any purpose to an amount,
23including existing indebtedness, in the aggregate exceeding
2413.8% on the value of the taxable property therein to be

 

 

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1ascertained by the last assessment for State and county taxes
2or, until January 1, 1983, if greater, the sum that is produced
3by multiplying the school district's 1978 equalized assessed
4valuation by the debt limitation percentage in effect on
5January 1, 1979, previous to the incurring of such
6indebtedness.
7    No partial elementary unit district, as defined in Article
811E of this Code, shall become indebted in any manner or for
9any purpose in an amount, including existing indebtedness, in
10the aggregate exceeding 6.9% of the value of the taxable
11property of the entire district, to be ascertained by the last
12assessment for State and county taxes, plus an amount,
13including existing indebtedness, in the aggregate exceeding
146.9% of the value of the taxable property of that portion of
15the district included in the elementary and high school
16classification, to be ascertained by the last assessment for
17State and county taxes. Moreover, no partial elementary unit
18district, as defined in Article 11E of this Code, shall become
19indebted on account of bonds issued by the district for high
20school purposes in the aggregate exceeding 6.9% of the value
21of the taxable property of the entire district, to be
22ascertained by the last assessment for State and county taxes,
23nor shall the district become indebted on account of bonds
24issued by the district for elementary purposes in the
25aggregate exceeding 6.9% of the value of the taxable property
26for that portion of the district included in the elementary

 

 

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1and high school classification, to be ascertained by the last
2assessment for State and county taxes.
3    Notwithstanding the provisions of any other law to the
4contrary, in any case in which the voters of a school district
5have approved a proposition for the issuance of bonds of such
6school district at an election held prior to January 1, 1979,
7and all of the bonds approved at such election have not been
8issued, the debt limitation applicable to such school district
9during the calendar year 1979 shall be computed by multiplying
10the value of taxable property therein, including personal
11property, as ascertained by the last assessment for State and
12county taxes, previous to the incurring of such indebtedness,
13by the percentage limitation applicable to such school
14district under the provisions of this subsection (a).
15    (a-5) After January 1, 2018, no school district may issue
16bonds under Sections 19-2 through 19-7 of this Code and rely on
17an exception to the debt limitations in this Section unless it
18has complied with the requirements of Section 21 of the Bond
19Issue Notification Act and the bonds have been approved by
20referendum.
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
21    purpose. Notice of such an election shall state that the
22    amount of indebtedness proposed to be incurred would
23    exceed the debt limitation otherwise applicable to the
24    school district. The ballot for such proposition shall
25    state what percentage of the equalized assessed valuation
26    will be outstanding in bonds if the proposed issuance of

 

 

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1    bonds is approved by the 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
6    2/3 of those voting in an election called by the school
7    board on the question approve the issuance of bonds for
8    the construction of such facilities, the school district
9    may 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
13    of paragraph (4) of this subsection (b) to enable it to
14    issue bonds, (ii) the voters of the school district have
15    not defeated a proposition for the issuance of bonds since
16    the referendum described in paragraph (4) of this
17    subsection (b) was held, (iii) the school board determines
18    that additional facilities are needed to provide a quality
19    educational program, and (iv) a majority of those voting
20    in 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
26school district exceed 15% of the value of the taxable

 

 

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1property therein to be ascertained by the last assessment for
2State and county taxes, previous to the incurring of such
3indebtedness or, until January 1, 1983, if greater, the sum
4that is produced by multiplying the school district's 1978
5equalized assessed valuation by the debt limitation percentage
6in effect on January 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
26indebtedness of the district existing immediately prior to the

 

 

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1district incurring the additional indebtedness authorized by
2this subsection (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
16    provided in paragraph (1) above are issued for the
17    purposes of construction by the school district of a new
18    school 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
24    for the purpose of increasing the size of, or providing
25    for 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)
12of this subsection shall not be considered indebtedness for
13purposes of any statutory limitation and may be issued
14pursuant to resolution of the school board in an amount or
15amounts, including existing indebtedness, in excess of any
16statutory limitation of indebtedness heretofore or hereafter
17imposed:
18        (i) The bonds are issued for the purpose of
19    constructing a new high school building to replace two
20    adjacent existing buildings which together house a single
21    high school, each of which is more than 65 years old, and
22    which together are located on more than 10 acres and less
23    than 11 acres of property.
24        (ii) At the time the resolution authorizing the
25    issuance of the bonds is adopted, the cost of constructing
26    a new school building to replace the existing school

 

 

HB2492- 29 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 30 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 31 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 32 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 33 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 34 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 35 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 36 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 37 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 38 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 39 -LRB103 26244 RJT 52604 b

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

 

 

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

 

 

HB2492- 41 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 42 -LRB103 26244 RJT 52604 b

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

 

 

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

 

 

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

 

 

HB2492- 45 -LRB103 26244 RJT 52604 b

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

 

 

HB2492- 46 -LRB103 26244 RJT 52604 b

1        (1) The voters of the district approve a proposition
2    for the bond issuance at a regular election held on or
3    after November 4, 2008.
4        (2) At the time of the sale of the bonds, the school
5    board determines, by resolution, that (i) the building and
6    equipping of a new high school building is required as a
7    result of a projected increase in the enrollment of
8    students in the district and the age and condition of the
9    existing high school building, (ii) the existing high
10    school building will be demolished, and (iii) the sale of
11    bonds is authorized by statute that exempts the debt
12    incurred on the bonds from the district's statutory debt
13    limitation.
14        (3) The bonds are issued, in one or more bond
15    issuances, on or before December 31, 2011, but the
16    aggregate principal amount issued in all such bond
17    issuances combined must not exceed $55,000,000.
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 a regular
22    election held on or after November 4, 2008.
23    The debt incurred on any bonds issued under this
24subsection (p-40) shall not be considered indebtedness for
25purposes of any statutory debt limitation.
26    (p-45) Notwithstanding the provisions of subsection (a) of

 

 

HB2492- 47 -LRB103 26244 RJT 52604 b

1this Section or of any other law, bonds issued pursuant to
2Section 19-3.5 of this Code shall not be considered
3indebtedness for purposes of any statutory limitation if the
4bonds are issued in an amount or amounts, including existing
5indebtedness of the school district, not in excess of 18.5% of
6the value of the taxable property in the district to be
7ascertained by the last assessment for State and county taxes.
8    (p-50) Notwithstanding the provisions of subsection (a) of
9this Section or of any other law, bonds issued pursuant to
10Section 19-3.10 of this Code shall not be considered
11indebtedness for purposes of any statutory limitation if the
12bonds are issued in an amount or amounts, including existing
13indebtedness of the school district, not in excess of 43% of
14the value of the taxable property in the district to be
15ascertained by the last assessment for State and county taxes.
16    (p-55) In addition to all other authority to issue bonds,
17Belle Valley School District 119 may issue bonds with an
18aggregate principal amount not to exceed $47,500,000, but only
19if all of the following conditions are met:
20        (1) The voters of the district approve a proposition
21    for the bond issuance at an election held on or after April
22    7, 2009.
23        (2) Prior to the issuance of the bonds, the school
24    board determines, by resolution, that (i) the building and
25    equipping of a new school building is required as a result
26    of mine subsidence in an existing school building and

 

 

HB2492- 48 -LRB103 26244 RJT 52604 b

1    because of the age and condition of another existing
2    school building and (ii) the issuance of bonds is
3    authorized by 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
8    combined must not exceed $47,500,000.
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 April 7, 2009.
14    The debt incurred on any bonds issued under this
15subsection (p-55) shall not be considered indebtedness for
16purposes of any statutory debt limitation. Bonds issued under
17this subsection (p-55) must mature within not to exceed 30
18years from their date, notwithstanding any other law to the
19contrary.
20    (p-60) In addition to all other authority to issue bonds,
21Wilmington Community Unit School District Number 209-U may
22issue bonds with an aggregate principal amount not to exceed
23$2,285,000, but only if all of the following conditions are
24met:
25        (1) The proceeds of the bonds are used to accomplish
26    only those projects approved by the voters at the general

 

 

HB2492- 49 -LRB103 26244 RJT 52604 b

1    primary election held on March 21, 2006.
2        (2) Prior to the issuance of the bonds, the school
3    board determines, by resolution, that (i) the projects
4    approved by the voters were and are required because of
5    the age and condition of the school district's prior and
6    existing school buildings and (ii) the issuance of the
7    bonds is authorized by legislation that exempts the debt
8    incurred on the bonds from the district's statutory debt
9    limitation.
10        (3) The bonds are issued in one or more bond issuances
11    on or before March 1, 2011, but the aggregate principal
12    amount issued in all those bond issuances combined must
13    not exceed $2,285,000.
14        (4) The bonds are issued in accordance with this
15    Article.
16    The debt incurred on any bonds issued under this
17subsection (p-60) shall not be considered indebtedness for
18purposes of any statutory debt limitation.
19    (p-65) In addition to all other authority to issue bonds,
20West Washington County Community Unit School District 10 may
21issue bonds with an aggregate principal amount not to exceed
22$32,200,000 and maturing over a period not exceeding 25 years,
23but only if all of the following conditions are met:
24        (1) The voters of the district approve a proposition
25    for the bond issuance at an election held on or after
26    February 2, 2010.

 

 

HB2492- 50 -LRB103 26244 RJT 52604 b

1        (2) Prior to the issuance of the bonds, the school
2    board determines, by resolution, that (A) all or a portion
3    of the existing Okawville Junior/Senior High School
4    Building will be demolished; (B) the building and
5    equipping of a new school building to be attached to and
6    the alteration, repair, and equipping of the remaining
7    portion of the Okawville Junior/Senior High School
8    Building is required because of the age and current
9    condition of that school building; and (C) the issuance of
10    bonds is authorized by a statute that exempts the debt
11    incurred on the bonds from the district's statutory debt
12    limitation.
13        (3) The bonds are issued, in one or more bond
14    issuances, on or before March 31, 2014, but the aggregate
15    principal amount issued in all such bond issuances
16    combined must not exceed $32,200,000.
17        (4) The bonds are issued in accordance with this
18    Article.
19        (5) The proceeds of the bonds are used to accomplish
20    only those projects approved by the voters at an election
21    held on or after February 2, 2010.
22    The debt incurred on any bonds issued under this
23subsection (p-65) shall not be considered indebtedness for
24purposes of any statutory debt limitation.
25    (p-70) In addition to all other authority to issue bonds,
26Cahokia Community Unit School District 187 may issue bonds

 

 

HB2492- 51 -LRB103 26244 RJT 52604 b

1with an aggregate principal amount not to exceed $50,000,000,
2but only if all the following conditions are met:
3        (1) The voters of the district approve a proposition
4    for the bond issuance at an election held on or after
5    November 2, 2010.
6        (2) Prior to the issuance of the bonds, the school
7    board determines, by resolution, that (i) the building and
8    equipping of a new school building is required as a result
9    of the age and condition of an existing school building
10    and (ii) 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, on
14    or before July 1, 2016, but the aggregate principal amount
15    issued in all such bond issuances combined must not exceed
16    $50,000,000.
17        (4) The bonds are issued in accordance with this
18    Article.
19        (5) The proceeds of the bonds are used to accomplish
20    only those projects approved by the voters at an election
21    held on or after November 2, 2010.
22    The debt incurred on any bonds issued under this
23subsection (p-70) shall not be considered indebtedness for
24purposes of any statutory debt limitation. Bonds issued under
25this subsection (p-70) must mature within not to exceed 25
26years from their date, notwithstanding any other law,

 

 

HB2492- 52 -LRB103 26244 RJT 52604 b

1including Section 19-3 of this Code, to the contrary.
2    (p-75) Notwithstanding the debt limitation prescribed in
3subsection (a) of this Section or any other provisions of this
4Section or of any other law, the execution of leases on or
5after January 1, 2007 and before July 1, 2011 by the Board of
6Education of Peoria School District 150 with a public building
7commission for leases entered into pursuant to the Public
8Building Commission Act shall not be considered indebtedness
9for purposes of any statutory debt limitation.
10    This subsection (p-75) applies only if the State Board of
11Education or the Capital Development Board makes one or more
12grants to Peoria School District 150 pursuant to the School
13Construction Law. The amount exempted from the debt limitation
14as prescribed in this subsection (p-75) shall be no greater
15than the amount of one or more grants awarded to Peoria School
16District 150 by the State Board of Education or the Capital
17Development Board.
18    (p-80) In addition to all other authority to issue bonds,
19Ridgeland School District 122 may issue bonds with an
20aggregate principal amount not to exceed $50,000,000 for the
21purpose of refunding or continuing to refund bonds originally
22issued pursuant to voter approval at the general election held
23on November 7, 2000, and the debt incurred on any bonds issued
24under this subsection (p-80) shall not be considered
25indebtedness for purposes of any statutory debt limitation.
26Bonds issued under this subsection (p-80) may be issued in one

 

 

HB2492- 53 -LRB103 26244 RJT 52604 b

1or more issuances and must mature within not to exceed 25 years
2from their date, notwithstanding any other law, including
3Section 19-3 of this Code, to the contrary.
4    (p-85) In addition to all other authority to issue bonds,
5Hall High School District 502 may issue bonds with an
6aggregate principal amount not to exceed $32,000,000, but only
7if all the following conditions are met:
8        (1) The voters of the district approve a proposition
9    for the bond issuance at an election held on or after April
10    9, 2013.
11        (2) Prior to the issuance of the bonds, the school
12    board determines, by resolution, that (i) the building and
13    equipping of a new school building is required as a result
14    of the age and condition of an existing school building,
15    (ii) the existing school building should be demolished in
16    its entirety or the existing school building should be
17    demolished except for the 1914 west wing of the building,
18    and (iii) the issuance of bonds is authorized by a statute
19    that exempts the debt incurred on the bonds from the
20    district's statutory debt limitation.
21        (3) The bonds are issued, in one or more issuances,
22    not later than 5 years after the date of the referendum
23    approving the issuance of the bonds, but the aggregate
24    principal amount issued in all such bond issuances
25    combined must not exceed $32,000,000.
26        (4) The bonds are issued in accordance with this

 

 

HB2492- 54 -LRB103 26244 RJT 52604 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 April 9, 2013.
5    The debt incurred on any bonds issued under this
6subsection (p-85) shall not be considered indebtedness for
7purposes of any statutory debt limitation. Bonds issued under
8this subsection (p-85) must mature within not to exceed 30
9years from their date, notwithstanding any other law,
10including Section 19-3 of this Code, to the contrary.
11    (p-90) In addition to all other authority to issue bonds,
12Lebanon Community Unit School District 9 may issue bonds with
13an aggregate principal amount not to exceed $7,500,000, but
14only if all of the following conditions are met:
15        (1) The voters of the district approved a proposition
16    for the bond issuance at the general primary election on
17    February 2, 2010.
18        (2) At or prior to the time of the sale of the bonds,
19    the school board determines, by resolution, that (i) the
20    building and equipping of a new elementary school building
21    is required as a result of a projected increase in the
22    enrollment of students in the district and the age and
23    condition of the existing Lebanon Elementary School
24    building, (ii) a portion of the existing Lebanon
25    Elementary School building will be demolished and the
26    remaining portion will be altered, repaired, and equipped,

 

 

HB2492- 55 -LRB103 26244 RJT 52604 b

1    and (iii) the sale of bonds is authorized by a statute that
2    exempts the debt incurred on the bonds from the district's
3    statutory debt limitation.
4        (3) The bonds are issued, in one or more bond
5    issuances, on or before April 1, 2014, but the aggregate
6    principal amount issued in all such bond issuances
7    combined must not exceed $7,500,000.
8        (4) The bonds are issued in accordance with this
9    Article.
10        (5) 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 February 2, 2010.
13    The debt incurred on any bonds issued under this
14subsection (p-90) shall not be considered indebtedness for
15purposes of any statutory debt limitation.
16    (p-95) In addition to all other authority to issue bonds,
17Monticello Community Unit School District 25 may issue bonds
18with an aggregate principal amount not to exceed $35,000,000,
19but only if all of the following conditions are met:
20        (1) The voters of the district approve a proposition
21    for the bond issuance at an election held on or after
22    November 4, 2014.
23        (2) Prior to the issuance of the bonds, the school
24    board determines, by resolution, that (i) the building and
25    equipping of a new school building is required as a result
26    of the age and condition of an existing school building

 

 

HB2492- 56 -LRB103 26244 RJT 52604 b

1    and (ii) the issuance of bonds is authorized by a statute
2    that exempts the debt incurred on the bonds from the
3    district's statutory debt limitation.
4        (3) The bonds are issued, in one or more issuances, on
5    or before July 1, 2020, but the aggregate principal amount
6    issued in all such bond issuances combined must not exceed
7    $35,000,000.
8        (4) The bonds are issued in accordance with this
9    Article.
10        (5) The proceeds of the bonds are used to accomplish
11    only those projects approved by the voters at an election
12    held on or after November 4, 2014.
13    The debt incurred on any bonds issued under this
14subsection (p-95) shall not be considered indebtedness for
15purposes of any statutory debt limitation. Bonds issued under
16this subsection (p-95) must mature within not to exceed 25
17years from their date, notwithstanding any other law,
18including Section 19-3 of this Code, to the contrary.
19    (p-100) In addition to all other authority to issue bonds,
20the community unit school district created in the territory
21comprising Milford Community Consolidated School District 280
22and Milford Township High School District 233, as approved at
23the general primary election held on March 18, 2014, may issue
24bonds with an aggregate principal amount not to exceed
25$17,500,000, but only if all the following conditions are met:
26        (1) The voters of the district approve a proposition

 

 

HB2492- 57 -LRB103 26244 RJT 52604 b

1    for the bond issuance at an election held on or after
2    November 4, 2014.
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    and (ii) the issuance of bonds is authorized by a statute
8    that exempts the debt incurred on the bonds from the
9    district's statutory debt limitation.
10        (3) The bonds are issued, in one or more issuances, on
11    or before July 1, 2020, but the aggregate principal amount
12    issued in all such bond issuances combined must not exceed
13    $17,500,000.
14        (4) The bonds are issued in accordance with this
15    Article.
16        (5) The proceeds of the bonds are used to accomplish
17    only those projects approved by the voters at an election
18    held on or after November 4, 2014.
19    The debt incurred on any bonds issued under this
20subsection (p-100) shall not be considered indebtedness for
21purposes of any statutory debt limitation. Bonds issued under
22this subsection (p-100) must mature within not to exceed 25
23years from their date, notwithstanding any other law,
24including Section 19-3 of this Code, to the contrary.
25    (p-105) In addition to all other authority to issue bonds,
26North Shore School District 112 may issue bonds with an

 

 

HB2492- 58 -LRB103 26244 RJT 52604 b

1aggregate principal amount not to exceed $150,000,000, but
2only if all of the following conditions are met:
3        (1) The voters of the district approve a proposition
4    for the bond issuance at an election held on or after March
5    15, 2016.
6        (2) Prior to the issuance of the bonds, the school
7    board determines, by resolution, that (i) the building and
8    equipping of new buildings and improving the sites thereof
9    and the building and equipping of additions to, altering,
10    repairing, equipping, and renovating existing buildings
11    and improving the sites thereof are required as a result
12    of the age and condition of the district's existing
13    buildings and (ii) the issuance of bonds is authorized by
14    a statute that exempts the debt incurred on the bonds from
15    the district's statutory debt limitation.
16        (3) The bonds are issued, in one or more issuances,
17    not later than 5 years after the date of the referendum
18    approving the issuance of the bonds, but the aggregate
19    principal amount issued in all such bond issuances
20    combined must not exceed $150,000,000.
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

 

 

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1subsection (p-105) and on any bonds issued to refund or
2continue to refund such bonds shall not be considered
3indebtedness for purposes of any statutory debt limitation.
4Bonds issued under this subsection (p-105) and any bonds
5issued to refund or continue to refund such bonds must mature
6within not to exceed 30 years from their date, notwithstanding
7any other law, including Section 19-3 of this Code, to the
8contrary.
9    (p-110) In addition to all other authority to issue bonds,
10Sandoval Community Unit School District 501 may issue bonds
11with an aggregate principal amount not to exceed $2,000,000,
12but only if all of the following conditions are met:
13        (1) The voters of the district approved a proposition
14    for the bond issuance at an election held on March 20,
15    2012.
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 because of
19    the age and current condition of the Sandoval Elementary
20    School building and (ii) 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 19, 2022, but the aggregate
25    principal amount issued in all such bond issuances
26    combined must not exceed $2,000,000.

 

 

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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 the election
5    held on March 20, 2012.
6    The debt incurred on any bonds issued under this
7subsection (p-110) and on any bonds issued to refund or
8continue to refund the bonds shall not be considered
9indebtedness for purposes of any statutory debt limitation.
10    (p-115) In addition to all other authority to issue bonds,
11Bureau Valley Community Unit School District 340 may issue
12bonds with an aggregate principal amount not to exceed
13$25,000,000, but only if all of the following conditions are
14met:
15        (1) The voters of the district approve a proposition
16    for the bond issuance at an election held on or after March
17    15, 2016.
18        (2) Prior to the issuances of the bonds, the school
19    board determines, by resolution, that (i) the renovating
20    and equipping of some existing school buildings, the
21    building and equipping of new school buildings, and the
22    demolishing of some existing school buildings are required
23    as a result of the age and condition of existing school
24    buildings and (ii) the issuance of bonds is authorized by
25    a statute that exempts the debt incurred on the bonds from
26    the district's statutory debt limitation.

 

 

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1        (3) The bonds are issued, in one or more issuances, on
2    or before July 1, 2021, but the aggregate principal amount
3    issued in all such bond issuances combined must not exceed
4    $25,000,000.
5        (4) The bonds are issued in accordance with this
6    Article.
7        (5) The proceeds of the bonds are used to accomplish
8    only those projects approved by the voters at an election
9    held on or after March 15, 2016.
10    The debt incurred on any bonds issued under this
11subsection (p-115) shall not be considered indebtedness for
12purposes of any statutory debt limitation. Bonds issued under
13this subsection (p-115) must mature within not to exceed 30
14years from their date, notwithstanding any other law,
15including Section 19-3 of this Code, to the contrary.
16    (p-120) In addition to all other authority to issue bonds,
17Paxton-Buckley-Loda Community Unit School District 10 may
18issue bonds with an aggregate principal amount not to exceed
19$28,500,000, but only if all the following conditions are met:
20        (1) The voters of the district approve a proposition
21    for the bond issuance at an election held on or after
22    November 8, 2016.
23        (2) Prior to the issuance of the bonds, the school
24    board determines, by resolution, that (i) the projects as
25    described in said proposition, relating to the building
26    and equipping of one or more school buildings or additions

 

 

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1    to existing school buildings, are required as a result of
2    the age and condition of the District's existing buildings
3    and (ii) the issuance of bonds is authorized by a statute
4    that exempts the debt incurred on the bonds from the
5    district's statutory debt limitation.
6        (3) The bonds are issued, in one or more issuances,
7    not 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
10    combined must not exceed $28,500,000.
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 November 8, 2016.
16    The debt incurred on any bonds issued under this
17subsection (p-120) and on any bonds issued to refund or
18continue to refund such bonds shall not be considered
19indebtedness for purposes of any statutory debt limitation.
20Bonds issued under this subsection (p-120) and any bonds
21issued to refund or continue to refund such bonds must mature
22within not to exceed 25 years from their date, notwithstanding
23any other law, including Section 19-3 of this Code, to the
24contrary.
25    (p-125) In addition to all other authority to issue bonds,
26Hillsboro Community Unit School District 3 may issue bonds

 

 

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1with an aggregate principal amount not to exceed $34,500,000,
2but only if all the following conditions are met:
3        (1) The voters of the district approve a proposition
4    for the bond issuance at an election held on or after March
5    15, 2016.
6        (2) Prior to the issuance of the bonds, the school
7    board determines, by resolution, that (i) altering,
8    repairing, and equipping the high school
9    agricultural/vocational building, demolishing the high
10    school main, cafeteria, and gym buildings, building and
11    equipping a school building, and improving sites are
12    required as a result of the age and condition of the
13    district's existing buildings and (ii) the issuance of
14    bonds is authorized by a statute that exempts the debt
15    incurred on the bonds from the district's statutory debt
16    limitation.
17        (3) The bonds are issued, in one or more issuances,
18    not later than 5 years after the date of the referendum
19    approving the issuance of the bonds, but the aggregate
20    principal amount issued in all such bond issuances
21    combined must not exceed $34,500,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only those projects approved by the voters at an election
26    held on or after March 15, 2016.

 

 

HB2492- 64 -LRB103 26244 RJT 52604 b

1    The debt incurred on any bonds issued under this
2subsection (p-125) and on any bonds issued to refund or
3continue to refund such bonds shall not be considered
4indebtedness for purposes of any statutory debt limitation.
5Bonds issued under this subsection (p-125) and any bonds
6issued to refund or continue to refund such bonds must mature
7within not to exceed 25 years from their date, notwithstanding
8any other law, including Section 19-3 of this Code, to the
9contrary.
10    (p-130) In addition to all other authority to issue bonds,
11Waltham Community Consolidated School District 185 may incur
12indebtedness in an aggregate principal amount not to exceed
13$9,500,000 to build and equip a new school building and
14improve the site thereof, but only if all the following
15conditions are met:
16        (1) A majority of the voters of the district voting on
17    an advisory question voted in favor of the question
18    regarding the use of funding sources to build a new school
19    building without increasing property tax rates at the
20    general election held on November 8, 2016.
21        (2) Prior to incurring the debt, the school board
22    enters into intergovernmental agreements with the City of
23    LaSalle to pledge moneys in a special tax allocation fund
24    associated with tax increment financing districts LaSalle
25    I and LaSalle III and with the Village of Utica to pledge
26    moneys in a special tax allocation fund associated with

 

 

HB2492- 65 -LRB103 26244 RJT 52604 b

1    tax increment financing district Utica I for the purposes
2    of repaying the debt issued pursuant to this subsection
3    (p-130). Notwithstanding any other provision of law to the
4    contrary, the intergovernmental agreement may extend these
5    tax increment financing districts as necessary to ensure
6    repayment of the debt.
7        (3) Prior to incurring the debt, the school board
8    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 the district's existing
11    buildings and (ii) the debt is authorized by a statute
12    that exempts the debt from the district's statutory debt
13    limitation.
14        (4) The debt is incurred, in one or more issuances,
15    not later than January 1, 2021, and the aggregate
16    principal amount of debt issued in all such issuances
17    combined must not exceed $9,500,000.
18    The debt incurred under this subsection (p-130) and on any
19bonds issued to pay, refund, or continue to refund such debt
20shall not be considered indebtedness for purposes of any
21statutory debt limitation. Debt issued under this subsection
22(p-130) and any bonds issued to pay, refund, or continue to
23refund such debt must mature within not to exceed 25 years from
24their date, notwithstanding any other law, including Section
2519-11 of this Code and subsection (b) of Section 17 of the
26Local Government Debt Reform Act, to the contrary.

 

 

HB2492- 66 -LRB103 26244 RJT 52604 b

1    (p-133) Notwithstanding the provisions of subsection (a)
2of this Section or of any other law, bonds heretofore or
3hereafter issued by East Prairie School District 73 with an
4aggregate principal amount not to exceed $47,353,147 and
5approved by the voters of the district at the general election
6held on November 8, 2016, and any bonds issued to refund or
7continue to refund the bonds, shall not be considered
8indebtedness for the purposes of any statutory debt limitation
9and may mature within not to exceed 25 years from their date,
10notwithstanding any other law, including Section 19-3 of this
11Code, to the contrary.
12    (p-135) In addition to all other authority to issue bonds,
13Brookfield LaGrange Park School District Number 95 may issue
14bonds with an aggregate principal amount not to exceed
15$20,000,000, but only if all the following conditions are met:
16        (1) The voters of the district approve a proposition
17    for the bond issuance at an election held on or after April
18    4, 2017.
19        (2) Prior to the issuance of the bonds, the school
20    board determines, by resolution, that (i) the additions
21    and renovations to the Brook Park Elementary and S. E.
22    Gross Middle School buildings are required to accommodate
23    enrollment growth, replace outdated facilities, and create
24    spaces consistent with 21st century learning and (ii) the
25    issuance of the bonds is authorized by a statute that
26    exempts the debt incurred on the bonds from the district's

 

 

HB2492- 67 -LRB103 26244 RJT 52604 b

1    statutory debt limitation.
2        (3) The bonds are issued, in one or more issuances,
3    not later than 5 years after the date of the referendum
4    approving the issuance of the bonds, but the aggregate
5    principal amount issued in all such bond issuances
6    combined must not exceed $20,000,000.
7        (4) The bonds are issued in accordance with this
8    Article.
9        (5) The proceeds of the bonds are used to accomplish
10    only those projects approved by the voters at an election
11    held on or after April 4, 2017.
12    The debt incurred on any bonds issued under this
13subsection (p-135) and on any bonds issued to refund or
14continue to refund such bonds shall not be considered
15indebtedness for purposes of any statutory debt limitation.
16    (p-140) The debt incurred on any bonds issued by Wolf
17Branch School District 113 under Section 17-2.11 of this Code
18for the purpose of repairing or replacing all or a portion of a
19school building that has been damaged by mine subsidence in an
20aggregate principal amount not to exceed $17,500,000 and on
21any bonds issued to refund or continue to refund those bonds
22shall not be considered indebtedness for purposes of any
23statutory debt limitation and must mature no later than 25
24years from the date of issuance, notwithstanding any other
25provision of law to the contrary, including Section 19-3 of
26this Code. The maximum allowable amount of debt exempt from

 

 

HB2492- 68 -LRB103 26244 RJT 52604 b

1statutory debt limitations under this subsection (p-140) shall
2be reduced by an amount equal to any grants awarded by the
3State Board of Education or Capital Development Board for the
4explicit purpose of repairing or reconstructing a school
5building damaged by mine subsidence.
6    (p-145) In addition to all other authority to issue bonds,
7Greenview Community Unit School District 200 may issue bonds
8with an aggregate principal amount not to exceed $3,500,000,
9but only if all of 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 March 17,
12    2020.
13        (2) Prior to the issuance of the bonds, the school
14    board determines, by resolution, that the bonding is
15    necessary for construction and expansion of the district's
16    kindergarten through grade 12 facility.
17        (3) The bonds are issued, in one or more issuances,
18    not later than 5 years after the date of the referendum
19    approving the issuance of the bonds, but the aggregate
20    principal amount issued in all such bond issuances
21    combined must not exceed $3,500,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only the projects approved by the voters at an election
26    held on March 17, 2020.

 

 

HB2492- 69 -LRB103 26244 RJT 52604 b

1    The debt incurred on any bonds issued under this
2subsection (p-145) and on any bonds issued to refund or
3continue to refund such bonds shall not be considered
4indebtedness for purposes of any statutory debt limitation.
5Bonds issued under this subsection (p-145) and any bonds
6issued to refund or continue to refund such bonds must mature
7within not to exceed 25 years from their date, notwithstanding
8any other law, including Section 19-3 of this Code, to the
9contrary.
10    (p-150) In addition to all other authority to issue bonds,
11Komarek School District 94 may issue bonds with an aggregate
12principal amount not to exceed $20,800,000, but only if all of
13the 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 March
16    17, 2020.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (i) building and
19    equipping additions to, altering, repairing, equipping, or
20    demolishing a portion of, or improving the site of the
21    district's existing school building is required as a
22    result of the age and condition of the existing building
23    and (ii) the issuance of the bonds is authorized by a
24    statute that exempts the debt incurred on the bonds from
25    the district's statutory debt limitation.
26        (3) The bonds are issued, in one or more issuances, no

 

 

HB2492- 70 -LRB103 26244 RJT 52604 b

1    later than 5 years after the date of the referendum
2    approving the issuance of the bonds, but the aggregate
3    principal amount issued in all of the bond issuances
4    combined may not exceed $20,800,000.
5        (4) The bonds are issued in accordance with this
6    Article.
7        (5) The proceeds of the bonds are used to accomplish
8    only those projects approved by the voters at an election
9    held on or after March 17, 2020.
10    The debt incurred on any bonds issued under this
11subsection (p-150) and on any bonds issued to refund or
12continue to refund those bonds may not be considered
13indebtedness for purposes of any statutory debt limitation.
14Notwithstanding any other law to the contrary, including
15Section 19-3, bonds issued under this subsection (p-150) and
16any bonds issued to refund or continue to refund those bonds
17must mature within 30 years from their date of issuance.
18    (p-155) In addition to all other authority to issue bonds,
19Williamsville Community Unit School District 15 may issue
20bonds with an aggregate principal amount not to exceed
21$40,000,000, but only if all of the following conditions are
22met:
23        (1) The voters of the school district approve a
24    proposition for the bond issuance at an election held on
25    March 17, 2020.
26        (2) Prior to the issuance of the bonds, the school

 

 

HB2492- 71 -LRB103 26244 RJT 52604 b

1    board determines, by resolution, that the projects set
2    forth in the proposition for the bond issuance were and
3    are required because of the age and condition of the
4    school district's existing school buildings.
5        (3) The bonds are issued, in one or more issuances,
6    not 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
9    combined must not exceed $40,000,000.
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 the projects approved by the voters at an election
14    held on March 17, 2020.
15    The debt incurred on any bonds issued under this
16subsection (p-155) and on any bonds issued to refund or
17continue to refund such bonds shall not be considered
18indebtedness for purposes of any statutory debt limitation.
19Bonds issued under this subsection (p-155) and any bonds
20issued to refund or continue to refund such bonds must mature
21within not to exceed 25 years from their date, notwithstanding
22any other law, including Section 19-3 of this Code, to the
23contrary.
24    (p-160) In addition to all other authority to issue bonds,
25Berkeley School District 87 may issue bonds with an aggregate
26principal amount not to exceed $105,000,000, but only if all

 

 

HB2492- 72 -LRB103 26244 RJT 52604 b

1of the following conditions are met:
2        (1) The voters of the district approve a proposition
3    for the bond issuance at the general primary election held
4    on March 17, 2020.
5        (2) Prior to the issuance of the bonds, the school
6    board determines, by resolution, that (i) building and
7    equipping a school building to replace the Sunnyside
8    Intermediate and MacArthur Middle School buildings;
9    building and equipping additions to and altering,
10    repairing, and equipping the Riley Intermediate and
11    Northlake Middle School buildings; altering, repairing,
12    and equipping the Whittier Primary and Jefferson Primary
13    School buildings; improving sites; renovating
14    instructional spaces; providing STEM (science, technology,
15    engineering, and mathematics) labs; and constructing life
16    safety, security, and infrastructure improvements are
17    required to replace outdated facilities and to provide
18    safe spaces consistent with 21st century learning and (ii)
19    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,
23    not 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
26    combined must not exceed $105,000,000.

 

 

HB2492- 73 -LRB103 26244 RJT 52604 b

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 the general
5    primary election held on March 17, 2020.
6    The debt incurred on any bonds issued under this
7subsection (p-160) and on any bonds issued to refund or
8continue to refund such bonds shall not be considered
9indebtedness for purposes of any statutory debt limitation.
10    (p-165) In addition to all other authority to issue bonds,
11Elmwood Park Community Unit School District 401 may issue
12bonds with an aggregate principal amount not to exceed
13$55,000,000, but only if all of the following conditions are
14met:
15        (1) The voters of the district approve a proposition
16    for the bond issuance at an election held on or after March
17    17, 2020.
18        (2) Prior to the issuance of the bonds, the school
19    board determines, by resolution, that (i) the building and
20    equipping of an addition to the John Mills Elementary
21    School building; the renovating, altering, repairing, and
22    equipping of the John Mills and Elmwood Elementary School
23    buildings; the installation of safety and security
24    improvements; and the improvement of school sites are
25    required as a result of the age and condition of the
26    district's existing school buildings and (ii) the issuance

 

 

HB2492- 74 -LRB103 26244 RJT 52604 b

1    of bonds is authorized by a statute that exempts the debt
2    incurred on the bonds from the district's statutory debt
3    limitation.
4        (3) The bonds are issued, in one or more issuances,
5    not later than 5 years after the date of the referendum
6    approving the issuance of the bonds, but the aggregate
7    principal amount issued in all such bond issuances
8    combined must not exceed $55,000,000.
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 the projects approved by the voters at an election
13    held on or after March 17, 2020.
14    The debt incurred on any bonds issued under this
15subsection (p-165) and on any bonds issued to refund or
16continue to refund such bonds shall not be considered
17indebtedness for purposes of any statutory debt limitation.
18Bonds issued under this subsection (p-165) and any bonds
19issued to refund or continue to refund such bonds must mature
20within not to exceed 25 years from their date, notwithstanding
21any other law, including Section 19-3 of this Code, to the
22contrary.
23    (p-170) In addition to all other authority to issue bonds,
24Maroa-Forsyth Community Unit School District 2 may issue bonds
25with an aggregate principal amount not to exceed $33,000,000,
26but only if all of the following conditions are met:

 

 

HB2492- 75 -LRB103 26244 RJT 52604 b

1        (1) The voters of the school district approve a
2    proposition for the bond issuance at an election held on
3    March 17, 2020.
4        (2) Prior to the issuance of the bonds, the school
5    board determines, by resolution, that the projects set
6    forth in the proposition for the bond issuance were and
7    are required because of the age and condition of the
8    school district's existing school buildings.
9        (3) The bonds are issued, in one or more issuances,
10    not later than 5 years after the date of the referendum
11    approving the issuance of the bonds, but the aggregate
12    principal amount issued in all such bond issuances
13    combined must not exceed $33,000,000.
14        (4) The bonds are issued in accordance with this
15    Article.
16        (5) The proceeds of the bonds are used to accomplish
17    only the projects approved by the voters at an election
18    held on March 17, 2020.
19    The debt incurred on any bonds issued under this
20subsection (p-170) and on any bonds issued to refund or
21continue to refund such bonds shall not be considered
22indebtedness for purposes of any statutory debt limitation.
23Bonds issued under this subsection (p-170) and any bonds
24issued to refund or continue to refund such bonds must mature
25within not to exceed 25 years from their date, notwithstanding
26any other law, including Section 19-3 of this Code, to the

 

 

HB2492- 76 -LRB103 26244 RJT 52604 b

1contrary.
2    (p-175) In addition to all other authority to issue bonds,
3Schiller Park School District 81 may issue bonds with an
4aggregate principal amount not to exceed $30,000,000, but only
5if 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 March
8    17, 2020.
9        (2) Prior to the issuance of the bonds, the school
10    board determines, by resolution, that (i) building and
11    equipping a school building to replace the Washington
12    Elementary School building, installing fire suppression
13    systems, security systems, and federal Americans with
14    Disability Act of 1990 compliance measures, acquiring
15    land, and improving the site are required to accommodate
16    enrollment growth, replace an outdated facility, and
17    create spaces consistent with 21st century learning 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,
22    not later than 5 years after the date of the referendum
23    approving the issuance of the bonds, but the aggregate
24    principal amount issued in all such bond issuances
25    combined must not exceed $30,000,000.
26        (4) The bonds are issued in accordance with this

 

 

HB2492- 77 -LRB103 26244 RJT 52604 b

1    Article.
2        (5) The proceeds of the bonds are used to accomplish
3    only the projects approved by the voters at an election
4    held on or after March 17, 2020.
5    The debt incurred on any bonds issued under this
6subsection (p-175) and on any bonds issued to refund or
7continue to refund such bonds shall not be considered
8indebtedness for purposes of any statutory debt limitation.
9Bonds issued under this subsection (p-175) and any bonds
10issued to refund or continue to refund such bonds must mature
11within not to exceed 27 years from their date, notwithstanding
12any other law, including Section 19-3 of this Code, to the
13contrary.
14    (p-180) In addition to all other authority to issue bonds,
15Iroquois County Community Unit School District 9 may issue
16bonds with an aggregate principal amount not to exceed
17$17,125,000, but only if all of the following conditions are
18met:
19        (1) The voters of the district approve a proposition
20    for the bond issuance at an election held on or after April
21    6, 2021.
22        (2) Prior to the issuance of the bonds, the school
23    board determines, by resolution, that (i) building and
24    equipping a new school building in the City of Watseka;
25    altering, repairing, renovating, and equipping portions of
26    the existing facilities of the district; and making site

 

 

HB2492- 78 -LRB103 26244 RJT 52604 b

1    improvements is necessary because of the age and condition
2    of the district's existing school facilities and (ii) the
3    issuance of bonds is authorized by a statute that exempts
4    the debt incurred on the bonds from the district's
5    statutory debt limitation.
6        (3) The bonds are issued, in one or more issuances,
7    not 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
10    combined must not exceed $17,125,000.
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 the projects approved by the voters at an election
15    held on or after April 6, 2021.
16    The debt incurred on any bonds issued under this
17subsection (p-180) and on any bonds issued to refund or
18continue to refund such bonds shall not be considered
19indebtedness for purposes of any statutory debt limitation.
20Bonds issued under this subsection (p-180) and any bonds
21issued to refund or continue to refund such bonds must mature
22within not to exceed 25 years from their date, notwithstanding
23any other law, including Section 19-3 of this Code, to the
24contrary.
25    (p-185) In addition to all other authority to issue bonds,
26Field Community Consolidated School District 3 may issue bonds

 

 

HB2492- 79 -LRB103 26244 RJT 52604 b

1with an aggregate principal amount not to exceed $2,600,000,
2but only if all of the following conditions are met:
3        (1) The voters of the district approve a proposition
4    for the bond issuance at an election held on or after April
5    6, 2021.
6        (2) Prior to the issuance of the bonds, the school
7    board determines, by resolution, that (i) it is necessary
8    to alter, repair, renovate, and equip the existing
9    facilities of the district, including, but not limited to,
10    roof replacement, lighting replacement, electrical
11    upgrades, restroom repairs, and gym renovations, and make
12    site improvements because of the age and condition of the
13    district's existing school facilities and (ii) the
14    issuance of bonds is authorized by a statute that exempts
15    the debt incurred on the bonds from the district's
16    statutory debt limitation.
17        (3) The bonds are issued, in one or more issuances,
18    not later than 5 years after the date of the referendum
19    approving the issuance of the bonds, but the aggregate
20    principal amount issued in all such bond issuances
21    combined must not exceed $2,600,000.
22        (4) The bonds are issued in accordance with this
23    Article.
24        (5) The proceeds of the bonds are used to accomplish
25    only the projects approved by the voters at an election
26    held on or after April 6, 2021.

 

 

HB2492- 80 -LRB103 26244 RJT 52604 b

1    The debt incurred on any bonds issued under this
2subsection (p-185) and on any bonds issued to refund or
3continue to refund such bonds shall not be considered
4indebtedness for purposes of any statutory debt limitation.
5Bonds issued under this subsection (p-185) and any bonds
6issued to refund or continue to refund such bonds must mature
7within not to exceed 25 years from their date, notwithstanding
8any other law, including Section 19-3 of this Code, to the
9contrary.
10    (p-190) In addition to all other authority to issue bonds,
11Mahomet-Seymour Community Unit School District 3 may issue
12bonds with an aggregate principal amount not to exceed
13$97,900,000, but only if all 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 June
16    28, 2022.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (i) it is necessary
19    to build and equip a new junior high school building,
20    build and equip a new transportation building, and build
21    and equip additions to, renovate, and make site
22    improvements at the Lincoln Trail Elementary building,
23    Middletown Prairie Elementary building, and
24    Mahomet-Seymour High School building and (ii) the issuance
25    of bonds is authorized by a statute that exempts the debt
26    incurred on the bonds from the district's statutory debt

 

 

HB2492- 81 -LRB103 26244 RJT 52604 b

1    limitation.
2        (3) The bonds are issued, in one or more issuances,
3    not later than 5 years after the date of the referendum
4    approving the issuance of the bonds, but the aggregate
5    principal amount issued in all such bond issuances
6    combined must not exceed $97,900,000.
7        (4) The bonds are issued in accordance with this
8    Article.
9        (5) The proceeds of the bonds are used to accomplish
10    only the projects approved by the voters at an election
11    held on or after June 28, 2022.
12    The debt incurred on any bonds issued under this
13subsection (p-190) and on any bonds issued to refund or
14continue to refund such bonds shall not be considered
15indebtedness for purposes of any statutory debt limitation.
16Bonds issued under this subsection (p-190) and any bonds
17issued to refund or continue to refund such bonds must mature
18within not to exceed 25 years from their date, notwithstanding
19any other law, including Section 19-3 of this Code, to the
20contrary.
21    (p-195) In addition to all other authority to issue bonds,
22New Berlin Community Unit School District 16 may issue bonds
23with an aggregate principal amount not to exceed $23,500,000,
24but only if all the following conditions are met:
25        (1) The voters of the district approve a proposition
26    for the bond issuance at an election held on or after June

 

 

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1    28, 2022.
2        (2) Prior to the issuance of the bonds, the school
3    board determines, by resolution, that (i) it is necessary
4    to alter, repair, and equip the junior/senior high school
5    building, including creating new classroom, gym, and other
6    instructional spaces, renovating the J.V. Kirby Pretzel
7    Dome, improving heating, cooling, and ventilation systems,
8    installing school safety and security improvements,
9    removing asbestos, and making site improvements, and (ii)
10    the issuance of bonds is authorized by a statute that
11    exempts the debt incurred on the bonds from the district's
12    statutory debt limitation.
13        (3) The bonds are issued, in one or more issuances,
14    not 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
17    combined must not exceed $23,500,000.
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 the projects approved by the voters at an election
22    held on or after June 28, 2022.
23    The debt incurred on any bonds issued under this
24subsection (p-195) and on any bonds issued to refund or
25continue to refund such bonds shall not be considered
26indebtedness for purposes of any statutory debt limitation.

 

 

HB2492- 83 -LRB103 26244 RJT 52604 b

1Bonds issued under this subsection (p-195) and any bonds
2issued to refund or continue to refund such bonds must mature
3within not to exceed 25 years from their date, notwithstanding
4any other law, including Section 19-3 of this Code, to the
5contrary.
6    (p-200) In addition to all other authority to issue bonds,
7Highland Community Unit School District 5 may issue bonds with
8an aggregate principal amount not to exceed $40,000,000, but
9only 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 June
12    28, 2022.
13        (2) Prior to the issuance of the bonds, the school
14    board determines, by resolution, that (i) it is necessary
15    to improve the sites of, build, and equip a new primary
16    school building and build and equip additions to and
17    alter, repair, and equip existing school buildings 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,
22    not later than 5 years after the date of the referendum
23    approving the issuance of the bonds, but the aggregate
24    principal amount issued in all such bond issuances
25    combined must not exceed $40,000,000.
26        (4) The bonds are issued in accordance with this

 

 

HB2492- 84 -LRB103 26244 RJT 52604 b

1    Article.
2        (5) The proceeds of the bonds are used to accomplish
3    only the projects approved by the voters at an election
4    held on or after June 28, 2022.
5    The debt incurred on any bonds issued under this
6subsection (p-200) and on any bonds issued to refund or
7continue to refund such bonds shall not be considered
8indebtedness for purposes of any statutory debt limitation.
9Bonds issued under this subsection (p-200) and any bonds
10issued to refund or continue to refund such bonds must mature
11within not to exceed 25 years from their date, notwithstanding
12any other law, including Section 19-3 of this Code, to the
13contrary.
14    (p-205) In addition to all other authority to issue bonds,
15Sullivan Community Unit School District 300 may issue bonds
16with an aggregate principal amount not to exceed $25,000,000,
17but only if all of 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 June
20    28, 2022.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the projects set
23    forth in the proposition for the issuance of the bonds are
24    required because of the age, condition, or capacity of the
25    school district's existing school buildings and (ii) the
26    issuance of bonds is authorized by a statute that exempts

 

 

HB2492- 85 -LRB103 26244 RJT 52604 b

1    the debt incurred on the bonds from the district's
2    statutory debt limitation.
3        (3) The bonds are issued, in one or more issuances,
4    not later than 5 years after the date of the referendum
5    approving the issuance of the bonds, but the aggregate
6    principal amount issued in all such bond issuances
7    combined must not exceed $25,000,000.
8        (4) The bonds are issued in accordance with this
9    Article.
10        (5) The proceeds of the bonds are used to accomplish
11    only the projects approved by the voters at an election
12    held on or after June 28, 2022.
13    The debt incurred on any bonds issued under this
14subsection (p-205) and on any bonds issued to refund or
15continue to refund such bonds shall not be considered
16indebtedness for purposes of any statutory debt limitation.
17Bonds issued under this subsection (p-205) and any bonds
18issued to refund or continue to refund such bonds must mature
19within not to exceed 25 years from their date, notwithstanding
20any other law, including Section 19-3 of this Code, to the
21contrary.
22    (p-210) In addition to all other authority to issue bonds,
23Manhattan School District 114 may issue bonds with an
24aggregate principal amount not to exceed $85,000,000, but only
25if all the following conditions are met:
26        (1) The voters of the district approve a proposition

 

 

HB2492- 86 -LRB103 26244 RJT 52604 b

1    for the bond issuance at an election held on or after June
2    28, 2022.
3        (2) Prior to the issuance of the bonds, the school
4    board determines, by resolution, that the projects set
5    forth in the proposition for the bond issuance were and
6    are required because of the age, condition, or capacity of
7    the school district's existing school buildings.
8        (3) The bonds are issued, in one or more issuances,
9    not later than 5 years after the date of the referendum
10    approving the issuances of the bonds, but the aggregate
11    principal amount issued in all such bond issuances
12    combined must not exceed $85,000,000.
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 the projects approved by the voters at an election
17    held on or after June 28, 2022.
18    The debt incurred on any bonds issued under this
19subsection (p-210) and on any bonds issued to refund or
20continue to refund such bonds shall not be considered
21indebtedness for purposes of any statutory debt limitation.
22Bonds issued under this subsection (p-210) and any bonds
23issued to refund or continue to refund such bonds must mature
24within not to exceed 30 years from their date, notwithstanding
25any other law, including Section 19-3 of this Code, to the
26contrary.

 

 

HB2492- 87 -LRB103 26244 RJT 52604 b

1    (p-215) In addition to all other authority to issue bonds,
2Golf Elementary School District 67 may issue bonds with an
3aggregate principal amount not to exceed $56,000,000, but only
4if all of the following conditions are met:
5        (1) The voters of the district approve a proposition
6    for the bond issuance at an election held on or after June
7    28, 2022.
8        (2) Prior to the issuance of the bonds, the school
9    board determines, by resolution, that (i) it is necessary
10    to build and equip a new school building and improve the
11    site thereof and (ii) the issuance of bonds is authorized
12    by a statute that exempts the debt incurred on the bonds
13    from the district's statutory debt limitation.
14        (3) The bonds are issued, in one or more issuances,
15    not later than 5 years after the date of the referendum
16    approving the issuance of the bonds, but the aggregate
17    principal amount issued in all such bond issuances
18    combined must not exceed $56,000,000.
19        (4) The bonds are issued in accordance with this
20    Article.
21        (5) The proceeds of the bonds are used to accomplish
22    only the projects approved by the voters at an election
23    held on or after June 28, 2022.
24    The debt incurred on any bonds issued under this
25subsection (p-215) and on any bonds issued to refund or
26continue to refund such bonds shall not be considered

 

 

HB2492- 88 -LRB103 26244 RJT 52604 b

1indebtedness for purposes of any statutory debt limitation.
2Bonds issued under this subsection (p-215) and any bonds
3issued to refund or continue to refund such bonds must mature
4within not to exceed 25 years from their date, notwithstanding
5any other law, including Section 19-3 of this Code, to the
6contrary.
7    (p-220) Notwithstanding the provisions of subsection (a)
8of this Section or of any other law, a school district may
9issue bonds or certificates to finance guaranteed energy
10savings contracts pursuant to Article 19b of this Code, and
11any bonds or certificates so issued shall not be considered
12indebtedness for purposes of any statutory limitation and may
13be issued in an amount or amounts, including existing
14indebtedness, in excess of any heretofore or hereafter imposed
15statutory limitation as to indebtedness.
16    (q) A school district must notify the State Board of
17Education prior to issuing any form of long-term or short-term
18debt that will result in outstanding debt that exceeds 75% of
19the debt limit specified in this Section or any other
20provision of law.
21(Source: P.A. 101-646, eff. 6-26-20; 102-316, eff. 8-6-21;
22102-949, eff. 5-27-22.)
 
23    (105 ILCS 5/19b-5.5 new)
24    Sec. 19b-5.5. Indebtedness and bonds; tax levy.
25    (a) The school board of any school district, whether

 

 

HB2492- 89 -LRB103 26244 RJT 52604 b

1organized under a general law or special charter, having a
2population of less than 500,000 inhabitants may, by
3resolution, incur an indebtedness and issue bonds as evidence
4thereof in an amount or amounts not exceeding the aggregate
5cost of all expenditures reasonably expected to be incurred
6pursuant to a guaranteed energy savings contract entered into
7in accordance with this Article. The bonds shall bear interest
8at not more than the maximum rate authorized by law and shall
9mature within 20 years from the date thereof.
10    (b) A certified copy of the resolution authorizing the
11issuance of bonds under this Section shall be filed with the
12county clerk of each county in which any portion of any such
13district is situated and the county clerk shall annually
14extend taxes against all of the taxable property situated in
15the county and contained in such district in amounts
16sufficient to pay maturing principal and interest of such
17bonds without limitation as to rate or amount and in addition
18to and in excess of any taxes that may now or hereafter be
19authorized to be levied.
 
20    (105 ILCS 5/19b-6)  (from Ch. 122, par. 19b-6)
21    Sec. 19b-6. Term; budget and appropriations. Guaranteed
22energy savings contracts may extend beyond the fiscal year in
23which they become effective. The school district or area
24vocational center shall include in its annual budget and
25appropriations measures for each subsequent fiscal year any

 

 

HB2492- 90 -LRB103 26244 RJT 52604 b

1amounts payable under guaranteed energy savings contracts
2during that fiscal year. Sections 2-3.12 and , 3-14.20, and
310-22.36 of this the School Code shall apply to this Article
419b.
5(Source: P.A. 92-767, eff. 8-6-02.)