Illinois House Bill HB2492 Introduced / Bill

                    103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2492 Introduced , by Rep. Ann M. Williams SYNOPSIS AS INTRODUCED:  35 ILCS 200/18-185 105 ILCS 5/19-1 105 ILCS 5/19b-5.5 new 105 ILCS 5/19b-6 from Ch. 122, par. 19b-6    Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.  LRB103 26244 RJT 52604 b   A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2492 Introduced , by Rep. Ann M. Williams SYNOPSIS AS INTRODUCED:  35 ILCS 200/18-185 105 ILCS 5/19-1 105 ILCS 5/19b-5.5 new 105 ILCS 5/19b-6 from Ch. 122, par. 19b-6 35 ILCS 200/18-185  105 ILCS 5/19-1  105 ILCS 5/19b-5.5 new  105 ILCS 5/19b-6 from Ch. 122, par. 19b-6 Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.  LRB103 26244 RJT 52604 b     LRB103 26244 RJT 52604 b   A BILL FOR
103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2492 Introduced , by Rep. Ann M. Williams SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-185 105 ILCS 5/19-1 105 ILCS 5/19b-5.5 new 105 ILCS 5/19b-6 from Ch. 122, par. 19b-6 35 ILCS 200/18-185  105 ILCS 5/19-1  105 ILCS 5/19b-5.5 new  105 ILCS 5/19b-6 from Ch. 122, par. 19b-6
35 ILCS 200/18-185
105 ILCS 5/19-1
105 ILCS 5/19b-5.5 new
105 ILCS 5/19b-6 from Ch. 122, par. 19b-6
Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.
LRB103 26244 RJT 52604 b     LRB103 26244 RJT 52604 b
    LRB103 26244 RJT 52604 b
A BILL FOR
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  HB2492  LRB103 26244 RJT 52604 b
1  AN ACT concerning education.
2  Be it enacted by the People of the State of Illinois,
3  represented in the General Assembly:
4  Section 5. The Property Tax Code is amended by changing
5  Section 18-185 as follows:
6  (35 ILCS 200/18-185)
7  Sec. 18-185. Short title; definitions.  This Division 5
8  may be cited as the Property Tax Extension Limitation Law. As
9  used in this Division 5:
10  "Consumer Price Index" means the Consumer Price Index for
11  All Urban Consumers for all items published by the United
12  States Department of Labor.
13  "Extension limitation" means (a) the lesser of 5% or the
14  percentage increase in the Consumer Price Index during the
15  12-month calendar year preceding the levy year or (b) the rate
16  of increase approved by voters under Section 18-205.
17  "Affected county" means a county of 3,000,000 or more
18  inhabitants or a county contiguous to a county of 3,000,000 or
19  more inhabitants.
20  "Taxing district" has the same meaning provided in Section
21  1-150, except as otherwise provided in this Section. For the
22  1991 through 1994 levy years only, "taxing district" includes
23  only each non-home rule taxing district having the majority of

 

103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2492 Introduced , by Rep. Ann M. Williams SYNOPSIS AS INTRODUCED:
35 ILCS 200/18-185 105 ILCS 5/19-1 105 ILCS 5/19b-5.5 new 105 ILCS 5/19b-6 from Ch. 122, par. 19b-6 35 ILCS 200/18-185  105 ILCS 5/19-1  105 ILCS 5/19b-5.5 new  105 ILCS 5/19b-6 from Ch. 122, par. 19b-6
35 ILCS 200/18-185
105 ILCS 5/19-1
105 ILCS 5/19b-5.5 new
105 ILCS 5/19b-6 from Ch. 122, par. 19b-6
Amends the Property Tax Code. In provisions concerning the Property Tax Extension Limitation Law, provides that "aggregate extension" excludes special purpose extensions made for the repayment of bonds or certificates issued to finance guaranteed energy savings contracts under the School Code. Amends the School Code. Provides that a school district may issue bonds or certificates to finance guaranteed energy savings contracts and any bonds or certificates so issued shall not be considered indebtedness for purposes of any statutory limitation and may be issued in an amount or amounts, including existing indebtedness, in excess of any heretofore or hereafter imposed statutory limitation as to indebtedness. In the Article concerning school energy conservation and saving measures, removes the requirement that the Section of the School Code concerning a school board's power to build or purchase a building for school classroom or instructional purposes upon the approval of a majority of the voters upon the proposition at a referendum applies to the Article. Allows the school board of any school district having a population of less than 500,000 inhabitants to incur indebtedness and issue bonds in an amount not exceeding the aggregate cost of all expenditures reasonably expected to be incurred pursuant to a guaranteed energy savings contract.
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    LRB103 26244 RJT 52604 b
A BILL FOR

 

 

35 ILCS 200/18-185
105 ILCS 5/19-1
105 ILCS 5/19b-5.5 new
105 ILCS 5/19b-6 from Ch. 122, par. 19b-6



    LRB103 26244 RJT 52604 b

 

 



 

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1  its 1990 equalized assessed value within any county or
2  counties contiguous to a county with 3,000,000 or more
3  inhabitants. Beginning with the 1995 levy year, "taxing
4  district" includes only each non-home rule taxing district
5  subject to this Law before the 1995 levy year and each non-home
6  rule taxing district not subject to this Law before the 1995
7  levy year having the majority of its 1994 equalized assessed
8  value in an affected county or counties. Beginning with the
9  levy year in which this Law becomes applicable to a taxing
10  district as provided in Section 18-213, "taxing district" also
11  includes those taxing districts made subject to this Law as
12  provided in Section 18-213.
13  "Aggregate extension" for taxing districts to which this
14  Law applied before the 1995 levy year means the annual
15  corporate extension for the taxing district and those special
16  purpose extensions that are made annually for the taxing
17  district, excluding special purpose extensions: (a) made for
18  the taxing district to pay interest or principal on general
19  obligation bonds that were approved by referendum; (b) made
20  for any taxing district to pay interest or principal on
21  general obligation bonds issued before October 1, 1991; (c)
22  made for any taxing district to pay interest or principal on
23  bonds issued to refund or continue to refund those bonds
24  issued before October 1, 1991; (d) made for any taxing
25  district to pay interest or principal on bonds issued to
26  refund or continue to refund bonds issued after October 1,

 

 

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1  1991 that were approved by referendum; (e) made for any taxing
2  district to pay interest or principal on revenue bonds issued
3  before October 1, 1991 for payment of which a property tax levy
4  or the full faith and credit of the unit of local government is
5  pledged; however, a tax for the payment of interest or
6  principal on those bonds shall be made only after the
7  governing body of the unit of local government finds that all
8  other sources for payment are insufficient to make those
9  payments; (f) made for payments under a building commission
10  lease when the lease payments are for the retirement of bonds
11  issued by the commission before October 1, 1991, to pay for the
12  building project; (g) made for payments due under installment
13  contracts entered into before October 1, 1991; (h) made for
14  payments of principal and interest on bonds issued under the
15  Metropolitan Water Reclamation District Act to finance
16  construction projects initiated before October 1, 1991; (i)
17  made for payments of principal and interest on limited bonds,
18  as defined in Section 3 of the Local Government Debt Reform
19  Act, in an amount not to exceed the debt service extension base
20  less the amount in items (b), (c), (e), and (h) of this
21  definition for non-referendum obligations, except obligations
22  initially issued pursuant to referendum; (j) made for payments
23  of principal and interest on bonds issued under Section 15 of
24  the Local Government Debt Reform Act; (k) made by a school
25  district that participates in the Special Education District
26  of Lake County, created by special education joint agreement

 

 

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1  under Section 10-22.31 of the School Code, for payment of the
2  school district's share of the amounts required to be
3  contributed by the Special Education District of Lake County
4  to the Illinois Municipal Retirement Fund under Article 7 of
5  the Illinois Pension Code; the amount of any extension under
6  this item (k) shall be certified by the school district to the
7  county clerk; (l) made to fund expenses of providing joint
8  recreational programs for persons with disabilities under
9  Section 5-8 of the Park District Code or Section 11-95-14 of
10  the Illinois Municipal Code; (m) made for temporary relocation
11  loan repayment purposes pursuant to Sections 2-3.77 and
12  17-2.2d of the School Code; (n) made for payment of principal
13  and interest on any bonds issued under the authority of
14  Section 17-2.2d of the School Code; (o) made for contributions
15  to a firefighter's pension fund created under Article 4 of the
16  Illinois Pension Code, to the extent of the amount certified
17  under item (5) of Section 4-134 of the Illinois Pension Code;
18  and (p) made for road purposes in the first year after a
19  township assumes the rights, powers, duties, assets, property,
20  liabilities, obligations, and responsibilities of a road
21  district abolished under the provisions of Section 6-133 of
22  the Illinois Highway Code; and (q) made for the repayment of
23  bonds or certificates issued to finance guaranteed energy
24  savings contracts under Article 19b of the School Code.
25  "Aggregate extension" for the taxing districts to which
26  this Law did not apply before the 1995 levy year (except taxing

 

 

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1  districts subject to this Law in accordance with Section
2  18-213) means the annual corporate extension for the taxing
3  district and those special purpose extensions that are made
4  annually for the taxing district, excluding special purpose
5  extensions: (a) made for the taxing district to pay interest
6  or principal on general obligation bonds that were approved by
7  referendum; (b) made for any taxing district to pay interest
8  or principal on general obligation bonds issued before March
9  1, 1995; (c) made for any taxing district to pay interest or
10  principal on bonds issued to refund or continue to refund
11  those bonds issued before March 1, 1995; (d) made for any
12  taxing district to pay interest or principal on bonds issued
13  to refund or continue to refund bonds issued after March 1,
14  1995 that were approved by referendum; (e) made for any taxing
15  district to pay interest or principal on revenue bonds issued
16  before March 1, 1995 for payment of which a property tax levy
17  or the full faith and credit of the unit of local government is
18  pledged; however, a tax for the payment of interest or
19  principal on those bonds shall be made only after the
20  governing body of the unit of local government finds that all
21  other sources for payment are insufficient to make those
22  payments; (f) made for payments under a building commission
23  lease when the lease payments are for the retirement of bonds
24  issued by the commission before March 1, 1995 to pay for the
25  building project; (g) made for payments due under installment
26  contracts entered into before March 1, 1995; (h) made for

 

 

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1  payments of principal and interest on bonds issued under the
2  Metropolitan Water Reclamation District Act to finance
3  construction projects initiated before October 1, 1991; (h-4)
4  made for stormwater management purposes by the Metropolitan
5  Water Reclamation District of Greater Chicago under Section 12
6  of the Metropolitan Water Reclamation District Act; (h-8) made
7  for payments of principal and interest on bonds issued under
8  Section 9.6a of the Metropolitan Water Reclamation District
9  Act to make contributions to the pension fund established
10  under Article 13 of the Illinois Pension Code; (i) made for
11  payments of principal and interest on limited bonds, as
12  defined in Section 3 of the Local Government Debt Reform Act,
13  in an amount not to exceed the debt service extension base less
14  the amount in items (b), (c), and (e) of this definition for
15  non-referendum obligations, except obligations initially
16  issued pursuant to referendum and bonds described in
17  subsections (h) and (h-8) of this definition; (j) made for
18  payments of principal and interest on bonds issued under
19  Section 15 of the Local Government Debt Reform Act; (k) made
20  for payments of principal and interest on bonds authorized by
21  Public Act 88-503 and issued under Section 20a of the Chicago
22  Park District Act for aquarium or museum projects and bonds
23  issued under Section 20a of the Chicago Park District Act for
24  the purpose of making contributions to the pension fund
25  established under Article 12 of the Illinois Pension Code; (l)
26  made for payments of principal and interest on bonds

 

 

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1  authorized by Public Act 87-1191 or 93-601 and (i) issued
2  pursuant to Section 21.2 of the Cook County Forest Preserve
3  District Act, (ii) issued under Section 42 of the Cook County
4  Forest Preserve District Act for zoological park projects, or
5  (iii) issued under Section 44.1 of the Cook County Forest
6  Preserve District Act for botanical gardens projects; (m) made
7  pursuant to Section 34-53.5 of the School Code, whether levied
8  annually or not; (n) made to fund expenses of providing joint
9  recreational programs for persons with disabilities under
10  Section 5-8 of the Park District Code or Section 11-95-14 of
11  the Illinois Municipal Code; (o) made by the Chicago Park
12  District for recreational programs for persons with
13  disabilities under subsection (c) of Section 7.06 of the
14  Chicago Park District Act; (p) made for contributions to a
15  firefighter's pension fund created under Article 4 of the
16  Illinois Pension Code, to the extent of the amount certified
17  under item (5) of Section 4-134 of the Illinois Pension Code;
18  (q) made by Ford Heights School District 169 under Section
19  17-9.02 of the School Code; and (r) made for the purpose of
20  making employer contributions to the Public School Teachers'
21  Pension and Retirement Fund of Chicago under Section 34-53 of
22  the School Code; and (s) made for the repayment of bonds or
23  certificates issued to finance guaranteed energy savings
24  contracts under Article 19b of the School Code.
25  "Aggregate extension" for all taxing districts to which
26  this Law applies in accordance with Section 18-213, except for

 

 

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1  those taxing districts subject to paragraph (2) of subsection
2  (e) of Section 18-213, means the annual corporate extension
3  for the taxing district and those special purpose extensions
4  that are made annually for the taxing district, excluding
5  special purpose extensions: (a) made for the taxing district
6  to pay interest or principal on general obligation bonds that
7  were approved by referendum; (b) made for any taxing district
8  to pay interest or principal on general obligation bonds
9  issued before the date on which the referendum making this Law
10  applicable to the taxing district is held; (c) made for any
11  taxing district to pay interest or principal on bonds issued
12  to refund or continue to refund those bonds issued before the
13  date on which the referendum making this Law applicable to the
14  taxing district is held; (d) made for any taxing district to
15  pay interest or principal on bonds issued to refund or
16  continue to refund bonds issued after the date on which the
17  referendum making this Law applicable to the taxing district
18  is held if the bonds were approved by referendum after the date
19  on which the referendum making this Law applicable to the
20  taxing district is held; (e) made for any taxing district to
21  pay interest or principal on revenue bonds issued before the
22  date on which the referendum making this Law applicable to the
23  taxing district is held for payment of which a property tax
24  levy or the full faith and credit of the unit of local
25  government is pledged; however, a tax for the payment of
26  interest or principal on those bonds shall be made only after

 

 

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1  the governing body of the unit of local government finds that
2  all other sources for payment are insufficient to make those
3  payments; (f) made for payments under a building commission
4  lease when the lease payments are for the retirement of bonds
5  issued by the commission before the date on which the
6  referendum making this Law applicable to the taxing district
7  is held to pay for the building project; (g) made for payments
8  due under installment contracts entered into before the date
9  on which the referendum making this Law applicable to the
10  taxing district is held; (h) made for payments of principal
11  and interest on limited bonds, as defined in Section 3 of the
12  Local Government Debt Reform Act, in an amount not to exceed
13  the debt service extension base less the amount in items (b),
14  (c), and (e) of this definition for non-referendum
15  obligations, except obligations initially issued pursuant to
16  referendum; (i) made for payments of principal and interest on
17  bonds issued under Section 15 of the Local Government Debt
18  Reform Act; (j) made for a qualified airport authority to pay
19  interest or principal on general obligation bonds issued for
20  the purpose of paying obligations due under, or financing
21  airport facilities required to be acquired, constructed,
22  installed or equipped pursuant to, contracts entered into
23  before March 1, 1996 (but not including any amendments to such
24  a contract taking effect on or after that date); (k) made to
25  fund expenses of providing joint recreational programs for
26  persons with disabilities under Section 5-8 of the Park

 

 

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1  District Code or Section 11-95-14 of the Illinois Municipal
2  Code; (l) made for contributions to a firefighter's pension
3  fund created under Article 4 of the Illinois Pension Code, to
4  the extent of the amount certified under item (5) of Section
5  4-134 of the Illinois Pension Code; and (m) made for the taxing
6  district to pay interest or principal on general obligation
7  bonds issued pursuant to Section 19-3.10 of the School Code;
8  and (n) made for the repayment of bonds or certificates issued
9  to finance guaranteed energy savings contracts under Article
10  19b of the School Code.
11  "Aggregate extension" for all taxing districts to which
12  this Law applies in accordance with paragraph (2) of
13  subsection (e) of Section 18-213 means the annual corporate
14  extension for the taxing district and those special purpose
15  extensions that are made annually for the taxing district,
16  excluding special purpose extensions: (a) made for the taxing
17  district to pay interest or principal on general obligation
18  bonds that were approved by referendum; (b) made for any
19  taxing district to pay interest or principal on general
20  obligation bonds issued before March 7, 1997 (the effective
21  date of Public Act 89-718); (c) made for any taxing district to
22  pay interest or principal on bonds issued to refund or
23  continue to refund those bonds issued before March 7, 1997
24  (the effective date of Public Act 89-718); (d) made for any
25  taxing district to pay interest or principal on bonds issued
26  to refund or continue to refund bonds issued after March 7,

 

 

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1  1997 (the effective date of Public Act 89-718) if the bonds
2  were approved by referendum after March 7, 1997 (the effective
3  date of Public Act 89-718); (e) made for any taxing district to
4  pay interest or principal on revenue bonds issued before March
5  7, 1997 (the effective date of Public Act 89-718) for payment
6  of which a property tax levy or the full faith and credit of
7  the unit of local government is pledged; however, a tax for the
8  payment of interest or principal on those bonds shall be made
9  only after the governing body of the unit of local government
10  finds that all other sources for payment are insufficient to
11  make those payments; (f) made for payments under a building
12  commission lease when the lease payments are for the
13  retirement of bonds issued by the commission before March 7,
14  1997 (the effective date of Public Act 89-718) to pay for the
15  building project; (g) made for payments due under installment
16  contracts entered into before March 7, 1997 (the effective
17  date of Public Act 89-718); (h) made for payments of principal
18  and interest on limited bonds, as defined in Section 3 of the
19  Local Government Debt Reform Act, in an amount not to exceed
20  the debt service extension base less the amount in items (b),
21  (c), and (e) of this definition for non-referendum
22  obligations, except obligations initially issued pursuant to
23  referendum; (i) made for payments of principal and interest on
24  bonds issued under Section 15 of the Local Government Debt
25  Reform Act; (j) made for a qualified airport authority to pay
26  interest or principal on general obligation bonds issued for

 

 

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1  the purpose of paying obligations due under, or financing
2  airport facilities required to be acquired, constructed,
3  installed or equipped pursuant to, contracts entered into
4  before March 1, 1996 (but not including any amendments to such
5  a contract taking effect on or after that date); (k) made to
6  fund expenses of providing joint recreational programs for
7  persons with disabilities under Section 5-8 of the Park
8  District Code or Section 11-95-14 of the Illinois Municipal
9  Code; and (l) made for contributions to a firefighter's
10  pension fund created under Article 4 of the Illinois Pension
11  Code, to the extent of the amount certified under item (5) of
12  Section 4-134 of the Illinois Pension Code; and (m) made for
13  the repayment of bonds or certificates issued to finance
14  guaranteed energy savings contracts under Article 19b of the
15  School Code.
16  "Debt service extension base" means an amount equal to
17  that portion of the extension for a taxing district for the
18  1994 levy year, or for those taxing districts subject to this
19  Law in accordance with Section 18-213, except for those
20  subject to paragraph (2) of subsection (e) of Section 18-213,
21  for the levy year in which the referendum making this Law
22  applicable to the taxing district is held, or for those taxing
23  districts subject to this Law in accordance with paragraph (2)
24  of subsection (e) of Section 18-213 for the 1996 levy year,
25  constituting an extension for payment of principal and
26  interest on bonds issued by the taxing district without

 

 

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1  referendum, but not including excluded non-referendum bonds.
2  For park districts (i) that were first subject to this Law in
3  1991 or 1995 and (ii) whose extension for the 1994 levy year
4  for the payment of principal and interest on bonds issued by
5  the park district without referendum (but not including
6  excluded non-referendum bonds) was less than 51% of the amount
7  for the 1991 levy year constituting an extension for payment
8  of principal and interest on bonds issued by the park district
9  without referendum (but not including excluded non-referendum
10  bonds), "debt service extension base" means an amount equal to
11  that portion of the extension for the 1991 levy year
12  constituting an extension for payment of principal and
13  interest on bonds issued by the park district without
14  referendum (but not including excluded non-referendum bonds).
15  A debt service extension base established or increased at any
16  time pursuant to any provision of this Law, except Section
17  18-212, shall be increased each year commencing with the later
18  of (i) the 2009 levy year or (ii) the first levy year in which
19  this Law becomes applicable to the taxing district, by the
20  lesser of 5% or the percentage increase in the Consumer Price
21  Index during the 12-month calendar year preceding the levy
22  year. The debt service extension base may be established or
23  increased as provided under Section 18-212. "Excluded
24  non-referendum bonds" means (i) bonds authorized by Public Act
25  88-503 and issued under Section 20a of the Chicago Park
26  District Act for aquarium and museum projects; (ii) bonds

 

 

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1  issued under Section 15 of the Local Government Debt Reform
2  Act; or (iii) refunding obligations issued to refund or to
3  continue to refund obligations initially issued pursuant to
4  referendum.
5  "Special purpose extensions" include, but are not limited
6  to, extensions for levies made on an annual basis for
7  unemployment and workers' compensation, self-insurance,
8  contributions to pension plans, and extensions made pursuant
9  to Section 6-601 of the Illinois Highway Code for a road
10  district's permanent road fund whether levied annually or not.
11  The extension for a special service area is not included in the
12  aggregate extension.
13  "Aggregate extension base" means the taxing district's
14  last preceding aggregate extension as adjusted under Sections
15  18-135, 18-215, 18-230, 18-206, and 18-233. Beginning with
16  levy year 2022, for taxing districts that are specified in
17  Section 18-190.7, the taxing district's aggregate extension
18  base shall be calculated as provided in Section 18-190.7. An
19  adjustment under Section 18-135 shall be made for the 2007
20  levy year and all subsequent levy years whenever one or more
21  counties within which a taxing district is located (i) used
22  estimated valuations or rates when extending taxes in the
23  taxing district for the last preceding levy year that resulted
24  in the over or under extension of taxes, or (ii) increased or
25  decreased the tax extension for the last preceding levy year
26  as required by Section 18-135(c). Whenever an adjustment is

 

 

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1  required under Section 18-135, the aggregate extension base of
2  the taxing district shall be equal to the amount that the
3  aggregate extension of the taxing district would have been for
4  the last preceding levy year if either or both (i) actual,
5  rather than estimated, valuations or rates had been used to
6  calculate the extension of taxes for the last levy year, or
7  (ii) the tax extension for the last preceding levy year had not
8  been adjusted as required by subsection (c) of Section 18-135.
9  Notwithstanding any other provision of law, for levy year
10  2012, the aggregate extension base for West Northfield School
11  District No. 31 in Cook County shall be $12,654,592.
12  Notwithstanding any other provision of law, for levy year
13  2022, the aggregate extension base of a home equity assurance
14  program that levied at least $1,000,000 in property taxes in
15  levy year 2019 or 2020 under the Home Equity Assurance Act
16  shall be the amount that the program's aggregate extension
17  base for levy year 2021 would have been if the program had
18  levied a property tax for levy year 2021.
19  "Levy year" has the same meaning as "year" under Section
20  1-155.
21  "New property" means (i) the assessed value, after final
22  board of review or board of appeals action, of new
23  improvements or additions to existing improvements on any
24  parcel of real property that increase the assessed value of
25  that real property during the levy year multiplied by the
26  equalization factor issued by the Department under Section

 

 

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1  17-30, (ii) the assessed value, after final board of review or
2  board of appeals action, of real property not exempt from real
3  estate taxation, which real property was exempt from real
4  estate taxation for any portion of the immediately preceding
5  levy year, multiplied by the equalization factor issued by the
6  Department under Section 17-30, including the assessed value,
7  upon final stabilization of occupancy after new construction
8  is complete, of any real property located within the
9  boundaries of an otherwise or previously exempt military
10  reservation that is intended for residential use and owned by
11  or leased to a private corporation or other entity, (iii) in
12  counties that classify in accordance with Section 4 of Article
13  IX of the Illinois Constitution, an incentive property's
14  additional assessed value resulting from a scheduled increase
15  in the level of assessment as applied to the first year final
16  board of review market value, and (iv) any increase in
17  assessed value due to oil or gas production from an oil or gas
18  well required to be permitted under the Hydraulic Fracturing
19  Regulatory Act that was not produced in or accounted for
20  during the previous levy year. In addition, the county clerk
21  in a county containing a population of 3,000,000 or more shall
22  include in the 1997 recovered tax increment value for any
23  school district, any recovered tax increment value that was
24  applicable to the 1995 tax year calculations.
25  "Qualified airport authority" means an airport authority
26  organized under the Airport Authorities Act and located in a

 

 

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1  county bordering on the State of Wisconsin and having a
2  population in excess of 200,000 and not greater than 500,000.
3  "Recovered tax increment value" means, except as otherwise
4  provided in this paragraph, the amount of the current year's
5  equalized assessed value, in the first year after a
6  municipality terminates the designation of an area as a
7  redevelopment project area previously established under the
8  Tax Increment Allocation Redevelopment Act in the Illinois
9  Municipal Code, previously established under the Industrial
10  Jobs Recovery Law in the Illinois Municipal Code, previously
11  established under the Economic Development Project Area Tax
12  Increment Act of 1995, or previously established under the
13  Economic Development Area Tax Increment Allocation Act, of
14  each taxable lot, block, tract, or parcel of real property in
15  the redevelopment project area over and above the initial
16  equalized assessed value of each property in the redevelopment
17  project area. For the taxes which are extended for the 1997
18  levy year, the recovered tax increment value for a non-home
19  rule taxing district that first became subject to this Law for
20  the 1995 levy year because a majority of its 1994 equalized
21  assessed value was in an affected county or counties shall be
22  increased if a municipality terminated the designation of an
23  area in 1993 as a redevelopment project area previously
24  established under the Tax Increment Allocation Redevelopment
25  Act in the Illinois Municipal Code, previously established
26  under the Industrial Jobs Recovery Law in the Illinois

 

 

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1  Municipal Code, or previously established under the Economic
2  Development Area Tax Increment Allocation Act, by an amount
3  equal to the 1994 equalized assessed value of each taxable
4  lot, block, tract, or parcel of real property in the
5  redevelopment project area over and above the initial
6  equalized assessed value of each property in the redevelopment
7  project area. In the first year after a municipality removes a
8  taxable lot, block, tract, or parcel of real property from a
9  redevelopment project area established under the Tax Increment
10  Allocation Redevelopment Act in the Illinois Municipal Code,
11  the Industrial Jobs Recovery Law in the Illinois Municipal
12  Code, or the Economic Development Area Tax Increment
13  Allocation Act, "recovered tax increment value" means the
14  amount of the current year's equalized assessed value of each
15  taxable lot, block, tract, or parcel of real property removed
16  from the redevelopment project area over and above the initial
17  equalized assessed value of that real property before removal
18  from the redevelopment project area.
19  Except as otherwise provided in this Section, "limiting
20  rate" means a fraction the numerator of which is the last
21  preceding aggregate extension base times an amount equal to
22  one plus the extension limitation defined in this Section and
23  the denominator of which is the current year's equalized
24  assessed value of all real property in the territory under the
25  jurisdiction of the taxing district during the prior levy
26  year. For those taxing districts that reduced their aggregate

 

 

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1  extension for the last preceding levy year, except for school
2  districts that reduced their extension for educational
3  purposes pursuant to Section 18-206, the highest aggregate
4  extension in any of the last 3 preceding levy years shall be
5  used for the purpose of computing the limiting rate. The
6  denominator shall not include new property or the recovered
7  tax increment value. If a new rate, a rate decrease, or a
8  limiting rate increase has been approved at an election held
9  after March 21, 2006, then (i) the otherwise applicable
10  limiting rate shall be increased by the amount of the new rate
11  or shall be reduced by the amount of the rate decrease, as the
12  case may be, or (ii) in the case of a limiting rate increase,
13  the limiting rate shall be equal to the rate set forth in the
14  proposition approved by the voters for each of the years
15  specified in the proposition, after which the limiting rate of
16  the taxing district shall be calculated as otherwise provided.
17  In the case of a taxing district that obtained referendum
18  approval for an increased limiting rate on March 20, 2012, the
19  limiting rate for tax year 2012 shall be the rate that
20  generates the approximate total amount of taxes extendable for
21  that tax year, as set forth in the proposition approved by the
22  voters; this rate shall be the final rate applied by the county
23  clerk for the aggregate of all capped funds of the district for
24  tax year 2012.
25  (Source: P.A. 102-263, eff. 8-6-21; 102-311, eff. 8-6-21;
26  102-519, eff. 8-20-21; 102-558, eff. 8-20-21; 102-707, eff.

 

 

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1  4-22-22; 102-813, eff. 5-13-22; 102-895, eff. 5-23-22; revised
2  8-29-22.)
3  Section 10. The School Code is amended by changing
4  Sections 19-1 and 19b-6 and by adding Section 19b-5.5 as
5  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
9  provisions limiting their indebtedness prescribed in the Local
10  Government Debt Limitation Act.
11  No school districts maintaining grades K through 8 or 9
12  through 12 shall become indebted in any manner or for any
13  purpose to an amount, including existing indebtedness, in the
14  aggregate exceeding 6.9% on the value of the taxable property
15  therein to be ascertained by the last assessment for State and
16  county taxes or, until January 1, 1983, if greater, the sum
17  that is produced by multiplying the school district's 1978
18  equalized assessed valuation by the debt limitation percentage
19  in effect on January 1, 1979, previous to the incurring of such
20  indebtedness.
21  No school districts maintaining grades K through 12 shall
22  become indebted in any manner or for any purpose to an amount,
23  including existing indebtedness, in the aggregate exceeding
24  13.8% on the value of the taxable property therein to be

 

 

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1  ascertained by the last assessment for State and county taxes
2  or, until January 1, 1983, if greater, the sum that is produced
3  by multiplying the school district's 1978 equalized assessed
4  valuation by the debt limitation percentage in effect on
5  January 1, 1979, previous to the incurring of such
6  indebtedness.
7  No partial elementary unit district, as defined in Article
8  11E of this Code, shall become indebted in any manner or for
9  any purpose in an amount, including existing indebtedness, in
10  the aggregate exceeding 6.9% of the value of the taxable
11  property of the entire district, to be ascertained by the last
12  assessment for State and county taxes, plus an amount,
13  including existing indebtedness, in the aggregate exceeding
14  6.9% of the value of the taxable property of that portion of
15  the district included in the elementary and high school
16  classification, to be ascertained by the last assessment for
17  State and county taxes. Moreover, no partial elementary unit
18  district, as defined in Article 11E of this Code, shall become
19  indebted on account of bonds issued by the district for high
20  school purposes in the aggregate exceeding 6.9% of the value
21  of the taxable property of the entire district, to be
22  ascertained by the last assessment for State and county taxes,
23  nor shall the district become indebted on account of bonds
24  issued by the district for elementary purposes in the
25  aggregate exceeding 6.9% of the value of the taxable property
26  for that portion of the district included in the elementary

 

 

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1  and high school classification, to be ascertained by the last
2  assessment for State and county taxes.
3  Notwithstanding the provisions of any other law to the
4  contrary, in any case in which the voters of a school district
5  have approved a proposition for the issuance of bonds of such
6  school district at an election held prior to January 1, 1979,
7  and all of the bonds approved at such election have not been
8  issued, the debt limitation applicable to such school district
9  during the calendar year 1979 shall be computed by multiplying
10  the value of taxable property therein, including personal
11  property, as ascertained by the last assessment for State and
12  county taxes, previous to the incurring of such indebtedness,
13  by the percentage limitation applicable to such school
14  district under the provisions of this subsection (a).
15  (a-5) After January 1, 2018, no school district may issue
16  bonds under Sections 19-2 through 19-7 of this Code and rely on
17  an exception to the debt limitations in this Section unless it
18  has complied with the requirements of Section 21 of the Bond
19  Issue Notification Act and the bonds have been approved by
20  referendum.
21  (b) Notwithstanding the debt limitation prescribed in
22  subsection (a) of this Section, additional indebtedness may be
23  incurred in an amount not to exceed the estimated cost of
24  acquiring or improving school sites or constructing and
25  equipping additional building facilities under the following
26  conditions:

 

 

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1  (1) Whenever the enrollment of students for the next
2  school year is estimated by the board of education to
3  increase over the actual present enrollment by not less
4  than 35% or by not less than 200 students or the actual
5  present enrollment of students has increased over the
6  previous school year by not less than 35% or by not less
7  than 200 students and the board of education determines
8  that additional school sites or building facilities are
9  required as a result of such increase in enrollment; and
10  (2) When the Regional Superintendent of Schools having
11  jurisdiction over the school district and the State
12  Superintendent of Education concur in such enrollment
13  projection or increase and approve the need for such
14  additional school sites or building facilities and the
15  estimated cost thereof; and
16  (3) When the voters in the school district approve a
17  proposition for the issuance of bonds for the purpose of
18  acquiring or improving such needed school sites or
19  constructing and equipping such needed additional building
20  facilities at an election called and held for that
21  purpose. Notice of such an election shall state that the
22  amount of indebtedness proposed to be incurred would
23  exceed the debt limitation otherwise applicable to the
24  school district. The ballot for such proposition shall
25  state what percentage of the equalized assessed valuation
26  will be outstanding in bonds if the proposed issuance of

 

 

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1  bonds is approved by the voters; or
2  (4) Notwithstanding the provisions of paragraphs (1)
3  through (3) of this subsection (b), if the school board
4  determines that additional facilities are needed to
5  provide a quality educational program and not less than
6  2/3 of those voting in an election called by the school
7  board on the question approve the issuance of bonds for
8  the construction of such facilities, the school district
9  may issue bonds for this purpose; or
10  (5) Notwithstanding the provisions of paragraphs (1)
11  through (3) of this subsection (b), if (i) the school
12  district has previously availed itself of the provisions
13  of paragraph (4) of this subsection (b) to enable it to
14  issue bonds, (ii) the voters of the school district have
15  not defeated a proposition for the issuance of bonds since
16  the referendum described in paragraph (4) of this
17  subsection (b) was held, (iii) the school board determines
18  that additional facilities are needed to provide a quality
19  educational program, and (iv) a majority of those voting
20  in an election called by the school board on the question
21  approve the issuance of bonds for the construction of such
22  facilities, the school district may issue bonds for this
23  purpose.
24  In no event shall the indebtedness incurred pursuant to
25  this subsection (b) and the existing indebtedness of the
26  school district exceed 15% of the value of the taxable

 

 

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1  property therein to be ascertained by the last assessment for
2  State and county taxes, previous to the incurring of such
3  indebtedness or, until January 1, 1983, if greater, the sum
4  that is produced by multiplying the school district's 1978
5  equalized assessed valuation by the debt limitation percentage
6  in effect on January 1, 1979.
7  The indebtedness provided for by this subsection (b) shall
8  be in addition to and in excess of any other debt limitation.
9  (c) Notwithstanding the debt limitation prescribed in
10  subsection (a) of this Section, in any case in which a public
11  question for the issuance of bonds of a proposed school
12  district maintaining grades kindergarten through 12 received
13  at least 60% of the valid ballots cast on the question at an
14  election held on or prior to November 8, 1994, and in which the
15  bonds approved at such election have not been issued, the
16  school district pursuant to the requirements of Section 11A-10
17  (now repealed) may issue the total amount of bonds approved at
18  such election for the purpose stated in the question.
19  (d) Notwithstanding the debt limitation prescribed in
20  subsection (a) of this Section, a school district that meets
21  all the criteria set forth in paragraphs (1) and (2) of this
22  subsection (d) may incur an additional indebtedness in an
23  amount not to exceed $4,500,000, even though the amount of the
24  additional indebtedness authorized by this subsection (d),
25  when incurred and added to the aggregate amount of
26  indebtedness of the district existing immediately prior to the

 

 

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1  district incurring the additional indebtedness authorized by
2  this subsection (d), causes the aggregate indebtedness of the
3  district to exceed the debt limitation otherwise applicable to
4  that district under subsection (a):
5  (1) The additional indebtedness authorized by this
6  subsection (d) is incurred by the school district through
7  the issuance of bonds under and in accordance with Section
8  17-2.11a for the purpose of replacing a school building
9  which, because of mine subsidence damage, has been closed
10  as provided in paragraph (2) of this subsection (d) or
11  through the issuance of bonds under and in accordance with
12  Section 19-3 for the purpose of increasing the size of, or
13  providing for additional functions in, such replacement
14  school buildings, or both such purposes.
15  (2) The bonds issued by the school district as
16  provided in paragraph (1) above are issued for the
17  purposes of construction by the school district of a new
18  school building pursuant to Section 17-2.11, to replace an
19  existing school building that, because of mine subsidence
20  damage, is closed as of the end of the 1992-93 school year
21  pursuant to action of the regional superintendent of
22  schools of the educational service region in which the
23  district is located under Section 3-14.22 or are issued
24  for the purpose of increasing the size of, or providing
25  for additional functions in, the new school building being
26  constructed to replace a school building closed as the

 

 

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1  result of mine subsidence damage, or both such purposes.
2  (e) (Blank).
3  (f) Notwithstanding the provisions of subsection (a) of
4  this Section or of any other law, bonds in not to exceed the
5  aggregate amount of $5,500,000 and issued by a school district
6  meeting the following criteria shall not be considered
7  indebtedness for purposes of any statutory limitation and may
8  be issued in an amount or amounts, including existing
9  indebtedness, in excess of any heretofore or hereafter imposed
10  statutory limitation as to indebtedness:
11  (1) At the time of the sale of such bonds, the board of
12  education of the district shall have determined by
13  resolution that the enrollment of students in the district
14  is projected to increase by not less than 7% during each of
15  the next succeeding 2 school years.
16  (2) The board of education shall also determine by
17  resolution that the improvements to be financed with the
18  proceeds of the bonds are needed because of the projected
19  enrollment increases.
20  (3) The board of education shall also determine by
21  resolution that the projected increases in enrollment are
22  the result of improvements made or expected to be made to
23  passenger rail facilities located in the school district.
24  Notwithstanding the provisions of subsection (a) of this
25  Section or of any other law, a school district that has availed
26  itself of the provisions of this subsection (f) prior to July

 

 

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1  22, 2004 (the effective date of Public Act 93-799) may also
2  issue bonds approved by referendum up to an amount, including
3  existing indebtedness, not exceeding 25% of the equalized
4  assessed value of the taxable property in the district if all
5  of the conditions set forth in items (1), (2), and (3) of this
6  subsection (f) are met.
7  (g) Notwithstanding the provisions of subsection (a) of
8  this Section or any other law, bonds in not to exceed an
9  aggregate amount of 25% of the equalized assessed value of the
10  taxable property of a school district and issued by a school
11  district meeting the criteria in paragraphs (i) through (iv)
12  of this subsection shall not be considered indebtedness for
13  purposes of any statutory limitation and may be issued
14  pursuant to resolution of the school board in an amount or
15  amounts, including existing indebtedness, in excess of any
16  statutory limitation of indebtedness heretofore or hereafter
17  imposed:
18  (i) The bonds are issued for the purpose of
19  constructing a new high school building to replace two
20  adjacent existing buildings which together house a single
21  high school, each of which is more than 65 years old, and
22  which together are located on more than 10 acres and less
23  than 11 acres of property.
24  (ii) At the time the resolution authorizing the
25  issuance of the bonds is adopted, the cost of constructing
26  a new school building to replace the existing school

 

 

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1  building is less than 60% of the cost of repairing the
2  existing school building.
3  (iii) The sale of the bonds occurs before July 1,
4  1997.
5  (iv) The school district issuing the bonds is a unit
6  school district located in a county of less than 70,000
7  and more than 50,000 inhabitants, which has an average
8  daily attendance of less than 1,500 and an equalized
9  assessed valuation of less than $29,000,000.
10  (h) Notwithstanding any other provisions of this Section
11  or the provisions of any other law, until January 1, 1998, a
12  community unit school district maintaining grades K through 12
13  may issue bonds up to an amount, including existing
14  indebtedness, not exceeding 27.6% of the equalized assessed
15  value of the taxable property in the district, if all of the
16  following conditions are met:
17  (i) The school district has an equalized assessed
18  valuation for calendar year 1995 of less than $24,000,000;
19  (ii) The bonds are issued for the capital improvement,
20  renovation, rehabilitation, or replacement of existing
21  school buildings of the district, all of which buildings
22  were originally constructed not less than 40 years ago;
23  (iii) The voters of the district approve a proposition
24  for the issuance of the bonds at a referendum held after
25  March 19, 1996; and
26  (iv) The bonds are issued pursuant to Sections 19-2

 

 

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1  through 19-7 of this Code.
2  (i) Notwithstanding any other provisions of this Section
3  or the provisions of any other law, until January 1, 1998, a
4  community unit school district maintaining grades K through 12
5  may issue bonds up to an amount, including existing
6  indebtedness, not exceeding 27% of the equalized assessed
7  value of the taxable property in the district, if all of the
8  following conditions are met:
9  (i) The school district has an equalized assessed
10  valuation for calendar year 1995 of less than $44,600,000;
11  (ii) The bonds are issued for the capital improvement,
12  renovation, rehabilitation, or replacement of existing
13  school buildings of the district, all of which existing
14  buildings were originally constructed not less than 80
15  years ago;
16  (iii) The voters of the district approve a proposition
17  for the issuance of the bonds at a referendum held after
18  December 31, 1996; and
19  (iv) The bonds are issued pursuant to Sections 19-2
20  through 19-7 of this Code.
21  (j) Notwithstanding any other provisions of this Section
22  or the provisions of any other law, until January 1, 1999, a
23  community unit school district maintaining grades K through 12
24  may issue bonds up to an amount, including existing
25  indebtedness, not exceeding 27% of the equalized assessed
26  value of the taxable property in the district if all of the

 

 

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1  following conditions are met:
2  (i) The school district has an equalized assessed
3  valuation for calendar year 1995 of less than $140,000,000
4  and a best 3 months average daily attendance for the
5  1995-96 school year of at least 2,800;
6  (ii) The bonds are issued to purchase a site and build
7  and equip a new high school, and the school district's
8  existing high school was originally constructed not less
9  than 35 years prior to the sale of the bonds;
10  (iii) At the time of the sale of the bonds, the board
11  of education determines by resolution that a new high
12  school is needed because of projected enrollment
13  increases;
14  (iv) At least 60% of those voting in an election held
15  after December 31, 1996 approve a proposition for the
16  issuance of the bonds; and
17  (v) The bonds are issued pursuant to Sections 19-2
18  through 19-7 of this Code.
19  (k) Notwithstanding the debt limitation prescribed in
20  subsection (a) of this Section, a school district that meets
21  all the criteria set forth in paragraphs (1) through (4) of
22  this subsection (k) may issue bonds to incur an additional
23  indebtedness in an amount not to exceed $4,000,000 even though
24  the amount of the additional indebtedness authorized by this
25  subsection (k), when incurred and added to the aggregate
26  amount of indebtedness of the school district existing

 

 

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1  immediately prior to the school district incurring such
2  additional indebtedness, causes the aggregate indebtedness of
3  the school district to exceed or increases the amount by which
4  the aggregate indebtedness of the district already exceeds the
5  debt limitation otherwise applicable to that school district
6  under subsection (a):
7  (1) the school district is located in 2 counties, and
8  a referendum to authorize the additional indebtedness was
9  approved by a majority of the voters of the school
10  district voting on the proposition to authorize that
11  indebtedness;
12  (2) the additional indebtedness is for the purpose of
13  financing a multi-purpose room addition to the existing
14  high school;
15  (3) the additional indebtedness, together with the
16  existing indebtedness of the school district, shall not
17  exceed 17.4% of the value of the taxable property in the
18  school district, to be ascertained by the last assessment
19  for State and county taxes; and
20  (4) the bonds evidencing the additional indebtedness
21  are issued, if at all, within 120 days of August 14, 1998
22  (the effective date of Public Act 90-757).
23  (l) Notwithstanding any other provisions of this Section
24  or the provisions of any other law, until January 1, 2000, a
25  school district maintaining grades kindergarten through 8 may
26  issue bonds up to an amount, including existing indebtedness,

 

 

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1  not exceeding 15% of the equalized assessed value of the
2  taxable property in the district if all of the following
3  conditions are met:
4  (i) the district has an equalized assessed valuation
5  for calendar year 1996 of less than $10,000,000;
6  (ii) the bonds are issued for capital improvement,
7  renovation, rehabilitation, or replacement of one or more
8  school buildings of the district, which buildings were
9  originally constructed not less than 70 years ago;
10  (iii) the voters of the district approve a proposition
11  for the issuance of the bonds at a referendum held on or
12  after March 17, 1998; and
13  (iv) the bonds are issued pursuant to Sections 19-2
14  through 19-7 of this Code.
15  (m) Notwithstanding any other provisions of this Section
16  or the provisions of any other law, until January 1, 1999, an
17  elementary school district maintaining grades K through 8 may
18  issue bonds up to an amount, excluding existing indebtedness,
19  not exceeding 18% of the equalized assessed value of the
20  taxable property in the district, if all of the following
21  conditions are met:
22  (i) The school district has an equalized assessed
23  valuation for calendar year 1995 or less than $7,700,000;
24  (ii) The school district operates 2 elementary
25  attendance centers that until 1976 were operated as the
26  attendance centers of 2 separate and distinct school

 

 

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1  districts;
2  (iii) The bonds are issued for the construction of a
3  new elementary school building to replace an existing
4  multi-level elementary school building of the school
5  district that is not accessible at all levels and parts of
6  which were constructed more than 75 years ago;
7  (iv) The voters of the school district approve a
8  proposition for the issuance of the bonds at a referendum
9  held after July 1, 1998; and
10  (v) The bonds are issued pursuant to Sections 19-2
11  through 19-7 of this Code.
12  (n) Notwithstanding the debt limitation prescribed in
13  subsection (a) of this Section or any other provisions of this
14  Section or of any other law, a school district that meets all
15  of the criteria set forth in paragraphs (i) through (vi) of
16  this subsection (n) may incur additional indebtedness by the
17  issuance of bonds in an amount not exceeding the amount
18  certified by the Capital Development Board to the school
19  district as provided in paragraph (iii) of this subsection
20  (n), even though the amount of the additional indebtedness so
21  authorized, when incurred and added to the aggregate amount of
22  indebtedness of the district existing immediately prior to the
23  district incurring the additional indebtedness authorized by
24  this subsection (n), causes the aggregate indebtedness of the
25  district to exceed the debt limitation otherwise applicable by
26  law to that district:

 

 

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1  (i) The school district applies to the State Board of
2  Education for a school construction project grant and
3  submits a district facilities plan in support of its
4  application pursuant to Section 5-20 of the School
5  Construction Law.
6  (ii) The school district's application and facilities
7  plan are approved by, and the district receives a grant
8  entitlement for a school construction project issued by,
9  the State Board of Education under the School Construction
10  Law.
11  (iii) The school district has exhausted its bonding
12  capacity or the unused bonding capacity of the district is
13  less than the amount certified by the Capital Development
14  Board to the district under Section 5-15 of the School
15  Construction Law as the dollar amount of the school
16  construction project's cost that the district will be
17  required to finance with non-grant funds in order to
18  receive a school construction project grant under the
19  School Construction Law.
20  (iv) The bonds are issued for a "school construction
21  project", as that term is defined in Section 5-5 of the
22  School Construction Law, in an amount that does not exceed
23  the dollar amount certified, as provided in paragraph
24  (iii) of this subsection (n), by the Capital Development
25  Board to the school district under Section 5-15 of the
26  School Construction Law.

 

 

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1  (v) The voters of the district approve a proposition
2  for the issuance of the bonds at a referendum held after
3  the criteria specified in paragraphs (i) and (iii) of this
4  subsection (n) are met.
5  (vi) The bonds are issued pursuant to Sections 19-2
6  through 19-7 of the School Code.
7  (o) Notwithstanding any other provisions of this Section
8  or the provisions of any other law, until November 1, 2007, a
9  community unit school district maintaining grades K through 12
10  may issue bonds up to an amount, including existing
11  indebtedness, not exceeding 20% of the equalized assessed
12  value of the taxable property in the district if all of the
13  following conditions are met:
14  (i) the school district has an equalized assessed
15  valuation for calendar year 2001 of at least $737,000,000
16  and an enrollment for the 2002-2003 school year of at
17  least 8,500;
18  (ii) the bonds are issued to purchase school sites,
19  build and equip a new high school, build and equip a new
20  junior high school, build and equip 5 new elementary
21  schools, and make technology and other improvements and
22  additions to existing schools;
23  (iii) at the time of the sale of the bonds, the board
24  of education determines by resolution that the sites and
25  new or improved facilities are needed because of projected
26  enrollment increases;

 

 

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1  (iv) at least 57% of those voting in a general
2  election held prior to January 1, 2003 approved a
3  proposition for the issuance of the bonds; and
4  (v) the bonds are issued pursuant to Sections 19-2
5  through 19-7 of this Code.
6  (p) Notwithstanding any other provisions of this Section
7  or the provisions of any other law, a community unit school
8  district maintaining grades K through 12 may issue bonds up to
9  an amount, including indebtedness, not exceeding 27% of the
10  equalized assessed value of the taxable property in the
11  district if all of the following conditions are met:
12  (i) The school district has an equalized assessed
13  valuation for calendar year 2001 of at least $295,741,187
14  and a best 3 months' average daily attendance for the
15  2002-2003 school year of at least 2,394.
16  (ii) The bonds are issued to build and equip 3
17  elementary school buildings; build and equip one middle
18  school building; and alter, repair, improve, and equip all
19  existing school buildings in the district.
20  (iii) At the time of the sale of the bonds, the board
21  of education determines by resolution that the project is
22  needed because of expanding growth in the school district
23  and a projected enrollment increase.
24  (iv) The bonds are issued pursuant to Sections 19-2
25  through 19-7 of this Code.
26  (p-5) Notwithstanding any other provisions of this Section

 

 

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1  or the provisions of any other law, bonds issued by a community
2  unit school district maintaining grades K through 12 shall not
3  be considered indebtedness for purposes of any statutory
4  limitation and may be issued in an amount or amounts,
5  including existing indebtedness, in excess of any heretofore
6  or hereafter imposed statutory limitation as to indebtedness,
7  if all of the following conditions are met:
8  (i) For each of the 4 most recent years, residential
9  property comprises more than 80% of the equalized assessed
10  valuation of the district.
11  (ii) At least 2 school buildings that were constructed
12  40 or more years prior to the issuance of the bonds will be
13  demolished and will be replaced by new buildings or
14  additions to one or more existing buildings.
15  (iii) Voters of the district approve a proposition for
16  the issuance of the bonds at a regularly scheduled
17  election.
18  (iv) At the time of the sale of the bonds, the school
19  board determines by resolution that the new buildings or
20  building additions are needed because of an increase in
21  enrollment projected by the school board.
22  (v) The principal amount of the bonds, including
23  existing indebtedness, does not exceed 25% of the
24  equalized assessed value of the taxable property in the
25  district.
26  (vi) The bonds are issued prior to January 1, 2007,

 

 

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1  pursuant to Sections 19-2 through 19-7 of this Code.
2  (p-10) Notwithstanding any other provisions of this
3  Section or the provisions of any other law, bonds issued by a
4  community consolidated school district maintaining grades K
5  through 8 shall not be considered indebtedness for purposes of
6  any statutory limitation and may be issued in an amount or
7  amounts, including existing indebtedness, in excess of any
8  heretofore or hereafter imposed statutory limitation as to
9  indebtedness, if all of the following conditions are met:
10  (i) For each of the 4 most recent years, residential
11  and farm property comprises more than 80% of the equalized
12  assessed valuation of the district.
13  (ii) The bond proceeds are to be used to acquire and
14  improve school sites and build and equip a school
15  building.
16  (iii) Voters of the district approve a proposition for
17  the issuance of the bonds at a regularly scheduled
18  election.
19  (iv) At the time of the sale of the bonds, the school
20  board determines by resolution that the school sites and
21  building additions are needed because of an increase in
22  enrollment projected by the school board.
23  (v) The principal amount of the bonds, including
24  existing indebtedness, does not exceed 20% of the
25  equalized assessed value of the taxable property in the
26  district.

 

 

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1  (vi) The bonds are issued prior to January 1, 2007,
2  pursuant to Sections 19-2 through 19-7 of this Code.
3  (p-15) In addition to all other authority to issue bonds,
4  the Oswego Community Unit School District Number 308 may issue
5  bonds with an aggregate principal amount not to exceed
6  $450,000,000, but only if all of the following conditions are
7  met:
8  (i) The voters of the district have approved a
9  proposition for the bond issue at the general election
10  held on November 7, 2006.
11  (ii) At the time of the sale of the bonds, the school
12  board determines, by resolution, that: (A) the building
13  and equipping of the new high school building, new junior
14  high school buildings, new elementary school buildings,
15  early childhood building, maintenance building,
16  transportation facility, and additions to existing school
17  buildings, the altering, repairing, equipping, and
18  provision of technology improvements to existing school
19  buildings, and the acquisition and improvement of school
20  sites, as the case may be, are required as a result of a
21  projected increase in the enrollment of students in the
22  district; and (B) the sale of bonds for these purposes is
23  authorized by legislation that exempts the debt incurred
24  on the bonds from the district's statutory debt
25  limitation.
26  (iii) The bonds are issued, in one or more bond

 

 

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1  issues, on or before November 7, 2011, but the aggregate
2  principal amount issued in all such bond issues combined
3  must not exceed $450,000,000.
4  (iv) The bonds are issued in accordance with this
5  Article 19.
6  (v) The proceeds of the bonds are used only to
7  accomplish those projects approved by the voters at the
8  general election held on November 7, 2006.
9  The debt incurred on any bonds issued under this subsection
10  (p-15) shall not be considered indebtedness for purposes of
11  any statutory debt limitation.
12  (p-20) In addition to all other authority to issue bonds,
13  the Lincoln-Way Community High School District Number 210 may
14  issue bonds with an aggregate principal amount not to exceed
15  $225,000,000, but only if all of the following conditions are
16  met:
17  (i) The voters of the district have approved a
18  proposition for the bond issue at the general primary
19  election held on March 21, 2006.
20  (ii) At the time of the sale of the bonds, the school
21  board determines, by resolution, that: (A) the building
22  and equipping of the new high school buildings, the
23  altering, repairing, and equipping of existing school
24  buildings, and the improvement of school sites, as the
25  case may be, are required as a result of a projected
26  increase in the enrollment of students in the district;

 

 

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1  and (B) the sale of bonds for these purposes is authorized
2  by legislation that exempts the debt incurred on the bonds
3  from the district's statutory debt limitation.
4  (iii) The bonds are issued, in one or more bond
5  issues, on or before March 21, 2011, but the aggregate
6  principal amount issued in all such bond issues combined
7  must not exceed $225,000,000.
8  (iv) The bonds are issued in accordance with this
9  Article 19.
10  (v) The proceeds of the bonds are used only to
11  accomplish those projects approved by the voters at the
12  primary election held on March 21, 2006.
13  The debt incurred on any bonds issued under this subsection
14  (p-20) shall not be considered indebtedness for purposes of
15  any statutory debt limitation.
16  (p-25) In addition to all other authority to issue bonds,
17  Rochester Community Unit School District 3A may issue bonds
18  with an aggregate principal amount not to exceed $18,500,000,
19  but only if all of the following conditions are met:
20  (i) The voters of the district approve a proposition
21  for the bond issuance at the general primary election held
22  in 2008.
23  (ii) At the time of the sale of the bonds, the school
24  board determines, by resolution, that: (A) the building
25  and equipping of a new high school building; the addition
26  of classrooms and support facilities at the high school,

 

 

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1  middle school, and elementary school; 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
6  of bonds for these purposes is authorized by a law 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
10  issues, on or before December 31, 2012, but the aggregate
11  principal amount issued in all such bond issues combined
12  must not exceed $18,500,000.
13  (iv) The bonds are issued in accordance with this
14  Article 19.
15  (v) The proceeds of the bonds are used to accomplish
16  only those projects approved by the voters at the primary
17  election held in 2008.
18  The debt incurred on any bonds issued under this subsection
19  (p-25) shall not be considered indebtedness for purposes of
20  any statutory debt limitation.
21  (p-30) In addition to all other authority to issue bonds,
22  Prairie Grove Consolidated School District 46 may issue bonds
23  with an aggregate principal amount not to exceed $30,000,000,
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 an election held in 2008.

 

 

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1  (ii) At the time of the sale of the bonds, the school
2  board determines, by resolution, that (A) the building and
3  equipping of a new school building and additions to
4  existing school buildings are required as a result of a
5  projected increase in the enrollment of students in the
6  district and (B) the altering, repairing, and equipping of
7  existing school buildings are required because of the age
8  of the existing school buildings.
9  (iii) The bonds are issued, in one or more bond
10  issuances, on or before December 31, 2012; however, the
11  aggregate principal amount issued in all such bond
12  issuances combined must not exceed $30,000,000.
13  (iv) The bonds are issued in accordance with this
14  Article.
15  (v) The proceeds of the bonds are used to accomplish
16  only those projects approved by the voters at an election
17  held in 2008.
18  The debt incurred on any bonds issued under this subsection
19  (p-30) shall not be considered indebtedness for purposes of
20  any statutory debt limitation.
21  (p-35) In addition to all other authority to issue bonds,
22  Prairie Hill Community Consolidated School District 133 may
23  issue bonds with an aggregate principal amount not to exceed
24  $13,900,000, but only if all of the following conditions are
25  met:
26  (i) The voters of the district approved a proposition

 

 

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1  for the bond issuance at an election held on April 17,
2  2007.
3  (ii) At the time of the sale of the bonds, the school
4  board determines, by resolution, that (A) the improvement
5  of the site of and the building and equipping of a school
6  building are required as a result of a projected increase
7  in the enrollment of students in the district and (B) the
8  repairing and equipping of the Prairie Hill Elementary
9  School building is required because of the age of that
10  school building.
11  (iii) The bonds are issued, in one or more bond
12  issuances, on or before December 31, 2011, but the
13  aggregate principal amount issued in all such bond
14  issuances combined must not exceed $13,900,000.
15  (iv) The bonds are issued in accordance with this
16  Article.
17  (v) The proceeds of the bonds are used to accomplish
18  only those projects approved by the voters at an election
19  held on April 17, 2007.
20  The debt incurred on any bonds issued under this subsection
21  (p-35) shall not be considered indebtedness for purposes of
22  any statutory debt limitation.
23  (p-40) In addition to all other authority to issue bonds,
24  Mascoutah Community Unit District 19 may issue bonds with an
25  aggregate principal amount not to exceed $55,000,000, but only
26  if all of the following conditions are met:

 

 

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1  (1) The voters of the district approve a proposition
2  for the bond issuance at a regular election held on or
3  after November 4, 2008.
4  (2) At the time of the sale of the bonds, the school
5  board determines, by resolution, that (i) the building and
6  equipping of a new high school building is required as a
7  result of a projected increase in the enrollment of
8  students in the district and the age and condition of the
9  existing high school building, (ii) the existing high
10  school building will be demolished, and (iii) the sale of
11  bonds is authorized by statute 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
15  issuances, on or before December 31, 2011, but the
16  aggregate principal amount issued in all such bond
17  issuances combined must not exceed $55,000,000.
18  (4) The bonds are issued in accordance with this
19  Article.
20  (5) The proceeds of the bonds are used to accomplish
21  only those projects approved by the voters at a regular
22  election held on or after November 4, 2008.
23  The debt incurred on any bonds issued under this
24  subsection (p-40) shall not be considered indebtedness for
25  purposes of any statutory debt limitation.
26  (p-45) Notwithstanding the provisions of subsection (a) of

 

 

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1  this Section or of any other law, bonds issued pursuant to
2  Section 19-3.5 of this Code shall not be considered
3  indebtedness for purposes of any statutory limitation if the
4  bonds are issued in an amount or amounts, including existing
5  indebtedness of the school district, not in excess of 18.5% of
6  the value of the taxable property in the district to be
7  ascertained by the last assessment for State and county taxes.
8  (p-50) Notwithstanding the provisions of subsection (a) of
9  this Section or of any other law, bonds issued pursuant to
10  Section 19-3.10 of this Code shall not be considered
11  indebtedness for purposes of any statutory limitation if the
12  bonds are issued in an amount or amounts, including existing
13  indebtedness of the school district, not in excess of 43% of
14  the value of the taxable property in the district to be
15  ascertained by the last assessment for State and county taxes.
16  (p-55) In addition to all other authority to issue bonds,
17  Belle Valley School District 119 may issue bonds with an
18  aggregate principal amount not to exceed $47,500,000, but only
19  if all of the following conditions are met:
20  (1) The voters of the district approve a proposition
21  for the bond issuance at an election held on or after April
22  7, 2009.
23  (2) Prior to the issuance of the bonds, the school
24  board determines, by resolution, that (i) the building and
25  equipping of a new school building is required as a result
26  of mine subsidence in an existing school building and

 

 

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1  because of the age and condition of another existing
2  school building and (ii) the issuance of bonds is
3  authorized by statute that exempts the debt incurred on
4  the bonds from the district's statutory debt limitation.
5  (3) The bonds are issued, in one or more bond
6  issuances, on or before March 31, 2014, but the aggregate
7  principal amount issued in all such bond issuances
8  combined must not exceed $47,500,000.
9  (4) The bonds are issued in accordance with this
10  Article.
11  (5) The proceeds of the bonds are used to accomplish
12  only those projects approved by the voters at an election
13  held on or after April 7, 2009.
14  The debt incurred on any bonds issued under this
15  subsection (p-55) shall not be considered indebtedness for
16  purposes of any statutory debt limitation. Bonds issued under
17  this subsection (p-55) must mature within not to exceed 30
18  years from their date, notwithstanding any other law to the
19  contrary.
20  (p-60) In addition to all other authority to issue bonds,
21  Wilmington Community Unit School District Number 209-U may
22  issue bonds with an aggregate principal amount not to exceed
23  $2,285,000, but only if all of the following conditions are
24  met:
25  (1) The proceeds of the bonds are used to accomplish
26  only those projects approved by the voters at the general

 

 

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1  primary election held on March 21, 2006.
2  (2) Prior to the issuance of the bonds, the school
3  board determines, by resolution, that (i) the projects
4  approved by the voters were and are required because of
5  the age and condition of the school district's prior and
6  existing school buildings and (ii) the issuance of the
7  bonds is authorized by legislation that exempts the debt
8  incurred on the bonds from the district's statutory debt
9  limitation.
10  (3) The bonds are issued in one or more bond issuances
11  on or before March 1, 2011, but the aggregate principal
12  amount issued in all those bond issuances combined must
13  not exceed $2,285,000.
14  (4) The bonds are issued in accordance with this
15  Article.
16  The debt incurred on any bonds issued under this
17  subsection (p-60) shall not be considered indebtedness for
18  purposes of any statutory debt limitation.
19  (p-65) In addition to all other authority to issue bonds,
20  West Washington County Community Unit School District 10 may
21  issue bonds with an aggregate principal amount not to exceed
22  $32,200,000 and maturing over a period not exceeding 25 years,
23  but only if all of the following conditions are met:
24  (1) The voters of the district approve a proposition
25  for the bond issuance at an election held on or after
26  February 2, 2010.

 

 

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1  (2) Prior to the issuance of the bonds, the school
2  board determines, by resolution, that (A) all or a portion
3  of the existing Okawville Junior/Senior High School
4  Building will be demolished; (B) the building and
5  equipping of a new school building to be attached to and
6  the alteration, repair, and equipping of the remaining
7  portion of the Okawville Junior/Senior High School
8  Building is required because of the age and current
9  condition of that school building; and (C) the issuance of
10  bonds is authorized by a statute that exempts the debt
11  incurred on the bonds from the district's statutory debt
12  limitation.
13  (3) The bonds are issued, in one or more bond
14  issuances, on or before March 31, 2014, but the aggregate
15  principal amount issued in all such bond issuances
16  combined must not exceed $32,200,000.
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 February 2, 2010.
22  The debt incurred on any bonds issued under this
23  subsection (p-65) shall not be considered indebtedness for
24  purposes of any statutory debt limitation.
25  (p-70) In addition to all other authority to issue bonds,
26  Cahokia Community Unit School District 187 may issue bonds

 

 

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1  with an aggregate principal amount not to exceed $50,000,000,
2  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 2, 2010.
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
10  and (ii) the issuance of bonds is authorized by a statute
11  that exempts the debt incurred on the bonds from the
12  district's statutory debt limitation.
13  (3) The bonds are issued, in one or more issuances, on
14  or before July 1, 2016, but the aggregate principal amount
15  issued in all such bond issuances combined must not exceed
16  $50,000,000.
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 2, 2010.
22  The debt incurred on any bonds issued under this
23  subsection (p-70) shall not be considered indebtedness for
24  purposes of any statutory debt limitation. Bonds issued under
25  this subsection (p-70) must mature within not to exceed 25
26  years from their date, notwithstanding any other law,

 

 

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1  including Section 19-3 of this Code, to the contrary.
2  (p-75) Notwithstanding the debt limitation prescribed in
3  subsection (a) of this Section or any other provisions of this
4  Section or of any other law, the execution of leases on or
5  after January 1, 2007 and before July 1, 2011 by the Board of
6  Education of Peoria School District 150 with a public building
7  commission for leases entered into pursuant to the Public
8  Building Commission Act shall not be considered indebtedness
9  for purposes of any statutory debt limitation.
10  This subsection (p-75) applies only if the State Board of
11  Education or the Capital Development Board makes one or more
12  grants to Peoria School District 150 pursuant to the School
13  Construction Law. The amount exempted from the debt limitation
14  as prescribed in this subsection (p-75) shall be no greater
15  than the amount of one or more grants awarded to Peoria School
16  District 150 by the State Board of Education or the Capital
17  Development Board.
18  (p-80) In addition to all other authority to issue bonds,
19  Ridgeland School District 122 may issue bonds with an
20  aggregate principal amount not to exceed $50,000,000 for the
21  purpose of refunding or continuing to refund bonds originally
22  issued pursuant to voter approval at the general election held
23  on November 7, 2000, and the debt incurred on any bonds issued
24  under this subsection (p-80) shall not be considered
25  indebtedness for purposes of any statutory debt limitation.
26  Bonds issued under this subsection (p-80) may be issued in one

 

 

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1  or more issuances and must mature within not to exceed 25 years
2  from their date, notwithstanding any other law, including
3  Section 19-3 of this Code, to the contrary.
4  (p-85) In addition to all other authority to issue bonds,
5  Hall High School District 502 may issue bonds with an
6  aggregate principal amount not to exceed $32,000,000, but only
7  if all the following conditions are met:
8  (1) The voters of the district approve a proposition
9  for the bond issuance at an election held on or after April
10  9, 2013.
11  (2) Prior to the issuance of the bonds, the school
12  board determines, by resolution, that (i) the building and
13  equipping of a new school building is required as a result
14  of the age and condition of an existing school building,
15  (ii) the existing school building should be demolished in
16  its entirety or the existing school building should be
17  demolished except for the 1914 west wing of the building,
18  and (iii) the issuance of bonds is authorized by a statute
19  that exempts the debt incurred on the bonds from the
20  district's statutory debt limitation.
21  (3) The bonds are issued, in one or more issuances,
22  not later than 5 years after the date of the referendum
23  approving the issuance of the bonds, but the aggregate
24  principal amount issued in all such bond issuances
25  combined must not exceed $32,000,000.
26  (4) The bonds are issued in accordance with this

 

 

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1  Article.
2  (5) The proceeds of the bonds are used to accomplish
3  only those projects approved by the voters at an election
4  held on or after April 9, 2013.
5  The debt incurred on any bonds issued under this
6  subsection (p-85) shall not be considered indebtedness for
7  purposes of any statutory debt limitation. Bonds issued under
8  this subsection (p-85) must mature within not to exceed 30
9  years from their date, notwithstanding any other law,
10  including Section 19-3 of this Code, to the contrary.
11  (p-90) In addition to all other authority to issue bonds,
12  Lebanon Community Unit School District 9 may issue bonds with
13  an aggregate principal amount not to exceed $7,500,000, but
14  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 the general primary election on
17  February 2, 2010.
18  (2) At or prior to the time of the sale of the bonds,
19  the school board determines, by resolution, that (i) the
20  building and equipping of a new elementary school building
21  is required as a result of a projected increase in the
22  enrollment of students in the district and the age and
23  condition of the existing Lebanon Elementary School
24  building, (ii) a portion of the existing Lebanon
25  Elementary School building will be demolished and the
26  remaining portion will be altered, repaired, and equipped,

 

 

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1  and (iii) the sale of bonds is authorized by a statute that
2  exempts the debt incurred on the bonds from the district's
3  statutory debt limitation.
4  (3) The bonds are issued, in one or more bond
5  issuances, on or before April 1, 2014, but the aggregate
6  principal amount issued in all such bond issuances
7  combined must not exceed $7,500,000.
8  (4) The bonds are issued in accordance with this
9  Article.
10  (5) The proceeds of the bonds are used to accomplish
11  only those projects approved by the voters at the general
12  primary election held on February 2, 2010.
13  The debt incurred on any bonds issued under this
14  subsection (p-90) shall not be considered indebtedness for
15  purposes of any statutory debt limitation.
16  (p-95) In addition to all other authority to issue bonds,
17  Monticello Community Unit School District 25 may issue bonds
18  with an aggregate principal amount not to exceed $35,000,000,
19  but only if all of the following conditions are met:
20  (1) The voters of the district approve a proposition
21  for the bond issuance at an election held on or after
22  November 4, 2014.
23  (2) Prior to the issuance of the bonds, the school
24  board determines, by resolution, that (i) the building and
25  equipping of a new school building is required as a result
26  of the age and condition of an existing school building

 

 

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1  and (ii) the issuance of bonds is authorized by a statute
2  that exempts the debt incurred on the bonds from the
3  district's statutory debt limitation.
4  (3) The bonds are issued, in one or more issuances, on
5  or before July 1, 2020, but the aggregate principal amount
6  issued in all such bond issuances combined must not exceed
7  $35,000,000.
8  (4) The bonds are issued in accordance with this
9  Article.
10  (5) The proceeds of the bonds are used to accomplish
11  only those projects approved by the voters at an election
12  held on or after November 4, 2014.
13  The debt incurred on any bonds issued under this
14  subsection (p-95) shall not be considered indebtedness for
15  purposes of any statutory debt limitation. Bonds issued under
16  this subsection (p-95) must mature within not to exceed 25
17  years from their date, notwithstanding any other law,
18  including Section 19-3 of this Code, to the contrary.
19  (p-100) In addition to all other authority to issue bonds,
20  the community unit school district created in the territory
21  comprising Milford Community Consolidated School District 280
22  and Milford Township High School District 233, as approved at
23  the general primary election held on March 18, 2014, may issue
24  bonds with an aggregate principal amount not to exceed
25  $17,500,000, but only if all the following conditions are met:
26  (1) The voters of the district approve a proposition

 

 

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1  for the bond issuance at an election held on or after
2  November 4, 2014.
3  (2) Prior to the issuance of the bonds, the school
4  board determines, by resolution, that (i) the building and
5  equipping of a new school building is required as a result
6  of the age and condition of an existing school building
7  and (ii) the issuance of bonds is authorized by a statute
8  that exempts the debt incurred on the bonds from the
9  district's statutory debt limitation.
10  (3) The bonds are issued, in one or more issuances, on
11  or before July 1, 2020, but the aggregate principal amount
12  issued in all such bond issuances combined must not exceed
13  $17,500,000.
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 November 4, 2014.
19  The debt incurred on any bonds issued under this
20  subsection (p-100) shall not be considered indebtedness for
21  purposes of any statutory debt limitation. Bonds issued under
22  this subsection (p-100) must mature within not to exceed 25
23  years from their date, notwithstanding any other law,
24  including Section 19-3 of this Code, to the contrary.
25  (p-105) In addition to all other authority to issue bonds,
26  North Shore School District 112 may issue bonds with an

 

 

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1  aggregate principal amount not to exceed $150,000,000, but
2  only if all of 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 March
5  15, 2016.
6  (2) Prior to the issuance of the bonds, the school
7  board determines, by resolution, that (i) the building and
8  equipping of new buildings and improving the sites thereof
9  and the building and equipping of additions to, altering,
10  repairing, equipping, and renovating existing buildings
11  and improving the sites thereof are required as a result
12  of the age and condition of the district's existing
13  buildings and (ii) the issuance of bonds is authorized by
14  a statute that exempts the debt incurred on the bonds from
15  the district's statutory debt limitation.
16  (3) The bonds are issued, in one or more issuances,
17  not later than 5 years after the date of the referendum
18  approving the issuance of the bonds, but the aggregate
19  principal amount issued in all such bond issuances
20  combined must not exceed $150,000,000.
21  (4) The bonds are issued in accordance with this
22  Article.
23  (5) The proceeds of the bonds are used to accomplish
24  only those projects approved by the voters at an election
25  held on or after March 15, 2016.
26  The debt incurred on any bonds issued under this

 

 

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1  subsection (p-105) and on any bonds issued to refund or
2  continue to refund such bonds shall not be considered
3  indebtedness for purposes of any statutory debt limitation.
4  Bonds issued under this subsection (p-105) and any bonds
5  issued to refund or continue to refund such bonds must mature
6  within not to exceed 30 years from their date, notwithstanding
7  any other law, including Section 19-3 of this Code, to the
8  contrary.
9  (p-110) In addition to all other authority to issue bonds,
10  Sandoval Community Unit School District 501 may issue bonds
11  with an aggregate principal amount not to exceed $2,000,000,
12  but only if all of the following conditions are met:
13  (1) The voters of the district approved a proposition
14  for the bond issuance at an election held on March 20,
15  2012.
16  (2) Prior to the issuance of the bonds, the school
17  board determines, by resolution, that (i) the building and
18  equipping of a new school building is required because of
19  the age and current condition of the Sandoval Elementary
20  School building and (ii) the issuance of bonds is
21  authorized by a statute that exempts the debt incurred on
22  the bonds from the district's statutory debt limitation.
23  (3) The bonds are issued, in one or more bond
24  issuances, on or before March 19, 2022, but the aggregate
25  principal amount issued in all such bond issuances
26  combined must not exceed $2,000,000.

 

 

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1  (4) The bonds are issued in accordance with this
2  Article.
3  (5) The proceeds of the bonds are used to accomplish
4  only those projects approved by the voters at the election
5  held on March 20, 2012.
6  The debt incurred on any bonds issued under this
7  subsection (p-110) and on any bonds issued to refund or
8  continue to refund the bonds shall not be considered
9  indebtedness for purposes of any statutory debt limitation.
10  (p-115) In addition to all other authority to issue bonds,
11  Bureau Valley Community Unit School District 340 may issue
12  bonds with an aggregate principal amount not to exceed
13  $25,000,000, but only if all of the following conditions are
14  met:
15  (1) The voters of the district approve a proposition
16  for the bond issuance at an election held on or after March
17  15, 2016.
18  (2) Prior to the issuances of the bonds, the school
19  board determines, by resolution, that (i) the renovating
20  and equipping of some existing school buildings, the
21  building and equipping of new school buildings, and the
22  demolishing of some existing school buildings are required
23  as a result of the age and condition of existing school
24  buildings and (ii) the issuance of bonds is authorized by
25  a statute that exempts the debt incurred on the bonds from
26  the district's statutory debt limitation.

 

 

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1  (3) The bonds are issued, in one or more issuances, on
2  or before July 1, 2021, but the aggregate principal amount
3  issued in all such bond issuances combined must not exceed
4  $25,000,000.
5  (4) The bonds are issued in accordance with this
6  Article.
7  (5) The proceeds of the bonds are used to accomplish
8  only those projects approved by the voters at an election
9  held on or after March 15, 2016.
10  The debt incurred on any bonds issued under this
11  subsection (p-115) shall not be considered indebtedness for
12  purposes of any statutory debt limitation. Bonds issued under
13  this subsection (p-115) must mature within not to exceed 30
14  years from their date, notwithstanding any other law,
15  including Section 19-3 of this Code, to the contrary.
16  (p-120) In addition to all other authority to issue bonds,
17  Paxton-Buckley-Loda Community Unit School District 10 may
18  issue bonds with an aggregate principal amount not to exceed
19  $28,500,000, but only if all the following conditions are met:
20  (1) The voters of the district approve a proposition
21  for the bond issuance at an election held on or after
22  November 8, 2016.
23  (2) Prior to the issuance of the bonds, the school
24  board determines, by resolution, that (i) the projects as
25  described in said proposition, relating to the building
26  and equipping of one or more school buildings or additions

 

 

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1  to existing school buildings, are required as a result of
2  the age and condition of the District's existing buildings
3  and (ii) the issuance of bonds is authorized by a statute
4  that exempts the debt incurred on the bonds from the
5  district's statutory debt limitation.
6  (3) The bonds are issued, in one or more issuances,
7  not later than 5 years after the date of the referendum
8  approving the issuance of the bonds, but the aggregate
9  principal amount issued in all such bond issuances
10  combined must not exceed $28,500,000.
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 an election
15  held on or after November 8, 2016.
16  The debt incurred on any bonds issued under this
17  subsection (p-120) and on any bonds issued to refund or
18  continue to refund such bonds shall not be considered
19  indebtedness for purposes of any statutory debt limitation.
20  Bonds issued under this subsection (p-120) and any bonds
21  issued to refund or continue to refund such bonds must mature
22  within not to exceed 25 years from their date, notwithstanding
23  any other law, including Section 19-3 of this Code, to the
24  contrary.
25  (p-125) In addition to all other authority to issue bonds,
26  Hillsboro Community Unit School District 3 may issue bonds

 

 

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1  with an aggregate principal amount not to exceed $34,500,000,
2  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 March
5  15, 2016.
6  (2) Prior to the issuance of the bonds, the school
7  board determines, by resolution, that (i) altering,
8  repairing, and equipping the high school
9  agricultural/vocational building, demolishing the high
10  school main, cafeteria, and gym buildings, building and
11  equipping a school building, and improving sites are
12  required as a result of the age and condition of the
13  district's existing buildings and (ii) the issuance of
14  bonds is authorized by a statute that exempts the debt
15  incurred on the bonds from the district's statutory debt
16  limitation.
17  (3) The bonds are issued, in one or more issuances,
18  not later than 5 years after the date of the referendum
19  approving the issuance of the bonds, but the aggregate
20  principal amount issued in all such bond issuances
21  combined must not exceed $34,500,000.
22  (4) The bonds are issued in accordance with this
23  Article.
24  (5) The proceeds of the bonds are used to accomplish
25  only those projects approved by the voters at an election
26  held on or after March 15, 2016.

 

 

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1  The debt incurred on any bonds issued under this
2  subsection (p-125) and on any bonds issued to refund or
3  continue to refund such bonds shall not be considered
4  indebtedness for purposes of any statutory debt limitation.
5  Bonds issued under this subsection (p-125) and any bonds
6  issued to refund or continue to refund such bonds must mature
7  within not to exceed 25 years from their date, notwithstanding
8  any other law, including Section 19-3 of this Code, to the
9  contrary.
10  (p-130) In addition to all other authority to issue bonds,
11  Waltham Community Consolidated School District 185 may incur
12  indebtedness in an aggregate principal amount not to exceed
13  $9,500,000 to build and equip a new school building and
14  improve the site thereof, but only if all the following
15  conditions are met:
16  (1) A majority of the voters of the district voting on
17  an advisory question voted in favor of the question
18  regarding the use of funding sources to build a new school
19  building without increasing property tax rates at the
20  general election held on November 8, 2016.
21  (2) Prior to incurring the debt, the school board
22  enters into intergovernmental agreements with the City of
23  LaSalle to pledge moneys in a special tax allocation fund
24  associated with tax increment financing districts LaSalle
25  I and LaSalle III and with the Village of Utica to pledge
26  moneys in a special tax allocation fund associated with

 

 

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1  tax increment financing district Utica I for the purposes
2  of repaying the debt issued pursuant to this subsection
3  (p-130). Notwithstanding any other provision of law to the
4  contrary, the intergovernmental agreement may extend these
5  tax increment financing districts as necessary to ensure
6  repayment of the debt.
7  (3) Prior to incurring the debt, the school board
8  determines, by resolution, that (i) the building and
9  equipping of a new school building is required as a result
10  of the age and condition of the district's existing
11  buildings and (ii) the debt is authorized by a statute
12  that exempts the debt from the district's statutory debt
13  limitation.
14  (4) The debt is incurred, in one or more issuances,
15  not later than January 1, 2021, and the aggregate
16  principal amount of debt issued in all such issuances
17  combined must not exceed $9,500,000.
18  The debt incurred under this subsection (p-130) and on any
19  bonds issued to pay, refund, or continue to refund such debt
20  shall not be considered indebtedness for purposes of any
21  statutory debt limitation. Debt issued under this subsection
22  (p-130) and any bonds issued to pay, refund, or continue to
23  refund such debt must mature within not to exceed 25 years from
24  their date, notwithstanding any other law, including Section
25  19-11 of this Code and subsection (b) of Section 17 of the
26  Local Government Debt Reform Act, to the contrary.

 

 

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1  (p-133) Notwithstanding the provisions of subsection (a)
2  of this Section or of any other law, bonds heretofore or
3  hereafter issued by East Prairie School District 73 with an
4  aggregate principal amount not to exceed $47,353,147 and
5  approved by the voters of the district at the general election
6  held on November 8, 2016, and any bonds issued to refund or
7  continue to refund the bonds, shall not be considered
8  indebtedness for the purposes of any statutory debt limitation
9  and may mature within not to exceed 25 years from their date,
10  notwithstanding any other law, including Section 19-3 of this
11  Code, to the contrary.
12  (p-135) In addition to all other authority to issue bonds,
13  Brookfield LaGrange Park School District Number 95 may issue
14  bonds with an aggregate principal amount not to exceed
15  $20,000,000, but only if all the following conditions are met:
16  (1) The voters of the district approve a proposition
17  for the bond issuance at an election held on or after April
18  4, 2017.
19  (2) Prior to the issuance of the bonds, the school
20  board determines, by resolution, that (i) the additions
21  and renovations to the Brook Park Elementary and S. E.
22  Gross Middle School buildings are required to accommodate
23  enrollment growth, replace outdated facilities, and create
24  spaces consistent with 21st century learning and (ii) the
25  issuance of the bonds is authorized by a statute that
26  exempts the debt incurred on the bonds from the district's

 

 

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HB2492- 67 -LRB103 26244 RJT 52604 b   HB2492 - 67 - LRB103 26244 RJT 52604 b
  HB2492 - 67 - LRB103 26244 RJT 52604 b
1  statutory debt limitation.
2  (3) The bonds are issued, in one or more issuances,
3  not later than 5 years after the date of the referendum
4  approving the issuance of the bonds, but the aggregate
5  principal amount issued in all such bond issuances
6  combined must not exceed $20,000,000.
7  (4) The bonds are issued in accordance with this
8  Article.
9  (5) The proceeds of the bonds are used to accomplish
10  only those projects approved by the voters at an election
11  held on or after April 4, 2017.
12  The debt incurred on any bonds issued under this
13  subsection (p-135) and on any bonds issued to refund or
14  continue to refund such bonds shall not be considered
15  indebtedness for purposes of any statutory debt limitation.
16  (p-140) The debt incurred on any bonds issued by Wolf
17  Branch School District 113 under Section 17-2.11 of this Code
18  for the purpose of repairing or replacing all or a portion of a
19  school building that has been damaged by mine subsidence in an
20  aggregate principal amount not to exceed $17,500,000 and on
21  any bonds issued to refund or continue to refund those bonds
22  shall not be considered indebtedness for purposes of any
23  statutory debt limitation and must mature no later than 25
24  years from the date of issuance, notwithstanding any other
25  provision of law to the contrary, including Section 19-3 of
26  this Code. The maximum allowable amount of debt exempt from

 

 

  HB2492 - 67 - LRB103 26244 RJT 52604 b


HB2492- 68 -LRB103 26244 RJT 52604 b   HB2492 - 68 - LRB103 26244 RJT 52604 b
  HB2492 - 68 - LRB103 26244 RJT 52604 b
1  statutory debt limitations under this subsection (p-140) shall
2  be reduced by an amount equal to any grants awarded by the
3  State Board of Education or Capital Development Board for the
4  explicit purpose of repairing or reconstructing a school
5  building damaged by mine subsidence.
6  (p-145) In addition to all other authority to issue bonds,
7  Greenview Community Unit School District 200 may issue bonds
8  with an aggregate principal amount not to exceed $3,500,000,
9  but only if all of the following conditions are met:
10  (1) The voters of the district approve a proposition
11  for the bond issuance at an election held on March 17,
12  2020.
13  (2) Prior to the issuance of the bonds, the school
14  board determines, by resolution, that the bonding is
15  necessary for construction and expansion of the district's
16  kindergarten through grade 12 facility.
17  (3) The bonds are issued, in one or more issuances,
18  not later than 5 years after the date of the referendum
19  approving the issuance of the bonds, but the aggregate
20  principal amount issued in all such bond issuances
21  combined must not exceed $3,500,000.
22  (4) The bonds are issued in accordance with this
23  Article.
24  (5) The proceeds of the bonds are used to accomplish
25  only the projects approved by the voters at an election
26  held on March 17, 2020.

 

 

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HB2492- 69 -LRB103 26244 RJT 52604 b   HB2492 - 69 - LRB103 26244 RJT 52604 b
  HB2492 - 69 - LRB103 26244 RJT 52604 b
1  The debt incurred on any bonds issued under this
2  subsection (p-145) and on any bonds issued to refund or
3  continue to refund such bonds shall not be considered
4  indebtedness for purposes of any statutory debt limitation.
5  Bonds issued under this subsection (p-145) and any bonds
6  issued to refund or continue to refund such bonds must mature
7  within not to exceed 25 years from their date, notwithstanding
8  any other law, including Section 19-3 of this Code, to the
9  contrary.
10  (p-150) In addition to all other authority to issue bonds,
11  Komarek School District 94 may issue bonds with an aggregate
12  principal amount not to exceed $20,800,000, but only if all of
13  the following conditions are met:
14  (1) The voters of the district approve a proposition
15  for the bond issuance at an election held on or after March
16  17, 2020.
17  (2) Prior to the issuance of the bonds, the school
18  board determines, by resolution, that (i) building and
19  equipping additions to, altering, repairing, equipping, or
20  demolishing a portion of, or improving the site of the
21  district's existing school building is required as a
22  result of the age and condition of the existing building
23  and (ii) the issuance of the bonds is authorized by a
24  statute that exempts the debt incurred on the bonds from
25  the district's statutory debt limitation.
26  (3) The bonds are issued, in one or more issuances, no

 

 

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HB2492- 70 -LRB103 26244 RJT 52604 b   HB2492 - 70 - LRB103 26244 RJT 52604 b
  HB2492 - 70 - LRB103 26244 RJT 52604 b
1  later than 5 years after the date of the referendum
2  approving the issuance of the bonds, but the aggregate
3  principal amount issued in all of the bond issuances
4  combined may not exceed $20,800,000.
5  (4) The bonds are issued in accordance with this
6  Article.
7  (5) The proceeds of the bonds are used to accomplish
8  only those projects approved by the voters at an election
9  held on or after March 17, 2020.
10  The debt incurred on any bonds issued under this
11  subsection (p-150) and on any bonds issued to refund or
12  continue to refund those bonds may not be considered
13  indebtedness for purposes of any statutory debt limitation.
14  Notwithstanding any other law to the contrary, including
15  Section 19-3, bonds issued under this subsection (p-150) and
16  any bonds issued to refund or continue to refund those bonds
17  must mature within 30 years from their date of issuance.
18  (p-155) In addition to all other authority to issue bonds,
19  Williamsville Community Unit School District 15 may issue
20  bonds with an aggregate principal amount not to exceed
21  $40,000,000, but only if all of the following conditions are
22  met:
23  (1) The voters of the school district approve a
24  proposition for the bond issuance at an election held on
25  March 17, 2020.
26  (2) Prior to the issuance of the bonds, the school

 

 

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HB2492- 71 -LRB103 26244 RJT 52604 b   HB2492 - 71 - LRB103 26244 RJT 52604 b
  HB2492 - 71 - LRB103 26244 RJT 52604 b
1  board determines, by resolution, that the projects set
2  forth in the proposition for the bond issuance were and
3  are required because of the age and condition of the
4  school district's existing school buildings.
5  (3) The bonds are issued, in one or more issuances,
6  not later than 5 years after the date of the referendum
7  approving the issuance of the bonds, but the aggregate
8  principal amount issued in all such bond issuances
9  combined must not exceed $40,000,000.
10  (4) The bonds are issued in accordance with this
11  Article.
12  (5) The proceeds of the bonds are used to accomplish
13  only the projects approved by the voters at an election
14  held on March 17, 2020.
15  The debt incurred on any bonds issued under this
16  subsection (p-155) and on any bonds issued to refund or
17  continue to refund such bonds shall not be considered
18  indebtedness for purposes of any statutory debt limitation.
19  Bonds issued under this subsection (p-155) and any bonds
20  issued to refund or continue to refund such bonds must mature
21  within not to exceed 25 years from their date, notwithstanding
22  any other law, including Section 19-3 of this Code, to the
23  contrary.
24  (p-160) In addition to all other authority to issue bonds,
25  Berkeley School District 87 may issue bonds with an aggregate
26  principal amount not to exceed $105,000,000, but only if all

 

 

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HB2492- 72 -LRB103 26244 RJT 52604 b   HB2492 - 72 - LRB103 26244 RJT 52604 b
  HB2492 - 72 - LRB103 26244 RJT 52604 b
1  of the following conditions are met:
2  (1) The voters of the district approve a proposition
3  for the bond issuance at the general primary election held
4  on March 17, 2020.
5  (2) Prior to the issuance of the bonds, the school
6  board determines, by resolution, that (i) building and
7  equipping a school building to replace the Sunnyside
8  Intermediate and MacArthur Middle School buildings;
9  building and equipping additions to and altering,
10  repairing, and equipping the Riley Intermediate and
11  Northlake Middle School buildings; altering, repairing,
12  and equipping the Whittier Primary and Jefferson Primary
13  School buildings; improving sites; renovating
14  instructional spaces; providing STEM (science, technology,
15  engineering, and mathematics) labs; and constructing life
16  safety, security, and infrastructure improvements are
17  required to replace outdated facilities and to provide
18  safe spaces consistent with 21st century learning and (ii)
19  the issuance of bonds is authorized by a statute that
20  exempts the debt incurred on the bonds from the district's
21  statutory debt limitation.
22  (3) The bonds are issued, in one or more issuances,
23  not later than 5 years after the date of the referendum
24  approving the issuance of the bonds, but the aggregate
25  principal amount issued in all such bond issuances
26  combined must not exceed $105,000,000.

 

 

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HB2492- 73 -LRB103 26244 RJT 52604 b   HB2492 - 73 - LRB103 26244 RJT 52604 b
  HB2492 - 73 - LRB103 26244 RJT 52604 b
1  (4) The bonds are issued in accordance with this
2  Article.
3  (5) 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 17, 2020.
6  The debt incurred on any bonds issued under this
7  subsection (p-160) and on any bonds issued to refund or
8  continue to refund such bonds shall not be considered
9  indebtedness for purposes of any statutory debt limitation.
10  (p-165) In addition to all other authority to issue bonds,
11  Elmwood Park Community Unit School District 401 may issue
12  bonds with an aggregate principal amount not to exceed
13  $55,000,000, but only if all of the following conditions are
14  met:
15  (1) The voters of the district approve a proposition
16  for the bond issuance at an election held on or after March
17  17, 2020.
18  (2) Prior to the issuance of the bonds, the school
19  board determines, by resolution, that (i) the building and
20  equipping of an addition to the John Mills Elementary
21  School building; the renovating, altering, repairing, and
22  equipping of the John Mills and Elmwood Elementary School
23  buildings; the installation of safety and security
24  improvements; and the improvement of school sites are
25  required as a result of the age and condition of the
26  district's existing school buildings and (ii) the issuance

 

 

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HB2492- 74 -LRB103 26244 RJT 52604 b   HB2492 - 74 - LRB103 26244 RJT 52604 b
  HB2492 - 74 - LRB103 26244 RJT 52604 b
1  of bonds is authorized by a statute that exempts the debt
2  incurred on the bonds from the district's statutory debt
3  limitation.
4  (3) The bonds are issued, in one or more issuances,
5  not later than 5 years after the date of the referendum
6  approving the issuance of the bonds, but the aggregate
7  principal amount issued in all such bond issuances
8  combined must not exceed $55,000,000.
9  (4) The bonds are issued in accordance with this
10  Article.
11  (5) The proceeds of the bonds are used to accomplish
12  only the projects approved by the voters at an election
13  held on or after March 17, 2020.
14  The debt incurred on any bonds issued under this
15  subsection (p-165) and on any bonds issued to refund or
16  continue to refund such bonds shall not be considered
17  indebtedness for purposes of any statutory debt limitation.
18  Bonds issued under this subsection (p-165) and any bonds
19  issued to refund or continue to refund such bonds must mature
20  within not to exceed 25 years from their date, notwithstanding
21  any other law, including Section 19-3 of this Code, to the
22  contrary.
23  (p-170) In addition to all other authority to issue bonds,
24  Maroa-Forsyth Community Unit School District 2 may issue bonds
25  with an aggregate principal amount not to exceed $33,000,000,
26  but only if all of the following conditions are met:

 

 

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HB2492- 75 -LRB103 26244 RJT 52604 b   HB2492 - 75 - LRB103 26244 RJT 52604 b
  HB2492 - 75 - LRB103 26244 RJT 52604 b
1  (1) The voters of the school district approve a
2  proposition for the bond issuance at an election held on
3  March 17, 2020.
4  (2) Prior to the issuance of the bonds, the school
5  board determines, by resolution, that the projects set
6  forth in the proposition for the bond issuance were and
7  are required because of the age and condition of the
8  school district's existing school buildings.
9  (3) The bonds are issued, in one or more issuances,
10  not later than 5 years after the date of the referendum
11  approving the issuance of the bonds, but the aggregate
12  principal amount issued in all such bond issuances
13  combined must not exceed $33,000,000.
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 the projects approved by the voters at an election
18  held on March 17, 2020.
19  The debt incurred on any bonds issued under this
20  subsection (p-170) and on any bonds issued to refund or
21  continue to refund such bonds shall not be considered
22  indebtedness for purposes of any statutory debt limitation.
23  Bonds issued under this subsection (p-170) and any bonds
24  issued to refund or continue to refund such bonds must mature
25  within not to exceed 25 years from their date, notwithstanding
26  any other law, including Section 19-3 of this Code, to the

 

 

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  HB2492 - 76 - LRB103 26244 RJT 52604 b
1  contrary.
2  (p-175) In addition to all other authority to issue bonds,
3  Schiller Park School District 81 may issue bonds with an
4  aggregate principal amount not to exceed $30,000,000, 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  17, 2020.
9  (2) Prior to the issuance of the bonds, the school
10  board determines, by resolution, that (i) building and
11  equipping a school building to replace the Washington
12  Elementary School building, installing fire suppression
13  systems, security systems, and federal Americans with
14  Disability Act of 1990 compliance measures, acquiring
15  land, and improving the site are required to accommodate
16  enrollment growth, replace an outdated facility, and
17  create spaces consistent with 21st century learning and
18  (ii) the issuance of bonds is authorized by a statute that
19  exempts the debt incurred on the bonds from the district's
20  statutory debt limitation.
21  (3) The bonds are issued, in one or more issuances,
22  not later than 5 years after the date of the referendum
23  approving the issuance of the bonds, but the aggregate
24  principal amount issued in all such bond issuances
25  combined must not exceed $30,000,000.
26  (4) The bonds are issued in accordance with this

 

 

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HB2492- 77 -LRB103 26244 RJT 52604 b   HB2492 - 77 - LRB103 26244 RJT 52604 b
  HB2492 - 77 - LRB103 26244 RJT 52604 b
1  Article.
2  (5) The proceeds of the bonds are used to accomplish
3  only the projects approved by the voters at an election
4  held on or after March 17, 2020.
5  The debt incurred on any bonds issued under this
6  subsection (p-175) and on any bonds issued to refund or
7  continue to refund such bonds shall not be considered
8  indebtedness for purposes of any statutory debt limitation.
9  Bonds issued under this subsection (p-175) and any bonds
10  issued to refund or continue to refund such bonds must mature
11  within not to exceed 27 years from their date, notwithstanding
12  any other law, including Section 19-3 of this Code, to the
13  contrary.
14  (p-180) In addition to all other authority to issue bonds,
15  Iroquois County Community Unit School District 9 may issue
16  bonds with an aggregate principal amount not to exceed
17  $17,125,000, but only if all of the following conditions are
18  met:
19  (1) The voters of the district approve a proposition
20  for the bond issuance at an election held on or after April
21  6, 2021.
22  (2) Prior to the issuance of the bonds, the school
23  board determines, by resolution, that (i) building and
24  equipping a new school building in the City of Watseka;
25  altering, repairing, renovating, and equipping portions of
26  the existing facilities of the district; and making site

 

 

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HB2492- 78 -LRB103 26244 RJT 52604 b   HB2492 - 78 - LRB103 26244 RJT 52604 b
  HB2492 - 78 - LRB103 26244 RJT 52604 b
1  improvements is necessary because of the age and condition
2  of the district's existing school facilities and (ii) the
3  issuance of bonds is authorized by a statute that exempts
4  the debt incurred on the bonds from the district's
5  statutory debt limitation.
6  (3) The bonds are issued, in one or more issuances,
7  not later than 5 years after the date of the referendum
8  approving the issuance of the bonds, but the aggregate
9  principal amount issued in all such bond issuances
10  combined must not exceed $17,125,000.
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 the projects approved by the voters at an election
15  held on or after April 6, 2021.
16  The debt incurred on any bonds issued under this
17  subsection (p-180) and on any bonds issued to refund or
18  continue to refund such bonds shall not be considered
19  indebtedness for purposes of any statutory debt limitation.
20  Bonds issued under this subsection (p-180) and any bonds
21  issued to refund or continue to refund such bonds must mature
22  within not to exceed 25 years from their date, notwithstanding
23  any other law, including Section 19-3 of this Code, to the
24  contrary.
25  (p-185) In addition to all other authority to issue bonds,
26  Field Community Consolidated School District 3 may issue bonds

 

 

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  HB2492 - 79 - LRB103 26244 RJT 52604 b
1  with an aggregate principal amount not to exceed $2,600,000,
2  but only if all of 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 April
5  6, 2021.
6  (2) Prior to the issuance of the bonds, the school
7  board determines, by resolution, that (i) it is necessary
8  to alter, repair, renovate, and equip the existing
9  facilities of the district, including, but not limited to,
10  roof replacement, lighting replacement, electrical
11  upgrades, restroom repairs, and gym renovations, and make
12  site improvements because of the age and condition of the
13  district's existing school facilities and (ii) the
14  issuance of bonds is authorized by a statute that exempts
15  the debt incurred on the bonds from the district's
16  statutory debt limitation.
17  (3) The bonds are issued, in one or more issuances,
18  not later than 5 years after the date of the referendum
19  approving the issuance of the bonds, but the aggregate
20  principal amount issued in all such bond issuances
21  combined must not exceed $2,600,000.
22  (4) The bonds are issued in accordance with this
23  Article.
24  (5) The proceeds of the bonds are used to accomplish
25  only the projects approved by the voters at an election
26  held on or after April 6, 2021.

 

 

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1  The debt incurred on any bonds issued under this
2  subsection (p-185) and on any bonds issued to refund or
3  continue to refund such bonds shall not be considered
4  indebtedness for purposes of any statutory debt limitation.
5  Bonds issued under this subsection (p-185) and any bonds
6  issued to refund or continue to refund such bonds must mature
7  within not to exceed 25 years from their date, notwithstanding
8  any other law, including Section 19-3 of this Code, to the
9  contrary.
10  (p-190) In addition to all other authority to issue bonds,
11  Mahomet-Seymour Community Unit School District 3 may issue
12  bonds with an aggregate principal amount not to exceed
13  $97,900,000, but only if all the following conditions are met:
14  (1) The voters of the district approve a proposition
15  for the bond issuance at an election held on or after June
16  28, 2022.
17  (2) Prior to the issuance of the bonds, the school
18  board determines, by resolution, that (i) it is necessary
19  to build and equip a new junior high school building,
20  build and equip a new transportation building, and build
21  and equip additions to, renovate, and make site
22  improvements at the Lincoln Trail Elementary building,
23  Middletown Prairie Elementary building, and
24  Mahomet-Seymour High School building and (ii) the issuance
25  of bonds is authorized by a statute that exempts the debt
26  incurred on the bonds from the district's statutory debt

 

 

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HB2492- 81 -LRB103 26244 RJT 52604 b   HB2492 - 81 - LRB103 26244 RJT 52604 b
  HB2492 - 81 - LRB103 26244 RJT 52604 b
1  limitation.
2  (3) The bonds are issued, in one or more issuances,
3  not later than 5 years after the date of the referendum
4  approving the issuance of the bonds, but the aggregate
5  principal amount issued in all such bond issuances
6  combined must not exceed $97,900,000.
7  (4) The bonds are issued in accordance with this
8  Article.
9  (5) The proceeds of the bonds are used to accomplish
10  only the projects approved by the voters at an election
11  held on or after June 28, 2022.
12  The debt incurred on any bonds issued under this
13  subsection (p-190) and on any bonds issued to refund or
14  continue to refund such bonds shall not be considered
15  indebtedness for purposes of any statutory debt limitation.
16  Bonds issued under this subsection (p-190) and any bonds
17  issued to refund or continue to refund such bonds must mature
18  within not to exceed 25 years from their date, notwithstanding
19  any other law, including Section 19-3 of this Code, to the
20  contrary.
21  (p-195) In addition to all other authority to issue bonds,
22  New Berlin Community Unit School District 16 may issue bonds
23  with an aggregate principal amount not to exceed $23,500,000,
24  but only if all 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 June

 

 

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1  28, 2022.
2  (2) Prior to the issuance of the bonds, the school
3  board determines, by resolution, that (i) it is necessary
4  to alter, repair, and equip the junior/senior high school
5  building, including creating new classroom, gym, and other
6  instructional spaces, renovating the J.V. Kirby Pretzel
7  Dome, improving heating, cooling, and ventilation systems,
8  installing school safety and security improvements,
9  removing asbestos, and making site improvements, and (ii)
10  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,
14  not later than 5 years after the date of the referendum
15  approving the issuance of the bonds, but the aggregate
16  principal amount issued in all such bond issuances
17  combined must not exceed $23,500,000.
18  (4) The bonds are issued in accordance with this
19  Article.
20  (5) The proceeds of the bonds are used to accomplish
21  only the projects approved by the voters at an election
22  held on or after June 28, 2022.
23  The debt incurred on any bonds issued under this
24  subsection (p-195) and on any bonds issued to refund or
25  continue to refund such bonds shall not be considered
26  indebtedness for purposes of any statutory debt limitation.

 

 

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1  Bonds issued under this subsection (p-195) and any bonds
2  issued to refund or continue to refund such bonds must mature
3  within not to exceed 25 years from their date, notwithstanding
4  any other law, including Section 19-3 of this Code, to the
5  contrary.
6  (p-200) In addition to all other authority to issue bonds,
7  Highland Community Unit School District 5 may issue bonds with
8  an aggregate principal amount not to exceed $40,000,000, but
9  only if all the following conditions are met:
10  (1) The voters of the district approve a proposition
11  for the bond issuance at an election held on or after June
12  28, 2022.
13  (2) Prior to the issuance of the bonds, the school
14  board determines, by resolution, that (i) it is necessary
15  to improve the sites of, build, and equip a new primary
16  school building and build and equip additions to and
17  alter, repair, and equip existing school buildings and
18  (ii) the issuance of bonds is authorized by a statute that
19  exempts the debt incurred on the bonds from the district's
20  statutory debt limitation.
21  (3) The bonds are issued, in one or more issuances,
22  not later than 5 years after the date of the referendum
23  approving the issuance of the bonds, but the aggregate
24  principal amount issued in all such bond issuances
25  combined must not exceed $40,000,000.
26  (4) The bonds are issued in accordance with this

 

 

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1  Article.
2  (5) The proceeds of the bonds are used to accomplish
3  only the projects approved by the voters at an election
4  held on or after June 28, 2022.
5  The debt incurred on any bonds issued under this
6  subsection (p-200) and on any bonds issued to refund or
7  continue to refund such bonds shall not be considered
8  indebtedness for purposes of any statutory debt limitation.
9  Bonds issued under this subsection (p-200) and any bonds
10  issued to refund or continue to refund such bonds must mature
11  within not to exceed 25 years from their date, notwithstanding
12  any other law, including Section 19-3 of this Code, to the
13  contrary.
14  (p-205) In addition to all other authority to issue bonds,
15  Sullivan Community Unit School District 300 may issue bonds
16  with an aggregate principal amount not to exceed $25,000,000,
17  but only if all of the following conditions are met:
18  (1) The voters of the district approve a proposition
19  for the bond issuance at an election held on or after June
20  28, 2022.
21  (2) Prior to the issuance of the bonds, the school
22  board determines, by resolution, that (i) the projects set
23  forth in the proposition for the issuance of the bonds are
24  required because of the age, condition, or capacity of the
25  school district's existing school buildings and (ii) the
26  issuance of bonds is authorized by a statute that exempts

 

 

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1  the debt incurred on the bonds from the district's
2  statutory debt limitation.
3  (3) The bonds are issued, in one or more issuances,
4  not later than 5 years after the date of the referendum
5  approving the issuance of the bonds, but the aggregate
6  principal amount issued in all such bond issuances
7  combined must not exceed $25,000,000.
8  (4) The bonds are issued in accordance with this
9  Article.
10  (5) The proceeds of the bonds are used to accomplish
11  only the projects approved by the voters at an election
12  held on or after June 28, 2022.
13  The debt incurred on any bonds issued under this
14  subsection (p-205) and on any bonds issued to refund or
15  continue to refund such bonds shall not be considered
16  indebtedness for purposes of any statutory debt limitation.
17  Bonds issued under this subsection (p-205) and any bonds
18  issued to refund or continue to refund such bonds must mature
19  within not to exceed 25 years from their date, notwithstanding
20  any other law, including Section 19-3 of this Code, to the
21  contrary.
22  (p-210) In addition to all other authority to issue bonds,
23  Manhattan School District 114 may issue bonds with an
24  aggregate principal amount not to exceed $85,000,000, but only
25  if all the following conditions are met:
26  (1) The voters of the district approve a proposition

 

 

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1  for the bond issuance at an election held on or after June
2  28, 2022.
3  (2) Prior to the issuance of the bonds, the school
4  board determines, by resolution, that the projects set
5  forth in the proposition for the bond issuance were and
6  are required because of the age, condition, or capacity of
7  the school district's existing school buildings.
8  (3) The bonds are issued, in one or more issuances,
9  not later than 5 years after the date of the referendum
10  approving the issuances of the bonds, but the aggregate
11  principal amount issued in all such bond issuances
12  combined must not exceed $85,000,000.
13  (4) The bonds are issued in accordance with this
14  Article.
15  (5) The proceeds of the bonds are used to accomplish
16  only the projects approved by the voters at an election
17  held on or after June 28, 2022.
18  The debt incurred on any bonds issued under this
19  subsection (p-210) and on any bonds issued to refund or
20  continue to refund such bonds shall not be considered
21  indebtedness for purposes of any statutory debt limitation.
22  Bonds issued under this subsection (p-210) and any bonds
23  issued to refund or continue to refund such bonds must mature
24  within not to exceed 30 years from their date, notwithstanding
25  any other law, including Section 19-3 of this Code, to the
26  contrary.

 

 

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1  (p-215) In addition to all other authority to issue bonds,
2  Golf Elementary School District 67 may issue bonds with an
3  aggregate principal amount not to exceed $56,000,000, but only
4  if all of the following conditions are met:
5  (1) The voters of the district approve a proposition
6  for the bond issuance at an election held on or after June
7  28, 2022.
8  (2) Prior to the issuance of the bonds, the school
9  board determines, by resolution, that (i) it is necessary
10  to build and equip a new school building and improve the
11  site thereof and (ii) the issuance of bonds is authorized
12  by a statute that exempts the debt incurred on the bonds
13  from the district's statutory debt limitation.
14  (3) The bonds are issued, in one or more issuances,
15  not later than 5 years after the date of the referendum
16  approving the issuance of the bonds, but the aggregate
17  principal amount issued in all such bond issuances
18  combined must not exceed $56,000,000.
19  (4) The bonds are issued in accordance with this
20  Article.
21  (5) The proceeds of the bonds are used to accomplish
22  only the projects approved by the voters at an election
23  held on or after June 28, 2022.
24  The debt incurred on any bonds issued under this
25  subsection (p-215) and on any bonds issued to refund or
26  continue to refund such bonds shall not be considered

 

 

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1  indebtedness for purposes of any statutory debt limitation.
2  Bonds issued under this subsection (p-215) and any bonds
3  issued to refund or continue to refund such bonds must mature
4  within not to exceed 25 years from their date, notwithstanding
5  any other law, including Section 19-3 of this Code, to the
6  contrary.
7  (p-220) Notwithstanding the provisions of subsection (a)
8  of this Section or of any other law, a school district may
9  issue bonds or certificates to finance guaranteed energy
10  savings contracts pursuant to Article 19b of this Code, and
11  any bonds or certificates so issued shall not be considered
12  indebtedness for purposes of any statutory limitation and may
13  be issued in an amount or amounts, including existing
14  indebtedness, in excess of any heretofore or hereafter imposed
15  statutory limitation as to indebtedness.
16  (q) A school district must notify the State Board of
17  Education prior to issuing any form of long-term or short-term
18  debt that will result in outstanding debt that exceeds 75% of
19  the debt limit specified in this Section or any other
20  provision of law.
21  (Source: P.A. 101-646, eff. 6-26-20; 102-316, eff. 8-6-21;
22  102-949, eff. 5-27-22.)
23  (105 ILCS 5/19b-5.5 new)
24  Sec. 19b-5.5. Indebtedness and bonds; tax levy.
25  (a) The school board of any school district, whether

 

 

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1  organized under a general law or special charter, having a
2  population of less than 500,000 inhabitants may, by
3  resolution, incur an indebtedness and issue bonds as evidence
4  thereof in an amount or amounts not exceeding the aggregate
5  cost of all expenditures reasonably expected to be incurred
6  pursuant to a guaranteed energy savings contract entered into
7  in accordance with this Article. The bonds shall bear interest
8  at not more than the maximum rate authorized by law and shall
9  mature within 20 years from the date thereof.
10  (b) A certified copy of the resolution authorizing the
11  issuance of bonds under this Section shall be filed with the
12  county clerk of each county in which any portion of any such
13  district is situated and the county clerk shall annually
14  extend taxes against all of the taxable property situated in
15  the county and contained in such district in amounts
16  sufficient to pay maturing principal and interest of such
17  bonds without limitation as to rate or amount and in addition
18  to and in excess of any taxes that may now or hereafter be
19  authorized to be levied.
20  (105 ILCS 5/19b-6) (from Ch. 122, par. 19b-6)
21  Sec. 19b-6. Term; budget and appropriations. Guaranteed
22  energy savings contracts may extend beyond the fiscal year in
23  which they become effective. The school district or area
24  vocational center shall include in its annual budget and
25  appropriations measures for each subsequent fiscal year any

 

 

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1  amounts payable under guaranteed energy savings contracts
2  during that fiscal year. Sections 2-3.12 and , 3-14.20, and
3  10-22.36 of this the School Code shall apply to this Article
4  19b.
5  (Source: P.A. 92-767, eff. 8-6-02.)

 

 

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