Full Text of SB0516 99th General Assembly
SB0516sam001 99TH GENERAL ASSEMBLY | Sen. James F. Clayborne, Jr. Filed: 4/14/2016
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| 1 | | AMENDMENT TO SENATE BILL 516
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 516 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The School Code is amended by changing Section | 5 | | 19-1 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 | 9 | | limiting their
indebtedness prescribed in the Local Government | 10 | | Debt Limitation Act "An Act to limit the indebtedness of | 11 | | counties having
a population of less than 500,000 and | 12 | | townships, school districts and other
municipal corporations | 13 | | having a population of less than 300,000", approved
February | 14 | | 15, 1928, as amended .
| 15 | | No school districts maintaining grades K through 8 or 9 | 16 | | through 12
shall become indebted in any manner or for any |
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| 1 | | purpose to an amount,
including existing indebtedness, in the | 2 | | aggregate exceeding 6.9% on the
value of the taxable property | 3 | | therein to be ascertained by the last assessment
for State and | 4 | | county taxes or, until January 1, 1983, if greater, the sum | 5 | | that
is produced by multiplying the school district's 1978 | 6 | | equalized assessed
valuation by the debt limitation percentage | 7 | | in effect on January 1, 1979,
previous to the incurring of such | 8 | | indebtedness.
| 9 | | No school districts maintaining grades K through 12 shall | 10 | | become
indebted in any manner or for any purpose to an amount, | 11 | | including
existing indebtedness, in the aggregate exceeding | 12 | | 13.8% on the value of
the taxable property therein to be | 13 | | ascertained by the last assessment
for State and county taxes | 14 | | or, until January 1, 1983, if greater, the sum that
is produced | 15 | | by multiplying the school district's 1978 equalized assessed
| 16 | | valuation by the debt limitation percentage in effect on | 17 | | January 1, 1979,
previous to the incurring of such | 18 | | indebtedness.
| 19 | | No partial elementary unit district, as defined in Article | 20 | | 11E of this Code, shall become indebted in any manner or for | 21 | | any purpose in an amount, including existing indebtedness, in | 22 | | the aggregate exceeding 6.9% of the value of the taxable | 23 | | property of the entire district, to be ascertained by the last | 24 | | assessment for State and county taxes, plus an amount, | 25 | | including existing indebtedness, in the aggregate exceeding | 26 | | 6.9% of the value of the taxable property of that portion of |
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| 1 | | the district included in the elementary and high school | 2 | | classification, to be ascertained by the last assessment for | 3 | | State and county taxes. Moreover, no partial elementary unit | 4 | | district, as defined in Article 11E of this Code, shall become | 5 | | indebted on account of bonds issued by the district for high | 6 | | school purposes in the aggregate exceeding 6.9% of the value of | 7 | | the taxable property of the entire district, to be ascertained | 8 | | by the last assessment for State and county taxes, nor shall | 9 | | the district become indebted on account of bonds issued by the | 10 | | district for elementary purposes in the aggregate exceeding | 11 | | 6.9% of the value of the taxable property for that portion of | 12 | | the district included in the elementary and high school | 13 | | classification, to be ascertained by the last assessment for | 14 | | State and county taxes.
| 15 | | Notwithstanding the provisions of any other law to the | 16 | | contrary, in any
case in which the voters of a school district | 17 | | have approved a proposition
for the issuance of bonds of such | 18 | | school district at an election held prior
to January 1, 1979, | 19 | | and all of the bonds approved at such election have
not been | 20 | | issued, the debt limitation applicable to such school district
| 21 | | during the calendar year 1979 shall be computed by multiplying | 22 | | the value
of taxable property therein, including personal | 23 | | property, as ascertained
by the last assessment for State and | 24 | | county taxes, previous to the incurring
of such indebtedness, | 25 | | by the percentage limitation applicable to such school
district | 26 | | under the provisions of this subsection (a).
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| 1 | | Notwithstanding any other provision of law, if a school | 2 | | district is otherwise eligible for payments under subsection | 3 | | (b) of Section 7703 of Title 20 of the United States Code, then | 4 | | the school district is not subject to the limitations of this | 5 | | Section to the extent necessary to qualify for those payments. | 6 | | (b) Notwithstanding the debt limitation prescribed in | 7 | | subsection (a)
of this Section, additional indebtedness may be | 8 | | incurred in an amount
not to exceed the estimated cost of | 9 | | acquiring or improving school sites
or constructing and | 10 | | equipping additional building facilities under the
following | 11 | | conditions:
| 12 | | (1) Whenever the enrollment of students for the next | 13 | | school year is
estimated by the board of education to | 14 | | increase over the actual present
enrollment by not less | 15 | | than 35% or by not less than 200 students or the
actual | 16 | | present enrollment of students has increased over the | 17 | | previous
school year by not less than 35% or by not less | 18 | | than 200 students and
the board of education determines | 19 | | that additional school sites or
building facilities are | 20 | | required as a result of such increase in
enrollment; and
| 21 | | (2) When the Regional Superintendent of Schools having | 22 | | jurisdiction
over the school district and the State | 23 | | Superintendent of Education
concur in such enrollment | 24 | | projection or increase and approve the need
for such | 25 | | additional school sites or building facilities and the
| 26 | | estimated cost thereof; and
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| 1 | | (3) When the voters in the school district approve a | 2 | | proposition for
the issuance of bonds for the purpose of | 3 | | acquiring or improving such
needed school sites or | 4 | | constructing and equipping such needed additional
building | 5 | | facilities at an election called and held for that purpose.
| 6 | | Notice of such an election shall state that the amount of | 7 | | indebtedness
proposed to be incurred would exceed the debt | 8 | | limitation otherwise
applicable to the school district. | 9 | | The ballot for such proposition
shall state what percentage | 10 | | of the equalized assessed valuation will be
outstanding in | 11 | | bonds if the proposed issuance of bonds is approved by
the | 12 | | voters; or
| 13 | | (4) Notwithstanding the provisions of paragraphs (1) | 14 | | through (3) of
this subsection (b), if the school board | 15 | | determines that additional
facilities are needed to | 16 | | provide a quality educational program and not
less than 2/3 | 17 | | of those voting in an election called by the school board
| 18 | | on the question approve the issuance of bonds for the | 19 | | construction of
such facilities, the school district may | 20 | | issue bonds for this
purpose; or
| 21 | | (5) Notwithstanding the provisions of paragraphs (1) | 22 | | through (3) of this
subsection (b), if (i) the school | 23 | | district has previously availed itself of the
provisions of | 24 | | paragraph (4) of this subsection (b) to enable it to issue | 25 | | bonds,
(ii) the voters of the school district have not | 26 | | defeated a proposition for the
issuance of bonds since the |
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| 1 | | referendum described in paragraph (4) of this
subsection | 2 | | (b) was held, (iii) the school board determines that | 3 | | additional
facilities are needed to provide a quality | 4 | | educational program, and (iv) a
majority of those voting in | 5 | | an election called by the school board on the
question | 6 | | approve the issuance of bonds for the construction of such | 7 | | facilities,
the school district may issue bonds for this | 8 | | purpose.
| 9 | | In no event shall the indebtedness incurred pursuant to | 10 | | this
subsection (b) and the existing indebtedness of the school | 11 | | district
exceed 15% of the value of the taxable property | 12 | | therein to be
ascertained by the last assessment for State and | 13 | | county taxes, previous
to the incurring of such indebtedness | 14 | | or, until January 1, 1983, if greater,
the sum that is produced | 15 | | by multiplying the school district's 1978 equalized
assessed | 16 | | valuation by the debt limitation percentage in effect on | 17 | | January 1,
1979.
| 18 | | The indebtedness provided for by this subsection (b) shall | 19 | | be in
addition to and in excess of any other debt limitation.
| 20 | | (c) Notwithstanding the debt limitation prescribed in | 21 | | subsection (a)
of this Section, in any case in which a public | 22 | | question for the issuance
of bonds of a proposed school | 23 | | district maintaining grades kindergarten
through 12 received | 24 | | at least 60% of the valid ballots cast on the question at
an | 25 | | election held on or prior to November 8, 1994, and in which the | 26 | | bonds
approved at such election have not been issued, the |
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| 1 | | school district pursuant to
the requirements of Section 11A-10 | 2 | | (now repealed) may issue the total amount of bonds approved
at | 3 | | such election for the purpose stated in the question.
| 4 | | (d) Notwithstanding the debt limitation prescribed in | 5 | | subsection (a)
of this Section, a school district that meets | 6 | | all the criteria set forth in
paragraphs (1) and (2) of this | 7 | | subsection (d) may incur an additional
indebtedness in an | 8 | | amount not to exceed $4,500,000, even though the amount of
the | 9 | | additional indebtedness authorized by this subsection (d), | 10 | | when incurred
and added to the aggregate amount of indebtedness | 11 | | of the district existing
immediately prior to the district | 12 | | incurring the additional indebtedness
authorized by this | 13 | | subsection (d), causes the aggregate indebtedness of the
| 14 | | district to exceed the debt limitation otherwise applicable to | 15 | | that district
under subsection (a):
| 16 | | (1) The additional indebtedness authorized by this | 17 | | subsection (d) is
incurred by the school district through | 18 | | the issuance of bonds under and in
accordance with Section | 19 | | 17-2.11a for the purpose of replacing a school
building | 20 | | which, because of mine subsidence damage, has been closed | 21 | | as provided
in paragraph (2) of this subsection (d) or | 22 | | through the issuance of bonds under
and in accordance with | 23 | | Section 19-3 for the purpose of increasing the size of,
or | 24 | | providing for additional functions in, such replacement | 25 | | school buildings, or
both such purposes.
| 26 | | (2) The bonds issued by the school district as provided |
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| 1 | | in paragraph (1)
above are issued for the purposes of | 2 | | construction by the school district of
a new school | 3 | | building pursuant to Section 17-2.11, to replace an | 4 | | existing
school building that, because of mine subsidence | 5 | | damage, is closed as of the
end of the 1992-93 school year | 6 | | pursuant to action of the regional
superintendent of | 7 | | schools of the educational service region in which the
| 8 | | district is located under Section 3-14.22 or are issued for | 9 | | the purpose of
increasing the size of, or providing for | 10 | | additional functions in, the new
school building being | 11 | | constructed to replace a school building closed as the
| 12 | | result of mine subsidence damage, or both such purposes.
| 13 | | (e) (Blank).
| 14 | | (f) Notwithstanding the provisions of subsection (a) of | 15 | | this Section or of
any other law, bonds in not to exceed the | 16 | | aggregate amount of $5,500,000 and
issued by a school district | 17 | | meeting the following criteria shall not be
considered | 18 | | indebtedness for purposes of any statutory limitation and may | 19 | | be
issued in an amount or amounts, including existing | 20 | | indebtedness, in excess of
any heretofore or hereafter imposed | 21 | | statutory limitation as to indebtedness:
| 22 | | (1) At the time of the sale of such bonds, the board of | 23 | | education of the
district shall have determined by | 24 | | resolution that the enrollment of students in
the district | 25 | | is projected to increase by not less than 7% during each of | 26 | | the
next succeeding 2 school years.
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| 1 | | (2) The board of education shall also determine by | 2 | | resolution that the
improvements to be financed with the | 3 | | proceeds of the bonds are needed because
of the projected | 4 | | enrollment increases.
| 5 | | (3) The board of education shall also determine by | 6 | | resolution that the
projected increases in enrollment are | 7 | | the result of improvements made or
expected to be made to | 8 | | passenger rail facilities located in the school
district.
| 9 | | Notwithstanding the provisions of subsection (a) of this | 10 | | Section or of any other law, a school district that has availed | 11 | | itself of the provisions of this subsection (f) prior to July | 12 | | 22, 2004 (the effective date of Public Act 93-799) may also | 13 | | issue bonds approved by referendum up to an amount, including | 14 | | existing indebtedness, not exceeding 25% of the equalized | 15 | | assessed value of the taxable property in the district if all | 16 | | of the conditions set forth in items (1), (2), and (3) of this | 17 | | subsection (f) are met.
| 18 | | (g) Notwithstanding the provisions of subsection (a) of | 19 | | this Section or any
other law, bonds in not to exceed an | 20 | | aggregate amount of 25% of the equalized
assessed value of the | 21 | | taxable property of a school district and issued by a
school | 22 | | district meeting the criteria in paragraphs (i) through (iv) of | 23 | | this
subsection shall not be considered indebtedness for | 24 | | purposes of any statutory
limitation and may be issued pursuant | 25 | | to resolution of the school board in an
amount or amounts, | 26 | | including existing indebtedness, in
excess of any statutory |
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| 1 | | limitation of indebtedness heretofore or hereafter
imposed:
| 2 | | (i) The bonds are issued for the purpose of | 3 | | constructing a new high school
building to replace two | 4 | | adjacent existing buildings which together house a
single | 5 | | high school, each of which is more than 65 years old, and | 6 | | which together
are located on more than 10 acres and less | 7 | | than 11 acres of property.
| 8 | | (ii) At the time the resolution authorizing the | 9 | | issuance of the bonds is
adopted, the cost of constructing | 10 | | a new school building to replace the existing
school | 11 | | building is less than 60% of the cost of repairing the | 12 | | existing school
building.
| 13 | | (iii) The sale of the bonds occurs before July 1, 1997.
| 14 | | (iv) The school district issuing the bonds is a unit | 15 | | school district
located in a county of less than 70,000 and | 16 | | more than 50,000 inhabitants,
which has an average daily | 17 | | attendance of less than 1,500 and an equalized
assessed | 18 | | valuation of less than $29,000,000.
| 19 | | (h) Notwithstanding any other provisions of this Section or | 20 | | the
provisions of any other law, until January 1, 1998, a | 21 | | community unit school
district maintaining grades K through 12 | 22 | | may issue bonds up to an amount,
including existing | 23 | | indebtedness, not exceeding 27.6% of the equalized assessed
| 24 | | value of the taxable property in the district, if all of the | 25 | | following
conditions are met:
| 26 | | (i) The school district has an equalized assessed |
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| 1 | | valuation for calendar
year 1995 of less than $24,000,000;
| 2 | | (ii) The bonds are issued for the capital improvement, | 3 | | renovation,
rehabilitation, or replacement of existing | 4 | | school buildings of the district,
all of which buildings | 5 | | were originally constructed not less than 40 years ago;
| 6 | | (iii) The voters of the district approve a proposition | 7 | | for the issuance of
the bonds at a referendum held after | 8 | | March 19, 1996; and
| 9 | | (iv) The bonds are issued pursuant to Sections 19-2 | 10 | | through 19-7 of this
Code.
| 11 | | (i) Notwithstanding any other provisions of this Section or | 12 | | the provisions
of any other law, until January 1, 1998, a | 13 | | community unit school district
maintaining grades K through 12 | 14 | | may issue bonds up to an amount, including
existing | 15 | | indebtedness, not exceeding 27% of the equalized assessed value | 16 | | of the
taxable property in the district, if all of the | 17 | | following conditions are met:
| 18 | | (i) The school district has an equalized assessed | 19 | | valuation for calendar
year 1995 of less than $44,600,000;
| 20 | | (ii) The bonds are issued for the capital improvement, | 21 | | renovation,
rehabilitation, or replacement
of existing | 22 | | school buildings of the district, all of which
existing | 23 | | buildings were originally constructed not less than 80 | 24 | | years ago;
| 25 | | (iii) The voters of the district approve a proposition | 26 | | for the issuance of
the bonds at a referendum held after |
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| 1 | | December 31, 1996; and
| 2 | | (iv) The bonds are issued pursuant to Sections 19-2 | 3 | | through 19-7 of this
Code.
| 4 | | (j) Notwithstanding any other provisions of this Section or | 5 | | the
provisions of any other law, until January 1, 1999, a | 6 | | community unit school
district maintaining grades K through 12 | 7 | | may issue bonds up to an amount,
including existing | 8 | | indebtedness, not exceeding 27% of the equalized assessed
value | 9 | | of the taxable property in the district if all of the following
| 10 | | conditions are met:
| 11 | | (i) The school district has an equalized assessed | 12 | | valuation for calendar
year 1995 of less than $140,000,000 | 13 | | and a best 3 months
average daily
attendance for the | 14 | | 1995-96 school year of at least 2,800;
| 15 | | (ii) The bonds are issued to purchase a site and build | 16 | | and equip a new
high school, and the school district's | 17 | | existing high school was originally
constructed not less | 18 | | than 35
years prior to the sale of the bonds;
| 19 | | (iii) At the time of the sale of the bonds, the board | 20 | | of education
determines
by resolution that a new high | 21 | | school is needed because of projected enrollment
| 22 | | increases;
| 23 | | (iv) At least 60% of those voting in an election held
| 24 | | after December 31, 1996 approve a proposition
for the | 25 | | issuance of
the bonds; and
| 26 | | (v) The bonds are issued pursuant to Sections 19-2 |
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| 1 | | through
19-7 of this Code.
| 2 | | (k) Notwithstanding the debt limitation prescribed in | 3 | | subsection (a) of
this Section, a school district that meets | 4 | | all the criteria set forth in
paragraphs (1) through (4) of | 5 | | this subsection (k) may issue bonds to incur an
additional | 6 | | indebtedness in an amount not to exceed $4,000,000 even though | 7 | | the
amount of the additional indebtedness authorized by this | 8 | | subsection (k), when
incurred and added to the aggregate amount | 9 | | of indebtedness of the school
district existing immediately | 10 | | prior to the school district incurring such
additional | 11 | | indebtedness, causes the aggregate indebtedness of the school
| 12 | | district to exceed or increases the amount by which the | 13 | | aggregate indebtedness
of the district already exceeds the debt | 14 | | limitation otherwise applicable to
that school district under | 15 | | subsection (a):
| 16 | | (1) the school district is located in 2 counties, and a | 17 | | referendum to
authorize the additional indebtedness was | 18 | | approved by a majority of the voters
of the school district | 19 | | voting on the proposition to authorize that
indebtedness;
| 20 | | (2) the additional indebtedness is for the purpose of | 21 | | financing a
multi-purpose room addition to the existing | 22 | | high school;
| 23 | | (3) the additional indebtedness, together with the | 24 | | existing indebtedness
of the school district, shall not | 25 | | exceed 17.4% of the value of the taxable
property in the | 26 | | school district, to be ascertained by the last assessment |
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| 1 | | for
State and county taxes; and
| 2 | | (4) the bonds evidencing the additional indebtedness | 3 | | are issued, if at
all, within 120 days of August 14, 1998 | 4 | | ( the effective date of Public Act 90-757) this amendatory | 5 | | Act of 1998 .
| 6 | | (l) Notwithstanding any other provisions of this Section or | 7 | | the
provisions of any other law, until January 1, 2000, a | 8 | | school district
maintaining grades kindergarten through 8 may | 9 | | issue bonds up to an amount,
including existing indebtedness, | 10 | | not exceeding 15% of the equalized assessed
value of the | 11 | | taxable property in the district if all of the following
| 12 | | conditions are met:
| 13 | | (i) the district has an equalized assessed valuation | 14 | | for calendar year
1996 of less than $10,000,000;
| 15 | | (ii) the bonds are issued for capital improvement, | 16 | | renovation,
rehabilitation, or replacement of one or more | 17 | | school buildings of the district,
which buildings were | 18 | | originally constructed not less than 70 years ago;
| 19 | | (iii) the voters of the district approve a proposition | 20 | | for the issuance of
the bonds at a referendum held on or | 21 | | after March 17, 1998; and
| 22 | | (iv) the bonds are issued pursuant to Sections 19-2 | 23 | | through 19-7 of this
Code.
| 24 | | (m) Notwithstanding any other provisions of this Section or | 25 | | the provisions
of
any other law, until January 1, 1999, an | 26 | | elementary school district maintaining
grades K through 8 may |
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| 1 | | issue bonds up to an amount, excluding existing
indebtedness, | 2 | | not exceeding 18% of the equalized assessed value of the | 3 | | taxable
property in the district, if all of the following | 4 | | conditions are met:
| 5 | | (i) The school district has an equalized assessed | 6 | | valuation for calendar
year 1995 or less than $7,700,000;
| 7 | | (ii) The school district operates 2 elementary | 8 | | attendance centers that
until
1976 were operated as the | 9 | | attendance centers of 2 separate and distinct school
| 10 | | districts;
| 11 | | (iii) The bonds are issued for the construction of a | 12 | | new elementary school
building to replace an existing | 13 | | multi-level elementary school building of the
school | 14 | | district that is not accessible at all levels and parts of
| 15 | | which were constructed more than 75 years ago;
| 16 | | (iv) The voters of the school district approve a | 17 | | proposition for the
issuance of the bonds at a referendum | 18 | | held after July 1, 1998; and
| 19 | | (v) The bonds are issued pursuant to Sections 19-2 | 20 | | through 19-7 of this
Code.
| 21 | | (n) Notwithstanding the debt limitation prescribed in | 22 | | subsection (a) of
this Section or any other provisions of this | 23 | | Section or of any other law, a
school district that meets all | 24 | | of the criteria set forth in paragraphs (i)
through (vi) of | 25 | | this subsection (n) may incur additional indebtedness by the
| 26 | | issuance of bonds in an amount not exceeding the amount |
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| 1 | | certified by the
Capital Development Board to the school | 2 | | district as provided in paragraph (iii)
of
this subsection (n), | 3 | | even though the amount of the additional indebtedness so
| 4 | | authorized, when incurred and added to the aggregate amount of | 5 | | indebtedness of
the district existing immediately prior to the | 6 | | district incurring the
additional indebtedness authorized by | 7 | | this subsection (n), causes the aggregate
indebtedness of the | 8 | | district to exceed the debt limitation otherwise applicable
by | 9 | | law to that district:
| 10 | | (i) The school district applies to the State Board of | 11 | | Education for a
school construction project grant and | 12 | | submits a district facilities plan in
support
of its | 13 | | application pursuant to Section 5-20 of
the School | 14 | | Construction Law.
| 15 | | (ii) The school district's application and facilities | 16 | | plan are approved
by,
and the district receives a grant | 17 | | entitlement for a school construction project
issued by, | 18 | | the State Board of Education under the School Construction | 19 | | Law.
| 20 | | (iii) The school district has exhausted its bonding | 21 | | capacity or the unused
bonding capacity of the district is | 22 | | less than the amount certified by the
Capital Development | 23 | | Board to the district under Section 5-15 of the School
| 24 | | Construction Law as the dollar amount of the school | 25 | | construction project's cost
that the district will be | 26 | | required to finance with non-grant funds in order to
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| 1 | | receive a school construction project grant under the | 2 | | School Construction Law.
| 3 | | (iv) The bonds are issued for a "school construction | 4 | | project", as that
term is defined in Section 5-5 of the | 5 | | School Construction Law, in an amount
that does not exceed | 6 | | the dollar amount certified, as provided in paragraph
(iii) | 7 | | of this subsection (n), by the Capital Development Board
to | 8 | | the school
district under Section 5-15 of the School | 9 | | Construction Law.
| 10 | | (v) The voters of the district approve a proposition | 11 | | for the issuance of
the bonds at a referendum held after | 12 | | the criteria specified in paragraphs (i)
and (iii) of this | 13 | | subsection (n) are met.
| 14 | | (vi) The bonds are issued pursuant to Sections 19-2 | 15 | | through 19-7 of the
School Code.
| 16 | | (o) Notwithstanding any other provisions of this Section or | 17 | | the
provisions of any other law, until November 1, 2007, a | 18 | | community unit
school district maintaining grades K through 12 | 19 | | may issue bonds up to
an amount, including existing | 20 | | indebtedness, not exceeding 20% of the
equalized assessed value | 21 | | of the taxable property in the district if all of the
following | 22 | | conditions are met:
| 23 | | (i) the school district has an equalized assessed | 24 | | valuation
for calendar year 2001 of at least $737,000,000 | 25 | | and an enrollment
for the 2002-2003 school year of at least | 26 | | 8,500;
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| 1 | | (ii) the bonds are issued to purchase school sites, | 2 | | build and
equip a new high school, build and equip a new | 3 | | junior high school,
build and equip 5 new elementary | 4 | | schools, and make technology
and other improvements and | 5 | | additions to existing schools;
| 6 | | (iii) at the time of the sale of the bonds, the board | 7 | | of
education determines by resolution that the sites and | 8 | | new or
improved facilities are needed because of projected | 9 | | enrollment
increases;
| 10 | | (iv) at least 57% of those voting in a general election | 11 | | held
prior to January 1, 2003 approved a proposition for | 12 | | the issuance of
the bonds; and
| 13 | | (v) the bonds are issued pursuant to Sections 19-2 | 14 | | through
19-7 of this Code.
| 15 | | (p) Notwithstanding any other provisions of this Section or | 16 | | the provisions of any other law, a community unit school | 17 | | district maintaining grades K through 12 may issue bonds up to | 18 | | an amount, including indebtedness, not exceeding 27% of the | 19 | | equalized assessed value of the taxable property in the | 20 | | district if all of the following conditions are met: | 21 | | (i) The school district has an equalized assessed | 22 | | valuation for calendar year 2001 of at least $295,741,187 | 23 | | and a best 3 months' average daily attendance for the | 24 | | 2002-2003 school year of at least 2,394. | 25 | | (ii) The bonds are issued to build and equip 3 | 26 | | elementary school buildings; build and equip one middle |
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| 1 | | school building; and alter, repair, improve, and equip all | 2 | | existing school buildings in the district. | 3 | | (iii) At the time of the sale of the bonds, the board | 4 | | of education determines by resolution that the project is | 5 | | needed because of expanding growth in the school district | 6 | | and a projected enrollment increase. | 7 | | (iv) The bonds are issued pursuant to Sections 19-2 | 8 | | through 19-7 of this Code.
| 9 | | (p-5) Notwithstanding any other provisions of this Section | 10 | | or the provisions of any other law, bonds issued by a community | 11 | | unit school district maintaining grades K through 12 shall not | 12 | | be considered indebtedness for purposes of any statutory | 13 | | limitation and may be issued in an amount or amounts, including | 14 | | existing indebtedness, in excess of any heretofore or hereafter | 15 | | imposed statutory limitation as to indebtedness, if all of the | 16 | | following conditions are met: | 17 | | (i) For each of the 4 most recent years, residential | 18 | | property comprises more than 80% of the equalized assessed | 19 | | valuation of the district. | 20 | | (ii) At least 2 school buildings that were constructed | 21 | | 40 or more years prior to the issuance of the bonds will be | 22 | | demolished and will be replaced by new buildings or | 23 | | additions to one or more existing buildings. | 24 | | (iii) Voters of the district approve a proposition for | 25 | | the issuance of the bonds at a regularly scheduled | 26 | | election. |
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| 1 | | (iv) At the time of the sale of the bonds, the school | 2 | | board determines by resolution that the new buildings or | 3 | | building additions are needed because of an increase in | 4 | | enrollment projected by the school board. | 5 | | (v) The principal amount of the bonds, including | 6 | | existing indebtedness, does not exceed 25% of the equalized | 7 | | assessed value of the taxable property in the district. | 8 | | (vi) The bonds are issued prior to January 1, 2007, | 9 | | pursuant to Sections 19-2 through 19-7 of this Code.
| 10 | | (p-10) Notwithstanding any other provisions of this | 11 | | Section or the provisions of any other law, bonds issued by a | 12 | | community consolidated school district maintaining grades K | 13 | | through 8 shall not be considered indebtedness for purposes of | 14 | | any statutory limitation and may be issued in an amount or | 15 | | amounts, including existing indebtedness, in excess of any | 16 | | heretofore or hereafter imposed statutory limitation as to | 17 | | indebtedness, if all of the following conditions are met: | 18 | | (i) For each of the 4 most recent years, residential | 19 | | and farm property comprises more than 80% of the equalized | 20 | | assessed valuation of the district. | 21 | | (ii) The bond proceeds are to be used to acquire and | 22 | | improve school sites and build and equip a school building. | 23 | | (iii) Voters of the district approve a proposition for | 24 | | the issuance of the bonds at a regularly scheduled | 25 | | election. | 26 | | (iv) At the time of the sale of the bonds, the school |
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| 1 | | board determines by resolution that the school sites and | 2 | | building additions are needed because of an increase in | 3 | | enrollment projected by the school board. | 4 | | (v) The principal amount of the bonds, including | 5 | | existing indebtedness, does not exceed 20% of the equalized | 6 | | assessed value of the taxable property in the district. | 7 | | (vi) The bonds are issued prior to January 1, 2007, | 8 | | pursuant to Sections 19-2 through 19-7 of this Code.
| 9 | | (p-15) In addition to all other authority to issue bonds, | 10 | | the Oswego Community Unit School District Number 308 may issue | 11 | | bonds with an aggregate principal amount not to exceed | 12 | | $450,000,000, but only if all of the following conditions are | 13 | | met: | 14 | | (i) The voters of the district have approved a | 15 | | proposition for the bond issue at the general election held | 16 | | on November 7, 2006. | 17 | | (ii) At the time of the sale of the bonds, the school | 18 | | board determines, by resolution, that: (A) the building and | 19 | | equipping of the new high school building, new junior high | 20 | | school buildings, new elementary school buildings, early | 21 | | childhood building, maintenance building, transportation | 22 | | facility, and additions to existing school buildings, the | 23 | | altering, repairing, equipping, and provision of | 24 | | technology improvements to existing school buildings, and | 25 | | the acquisition and improvement of school sites, as the | 26 | | case may be, are required as a result of a projected |
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| 1 | | increase in the enrollment of students in the district; and | 2 | | (B) the sale of bonds for these purposes is authorized by | 3 | | legislation that exempts the debt incurred on the bonds | 4 | | from the district's statutory debt limitation.
| 5 | | (iii) The bonds are issued, in one or more bond issues, | 6 | | on or before November 7, 2011, but the aggregate principal | 7 | | amount issued in all such bond issues combined must not | 8 | | exceed $450,000,000.
| 9 | | (iv) The bonds are issued in accordance with this | 10 | | Article 19. | 11 | | (v) The proceeds of the bonds are used only to | 12 | | accomplish those projects approved by the voters at the | 13 | | general election held on November 7, 2006. | 14 | | The debt incurred on any bonds issued under this subsection | 15 | | (p-15) shall not be considered indebtedness for purposes of any | 16 | | statutory debt limitation.
| 17 | | (p-20) In addition to all other authority to issue bonds, | 18 | | the Lincoln-Way Community High School District Number 210 may | 19 | | issue bonds with an aggregate principal amount not to exceed | 20 | | $225,000,000, but only if all of the following conditions are | 21 | | met: | 22 | | (i) The voters of the district have approved a | 23 | | proposition for the bond issue at the general primary | 24 | | election held on March 21, 2006. | 25 | | (ii) At the time of the sale of the bonds, the school | 26 | | board determines, by resolution, that: (A) the building and |
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| 1 | | equipping of the new high school buildings, 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 of | 6 | | bonds for these purposes is authorized by legislation 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 issues, | 10 | | on or before March 21, 2011, but the aggregate principal | 11 | | amount issued in all such bond issues combined must not | 12 | | exceed $225,000,000.
| 13 | | (iv) The bonds are issued in accordance with this | 14 | | Article 19. | 15 | | (v) The proceeds of the bonds are used only to | 16 | | accomplish those projects approved by the voters at the | 17 | | primary election held on March 21, 2006. | 18 | | The debt incurred on any bonds issued under this subsection | 19 | | (p-20) shall not be considered indebtedness for purposes of any | 20 | | statutory debt limitation.
| 21 | | (p-25) In addition to all other authority to issue bonds, | 22 | | Rochester Community Unit School District 3A may issue bonds | 23 | | with an aggregate principal amount not to exceed $18,500,000, | 24 | | but 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 the general primary election held |
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| 1 | | in 2008.
| 2 | | (ii) At the time of the sale of the bonds, the school | 3 | | board determines, by resolution, that: (A) the building and | 4 | | equipping of a new high school building; the addition of | 5 | | classrooms and support facilities at the high school, | 6 | | middle school, and elementary school; the altering, | 7 | | repairing, and equipping of existing school buildings; and | 8 | | the improvement of school sites, as the case may be, are | 9 | | required as a result of a projected increase in the | 10 | | enrollment of students in the district; and (B) the sale of | 11 | | bonds for these purposes is authorized by a law that | 12 | | exempts the debt incurred on the bonds from the district's | 13 | | statutory debt limitation. | 14 | | (iii) The bonds are issued, in one or more bond issues, | 15 | | on or before December 31, 2012, but the aggregate principal | 16 | | amount issued in all such bond issues combined must not | 17 | | exceed $18,500,000. | 18 | | (iv) The bonds are issued in accordance with this | 19 | | Article 19. | 20 | | (v) The proceeds of the bonds are used to accomplish | 21 | | only those projects approved by the voters at the primary | 22 | | election held in 2008.
| 23 | | The debt incurred on any bonds issued under this subsection | 24 | | (p-25) shall not be considered indebtedness for purposes of any | 25 | | statutory debt limitation.
| 26 | | (p-30) In addition to all other authority to issue bonds, |
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| 1 | | Prairie Grove Consolidated School District 46 may issue bonds | 2 | | with an aggregate principal amount not to exceed $30,000,000, | 3 | | but only if all of the following conditions are met:
| 4 | | (i) The voters of the district approve a proposition | 5 | | for the bond issuance at an election held in 2008.
| 6 | | (ii) At the time of the sale of the bonds, the school | 7 | | board determines, by resolution, that (A) the building and | 8 | | equipping of a new school building and additions to | 9 | | existing school buildings are required as a result of a | 10 | | projected increase in the enrollment of students in the | 11 | | district and (B) the altering, repairing, and equipping of | 12 | | existing school buildings are required because of the age | 13 | | of the existing school buildings.
| 14 | | (iii) The bonds are issued, in one or more bond | 15 | | issuances, on or before December 31, 2012; however, the | 16 | | aggregate principal amount issued in all such bond | 17 | | issuances combined must not exceed $30,000,000.
| 18 | | (iv) The bonds are issued in accordance with this | 19 | | Article.
| 20 | | (v) The proceeds of the bonds are used to accomplish | 21 | | only those projects approved by the voters at an election | 22 | | held in 2008.
| 23 | | The debt incurred on any bonds issued under this subsection | 24 | | (p-30) shall not be considered indebtedness for purposes of any | 25 | | statutory debt limitation.
| 26 | | (p-35) In addition to all other authority to issue bonds, |
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| 1 | | Prairie Hill Community Consolidated School District 133 may | 2 | | issue bonds with an aggregate principal amount not to exceed | 3 | | $13,900,000, but only if all of the following conditions are | 4 | | met:
| 5 | | (i) The voters of the district approved a proposition | 6 | | for the bond issuance at an election held on April 17, | 7 | | 2007.
| 8 | | (ii) At the time of the sale of the bonds, the school | 9 | | board determines, by resolution, that (A) the improvement | 10 | | of the site of and the building and equipping of a school | 11 | | building are required as a result of a projected increase | 12 | | in the enrollment of students in the district and (B) the | 13 | | repairing and equipping of the Prairie Hill Elementary | 14 | | School building is required because of the age of that | 15 | | school building.
| 16 | | (iii) The bonds are issued, in one or more bond | 17 | | issuances, on or before December 31, 2011, but the | 18 | | aggregate principal amount issued in all such bond | 19 | | issuances combined must not exceed $13,900,000.
| 20 | | (iv) The bonds are issued in accordance with this | 21 | | Article.
| 22 | | (v) The proceeds of the bonds are used to accomplish | 23 | | only those projects approved by the voters at an election | 24 | | held on April 17, 2007.
| 25 | | The debt incurred on any bonds issued under this subsection | 26 | | (p-35) shall not be considered indebtedness for purposes of any |
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| 1 | | statutory debt limitation.
| 2 | | (p-40) In addition to all other authority to issue bonds, | 3 | | Mascoutah Community Unit District 19 may issue bonds with an | 4 | | aggregate principal amount not to exceed $55,000,000, but only | 5 | | if all of the following conditions are met: | 6 | | (1) The voters of the district approve a proposition | 7 | | for the bond issuance at a regular election held on or | 8 | | after November 4, 2008. | 9 | | (2) At the time of the sale of the bonds, the school | 10 | | board determines, by resolution, that (i) the building and | 11 | | equipping of a new high school building is required as a | 12 | | result of a projected increase in the enrollment of | 13 | | students in the district and the age and condition of the | 14 | | existing high school building, (ii) the existing high | 15 | | school building will be demolished, and (iii) the sale of | 16 | | bonds is authorized by statute that exempts the debt | 17 | | incurred on the bonds from the district's statutory debt | 18 | | limitation. | 19 | | (3) The bonds are issued, in one or more bond | 20 | | issuances, on or before December 31, 2011, but the | 21 | | aggregate principal amount issued in all such bond | 22 | | issuances combined must not exceed $55,000,000. | 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 a regular |
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| 1 | | election held on or after November 4, 2008. | 2 | | The debt incurred on any bonds issued under this subsection | 3 | | (p-40) shall not be considered indebtedness for purposes of any | 4 | | statutory debt limitation. | 5 | | (p-45) Notwithstanding the provisions of subsection (a) of | 6 | | this Section or of any other law, bonds issued pursuant to | 7 | | Section 19-3.5 of this Code shall not be considered | 8 | | indebtedness for purposes of any statutory limitation if the | 9 | | bonds are issued in an amount or amounts, including existing | 10 | | indebtedness of the school district, not in excess of 18.5% of | 11 | | the value of the taxable property in the district to be | 12 | | ascertained by the last assessment for State and county taxes. | 13 | | (p-50) Notwithstanding the provisions of subsection (a) of
| 14 | | this Section or of any other law, bonds issued pursuant to
| 15 | | Section 19-3.10 of this Code shall not be considered
| 16 | | indebtedness for purposes of any statutory limitation if the
| 17 | | bonds are issued in an amount or amounts, including existing
| 18 | | indebtedness of the school district, not in excess of 43% of
| 19 | | the value of the taxable property in the district to be
| 20 | | ascertained by the last assessment for State and county taxes. | 21 | | (p-55) In addition to all other authority to issue bonds, | 22 | | Belle Valley School District 119 may issue bonds with an | 23 | | aggregate principal amount not to exceed $47,500,000, but only | 24 | | if all of 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 April |
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| 1 | | 7, 2009. | 2 | | (2) Prior to the issuance of the bonds, the school | 3 | | board determines, by resolution, that (i) the building and | 4 | | equipping of a new school building is required as a result | 5 | | of mine subsidence in an existing school building and | 6 | | because of the age and condition of another existing school | 7 | | building and (ii) the issuance of bonds is authorized by | 8 | | statute that exempts the debt incurred on the bonds from | 9 | | the district's statutory debt limitation. | 10 | | (3) The bonds are issued, in one or more bond | 11 | | issuances, on or before March 31, 2014, but the aggregate | 12 | | principal amount issued in all such bond issuances combined | 13 | | must not exceed $47,500,000. | 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 April 7, 2009. | 19 | | The debt incurred on any bonds issued under this subsection | 20 | | (p-55) shall not be considered indebtedness for purposes of any | 21 | | statutory debt limitation. Bonds issued under this subsection | 22 | | (p-55) must mature within not to exceed 30 years from their | 23 | | date, notwithstanding any other law to the contrary. | 24 | | (p-60) In addition to all other authority to issue bonds, | 25 | | Wilmington Community Unit School District Number 209-U may | 26 | | issue bonds with an aggregate principal amount not to exceed |
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| 1 | | $2,285,000, but only if all of the following conditions are | 2 | | met: | 3 | | (1) 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 21, 2006. | 6 | | (2) Prior to the issuance of the bonds, the school | 7 | | board determines, by resolution, that (i) the projects | 8 | | approved by the voters were and are required because of the | 9 | | age and condition of the school district's prior and | 10 | | existing school buildings and (ii) the issuance of the | 11 | | bonds is authorized by legislation 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 issuances | 15 | | on or before March 1, 2011, but the aggregate principal | 16 | | amount issued in all those bond issuances combined must not | 17 | | exceed $2,285,000. | 18 | | (4) The bonds are issued in accordance with this | 19 | | Article. | 20 | | The debt incurred on any bonds issued under this subsection | 21 | | (p-60) shall not be considered indebtedness for purposes of any | 22 | | statutory debt limitation. | 23 | | (p-65) In addition to all other authority to issue bonds, | 24 | | West Washington County Community Unit School District 10 may | 25 | | issue bonds with an aggregate principal amount not to exceed | 26 | | $32,200,000 and maturing over a period not exceeding 25 years, |
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| 1 | | but only if all of the following conditions are met: | 2 | | (1) The voters of the district approve a proposition | 3 | | for the bond issuance at an election held on or after | 4 | | February 2, 2010. | 5 | | (2) Prior to the issuance of the bonds, the school | 6 | | board determines, by resolution, that (A) all or a portion | 7 | | of the existing Okawville Junior/Senior High School | 8 | | Building will be demolished; (B) the building and equipping | 9 | | of a new school building to be attached to and the | 10 | | alteration, repair, and equipping of the remaining portion | 11 | | of the Okawville Junior/Senior High School Building is | 12 | | required because of the age and current condition of that | 13 | | school building; and (C) the issuance of bonds is | 14 | | authorized by a statute that exempts the debt incurred on | 15 | | the bonds from the district's statutory debt limitation. | 16 | | (3) The bonds are issued, in one or more bond | 17 | | issuances, on or before March 31, 2014, but the aggregate | 18 | | principal amount issued in all such bond issuances combined | 19 | | must not exceed $32,200,000. | 20 | | (4) The bonds are issued in accordance with this | 21 | | Article. | 22 | | (5) The proceeds of the bonds are used to accomplish | 23 | | only those projects approved by the voters at an election | 24 | | held on or after February 2, 2010. | 25 | | The debt incurred on any bonds issued under this subsection | 26 | | (p-65) shall not be considered indebtedness for purposes of any |
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| 1 | | statutory debt limitation. | 2 | | (p-70) In addition to all other authority to issue bonds, | 3 | | Cahokia Community Unit School District 187 may issue bonds with | 4 | | an aggregate principal amount not to exceed $50,000,000, but | 5 | | only if all 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 | 8 | | November 2, 2010. | 9 | | (2) Prior to the issuance of the bonds, the school | 10 | | board determines, by resolution, that (i) the building and | 11 | | equipping of a new school building is required as a result | 12 | | of the age and condition of an existing school building and | 13 | | (ii) the issuance of bonds is authorized by a statute that | 14 | | exempts the debt incurred on the bonds from the district's | 15 | | statutory debt limitation. | 16 | | (3) The bonds are issued, in one or more issuances, on | 17 | | or before July 1, 2016, but the aggregate principal amount | 18 | | issued in all such bond issuances combined must not exceed | 19 | | $50,000,000. | 20 | | (4) The bonds are issued in accordance with this | 21 | | Article. | 22 | | (5) The proceeds of the bonds are used to accomplish | 23 | | only those projects approved by the voters at an election | 24 | | held on or after November 2, 2010. | 25 | | The debt incurred on any bonds issued under this subsection | 26 | | (p-70) shall not be considered indebtedness for purposes of any |
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| 1 | | statutory debt limitation. Bonds issued under this subsection | 2 | | (p-70) must mature within not to exceed 25 years from their | 3 | | date, notwithstanding any other law, including Section 19-3 of | 4 | | this Code, to the contrary. | 5 | | (p-75) Notwithstanding the debt limitation prescribed in | 6 | | subsection (a) of this Section
or any other provisions of this | 7 | | Section or of any other law, the execution of leases on or
| 8 | | after January 1, 2007 and before July 1, 2011 by the Board of | 9 | | Education of Peoria School District 150 with a public building | 10 | | commission for leases entered into pursuant to the Public
| 11 | | Building Commission Act shall not be considered indebtedness | 12 | | for purposes of any
statutory debt limitation. | 13 | | This subsection (p-75) applies only if the State Board of | 14 | | Education or the Capital Development Board makes one or more | 15 | | grants to Peoria School District 150 pursuant to the School | 16 | | Construction Law. The amount exempted from the debt limitation | 17 | | as prescribed in this subsection (p-75) shall be no greater | 18 | | than the amount of one or more grants awarded to Peoria School | 19 | | District 150 by the State Board of Education or the Capital | 20 | | Development Board. | 21 | | (p-80) In addition to all other authority to issue bonds, | 22 | | Ridgeland School District 122 may issue bonds with an aggregate | 23 | | principal amount not to exceed $50,000,000 for the purpose of | 24 | | refunding or continuing to refund bonds originally issued | 25 | | pursuant to voter approval at the general election held on | 26 | | November 7, 2000, and the debt incurred on any bonds issued |
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| 1 | | under this subsection (p-80) shall not be considered | 2 | | indebtedness for purposes of any statutory debt limitation. | 3 | | Bonds issued under this subsection (p-80) may be issued in one | 4 | | or more issuances and must mature within not to exceed 25 years | 5 | | from their date, notwithstanding any other law, including | 6 | | Section 19-3 of this Code, to the contrary. | 7 | | (p-85) In addition to all other authority to issue bonds, | 8 | | Hall High School District 502 may issue bonds with an aggregate | 9 | | principal amount not to exceed $32,000,000, but only if all the | 10 | | 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 | | 9, 2013. | 14 | | (2) Prior to the issuance of the bonds, the school
| 15 | | board determines, by resolution, that (i) the building and | 16 | | equipping of a new school building is required as a result | 17 | | of the age and condition of an existing school building, | 18 | | (ii) the existing school building should be demolished in | 19 | | its entirety or the existing school building should be | 20 | | demolished except for the 1914 west wing of the building, | 21 | | and (iii) the issuance of bonds is authorized by a statute | 22 | | that exempts the debt incurred on the bonds from the | 23 | | district's statutory debt limitation. | 24 | | (3) The bonds are issued, in one or more issuances, not | 25 | | later than 5 years after the date of the referendum | 26 | | approving the issuance of the bonds, but the aggregate |
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| 1 | | principal amount issued in all such bond issuances combined | 2 | | must not exceed $32,000,000. | 3 | | (4) The bonds are issued in accordance with this
| 4 | | Article. | 5 | | (5) The proceeds of the bonds are used to accomplish
| 6 | | only those projects approved by the voters at an election | 7 | | held on or after April 9, 2013. | 8 | | The debt incurred on any bonds issued under this subsection | 9 | | (p-85) shall not be considered indebtedness for purposes of any | 10 | | statutory debt limitation. Bonds issued under this subsection | 11 | | (p-85) must mature within not to exceed 30 years from their | 12 | | date, notwithstanding any other law, including Section 19-3 of | 13 | | this Code, to the contrary. | 14 | | (p-90) In addition to all other authority to issue bonds, | 15 | | Lebanon Community Unit School District 9 may issue bonds with | 16 | | an aggregate principal amount not to exceed $7,500,000, but | 17 | | only if all of the following conditions are met: | 18 | | (1) The voters of the district approved a proposition | 19 | | for the bond issuance at the general primary election on | 20 | | February 2, 2010. | 21 | | (2) At or prior to the time of the sale of the bonds, | 22 | | the school board determines, by resolution, that (i) the | 23 | | building and equipping of a new elementary school building | 24 | | is required as a result of a projected increase in the | 25 | | enrollment of students in the district and the age and | 26 | | condition of the existing Lebanon Elementary School |
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| 1 | | building, (ii) a portion of the existing Lebanon Elementary | 2 | | School building will be demolished and the remaining | 3 | | portion will be altered, repaired, and equipped, and (iii) | 4 | | the sale of bonds is authorized by a statute that exempts | 5 | | the debt incurred on the bonds from the district's | 6 | | statutory debt limitation. | 7 | | (3) The bonds are issued, in one or more bond | 8 | | issuances, on or before April 1, 2014, but the aggregate | 9 | | principal amount issued in all such bond issuances combined | 10 | | must not exceed $7,500,000. | 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 the general | 15 | | primary election held on February 2, 2010. | 16 | | The debt incurred on any bonds issued under this subsection | 17 | | (p-90) shall not be considered indebtedness for purposes of any | 18 | | statutory debt limitation. | 19 | | (p-95) In addition to all other authority to issue bonds, | 20 | | Monticello Community Unit School District 25 may issue bonds | 21 | | with an aggregate principal amount not to exceed $35,000,000, | 22 | | but only if all of the following 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 | 25 | | November 4, 2014. | 26 | | (2) Prior to the issuance of the bonds, the school |
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| 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 and | 4 | | (ii) the issuance of bonds is authorized by a statute that | 5 | | exempts the debt incurred on the bonds from the district's | 6 | | statutory debt limitation. | 7 | | (3) The bonds are issued, in one or more issuances, on | 8 | | or before July 1, 2020, but the aggregate principal amount | 9 | | issued in all such bond issuances combined must not exceed | 10 | | $35,000,000. | 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 November 4, 2014. | 16 | | The debt incurred on any bonds issued under this subsection | 17 | | (p-95) shall not be considered indebtedness for purposes of any | 18 | | statutory debt limitation. Bonds issued under this subsection | 19 | | (p-95) must mature within not to exceed 25 years from their | 20 | | date, notwithstanding any other law, including Section 19-3 of | 21 | | this Code, to the contrary. | 22 | | (p-100) In addition to all other authority to issue bonds, | 23 | | the community unit school district created in the territory | 24 | | comprising Milford Community Consolidated School District 280 | 25 | | and Milford Township High School District 233, as approved at | 26 | | the general primary election held on March 18, 2014, may issue |
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| 1 | | bonds with an aggregate principal amount not to exceed | 2 | | $17,500,000, but 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 4, 2014. | 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 and | 10 | | (ii) 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, on | 14 | | or before July 1, 2020, but the aggregate principal amount | 15 | | issued in all such bond issuances combined must not exceed | 16 | | $17,500,000. | 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 4, 2014. | 22 | | The debt incurred on any bonds issued under this subsection | 23 | | (p-100) shall not be considered indebtedness for purposes of | 24 | | any statutory debt limitation. Bonds issued under this | 25 | | subsection (p-100) must mature within not to exceed 25 years | 26 | | from their date, notwithstanding any other law, including |
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| 1 | | Section 19-3 of this Code, to the contrary. | 2 | | (p-105) In addition to all other authority to issue bonds, | 3 | | North Shore School District 112 may issue bonds with an | 4 | | aggregate principal amount not to exceed $150,000,000, but only | 5 | | if all of the following conditions are met: | 6 | | (1) The voters of the district approve a proposition | 7 | | for the bond issuance at an election held on or after March | 8 | | 15, 2016. | 9 | | (2) Prior to the issuance of the bonds, the school | 10 | | board determines, by resolution, that (i) the building and | 11 | | equipping of new buildings and improving the sites thereof | 12 | | and the building and equipping of additions to, altering, | 13 | | repairing, equipping, and renovating existing buildings | 14 | | and improving the sites thereof are required as a result of | 15 | | the age and condition of the district's existing buildings | 16 | | and (ii) the issuance of bonds is authorized by a statute | 17 | | that exempts the debt incurred on the bonds from the | 18 | | district's statutory debt limitation. | 19 | | (3) The bonds are issued, in one or more issuances, not | 20 | | later than 5 years after the date of the referendum | 21 | | approving the issuance of the bonds, but the aggregate | 22 | | principal amount issued in all such bond issuances combined | 23 | | must not exceed $150,000,000. | 24 | | (4) The bonds are issued in accordance with this | 25 | | Article. | 26 | | (5) The proceeds of the bonds are used to accomplish |
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| 1 | | only those projects approved by the voters at an election | 2 | | held on or after March 15, 2016. | 3 | | The debt incurred on any bonds issued under this subsection | 4 | | (p-105) and on any bonds issued to refund or continue to refund | 5 | | such bonds shall not be considered indebtedness for purposes of | 6 | | any statutory debt limitation. Bonds issued under this | 7 | | subsection (p-105) and any bonds issued to refund or continue | 8 | | to refund such bonds must mature within not to exceed 30 years | 9 | | from their date, notwithstanding any other law, including | 10 | | Section 19-3 of this Code, to the contrary. | 11 | | (p-110) In addition to all other authority to issue bonds, | 12 | | Sandoval Community Unit School District 501 may issue bonds | 13 | | with an aggregate principal amount not to exceed $2,000,000, | 14 | | but only if all of the following conditions are met: | 15 | | (1) The voters of the district approved a proposition | 16 | | for the bond issuance at an election held on March 20, | 17 | | 2012. | 18 | | (2) Prior to the issuance of the bonds, the school | 19 | | board determines, by resolution, that (i) the building and | 20 | | equipping of a new school building is required because of | 21 | | the age and current condition of the Sandoval Elementary | 22 | | School building and (ii) the issuance of bonds is | 23 | | authorized by a statute that exempts the debt incurred on | 24 | | the bonds from the district's statutory debt limitation. | 25 | | (3) The bonds are issued, in one or more bond | 26 | | issuances, on or before March 19, 2017, but the aggregate |
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| 1 | | principal amount issued in all such bond issuances combined | 2 | | must not exceed $2,000,000. | 3 | | (4) The bonds are issued in accordance with this | 4 | | Article. | 5 | | (5) The proceeds of the bonds are used to accomplish | 6 | | only those projects approved by the voters at the election | 7 | | held on March 20, 2012. | 8 | | The debt incurred on any bonds issued under this subsection | 9 | | (p-110) shall not be considered indebtedness for purposes of | 10 | | any statutory debt limitation. | 11 | | (q) A school district must notify the State Board of | 12 | | Education prior to issuing any form of long-term or short-term | 13 | | debt that will result in outstanding debt that exceeds 75% of | 14 | | the debt limit specified in this Section or any other provision | 15 | | of law.
| 16 | | (Source: P.A. 98-617, eff. 1-7-14; 98-912, eff. 8-15-14; | 17 | | 98-916, eff. 8-15-14; 99-78, eff. 7-20-15; 99-143, eff. | 18 | | 7-27-15; 99-390, eff. 8-18-15; revised 10-13-15.)".
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