Illinois House Bill HB2492 Latest Draft

                            HB2492 EngrossedLRB103 26244 RJT 52604 b   HB2492 Engrossed  LRB103 26244 RJT 52604 b
  HB2492 Engrossed  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 School Code is amended by changing Sections
5  19-1 and 19b-6 and by adding Section 19b-5.5 as follows:
6  (105 ILCS 5/19-1)
7  Sec. 19-1. Debt limitations of school districts.
8  (a) School districts shall not be subject to the
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

 

  HB2492 Engrossed  LRB103 26244 RJT 52604 b


HB2492 Engrossed- 2 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 2 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 2 - LRB103 26244 RJT 52604 b
1  13.8% on the value of the taxable property therein to be
2  ascertained by the last assessment for State and county taxes
3  or, until January 1, 1983, if greater, the sum that is produced
4  by multiplying the school district's 1978 equalized assessed
5  valuation by the debt limitation percentage in effect on
6  January 1, 1979, previous to the incurring of such
7  indebtedness.
8  No partial elementary unit district, as defined in Article
9  11E of this Code, shall become indebted in any manner or for
10  any purpose in an amount, including existing indebtedness, in
11  the aggregate exceeding 6.9% of the value of the taxable
12  property of the entire district, to be ascertained by the last
13  assessment for State and county taxes, plus an amount,
14  including existing indebtedness, in the aggregate exceeding
15  6.9% of the value of the taxable property of that portion of
16  the district included in the elementary and high school
17  classification, to be ascertained by the last assessment for
18  State and county taxes. Moreover, no partial elementary unit
19  district, as defined in Article 11E of this Code, shall become
20  indebted on account of bonds issued by the district for high
21  school purposes in the aggregate exceeding 6.9% of the value
22  of the taxable property of the entire district, to be
23  ascertained by the last assessment for State and county taxes,
24  nor shall the district become indebted on account of bonds
25  issued by the district for elementary purposes in the
26  aggregate exceeding 6.9% of the value of the taxable property

 

 

  HB2492 Engrossed - 2 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 3 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 3 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 3 - LRB103 26244 RJT 52604 b
1  for that portion of the district included in the elementary
2  and high school classification, to be ascertained by the last
3  assessment for State and county taxes.
4  Notwithstanding the provisions of any other law to the
5  contrary, in any case in which the voters of a school district
6  have approved a proposition for the issuance of bonds of such
7  school district at an election held prior to January 1, 1979,
8  and all of the bonds approved at such election have not been
9  issued, the debt limitation applicable to such school district
10  during the calendar year 1979 shall be computed by multiplying
11  the value of taxable property therein, including personal
12  property, as ascertained by the last assessment for State and
13  county taxes, previous to the incurring of such indebtedness,
14  by the percentage limitation applicable to such school
15  district under the provisions of this subsection (a).
16  (a-5) After January 1, 2018, no school district may issue
17  bonds under Sections 19-2 through 19-7 of this Code and rely on
18  an exception to the debt limitations in this Section unless it
19  has complied with the requirements of Section 21 of the Bond
20  Issue Notification Act and the bonds have been approved by
21  referendum.
22  (b) Notwithstanding the debt limitation prescribed in
23  subsection (a) of this Section, additional indebtedness may be
24  incurred in an amount not to exceed the estimated cost of
25  acquiring or improving school sites or constructing and
26  equipping additional building facilities under the following

 

 

  HB2492 Engrossed - 3 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 4 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 4 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 4 - LRB103 26244 RJT 52604 b
1  conditions:
2  (1) Whenever the enrollment of students for the next
3  school year is estimated by the board of education to
4  increase over the actual present enrollment by not less
5  than 35% or by not less than 200 students or the actual
6  present enrollment of students has increased over the
7  previous school year by not less than 35% or by not less
8  than 200 students and the board of education determines
9  that additional school sites or building facilities are
10  required as a result of such increase in enrollment; and
11  (2) When the Regional Superintendent of Schools having
12  jurisdiction over the school district and the State
13  Superintendent of Education concur in such enrollment
14  projection or increase and approve the need for such
15  additional school sites or building facilities and the
16  estimated cost thereof; and
17  (3) When the voters in the school district approve a
18  proposition for the issuance of bonds for the purpose of
19  acquiring or improving such needed school sites or
20  constructing and equipping such needed additional building
21  facilities at an election called and held for that
22  purpose. Notice of such an election shall state that the
23  amount of indebtedness proposed to be incurred would
24  exceed the debt limitation otherwise applicable to the
25  school district. The ballot for such proposition shall
26  state what percentage of the equalized assessed valuation

 

 

  HB2492 Engrossed - 4 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 5 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 5 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 5 - LRB103 26244 RJT 52604 b
1  will be outstanding in bonds if the proposed issuance of
2  bonds is approved by the voters; or
3  (4) Notwithstanding the provisions of paragraphs (1)
4  through (3) of this subsection (b), if the school board
5  determines that additional facilities are needed to
6  provide a quality educational program and not less than
7  2/3 of those voting in an election called by the school
8  board on the question approve the issuance of bonds for
9  the construction of such facilities, the school district
10  may issue bonds for this purpose; or
11  (5) Notwithstanding the provisions of paragraphs (1)
12  through (3) of this subsection (b), if (i) the school
13  district has previously availed itself of the provisions
14  of paragraph (4) of this subsection (b) to enable it to
15  issue bonds, (ii) the voters of the school district have
16  not defeated a proposition for the issuance of bonds since
17  the referendum described in paragraph (4) of this
18  subsection (b) was held, (iii) the school board determines
19  that additional facilities are needed to provide a quality
20  educational program, and (iv) a majority of those voting
21  in an election called by the school board on the question
22  approve the issuance of bonds for the construction of such
23  facilities, the school district may issue bonds for this
24  purpose.
25  In no event shall the indebtedness incurred pursuant to
26  this subsection (b) and the existing indebtedness of the

 

 

  HB2492 Engrossed - 5 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 6 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 6 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 6 - LRB103 26244 RJT 52604 b
1  school district exceed 15% of the value of the taxable
2  property therein to be ascertained by the last assessment for
3  State and county taxes, previous to the incurring of such
4  indebtedness or, until January 1, 1983, if greater, the sum
5  that is produced by multiplying the school district's 1978
6  equalized assessed valuation by the debt limitation percentage
7  in effect on January 1, 1979.
8  The indebtedness provided for by this subsection (b) shall
9  be in addition to and in excess of any other debt limitation.
10  (c) Notwithstanding the debt limitation prescribed in
11  subsection (a) of this Section, in any case in which a public
12  question for the issuance of bonds of a proposed school
13  district maintaining grades kindergarten through 12 received
14  at least 60% of the valid ballots cast on the question at an
15  election held on or prior to November 8, 1994, and in which the
16  bonds approved at such election have not been issued, the
17  school district pursuant to the requirements of Section 11A-10
18  (now repealed) may issue the total amount of bonds approved at
19  such election for the purpose stated in the question.
20  (d) Notwithstanding the debt limitation prescribed in
21  subsection (a) of this Section, a school district that meets
22  all the criteria set forth in paragraphs (1) and (2) of this
23  subsection (d) may incur an additional indebtedness in an
24  amount not to exceed $4,500,000, even though the amount of the
25  additional indebtedness authorized by this subsection (d),
26  when incurred and added to the aggregate amount of

 

 

  HB2492 Engrossed - 6 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 7 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 7 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 7 - LRB103 26244 RJT 52604 b
1  indebtedness of the district existing immediately prior to the
2  district incurring the additional indebtedness authorized by
3  this subsection (d), causes the aggregate indebtedness of the
4  district to exceed the debt limitation otherwise applicable to
5  that district under subsection (a):
6  (1) The additional indebtedness authorized by this
7  subsection (d) is incurred by the school district through
8  the issuance of bonds under and in accordance with Section
9  17-2.11a for the purpose of replacing a school building
10  which, because of mine subsidence damage, has been closed
11  as provided in paragraph (2) of this subsection (d) or
12  through the issuance of bonds under and in accordance with
13  Section 19-3 for the purpose of increasing the size of, or
14  providing for additional functions in, such replacement
15  school buildings, or both such purposes.
16  (2) The bonds issued by the school district as
17  provided in paragraph (1) above are issued for the
18  purposes of construction by the school district of a new
19  school building pursuant to Section 17-2.11, to replace an
20  existing school building that, because of mine subsidence
21  damage, is closed as of the end of the 1992-93 school year
22  pursuant to action of the regional superintendent of
23  schools of the educational service region in which the
24  district is located under Section 3-14.22 or are issued
25  for the purpose of increasing the size of, or providing
26  for additional functions in, the new school building being

 

 

  HB2492 Engrossed - 7 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 8 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 8 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 8 - LRB103 26244 RJT 52604 b
1  constructed to replace a school building closed as the
2  result of mine subsidence damage, or both such purposes.
3  (e) (Blank).
4  (f) Notwithstanding the provisions of subsection (a) of
5  this Section or of any other law, bonds in not to exceed the
6  aggregate amount of $5,500,000 and issued by a school district
7  meeting the following criteria shall not be considered
8  indebtedness for purposes of any statutory limitation and may
9  be issued in an amount or amounts, including existing
10  indebtedness, in excess of any heretofore or hereafter imposed
11  statutory limitation as to indebtedness:
12  (1) At the time of the sale of such bonds, the board of
13  education of the district shall have determined by
14  resolution that the enrollment of students in the district
15  is projected to increase by not less than 7% during each of
16  the next succeeding 2 school years.
17  (2) The board of education shall also determine by
18  resolution that the improvements to be financed with the
19  proceeds of the bonds are needed because of the projected
20  enrollment increases.
21  (3) The board of education shall also determine by
22  resolution that the projected increases in enrollment are
23  the result of improvements made or expected to be made to
24  passenger rail facilities located in the school district.
25  Notwithstanding the provisions of subsection (a) of this
26  Section or of any other law, a school district that has availed

 

 

  HB2492 Engrossed - 8 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 9 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 9 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 9 - LRB103 26244 RJT 52604 b
1  itself of the provisions of this subsection (f) prior to July
2  22, 2004 (the effective date of Public Act 93-799) may also
3  issue bonds approved by referendum up to an amount, including
4  existing indebtedness, not exceeding 25% of the equalized
5  assessed value of the taxable property in the district if all
6  of the conditions set forth in items (1), (2), and (3) of this
7  subsection (f) are met.
8  (g) Notwithstanding the provisions of subsection (a) of
9  this Section or any other law, bonds in not to exceed an
10  aggregate amount of 25% of the equalized assessed value of the
11  taxable property of a school district and issued by a school
12  district meeting the criteria in paragraphs (i) through (iv)
13  of this subsection shall not be considered indebtedness for
14  purposes of any statutory limitation and may be issued
15  pursuant to resolution of the school board in an amount or
16  amounts, including existing indebtedness, in excess of any
17  statutory limitation of indebtedness heretofore or hereafter
18  imposed:
19  (i) The bonds are issued for the purpose of
20  constructing a new high school building to replace two
21  adjacent existing buildings which together house a single
22  high school, each of which is more than 65 years old, and
23  which together are located on more than 10 acres and less
24  than 11 acres of property.
25  (ii) At the time the resolution authorizing the
26  issuance of the bonds is adopted, the cost of constructing

 

 

  HB2492 Engrossed - 9 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 10 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 10 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 10 - LRB103 26244 RJT 52604 b
1  a new school building to replace the existing school
2  building is less than 60% of the cost of repairing the
3  existing school building.
4  (iii) The sale of the bonds occurs before July 1,
5  1997.
6  (iv) The school district issuing the bonds is a unit
7  school district located in a county of less than 70,000
8  and more than 50,000 inhabitants, which has an average
9  daily attendance of less than 1,500 and an equalized
10  assessed valuation of less than $29,000,000.
11  (h) Notwithstanding any other provisions of this Section
12  or the provisions of any other law, until January 1, 1998, a
13  community unit school district maintaining grades K through 12
14  may issue bonds up to an amount, including existing
15  indebtedness, not exceeding 27.6% of the equalized assessed
16  value of the taxable property in the district, if all of the
17  following conditions are met:
18  (i) The school district has an equalized assessed
19  valuation for calendar year 1995 of less than $24,000,000;
20  (ii) The bonds are issued for the capital improvement,
21  renovation, rehabilitation, or replacement of existing
22  school buildings of the district, all of which buildings
23  were originally constructed not less than 40 years ago;
24  (iii) The voters of the district approve a proposition
25  for the issuance of the bonds at a referendum held after
26  March 19, 1996; and

 

 

  HB2492 Engrossed - 10 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 11 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 11 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 11 - LRB103 26244 RJT 52604 b
1  (iv) The bonds are issued pursuant to Sections 19-2
2  through 19-7 of this Code.
3  (i) Notwithstanding any other provisions of this Section
4  or the provisions of any other law, until January 1, 1998, a
5  community unit school district maintaining grades K through 12
6  may issue bonds up to an amount, including existing
7  indebtedness, not exceeding 27% of the equalized assessed
8  value of the taxable property in the district, if all of the
9  following conditions are met:
10  (i) The school district has an equalized assessed
11  valuation for calendar year 1995 of less than $44,600,000;
12  (ii) The bonds are issued for the capital improvement,
13  renovation, rehabilitation, or replacement of existing
14  school buildings of the district, all of which existing
15  buildings were originally constructed not less than 80
16  years ago;
17  (iii) The voters of the district approve a proposition
18  for the issuance of the bonds at a referendum held after
19  December 31, 1996; and
20  (iv) The bonds are issued pursuant to Sections 19-2
21  through 19-7 of this Code.
22  (j) Notwithstanding any other provisions of this Section
23  or the provisions of any other law, until January 1, 1999, a
24  community unit school district maintaining grades K through 12
25  may issue bonds up to an amount, including existing
26  indebtedness, not exceeding 27% of the equalized assessed

 

 

  HB2492 Engrossed - 11 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 12 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 12 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 12 - LRB103 26244 RJT 52604 b
1  value of the taxable property in the district if all of the
2  following conditions are met:
3  (i) The school district has an equalized assessed
4  valuation for calendar year 1995 of less than $140,000,000
5  and a best 3 months average daily attendance for the
6  1995-96 school year of at least 2,800;
7  (ii) The bonds are issued to purchase a site and build
8  and equip a new high school, and the school district's
9  existing high school was originally constructed not less
10  than 35 years prior to the sale of the bonds;
11  (iii) At the time of the sale of the bonds, the board
12  of education determines by resolution that a new high
13  school is needed because of projected enrollment
14  increases;
15  (iv) At least 60% of those voting in an election held
16  after December 31, 1996 approve a proposition for the
17  issuance of the bonds; and
18  (v) The bonds are issued pursuant to Sections 19-2
19  through 19-7 of this Code.
20  (k) Notwithstanding the debt limitation prescribed in
21  subsection (a) of this Section, a school district that meets
22  all the criteria set forth in paragraphs (1) through (4) of
23  this subsection (k) may issue bonds to incur an additional
24  indebtedness in an amount not to exceed $4,000,000 even though
25  the amount of the additional indebtedness authorized by this
26  subsection (k), when incurred and added to the aggregate

 

 

  HB2492 Engrossed - 12 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 13 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 13 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 13 - LRB103 26244 RJT 52604 b
1  amount of indebtedness of the school district existing
2  immediately prior to the school district incurring such
3  additional indebtedness, causes the aggregate indebtedness of
4  the school district to exceed or increases the amount by which
5  the aggregate indebtedness of the district already exceeds the
6  debt limitation otherwise applicable to that school district
7  under subsection (a):
8  (1) the school district is located in 2 counties, and
9  a referendum to authorize the additional indebtedness was
10  approved by a majority of the voters of the school
11  district voting on the proposition to authorize that
12  indebtedness;
13  (2) the additional indebtedness is for the purpose of
14  financing a multi-purpose room addition to the existing
15  high school;
16  (3) the additional indebtedness, together with the
17  existing indebtedness of the school district, shall not
18  exceed 17.4% of the value of the taxable property in the
19  school district, to be ascertained by the last assessment
20  for State and county taxes; and
21  (4) the bonds evidencing the additional indebtedness
22  are issued, if at all, within 120 days of August 14, 1998
23  (the effective date of Public Act 90-757).
24  (l) Notwithstanding any other provisions of this Section
25  or the provisions of any other law, until January 1, 2000, a
26  school district maintaining grades kindergarten through 8 may

 

 

  HB2492 Engrossed - 13 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 14 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 14 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 14 - LRB103 26244 RJT 52604 b
1  issue bonds up to an amount, including existing indebtedness,
2  not exceeding 15% of the equalized assessed value of the
3  taxable property in the district if all of the following
4  conditions are met:
5  (i) the district has an equalized assessed valuation
6  for calendar year 1996 of less than $10,000,000;
7  (ii) the bonds are issued for capital improvement,
8  renovation, rehabilitation, or replacement of one or more
9  school buildings of the district, which buildings were
10  originally constructed not less than 70 years ago;
11  (iii) the voters of the district approve a proposition
12  for the issuance of the bonds at a referendum held on or
13  after March 17, 1998; and
14  (iv) the bonds are issued pursuant to Sections 19-2
15  through 19-7 of this Code.
16  (m) Notwithstanding any other provisions of this Section
17  or the provisions of any other law, until January 1, 1999, an
18  elementary school district maintaining grades K through 8 may
19  issue bonds up to an amount, excluding existing indebtedness,
20  not exceeding 18% of the equalized assessed value of the
21  taxable property in the district, if all of the following
22  conditions are met:
23  (i) The school district has an equalized assessed
24  valuation for calendar year 1995 or less than $7,700,000;
25  (ii) The school district operates 2 elementary
26  attendance centers that until 1976 were operated as the

 

 

  HB2492 Engrossed - 14 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 15 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 15 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 15 - LRB103 26244 RJT 52604 b
1  attendance centers of 2 separate and distinct school
2  districts;
3  (iii) The bonds are issued for the construction of a
4  new elementary school building to replace an existing
5  multi-level elementary school building of the school
6  district that is not accessible at all levels and parts of
7  which were constructed more than 75 years ago;
8  (iv) The voters of the school district approve a
9  proposition for the issuance of the bonds at a referendum
10  held after July 1, 1998; and
11  (v) The bonds are issued pursuant to Sections 19-2
12  through 19-7 of this Code.
13  (n) Notwithstanding the debt limitation prescribed in
14  subsection (a) of this Section or any other provisions of this
15  Section or of any other law, a school district that meets all
16  of the criteria set forth in paragraphs (i) through (vi) of
17  this subsection (n) may incur additional indebtedness by the
18  issuance of bonds in an amount not exceeding the amount
19  certified by the Capital Development Board to the school
20  district as provided in paragraph (iii) of this subsection
21  (n), even though the amount of the additional indebtedness so
22  authorized, when incurred and added to the aggregate amount of
23  indebtedness of the district existing immediately prior to the
24  district incurring the additional indebtedness authorized by
25  this subsection (n), causes the aggregate indebtedness of the
26  district to exceed the debt limitation otherwise applicable by

 

 

  HB2492 Engrossed - 15 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 16 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 16 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 16 - LRB103 26244 RJT 52604 b
1  law to that district:
2  (i) The school district applies to the State Board of
3  Education for a school construction project grant and
4  submits a district facilities plan in support of its
5  application pursuant to Section 5-20 of the School
6  Construction Law.
7  (ii) The school district's application and facilities
8  plan are approved by, and the district receives a grant
9  entitlement for a school construction project issued by,
10  the State Board of Education under the School Construction
11  Law.
12  (iii) The school district has exhausted its bonding
13  capacity or the unused bonding capacity of the district is
14  less than the amount certified by the Capital Development
15  Board to the district under Section 5-15 of the School
16  Construction Law as the dollar amount of the school
17  construction project's cost that the district will be
18  required to finance with non-grant funds in order to
19  receive a school construction project grant under the
20  School Construction Law.
21  (iv) The bonds are issued for a "school construction
22  project", as that term is defined in Section 5-5 of the
23  School Construction Law, in an amount that does not exceed
24  the dollar amount certified, as provided in paragraph
25  (iii) of this subsection (n), by the Capital Development
26  Board to the school district under Section 5-15 of the

 

 

  HB2492 Engrossed - 16 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 17 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 17 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 17 - LRB103 26244 RJT 52604 b
1  School Construction Law.
2  (v) The voters of the district approve a proposition
3  for the issuance of the bonds at a referendum held after
4  the criteria specified in paragraphs (i) and (iii) of this
5  subsection (n) are met.
6  (vi) The bonds are issued pursuant to Sections 19-2
7  through 19-7 of the School Code.
8  (o) Notwithstanding any other provisions of this Section
9  or the provisions of any other law, until November 1, 2007, a
10  community unit school district maintaining grades K through 12
11  may issue bonds up to an amount, including existing
12  indebtedness, not exceeding 20% of the equalized assessed
13  value of the taxable property in the district if all of the
14  following conditions are met:
15  (i) the school district has an equalized assessed
16  valuation for calendar year 2001 of at least $737,000,000
17  and an enrollment for the 2002-2003 school year of at
18  least 8,500;
19  (ii) the bonds are issued to purchase school sites,
20  build and equip a new high school, build and equip a new
21  junior high school, build and equip 5 new elementary
22  schools, and make technology and other improvements and
23  additions to existing schools;
24  (iii) at the time of the sale of the bonds, the board
25  of education determines by resolution that the sites and
26  new or improved facilities are needed because of projected

 

 

  HB2492 Engrossed - 17 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 18 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 18 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 18 - LRB103 26244 RJT 52604 b
1  enrollment increases;
2  (iv) at least 57% of those voting in a general
3  election held prior to January 1, 2003 approved a
4  proposition for the issuance of the bonds; and
5  (v) the bonds are issued pursuant to Sections 19-2
6  through 19-7 of this Code.
7  (p) Notwithstanding any other provisions of this Section
8  or the provisions of any other law, a community unit school
9  district maintaining grades K through 12 may issue bonds up to
10  an amount, including indebtedness, not exceeding 27% of the
11  equalized assessed value of the taxable property in the
12  district if all of the following conditions are met:
13  (i) The school district has an equalized assessed
14  valuation for calendar year 2001 of at least $295,741,187
15  and a best 3 months' average daily attendance for the
16  2002-2003 school year of at least 2,394.
17  (ii) The bonds are issued to build and equip 3
18  elementary school buildings; build and equip one middle
19  school building; and alter, repair, improve, and equip all
20  existing school buildings in the district.
21  (iii) At the time of the sale of the bonds, the board
22  of education determines by resolution that the project is
23  needed because of expanding growth in the school district
24  and a projected enrollment increase.
25  (iv) The bonds are issued pursuant to Sections 19-2
26  through 19-7 of this Code.

 

 

  HB2492 Engrossed - 18 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 19 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 19 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 19 - LRB103 26244 RJT 52604 b
1  (p-5) Notwithstanding any other provisions of this Section
2  or the provisions of any other law, bonds issued by a community
3  unit school district maintaining grades K through 12 shall not
4  be considered indebtedness for purposes of any statutory
5  limitation and may be issued in an amount or amounts,
6  including existing indebtedness, in excess of any heretofore
7  or hereafter imposed statutory limitation as to indebtedness,
8  if all of the following conditions are met:
9  (i) For each of the 4 most recent years, residential
10  property comprises more than 80% of the equalized assessed
11  valuation of the district.
12  (ii) At least 2 school buildings that were constructed
13  40 or more years prior to the issuance of the bonds will be
14  demolished and will be replaced by new buildings or
15  additions to one or more existing buildings.
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 new buildings or
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 25% of the
25  equalized assessed value of the taxable property in the
26  district.

 

 

  HB2492 Engrossed - 19 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 20 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 20 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 20 - LRB103 26244 RJT 52604 b
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-10) Notwithstanding any other provisions of this
4  Section or the provisions of any other law, bonds issued by a
5  community consolidated school district maintaining grades K
6  through 8 shall not be considered indebtedness for purposes of
7  any statutory limitation and may be issued in an amount or
8  amounts, including existing indebtedness, in excess of any
9  heretofore or hereafter imposed statutory limitation as to
10  indebtedness, if all of the following conditions are met:
11  (i) For each of the 4 most recent years, residential
12  and farm property comprises more than 80% of the equalized
13  assessed valuation of the district.
14  (ii) The bond proceeds are to be used to acquire and
15  improve school sites and build and equip a school
16  building.
17  (iii) Voters of the district approve a proposition for
18  the issuance of the bonds at a regularly scheduled
19  election.
20  (iv) At the time of the sale of the bonds, the school
21  board determines by resolution that the school sites and
22  building additions are needed because of an increase in
23  enrollment projected by the school board.
24  (v) The principal amount of the bonds, including
25  existing indebtedness, does not exceed 20% of the
26  equalized assessed value of the taxable property in the

 

 

  HB2492 Engrossed - 20 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 21 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 21 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 21 - LRB103 26244 RJT 52604 b
1  district.
2  (vi) The bonds are issued prior to January 1, 2007,
3  pursuant to Sections 19-2 through 19-7 of this Code.
4  (p-15) In addition to all other authority to issue bonds,
5  the Oswego Community Unit School District Number 308 may issue
6  bonds with an aggregate principal amount not to exceed
7  $450,000,000, but only if all of the following conditions are
8  met:
9  (i) The voters of the district have approved a
10  proposition for the bond issue at the general election
11  held on November 7, 2006.
12  (ii) At the time of the sale of the bonds, the school
13  board determines, by resolution, that: (A) the building
14  and equipping of the new high school building, new junior
15  high school buildings, new elementary school buildings,
16  early childhood building, maintenance building,
17  transportation facility, and additions to existing school
18  buildings, the altering, repairing, equipping, and
19  provision of technology improvements to existing school
20  buildings, and the acquisition and improvement of school
21  sites, as the case may be, are required as a result of a
22  projected increase in the enrollment of students in the
23  district; and (B) the sale of bonds for these purposes is
24  authorized by legislation that exempts the debt incurred
25  on the bonds from the district's statutory debt
26  limitation.

 

 

  HB2492 Engrossed - 21 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 22 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 22 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 22 - LRB103 26244 RJT 52604 b
1  (iii) The bonds are issued, in one or more bond
2  issues, on or before November 7, 2011, but the aggregate
3  principal amount issued in all such bond issues combined
4  must not exceed $450,000,000.
5  (iv) The bonds are issued in accordance with this
6  Article 19.
7  (v) The proceeds of the bonds are used only to
8  accomplish those projects approved by the voters at the
9  general election held on November 7, 2006.
10  The debt incurred on any bonds issued under this subsection
11  (p-15) shall not be considered indebtedness for purposes of
12  any statutory debt limitation.
13  (p-20) In addition to all other authority to issue bonds,
14  the Lincoln-Way Community High School District Number 210 may
15  issue bonds with an aggregate principal amount not to exceed
16  $225,000,000, but only if all of the following conditions are
17  met:
18  (i) The voters of the district have approved a
19  proposition for the bond issue at the general primary
20  election held on March 21, 2006.
21  (ii) At the time of the sale of the bonds, the school
22  board determines, by resolution, that: (A) the building
23  and equipping of the new high school buildings, the
24  altering, repairing, and equipping of existing school
25  buildings, and the improvement of school sites, as the
26  case may be, are required as a result of a projected

 

 

  HB2492 Engrossed - 22 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 23 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 23 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 23 - LRB103 26244 RJT 52604 b
1  increase in the enrollment of students in the district;
2  and (B) the sale of bonds for these purposes is authorized
3  by legislation that exempts the debt incurred on the bonds
4  from the district's statutory debt limitation.
5  (iii) The bonds are issued, in one or more bond
6  issues, on or before March 21, 2011, but the aggregate
7  principal amount issued in all such bond issues combined
8  must not exceed $225,000,000.
9  (iv) The bonds are issued in accordance with this
10  Article 19.
11  (v) The proceeds of the bonds are used only to
12  accomplish those projects approved by the voters at the
13  primary election held on March 21, 2006.
14  The debt incurred on any bonds issued under this subsection
15  (p-20) shall not be considered indebtedness for purposes of
16  any statutory debt limitation.
17  (p-25) In addition to all other authority to issue bonds,
18  Rochester Community Unit School District 3A may issue bonds
19  with an aggregate principal amount not to exceed $18,500,000,
20  but only if all of the following conditions are met:
21  (i) The voters of the district approve a proposition
22  for the bond issuance at the general primary election held
23  in 2008.
24  (ii) At the time of the sale of the bonds, the school
25  board determines, by resolution, that: (A) the building
26  and equipping of a new high school building; the addition

 

 

  HB2492 Engrossed - 23 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 24 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 24 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 24 - LRB103 26244 RJT 52604 b
1  of classrooms and support facilities at the high school,
2  middle school, and elementary school; the altering,
3  repairing, and equipping of existing school buildings; and
4  the improvement of school sites, as the case may be, are
5  required as a result of a projected increase in the
6  enrollment of students in the district; and (B) the sale
7  of bonds for these purposes is authorized by a law that
8  exempts the debt incurred on the bonds from the district's
9  statutory debt limitation.
10  (iii) The bonds are issued, in one or more bond
11  issues, on or before December 31, 2012, but the aggregate
12  principal amount issued in all such bond issues combined
13  must not exceed $18,500,000.
14  (iv) The bonds are issued in accordance with this
15  Article 19.
16  (v) The proceeds of the bonds are used to accomplish
17  only those projects approved by the voters at the primary
18  election held in 2008.
19  The debt incurred on any bonds issued under this subsection
20  (p-25) shall not be considered indebtedness for purposes of
21  any statutory debt limitation.
22  (p-30) In addition to all other authority to issue bonds,
23  Prairie Grove Consolidated School District 46 may issue bonds
24  with an aggregate principal amount not to exceed $30,000,000,
25  but only if all of the following conditions are met:
26  (i) The voters of the district approve a proposition

 

 

  HB2492 Engrossed - 24 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 25 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 25 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 25 - LRB103 26244 RJT 52604 b
1  for the bond issuance at an election held in 2008.
2  (ii) At the time of the sale of the bonds, the school
3  board determines, by resolution, that (A) the building and
4  equipping of a new school building and additions to
5  existing school buildings are required as a result of a
6  projected increase in the enrollment of students in the
7  district and (B) the altering, repairing, and equipping of
8  existing school buildings are required because of the age
9  of the existing school buildings.
10  (iii) The bonds are issued, in one or more bond
11  issuances, on or before December 31, 2012; however, the
12  aggregate principal amount issued in all such bond
13  issuances combined must not exceed $30,000,000.
14  (iv) The bonds are issued in accordance with this
15  Article.
16  (v) The proceeds of the bonds are used to accomplish
17  only those projects approved by the voters at an election
18  held in 2008.
19  The debt incurred on any bonds issued under this subsection
20  (p-30) shall not be considered indebtedness for purposes of
21  any statutory debt limitation.
22  (p-35) In addition to all other authority to issue bonds,
23  Prairie Hill Community Consolidated School District 133 may
24  issue bonds with an aggregate principal amount not to exceed
25  $13,900,000, but only if all of the following conditions are
26  met:

 

 

  HB2492 Engrossed - 25 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 26 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 26 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 26 - LRB103 26244 RJT 52604 b
1  (i) The voters of the district approved a proposition
2  for the bond issuance at an election held on April 17,
3  2007.
4  (ii) At the time of the sale of the bonds, the school
5  board determines, by resolution, that (A) the improvement
6  of the site of and the building and equipping of a school
7  building are required as a result of a projected increase
8  in the enrollment of students in the district and (B) the
9  repairing and equipping of the Prairie Hill Elementary
10  School building is required because of the age of that
11  school building.
12  (iii) The bonds are issued, in one or more bond
13  issuances, on or before December 31, 2011, but the
14  aggregate principal amount issued in all such bond
15  issuances combined must not exceed $13,900,000.
16  (iv) The bonds are issued in accordance with this
17  Article.
18  (v) The proceeds of the bonds are used to accomplish
19  only those projects approved by the voters at an election
20  held on April 17, 2007.
21  The debt incurred on any bonds issued under this subsection
22  (p-35) shall not be considered indebtedness for purposes of
23  any statutory debt limitation.
24  (p-40) In addition to all other authority to issue bonds,
25  Mascoutah Community Unit District 19 may issue bonds with an
26  aggregate principal amount not to exceed $55,000,000, but only

 

 

  HB2492 Engrossed - 26 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 27 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 27 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 27 - LRB103 26244 RJT 52604 b
1  if all of the following conditions are met:
2  (1) The voters of the district approve a proposition
3  for the bond issuance at a regular election held on or
4  after November 4, 2008.
5  (2) At the time of the sale of the bonds, the school
6  board determines, by resolution, that (i) the building and
7  equipping of a new high school building is required as a
8  result of a projected increase in the enrollment of
9  students in the district and the age and condition of the
10  existing high school building, (ii) the existing high
11  school building will be demolished, and (iii) the sale of
12  bonds is authorized by statute that exempts the debt
13  incurred on the bonds from the district's statutory debt
14  limitation.
15  (3) The bonds are issued, in one or more bond
16  issuances, on or before December 31, 2011, but the
17  aggregate principal amount issued in all such bond
18  issuances combined must not exceed $55,000,000.
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 those projects approved by the voters at a regular
23  election held on or after November 4, 2008.
24  The debt incurred on any bonds issued under this
25  subsection (p-40) shall not be considered indebtedness for
26  purposes of any statutory debt limitation.

 

 

  HB2492 Engrossed - 27 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 28 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 28 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 28 - LRB103 26244 RJT 52604 b
1  (p-45) Notwithstanding the provisions of subsection (a) of
2  this Section or of any other law, bonds issued pursuant to
3  Section 19-3.5 of this Code shall not be considered
4  indebtedness for purposes of any statutory limitation if the
5  bonds are issued in an amount or amounts, including existing
6  indebtedness of the school district, not in excess of 18.5% of
7  the value of the taxable property in the district to be
8  ascertained by the last assessment for State and county taxes.
9  (p-50) Notwithstanding the provisions of subsection (a) of
10  this Section or of any other law, bonds issued pursuant to
11  Section 19-3.10 of this Code shall not be considered
12  indebtedness for purposes of any statutory limitation if the
13  bonds are issued in an amount or amounts, including existing
14  indebtedness of the school district, not in excess of 43% of
15  the value of the taxable property in the district to be
16  ascertained by the last assessment for State and county taxes.
17  (p-55) In addition to all other authority to issue bonds,
18  Belle Valley School District 119 may issue bonds with an
19  aggregate principal amount not to exceed $47,500,000, but only
20  if all of the following conditions are met:
21  (1) The voters of the district approve a proposition
22  for the bond issuance at an election held on or after April
23  7, 2009.
24  (2) Prior to the issuance of the bonds, the school
25  board determines, by resolution, that (i) the building and
26  equipping of a new school building is required as a result

 

 

  HB2492 Engrossed - 28 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 29 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 29 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 29 - LRB103 26244 RJT 52604 b
1  of mine subsidence in an existing school building and
2  because of the age and condition of another existing
3  school building and (ii) the issuance of bonds is
4  authorized by statute that exempts the debt incurred on
5  the bonds from the district's statutory debt limitation.
6  (3) The bonds are issued, in one or more bond
7  issuances, on or before March 31, 2014, but the aggregate
8  principal amount issued in all such bond issuances
9  combined must not exceed $47,500,000.
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 those projects approved by the voters at an election
14  held on or after April 7, 2009.
15  The debt incurred on any bonds issued under this
16  subsection (p-55) shall not be considered indebtedness for
17  purposes of any statutory debt limitation. Bonds issued under
18  this subsection (p-55) must mature within not to exceed 30
19  years from their date, notwithstanding any other law to the
20  contrary.
21  (p-60) In addition to all other authority to issue bonds,
22  Wilmington Community Unit School District Number 209-U may
23  issue bonds with an aggregate principal amount not to exceed
24  $2,285,000, but only if all of the following conditions are
25  met:
26  (1) The proceeds of the bonds are used to accomplish

 

 

  HB2492 Engrossed - 29 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 30 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 30 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 30 - LRB103 26244 RJT 52604 b
1  only those projects approved by the voters at the general
2  primary election held on March 21, 2006.
3  (2) Prior to the issuance of the bonds, the school
4  board determines, by resolution, that (i) the projects
5  approved by the voters were and are required because of
6  the age and condition of the school district's prior and
7  existing school buildings and (ii) the issuance of the
8  bonds is authorized by legislation that exempts the debt
9  incurred on the bonds from the district's statutory debt
10  limitation.
11  (3) The bonds are issued in one or more bond issuances
12  on or before March 1, 2011, but the aggregate principal
13  amount issued in all those bond issuances combined must
14  not exceed $2,285,000.
15  (4) The bonds are issued in accordance with this
16  Article.
17  The debt incurred on any bonds issued under this
18  subsection (p-60) shall not be considered indebtedness for
19  purposes of any statutory debt limitation.
20  (p-65) In addition to all other authority to issue bonds,
21  West Washington County Community Unit School District 10 may
22  issue bonds with an aggregate principal amount not to exceed
23  $32,200,000 and maturing over a period not exceeding 25 years,
24  but only if all of the following conditions are met:
25  (1) The voters of the district approve a proposition
26  for the bond issuance at an election held on or after

 

 

  HB2492 Engrossed - 30 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 31 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 31 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 31 - LRB103 26244 RJT 52604 b
1  February 2, 2010.
2  (2) Prior to the issuance of the bonds, the school
3  board determines, by resolution, that (A) all or a portion
4  of the existing Okawville Junior/Senior High School
5  Building will be demolished; (B) the building and
6  equipping of a new school building to be attached to and
7  the alteration, repair, and equipping of the remaining
8  portion of the Okawville Junior/Senior High School
9  Building is required because of the age and current
10  condition of that school building; and (C) the issuance of
11  bonds is authorized by a 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 March 31, 2014, but the aggregate
16  principal amount issued in all such bond issuances
17  combined must not exceed $32,200,000.
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 an election
22  held on or after February 2, 2010.
23  The debt incurred on any bonds issued under this
24  subsection (p-65) shall not be considered indebtedness for
25  purposes of any statutory debt limitation.
26  (p-70) In addition to all other authority to issue bonds,

 

 

  HB2492 Engrossed - 31 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 32 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 32 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 32 - LRB103 26244 RJT 52604 b
1  Cahokia Community Unit School District 187 may issue bonds
2  with an aggregate principal amount not to exceed $50,000,000,
3  but only if all the following conditions are met:
4  (1) The voters of the district approve a proposition
5  for the bond issuance at an election held on or after
6  November 2, 2010.
7  (2) Prior to the issuance of the bonds, the school
8  board 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 an existing school building
11  and (ii) the issuance of bonds is authorized by a statute
12  that exempts the debt incurred on the bonds from the
13  district's statutory debt limitation.
14  (3) The bonds are issued, in one or more issuances, on
15  or before July 1, 2016, but the aggregate principal amount
16  issued in all such bond issuances combined must not exceed
17  $50,000,000.
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 an election
22  held on or after November 2, 2010.
23  The debt incurred on any bonds issued under this
24  subsection (p-70) shall not be considered indebtedness for
25  purposes of any statutory debt limitation. Bonds issued under
26  this subsection (p-70) must mature within not to exceed 25

 

 

  HB2492 Engrossed - 32 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 33 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 33 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 33 - LRB103 26244 RJT 52604 b
1  years from their date, notwithstanding any other law,
2  including Section 19-3 of this Code, to the contrary.
3  (p-75) Notwithstanding the debt limitation prescribed in
4  subsection (a) of this Section or any other provisions of this
5  Section or of any other law, the execution of leases on or
6  after January 1, 2007 and before July 1, 2011 by the Board of
7  Education of Peoria School District 150 with a public building
8  commission for leases entered into pursuant to the Public
9  Building Commission Act shall not be considered indebtedness
10  for purposes of any statutory debt limitation.
11  This subsection (p-75) applies only if the State Board of
12  Education or the Capital Development Board makes one or more
13  grants to Peoria School District 150 pursuant to the School
14  Construction Law. The amount exempted from the debt limitation
15  as prescribed in this subsection (p-75) shall be no greater
16  than the amount of one or more grants awarded to Peoria School
17  District 150 by the State Board of Education or the Capital
18  Development Board.
19  (p-80) In addition to all other authority to issue bonds,
20  Ridgeland School District 122 may issue bonds with an
21  aggregate principal amount not to exceed $50,000,000 for the
22  purpose of refunding or continuing to refund bonds originally
23  issued pursuant to voter approval at the general election held
24  on November 7, 2000, and the debt incurred on any bonds issued
25  under this subsection (p-80) shall not be considered
26  indebtedness for purposes of any statutory debt limitation.

 

 

  HB2492 Engrossed - 33 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 34 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 34 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 34 - LRB103 26244 RJT 52604 b
1  Bonds issued under this subsection (p-80) may be issued in one
2  or more issuances and must mature within not to exceed 25 years
3  from their date, notwithstanding any other law, including
4  Section 19-3 of this Code, to the contrary.
5  (p-85) In addition to all other authority to issue bonds,
6  Hall High School District 502 may issue bonds with an
7  aggregate principal amount not to exceed $32,000,000, but only
8  if all the following conditions are met:
9  (1) The voters of the district approve a proposition
10  for the bond issuance at an election held on or after April
11  9, 2013.
12  (2) Prior to the issuance of the bonds, the school
13  board determines, by resolution, that (i) the building and
14  equipping of a new school building is required as a result
15  of the age and condition of an existing school building,
16  (ii) the existing school building should be demolished in
17  its entirety or the existing school building should be
18  demolished except for the 1914 west wing of the building,
19  and (iii) the issuance of bonds is authorized by a statute
20  that exempts the debt incurred on the bonds from the
21  district's 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 $32,000,000.

 

 

  HB2492 Engrossed - 34 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 35 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 35 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 35 - 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 an election
5  held on or after April 9, 2013.
6  The debt incurred on any bonds issued under this
7  subsection (p-85) shall not be considered indebtedness for
8  purposes of any statutory debt limitation. Bonds issued under
9  this subsection (p-85) must mature within not to exceed 30
10  years from their date, notwithstanding any other law,
11  including Section 19-3 of this Code, to the contrary.
12  (p-90) In addition to all other authority to issue bonds,
13  Lebanon Community Unit School District 9 may issue bonds with
14  an aggregate principal amount not to exceed $7,500,000, but
15  only if all of the following conditions are met:
16  (1) The voters of the district approved a proposition
17  for the bond issuance at the general primary election on
18  February 2, 2010.
19  (2) At or prior to the time of the sale of the bonds,
20  the school board determines, by resolution, that (i) the
21  building and equipping of a new elementary school building
22  is required as a result of a projected increase in the
23  enrollment of students in the district and the age and
24  condition of the existing Lebanon Elementary School
25  building, (ii) a portion of the existing Lebanon
26  Elementary School building will be demolished and the

 

 

  HB2492 Engrossed - 35 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 36 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 36 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 36 - LRB103 26244 RJT 52604 b
1  remaining portion will be altered, repaired, and equipped,
2  and (iii) the sale of bonds is authorized by a statute that
3  exempts the debt incurred on the bonds from the district's
4  statutory debt limitation.
5  (3) The bonds are issued, in one or more bond
6  issuances, on or before April 1, 2014, but the aggregate
7  principal amount issued in all such bond issuances
8  combined must not exceed $7,500,000.
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 the general
13  primary election held on February 2, 2010.
14  The debt incurred on any bonds issued under this
15  subsection (p-90) shall not be considered indebtedness for
16  purposes of any statutory debt limitation.
17  (p-95) In addition to all other authority to issue bonds,
18  Monticello Community Unit School District 25 may issue bonds
19  with an aggregate principal amount not to exceed $35,000,000,
20  but only if all of the following conditions are met:
21  (1) The voters of the district approve a proposition
22  for the bond issuance at an election held on or after
23  November 4, 2014.
24  (2) Prior to the issuance of the bonds, the school
25  board determines, by resolution, that (i) the building and
26  equipping of a new school building is required as a result

 

 

  HB2492 Engrossed - 36 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 37 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 37 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 37 - LRB103 26244 RJT 52604 b
1  of the age and condition of an existing school building
2  and (ii) the issuance of bonds is authorized by a statute
3  that exempts the debt incurred on the bonds from the
4  district's statutory debt limitation.
5  (3) The bonds are issued, in one or more issuances, on
6  or before July 1, 2020, but the aggregate principal amount
7  issued in all such bond issuances combined must not exceed
8  $35,000,000.
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 those projects approved by the voters at an election
13  held on or after November 4, 2014.
14  The debt incurred on any bonds issued under this
15  subsection (p-95) shall not be considered indebtedness for
16  purposes of any statutory debt limitation. Bonds issued under
17  this subsection (p-95) must mature within not to exceed 25
18  years from their date, notwithstanding any other law,
19  including Section 19-3 of this Code, to the contrary.
20  (p-100) In addition to all other authority to issue bonds,
21  the community unit school district created in the territory
22  comprising Milford Community Consolidated School District 280
23  and Milford Township High School District 233, as approved at
24  the general primary election held on March 18, 2014, may issue
25  bonds with an aggregate principal amount not to exceed
26  $17,500,000, but only if all the following conditions are met:

 

 

  HB2492 Engrossed - 37 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 38 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 38 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 38 - LRB103 26244 RJT 52604 b
1  (1) The voters of the district approve a proposition
2  for the bond issuance at an election held on or after
3  November 4, 2014.
4  (2) Prior to the issuance of the bonds, the school
5  board determines, by resolution, that (i) the building and
6  equipping of a new school building is required as a result
7  of the age and condition of an existing school building
8  and (ii) the issuance of bonds is authorized by a statute
9  that exempts the debt incurred on the bonds from the
10  district's statutory debt limitation.
11  (3) The bonds are issued, in one or more issuances, on
12  or before July 1, 2020, but the aggregate principal amount
13  issued in all such bond issuances combined must not exceed
14  $17,500,000.
15  (4) The bonds are issued in accordance with this
16  Article.
17  (5) The proceeds of the bonds are used to accomplish
18  only those projects approved by the voters at an election
19  held on or after November 4, 2014.
20  The debt incurred on any bonds issued under this
21  subsection (p-100) shall not be considered indebtedness for
22  purposes of any statutory debt limitation. Bonds issued under
23  this subsection (p-100) must mature within not to exceed 25
24  years from their date, notwithstanding any other law,
25  including Section 19-3 of this Code, to the contrary.
26  (p-105) In addition to all other authority to issue bonds,

 

 

  HB2492 Engrossed - 38 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 39 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 39 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 39 - LRB103 26244 RJT 52604 b
1  North Shore School District 112 may issue bonds with an
2  aggregate principal amount not to exceed $150,000,000, but
3  only if all of the following conditions are met:
4  (1) The voters of the district approve a proposition
5  for the bond issuance at an election held on or after March
6  15, 2016.
7  (2) Prior to the issuance of the bonds, the school
8  board determines, by resolution, that (i) the building and
9  equipping of new buildings and improving the sites thereof
10  and the building and equipping of additions to, altering,
11  repairing, equipping, and renovating existing buildings
12  and improving the sites thereof are required as a result
13  of the age and condition of the district's existing
14  buildings and (ii) the issuance of bonds is authorized by
15  a statute that exempts the debt incurred on the bonds from
16  the district's 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 $150,000,000.
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.

 

 

  HB2492 Engrossed - 39 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 40 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 40 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 40 - LRB103 26244 RJT 52604 b
1  The debt incurred on any bonds issued under this
2  subsection (p-105) 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-105) and any bonds
6  issued to refund or continue to refund such bonds must mature
7  within not to exceed 30 years from their date, notwithstanding
8  any other law, including Section 19-3 of this Code, to the
9  contrary.
10  (p-110) In addition to all other authority to issue bonds,
11  Sandoval Community Unit School District 501 may issue bonds
12  with an aggregate principal amount not to exceed $2,000,000,
13  but only if all of the following conditions are met:
14  (1) The voters of the district approved a proposition
15  for the bond issuance at an election held on March 20,
16  2012.
17  (2) Prior to the issuance of the bonds, the school
18  board determines, by resolution, that (i) the building and
19  equipping of a new school building is required because of
20  the age and current condition of the Sandoval Elementary
21  School building and (ii) the issuance of bonds is
22  authorized by a statute that exempts the debt incurred on
23  the bonds from the district's statutory debt limitation.
24  (3) The bonds are issued, in one or more bond
25  issuances, on or before March 19, 2022, but the aggregate
26  principal amount issued in all such bond issuances

 

 

  HB2492 Engrossed - 40 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 41 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 41 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 41 - LRB103 26244 RJT 52604 b
1  combined must not exceed $2,000,000.
2  (4) The bonds are issued in accordance with this
3  Article.
4  (5) The proceeds of the bonds are used to accomplish
5  only those projects approved by the voters at the election
6  held on March 20, 2012.
7  The debt incurred on any bonds issued under this
8  subsection (p-110) and on any bonds issued to refund or
9  continue to refund the bonds shall not be considered
10  indebtedness for purposes of any statutory debt limitation.
11  (p-115) In addition to all other authority to issue bonds,
12  Bureau Valley Community Unit School District 340 may issue
13  bonds with an aggregate principal amount not to exceed
14  $25,000,000, but only if all of the following conditions are
15  met:
16  (1) The voters of the district approve a proposition
17  for the bond issuance at an election held on or after March
18  15, 2016.
19  (2) Prior to the issuances of the bonds, the school
20  board determines, by resolution, that (i) the renovating
21  and equipping of some existing school buildings, the
22  building and equipping of new school buildings, and the
23  demolishing of some existing school buildings are required
24  as a result of the age and condition of existing school
25  buildings and (ii) the issuance of bonds is authorized by
26  a statute that exempts the debt incurred on the bonds from

 

 

  HB2492 Engrossed - 41 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 42 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 42 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 42 - LRB103 26244 RJT 52604 b
1  the district's statutory debt limitation.
2  (3) The bonds are issued, in one or more issuances, on
3  or before July 1, 2021, but the aggregate principal amount
4  issued in all such bond issuances combined must not exceed
5  $25,000,000.
6  (4) The bonds are issued in accordance with this
7  Article.
8  (5) The proceeds of the bonds are used to accomplish
9  only those projects approved by the voters at an election
10  held on or after March 15, 2016.
11  The debt incurred on any bonds issued under this
12  subsection (p-115) shall not be considered indebtedness for
13  purposes of any statutory debt limitation. Bonds issued under
14  this subsection (p-115) must mature within not to exceed 30
15  years from their date, notwithstanding any other law,
16  including Section 19-3 of this Code, to the contrary.
17  (p-120) In addition to all other authority to issue bonds,
18  Paxton-Buckley-Loda Community Unit School District 10 may
19  issue bonds with an aggregate principal amount not to exceed
20  $28,500,000, but only if all the following conditions are met:
21  (1) The voters of the district approve a proposition
22  for the bond issuance at an election held on or after
23  November 8, 2016.
24  (2) Prior to the issuance of the bonds, the school
25  board determines, by resolution, that (i) the projects as
26  described in said proposition, relating to the building

 

 

  HB2492 Engrossed - 42 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 43 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 43 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 43 - LRB103 26244 RJT 52604 b
1  and equipping of one or more school buildings or additions
2  to existing school buildings, are required as a result of
3  the age and condition of the District's existing buildings
4  and (ii) the issuance of bonds is authorized by a statute
5  that exempts the debt incurred on the bonds from the
6  district's statutory debt limitation.
7  (3) The bonds are issued, in one or more issuances,
8  not later than 5 years after the date of the referendum
9  approving the issuance of the bonds, but the aggregate
10  principal amount issued in all such bond issuances
11  combined must not exceed $28,500,000.
12  (4) The bonds are issued in accordance with this
13  Article.
14  (5) The proceeds of the bonds are used to accomplish
15  only those projects approved by the voters at an election
16  held on or after November 8, 2016.
17  The debt incurred on any bonds issued under this
18  subsection (p-120) and on any bonds issued to refund or
19  continue to refund such bonds shall not be considered
20  indebtedness for purposes of any statutory debt limitation.
21  Bonds issued under this subsection (p-120) and any bonds
22  issued to refund or continue to refund such bonds must mature
23  within not to exceed 25 years from their date, notwithstanding
24  any other law, including Section 19-3 of this Code, to the
25  contrary.
26  (p-125) In addition to all other authority to issue bonds,

 

 

  HB2492 Engrossed - 43 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 44 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 44 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 44 - LRB103 26244 RJT 52604 b
1  Hillsboro Community Unit School District 3 may issue bonds
2  with an aggregate principal amount not to exceed $34,500,000,
3  but only if all the following conditions are met:
4  (1) The voters of the district approve a proposition
5  for the bond issuance at an election held on or after March
6  15, 2016.
7  (2) Prior to the issuance of the bonds, the school
8  board determines, by resolution, that (i) altering,
9  repairing, and equipping the high school
10  agricultural/vocational building, demolishing the high
11  school main, cafeteria, and gym buildings, building and
12  equipping a school building, and improving sites are
13  required as a result of the age and condition of the
14  district's existing buildings and (ii) the issuance of
15  bonds is authorized by a statute that exempts the debt
16  incurred on the bonds from the district's statutory debt
17  limitation.
18  (3) The bonds are issued, in one or more issuances,
19  not later than 5 years after the date of the referendum
20  approving the issuance of the bonds, but the aggregate
21  principal amount issued in all such bond issuances
22  combined must not exceed $34,500,000.
23  (4) The bonds are issued in accordance with this
24  Article.
25  (5) The proceeds of the bonds are used to accomplish
26  only those projects approved by the voters at an election

 

 

  HB2492 Engrossed - 44 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 45 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 45 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 45 - LRB103 26244 RJT 52604 b
1  held on or after March 15, 2016.
2  The debt incurred on any bonds issued under this
3  subsection (p-125) and on any bonds issued to refund or
4  continue to refund such bonds shall not be considered
5  indebtedness for purposes of any statutory debt limitation.
6  Bonds issued under this subsection (p-125) and any bonds
7  issued to refund or continue to refund such bonds must mature
8  within not to exceed 25 years from their date, notwithstanding
9  any other law, including Section 19-3 of this Code, to the
10  contrary.
11  (p-130) In addition to all other authority to issue bonds,
12  Waltham Community Consolidated School District 185 may incur
13  indebtedness in an aggregate principal amount not to exceed
14  $9,500,000 to build and equip a new school building and
15  improve the site thereof, but only if all the following
16  conditions are met:
17  (1) A majority of the voters of the district voting on
18  an advisory question voted in favor of the question
19  regarding the use of funding sources to build a new school
20  building without increasing property tax rates at the
21  general election held on November 8, 2016.
22  (2) Prior to incurring the debt, the school board
23  enters into intergovernmental agreements with the City of
24  LaSalle to pledge moneys in a special tax allocation fund
25  associated with tax increment financing districts LaSalle
26  I and LaSalle III and with the Village of Utica to pledge

 

 

  HB2492 Engrossed - 45 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 46 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 46 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 46 - LRB103 26244 RJT 52604 b
1  moneys in a special tax allocation fund associated with
2  tax increment financing district Utica I for the purposes
3  of repaying the debt issued pursuant to this subsection
4  (p-130). Notwithstanding any other provision of law to the
5  contrary, the intergovernmental agreement may extend these
6  tax increment financing districts as necessary to ensure
7  repayment of the debt.
8  (3) Prior to incurring the debt, the school board
9  determines, by resolution, that (i) the building and
10  equipping of a new school building is required as a result
11  of the age and condition of the district's existing
12  buildings and (ii) the debt is authorized by a statute
13  that exempts the debt from the district's statutory debt
14  limitation.
15  (4) The debt is incurred, in one or more issuances,
16  not later than January 1, 2021, and the aggregate
17  principal amount of debt issued in all such issuances
18  combined must not exceed $9,500,000.
19  The debt incurred under this subsection (p-130) and on any
20  bonds issued to pay, refund, or continue to refund such debt
21  shall not be considered indebtedness for purposes of any
22  statutory debt limitation. Debt issued under this subsection
23  (p-130) and any bonds issued to pay, refund, or continue to
24  refund such debt must mature within not to exceed 25 years from
25  their date, notwithstanding any other law, including Section
26  19-11 of this Code and subsection (b) of Section 17 of the

 

 

  HB2492 Engrossed - 46 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 47 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 47 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 47 - LRB103 26244 RJT 52604 b
1  Local Government Debt Reform Act, to the contrary.
2  (p-133) Notwithstanding the provisions of subsection (a)
3  of this Section or of any other law, bonds heretofore or
4  hereafter issued by East Prairie School District 73 with an
5  aggregate principal amount not to exceed $47,353,147 and
6  approved by the voters of the district at the general election
7  held on November 8, 2016, and any bonds issued to refund or
8  continue to refund the bonds, shall not be considered
9  indebtedness for the purposes of any statutory debt limitation
10  and may mature within not to exceed 25 years from their date,
11  notwithstanding any other law, including Section 19-3 of this
12  Code, to the contrary.
13  (p-135) In addition to all other authority to issue bonds,
14  Brookfield LaGrange Park School District Number 95 may issue
15  bonds with an aggregate principal amount not to exceed
16  $20,000,000, but only if all the following conditions are met:
17  (1) The voters of the district approve a proposition
18  for the bond issuance at an election held on or after April
19  4, 2017.
20  (2) Prior to the issuance of the bonds, the school
21  board determines, by resolution, that (i) the additions
22  and renovations to the Brook Park Elementary and S. E.
23  Gross Middle School buildings are required to accommodate
24  enrollment growth, replace outdated facilities, and create
25  spaces consistent with 21st century learning and (ii) the
26  issuance of the bonds is authorized by a statute that

 

 

  HB2492 Engrossed - 47 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 48 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 48 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 48 - LRB103 26244 RJT 52604 b
1  exempts 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 $20,000,000.
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 April 4, 2017.
13  The debt incurred on any bonds issued under this
14  subsection (p-135) 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  (p-140) The debt incurred on any bonds issued by Wolf
18  Branch School District 113 under Section 17-2.11 of this Code
19  for the purpose of repairing or replacing all or a portion of a
20  school building that has been damaged by mine subsidence in an
21  aggregate principal amount not to exceed $17,500,000 and on
22  any bonds issued to refund or continue to refund those bonds
23  shall not be considered indebtedness for purposes of any
24  statutory debt limitation and must mature no later than 25
25  years from the date of issuance, notwithstanding any other
26  provision of law to the contrary, including Section 19-3 of

 

 

  HB2492 Engrossed - 48 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 49 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 49 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 49 - LRB103 26244 RJT 52604 b
1  this Code. The maximum allowable amount of debt exempt from
2  statutory debt limitations under this subsection (p-140) shall
3  be reduced by an amount equal to any grants awarded by the
4  State Board of Education or Capital Development Board for the
5  explicit purpose of repairing or reconstructing a school
6  building damaged by mine subsidence.
7  (p-145) In addition to all other authority to issue bonds,
8  Greenview Community Unit School District 200 may issue bonds
9  with an aggregate principal amount not to exceed $3,500,000,
10  but only if all of the following conditions are met:
11  (1) The voters of the district approve a proposition
12  for the bond issuance at an election held on March 17,
13  2020.
14  (2) Prior to the issuance of the bonds, the school
15  board determines, by resolution, that the bonding is
16  necessary for construction and expansion of the district's
17  kindergarten through grade 12 facility.
18  (3) The bonds are issued, in one or more issuances,
19  not later than 5 years after the date of the referendum
20  approving the issuance of the bonds, but the aggregate
21  principal amount issued in all such bond issuances
22  combined must not exceed $3,500,000.
23  (4) The bonds are issued in accordance with this
24  Article.
25  (5) The proceeds of the bonds are used to accomplish
26  only the projects approved by the voters at an election

 

 

  HB2492 Engrossed - 49 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 50 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 50 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 50 - LRB103 26244 RJT 52604 b
1  held on March 17, 2020.
2  The debt incurred on any bonds issued under this
3  subsection (p-145) and on any bonds issued to refund or
4  continue to refund such bonds shall not be considered
5  indebtedness for purposes of any statutory debt limitation.
6  Bonds issued under this subsection (p-145) and any bonds
7  issued to refund or continue to refund such bonds must mature
8  within not to exceed 25 years from their date, notwithstanding
9  any other law, including Section 19-3 of this Code, to the
10  contrary.
11  (p-150) In addition to all other authority to issue bonds,
12  Komarek School District 94 may issue bonds with an aggregate
13  principal amount not to exceed $20,800,000, but only if all of
14  the following conditions are 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) building and
20  equipping additions to, altering, repairing, equipping, or
21  demolishing a portion of, or improving the site of the
22  district's existing school building is required as a
23  result of the age and condition of the existing building
24  and (ii) the issuance of the bonds is authorized by a
25  statute that exempts the debt incurred on the bonds from
26  the district's statutory debt limitation.

 

 

  HB2492 Engrossed - 50 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 51 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 51 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 51 - LRB103 26244 RJT 52604 b
1  (3) The bonds are issued, in one or more issuances, no
2  later than 5 years after the date of the referendum
3  approving the issuance of the bonds, but the aggregate
4  principal amount issued in all of the bond issuances
5  combined may not exceed $20,800,000.
6  (4) The bonds are issued in accordance with this
7  Article.
8  (5) The proceeds of the bonds are used to accomplish
9  only those projects approved by the voters at an election
10  held on or after March 17, 2020.
11  The debt incurred on any bonds issued under this
12  subsection (p-150) and on any bonds issued to refund or
13  continue to refund those bonds may not be considered
14  indebtedness for purposes of any statutory debt limitation.
15  Notwithstanding any other law to the contrary, including
16  Section 19-3, bonds issued under this subsection (p-150) and
17  any bonds issued to refund or continue to refund those bonds
18  must mature within 30 years from their date of issuance.
19  (p-155) In addition to all other authority to issue bonds,
20  Williamsville Community Unit School District 15 may issue
21  bonds with an aggregate principal amount not to exceed
22  $40,000,000, but only if all of the following conditions are
23  met:
24  (1) The voters of the school district approve a
25  proposition for the bond issuance at an election held on
26  March 17, 2020.

 

 

  HB2492 Engrossed - 51 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 52 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 52 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 52 - LRB103 26244 RJT 52604 b
1  (2) Prior to the issuance of the bonds, the school
2  board determines, by resolution, that the projects set
3  forth in the proposition for the bond issuance were and
4  are required because of the age and condition of the
5  school district's existing school buildings.
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 $40,000,000.
11  (4) The bonds are issued in accordance with this
12  Article.
13  (5) The proceeds of the bonds are used to accomplish
14  only the projects approved by the voters at an election
15  held on March 17, 2020.
16  The debt incurred on any bonds issued under this
17  subsection (p-155) 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-155) 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-160) In addition to all other authority to issue bonds,
26  Berkeley School District 87 may issue bonds with an aggregate

 

 

  HB2492 Engrossed - 52 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 53 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 53 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 53 - LRB103 26244 RJT 52604 b
1  principal amount not to exceed $105,000,000, but only if all
2  of the following conditions are met:
3  (1) The voters of the district approve a proposition
4  for the bond issuance at the general primary election held
5  on March 17, 2020.
6  (2) Prior to the issuance of the bonds, the school
7  board determines, by resolution, that (i) building and
8  equipping a school building to replace the Sunnyside
9  Intermediate and MacArthur Middle School buildings;
10  building and equipping additions to and altering,
11  repairing, and equipping the Riley Intermediate and
12  Northlake Middle School buildings; altering, repairing,
13  and equipping the Whittier Primary and Jefferson Primary
14  School buildings; improving sites; renovating
15  instructional spaces; providing STEM (science, technology,
16  engineering, and mathematics) labs; and constructing life
17  safety, security, and infrastructure improvements are
18  required to replace outdated facilities and to provide
19  safe spaces consistent with 21st century learning and (ii)
20  the issuance of bonds is authorized by a statute that
21  exempts the debt incurred on the bonds from the district's
22  statutory debt limitation.
23  (3) The bonds are issued, in one or more issuances,
24  not later than 5 years after the date of the referendum
25  approving the issuance of the bonds, but the aggregate
26  principal amount issued in all such bond issuances

 

 

  HB2492 Engrossed - 53 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 54 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 54 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 54 - LRB103 26244 RJT 52604 b
1  combined must not exceed $105,000,000.
2  (4) The bonds are issued in accordance with this
3  Article.
4  (5) The proceeds of the bonds are used to accomplish
5  only those projects approved by the voters at the general
6  primary election held on March 17, 2020.
7  The debt incurred on any bonds issued under this
8  subsection (p-160) and on any bonds issued to refund or
9  continue to refund such bonds shall not be considered
10  indebtedness for purposes of any statutory debt limitation.
11  (p-165) In addition to all other authority to issue bonds,
12  Elmwood Park Community Unit School District 401 may issue
13  bonds with an aggregate principal amount not to exceed
14  $55,000,000, but only if all of the following conditions are
15  met:
16  (1) The voters of the district approve a proposition
17  for the bond issuance at an election held on or after March
18  17, 2020.
19  (2) Prior to the issuance of the bonds, the school
20  board determines, by resolution, that (i) the building and
21  equipping of an addition to the John Mills Elementary
22  School building; the renovating, altering, repairing, and
23  equipping of the John Mills and Elmwood Elementary School
24  buildings; the installation of safety and security
25  improvements; and the improvement of school sites are
26  required as a result of the age and condition of the

 

 

  HB2492 Engrossed - 54 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 55 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 55 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 55 - LRB103 26244 RJT 52604 b
1  district's existing school buildings and (ii) the issuance
2  of bonds is authorized by a statute that exempts the debt
3  incurred on the bonds from the district's statutory debt
4  limitation.
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 $55,000,000.
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 or after March 17, 2020.
15  The debt incurred on any bonds issued under this
16  subsection (p-165) 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-165) 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-170) In addition to all other authority to issue bonds,
25  Maroa-Forsyth Community Unit School District 2 may issue bonds
26  with an aggregate principal amount not to exceed $33,000,000,

 

 

  HB2492 Engrossed - 55 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 56 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 56 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 56 - LRB103 26244 RJT 52604 b
1  but only if all of the following conditions are met:
2  (1) The voters of the school district approve a
3  proposition for the bond issuance at an election held on
4  March 17, 2020.
5  (2) Prior to the issuance of the bonds, the school
6  board determines, by resolution, that the projects set
7  forth in the proposition for the bond issuance were and
8  are required because of the age and condition of the
9  school district's existing school buildings.
10  (3) The bonds are issued, in one or more issuances,
11  not later than 5 years after the date of the referendum
12  approving the issuance of the bonds, but the aggregate
13  principal amount issued in all such bond issuances
14  combined must not exceed $33,000,000.
15  (4) The bonds are issued in accordance with this
16  Article.
17  (5) The proceeds of the bonds are used to accomplish
18  only the projects approved by the voters at an election
19  held on March 17, 2020.
20  The debt incurred on any bonds issued under this
21  subsection (p-170) and on any bonds issued to refund or
22  continue to refund such bonds shall not be considered
23  indebtedness for purposes of any statutory debt limitation.
24  Bonds issued under this subsection (p-170) and any bonds
25  issued to refund or continue to refund such bonds must mature
26  within not to exceed 25 years from their date, notwithstanding

 

 

  HB2492 Engrossed - 56 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 57 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 57 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 57 - LRB103 26244 RJT 52604 b
1  any other law, including Section 19-3 of this Code, to the
2  contrary.
3  (p-175) In addition to all other authority to issue bonds,
4  Schiller Park School District 81 may issue bonds with an
5  aggregate principal amount not to exceed $30,000,000, but only
6  if all of the following conditions are met:
7  (1) The voters of the district approve a proposition
8  for the bond issuance at an election held on or after March
9  17, 2020.
10  (2) Prior to the issuance of the bonds, the school
11  board determines, by resolution, that (i) building and
12  equipping a school building to replace the Washington
13  Elementary School building, installing fire suppression
14  systems, security systems, and federal Americans with
15  Disability Act of 1990 compliance measures, acquiring
16  land, and improving the site are required to accommodate
17  enrollment growth, replace an outdated facility, and
18  create spaces consistent with 21st century learning and
19  (ii) 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 $30,000,000.

 

 

  HB2492 Engrossed - 57 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 58 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 58 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 58 - 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 the projects approved by the voters at an election
5  held on or after March 17, 2020.
6  The debt incurred on any bonds issued under this
7  subsection (p-175) 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  Bonds issued under this subsection (p-175) and any bonds
11  issued to refund or continue to refund such bonds must mature
12  within not to exceed 27 years from their date, notwithstanding
13  any other law, including Section 19-3 of this Code, to the
14  contrary.
15  (p-180) In addition to all other authority to issue bonds,
16  Iroquois County Community Unit School District 9 may issue
17  bonds with an aggregate principal amount not to exceed
18  $17,125,000, but only if all of the following conditions are
19  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  6, 2021.
23  (2) Prior to the issuance of the bonds, the school
24  board determines, by resolution, that (i) building and
25  equipping a new school building in the City of Watseka;
26  altering, repairing, renovating, and equipping portions of

 

 

  HB2492 Engrossed - 58 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 59 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 59 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 59 - LRB103 26244 RJT 52604 b
1  the existing facilities of the district; and making site
2  improvements is necessary because of the age and condition
3  of the district's existing school facilities and (ii) the
4  issuance of bonds is authorized by a statute that exempts
5  the debt incurred on the bonds from the district's
6  statutory debt limitation.
7  (3) The bonds are issued, in one or more issuances,
8  not later than 5 years after the date of the referendum
9  approving the issuance of the bonds, but the aggregate
10  principal amount issued in all such bond issuances
11  combined must not exceed $17,125,000.
12  (4) The bonds are issued in accordance with this
13  Article.
14  (5) The proceeds of the bonds are used to accomplish
15  only the projects approved by the voters at an election
16  held on or after April 6, 2021.
17  The debt incurred on any bonds issued under this
18  subsection (p-180) and on any bonds issued to refund or
19  continue to refund such bonds shall not be considered
20  indebtedness for purposes of any statutory debt limitation.
21  Bonds issued under this subsection (p-180) and any bonds
22  issued to refund or continue to refund such bonds must mature
23  within not to exceed 25 years from their date, notwithstanding
24  any other law, including Section 19-3 of this Code, to the
25  contrary.
26  (p-185) In addition to all other authority to issue bonds,

 

 

  HB2492 Engrossed - 59 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 60 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 60 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 60 - LRB103 26244 RJT 52604 b
1  Field Community Consolidated School District 3 may issue bonds
2  with an aggregate principal amount not to exceed $2,600,000,
3  but only if all of the following conditions are met:
4  (1) The voters of the district approve a proposition
5  for the bond issuance at an election held on or after April
6  6, 2021.
7  (2) Prior to the issuance of the bonds, the school
8  board determines, by resolution, that (i) it is necessary
9  to alter, repair, renovate, and equip the existing
10  facilities of the district, including, but not limited to,
11  roof replacement, lighting replacement, electrical
12  upgrades, restroom repairs, and gym renovations, and make
13  site improvements because of the age and condition of the
14  district's existing school facilities and (ii) the
15  issuance of bonds is authorized by a statute that exempts
16  the debt incurred on the bonds from the district's
17  statutory debt limitation.
18  (3) The bonds are issued, in one or more issuances,
19  not later than 5 years after the date of the referendum
20  approving the issuance of the bonds, but the aggregate
21  principal amount issued in all such bond issuances
22  combined must not exceed $2,600,000.
23  (4) The bonds are issued in accordance with this
24  Article.
25  (5) The proceeds of the bonds are used to accomplish
26  only the projects approved by the voters at an election

 

 

  HB2492 Engrossed - 60 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 61 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 61 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 61 - LRB103 26244 RJT 52604 b
1  held on or after April 6, 2021.
2  The debt incurred on any bonds issued under this
3  subsection (p-185) and on any bonds issued to refund or
4  continue to refund such bonds shall not be considered
5  indebtedness for purposes of any statutory debt limitation.
6  Bonds issued under this subsection (p-185) and any bonds
7  issued to refund or continue to refund such bonds must mature
8  within not to exceed 25 years from their date, notwithstanding
9  any other law, including Section 19-3 of this Code, to the
10  contrary.
11  (p-190) In addition to all other authority to issue bonds,
12  Mahomet-Seymour Community Unit School District 3 may issue
13  bonds with an aggregate principal amount not to exceed
14  $97,900,000, but only if all the following conditions are met:
15  (1) The voters of the district approve a proposition
16  for the bond issuance at an election held on or after June
17  28, 2022.
18  (2) Prior to the issuance of the bonds, the school
19  board determines, by resolution, that (i) it is necessary
20  to build and equip a new junior high school building,
21  build and equip a new transportation building, and build
22  and equip additions to, renovate, and make site
23  improvements at the Lincoln Trail Elementary building,
24  Middletown Prairie Elementary building, and
25  Mahomet-Seymour High School building and (ii) the issuance
26  of bonds is authorized by a statute that exempts the debt

 

 

  HB2492 Engrossed - 61 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 62 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 62 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 62 - LRB103 26244 RJT 52604 b
1  incurred on the bonds from the district's statutory debt
2  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 $97,900,000.
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-190) 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-190) 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-195) In addition to all other authority to issue bonds,
23  New Berlin Community Unit School District 16 may issue bonds
24  with an aggregate principal amount not to exceed $23,500,000,
25  but only if all the following conditions are met:
26  (1) The voters of the district approve a proposition

 

 

  HB2492 Engrossed - 62 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 63 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 63 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 63 - LRB103 26244 RJT 52604 b
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 (i) it is necessary
5  to alter, repair, and equip the junior/senior high school
6  building, including creating new classroom, gym, and other
7  instructional spaces, renovating the J.V. Kirby Pretzel
8  Dome, improving heating, cooling, and ventilation systems,
9  installing school safety and security improvements,
10  removing asbestos, and making site improvements, and (ii)
11  the issuance of bonds is authorized by a statute that
12  exempts the debt incurred on the bonds from the district's
13  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 $23,500,000.
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-195) and on any bonds issued to refund or
26  continue to refund such bonds shall not be considered

 

 

  HB2492 Engrossed - 63 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 64 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 64 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 64 - LRB103 26244 RJT 52604 b
1  indebtedness for purposes of any statutory debt limitation.
2  Bonds issued under this subsection (p-195) 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-200) In addition to all other authority to issue bonds,
8  Highland Community Unit School District 5 may issue bonds with
9  an aggregate principal amount not to exceed $40,000,000, but
10  only if all the following conditions are met:
11  (1) The voters of the district approve a proposition
12  for the bond issuance at an election held on or after June
13  28, 2022.
14  (2) Prior to the issuance of the bonds, the school
15  board determines, by resolution, that (i) it is necessary
16  to improve the sites of, build, and equip a new primary
17  school building and build and equip additions to and
18  alter, repair, and equip existing school buildings and
19  (ii) 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 $40,000,000.

 

 

  HB2492 Engrossed - 64 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 65 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 65 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 65 - 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 the projects approved by the voters at an election
5  held on or after June 28, 2022.
6  The debt incurred on any bonds issued under this
7  subsection (p-200) 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  Bonds issued under this subsection (p-200) and any bonds
11  issued to refund or continue to refund such bonds must mature
12  within not to exceed 25 years from their date, notwithstanding
13  any other law, including Section 19-3 of this Code, to the
14  contrary.
15  (p-205) In addition to all other authority to issue bonds,
16  Sullivan Community Unit School District 300 may issue bonds
17  with an aggregate principal amount not to exceed $25,000,000,
18  but only if all of the following conditions are met:
19  (1) The voters of the district approve a proposition
20  for the bond issuance at an election held on or after June
21  28, 2022.
22  (2) Prior to the issuance of the bonds, the school
23  board determines, by resolution, that (i) the projects set
24  forth in the proposition for the issuance of the bonds are
25  required because of the age, condition, or capacity of the
26  school district's existing school buildings and (ii) the

 

 

  HB2492 Engrossed - 65 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 66 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 66 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 66 - LRB103 26244 RJT 52604 b
1  issuance of bonds is authorized by a statute that exempts
2  the debt incurred on the bonds from the district's
3  statutory debt 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 $25,000,000.
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 June 28, 2022.
14  The debt incurred on any bonds issued under this
15  subsection (p-205) 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-205) 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-210) In addition to all other authority to issue bonds,
24  Manhattan School District 114 may issue bonds with an
25  aggregate principal amount not to exceed $85,000,000, but only
26  if all the following conditions are met:

 

 

  HB2492 Engrossed - 66 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 67 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 67 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 67 - LRB103 26244 RJT 52604 b
1  (1) The voters of the district approve a proposition
2  for the bond issuance at an election held on or after June
3  28, 2022.
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, condition, or capacity of
8  the 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 issuances of the bonds, but the aggregate
12  principal amount issued in all such bond issuances
13  combined must not exceed $85,000,000.
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 or after June 28, 2022.
19  The debt incurred on any bonds issued under this
20  subsection (p-210) 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-210) and any bonds
24  issued to refund or continue to refund such bonds must mature
25  within not to exceed 30 years from their date, notwithstanding
26  any other law, including Section 19-3 of this Code, to the

 

 

  HB2492 Engrossed - 67 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 68 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 68 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 68 - LRB103 26244 RJT 52604 b
1  contrary.
2  (p-215) In addition to all other authority to issue bonds,
3  Golf Elementary School District 67 may issue bonds with an
4  aggregate principal amount not to exceed $56,000,000, 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 June
8  28, 2022.
9  (2) Prior to the issuance of the bonds, the school
10  board determines, by resolution, that (i) it is necessary
11  to build and equip a new school building and improve the
12  site thereof and (ii) the issuance of bonds is authorized
13  by a statute that exempts the debt incurred on the bonds
14  from the district's statutory debt limitation.
15  (3) The bonds are issued, in one or more issuances,
16  not later than 5 years after the date of the referendum
17  approving the issuance of the bonds, but the aggregate
18  principal amount issued in all such bond issuances
19  combined must not exceed $56,000,000.
20  (4) The bonds are issued in accordance with this
21  Article.
22  (5) The proceeds of the bonds are used to accomplish
23  only the projects approved by the voters at an election
24  held on or after June 28, 2022.
25  The debt incurred on any bonds issued under this
26  subsection (p-215) and on any bonds issued to refund or

 

 

  HB2492 Engrossed - 68 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 69 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 69 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 69 - LRB103 26244 RJT 52604 b
1  continue to refund such bonds shall not be considered
2  indebtedness for purposes of any statutory debt limitation.
3  Bonds issued under this subsection (p-215) and any bonds
4  issued to refund or continue to refund such bonds must mature
5  within not to exceed 25 years from their date, notwithstanding
6  any other law, including Section 19-3 of this Code, to the
7  contrary.
8  (p-220) Notwithstanding the provisions of subsection (a)
9  of this Section or of any other law, a school district may
10  issue bonds or certificates to finance guaranteed energy
11  savings contracts pursuant to Article 19b of this Code, and
12  any bonds or certificates so issued shall not be considered
13  indebtedness for purposes of any statutory limitation and may
14  be issued in an amount or amounts, including existing
15  indebtedness, in excess of any heretofore or hereafter imposed
16  statutory limitation as to indebtedness.
17  (q) A school district must notify the State Board of
18  Education prior to issuing any form of long-term or short-term
19  debt that will result in outstanding debt that exceeds 75% of
20  the debt limit specified in this Section or any other
21  provision of law.
22  (Source: P.A. 101-646, eff. 6-26-20; 102-316, eff. 8-6-21;
23  102-949, eff. 5-27-22.)
24  (105 ILCS 5/19b-5.5 new)
25  Sec. 19b-5.5. Indebtedness and bonds. The school board of

 

 

  HB2492 Engrossed - 69 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 70 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 70 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 70 - LRB103 26244 RJT 52604 b
1  any school district, whether organized under a general law or
2  special charter, having a population of less than 500,000
3  inhabitants may, by resolution, incur an indebtedness and
4  issue bonds as evidence thereof in an amount or amounts not
5  exceeding the aggregate cost of all expenditures reasonably
6  expected to be incurred pursuant to a guaranteed energy
7  savings contract entered into in accordance with this Article.
8  The bonds shall bear interest at not more than the maximum rate
9  authorized by law and shall mature within 20 years from the
10  date thereof.
11  All contracts paid by bonds issued pursuant to this
12  Section shall include a requirement that the qualified
13  provider (i) enter into a project labor agreement with the
14  applicable building and construction trades council and (ii)
15  provide a plan to comply with the utilization goals for
16  business enterprises established in the Business Enterprise
17  for Minorities, Women, and Persons with Disabilities Act.
18  (105 ILCS 5/19b-6) (from Ch. 122, par. 19b-6)
19  Sec. 19b-6. Term; budget and appropriations. Guaranteed
20  energy savings contracts may extend beyond the fiscal year in
21  which they become effective. The school district or area
22  vocational center shall include in its annual budget and
23  appropriations measures for each subsequent fiscal year any
24  amounts payable under guaranteed energy savings contracts
25  during that fiscal year. Sections 2-3.12 and , 3-14.20, and

 

 

  HB2492 Engrossed - 70 - LRB103 26244 RJT 52604 b


HB2492 Engrossed- 71 -LRB103 26244 RJT 52604 b   HB2492 Engrossed - 71 - LRB103 26244 RJT 52604 b
  HB2492 Engrossed - 71 - LRB103 26244 RJT 52604 b
1  10-22.36 of this the School Code shall apply to this Article
2  19b.
3  (Source: P.A. 92-767, eff. 8-6-02.)

 

 

  HB2492 Engrossed - 71 - LRB103 26244 RJT 52604 b