(30 ILCS 330/5) (from Ch. 127, par. 655)
Sec. 5. School construction.
(a) The amount of $58,450,000 is authorized to
make grants to local school
districts for the acquisition, development, construction, reconstruction,
rehabilitation, improvement, financing, architectural planning and
installation of capital facilities, including but not limited to those
required for special
education building projects provided for in Article 14 of The School Code,
consisting of buildings, structures, and durable equipment, and for the
acquisition and improvement of real property and interests in real property
required, or expected to be required, in connection therewith.
(b) $22,550,000, or so much thereof as may be necessary, for grants to
school districts for the making of principal and interest payments, required
to be made, on bonds issued by such school districts after January 1, 1969,
pursuant to any indenture, ordinance, resolution, agreement or contract
to provide funds for the acquisition, development, construction,
reconstruction, rehabilitation, improvement, architectural planning and installation of
capital facilities consisting of buildings, structures, durable equipment
and land for educational purposes or for lease payments required to be made
by a school district for principal and interest payments on bonds issued
by a Public Building Commission after January 1, 1969.
(c) $10,000,000 for grants to school districts for the acquisition,
development, construction, reconstruction, rehabilitation, improvement,
architectural
planning and installation of capital facilities consisting of buildings
structures, durable equipment and land for special education building projects.
(d) $9,000,000 for grants to school districts for the reconstruction,
rehabilitation, improvement, financing and architectural planning of capital
facilities, including construction at another location to replace such capital
facilities, consisting of those public school buildings and temporary school
facilities which, prior to January 1, 1984, were condemned by the regional
superintendent under Section 3-14.22 of The School Code or by any State
official having jurisdiction over building safety.
(e) $3,109,403,700 for grants to school districts for
school improvement
projects authorized by the School Construction Law. The bonds shall be sold in
amounts not to exceed the following schedule, except any bonds not sold during
one year shall be added to the bonds to be sold during the remainder of the
schedule:
First year................................$200,000,000
Second year...............................$450,000,000
Third year................................$500,000,000
Fourth year...............................$500,000,000
Fifth year................................$800,000,000
Sixth year and thereafter.................$659,403,700
(f) $1,615,000,000 grants to school districts for school implemented projects authorized by the School Construction Law. (Source: P.A. 100-587, eff. 6-4-18; 101-30, eff. 6-28-19.)
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