Bill Title: Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Ridgeland School District 122 may issue bonds with an aggregate principal amount not to exceed $50,000,000 for the purpose of refunding or continuing to refund bonds originally issued pursuant to voter approval. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation, and the bonds may be issued in one or more issuances and must mature within not to exceed 25 years from their date.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-07-20 - Public Act . . . . . . . . . 97-0834 [HB4602 Detail]

Text: Latest bill text (Chaptered) [HTML]

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