Illinois General Assembly - Illinois Compiled Statutes

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105 ILCS 230/5-20

(105 ILCS 230/5-20)

Sec. 5-20. Grant application; district facilities plan.

School districts
shall apply to the State Board of Education for school construction project
grants.  Districts filing grant applications shall
submit to the State Board a district facilities plan that shall include,
but not be limited to, an assessment of present and future district facility
needs as required by present and anticipated educational programming, the
availability of local financial resources
including current revenues, fund balances, and unused bonding capacity, a
fiscal plan for meeting present and anticipated debt service obligations, and a
maintenance plan and schedule that contain necessary assurances that new,
renovated, and existing facilities are being or will be properly maintained.
If a district that applies for a school construction project grant has no
unused bonding capacity or if its unused bonding capacity may be less than the
portion of the cost of the proposed school construction project that the
district would be required to finance with non-grant funds, the amount certified by the Capital Development Board under Section 5-15 shall set forth the estimated amount
of the project's cost that the district proposes to finance by the issuance of
bonds under subsection (n) of Section 19-1 of the School Code.
The State Board of Education shall review and approve district facilities plans
prior to prioritizing the applications.

(Source: P.A. 102-723, eff. 5-6-22.)