99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB1453

 

Introduced 2/20/2015, by Sen. Julie A. Morrison

 

SYNOPSIS AS INTRODUCED:
 
105 ILCS 5/19-1

    Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, North Shore School District 112 may issue bonds with an aggregate principal amount not to exceed $150,000,000 if certain conditions are met, including (1) that the voters of the district approve a proposition for the bond issuance at an election held on or after March 15, 2016 and (2) that, prior to the issuance of the bonds, the school board determines, by resolution, that the building and equipping of new buildings and improving the sites thereof and the building and equipping of additions to, altering, repairing, equipping, and renovating existing buildings and improving the sites thereof are required as a result of the age and condition of the district's existing buildings. Provides that the debt incurred on the bonds and on any bonds issued to refund or continue to refund such bonds shall not be considered indebtedness for purposes of any statutory debt limitation and that the bonds and any bonds issued to refund or continue to refund such bonds must mature within not to exceed 30 years from their date, notwithstanding any other law to the contrary.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1453LRB099 09466 NHT 29674 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 School Code is amended by changing Section
519-1 as follows:
 
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 provisions
9limiting their indebtedness prescribed in "An Act to limit the
10indebtedness of counties having a population of less than
11500,000 and townships, school districts and other municipal
12corporations having a population of less than 300,000",
13approved February 15, 1928, as amended.
14    No school districts maintaining grades K through 8 or 9
15through 12 shall become indebted in any manner or for any
16purpose to an amount, including existing indebtedness, in the
17aggregate exceeding 6.9% on the value of the taxable property
18therein to be ascertained by the last assessment for State and
19county taxes or, until January 1, 1983, if greater, the sum
20that is produced by multiplying the school district's 1978
21equalized assessed valuation by the debt limitation percentage
22in effect on January 1, 1979, previous to the incurring of such
23indebtedness.

 

 

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1    No school districts maintaining grades K through 12 shall
2become indebted in any manner or for any purpose to an amount,
3including existing indebtedness, in the aggregate exceeding
413.8% on the value of the taxable property therein to be
5ascertained by the last assessment for State and county taxes
6or, until January 1, 1983, if greater, the sum that is produced
7by multiplying the school district's 1978 equalized assessed
8valuation by the debt limitation percentage in effect on
9January 1, 1979, previous to the incurring of such
10indebtedness.
11    No partial elementary unit district, as defined in Article
1211E of this Code, shall become indebted in any manner or for
13any purpose in an amount, including existing indebtedness, in
14the aggregate exceeding 6.9% of the value of the taxable
15property of the entire district, to be ascertained by the last
16assessment for State and county taxes, plus an amount,
17including existing indebtedness, in the aggregate exceeding
186.9% of the value of the taxable property of that portion of
19the district included in the elementary and high school
20classification, to be ascertained by the last assessment for
21State and county taxes. Moreover, no partial elementary unit
22district, as defined in Article 11E of this Code, shall become
23indebted on account of bonds issued by the district for high
24school purposes in the aggregate exceeding 6.9% of the value of
25the taxable property of the entire district, to be ascertained
26by the last assessment for State and county taxes, nor shall

 

 

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1the district become indebted on account of bonds issued by the
2district for elementary purposes in the aggregate exceeding
36.9% of the value of the taxable property for that portion of
4the district included in the elementary and high school
5classification, to be ascertained by the last assessment for
6State and county taxes.
7    Notwithstanding the provisions of any other law to the
8contrary, in any case in which the voters of a school district
9have approved a proposition for the issuance of bonds of such
10school district at an election held prior to January 1, 1979,
11and all of the bonds approved at such election have not been
12issued, the debt limitation applicable to such school district
13during the calendar year 1979 shall be computed by multiplying
14the value of taxable property therein, including personal
15property, as ascertained by the last assessment for State and
16county taxes, previous to the incurring of such indebtedness,
17by the percentage limitation applicable to such school district
18under the provisions of this subsection (a).
19    (b) Notwithstanding the debt limitation prescribed in
20subsection (a) of this Section, additional indebtedness may be
21incurred in an amount not to exceed the estimated cost of
22acquiring or improving school sites or constructing and
23equipping additional building facilities under the following
24conditions:
25        (1) Whenever the enrollment of students for the next
26    school year is estimated by the board of education to

 

 

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

 

 

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

 

 

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1or, until January 1, 1983, if greater, the sum that is produced
2by multiplying the school district's 1978 equalized assessed
3valuation by the debt limitation percentage in effect on
4January 1, 1979.
5    The indebtedness provided for by this subsection (b) shall
6be in addition to and in excess of any other debt limitation.
7    (c) Notwithstanding the debt limitation prescribed in
8subsection (a) of this Section, in any case in which a public
9question for the issuance of bonds of a proposed school
10district maintaining grades kindergarten through 12 received
11at least 60% of the valid ballots cast on the question at an
12election held on or prior to November 8, 1994, and in which the
13bonds approved at such election have not been issued, the
14school district pursuant to the requirements of Section 11A-10
15(now repealed) may issue the total amount of bonds approved at
16such election for the purpose stated in the question.
17    (d) Notwithstanding the debt limitation prescribed in
18subsection (a) of this Section, a school district that meets
19all the criteria set forth in paragraphs (1) and (2) of this
20subsection (d) may incur an additional indebtedness in an
21amount not to exceed $4,500,000, even though the amount of the
22additional indebtedness authorized by this subsection (d),
23when incurred and added to the aggregate amount of indebtedness
24of the district existing immediately prior to the district
25incurring the additional indebtedness authorized by this
26subsection (d), causes the aggregate indebtedness of the

 

 

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

 

 

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1    (f) Notwithstanding the provisions of subsection (a) of
2this Section or of any other law, bonds in not to exceed the
3aggregate amount of $5,500,000 and issued by a school district
4meeting the following criteria shall not be considered
5indebtedness for purposes of any statutory limitation and may
6be issued in an amount or amounts, including existing
7indebtedness, in excess of any heretofore or hereafter imposed
8statutory limitation as to indebtedness:
9        (1) At the time of the sale of such bonds, the board of
10    education of the district shall have determined by
11    resolution that the enrollment of students in the district
12    is projected to increase by not less than 7% during each of
13    the next succeeding 2 school years.
14        (2) The board of education shall also determine by
15    resolution that the improvements to be financed with the
16    proceeds of the bonds are needed because of the projected
17    enrollment increases.
18        (3) The board of education shall also determine by
19    resolution that the projected increases in enrollment are
20    the result of improvements made or expected to be made to
21    passenger rail facilities located in the school district.
22    Notwithstanding the provisions of subsection (a) of this
23Section or of any other law, a school district that has availed
24itself of the provisions of this subsection (f) prior to July
2522, 2004 (the effective date of Public Act 93-799) may also
26issue bonds approved by referendum up to an amount, including

 

 

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1existing indebtedness, not exceeding 25% of the equalized
2assessed value of the taxable property in the district if all
3of the conditions set forth in items (1), (2), and (3) of this
4subsection (f) are met.
5    (g) Notwithstanding the provisions of subsection (a) of
6this Section or any other law, bonds in not to exceed an
7aggregate amount of 25% of the equalized assessed value of the
8taxable property of a school district and issued by a school
9district meeting the criteria in paragraphs (i) through (iv) of
10this subsection shall not be considered indebtedness for
11purposes of any statutory limitation and may be issued pursuant
12to resolution of the school board in an amount or amounts,
13including existing indebtedness, in excess of any statutory
14limitation of indebtedness heretofore or hereafter imposed:
15        (i) The bonds are issued for the purpose of
16    constructing a new high school building to replace two
17    adjacent existing buildings which together house a single
18    high school, each of which is more than 65 years old, and
19    which together are located on more than 10 acres and less
20    than 11 acres of property.
21        (ii) At the time the resolution authorizing the
22    issuance of the bonds is adopted, the cost of constructing
23    a new school building to replace the existing school
24    building is less than 60% of the cost of repairing the
25    existing school building.
26        (iii) The sale of the bonds occurs before July 1, 1997.

 

 

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

 

 

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1may issue bonds up to an amount, including existing
2indebtedness, not exceeding 27% of the equalized assessed value
3of the taxable property in the district, if all of the
4following conditions are met:
5        (i) The school district has an equalized assessed
6    valuation for calendar year 1995 of less than $44,600,000;
7        (ii) The bonds are issued for the capital improvement,
8    renovation, rehabilitation, or replacement of existing
9    school buildings of the district, all of which existing
10    buildings were originally constructed not less than 80
11    years ago;
12        (iii) The voters of the district approve a proposition
13    for the issuance of the bonds at a referendum held after
14    December 31, 1996; and
15        (iv) The bonds are issued pursuant to Sections 19-2
16    through 19-7 of this Code.
17    (j) Notwithstanding any other provisions of this Section or
18the provisions of any other law, until January 1, 1999, a
19community unit school district maintaining grades K through 12
20may issue bonds up to an amount, including existing
21indebtedness, not exceeding 27% of the equalized assessed value
22of the taxable property in the district if all of the following
23conditions are met:
24        (i) The school district has an equalized assessed
25    valuation for calendar year 1995 of less than $140,000,000
26    and a best 3 months average daily attendance for the

 

 

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

 

 

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1limitation otherwise applicable to that school district under
2subsection (a):
3        (1) the school district is located in 2 counties, and a
4    referendum to authorize the additional indebtedness was
5    approved by a majority of the voters of the school district
6    voting on the proposition to authorize that indebtedness;
7        (2) the additional indebtedness is for the purpose of
8    financing a multi-purpose room addition to the existing
9    high school;
10        (3) the additional indebtedness, together with the
11    existing indebtedness of the school district, shall not
12    exceed 17.4% of the value of the taxable property in the
13    school district, to be ascertained by the last assessment
14    for State and county taxes; and
15        (4) the bonds evidencing the additional indebtedness
16    are issued, if at all, within 120 days of the effective
17    date of this amendatory Act of 1998.
18    (l) Notwithstanding any other provisions of this Section or
19the provisions of any other law, until January 1, 2000, a
20school district maintaining grades kindergarten through 8 may
21issue bonds up to an amount, including existing indebtedness,
22not exceeding 15% of the equalized assessed value of the
23taxable property in the district if all of the following
24conditions are met:
25        (i) the district has an equalized assessed valuation
26    for calendar year 1996 of less than $10,000,000;

 

 

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

 

 

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

 

 

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

 

 

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1    through 19-7 of the School Code.
2    (o) Notwithstanding any other provisions of this Section or
3the provisions of any other law, until November 1, 2007, a
4community unit school district maintaining grades K through 12
5may issue bonds up to an amount, including existing
6indebtedness, not exceeding 20% of the equalized assessed value
7of the taxable property in the district if all of the following
8conditions are met:
9        (i) the school district has an equalized assessed
10    valuation for calendar year 2001 of at least $737,000,000
11    and an enrollment for the 2002-2003 school year of at least
12    8,500;
13        (ii) the bonds are issued to purchase school sites,
14    build and equip a new high school, build and equip a new
15    junior high school, build and equip 5 new elementary
16    schools, and make technology and other improvements and
17    additions to existing schools;
18        (iii) at the time of the sale of the bonds, the board
19    of education determines by resolution that the sites and
20    new or improved facilities are needed because of projected
21    enrollment increases;
22        (iv) at least 57% of those voting in a general election
23    held prior to January 1, 2003 approved a proposition for
24    the issuance of the bonds; and
25        (v) the bonds are issued pursuant to Sections 19-2
26    through 19-7 of this Code.

 

 

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

 

 

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

 

 

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1amounts, including existing indebtedness, in excess of any
2heretofore or hereafter imposed statutory limitation as to
3indebtedness, if all of the following conditions are met:
4        (i) For each of the 4 most recent years, residential
5    and farm property comprises more than 80% of the equalized
6    assessed valuation of the district.
7        (ii) The bond proceeds are to be used to acquire and
8    improve school sites and build and equip a school building.
9        (iii) Voters of the district approve a proposition for
10    the issuance of the bonds at a regularly scheduled
11    election.
12        (iv) At the time of the sale of the bonds, the school
13    board determines by resolution that the school sites and
14    building additions are needed because of an increase in
15    enrollment projected by the school board.
16        (v) The principal amount of the bonds, including
17    existing indebtedness, does not exceed 20% of the equalized
18    assessed value of the taxable property in the district.
19        (vi) The bonds are issued prior to January 1, 2007,
20    pursuant to Sections 19-2 through 19-7 of this Code.
21    (p-15) In addition to all other authority to issue bonds,
22the Oswego Community Unit School District Number 308 may issue
23bonds with an aggregate principal amount not to exceed
24$450,000,000, but only if all of the following conditions are
25met:
26        (i) The voters of the district have approved a

 

 

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1    proposition for the bond issue at the general election held
2    on November 7, 2006.
3        (ii) At the time of the sale of the bonds, the school
4    board determines, by resolution, that: (A) the building and
5    equipping of the new high school building, new junior high
6    school buildings, new elementary school buildings, early
7    childhood building, maintenance building, transportation
8    facility, and additions to existing school buildings, the
9    altering, repairing, equipping, and provision of
10    technology improvements to existing school buildings, and
11    the acquisition and improvement of school sites, as the
12    case may be, are required as a result of a projected
13    increase in the enrollment of students in the district; and
14    (B) the sale of bonds for these purposes is authorized by
15    legislation that exempts the debt incurred on the bonds
16    from the district's statutory debt limitation.
17        (iii) The bonds are issued, in one or more bond issues,
18    on or before November 7, 2011, but the aggregate principal
19    amount issued in all such bond issues combined must not
20    exceed $450,000,000.
21        (iv) The bonds are issued in accordance with this
22    Article 19.
23        (v) The proceeds of the bonds are used only to
24    accomplish those projects approved by the voters at the
25    general election held on November 7, 2006.
26The debt incurred on any bonds issued under this subsection

 

 

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1(p-15) shall not be considered indebtedness for purposes of any
2statutory debt limitation.
3    (p-20) In addition to all other authority to issue bonds,
4the Lincoln-Way Community High School District Number 210 may
5issue bonds with an aggregate principal amount not to exceed
6$225,000,000, 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 primary
10    election held on March 21, 2006.
11        (ii) At the time of the sale of the bonds, the school
12    board determines, by resolution, that: (A) the building and
13    equipping of the new high school buildings, the altering,
14    repairing, and equipping of existing school buildings, and
15    the improvement of school sites, as the case may be, are
16    required as a result of a projected increase in the
17    enrollment of students in the district; and (B) the sale of
18    bonds for these purposes is authorized by legislation that
19    exempts the debt incurred on the bonds from the district's
20    statutory debt limitation.
21        (iii) The bonds are issued, in one or more bond issues,
22    on or before March 21, 2011, but the aggregate principal
23    amount issued in all such bond issues combined must not
24    exceed $225,000,000.
25        (iv) The bonds are issued in accordance with this
26    Article 19.

 

 

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

 

 

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

 

 

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1    issuances, on or before December 31, 2012; however, the
2    aggregate principal amount issued in all such bond
3    issuances combined must not exceed $30,000,000.
4        (iv) The bonds are issued in accordance with this
5    Article.
6        (v) The proceeds of the bonds are used to accomplish
7    only those projects approved by the voters at an election
8    held in 2008.
9The debt incurred on any bonds issued under this subsection
10(p-30) shall not be considered indebtedness for purposes of any
11statutory debt limitation.
12    (p-35) In addition to all other authority to issue bonds,
13Prairie Hill Community Consolidated School District 133 may
14issue bonds with an aggregate principal amount not to exceed
15$13,900,000, but only if all of the following conditions are
16met:
17        (i) The voters of the district approved a proposition
18    for the bond issuance at an election held on April 17,
19    2007.
20        (ii) At the time of the sale of the bonds, the school
21    board determines, by resolution, that (A) the improvement
22    of the site of and the building and equipping of a school
23    building are required as a result of a projected increase
24    in the enrollment of students in the district and (B) the
25    repairing and equipping of the Prairie Hill Elementary
26    School building is required because of the age of that

 

 

SB1453- 26 -LRB099 09466 NHT 29674 b

1    school building.
2        (iii) The bonds are issued, in one or more bond
3    issuances, on or before December 31, 2011, but the
4    aggregate principal amount issued in all such bond
5    issuances combined must not exceed $13,900,000.
6        (iv) The bonds are issued in accordance with this
7    Article.
8        (v) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at an election
10    held on April 17, 2007.
11The debt incurred on any bonds issued under this subsection
12(p-35) shall not be considered indebtedness for purposes of any
13statutory debt limitation.
14    (p-40) In addition to all other authority to issue bonds,
15Mascoutah Community Unit District 19 may issue bonds with an
16aggregate principal amount not to exceed $55,000,000, but only
17if all of the following conditions are met:
18        (1) The voters of the district approve a proposition
19    for the bond issuance at a regular election held on or
20    after November 4, 2008.
21        (2) At the time of the sale of the bonds, the school
22    board determines, by resolution, that (i) the building and
23    equipping of a new high school building is required as a
24    result of a projected increase in the enrollment of
25    students in the district and the age and condition of the
26    existing high school building, (ii) the existing high

 

 

SB1453- 27 -LRB099 09466 NHT 29674 b

1    school building will be demolished, and (iii) the sale of
2    bonds is authorized by statute that exempts the debt
3    incurred on the bonds from the district's statutory debt
4    limitation.
5        (3) The bonds are issued, in one or more bond
6    issuances, on or before December 31, 2011, but the
7    aggregate principal amount issued in all such bond
8    issuances combined must not exceed $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 those projects approved by the voters at a regular
13    election held on or after November 4, 2008.
14    The debt incurred on any bonds issued under this subsection
15(p-40) shall not be considered indebtedness for purposes of any
16statutory debt limitation.
17    (p-45) Notwithstanding the provisions of subsection (a) of
18this Section or of any other law, bonds issued pursuant to
19Section 19-3.5 of this Code shall not be considered
20indebtedness for purposes of any statutory limitation if the
21bonds are issued in an amount or amounts, including existing
22indebtedness of the school district, not in excess of 18.5% of
23the value of the taxable property in the district to be
24ascertained by the last assessment for State and county taxes.
25    (p-50) Notwithstanding the provisions of subsection (a) of
26this Section or of any other law, bonds issued pursuant to

 

 

SB1453- 28 -LRB099 09466 NHT 29674 b

1Section 19-3.10 of this Code shall not be considered
2indebtedness for purposes of any statutory limitation if the
3bonds are issued in an amount or amounts, including existing
4indebtedness of the school district, not in excess of 43% of
5the value of the taxable property in the district to be
6ascertained by the last assessment for State and county taxes.
7    (p-55) In addition to all other authority to issue bonds,
8Belle Valley School District 119 may issue bonds with an
9aggregate principal amount not to exceed $47,500,000, but only
10if all of the following conditions are met:
11        (1) The voters of the district approve a proposition
12    for the bond issuance at an election held on or after April
13    7, 2009.
14        (2) Prior to the issuance of the bonds, the school
15    board determines, by resolution, that (i) the building and
16    equipping of a new school building is required as a result
17    of mine subsidence in an existing school building and
18    because of the age and condition of another existing school
19    building and (ii) the issuance of bonds is authorized by
20    statute that exempts the debt incurred on the bonds from
21    the district's statutory debt limitation.
22        (3) The bonds are issued, in one or more bond
23    issuances, on or before March 31, 2014, but the aggregate
24    principal amount issued in all such bond issuances combined
25    must not exceed $47,500,000.
26        (4) The bonds are issued in accordance with this

 

 

SB1453- 29 -LRB099 09466 NHT 29674 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 7, 2009.
5    The debt incurred on any bonds issued under this subsection
6(p-55) shall not be considered indebtedness for purposes of any
7statutory debt limitation. Bonds issued under this subsection
8(p-55) must mature within not to exceed 30 years from their
9date, notwithstanding any other law to the contrary.
10    (p-60) In addition to all other authority to issue bonds,
11Wilmington Community Unit School District Number 209-U may
12issue bonds with an aggregate principal amount not to exceed
13$2,285,000, but only if all of the following conditions are
14met:
15        (1) The proceeds of the bonds are used to accomplish
16    only those projects approved by the voters at the general
17    primary election held on March 21, 2006.
18        (2) Prior to the issuance of the bonds, the school
19    board determines, by resolution, that (i) the projects
20    approved by the voters were and are required because of the
21    age and condition of the school district's prior and
22    existing school buildings and (ii) the issuance of the
23    bonds is authorized by legislation that exempts the debt
24    incurred on the bonds from the district's statutory debt
25    limitation.
26        (3) The bonds are issued in one or more bond issuances

 

 

SB1453- 30 -LRB099 09466 NHT 29674 b

1    on or before March 1, 2011, but the aggregate principal
2    amount issued in all those bond issuances combined must not
3    exceed $2,285,000.
4        (4) The bonds are issued in accordance with this
5    Article.
6    The debt incurred on any bonds issued under this subsection
7(p-60) shall not be considered indebtedness for purposes of any
8statutory debt limitation.
9    (p-65) In addition to all other authority to issue bonds,
10West Washington County Community Unit School District 10 may
11issue bonds with an aggregate principal amount not to exceed
12$32,200,000 and maturing over a period not exceeding 25 years,
13but only if all of the following conditions are met:
14        (1) The voters of the district approve a proposition
15    for the bond issuance at an election held on or after
16    February 2, 2010.
17        (2) Prior to the issuance of the bonds, the school
18    board determines, by resolution, that (A) all or a portion
19    of the existing Okawville Junior/Senior High School
20    Building will be demolished; (B) the building and equipping
21    of a new school building to be attached to and the
22    alteration, repair, and equipping of the remaining portion
23    of the Okawville Junior/Senior High School Building is
24    required because of the age and current condition of that
25    school building; and (C) the issuance of bonds is
26    authorized by a statute that exempts the debt incurred on

 

 

SB1453- 31 -LRB099 09466 NHT 29674 b

1    the bonds from the district's statutory debt limitation.
2        (3) The bonds are issued, in one or more bond
3    issuances, on or before March 31, 2014, but the aggregate
4    principal amount issued in all such bond issuances combined
5    must not exceed $32,200,000.
6        (4) The bonds are issued in accordance with this
7    Article.
8        (5) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at an election
10    held on or after February 2, 2010.
11    The debt incurred on any bonds issued under this subsection
12(p-65) shall not be considered indebtedness for purposes of any
13statutory debt limitation.
14    (p-70) In addition to all other authority to issue bonds,
15Cahokia Community Unit School District 187 may issue bonds with
16an aggregate principal amount not to exceed $50,000,000, but
17only if all the following conditions are met:
18        (1) The voters of the district approve a proposition
19    for the bond issuance at an election held on or after
20    November 2, 2010.
21        (2) Prior to the issuance of the bonds, the school
22    board determines, by resolution, that (i) the building and
23    equipping of a new school building is required as a result
24    of the age and condition of an existing school building and
25    (ii) the issuance of bonds is authorized by a statute that
26    exempts the debt incurred on the bonds from the district's

 

 

SB1453- 32 -LRB099 09466 NHT 29674 b

1    statutory debt limitation.
2        (3) The bonds are issued, in one or more issuances, on
3    or before July 1, 2016, but the aggregate principal amount
4    issued in all such bond issuances combined must not exceed
5    $50,000,000.
6        (4) The bonds are issued in accordance with this
7    Article.
8        (5) The proceeds of the bonds are used to accomplish
9    only those projects approved by the voters at an election
10    held on or after November 2, 2010.
11    The debt incurred on any bonds issued under this subsection
12(p-70) shall not be considered indebtedness for purposes of any
13statutory debt limitation. Bonds issued under this subsection
14(p-70) must mature within not to exceed 25 years from their
15date, notwithstanding any other law, including Section 19-3 of
16this Code, to the contrary.
17    (p-75) Notwithstanding the debt limitation prescribed in
18subsection (a) of this Section or any other provisions of this
19Section or of any other law, the execution of leases on or
20after January 1, 2007 and before July 1, 2011 by the Board of
21Education of Peoria School District 150 with a public building
22commission for leases entered into pursuant to the Public
23Building Commission Act shall not be considered indebtedness
24for purposes of any statutory debt limitation.
25    This subsection (p-75) applies only if the State Board of
26Education or the Capital Development Board makes one or more

 

 

SB1453- 33 -LRB099 09466 NHT 29674 b

1grants to Peoria School District 150 pursuant to the School
2Construction Law. The amount exempted from the debt limitation
3as prescribed in this subsection (p-75) shall be no greater
4than the amount of one or more grants awarded to Peoria School
5District 150 by the State Board of Education or the Capital
6Development Board.
7    (p-80) In addition to all other authority to issue bonds,
8Ridgeland School District 122 may issue bonds with an aggregate
9principal amount not to exceed $50,000,000 for the purpose of
10refunding or continuing to refund bonds originally issued
11pursuant to voter approval at the general election held on
12November 7, 2000, and the debt incurred on any bonds issued
13under this subsection (p-80) shall not be considered
14indebtedness for purposes of any statutory debt limitation.
15Bonds issued under this subsection (p-80) may be issued in one
16or more issuances and must mature within not to exceed 25 years
17from their date, notwithstanding any other law, including
18Section 19-3 of this Code, to the contrary.
19    (p-85) In addition to all other authority to issue bonds,
20Hall High School District 502 may issue bonds with an aggregate
21principal amount not to exceed $32,000,000, but only if all the
22following conditions are met:
23        (1) The voters of the district approve a proposition
24    for the bond issuance at an election held on or after April
25    9, 2013.
26        (2) Prior to the issuance of the bonds, the school

 

 

SB1453- 34 -LRB099 09466 NHT 29674 b

1    board determines, by resolution, that (i) the building and
2    equipping of a new school building is required as a result
3    of the age and condition of an existing school building,
4    (ii) the existing school building should be demolished in
5    its entirety or the existing school building should be
6    demolished except for the 1914 west wing of the building,
7    and (iii) 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, not
11    later than 5 years after the date of the referendum
12    approving the issuance of the bonds, but the aggregate
13    principal amount issued in all such bond issuances combined
14    must not exceed $32,000,000.
15        (4) The bonds are issued in accordance with this
16    Article.
17        (5) The proceeds of the bonds are used to accomplish
18    only those projects approved by the voters at an election
19    held on or after April 9, 2013.
20    The debt incurred on any bonds issued under this subsection
21(p-85) shall not be considered indebtedness for purposes of any
22statutory debt limitation. Bonds issued under this subsection
23(p-85) must mature within not to exceed 30 years from their
24date, notwithstanding any other law, including Section 19-3 of
25this Code, to the contrary.
26    (p-90) In addition to all other authority to issue bonds,

 

 

SB1453- 35 -LRB099 09466 NHT 29674 b

1Lebanon Community Unit School District 9 may issue bonds with
2an aggregate principal amount not to exceed $7,500,000, but
3only if all of the following conditions are met:
4        (1) The voters of the district approved a proposition
5    for the bond issuance at the general primary election on
6    February 2, 2010.
7        (2) At or prior to the time of the sale of the bonds,
8    the school board determines, by resolution, that (i) the
9    building and equipping of a new elementary school building
10    is required as a result of a projected increase in the
11    enrollment of students in the district and the age and
12    condition of the existing Lebanon Elementary School
13    building, (ii) a portion of the existing Lebanon Elementary
14    School building will be demolished and the remaining
15    portion will be altered, repaired, and equipped, and (iii)
16    the sale of bonds is authorized by a statute that exempts
17    the debt incurred on the bonds from the district's
18    statutory debt limitation.
19        (3) The bonds are issued, in one or more bond
20    issuances, on or before April 1, 2014, but the aggregate
21    principal amount issued in all such bond issuances combined
22    must not exceed $7,500,000.
23        (4) The bonds are issued in accordance with this
24    Article.
25        (5) The proceeds of the bonds are used to accomplish
26    only those projects approved by the voters at the general

 

 

SB1453- 36 -LRB099 09466 NHT 29674 b

1    primary election held on February 2, 2010.
2    The debt incurred on any bonds issued under this subsection
3(p-90) shall not be considered indebtedness for purposes of any
4statutory debt limitation.
5    (p-95) In addition to all other authority to issue bonds,
6Monticello Community Unit School District 25 may issue bonds
7with an aggregate principal amount not to exceed $35,000,000,
8but only if all of the following conditions are met:
9        (1) The voters of the district approve a proposition
10    for the bond issuance at an election held on or after
11    November 4, 2014.
12        (2) Prior to the issuance of the bonds, the school
13    board determines, by resolution, that (i) the building and
14    equipping of a new school building is required as a result
15    of the age and condition of an existing school building and
16    (ii) the issuance of bonds is authorized by a statute that
17    exempts the debt incurred on the bonds from the district's
18    statutory debt limitation.
19        (3) The bonds are issued, in one or more issuances, on
20    or before July 1, 2020, but the aggregate principal amount
21    issued in all such bond issuances combined must not exceed
22    $35,000,000.
23        (4) The bonds are issued in accordance with this
24    Article.
25        (5) The proceeds of the bonds are used to accomplish
26    only those projects approved by the voters at an election

 

 

SB1453- 37 -LRB099 09466 NHT 29674 b

1    held on or after November 4, 2014.
2    The debt incurred on any bonds issued under this subsection
3(p-95) shall not be considered indebtedness for purposes of any
4statutory debt limitation. Bonds issued under this subsection
5(p-95) must mature within not to exceed 25 years from their
6date, notwithstanding any other law, including Section 19-3 of
7this Code, to the contrary.
8    (p-100) (p-95) In addition to all other authority to issue
9bonds, the community unit school district created in the
10territory comprising Milford Community Consolidated School
11District 280 and Milford Township High School District 233, as
12approved at the general primary election held on March 18,
132014, may issue bonds with an aggregate principal amount not to
14exceed $17,500,000, but only if all the following conditions
15are met:
16        (1) The voters of the district approve a proposition
17    for the bond issuance at an election held on or after
18    November 4, 2014.
19        (2) Prior to the issuance of the bonds, the school
20    board determines, by resolution, that (i) the building and
21    equipping of a new school building is required as a result
22    of the age and condition of an existing school building and
23    (ii) the issuance of bonds is authorized by a statute that
24    exempts the debt incurred on the bonds from the district's
25    statutory debt limitation.
26        (3) The bonds are issued, in one or more issuances, on

 

 

SB1453- 38 -LRB099 09466 NHT 29674 b

1    or before July 1, 2020, but the aggregate principal amount
2    issued in all such bond issuances combined must not exceed
3    $17,500,000.
4        (4) The bonds are issued in accordance with this
5    Article.
6        (5) The proceeds of the bonds are used to accomplish
7    only those projects approved by the voters at an election
8    held on or after November 4, 2014.
9    The debt incurred on any bonds issued under this subsection
10(p-100) (p-95) shall not be considered indebtedness for
11purposes of any statutory debt limitation. Bonds issued under
12this subsection (p-100) (p-95) must mature within not to exceed
1325 years from their date, notwithstanding any other law,
14including Section 19-3 of this Code, to the contrary.
15    (p-105) In addition to all other authority to issue bonds,
16North Shore School District 112 may issue bonds with an
17aggregate principal amount not to exceed $150,000,000, but only
18if all of the following conditions are met:
19        (1) The voters of the district approve a proposition
20    for the bond issuance at an election held on or after March
21    15, 2016.
22        (2) Prior to the issuance of the bonds, the school
23    board determines, by resolution, that (i) the building and
24    equipping of new buildings and improving the sites thereof
25    and the building and equipping of additions to, altering,
26    repairing, equipping, and renovating existing buildings

 

 

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1    and improving the sites thereof 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, not
7    later than 5 years after the date of the referendum
8    approving the issuance of the bonds, but the aggregate
9    principal amount issued in all such bond issuances combined
10    must not exceed $150,000,000.
11        (4) The bonds are issued in accordance with this
12    Article.
13        (5) The proceeds of the bonds are used to accomplish
14    only those projects approved by the voters at an election
15    held on or after March 15, 2016.
16    The debt incurred on any bonds issued under this subsection
17(p-105) and on any bonds issued to refund or continue to refund
18such bonds shall not be considered indebtedness for purposes of
19any statutory debt limitation. Bonds issued under this
20subsection (p-105) and any bonds issued to refund or continue
21to refund such bonds must mature within not to exceed 30 years
22from their date, notwithstanding any other law, including
23Section 19-3 of this Code, to the contrary.
24    (q) A school district must notify the State Board of
25Education prior to issuing any form of long-term or short-term
26debt that will result in outstanding debt that exceeds 75% of

 

 

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1the debt limit specified in this Section or any other provision
2of law.
3(Source: P.A. 97-333, eff. 8-12-11; 97-834, eff. 7-20-12;
497-1146, eff. 1-18-13; 98-617, eff. 1-7-14; 98-912, eff.
58-15-14; 98-916, eff. 8-15-14; revised 10-1-14.)