HB1969sam002 95TH GENERAL ASSEMBLY

Sen. Dan Rutherford

Filed: 5/8/2007

09500HB1969sam002 LRB095 11335 NHT 35993 a

AMENDMENT TO HOUSE BILL 1969

AMENDMENT NO. ______. Amend House Bill 1969, AS AMENDED, in Section 5, Sec. 19-1, immediately below subsec. (p-30), by inserting the following:

"(p-35) Because Central School District Number 51 has experienced an extremely rapid increase in the size of its student population (since 2001, the size of the district's student population has increased from 608 to 833 and is expected to exceed 1,000 by the 2010-2011 school year) and because the school district must be able to construct new facilities and improve its existing facilities in order to meet the needs of its current and future students, in addition to all other authority to issue bonds, Central School District 51 may issue bonds with an aggregate principal amount not to exceed $11,800,000, but only if all of the following conditions are met:

(i) The voters of the district approved a proposition for the bond issuance at an election held on April 17, 2007.

(ii) At the time of the sale of the bonds, the school board determines, by resolution, that (A) the building and equipping of a school building and the improvement of the site thereof are required as a result of a projected increase in the enrollment of students in the district and (B) the altering, repairing, and equipping of the school building is required because of the age of the school building.

(iii) The bonds are issued, in one or more bond issuances, on or before December 31, 2011; however, the aggregate principal amount issued in all such bond issuances combined must not exceed $11,800,000.

(iv) The bonds are issued in accordance with this Article.

(v) The proceeds of the bonds are used to accomplish only those projects approved by the voters at an election held on April 17, 2007.

The debt incurred on any bonds issued under this subsection (p-35) shall not be considered indebtedness for purposes of any statutory debt limitation.

(p-40) In addition to all other authority to issue bonds, Prairie Hill Community Consolidated School District 133 may issue bonds with an aggregate principal amount not to exceed $13,900,000, but only if all of the following conditions are met:

(i) The voters of the district approved a proposition for the bond issuance at an election held on April 17, 2007.

(ii) At the time of the sale of the bonds, the school board determines, by resolution, that (A) the improvement of the site of and the building and equipping of a school building are required as a result of a projected increase in the enrollment of students in the district and (B) the repairing and equipping of the Prairie Hill Elementary School building is required because of the age of that school building.

(iii) The bonds are issued, in one or more bond issuances, on or before December 31, 2011, but the aggregate principal amount issued in all such bond issuances combined must not exceed $13,900,000.

(iv) The bonds are issued in accordance with this Article.

(v) The proceeds of the bonds are used to accomplish only those projects approved by the voters at an election held on April 17. 2007.

The debt incurred on any bonds issued under this subsection (p-40) shall not be considered indebtedness for purposes of any statutory debt limitation.".