Illinois General Assembly - Bill Status for HB4243
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 Bill Status of HB4243  99th General Assembly

Short Description:  SCH CD-BOND ISSUANCE

House Sponsors
Rep. David R. Leitch

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
105 ILCS 5/19-1

Synopsis As Introduced
Amends the School Code with respect to the debt limitations of school districts. Allows Bureau Valley Community Unit School District 340 to issue bonds with an aggregate principal amount not to exceed $25,000,000 if, among other conditions, (i) the voters of the district approve a proposition for the bond issuance at an election held on or after March 15, 2016; (ii) prior to the issuance of the bonds, the school board determines that the renovating and equipping of some existing school buildings, the building and equipping of new school buildings, and the demolishing of some existing school buildings is required as a result of the age and condition of existing school buildings; and (iii) the bonds are issued, in one or more issuances, on or before July 1, 2021. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and the bonds must mature within not to exceed 30 years from their date. Effective immediately.

DateChamber Action
  7/2/2015HouseFiled with the Clerk by Rep. David R. Leitch
  7/9/2015HouseFirst Reading
  7/9/2015HouseReferred to Rules Committee
  1/10/2017HouseSession Sine Die

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