Bill Text: IL HB5802 | 2025-2026 | 104th General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Provides that the Department of Commerce and Economic Opportunity may certify certain projects as megaprojects. Provides that property that receives a megaproject certificate is eligible for an assessment freeze. Contains provisions concerning special payments. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois, the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Contains provisions concerning a megaproject building materials exemption. Amends the Bond Authorization Act. Provides that the authority of a public corporation to levy taxes in connection with the payment of bonds or other evidences of indebtedness ceases upon the maturity date of the bond or other evidence of indebtedness or upon the discharge of the debt, whichever comes first. Amends the Election Code, the Counties Code, the Township Code, the Illinois Local Library Act, the School Code, and the Public Community College Act. In provisions concerning the issuance of bonds, provides that the affected bond referenda must be held at a general election (rather than at a regularly scheduled election). Effective immediately.
Sponsorship: Partisan Bill (Republican 3)
Status: (Introduced - Dead) 2026-08-05 - Added Co-Sponsor Rep. Kevin Schmidt [HB5802 Detail]
Download: Illinois-2025-HB5802-Introduced.html
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| 1 | AN ACT concerning revenue. | |||||||||||||||||||
| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly: | |||||||||||||||||||
| 4 | Section 5. The Department of Commerce and Economic | |||||||||||||||||||
| 5 | Opportunity Law of the Civil Administrative Code of Illinois | |||||||||||||||||||
| 6 | is amended by adding Section 605-1119 as follows: | |||||||||||||||||||
| 7 | (20 ILCS 605/605-1119 new) | |||||||||||||||||||
| 8 | Sec. 605-1119. Megaproject building materials exemption. | |||||||||||||||||||
| 9 | (a) Until January 1, 2032, the Department may certify a | |||||||||||||||||||
| 10 | taxpayer for an exemption from any State or local use tax or | |||||||||||||||||||
| 11 | retailers' occupation tax on building materials that will be | |||||||||||||||||||
| 12 | incorporated into real estate as part of a building project at | |||||||||||||||||||
| 13 | the site of a megaproject as defined under Division 23 of the | |||||||||||||||||||
| 14 | Property Tax Code. The taxpayer must meet all of the criteria | |||||||||||||||||||
| 15 | for certification set forth in Division 23 of Article 10 of the | |||||||||||||||||||
| 16 | Property Tax Code. This certification is in addition to and | |||||||||||||||||||
| 17 | does not replace or amend the megaproject certificate | |||||||||||||||||||
| 18 | provisions under Division 23 of Article 10 of the Property Tax | |||||||||||||||||||
| 19 | Code. | |||||||||||||||||||
| 20 | (b) Before the Department certifies a taxpayer for an | |||||||||||||||||||
| 21 | exemption under this Section, the Department shall transmit a | |||||||||||||||||||
| 22 | copy of the application to the Department of Revenue, and the | |||||||||||||||||||
| 23 | Department of Revenue shall project the long-term property | |||||||||||||||||||
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| 1 | tax, bond capacity, utilization impacts, and the fiscal | ||||||
| 2 | effects of the proposed megaproject. | ||||||
| 3 | (c) The Department shall determine the period during which | ||||||
| 4 | the exemption from State and local use taxes and retailers' | ||||||
| 5 | occupation taxes is in effect, but in no event shall the | ||||||
| 6 | initial period exceed 10 years. The certificate may be renewed | ||||||
| 7 | for a period not to exceed 5 years. Upon certification by the | ||||||
| 8 | Department under this Section, the Department shall notify the | ||||||
| 9 | Department of Revenue of the certification. The exemption | ||||||
| 10 | status shall take effect within 3 months after certification | ||||||
| 11 | of the taxpayer and notice to the Department of Revenue by the | ||||||
| 12 | Department. | ||||||
| 13 | (d) If the taxpayer is not in compliance with Division 23 | ||||||
| 14 | of Article 10 of the Property Tax Code, the Department shall | ||||||
| 15 | revoke the certification under this Section by written notice | ||||||
| 16 | to the taxpayer. The Department shall transmit a copy of the | ||||||
| 17 | revocation to the Department of Revenue. If the taxpayer's | ||||||
| 18 | certification is revoked, the taxpayer must repay any exempted | ||||||
| 19 | amount of State or local use tax or retailers' occupation tax | ||||||
| 20 | for purchases made during the period of noncompliance. | ||||||
| 21 | (e) The Department shall propose rules as are reasonable | ||||||
| 22 | and necessary to implement the provisions of this Section | ||||||
| 23 | within 45 days after the effective date of this amendatory Act | ||||||
| 24 | of the 104th General Assembly. | ||||||
| 25 | Section 10. The Bond Authorization Act is amended by | ||||||
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| |||||||
| 1 | adding Section 8 as follows: | ||||||
| 2 | (30 ILCS 305/8 new) | ||||||
| 3 | Sec. 8. Roll-over prohibited. Notwithstanding any other | ||||||
| 4 | provision of law, the authority of a public corporation to | ||||||
| 5 | levy taxes in connection with the payment of bonds or other | ||||||
| 6 | evidences of indebtedness ceases upon the maturity date of the | ||||||
| 7 | bond or other evidence of indebtedness or upon the discharge | ||||||
| 8 | of the debt, whichever comes first. Nothing in this Section | ||||||
| 9 | shall be construed to impair any contract in existence on the | ||||||
| 10 | effective date of this amendatory Act of the 104th General | ||||||
| 11 | Assembly. | ||||||
| 12 | Section 15. The Use Tax Act is amended by changing Section | ||||||
| 13 | 12 as follows: | ||||||
| 14 | (35 ILCS 105/12) (from Ch. 120, par. 439.12) | ||||||
| 15 | Sec. 12. Applicability of Retailers' Occupation Tax Act | ||||||
| 16 | and Uniform Penalty and Interest Act. All of the provisions of | ||||||
| 17 | Sections 1d, 1e, 1f, 1i, 1j, 1j.1, 1k, 1m, 1n, 1o, 2-6, 2-12, | ||||||
| 18 | 2-28, 2-29, 2-54, 2a, 2b, 2c, 3, 4 (except that the time | ||||||
| 19 | limitation provisions shall run from the date when the tax is | ||||||
| 20 | due rather than from the date when gross receipts are | ||||||
| 21 | received), 5 (except that the time limitation provisions on | ||||||
| 22 | the issuance of notices of tax liability shall run from the | ||||||
| 23 | date when the tax is due rather than from the date when gross | ||||||
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| 1 | receipts are received and except that in the case of a failure | ||||||
| 2 | to file a return required by this Act, no notice of tax | ||||||
| 3 | liability shall be issued on and after each July 1 and January | ||||||
| 4 | 1 covering tax due with that return during any month or period | ||||||
| 5 | more than 6 years before that July 1 or January 1, | ||||||
| 6 | respectively), 5a, 5b, 5c, 5d, 5e, 5f, 5g, 5h, 5j, 5k, 5l, 5m, | ||||||
| 7 | 5n, 7, 8, 9, 10, 11 and 12 of the Retailers' Occupation Tax Act | ||||||
| 8 | and Section 3-7 of the Uniform Penalty and Interest Act, which | ||||||
| 9 | are not inconsistent with this Act, shall apply, as far as | ||||||
| 10 | practicable, to the subject matter of this Act to the same | ||||||
| 11 | extent as if such provisions were included herein. | ||||||
| 12 | (Source: P.A. 102-700, eff. 4-19-22; 103-9, eff. 6-7-23; | ||||||
| 13 | 103-595, eff. 6-26-24.) | ||||||
| 14 | Section 20. The Service Use Tax Act is amended by changing | ||||||
| 15 | Section 12 as follows: | ||||||
| 16 | (35 ILCS 110/12) (from Ch. 120, par. 439.42) | ||||||
| 17 | Sec. 12. Applicability of Retailers' Occupation Tax Act | ||||||
| 18 | and Uniform Penalty and Interest Act. All of the provisions of | ||||||
| 19 | Sections 1d, 1e, 1f, 1i, 1j, 1j.1, 1k, 1m, 1n, 1o, 2-6, 2-12, | ||||||
| 20 | 2-28, 2-29, 2-54, 2a, 2b, 2c, 3 (except as to the disposition | ||||||
| 21 | by the Department of the money collected under this Act), 4 | ||||||
| 22 | (except that the time limitation provisions shall run from the | ||||||
| 23 | date when gross receipts are received), 5 (except that the | ||||||
| 24 | time limitation provisions on the issuance of notices of tax | ||||||
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| 1 | liability shall run from the date when the tax is due rather | ||||||
| 2 | than from the date when gross receipts are received and except | ||||||
| 3 | that in the case of a failure to file a return required by this | ||||||
| 4 | Act, no notice of tax liability shall be issued on and after | ||||||
| 5 | July 1 and January 1 covering tax due with that return during | ||||||
| 6 | any month or period more than 6 years before that July 1 or | ||||||
| 7 | January 1, respectively), 5a, 5b, 5c, 5d, 5e, 5f, 5g, 5j, 5k, | ||||||
| 8 | 5l, 5m, 5n, 6d, 7, 8, 9, 10, 11 and 12 of the Retailers' | ||||||
| 9 | Occupation Tax Act which are not inconsistent with this Act, | ||||||
| 10 | and Section 3-7 of the Uniform Penalty and Interest Act, shall | ||||||
| 11 | apply, as far as practicable, to the subject matter of this Act | ||||||
| 12 | to the same extent as if such provisions were included herein. | ||||||
| 13 | (Source: P.A. 102-700, eff. 4-19-22; 103-9, eff. 6-7-23; | ||||||
| 14 | 103-595, eff. 6-26-24.) | ||||||
| 15 | Section 25. The Service Occupation Tax Act is amended by | ||||||
| 16 | changing Section 12 as follows: | ||||||
| 17 | (35 ILCS 115/12) (from Ch. 120, par. 439.112) | ||||||
| 18 | Sec. 12. All of the provisions of Sections 1d, 1e, 1f, 1i, | ||||||
| 19 | 1j, 1j.1, 1k, 1m, 1n, 1o, 2-6, 2-12, 2-28, 2-29, 2-54, 2a, 2b, | ||||||
| 20 | 2c, 3 (except as to the disposition by the Department of the | ||||||
| 21 | tax collected under this Act), 4 (except that the time | ||||||
| 22 | limitation provisions shall run from the date when the tax is | ||||||
| 23 | due rather than from the date when gross receipts are | ||||||
| 24 | received), 5 (except that the time limitation provisions on | ||||||
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| |||||||
| 1 | the issuance of notices of tax liability shall run from the | ||||||
| 2 | date when the tax is due rather than from the date when gross | ||||||
| 3 | receipts are received), 5a, 5b, 5c, 5d, 5e, 5f, 5g, 5j, 5k, 5l, | ||||||
| 4 | 5m, 5n, 6d, 7, 8, 9, 10, 11, and 12 of the Retailers' | ||||||
| 5 | Occupation Tax Act which are not inconsistent with this Act, | ||||||
| 6 | and Section 3-7 of the Uniform Penalty and Interest Act shall | ||||||
| 7 | apply, as far as practicable, to the subject matter of this Act | ||||||
| 8 | to the same extent as if such provisions were included herein. | ||||||
| 9 | (Source: P.A. 102-700, eff. 4-19-22; 103-9, eff. 6-7-23; | ||||||
| 10 | 103-595, eff. 6-26-24; 103-605, eff. 7-1-24.) | ||||||
| 11 | Section 30. The Retailers' Occupation Tax Act is amended | ||||||
| 12 | by adding Section 2-28 as follows: | ||||||
| 13 | (35 ILCS 120/2-28 new) | ||||||
| 14 | Sec. 2-28. Megaproject building materials exemption. | ||||||
| 15 | (a) Each retailer that makes a qualified sale of building | ||||||
| 16 | materials to be incorporated into real estate as part of a | ||||||
| 17 | building project at a megaproject site certified by the | ||||||
| 18 | Department of Commerce and Economic Opportunity under Section | ||||||
| 19 | 605-1119 of the Department of Commerce and Economic | ||||||
| 20 | Opportunity Law of the Civil Administrative Code of Illinois | ||||||
| 21 | may deduct receipts from those sales when calculating the tax | ||||||
| 22 | imposed by this Act. Megaproject Building Materials Exemption | ||||||
| 23 | Certificates shall be issued by the Department for an initial | ||||||
| 24 | period not to exceed 10 years and may be renewed by the | ||||||
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| 1 | Department for a period not to exceed 5 years. | ||||||
| 2 | (b) No retailer that is eligible for the deduction or | ||||||
| 3 | credit for a given sale under Section 5k of this Act related to | ||||||
| 4 | enterprise zones, Section 5l of this Act related to High | ||||||
| 5 | Impact Businesses, Section 5m of this Act related to REV | ||||||
| 6 | Illinois projects, Section 5n of this Act related to MICRO | ||||||
| 7 | Facilities, or Section 2-29 of this Act related to quantum | ||||||
| 8 | computing campuses shall be eligible for the deduction or | ||||||
| 9 | credit authorized under this Section for that same sale. | ||||||
| 10 | (c) A construction contractor or other entity shall not | ||||||
| 11 | make tax-free purchases unless it has an active Exemption | ||||||
| 12 | Certificate issued by the Department at the time of the | ||||||
| 13 | purchase. | ||||||
| 14 | (d) The Megaproject Administrator shall submit a request | ||||||
| 15 | to the Department for an initial certification or renewal of | ||||||
| 16 | the Megaproject Building Materials Exemption Certificate. Upon | ||||||
| 17 | request from the Megaproject Administrator, the Department | ||||||
| 18 | shall issue a Megaproject Building Materials Exemption | ||||||
| 19 | Certificate for each construction contractor or other entity | ||||||
| 20 | identified by the Megaproject Administrator. The Department | ||||||
| 21 | shall make the Megaproject Building Materials Exemption | ||||||
| 22 | Certificates available to each construction contractor or | ||||||
| 23 | other entity identified by the Megaproject Administrator and | ||||||
| 24 | to the Megaproject Administrator. Requests for Megaproject | ||||||
| 25 | Building Materials Exemption Certificates under this Section | ||||||
| 26 | must include the following information: | ||||||
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| 1 | (1) the name and address of the construction | ||||||
| 2 | contractor or other entity; | ||||||
| 3 | (2) the name and location or address of the building | ||||||
| 4 | project site; | ||||||
| 5 | (3) the estimated amount of the exemption for each | ||||||
| 6 | construction contractor or other entity for which a | ||||||
| 7 | request for a Megaproject Building Materials Exemption | ||||||
| 8 | Certificate is made, based on a stated estimated average | ||||||
| 9 | tax rate and the percentage of the contract that consists | ||||||
| 10 | of building materials; | ||||||
| 11 | (4) the period of time during which supplies for the | ||||||
| 12 | project are expected to be purchased; and | ||||||
| 13 | (5) other reasonable information as the Department may | ||||||
| 14 | require, including, but not limited to, FEIN numbers, to | ||||||
| 15 | determine if the contractor or other entity, or any | ||||||
| 16 | partner, corporate officer, or, in the case of a limited | ||||||
| 17 | liability company, any manager or member of the | ||||||
| 18 | construction contractor or other entity is or has been the | ||||||
| 19 | owner, partner, corporate officer, or, in the case of a | ||||||
| 20 | limited liability company, manager or member of a person | ||||||
| 21 | that is in default for moneys due to the Department under | ||||||
| 22 | this Act or any other tax or fee Act administered by the | ||||||
| 23 | Department. | ||||||
| 24 | The Department, in its discretion, may require that the | ||||||
| 25 | request for a Megaproject Building Materials Exemption | ||||||
| 26 | Certificate be submitted electronically. The Department may, | ||||||
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| 1 | in its discretion, issue Exemption Certificates | ||||||
| 2 | electronically. | ||||||
| 3 | (e) To document the exemption allowed under this Section, | ||||||
| 4 | the retailer must obtain from the purchaser the certification | ||||||
| 5 | required under this Section, which must contain the | ||||||
| 6 | Megaproject Building Materials Exemption Certificate number | ||||||
| 7 | issued to the purchaser by the Department. In addition, the | ||||||
| 8 | retailer must obtain a certification from the purchaser that | ||||||
| 9 | contains: | ||||||
| 10 | (1) a statement that the building materials are being | ||||||
| 11 | purchased for incorporation into real estate located in a | ||||||
| 12 | megaproject site; | ||||||
| 13 | (2) the location or address of the real estate into | ||||||
| 14 | which the building materials will be incorporated; | ||||||
| 15 | (3) the name of the megaproject in which that real | ||||||
| 16 | estate is located; | ||||||
| 17 | (4) a description of the building materials being | ||||||
| 18 | purchased; | ||||||
| 19 | (5) the purchaser's Megaproject Building Materials | ||||||
| 20 | Exemption Certificate number issued by the Department; and | ||||||
| 21 | (6) the purchaser's signature and date of purchase. | ||||||
| 22 | (f) The Department shall issue the Megaproject Building | ||||||
| 23 | Materials Exemption Certificates within 3 business days after | ||||||
| 24 | receipt of the request from the Megaproject Administrator. | ||||||
| 25 | This requirement does not apply if the Department, for | ||||||
| 26 | reasonable cause, is unable to issue the Exemption Certificate | ||||||
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| 1 | within 3 business days. The Department may refuse to issue a | ||||||
| 2 | Megaproject Building Materials Exemption Certificate if any | ||||||
| 3 | owner, partner, or corporate officer, or, in the case of a | ||||||
| 4 | limited liability company, any manager or member, of the | ||||||
| 5 | construction contractor or other entity is or has been an | ||||||
| 6 | owner, partner, corporate officer, or, in the case of a | ||||||
| 7 | limited liability company, manager or member, of a person that | ||||||
| 8 | is in default for moneys due to the Department under this Act | ||||||
| 9 | or any other tax or fee Act administered by the Department. | ||||||
| 10 | (g) The Megaproject Building Materials Exemption | ||||||
| 11 | Certificate shall contain: | ||||||
| 12 | (1) a unique identifying number that shall be designed | ||||||
| 13 | in such a way that the Department is able to identify from | ||||||
| 14 | the unique number on the Exemption Certificate issued to a | ||||||
| 15 | given construction contractor or other entity the name of | ||||||
| 16 | the megaproject site and the construction contractor or | ||||||
| 17 | other entity to whom the Exemption Certificate is issued; | ||||||
| 18 | (2) the name of the construction contractor or entity | ||||||
| 19 | to whom the Exemption Certificate is issued; | ||||||
| 20 | (3) the issuance date, effective date, and expiration | ||||||
| 21 | date of the Exemption Certificate; and | ||||||
| 22 | (4) language stating that, if the construction | ||||||
| 23 | contractor or other entity who is issued the Exemption | ||||||
| 24 | Certificate makes a tax-exempt purchase, as described in | ||||||
| 25 | this Section, that is not eligible for exemption under | ||||||
| 26 | this Section or allows another person to make a tax-exempt | ||||||
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| 1 | purchase, as described in this Section, that is not | ||||||
| 2 | eligible for exemption under this Section, then, in | ||||||
| 3 | addition to any tax or other penalty imposed, the | ||||||
| 4 | construction contractor or other entity is subject to a | ||||||
| 5 | penalty in an amount equal to the tax that would have been | ||||||
| 6 | paid by the retailer under this Act as well as any | ||||||
| 7 | applicable local retailers' occupation tax on the purchase | ||||||
| 8 | that is not eligible for the exemption. | ||||||
| 9 | (h) After the Department issues Exemption Certificates for | ||||||
| 10 | a given megaproject, the Megaproject Administrator may notify | ||||||
| 11 | the Department of additional construction contractors or other | ||||||
| 12 | entities that are eligible for a Megaproject Building | ||||||
| 13 | Materials Exemption Certificate. Upon receiving such a | ||||||
| 14 | notification and subject to the other provisions of this | ||||||
| 15 | Section, the Department shall issue a Megaproject Building | ||||||
| 16 | Materials Exemption Certificate to each additional | ||||||
| 17 | construction contractor or other entity so identified. | ||||||
| 18 | (i) A Megaproject Administrator may ask the Department to | ||||||
| 19 | rescind a Megaproject Building Materials Exemption Certificate | ||||||
| 20 | previously issued by the Department to a construction | ||||||
| 21 | contractor or other entity working at that certified | ||||||
| 22 | megaproject site if that Megaproject Building Materials | ||||||
| 23 | Exemption Certificate has not yet expired. Upon receiving such | ||||||
| 24 | a request and subject to the other provisions of this Section, | ||||||
| 25 | the Department shall issue the rescission of the Megaproject | ||||||
| 26 | Building Materials Exemption Certificate to the construction | ||||||
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| 1 | contractor or other entity identified by the Megaproject | ||||||
| 2 | Administrator and provide a copy of the rescission to the | ||||||
| 3 | construction contractor or other entity and to the Megaproject | ||||||
| 4 | Administrator. | ||||||
| 5 | (j) If the Department of Revenue determines that a | ||||||
| 6 | construction contractor or other entity that was issued an | ||||||
| 7 | Exemption Certificate under this Section made a tax-exempt | ||||||
| 8 | purchase, as described in this Section, that was not eligible | ||||||
| 9 | for exemption under this Section or allowed another person to | ||||||
| 10 | make a tax-exempt purchase, as described in this Section, that | ||||||
| 11 | was not eligible for exemption under this Section, then, in | ||||||
| 12 | addition to any tax or other penalty imposed, the construction | ||||||
| 13 | contractor or other entity is subject to a penalty equal to the | ||||||
| 14 | tax that would have been paid by the retailer under this Act as | ||||||
| 15 | well as any applicable local retailers' occupation tax on the | ||||||
| 16 | purchase that was not eligible for the exemption. | ||||||
| 17 | (k) Each contractor or other entity that has been issued a | ||||||
| 18 | Megaproject Building Materials Exemption Certificate under | ||||||
| 19 | this Section shall annually report to the Department the total | ||||||
| 20 | value of the megaproject building materials exemption from | ||||||
| 21 | State taxes. Reports under this subsection shall contain | ||||||
| 22 | information reasonably required by the Department to enable it | ||||||
| 23 | to verify and calculate the total tax benefits for taxes | ||||||
| 24 | imposed by the State and shall be categorized by megaproject | ||||||
| 25 | site. Reports under this subsection are due no later than May | ||||||
| 26 | 31 of each year and shall cover the previous calendar year. | ||||||
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| 1 | Failure to report data may result in revocation of the | ||||||
| 2 | Megaproject Building Materials Exemption Certificate issued to | ||||||
| 3 | the contractor or other entity. The Department may adopt rules | ||||||
| 4 | governing revocation determinations, including the length of | ||||||
| 5 | revocation. Factors to be considered in revocations shall | ||||||
| 6 | include, but are not limited to, prior compliance with the | ||||||
| 7 | reporting requirements, cooperation in discontinuing and | ||||||
| 8 | correcting violations, and whether the certificate was used | ||||||
| 9 | unlawfully during the preceding year. The Department, in its | ||||||
| 10 | discretion, may require that the reports filed under this | ||||||
| 11 | Section be submitted electronically. | ||||||
| 12 | (l) The Department shall propose rules as are reasonable | ||||||
| 13 | and necessary to implement the provisions of this Section | ||||||
| 14 | within 45 days after the effective date of this amendatory Act | ||||||
| 15 | of the 104th General Assembly. | ||||||
| 16 | (m) This Section is exempt from the provisions of Section | ||||||
| 17 | 2-70. | ||||||
| 18 | (n) The exemption set forth in this Section applies to the | ||||||
| 19 | Use Tax Act, the Service Use Tax Act, and the Service | ||||||
| 20 | Occupation Tax Act and is incorporated by reference in Section | ||||||
| 21 | 12 of each of those respective Acts. | ||||||
| 22 | (o) As used in this Section, "qualified sale" means a sale | ||||||
| 23 | of building materials that will be incorporated into real | ||||||
| 24 | estate as part of a building project for which a Megaproject | ||||||
| 25 | Building Materials Exemption Certificate has been issued to | ||||||
| 26 | the purchaser by the Department. | ||||||
| |||||||
| |||||||
| 1 | Section 35. The Property Tax Code is amended by changing | ||||||
| 2 | Section 20-15 and by adding Division 23 to Article 10 as | ||||||
| 3 | follows: | ||||||
| 4 | (35 ILCS 200/Art. 10 Div. 23 heading new) | ||||||
| 5 | Division 23. Megaprojects | ||||||
| 6 | (35 ILCS 200/10-1010 new) | ||||||
| 7 | Sec. 10-1010. Megaproject Assessment Freeze and Payment | ||||||
| 8 | Law; definitions. This Division 23 may be cited as the | ||||||
| 9 | Megaproject Assessment Freeze and Payment Law. | ||||||
| 10 | As used in this Division: | ||||||
| 11 | "Assessment officer" means the chief county assessment | ||||||
| 12 | officer of the county in which the megaproject is located. | ||||||
| 13 | "Assessment period" means the period beginning on the | ||||||
| 14 | first day of the calendar year after the calendar year in which | ||||||
| 15 | a megaproject is placed in service and ending on the date when | ||||||
| 16 | the megaproject no longer qualifies as a megaproject under | ||||||
| 17 | this Division. | ||||||
| 18 | "Base year" means: | ||||||
| 19 | (1) the calendar year prior to the calendar year in | ||||||
| 20 | which the Department issues the megaproject certificate, | ||||||
| 21 | if the Department issues a megaproject certificate for a | ||||||
| 22 | project located on the property without granting | ||||||
| 23 | preliminary approval for the project under Section | ||||||
| |||||||
| |||||||
| 1 | 10-1040; or | ||||||
| 2 | (2) the calendar year prior to the calendar year in | ||||||
| 3 | which the Department grants that preliminary approval, if | ||||||
| 4 | the Department grants preliminary approval under Section | ||||||
| 5 | 10-1040 for a megaproject located on the property. | ||||||
| 6 | "Base year valuation" means the assessed value, in the | ||||||
| 7 | base year, of the property comprising the megaproject. | ||||||
| 8 | "Company" means one or more entities whose aggregate | ||||||
| 9 | investment in the megaproject meets the minimum investment | ||||||
| 10 | required under this Division. The term "company" includes a | ||||||
| 11 | company affiliate unless the context clearly indicates | ||||||
| 12 | otherwise. | ||||||
| 13 | "Company affiliate" means an entity that joins with or is | ||||||
| 14 | an affiliate of a company and that participates in the | ||||||
| 15 | investment in, or financing of, a megaproject. | ||||||
| 16 | "Consumer Price Index" means the index published by the | ||||||
| 17 | Bureau of Labor Statistics of the United States Department of | ||||||
| 18 | Labor that measures the average change in prices of goods and | ||||||
| 19 | services purchased by all urban consumers, United States city | ||||||
| 20 | average, all items, 1982-84 = 100. | ||||||
| 21 | "Department" means the Department of Commerce and Economic | ||||||
| 22 | Opportunity. | ||||||
| 23 | "Eligible costs" means all costs incurred by or on behalf | ||||||
| 24 | of, or allocated to, a company, prior to the Department's | ||||||
| 25 | issuance of the megaproject certificate or during the | ||||||
| 26 | investment period, to create or construct a megaproject. | ||||||
| |||||||
| |||||||
| 1 | "Eligible costs" includes, without limitation: | ||||||
| 2 | (1) the purchase, site preparation, renovation, | ||||||
| 3 | rehabilitation, and construction of land, buildings, | ||||||
| 4 | structures, equipment, and furnishings used for or in the | ||||||
| 5 | megaproject; | ||||||
| 6 | (2) any goods or services for the megaproject that are | ||||||
| 7 | purchased and capitalized under generally accepted | ||||||
| 8 | accounting principles, including any organizational costs | ||||||
| 9 | and research and development costs incurred in Illinois; | ||||||
| 10 | (3) capitalized lease costs for land, buildings, | ||||||
| 11 | structures, and equipment valued at their present value | ||||||
| 12 | using the interest rate at which the company borrows funds | ||||||
| 13 | prevailing at the time the company entered into the lease; | ||||||
| 14 | (4) infrastructure development costs; | ||||||
| 15 | (5) debt service and project financing costs; and | ||||||
| 16 | (6) remediation costs, as defined in Section 58.2 of | ||||||
| 17 | the Environmental Protection Act, incurred voluntarily as | ||||||
| 18 | a non-responsible party pursuant to Title XVII of the | ||||||
| 19 | Environmental Protection Act and rules adopted under that | ||||||
| 20 | Title. | ||||||
| 21 | "Entity" means a sole proprietor, partnership, firm, | ||||||
| 22 | corporation, limited liability company, association, or other | ||||||
| 23 | business enterprise. | ||||||
| 24 | "Full-time employee" means an individual who is employed | ||||||
| 25 | for consideration for at least 35 hours each week or who | ||||||
| 26 | renders any other standard of service generally accepted by | ||||||
| |||||||
| |||||||
| 1 | industry custom or practice as full-time employment. An | ||||||
| 2 | individual for whom a W-2 is issued by a professional employer | ||||||
| 3 | organization is a full-time employee if he or she is employed | ||||||
| 4 | in the service of the applicant for at least 35 hours each week | ||||||
| 5 | or renders any other standard of service generally accepted by | ||||||
| 6 | industry custom or practice as full-time employment. An owner, | ||||||
| 7 | operator, or tenant who employs labor or services at a | ||||||
| 8 | specific site or facility under contract with another may | ||||||
| 9 | declare one full-time job for every 1,820 man-hours worked per | ||||||
| 10 | year under the contract. Vacations, paid holidays, and sick | ||||||
| 11 | time are included in this computation, but overtime is not | ||||||
| 12 | considered a part of regular hours. | ||||||
| 13 | "Incentive agreement" means an agreement between a company | ||||||
| 14 | and a local municipality obligating the company to make the | ||||||
| 15 | special payment under this Division, in addition to paying | ||||||
| 16 | property taxes, during the incentive period for a megaproject. | ||||||
| 17 | "Incentive period" means the period beginning on the first | ||||||
| 18 | day of the calendar year after the calendar year in which the | ||||||
| 19 | megaproject is placed in service and each calendar year | ||||||
| 20 | thereafter until the earlier of (i) the termination date or | ||||||
| 21 | (ii) the revocation of the megaproject certificate. | ||||||
| 22 | "Investment period" means the period ending 7 years after | ||||||
| 23 | the date on which the Department issues the megaproject | ||||||
| 24 | certificate, or such other longer period of time as the local | ||||||
| 25 | municipality and the company may agree to, not to exceed an | ||||||
| 26 | initial period of 10 years. | ||||||
| |||||||
| |||||||
| 1 | "Local municipality" means the city, village, or | ||||||
| 2 | incorporated town in which the megaproject is located or, if | ||||||
| 3 | the megaproject is located in an unincorporated area, the | ||||||
| 4 | county in which the megaproject is located. | ||||||
| 5 | "Megaproject" means a project that satisfies the minimum | ||||||
| 6 | investment requirements; job creation requirements, if | ||||||
| 7 | applicable; investment period requirements; and other | ||||||
| 8 | requirements of this Division. | ||||||
| 9 | "Megaproject certificate" means a certificate issued by | ||||||
| 10 | the Department that authorizes an assessment freeze as | ||||||
| 11 | provided in this Division. | ||||||
| 12 | "Minimum investment" means an investment during the | ||||||
| 13 | investment period in the megaproject of at least: | ||||||
| 14 | (1) $1,000,000,000 in eligible costs within the | ||||||
| 15 | investment period and the creation of at least 50 new | ||||||
| 16 | full-time jobs; or | ||||||
| 17 | (2) $500,000,000 in eligible costs within the | ||||||
| 18 | investment period and the creation of at least 100 new | ||||||
| 19 | full-time jobs. | ||||||
| 20 | "Minority person" means a person who is a citizen or | ||||||
| 21 | lawful permanent resident of the United States and who is any | ||||||
| 22 | of the following: | ||||||
| 23 | (1) American Indian or Alaska Native (a person having | ||||||
| 24 | origins in any of the original peoples of North and South | ||||||
| 25 | America, including Central America, and who maintains | ||||||
| 26 | tribal affiliation or community attachment). | ||||||
| |||||||
| |||||||
| 1 | (2) Asian (a person having origins in any of the | ||||||
| 2 | original peoples of the Far East, Southeast Asia, or the | ||||||
| 3 | Indian subcontinent, including, but not limited to, | ||||||
| 4 | Cambodia, China, India, Japan, Korea, Malaysia, Pakistan, | ||||||
| 5 | the Philippine Islands, Thailand, and Vietnam). | ||||||
| 6 | (3) Black or African American (a person having origins | ||||||
| 7 | in any of the black racial groups of Africa). | ||||||
| 8 | (4) Hispanic or Latino (a person of Cuban, Mexican, | ||||||
| 9 | Puerto Rican, South or Central American, or other Spanish | ||||||
| 10 | culture or origin, regardless of race). | ||||||
| 11 | (5) Native Hawaiian or Other Pacific Islander (a | ||||||
| 12 | person having origins in any of the original peoples of | ||||||
| 13 | Hawaii, Guam, Samoa, or other Pacific Islands). | ||||||
| 14 | "Minority-owned business" means a business that is at | ||||||
| 15 | least 51% owned by one or more minority persons, or that, in | ||||||
| 16 | the case of a corporation, has at least 51% of its stock owned | ||||||
| 17 | by one or more minority persons, and that, in either case, is | ||||||
| 18 | managed and operated on a daily basis by one or more of the | ||||||
| 19 | minority individuals who own the business. | ||||||
| 20 | "New full-time employee" means a full-time employee who | ||||||
| 21 | first became employed by the owner, operator, contractor, or | ||||||
| 22 | tenant of the megaproject during the investment period and | ||||||
| 23 | whose hiring results in a net increase in the owner's, | ||||||
| 24 | operator's, contractor's, or tenant's total number of | ||||||
| 25 | full-time Illinois employees. | ||||||
| 26 | "New full-time employee" does not include: | ||||||
| |||||||
| |||||||
| 1 | (1) a person who was previously employed in Illinois | ||||||
| 2 | by the applicant or a related family member prior to the | ||||||
| 3 | onset of the investment or incentive period; or | ||||||
| 4 | (2) an individual who has a direct or indirect | ||||||
| 5 | ownership interest of at least 5% in the profits, capital, | ||||||
| 6 | or value of the applicant. | ||||||
| 7 | "New full-time job" means an employment position with the | ||||||
| 8 | owner, operator, contractor, or tenant of the megaproject that | ||||||
| 9 | is located in Illinois and that is filled by a new full-time | ||||||
| 10 | employee. | ||||||
| 11 | "Placed in service" means that the company has commenced | ||||||
| 12 | its business operations at the megaproject site and has met | ||||||
| 13 | its minimum investment and job creation requirements under | ||||||
| 14 | this Section, if applicable. | ||||||
| 15 | "Project" means land, buildings, and other improvements on | ||||||
| 16 | the land, including water facilities, sewage treatment and | ||||||
| 17 | disposal facilities, and all other machinery, apparatuses, | ||||||
| 18 | equipment, office facilities, related infrastructure, and | ||||||
| 19 | furnishings that are considered necessary, suitable, or useful | ||||||
| 20 | by a company and comprise the megaproject, including all of | ||||||
| 21 | that property that is subject to assessment under the Property | ||||||
| 22 | Tax Code. | ||||||
| 23 | "Special payment" means the annual amount paid in addition | ||||||
| 24 | to property taxes paid during the incentive period as provided | ||||||
| 25 | in the incentive agreement. | ||||||
| 26 | "Taxing district" has the meaning given to that term in | ||||||
| |||||||
| |||||||
| 1 | Section 1-150. | ||||||
| 2 | "Termination date" means the last day of a calendar year | ||||||
| 3 | that is no earlier than the 23rd year and no later than the | ||||||
| 4 | 40th year following the first calendar year in which a | ||||||
| 5 | megaproject is placed in service; however, if the preparation | ||||||
| 6 | of the site required, or the company performed, environmental | ||||||
| 7 | remediation under any applicable State or federal laws, then | ||||||
| 8 | "termination date" means the last day of a calendar year that | ||||||
| 9 | is no later than the 45th year following the first calendar | ||||||
| 10 | year in which a megaproject is placed in service. If the | ||||||
| 11 | incentive agreement is terminated under Section 10-1037, then | ||||||
| 12 | the termination date is the date the agreement is terminated. | ||||||
| 13 | (35 ILCS 200/10-1015 new) | ||||||
| 14 | Sec. 10-1015. Valuation during incentive period; | ||||||
| 15 | eligibility. | ||||||
| 16 | (a) Property that receives a megaproject certificate from | ||||||
| 17 | the Department is eligible for an assessment freeze, as | ||||||
| 18 | provided in this Division, eliminating from consideration, for | ||||||
| 19 | assessment purposes during the incentive period, the value | ||||||
| 20 | added to the property by the project and limiting the total | ||||||
| 21 | valuation of the property during the incentive period to the | ||||||
| 22 | base year valuation. If the company does not anticipate | ||||||
| 23 | completing the project within the investment period, then the | ||||||
| 24 | local municipality may approve one or more extensions of time | ||||||
| 25 | to complete the project. However, the local municipality may | ||||||
| |||||||
| |||||||
| 1 | not extend the project for a period that exceeds 5 years after | ||||||
| 2 | the last day of the investment period. Unless approved as part | ||||||
| 3 | of the original incentive agreement, the corporate authorities | ||||||
| 4 | of the local municipality may approve an extension under this | ||||||
| 5 | subsection by resolution, a copy of which must be delivered to | ||||||
| 6 | the Department within 30 days after the date the resolution is | ||||||
| 7 | adopted. | ||||||
| 8 | (b) To qualify for the assessment freeze, the company | ||||||
| 9 | must: | ||||||
| 10 | (1) make the minimum investment in the megaproject | ||||||
| 11 | during the investment period; | ||||||
| 12 | (2) enter into an incentive agreement with the local | ||||||
| 13 | municipality as described in this Division; | ||||||
| 14 | (3) if applicable as part of the minimum investment | ||||||
| 15 | criteria, create the applicable number of new full-time | ||||||
| 16 | jobs as a result of the megaproject; | ||||||
| 17 | (4) establish the goal of awarding 15% of the total | ||||||
| 18 | dollar amount of contracts that are related to the | ||||||
| 19 | megaproject and are awarded by the company during each | ||||||
| 20 | calendar year to minority-owned businesses; and | ||||||
| 21 | (5) fulfill all monetary obligations remaining under | ||||||
| 22 | any lease agreement entered into with a municipality for | ||||||
| 23 | the use of taxpayer-supported facilities if those | ||||||
| 24 | facilities will not be used by the company as a result of | ||||||
| 25 | the company pursuing a megaproject certificate under this | ||||||
| 26 | Division for a facility in a different municipality. | ||||||
| |||||||
| |||||||
| 1 | (c) For purposes of this Division, if a single company | ||||||
| 2 | enters into a financing arrangement of the type described in | ||||||
| 3 | subsection (b) of Section 10-1050, the investment in or | ||||||
| 4 | financing of the property by a developer, lessor, financing | ||||||
| 5 | entity, or other third party in accordance with this | ||||||
| 6 | arrangement is considered investment by the company. | ||||||
| 7 | Investment by a related person to the company is considered | ||||||
| 8 | investment by the company. | ||||||
| 9 | (35 ILCS 200/10-1020 new) | ||||||
| 10 | Sec. 10-1020. Incentive agreement; assessment freeze for | ||||||
| 11 | megaprojects; incentive period; location of the project; | ||||||
| 12 | criteria to qualify. | ||||||
| 13 | (a) To obtain the benefits provided in this Division, the | ||||||
| 14 | company shall, before January 1, 2031, apply in writing to the | ||||||
| 15 | local municipality to enter into an incentive agreement with | ||||||
| 16 | the municipality, in the form and manner required by the local | ||||||
| 17 | municipality, and shall certify to the facts asserted in the | ||||||
| 18 | application. | ||||||
| 19 | (b) The corporate authorities of the local municipality, | ||||||
| 20 | prior to entering into an incentive agreement under this | ||||||
| 21 | Section, shall hold a public hearing to consider the | ||||||
| 22 | application. The amount and terms of the proposed special | ||||||
| 23 | payment and the duration of the incentive agreement shall be | ||||||
| 24 | considered at the public hearing. | ||||||
| 25 | (c) The local municipality may not enter into, alter, or | ||||||
| |||||||
| |||||||
| 1 | amend an incentive agreement under this Division unless and | ||||||
| 2 | until all of the following are considered and approved by a | ||||||
| 3 | majority of the members of a local review board, in accordance | ||||||
| 4 | with the weighted vote set forth below: | ||||||
| 5 | (1) the base year; | ||||||
| 6 | (2) the base year valuation; and | ||||||
| 7 | (3) the amount of the special payment, including the | ||||||
| 8 | manner in which the payment will adjust over time. | ||||||
| 9 | (c-10) As duly elected officials representing their | ||||||
| 10 | respective bodies, local review board members are entrusted to | ||||||
| 11 | keep in mind the best interests of the entire affected | ||||||
| 12 | community area of the project for the short and long term. | ||||||
| 13 | Members are expected to review the project reports and | ||||||
| 14 | information, where provided and applicable, on behalf of the | ||||||
| 15 | constituents they represent. The board may request additional | ||||||
| 16 | documentation from the applicant to inform its review as the | ||||||
| 17 | board deems necessary to render a decision. The local review | ||||||
| 18 | board shall consist of one representative of each of the | ||||||
| 19 | following: (i) the school districts with the power to levy | ||||||
| 20 | taxes over any portion of the proposed site of the | ||||||
| 21 | megaproject; (ii) the unit of local government with primary | ||||||
| 22 | responsibility for providing fire protection service to the | ||||||
| 23 | proposed megaproject site; (iii) the unit of local government | ||||||
| 24 | with primary responsibility for providing police service to | ||||||
| 25 | the proposed megaproject site; (iv) the taxing districts that | ||||||
| 26 | are responsible for providing water or wastewater service to | ||||||
| |||||||
| |||||||
| 1 | the proposed megaproject site; and (v) any other taxing | ||||||
| 2 | district with the power to levy property taxes over any | ||||||
| 3 | portion of the proposed site of the megaproject. If a unit of | ||||||
| 4 | local government has primary responsibility for providing fire | ||||||
| 5 | protection service, police service, and water or wastewater | ||||||
| 6 | service to the proposed megaproject site, then the unit of | ||||||
| 7 | local government shall be represented on the local review | ||||||
| 8 | board by only one individual. | ||||||
| 9 | (c-15) The vote of the local review board shall be | ||||||
| 10 | weighted on a 100-point scale as follows: (i) 40% of the | ||||||
| 11 | weighted vote shall be allocated to school districts with the | ||||||
| 12 | power to levy taxes over any portion of the proposed site of | ||||||
| 13 | the megaproject; (ii) 20% of the weighted vote shall be | ||||||
| 14 | allocated to the unit of local government with primary | ||||||
| 15 | responsibility for providing fire protection service to the | ||||||
| 16 | proposed megaproject site; (iii) 20% of the weighted vote | ||||||
| 17 | shall be allocated to the unit of local government with | ||||||
| 18 | primary responsibility for providing police service to the | ||||||
| 19 | proposed megaproject site; (iv) 10% of the weighted vote shall | ||||||
| 20 | be allocated equally among the taxing districts that are | ||||||
| 21 | responsible for providing water or wastewater service to the | ||||||
| 22 | proposed megaproject site and, if no taxing district provides | ||||||
| 23 | either water or wastewater service to the proposed megaproject | ||||||
| 24 | site, the 10% shall be divided among the remaining taxing | ||||||
| 25 | districts based on the share of property taxes levied on the | ||||||
| 26 | proposed site of the megaproject at the time of application | ||||||
| |||||||
| |||||||
| 1 | for an incentive agreement; and (v) 10% of the weighted vote | ||||||
| 2 | shall be allocated to the remaining taxing districts based on | ||||||
| 3 | the share of property taxes levied on the proposed site of the | ||||||
| 4 | megaproject at the time of application for an incentive | ||||||
| 5 | agreement. All plan documents relied upon by the municipality | ||||||
| 6 | in its review of the application for an incentive agreement | ||||||
| 7 | under this Division shall be provided to the local review | ||||||
| 8 | board. The local review board may make reasonable requests of | ||||||
| 9 | the municipality for additional documents related to the | ||||||
| 10 | megaproject. All meetings of the local review board shall be | ||||||
| 11 | open to the public and subject to the requirements of the Open | ||||||
| 12 | Meetings Act. | ||||||
| 13 | A taxing body may be allocated a weighted vote from more | ||||||
| 14 | than one category under items (i) through (v) of this | ||||||
| 15 | subsection. However, no taxing district under this Division | ||||||
| 16 | shall be allocated more than a 50% weighted vote on the local | ||||||
| 17 | review board. If, pursuant to this subsection, a taxing body | ||||||
| 18 | is to be allocated a weighted vote exceeding 50% under items | ||||||
| 19 | (i) through (v), any weighted vote above 50% shall be | ||||||
| 20 | proportionally distributed among the other taxing districts, | ||||||
| 21 | based on the share of property taxes levied on the proposed | ||||||
| 22 | site of the megaproject at the time of application for an | ||||||
| 23 | incentive agreement. | ||||||
| 24 | (d) The company and the local municipality shall enter | ||||||
| 25 | into an incentive agreement requiring the special payment | ||||||
| 26 | described in Section 10-1025. The corporate authorities of the | ||||||
| |||||||
| |||||||
| 1 | local municipality shall adopt an ordinance approving the | ||||||
| 2 | incentive agreement. | ||||||
| 3 | (35 ILCS 200/10-1025 new) | ||||||
| 4 | Sec. 10-1025. Contents of incentive agreement. | ||||||
| 5 | (a) The incentive agreement under Section 10-1020 must | ||||||
| 6 | require the company to pay, or be responsible for the payment | ||||||
| 7 | of, an annual special payment to the local municipality, | ||||||
| 8 | beginning with the first tax year for which the assessment | ||||||
| 9 | freeze under this Division is applied to the megaproject. The | ||||||
| 10 | amount of the special payment shall be established in the | ||||||
| 11 | incentive agreement and may be a fixed amount for the duration | ||||||
| 12 | of the incentive period or may be subject to adjustment | ||||||
| 13 | downward or upward based on factors memorialized in the | ||||||
| 14 | incentive agreement. The amount of the special payment may | ||||||
| 15 | exceed but shall not be less than 10% of the property tax | ||||||
| 16 | levied against the megaproject property for the year | ||||||
| 17 | immediately preceding the base year. | ||||||
| 18 | (b) The incentive agreement shall obligate the company to | ||||||
| 19 | operate the megaproject at the designated project location for | ||||||
| 20 | a minimum of 20 years. | ||||||
| 21 | (c) The incentive agreement may contain such other terms | ||||||
| 22 | and conditions as are mutually agreeable to the local | ||||||
| 23 | municipality and the company and are consistent with the | ||||||
| 24 | requirements of this Division, including, without limitation, | ||||||
| 25 | operational and job creation requirements. | ||||||
| |||||||
| |||||||
| 1 | (d) In addition, all incentive agreements entered into | ||||||
| 2 | under Section 10-1020 must include, as the first portion of | ||||||
| 3 | the document, a recapitulation of the remaining contents of | ||||||
| 4 | the document, which shall include the following: | ||||||
| 5 | (1) the legal name of each party to the agreement; | ||||||
| 6 | (2) the street address of the project and the property | ||||||
| 7 | subject to the agreement; | ||||||
| 8 | (3) the agreed minimum investment; | ||||||
| 9 | (3.5) the agreed number of new full-time employees to | ||||||
| 10 | be employed, if applicable; | ||||||
| 11 | (4) the term of the agreement; | ||||||
| 12 | (5) a schedule showing the amount of the special | ||||||
| 13 | payment and its calculation for each year of the | ||||||
| 14 | agreement; | ||||||
| 15 | (6) a schedule showing the amount to be distributed | ||||||
| 16 | annually to each taxing district, as set forth in the | ||||||
| 17 | incentive agreement; | ||||||
| 18 | (7) any other feature or aspect of the agreement which | ||||||
| 19 | may affect the calculation of items (5) and (6) of this | ||||||
| 20 | subsection; | ||||||
| 21 | (8) the party or parties to the agreement who are | ||||||
| 22 | responsible for updating the information contained in the | ||||||
| 23 | summary document; | ||||||
| 24 | (9) a requirement that the company submit a | ||||||
| 25 | third-party agreed-upon procedures report verifying that | ||||||
| 26 | the project has been placed in service and that the | ||||||
| |||||||
| |||||||
| 1 | minimum investment and job creation requirements under | ||||||
| 2 | this Division have been met; and | ||||||
| 3 | (10) after the project has been placed in service, a | ||||||
| 4 | requirement that the company submit annual reports | ||||||
| 5 | demonstrating that it has maintained the agreed number of | ||||||
| 6 | new full-time employees at the megaproject site, if | ||||||
| 7 | applicable under the minimum investment criteria. | ||||||
| 8 | (35 ILCS 200/10-1027 new) | ||||||
| 9 | Sec. 10-1027. Minimum job creation requirements. | ||||||
| 10 | (a) If applicable under the minimum investment criteria of | ||||||
| 11 | this Division, the new full-time employees must be hired to | ||||||
| 12 | support the business operations of the megaproject and must | ||||||
| 13 | reside within the State of Illinois. | ||||||
| 14 | (b) A company may not satisfy the requirements of this | ||||||
| 15 | Section by relocating jobs from one site in Illinois to | ||||||
| 16 | another site in Illinois. | ||||||
| 17 | (35 ILCS 200/10-1030 new) | ||||||
| 18 | Sec. 10-1030. Installment bills; distribution of special | ||||||
| 19 | payments. | ||||||
| 20 | (a) The local municipality shall prepare a bill for the | ||||||
| 21 | company for each installment of the special payment according | ||||||
| 22 | to the schedule set forth in paragraph (5) of subsection (d) of | ||||||
| 23 | Section 10-1025, or as modified pursuant to paragraph (7) of | ||||||
| 24 | subsection (d) of Section 10-1025. The company shall pay each | ||||||
| |||||||
| |||||||
| 1 | installment of the special payment to the local municipality. | ||||||
| 2 | The treasurer of the local municipality shall deposit 30% of | ||||||
| 3 | the special payment proceeds, when collected, into a locally | ||||||
| 4 | held property tax relief fund. Moneys in the property tax | ||||||
| 5 | relief fund shall be used for property tax rebates to the | ||||||
| 6 | owners of commercial or residential property located in taxing | ||||||
| 7 | districts in which the megaproject is located. Property tax | ||||||
| 8 | rebates shall be distributed proportionally, with each | ||||||
| 9 | eligible recipient receiving the same percentage of the real | ||||||
| 10 | estate taxes paid during the preceding taxable year. The | ||||||
| 11 | municipality shall distribute the remainder of the special | ||||||
| 12 | payment proceeds to each affected taxing district in an amount | ||||||
| 13 | equal to the taxing district's proportionate share of property | ||||||
| 14 | taxes due and payable for the megaproject site, as evidenced | ||||||
| 15 | only by the proportionate share of each taxing district at the | ||||||
| 16 | time of application for the initial incentive agreement. | ||||||
| 17 | (b) Distribution to the taxing districts of the special | ||||||
| 18 | payment associated with the megaproject must be made within 60 | ||||||
| 19 | days after receipt by the local municipality of the special | ||||||
| 20 | payment amounts. | ||||||
| 21 | (c) Misallocations of the special payments may be | ||||||
| 22 | corrected by adjusting later distributions, but these | ||||||
| 23 | adjustments must be made in the next succeeding year following | ||||||
| 24 | identification and resolution of the misallocation. To the | ||||||
| 25 | extent that distributions have been made improperly in | ||||||
| 26 | previous years, claims for adjustment must be made within one | ||||||
| |||||||
| |||||||
| 1 | year of the distribution. | ||||||
| 2 | (d) A taxing district that receives and retains revenues | ||||||
| 3 | from a special payment under this Division may, in its | ||||||
| 4 | discretion and in accordance with applicable law, use all or a | ||||||
| 5 | portion of the revenues for the purposes of financing the | ||||||
| 6 | issuance of revenue bonds. | ||||||
| 7 | (35 ILCS 200/10-1037 new) | ||||||
| 8 | Sec. 10-1037. Termination of incentive agreement; | ||||||
| 9 | automatic termination; minimum level of investment and new job | ||||||
| 10 | creation required to remain qualified for assessment freeze. | ||||||
| 11 | (a) The local municipality and the company may mutually | ||||||
| 12 | agree to terminate the incentive agreement at any time. From | ||||||
| 13 | the date of termination, the megaproject is subject to | ||||||
| 14 | assessment on the basis of the then-current fair cash value. | ||||||
| 15 | (b) An incentive agreement shall be terminated if the | ||||||
| 16 | company fails to satisfy the minimum investment level or the | ||||||
| 17 | job creation requirements, if applicable, provided in this | ||||||
| 18 | Division. If the incentive agreement is terminated under this | ||||||
| 19 | subsection, the megaproject is subject to assessment on the | ||||||
| 20 | basis of the then-current fair cash value beginning in the tax | ||||||
| 21 | year during which the termination occurs. | ||||||
| 22 | (c) An incentive agreement shall terminate if, at any | ||||||
| 23 | time, the company no longer has the minimum level of new job | ||||||
| 24 | creation, if applicable, or investment as provided in this | ||||||
| 25 | Division, without regard to depreciation. | ||||||
| |||||||
| |||||||
| 1 | (35 ILCS 200/10-1038 new) | ||||||
| 2 | Sec. 10-1038. Megaproject administration. The | ||||||
| 3 | administration of a megaproject shall be under the | ||||||
| 4 | jurisdiction of the local municipality that approved the | ||||||
| 5 | incentive agreement by ordinance. Each local municipality that | ||||||
| 6 | approves an incentive agreement by ordinance shall, by | ||||||
| 7 | ordinance, designate a Megaproject Administrator for the | ||||||
| 8 | megaproject within its jurisdiction. A Megaproject | ||||||
| 9 | Administrator must be an officer or employee of the local | ||||||
| 10 | municipality. The Megaproject Administrator shall be the | ||||||
| 11 | liaison between the local municipality, the Department, and | ||||||
| 12 | the Department of Revenue. The Megaproject Administrator shall | ||||||
| 13 | be responsible for ensuring the company is complying with the | ||||||
| 14 | terms of the incentive agreement. The Megaproject | ||||||
| 15 | Administrator shall notify the county assessor once the | ||||||
| 16 | project is placed in service and is eligible for the property | ||||||
| 17 | tax assessment freeze pursuant to Section 10-1015. | ||||||
| 18 | (35 ILCS 200/10-1040 new) | ||||||
| 19 | Sec. 10-1040. Megaproject applications; certification as a | ||||||
| 20 | megaproject and revocation of certification. | ||||||
| 21 | (a) The Department shall receive applications for | ||||||
| 22 | megaproject certificates under this Division. The Department | ||||||
| 23 | shall promptly notify the assessment officer when the | ||||||
| 24 | Department receives an application under this Section. | ||||||
| |||||||
| |||||||
| 1 | (b) An applicant for a megaproject certificate under this | ||||||
| 2 | Division must provide evidence to the Department of a fully | ||||||
| 3 | executed incentive agreement between the company and the local | ||||||
| 4 | municipality, as described in this Division, and the | ||||||
| 5 | Department shall verify that the incentive agreement meets the | ||||||
| 6 | requirements of Section 10-1025. | ||||||
| 7 | (c) An applicant for a megaproject certificate under this | ||||||
| 8 | Division must provide evidence to the Department that the | ||||||
| 9 | company has established the goal of awarding 15% of the total | ||||||
| 10 | dollar amount of contracts awarded during each calendar year | ||||||
| 11 | by the company, that are related to the project, to | ||||||
| 12 | minority-owned businesses. | ||||||
| 13 | (d) No project that contains any residential dwelling | ||||||
| 14 | units may be certified as a megaproject under this Division. | ||||||
| 15 | (e) The Department shall approve an application for a | ||||||
| 16 | megaproject certificate if the Department finds that the | ||||||
| 17 | project meets the requirements of this Division. | ||||||
| 18 | (f) Upon approval of the application, the Department shall | ||||||
| 19 | issue a megaproject certificate to the applicant and transmit | ||||||
| 20 | a copy to the assessment officer and the Department of | ||||||
| 21 | Revenue. The certificate shall identify the property on which | ||||||
| 22 | the megaproject is located and state that the property is | ||||||
| 23 | eligible for the property tax assessment freeze pursuant to | ||||||
| 24 | Section 10-1015 once the project is placed in service. | ||||||
| 25 | (g) On May 1 of each calendar year following issuance of | ||||||
| 26 | the megaproject certificate, until the minimum investment and | ||||||
| |||||||
| |||||||
| 1 | new job creation requirements, if applicable, have been met | ||||||
| 2 | and the megaproject has been placed in service, the company | ||||||
| 3 | shall deliver a report to the Department and Megaproject | ||||||
| 4 | Administrator on the status of construction or creation of the | ||||||
| 5 | megaproject and the amount of minimum investment made in the | ||||||
| 6 | megaproject during the preceding calendar year. If a project | ||||||
| 7 | for which a certificate has been issued has not met the minimum | ||||||
| 8 | investment and, if applicable, job creation requirements of | ||||||
| 9 | this Division within the investment period, the Department | ||||||
| 10 | shall revoke the certificate by written notice to the taxpayer | ||||||
| 11 | of record and transmit a copy of the revocation to the | ||||||
| 12 | assessment officer. | ||||||
| 13 | (h) If the local municipality notifies the Department that | ||||||
| 14 | the incentive agreement between the company and the local | ||||||
| 15 | municipality has been terminated, the Department shall revoke | ||||||
| 16 | the certificate by written notice to the taxpayer of record | ||||||
| 17 | and transmit a copy of the revocation to the assessment | ||||||
| 18 | officer. | ||||||
| 19 | (35 ILCS 200/10-1045 new) | ||||||
| 20 | Sec. 10-1045. Computation of valuation. | ||||||
| 21 | (a) Upon receipt of the megaproject certificate from the | ||||||
| 22 | Department, the assessment officer shall set the assessment of | ||||||
| 23 | the megaproject property based upon the terms of the incentive | ||||||
| 24 | agreement and shall make a notation on each statement of | ||||||
| 25 | assessment during the assessment period that the valuation of | ||||||
| |||||||
| |||||||
| 1 | the project is based upon the issuance of a megaproject | ||||||
| 2 | certificate. | ||||||
| 3 | (b) Upon revocation of a megaproject certificate, the | ||||||
| 4 | assessment officer shall compute the assessed valuation of the | ||||||
| 5 | project on the basis of the then-current fair cash value of the | ||||||
| 6 | property. | ||||||
| 7 | (35 ILCS 200/10-1050 new) | ||||||
| 8 | Sec. 10-1050. Transfers of interest in a megaproject; | ||||||
| 9 | sale-leaseback arrangement; requirements. | ||||||
| 10 | (a) Subject to the terms of the incentive agreement | ||||||
| 11 | between the company and the local municipality, ownership of | ||||||
| 12 | or any interest in the megaproject and any and all related | ||||||
| 13 | megaproject property, including, without limitation, transfers | ||||||
| 14 | of indirect beneficial interests and equity interests in a | ||||||
| 15 | company owning a megaproject, shall not affect the assessment | ||||||
| 16 | freeze or the validity of the megaproject certificate issued | ||||||
| 17 | under this Division. Notwithstanding the provisions of this | ||||||
| 18 | subsection, the incentive agreement shall be a covenant | ||||||
| 19 | running with the land. | ||||||
| 20 | (b) A company may enter into lending, financing, security, | ||||||
| 21 | leasing, or similar arrangements, or a succession of such | ||||||
| 22 | arrangements, with a financing entity concerning all or part | ||||||
| 23 | of a project, including, without limitation, a sale-leaseback | ||||||
| 24 | arrangement, equipment lease, build-to-suit lease, synthetic | ||||||
| 25 | lease, nordic lease, defeased tax benefit, or transfer lease, | ||||||
| |||||||
| |||||||
| 1 | an assignment, sublease, or similar arrangement, or succession | ||||||
| 2 | of those arrangements, with one or more financing entities | ||||||
| 3 | concerning all or part of a project, regardless of the | ||||||
| 4 | identity of the income tax or fee owner of the megaproject. | ||||||
| 5 | Neither the original transfer to the financing entity nor the | ||||||
| 6 | later transfer from the financing entity back to the company, | ||||||
| 7 | under terms in the sale-leaseback agreement, shall affect the | ||||||
| 8 | assessment freeze or the validity of the megaproject | ||||||
| 9 | certificate issued under this Division, regardless of whether | ||||||
| 10 | the income tax basis is changed for income tax purposes. | ||||||
| 11 | (c) The Department must receive notice of all transfers | ||||||
| 12 | undertaken with respect to other projects to effect a | ||||||
| 13 | financing. Notice shall be made in writing within 60 days | ||||||
| 14 | after the transfer, shall identify each transferee, and shall | ||||||
| 15 | contain other information required by the Department with the | ||||||
| 16 | appropriate returns. Failure to meet this notice requirement | ||||||
| 17 | does not adversely affect the assessment freeze. | ||||||
| 18 | (35 ILCS 200/10-1055 new) | ||||||
| 19 | Sec. 10-1055. Minimum investment by company affiliates. To | ||||||
| 20 | be eligible for the benefits of this Division, a company must | ||||||
| 21 | invest the minimum investment. Investments by company | ||||||
| 22 | affiliates during the investment period for the project may be | ||||||
| 23 | applied toward the minimum investment under this Division | ||||||
| 24 | regardless of whether the company affiliate was part of the | ||||||
| 25 | project. To qualify for the assessment freeze, the minimum | ||||||
| |||||||
| |||||||
| 1 | investment must be made in connection with the megaproject. | ||||||
| 2 | (35 ILCS 200/10-1060 new) | ||||||
| 3 | Sec. 10-1060. Valuation for purposes of bonded | ||||||
| 4 | indebtedness and property tax extension limitations. Projects | ||||||
| 5 | to which an assessment freeze applies pursuant to this | ||||||
| 6 | Division shall be valued, for purposes of calculating the | ||||||
| 7 | general obligation bond limits, debt limitations, or property | ||||||
| 8 | tax extension limitations of any unit of local government or | ||||||
| 9 | taxing district, only at the equalized assessed value that is | ||||||
| 10 | subject to taxation. | ||||||
| 11 | (35 ILCS 200/10-1065 new) | ||||||
| 12 | Sec. 10-1065. Abatements. Any taxing district, upon a | ||||||
| 13 | majority vote of its governing authority, may, after the | ||||||
| 14 | determination of the assessed valuation as set forth in this | ||||||
| 15 | Division, order the clerk of the appropriate municipality or | ||||||
| 16 | county to abate any portion of real property taxes otherwise | ||||||
| 17 | levied or extended by the taxing district on a megaproject. | ||||||
| 18 | (35 ILCS 200/10-1067 new) | ||||||
| 19 | Sec. 10-1067. STAR bonds. Notwithstanding any other | ||||||
| 20 | provision of law, including, but not limited to, subsection | ||||||
| 21 | (d) of Section 5-30 of the Statewide Innovation Development | ||||||
| 22 | and Economy Act, after the approval of an incentive agreement | ||||||
| 23 | by the local review board, the company may also apply for the | ||||||
| |||||||
| |||||||
| 1 | establishment of a STAR bond district on the site of the | ||||||
| 2 | megaproject, provided that the STAR bond district is used | ||||||
| 3 | exclusively for infrastructure to support the megaproject. | ||||||
| 4 | Nothing in this Section shall allow for the establishment of a | ||||||
| 5 | NOVA district in the area. | ||||||
| 6 | (35 ILCS 200/10-1070 new) | ||||||
| 7 | Sec. 10-1070. Filing of returns, contracts, and other | ||||||
| 8 | information; due date of payments and returns. | ||||||
| 9 | (a) The company and the local municipality shall file | ||||||
| 10 | notices, reports, and other information as required by the | ||||||
| 11 | Department. | ||||||
| 12 | (b) Special payments are due at the same time as property | ||||||
| 13 | tax payments and property tax returns are due for the | ||||||
| 14 | megaproject property. | ||||||
| 15 | (c) Failure to make a timely special payment results in | ||||||
| 16 | the assessment of penalties as if the payment were a | ||||||
| 17 | delinquent property tax payment or return. | ||||||
| 18 | (d) Within 30 days after the date of execution of an | ||||||
| 19 | incentive agreement, a copy of the incentive agreement must be | ||||||
| 20 | filed with the chief county assessment officer and the county | ||||||
| 21 | auditor for the county in which the megaproject is located. | ||||||
| 22 | (35 ILCS 200/10-1080 new) | ||||||
| 23 | Sec. 10-1080. Rules. The Department may adopt rules as | ||||||
| 24 | necessary to carry out the purpose of this Division. | ||||||
| |||||||
| |||||||
| 1 | (35 ILCS 200/10-1085 new) | ||||||
| 2 | Sec. 10-1085. Prohibition on multiple credits, exemptions, | ||||||
| 3 | and freezes. An applicant for a megaproject certificate who | ||||||
| 4 | qualifies for an assessment freeze under this Division is not | ||||||
| 5 | entitled to any other property tax credits, exemptions, or | ||||||
| 6 | assessment freezes relating to the megaproject. | ||||||
| 7 | (35 ILCS 200/10-1087 new) | ||||||
| 8 | Sec. 10-1087. Building materials exemption for | ||||||
| 9 | megaprojects. An applicant that is eligible for a megaproject | ||||||
| 10 | certificate under this Division is also eligible for the | ||||||
| 11 | building materials exemption under Section 605-1119 of the | ||||||
| 12 | Department of Commerce and Economic Opportunity Law of the | ||||||
| 13 | Civil Administrative Code of Illinois. | ||||||
| 14 | (35 ILCS 200/10-1090 new) | ||||||
| 15 | Sec. 10-1090. Data centers; prohibited. | ||||||
| 16 | (a) As used in this Section, "data center" has the meaning | ||||||
| 17 | given in subsection (c) of Section 605-1025 of the Department | ||||||
| 18 | of Commerce and Economic Opportunity Law of the Civil | ||||||
| 19 | Administrative Code of Illinois. | ||||||
| 20 | (b) Notwithstanding any other provision of law, the | ||||||
| 21 | Department shall not approve any megaproject certificate | ||||||
| 22 | application that includes as part of the application the | ||||||
| 23 | development of any data center. | ||||||
| |||||||
| |||||||
| 1 | (35 ILCS 200/10-1093 new) | ||||||
| 2 | Sec. 10-1093. Compliance with State and local ethical | ||||||
| 3 | standards; required. | ||||||
| 4 | (a) As used in this Section, "governmental entity", | ||||||
| 5 | "officer", "member", and "State employee" have the meaning | ||||||
| 6 | given in the State Officials and Employees Ethics Act. | ||||||
| 7 | (b) Officers, members, and State employees and officers | ||||||
| 8 | and employees of governmental entities shall comply with the | ||||||
| 9 | State Officials and Employees Ethics Act. | ||||||
| 10 | (35 ILCS 200/10-1095 new) | ||||||
| 11 | Sec. 10-1095. Tax Increment Financing districts. Land, | ||||||
| 12 | including improvements thereon, designated as a megaproject | ||||||
| 13 | site under this Division that is located within a | ||||||
| 14 | redevelopment project area designated under Division 74.4 of | ||||||
| 15 | Article 11 of the Illinois Municipal Code is not eligible to | ||||||
| 16 | receive any of the benefits afforded property under Division | ||||||
| 17 | 74.4 of Article 11 of the Illinois Municipal Code. | ||||||
| 18 | (35 ILCS 200/10-1098 new) | ||||||
| 19 | Sec. 10-1098. Transparency; reporting. Within 3 years | ||||||
| 20 | after it issues a certificate for a megaproject site and every | ||||||
| 21 | 3 years thereafter, the Department shall prepare, in | ||||||
| 22 | conjunction with the Department of Revenue and in accordance | ||||||
| 23 | with Governmental Accounting Standards Board (GASB) Statement | ||||||
| |||||||
| |||||||
| 1 | No. 77, a report for the megaproject site that contains the | ||||||
| 2 | following information: | ||||||
| 3 | (1) the annual value of the total tax exemption | ||||||
| 4 | granted to the company as a consequence of the assessment | ||||||
| 5 | freeze provided under this Division; | ||||||
| 6 | (2) the amount of revenue gained and lost by the State | ||||||
| 7 | and taxing districts on account of the megaproject, | ||||||
| 8 | including revenue gained or lost on account of the | ||||||
| 9 | megaproject building materials exemption; | ||||||
| 10 | (3) the number of full-time jobs supported by the | ||||||
| 11 | megaproject site and the average salary for those jobs, | ||||||
| 12 | analyzed by the Department across various dimensions, such | ||||||
| 13 | as industry classification or other factors the Department | ||||||
| 14 | deems relevant; and | ||||||
| 15 | (4) other types of information deemed significant by | ||||||
| 16 | the Department, provided that the information aligns with | ||||||
| 17 | the objective of assessing the revenue gains for State and | ||||||
| 18 | local governments from the megaproject site in comparison | ||||||
| 19 | to the dollar amount of tax incentives provided to the | ||||||
| 20 | company. | ||||||
| 21 | (35 ILCS 200/10-1099 new) | ||||||
| 22 | Sec. 10-1099. Repeal. This Division 23 is repealed 5 years | ||||||
| 23 | after the effective date of this amendatory Act of the 104th | ||||||
| 24 | General Assembly. | ||||||
| |||||||
| |||||||
| 1 | (35 ILCS 200/20-15) | ||||||
| 2 | Sec. 20-15. Information on bill or separate statement. | ||||||
| 3 | There shall be printed on each bill, or on a separate slip | ||||||
| 4 | which shall be mailed with the bill: | ||||||
| 5 | (a) a statement itemizing the rate at which taxes have | ||||||
| 6 | been extended for each of the taxing districts in the | ||||||
| 7 | county in whose district the property is located, and in | ||||||
| 8 | those counties utilizing electronic data processing | ||||||
| 9 | equipment the dollar amount of tax due from the person | ||||||
| 10 | assessed allocable to each of those taxing districts, | ||||||
| 11 | including a separate statement of the dollar amount of tax | ||||||
| 12 | due which is allocable to a tax levied under the Illinois | ||||||
| 13 | Local Library Act or to any other tax levied by a | ||||||
| 14 | municipality or township for public library purposes, | ||||||
| 15 | (b) a separate statement for each of the taxing | ||||||
| 16 | districts of the dollar amount of tax due which is | ||||||
| 17 | allocable to a tax levied under the Illinois Pension Code | ||||||
| 18 | or to any other tax levied by a municipality or township | ||||||
| 19 | for public pension or retirement purposes, | ||||||
| 20 | (b-5) a list of each tax increment financing (TIF) | ||||||
| 21 | district in which the property is located, the dollar | ||||||
| 22 | amount of tax due that is allocable to the TIF district, | ||||||
| 23 | and each redevelopment project that (i) is associated with | ||||||
| 24 | the TIF district and (ii) has been completed during or | ||||||
| 25 | before the taxable year for which the bill is prepared or | ||||||
| 26 | is in the process of being completed during that taxable | ||||||
| |||||||
| |||||||
| 1 | year, | ||||||
| 2 | (c) the total tax rate, | ||||||
| 3 | (d) the total amount of tax due, and | ||||||
| 4 | (e) the amount by which the total tax and the tax | ||||||
| 5 | allocable to each taxing district differs from the | ||||||
| 6 | taxpayer's last prior tax bill. | ||||||
| 7 | The county treasurer shall ensure that only those taxing | ||||||
| 8 | districts in which a parcel of property is located shall be | ||||||
| 9 | listed on the bill for that property. | ||||||
| 10 | In all counties the statement shall also provide: | ||||||
| 11 | (1) the property index number or other suitable | ||||||
| 12 | description, | ||||||
| 13 | (2) the assessment of the property, | ||||||
| 14 | (3) the statutory amount of each homestead exemption | ||||||
| 15 | applied to the property, | ||||||
| 16 | (4) the assessed value of the property after | ||||||
| 17 | application of all homestead exemptions, | ||||||
| 18 | (5) the equalization factors imposed by the county and | ||||||
| 19 | by the Department, and | ||||||
| 20 | (6) the equalized assessment resulting from the | ||||||
| 21 | application of the equalization factors to the basic | ||||||
| 22 | assessment, and . | ||||||
| 23 | (7) the cumulative value of megaproject property tax | ||||||
| 24 | benefits awarded during the taxable year in the local | ||||||
| 25 | municipality in which the property is located. | ||||||
| 26 | In all counties which do not classify property for | ||||||
| |||||||
| |||||||
| 1 | purposes of taxation, for property on which a single family | ||||||
| 2 | residence is situated the statement shall also include a | ||||||
| 3 | statement to reflect the fair cash value determined for the | ||||||
| 4 | property. In all counties which classify property for purposes | ||||||
| 5 | of taxation in accordance with Section 4 of Article IX of the | ||||||
| 6 | Illinois Constitution, for parcels of residential property in | ||||||
| 7 | the lowest assessment classification the statement shall also | ||||||
| 8 | include a statement to reflect the fair cash value determined | ||||||
| 9 | for the property. | ||||||
| 10 | In all counties, the statement must include information | ||||||
| 11 | that certain taxpayers may be eligible for tax exemptions, | ||||||
| 12 | abatements, and other assistance programs and that, for more | ||||||
| 13 | information, taxpayers should consult with the office of their | ||||||
| 14 | township or county assessor and with the Department of | ||||||
| 15 | Revenue. For bills mailed on or after January 1, 2026, the | ||||||
| 16 | statement must include, in bold face type, a list of | ||||||
| 17 | exemptions available to taxpayers and contact information for | ||||||
| 18 | the chief county assessment officer. | ||||||
| 19 | In counties which use the estimated or accelerated billing | ||||||
| 20 | methods, these statements shall only be provided with the | ||||||
| 21 | final installment of taxes due. The provisions of this Section | ||||||
| 22 | create a mandatory statutory duty. They are not merely | ||||||
| 23 | directory or discretionary. The failure or neglect of the | ||||||
| 24 | collector to mail the bill, or the failure of the taxpayer to | ||||||
| 25 | receive the bill, shall not affect the validity of any tax, or | ||||||
| 26 | the liability for the payment of any tax. | ||||||
| |||||||
| |||||||
| 1 | (Source: P.A. 103-592, eff. 1-1-25; 104-6, eff. 6-16-25.) | ||||||
| 2 | Section 40. The Election Code is amended by changing | ||||||
| 3 | Section 28-1 as follows: | ||||||
| 4 | (10 ILCS 5/28-1) (from Ch. 46, par. 28-1) | ||||||
| 5 | Sec. 28-1. The initiation and submission of all public | ||||||
| 6 | questions to be voted upon by the electors of the State or of | ||||||
| 7 | any political subdivision or district or precinct or | ||||||
| 8 | combination of precincts shall be subject to the provisions of | ||||||
| 9 | this Article. | ||||||
| 10 | Questions of public policy which have any legal effect | ||||||
| 11 | shall be submitted to referendum only as authorized by a | ||||||
| 12 | statute which so provides or by the Constitution. Advisory | ||||||
| 13 | questions of public policy shall be submitted to referendum | ||||||
| 14 | pursuant to Section 28-5 or pursuant to a statute which so | ||||||
| 15 | provides. | ||||||
| 16 | The method of initiating the submission of a public | ||||||
| 17 | question shall be as provided by the statute authorizing such | ||||||
| 18 | public question, or as provided by the Constitution. | ||||||
| 19 | All public questions shall be initiated, submitted and | ||||||
| 20 | printed on the ballot in the form required by Section 16-7 of | ||||||
| 21 | this Act, except as may otherwise be specified in the statute | ||||||
| 22 | authorizing a public question. | ||||||
| 23 | Whenever a statute provides for the initiation of a public | ||||||
| 24 | question by a petition of electors, the provisions of such | ||||||
| |||||||
| |||||||
| 1 | statute shall govern with respect to the number of signatures | ||||||
| 2 | required, the qualifications of persons entitled to sign the | ||||||
| 3 | petition, the contents of the petition, the officer with whom | ||||||
| 4 | the petition must be filed, and the form of the question to be | ||||||
| 5 | submitted. If such statute does not specify any of the | ||||||
| 6 | foregoing petition requirements, the corresponding petition | ||||||
| 7 | requirements of Section 28-6 shall govern such petition. | ||||||
| 8 | Irrespective of the method of initiation, not more than 3 | ||||||
| 9 | public questions other than (a) back door referenda, (b) | ||||||
| 10 | referenda to determine whether a disconnection may take place | ||||||
| 11 | where a city coterminous with a township is proposing to annex | ||||||
| 12 | territory from an adjacent township, (c) referenda held under | ||||||
| 13 | the provisions of the Property Tax Extension Limitation Law in | ||||||
| 14 | the Property Tax Code, (d) referenda held under Section 2-3002 | ||||||
| 15 | of the Counties Code, or (e) referenda held under Article 22, | ||||||
| 16 | 23, or 29 of the Township Code may be submitted to referendum | ||||||
| 17 | with respect to a political subdivision at the same election. | ||||||
| 18 | If more than 3 propositions are timely initiated or | ||||||
| 19 | certified for submission at an election with respect to a | ||||||
| 20 | political subdivision, the first 3 validly initiated, by the | ||||||
| 21 | filing of a petition or by the adoption of a resolution or | ||||||
| 22 | ordinance of a political subdivision, as the case may be, | ||||||
| 23 | shall be printed on the ballot and submitted at that election. | ||||||
| 24 | However, except as expressly authorized by law not more than | ||||||
| 25 | one proposition to change the form of government of a | ||||||
| 26 | municipality pursuant to Article VII of the Constitution may | ||||||
| |||||||
| |||||||
| 1 | be submitted at an election. If more than one such proposition | ||||||
| 2 | is timely initiated or certified for submission at an election | ||||||
| 3 | with respect to a municipality, the first validly initiated | ||||||
| 4 | shall be the one printed on the ballot and submitted at that | ||||||
| 5 | election. | ||||||
| 6 | No public question shall be submitted to the voters of a | ||||||
| 7 | political subdivision at any regularly scheduled election at | ||||||
| 8 | which such voters are not scheduled to cast votes for any | ||||||
| 9 | candidates for nomination for, election to or retention in | ||||||
| 10 | public office, except that if, in any existing or proposed | ||||||
| 11 | political subdivision in which the submission of a public | ||||||
| 12 | question at a regularly scheduled election is desired, the | ||||||
| 13 | voters of only a portion of such existing or proposed | ||||||
| 14 | political subdivision are not scheduled to cast votes for | ||||||
| 15 | nomination for, election to or retention in public office at | ||||||
| 16 | such election, but the voters in one or more other portions of | ||||||
| 17 | such existing or proposed political subdivision are scheduled | ||||||
| 18 | to cast votes for nomination for, election to or retention in | ||||||
| 19 | public office at such election, the public question shall be | ||||||
| 20 | voted upon by all the qualified voters of the entire existing | ||||||
| 21 | or proposed political subdivision at the election. | ||||||
| 22 | Not more than 3 advisory public questions may be submitted | ||||||
| 23 | to the voters of the entire state at a general election. If | ||||||
| 24 | more than 3 such advisory propositions are initiated, the | ||||||
| 25 | first 3 timely and validly initiated shall be the questions | ||||||
| 26 | printed on the ballot and submitted at that election; provided | ||||||
| |||||||
| |||||||
| 1 | however, that a question for a proposed amendment to Article | ||||||
| 2 | IV of the Constitution pursuant to Section 3, Article XIV of | ||||||
| 3 | the Constitution, or for a question submitted under the | ||||||
| 4 | Property Tax Cap Referendum Law, shall not be included in the | ||||||
| 5 | foregoing limitation. | ||||||
| 6 | Notwithstanding any other provision of law, a community | ||||||
| 7 | mental health public question may not be placed on the 2024 | ||||||
| 8 | primary or general election ballot or on the 2025 consolidated | ||||||
| 9 | election ballots in the same township where a community mental | ||||||
| 10 | health public question was approved on the 2022 general | ||||||
| 11 | election ballot. | ||||||
| 12 | Notwithstanding any other provision of law, a question | ||||||
| 13 | initiated by a political subdivision of government requesting | ||||||
| 14 | the issuance of bonds shall be held only during a general | ||||||
| 15 | election. | ||||||
| 16 | (Source: P.A. 103-565, eff. 11-17-23; 103-1070, eff. 3-21-25.) | ||||||
| 17 | Section 45. The Counties Code is amended by changing | ||||||
| 18 | Section 6-4008 as follows: | ||||||
| 19 | (55 ILCS 5/6-4008) (from Ch. 34, par. 6-4008) | ||||||
| 20 | Sec. 6-4008. Petition for referendum. If a petition is | ||||||
| 21 | filed with the county clerk not later than 28 days after the | ||||||
| 22 | first publication or the posting of the resolution, signed by | ||||||
| 23 | not less than 5% of the number of legal voters who voted at the | ||||||
| 24 | last general election in such county, requesting that the | ||||||
| |||||||
| |||||||
| 1 | question of establishing an annual tax levy for the purpose of | ||||||
| 2 | obtaining funds to construct, reconstruct or remodel a | ||||||
| 3 | courthouse be submitted to the electors of the county, the | ||||||
| 4 | county clerk shall certify the question to the proper election | ||||||
| 5 | officials for submission at the next general regular scheduled | ||||||
| 6 | election in accordance with the general election law. | ||||||
| 7 | The question shall be substantially in the following form: | ||||||
| 8 | -
| ||||||
| 9 | Shall .............. county issue bonds bond YES
| ||||||
| 10 | in the amount of $........ to construct -------------------
| ||||||
| 11 | (or reconstruct or remodel a courthouse)? NO
| ||||||
| 12 | ------------------------------------------------------------- | ||||||
| 13 | The election shall be conducted in accordance with the | ||||||
| 14 | general election law, at the nonpartisan election in 1981. | ||||||
| 15 | If a majority of the voters voting upon the aforesaid | ||||||
| 16 | question vote in favor of it, the bonds may be issued by such | ||||||
| 17 | county, but if a majority of the voters voting upon the | ||||||
| 18 | question vote against the question the county may not issue | ||||||
| 19 | bonds for the purpose of constructing, reconstructing, or | ||||||
| 20 | remodeling a courthouse under the provisions of this Division. | ||||||
| 21 | (Source: P.A. 86-962.) | ||||||
| 22 | Section 50. The Township Code is amended by changing | ||||||
| 23 | Section 210-5 as follows: | ||||||
| 24 | (60 ILCS 1/210-5) | ||||||
| |||||||
| |||||||
| 1 | Sec. 210-5. Application of Article; referendum. | ||||||
| 2 | (a) This Article applies only in those townships in which | ||||||
| 3 | the electors of the unincorporated area of the township, at | ||||||
| 4 | any regularly scheduled election held within the township, by | ||||||
| 5 | majority vote, authorize the township board to exercise the | ||||||
| 6 | powers conferred by this Article. | ||||||
| 7 | (b) Whenever the township board, by a resolution passed by | ||||||
| 8 | a majority of its members, requests that the question whether | ||||||
| 9 | it shall be allowed to exercise the powers conferred by this | ||||||
| 10 | Article be submitted to the electors of the unincorporated | ||||||
| 11 | area of the township, and upon the delivery of a certified copy | ||||||
| 12 | of the resolution to the proper election official, the | ||||||
| 13 | election official shall submit the question to the electors at | ||||||
| 14 | any regular scheduled election held within the township or, | ||||||
| 15 | for the issuance of bonds, at any general election held within | ||||||
| 16 | the township. | ||||||
| 17 | (c) The question submitted to the electors shall be | ||||||
| 18 | printed in plain, prominent type upon a ballot in the form | ||||||
| 19 | required by the general election law. If a majority of the | ||||||
| 20 | electors voting on the question are in favor of conferring | ||||||
| 21 | powers under this Article, the proper election official shall | ||||||
| 22 | certify the results of the referendum to the township clerk | ||||||
| 23 | within 10 days after the election. The certificate shall | ||||||
| 24 | include (i) the date of the referendum and a summary of the | ||||||
| 25 | proposition submitted, (ii) the number of electors for or | ||||||
| 26 | against the proposition, and (iii) a description of the area | ||||||
| |||||||
| |||||||
| 1 | of the township within which the township board may exercise | ||||||
| 2 | the powers conferred by this Article. | ||||||
| 3 | (d) This Article does not apply in any township in which a | ||||||
| 4 | county ordinance or resolution is in effect regulating the | ||||||
| 5 | collection and disposal of refuse, garbage, and ashes. | ||||||
| 6 | (Source: P.A. 82-783; 88-62.) | ||||||
| 7 | Section 55. The Illinois Local Library Act is amended by | ||||||
| 8 | changing Section 5-2.5 as follows: | ||||||
| 9 | (75 ILCS 5/5-2.5) | ||||||
| 10 | Sec. 5-2.5. Bonds as indebtedness. Notwithstanding any | ||||||
| 11 | provision of law to the contrary: | ||||||
| 12 | (a) Any bonds issued under Section 5-2 of this Act shall | ||||||
| 13 | not be considered indebtedness under any law including, but | ||||||
| 14 | not limited to, Section 8-5-1 of the Illinois Municipal Code, | ||||||
| 15 | and such bonds may be issued, regardless of any limitations on | ||||||
| 16 | indebtedness in law, if the conditions of subsection (b) are | ||||||
| 17 | met. | ||||||
| 18 | (b) Bonds shall not be considered indebtedness and may be | ||||||
| 19 | issued regardless of any limitations on indebtedness under | ||||||
| 20 | subsection (a) if: | ||||||
| 21 | (1) the bond or bonds are issued after approval by | ||||||
| 22 | voters at a general regularly scheduled election; | ||||||
| 23 | (2) the bond or bonds do not exceed a principal amount | ||||||
| 24 | of $11,000,000 in the aggregate; | ||||||
| |||||||
| |||||||
| 1 | (3) on or before the date of sale of the bond or bonds, | ||||||
| 2 | the board of trustees of the public library and the | ||||||
| 3 | corporate authorities determine, by ordinance or | ||||||
| 4 | resolution, that the library project funded by the bond or | ||||||
| 5 | bonds is needed; and | ||||||
| 6 | (4) the bond or bonds are issued prior to November 1, | ||||||
| 7 | 2020. | ||||||
| 8 | (Source: P.A. 99-735, eff. 8-5-16.) | ||||||
| 9 | Section 60. The School Code is amended by changing | ||||||
| 10 | Sections 5-32, 12-13, 12-15, 19-1, 19-3, 19-9, 20-7, 32-5.6, | ||||||
| 11 | 34-22.1, 34-22.2, 34-22.3, 34-22.4, and 34-22.5 as follows: | ||||||
| 12 | (105 ILCS 5/5-32) (from Ch. 122, par. 5-32) | ||||||
| 13 | Sec. 5-32. Failure to maintain schools - Transportation | ||||||
| 14 | and tuition. If any school district other than a non-high | ||||||
| 15 | school district shall for 1 year fail to maintain within the | ||||||
| 16 | boundaries of the school district a recognized public school | ||||||
| 17 | as required by law, such district shall become automatically | ||||||
| 18 | dissolved and the property and territory of such district | ||||||
| 19 | shall be disposed of in the manner provided for the disposal of | ||||||
| 20 | territory and property in Section 7-11 of this Act. However, a | ||||||
| 21 | school district shall not be dissolved where the State Board | ||||||
| 22 | of Education and the regional superintendent of the region in | ||||||
| 23 | which a district has legally authorized the building of a | ||||||
| 24 | school and legally selected a school house site and has issued | ||||||
| |||||||
| |||||||
| 1 | bonds for such building shall jointly find and certify that | ||||||
| 2 | such building has been authorized, site selected and bonds | ||||||
| 3 | issued. | ||||||
| 4 | If a district has its territory included within a petition | ||||||
| 5 | to form a community unit district under Article 11E of this | ||||||
| 6 | Code, that district may not be dissolved under this Section | ||||||
| 7 | until the end of the school year in which all proceedings | ||||||
| 8 | relating to formation of that community unit district are | ||||||
| 9 | finally concluded, whether by disallowance of the petition, by | ||||||
| 10 | referendum, by a final court decision or otherwise. Until such | ||||||
| 11 | proceedings are finally concluded, the regional superintendent | ||||||
| 12 | having jurisdiction of the district that is not maintaining a | ||||||
| 13 | recognized school shall assign the pupils of that district to | ||||||
| 14 | an adjoining school district, subject to the requirement that | ||||||
| 15 | the district from which the pupils are so assigned shall pay | ||||||
| 16 | tuition for such pupils to the district to which the pupils are | ||||||
| 17 | assigned, in accordance with Section 10-20.12a of this Act or | ||||||
| 18 | in such lesser amount as may be agreed to by the 2 districts. | ||||||
| 19 | However, until July 1, 1969 or one year after the entry of | ||||||
| 20 | a final decision by a court of competent jurisdiction in the | ||||||
| 21 | event of litigation with respect to any of the matters set | ||||||
| 22 | forth in this Section, whichever is the later, notwithstanding | ||||||
| 23 | the provisions of this Section, any protectorate high school | ||||||
| 24 | district composed of contiguous and compact territory having | ||||||
| 25 | not less than 2,000 inhabitants and which has an equalized | ||||||
| 26 | assessed valuation of not less than $6,000,000, shall be and | ||||||
| |||||||
| |||||||
| 1 | remain a protectorate high school district if a majority of | ||||||
| 2 | the pupils attend a high school in a special charter district | ||||||
| 3 | maintaining grades 1 through 12 and if during that period the | ||||||
| 4 | voters of the district, by referendum to be ordered by the | ||||||
| 5 | board, vote in favor of the proposition that such district | ||||||
| 6 | maintain and operate a high school within such district, and | ||||||
| 7 | also authorize the purchase of a school site, the building of a | ||||||
| 8 | school building and the issuance of bonds for such purpose, | ||||||
| 9 | which bonds are duly issued. The Board shall certify the | ||||||
| 10 | proposition to the proper election authorities for submission, | ||||||
| 11 | in accordance with the general election law. | ||||||
| 12 | The proposition to maintain and operate a high school | ||||||
| 13 | within such district shall be in substantially the following | ||||||
| 14 | form: | ||||||
| 15 | --------------------------------------------------------
| ||||||
| 16 | Shall ......................
| ||||||
| 17 | High School District Number ......, YES
| ||||||
| 18 | ........... County, Illinois,
| ||||||
| 19 | maintain and operate a high school ------------------------
| ||||||
| 20 | within that High School
| ||||||
| 21 | District and for the benefit NO
| ||||||
| 22 | of the pupils residing therein?
| ||||||
| 23 | ------------------------------------------------------------- | ||||||
| 24 | and is approved if a majority of the voters voting on the | ||||||
| 25 | proposition is in favor thereof. The proposition of purchasing | ||||||
| 26 | a school site, the building of a school building and the | ||||||
| |||||||
| |||||||
| 1 | issuance of bonds for such purpose shall be submitted to the | ||||||
| 2 | voters and may be voted upon at the same election that the | ||||||
| 3 | proposition of maintaining and operating a high school within | ||||||
| 4 | the district is submitted or at any general regularly | ||||||
| 5 | scheduled election subsequent thereto as may be ordered by the | ||||||
| 6 | board. Thereupon, that protectorate high school district shall | ||||||
| 7 | thereafter exist as a community high school district and | ||||||
| 8 | possess and enjoy all of the powers, duties and authorities of | ||||||
| 9 | a community high school district under Article 12 of this Act. | ||||||
| 10 | Throughout its existence as a protectorate district and | ||||||
| 11 | until the legal voters residing in the district have | ||||||
| 12 | determined to maintain and operate a high school within the | ||||||
| 13 | district and have been authorized to purchase a school site, | ||||||
| 14 | build a school building and to issue bonds for such purpose and | ||||||
| 15 | which bonds are duly issued, or until the dissolution of the | ||||||
| 16 | district as required by this Section, such protectorate | ||||||
| 17 | district may use its funds to pay for the tuition and | ||||||
| 18 | transportation of the pupils in such district that attend a | ||||||
| 19 | high school in a special charter district maintaining grades 1 | ||||||
| 20 | through 12. A protectorate high school district is defined to | ||||||
| 21 | be a district which does not own or operate its own school | ||||||
| 22 | buildings. | ||||||
| 23 | (Source: P.A. 94-1019, eff. 7-10-06.) | ||||||
| 24 | (105 ILCS 5/12-13) (from Ch. 122, par. 12-13) | ||||||
| 25 | Sec. 12-13. Bond issue - Resolution - Election. If there | ||||||
| |||||||
| |||||||
| 1 | has been a delay in the extension and collection of taxes | ||||||
| 2 | levied by the governing body of any nonhigh school district | ||||||
| 3 | caused by a reassessment of real property therein, the | ||||||
| 4 | district may issue bonds for the purpose of paying unpaid | ||||||
| 5 | tuition claims or other claims against it. | ||||||
| 6 | Before any nonhigh school district issues any such bonds | ||||||
| 7 | the board of education shall examine and consider the claims | ||||||
| 8 | proposed to be paid, and if it appears that they were | ||||||
| 9 | authorized and allowed for proper nonhigh school purposes, it | ||||||
| 10 | shall adopt a resolution so declaring and set forth and | ||||||
| 11 | describe in detail such claims. The adoption of the resolution | ||||||
| 12 | shall establish the validity thereof. The resolution shall | ||||||
| 13 | also declare the intention of the nonhigh school district to | ||||||
| 14 | issue bonds for the purpose of paying such claims and direct | ||||||
| 15 | that notice of such intention be published at least once in a | ||||||
| 16 | newspaper published and having a general circulation in the | ||||||
| 17 | district, if there be one, but if there is no newspaper | ||||||
| 18 | published in such district then by publishing such notice in a | ||||||
| 19 | newspaper having a general circulation in the district or if | ||||||
| 20 | no newspaper is published in the district in one or more | ||||||
| 21 | newspapers with a general circulation in the district. The | ||||||
| 22 | notice shall include a statement of (1) the specific number of | ||||||
| 23 | voters required to sign a petition requesting that the | ||||||
| 24 | question of the adoption of the resolution be submitted to the | ||||||
| 25 | electors of the district; (2) the time in which the petition | ||||||
| 26 | must be filed; and (3) the date of the prospective referendum. | ||||||
| |||||||
| |||||||
| 1 | The recording officer of the district shall provide a petition | ||||||
| 2 | form to any individual requesting one. If within 30 days after | ||||||
| 3 | the publication a petition is filed with the recording officer | ||||||
| 4 | of the district, signed by voters of the district equal to 10% | ||||||
| 5 | or more of the registered voters of the district, requesting | ||||||
| 6 | that the proposition to issue the bonds be submitted to the | ||||||
| 7 | voters thereof, then such district shall not be authorized to | ||||||
| 8 | issue them until either the petition has been determined to be | ||||||
| 9 | invalid or insufficient or the proposition has been submitted | ||||||
| 10 | to and approved by a majority of the voters voting on the | ||||||
| 11 | proposition at a general regular scheduled election. The board | ||||||
| 12 | shall certify the proposition to the proper election | ||||||
| 13 | authorities for submission in accordance with the general | ||||||
| 14 | election law. If no such petition is filed, or if any and all | ||||||
| 15 | petitions filed are invalid, such district may issue the | ||||||
| 16 | bonds. In addition to the requirements of the general election | ||||||
| 17 | law the notice of the election shall set forth the intention of | ||||||
| 18 | the district to issue bonds under the provisions of this | ||||||
| 19 | Section. The ballot to be used at the election shall be in | ||||||
| 20 | substantially the following form: | ||||||
| 21 | OFFICIAL BALLOT | ||||||
| 22 | ----------------------------------------------
| ||||||
| 23 | Shall the Board of Education
| ||||||
| 24 | of Nonhigh School District No. YES
| ||||||
| 25 | ...., .... County, Illinois, be ------------------
| ||||||
| 26 | authorized to issue bonds as authorized NO
| ||||||
| |||||||
| |||||||
| 1 | by Sec. 12-13 of the School Code?
| ||||||
| 2 | ------------------------------------------------------------- | ||||||
| 3 | (Source: P.A. 87-767.) | ||||||
| 4 | (105 ILCS 5/12-15) (from Ch. 122, par. 12-15) | ||||||
| 5 | Sec. 12-15. Bonds to pay tuition or judgments - Resolution - | ||||||
| 6 | Election. Any nonhigh school district may issue bonds for | ||||||
| 7 | the purpose of paying unpaid tuition claims or judgments which | ||||||
| 8 | have been obtained by any school district against the nonhigh | ||||||
| 9 | school district on unpaid tuition claims, or for the purpose | ||||||
| 10 | of paying other claims against the nonhigh school district. | ||||||
| 11 | Before any such district issues any such bonds the board | ||||||
| 12 | of education thereof shall examine and consider the claims for | ||||||
| 13 | unpaid tuition and other claims proposed to be paid including | ||||||
| 14 | any judgments obtained against the district on unpaid tuition | ||||||
| 15 | claims and if it appears that such claims and judgments were | ||||||
| 16 | authorized and allowed for proper nonhigh school purposes, it | ||||||
| 17 | shall adopt a resolution so declaring and set forth and | ||||||
| 18 | describe in detail such claims and judgments and the adoption | ||||||
| 19 | of the resolution shall establish the validity thereof. The | ||||||
| 20 | intention of the district to issue bonds for the purpose of | ||||||
| 21 | paying such claims and judgments shall be declared in the | ||||||
| 22 | resolution and it shall be directed therein that notice of | ||||||
| 23 | such intention be published in accordance with the general | ||||||
| 24 | election law. The proposition to issue bonds shall be | ||||||
| 25 | certified to the proper election authorities for submission to | ||||||
| |||||||
| |||||||
| 1 | the voters of the district at a general regular scheduled | ||||||
| 2 | election, in accordance with the general election law and if | ||||||
| 3 | approved by a majority of such voters voting thereon the | ||||||
| 4 | district may issue the bonds. In addition to the requirements | ||||||
| 5 | in the general election law notice of the election shall set | ||||||
| 6 | forth the intention of the district to issue bonds under the | ||||||
| 7 | provisions of this Section. The proposition shall be in | ||||||
| 8 | substantially the following form: | ||||||
| 9 | OFFICIAL BALLOT | ||||||
| 10 | ----------------------------------------------
| ||||||
| 11 | Shall the Board of Education of
| ||||||
| 12 | Nonhigh School District No....., YES
| ||||||
| 13 | .... County, Illinois, be authorized --------------------
| ||||||
| 14 | to issue bonds as authorized by NO
| ||||||
| 15 | Section 12-15 of the School Code?
| ||||||
| 16 | ------------------------------------------------------------- | ||||||
| 17 | (Source: P.A. 81-1489.) | ||||||
| 18 | (105 ILCS 5/19-1) | ||||||
| 19 | Sec. 19-1. Debt limitations of school districts. | ||||||
| 20 | (a) School districts shall not be subject to the | ||||||
| 21 | provisions limiting their indebtedness prescribed in the Local | ||||||
| 22 | Government Debt Limitation Act. | ||||||
| 23 | No school districts maintaining grades K through 8 or 9 | ||||||
| 24 | through 12 shall become indebted in any manner or for any | ||||||
| 25 | purpose to an amount, including existing indebtedness, in the | ||||||
| |||||||
| |||||||
| 1 | aggregate exceeding 6.9% on the value of the taxable property | ||||||
| 2 | therein to be ascertained by the last assessment for State and | ||||||
| 3 | county taxes or, until January 1, 1983, if greater, the sum | ||||||
| 4 | that is produced by multiplying the school district's 1978 | ||||||
| 5 | equalized assessed valuation by the debt limitation percentage | ||||||
| 6 | in effect on January 1, 1979, previous to the incurring of such | ||||||
| 7 | indebtedness. | ||||||
| 8 | No school districts maintaining grades K through 12 shall | ||||||
| 9 | become indebted in any manner or for any purpose to an amount, | ||||||
| 10 | including existing indebtedness, in the aggregate exceeding | ||||||
| 11 | 13.8% on the value of the taxable property therein to be | ||||||
| 12 | ascertained by the last assessment for State and county taxes | ||||||
| 13 | or, until January 1, 1983, if greater, the sum that is produced | ||||||
| 14 | by multiplying the school district's 1978 equalized assessed | ||||||
| 15 | valuation by the debt limitation percentage in effect on | ||||||
| 16 | January 1, 1979, previous to the incurring of such | ||||||
| 17 | indebtedness. | ||||||
| 18 | No partial elementary unit district, as defined in Article | ||||||
| 19 | 11E of this Code, shall become indebted in any manner or for | ||||||
| 20 | any purpose in an amount, including existing indebtedness, in | ||||||
| 21 | the aggregate exceeding 6.9% of the value of the taxable | ||||||
| 22 | property of the entire district, to be ascertained by the last | ||||||
| 23 | assessment for State and county taxes, plus an amount, | ||||||
| 24 | including existing indebtedness, in the aggregate exceeding | ||||||
| 25 | 6.9% of the value of the taxable property of that portion of | ||||||
| 26 | the district included in the elementary and high school | ||||||
| |||||||
| |||||||
| 1 | classification, to be ascertained by the last assessment for | ||||||
| 2 | State and county taxes. Moreover, no partial elementary unit | ||||||
| 3 | district, as defined in Article 11E of this Code, shall become | ||||||
| 4 | indebted on account of bonds issued by the district for high | ||||||
| 5 | school purposes in the aggregate exceeding 6.9% of the value | ||||||
| 6 | of the taxable property of the entire district, to be | ||||||
| 7 | ascertained by the last assessment for State and county taxes, | ||||||
| 8 | nor shall the district become indebted on account of bonds | ||||||
| 9 | issued by the district for elementary purposes in the | ||||||
| 10 | aggregate exceeding 6.9% of the value of the taxable property | ||||||
| 11 | for that portion of the district included in the elementary | ||||||
| 12 | and high school classification, to be ascertained by the last | ||||||
| 13 | assessment for State and county taxes. | ||||||
| 14 | Notwithstanding the provisions of any other law to the | ||||||
| 15 | contrary, in any case in which the voters of a school district | ||||||
| 16 | have approved a proposition for the issuance of bonds of such | ||||||
| 17 | school district at an election held prior to January 1, 1979, | ||||||
| 18 | and all of the bonds approved at such election have not been | ||||||
| 19 | issued, the debt limitation applicable to such school district | ||||||
| 20 | during the calendar year 1979 shall be computed by multiplying | ||||||
| 21 | the value of taxable property therein, including personal | ||||||
| 22 | property, as ascertained by the last assessment for State and | ||||||
| 23 | county taxes, previous to the incurring of such indebtedness, | ||||||
| 24 | by the percentage limitation applicable to such school | ||||||
| 25 | district under the provisions of this subsection (a). | ||||||
| 26 | (a-5) After January 1, 2018, no school district may issue | ||||||
| |||||||
| |||||||
| 1 | bonds under Sections 19-2 through 19-7 of this Code and rely on | ||||||
| 2 | an exception to the debt limitations in this Section unless it | ||||||
| 3 | has complied with the requirements of Section 21 of the Bond | ||||||
| 4 | Issue Notification Act and the bonds have been approved by | ||||||
| 5 | referendum. | ||||||
| 6 | (b) Notwithstanding the debt limitation prescribed in | ||||||
| 7 | subsection (a) of this Section, additional indebtedness may be | ||||||
| 8 | incurred in an amount not to exceed the estimated cost of | ||||||
| 9 | acquiring or improving school sites or constructing and | ||||||
| 10 | equipping additional building facilities under the following | ||||||
| 11 | conditions: | ||||||
| 12 | (1) Whenever the enrollment of students for the next | ||||||
| 13 | school year is estimated by the board of education to | ||||||
| 14 | increase over the actual present enrollment by not less | ||||||
| 15 | than 35% or by not less than 200 students or the actual | ||||||
| 16 | present enrollment of students has increased over the | ||||||
| 17 | previous school year by not less than 35% or by not less | ||||||
| 18 | than 200 students and the board of education determines | ||||||
| 19 | that additional school sites or building facilities are | ||||||
| 20 | required as a result of such increase in enrollment; and | ||||||
| 21 | (2) When the Regional Superintendent of Schools having | ||||||
| 22 | jurisdiction over the school district and the State | ||||||
| 23 | Superintendent of Education concur in such enrollment | ||||||
| 24 | projection or increase and approve the need for such | ||||||
| 25 | additional school sites or building facilities and the | ||||||
| 26 | estimated cost thereof; and | ||||||
| |||||||
| |||||||
| 1 | (3) When the voters in the school district approve a | ||||||
| 2 | proposition for the issuance of bonds for the purpose of | ||||||
| 3 | acquiring or improving such needed school sites or | ||||||
| 4 | constructing and equipping such needed additional building | ||||||
| 5 | facilities at an election called and held for that | ||||||
| 6 | purpose. Notice of such an election shall state that the | ||||||
| 7 | amount of indebtedness proposed to be incurred would | ||||||
| 8 | exceed the debt limitation otherwise applicable to the | ||||||
| 9 | school district. The ballot for such proposition shall | ||||||
| 10 | state what percentage of the equalized assessed valuation | ||||||
| 11 | will be outstanding in bonds if the proposed issuance of | ||||||
| 12 | bonds is approved by the voters; or | ||||||
| 13 | (4) Notwithstanding the provisions of paragraphs (1) | ||||||
| 14 | through (3) of this subsection (b), if the school board | ||||||
| 15 | determines that additional facilities are needed to | ||||||
| 16 | provide a quality educational program and not less than | ||||||
| 17 | 2/3 of those voting in an election called by the school | ||||||
| 18 | board on the question approve the issuance of bonds for | ||||||
| 19 | the construction of such facilities, the school district | ||||||
| 20 | may issue bonds for this purpose; or | ||||||
| 21 | (5) Notwithstanding the provisions of paragraphs (1) | ||||||
| 22 | through (3) of this subsection (b), if (i) the school | ||||||
| 23 | district has previously availed itself of the provisions | ||||||
| 24 | of paragraph (4) of this subsection (b) to enable it to | ||||||
| 25 | issue bonds, (ii) the voters of the school district have | ||||||
| 26 | not defeated a proposition for the issuance of bonds since | ||||||
| |||||||
| |||||||
| 1 | the referendum described in paragraph (4) of this | ||||||
| 2 | subsection (b) was held, (iii) the school board determines | ||||||
| 3 | that additional facilities are needed to provide a quality | ||||||
| 4 | educational program, and (iv) a majority of those voting | ||||||
| 5 | in an election called by the school board on the question | ||||||
| 6 | approve the issuance of bonds for the construction of such | ||||||
| 7 | facilities, the school district may issue bonds for this | ||||||
| 8 | purpose. | ||||||
| 9 | In no event shall the indebtedness incurred pursuant to | ||||||
| 10 | this subsection (b) and the existing indebtedness of the | ||||||
| 11 | school district exceed 15% of the value of the taxable | ||||||
| 12 | property therein to be ascertained by the last assessment for | ||||||
| 13 | State and county taxes, previous to the incurring of such | ||||||
| 14 | indebtedness or, until January 1, 1983, if greater, the sum | ||||||
| 15 | that is produced by multiplying the school district's 1978 | ||||||
| 16 | equalized assessed valuation by the debt limitation percentage | ||||||
| 17 | in effect on January 1, 1979. | ||||||
| 18 | The indebtedness provided for by this subsection (b) shall | ||||||
| 19 | be in addition to and in excess of any other debt limitation. | ||||||
| 20 | (c) Notwithstanding the debt limitation prescribed in | ||||||
| 21 | subsection (a) of this Section, in any case in which a public | ||||||
| 22 | question for the issuance of bonds of a proposed school | ||||||
| 23 | district maintaining grades kindergarten through 12 received | ||||||
| 24 | at least 60% of the valid ballots cast on the question at an | ||||||
| 25 | election held on or prior to November 8, 1994, and in which the | ||||||
| 26 | bonds approved at such election have not been issued, the | ||||||
| |||||||
| |||||||
| 1 | school district pursuant to the requirements of Section 11A-10 | ||||||
| 2 | (now repealed) may issue the total amount of bonds approved at | ||||||
| 3 | such election for the purpose stated in the question. | ||||||
| 4 | (d) Notwithstanding the debt limitation prescribed in | ||||||
| 5 | subsection (a) of this Section, a school district that meets | ||||||
| 6 | all the criteria set forth in paragraphs (1) and (2) of this | ||||||
| 7 | subsection (d) may incur an additional indebtedness in an | ||||||
| 8 | amount not to exceed $4,500,000, even though the amount of the | ||||||
| 9 | additional indebtedness authorized by this subsection (d), | ||||||
| 10 | when incurred and added to the aggregate amount of | ||||||
| 11 | indebtedness of the district existing immediately prior to the | ||||||
| 12 | district incurring the additional indebtedness authorized by | ||||||
| 13 | this subsection (d), causes the aggregate indebtedness of the | ||||||
| 14 | district to exceed the debt limitation otherwise applicable to | ||||||
| 15 | that district under subsection (a): | ||||||
| 16 | (1) The additional indebtedness authorized by this | ||||||
| 17 | subsection (d) is incurred by the school district through | ||||||
| 18 | the issuance of bonds under and in accordance with Section | ||||||
| 19 | 17-2.11a for the purpose of replacing a school building | ||||||
| 20 | which, because of mine subsidence damage, has been closed | ||||||
| 21 | as provided in paragraph (2) of this subsection (d) or | ||||||
| 22 | through the issuance of bonds under and in accordance with | ||||||
| 23 | Section 19-3 for the purpose of increasing the size of, or | ||||||
| 24 | providing for additional functions in, such replacement | ||||||
| 25 | school buildings, or both such purposes. | ||||||
| 26 | (2) The bonds issued by the school district as | ||||||
| |||||||
| |||||||
| 1 | provided in paragraph (1) above are issued for the | ||||||
| 2 | purposes of construction by the school district of a new | ||||||
| 3 | school building pursuant to Section 17-2.11, to replace an | ||||||
| 4 | existing school building that, because of mine subsidence | ||||||
| 5 | damage, is closed as of the end of the 1992-93 school year | ||||||
| 6 | pursuant to action of the regional superintendent of | ||||||
| 7 | schools of the educational service region in which the | ||||||
| 8 | district is located under Section 3-14.22 or are issued | ||||||
| 9 | for the purpose of increasing the size of, or providing | ||||||
| 10 | for additional functions in, the new school building being | ||||||
| 11 | constructed to replace a school building closed as the | ||||||
| 12 | result of mine subsidence damage, or both such purposes. | ||||||
| 13 | (e) (Blank). | ||||||
| 14 | (f) Notwithstanding the provisions of subsection (a) of | ||||||
| 15 | this Section or of any other law, bonds in not to exceed the | ||||||
| 16 | aggregate amount of $5,500,000 and issued by a school district | ||||||
| 17 | meeting the following criteria shall not be considered | ||||||
| 18 | indebtedness for purposes of any statutory limitation and may | ||||||
| 19 | be issued in an amount or amounts, including existing | ||||||
| 20 | indebtedness, in excess of any heretofore or hereafter imposed | ||||||
| 21 | statutory limitation as to indebtedness: | ||||||
| 22 | (1) At the time of the sale of such bonds, the board of | ||||||
| 23 | education of the district shall have determined by | ||||||
| 24 | resolution that the enrollment of students in the district | ||||||
| 25 | is projected to increase by not less than 7% during each of | ||||||
| 26 | the next succeeding 2 school years. | ||||||
| |||||||
| |||||||
| 1 | (2) The board of education shall also determine by | ||||||
| 2 | resolution that the improvements to be financed with the | ||||||
| 3 | proceeds of the bonds are needed because of the projected | ||||||
| 4 | enrollment increases. | ||||||
| 5 | (3) The board of education shall also determine by | ||||||
| 6 | resolution that the projected increases in enrollment are | ||||||
| 7 | the result of improvements made or expected to be made to | ||||||
| 8 | passenger rail facilities located in the school district. | ||||||
| 9 | Notwithstanding the provisions of subsection (a) of this | ||||||
| 10 | Section or of any other law, a school district that has availed | ||||||
| 11 | itself of the provisions of this subsection (f) prior to July | ||||||
| 12 | 22, 2004 (the effective date of Public Act 93-799) may also | ||||||
| 13 | issue bonds approved by referendum up to an amount, including | ||||||
| 14 | existing indebtedness, not exceeding 25% of the equalized | ||||||
| 15 | assessed value of the taxable property in the district if all | ||||||
| 16 | of the conditions set forth in items (1), (2), and (3) of this | ||||||
| 17 | subsection (f) are met. | ||||||
| 18 | (g) Notwithstanding the provisions of subsection (a) of | ||||||
| 19 | this Section or any other law, bonds in not to exceed an | ||||||
| 20 | aggregate amount of 25% of the equalized assessed value of the | ||||||
| 21 | taxable property of a school district and issued by a school | ||||||
| 22 | district meeting the criteria in paragraphs (i) through (iv) | ||||||
| 23 | of this subsection shall not be considered indebtedness for | ||||||
| 24 | purposes of any statutory limitation and may be issued | ||||||
| 25 | pursuant to resolution of the school board in an amount or | ||||||
| 26 | amounts, including existing indebtedness, in excess of any | ||||||
| |||||||
| |||||||
| 1 | statutory limitation of indebtedness heretofore or hereafter | ||||||
| 2 | imposed: | ||||||
| 3 | (i) The bonds are issued for the purpose of | ||||||
| 4 | constructing a new high school building to replace two | ||||||
| 5 | adjacent existing buildings which together house a single | ||||||
| 6 | high school, each of which is more than 65 years old, and | ||||||
| 7 | which together are located on more than 10 acres and less | ||||||
| 8 | than 11 acres of property. | ||||||
| 9 | (ii) At the time the resolution authorizing the | ||||||
| 10 | issuance of the bonds is adopted, the cost of constructing | ||||||
| 11 | a new school building to replace the existing school | ||||||
| 12 | building is less than 60% of the cost of repairing the | ||||||
| 13 | existing school building. | ||||||
| 14 | (iii) The sale of the bonds occurs before July 1, | ||||||
| 15 | 1997. | ||||||
| 16 | (iv) The school district issuing the bonds is a unit | ||||||
| 17 | school district located in a county of less than 70,000 | ||||||
| 18 | and more than 50,000 inhabitants, which has an average | ||||||
| 19 | daily attendance of less than 1,500 and an equalized | ||||||
| 20 | assessed valuation of less than $29,000,000. | ||||||
| 21 | (h) Notwithstanding any other provisions of this Section | ||||||
| 22 | or the provisions of any other law, until January 1, 1998, a | ||||||
| 23 | community unit school district maintaining grades K through 12 | ||||||
| 24 | may issue bonds up to an amount, including existing | ||||||
| 25 | indebtedness, not exceeding 27.6% of the equalized assessed | ||||||
| 26 | value of the taxable property in the district, if all of the | ||||||
| |||||||
| |||||||
| 1 | following conditions are met: | ||||||
| 2 | (i) The school district has an equalized assessed | ||||||
| 3 | valuation for calendar year 1995 of less than $24,000,000; | ||||||
| 4 | (ii) The bonds are issued for the capital improvement, | ||||||
| 5 | renovation, rehabilitation, or replacement of existing | ||||||
| 6 | school buildings of the district, all of which buildings | ||||||
| 7 | were originally constructed not less than 40 years ago; | ||||||
| 8 | (iii) The voters of the district approve a proposition | ||||||
| 9 | for the issuance of the bonds at a referendum held after | ||||||
| 10 | March 19, 1996; and | ||||||
| 11 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
| 12 | through 19-7 of this Code. | ||||||
| 13 | (i) Notwithstanding any other provisions of this Section | ||||||
| 14 | or the provisions of any other law, until January 1, 1998, a | ||||||
| 15 | community unit school district maintaining grades K through 12 | ||||||
| 16 | may issue bonds up to an amount, including existing | ||||||
| 17 | indebtedness, not exceeding 27% of the equalized assessed | ||||||
| 18 | value of the taxable property in the district, if all of the | ||||||
| 19 | following conditions are met: | ||||||
| 20 | (i) The school district has an equalized assessed | ||||||
| 21 | valuation for calendar year 1995 of less than $44,600,000; | ||||||
| 22 | (ii) The bonds are issued for the capital improvement, | ||||||
| 23 | renovation, rehabilitation, or replacement of existing | ||||||
| 24 | school buildings of the district, all of which existing | ||||||
| 25 | buildings were originally constructed not less than 80 | ||||||
| 26 | years ago; | ||||||
| |||||||
| |||||||
| 1 | (iii) The voters of the district approve a proposition | ||||||
| 2 | for the issuance of the bonds at a referendum held after | ||||||
| 3 | December 31, 1996; and | ||||||
| 4 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
| 5 | through 19-7 of this Code. | ||||||
| 6 | (j) Notwithstanding any other provisions of this Section | ||||||
| 7 | or the provisions of any other law, until January 1, 1999, a | ||||||
| 8 | community unit school district maintaining grades K through 12 | ||||||
| 9 | may issue bonds up to an amount, including existing | ||||||
| 10 | indebtedness, not exceeding 27% of the equalized assessed | ||||||
| 11 | value of the taxable property in the district if all of the | ||||||
| 12 | following conditions are met: | ||||||
| 13 | (i) The school district has an equalized assessed | ||||||
| 14 | valuation for calendar year 1995 of less than $140,000,000 | ||||||
| 15 | and a best 3 months average daily attendance for the | ||||||
| 16 | 1995-96 school year of at least 2,800; | ||||||
| 17 | (ii) The bonds are issued to purchase a site and build | ||||||
| 18 | and equip a new high school, and the school district's | ||||||
| 19 | existing high school was originally constructed not less | ||||||
| 20 | than 35 years prior to the sale of the bonds; | ||||||
| 21 | (iii) At the time of the sale of the bonds, the board | ||||||
| 22 | of education determines by resolution that a new high | ||||||
| 23 | school is needed because of projected enrollment | ||||||
| 24 | increases; | ||||||
| 25 | (iv) At least 60% of those voting in an election held | ||||||
| 26 | after December 31, 1996 approve a proposition for the | ||||||
| |||||||
| |||||||
| 1 | issuance of the bonds; and | ||||||
| 2 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
| 3 | through 19-7 of this Code. | ||||||
| 4 | (k) Notwithstanding the debt limitation prescribed in | ||||||
| 5 | subsection (a) of this Section, a school district that meets | ||||||
| 6 | all the criteria set forth in paragraphs (1) through (4) of | ||||||
| 7 | this subsection (k) may issue bonds to incur an additional | ||||||
| 8 | indebtedness in an amount not to exceed $4,000,000 even though | ||||||
| 9 | the amount of the additional indebtedness authorized by this | ||||||
| 10 | subsection (k), when incurred and added to the aggregate | ||||||
| 11 | amount of indebtedness of the school district existing | ||||||
| 12 | immediately prior to the school district incurring such | ||||||
| 13 | additional indebtedness, causes the aggregate indebtedness of | ||||||
| 14 | the school district to exceed or increases the amount by which | ||||||
| 15 | the aggregate indebtedness of the district already exceeds the | ||||||
| 16 | debt limitation otherwise applicable to that school district | ||||||
| 17 | under subsection (a): | ||||||
| 18 | (1) the school district is located in 2 counties, and | ||||||
| 19 | a referendum to authorize the additional indebtedness was | ||||||
| 20 | approved by a majority of the voters of the school | ||||||
| 21 | district voting on the proposition to authorize that | ||||||
| 22 | indebtedness; | ||||||
| 23 | (2) the additional indebtedness is for the purpose of | ||||||
| 24 | financing a multi-purpose room addition to the existing | ||||||
| 25 | high school; | ||||||
| 26 | (3) the additional indebtedness, together with the | ||||||
| |||||||
| |||||||
| 1 | existing indebtedness of the school district, shall not | ||||||
| 2 | exceed 17.4% of the value of the taxable property in the | ||||||
| 3 | school district, to be ascertained by the last assessment | ||||||
| 4 | for State and county taxes; and | ||||||
| 5 | (4) the bonds evidencing the additional indebtedness | ||||||
| 6 | are issued, if at all, within 120 days of August 14, 1998 | ||||||
| 7 | (the effective date of Public Act 90-757). | ||||||
| 8 | (l) Notwithstanding any other provisions of this Section | ||||||
| 9 | or the provisions of any other law, until January 1, 2000, a | ||||||
| 10 | school district maintaining grades kindergarten through 8 may | ||||||
| 11 | issue bonds up to an amount, including existing indebtedness, | ||||||
| 12 | not exceeding 15% of the equalized assessed value of the | ||||||
| 13 | taxable property in the district if all of the following | ||||||
| 14 | conditions are met: | ||||||
| 15 | (i) the district has an equalized assessed valuation | ||||||
| 16 | for calendar year 1996 of less than $10,000,000; | ||||||
| 17 | (ii) the bonds are issued for capital improvement, | ||||||
| 18 | renovation, rehabilitation, or replacement of one or more | ||||||
| 19 | school buildings of the district, which buildings were | ||||||
| 20 | originally constructed not less than 70 years ago; | ||||||
| 21 | (iii) the voters of the district approve a proposition | ||||||
| 22 | for the issuance of the bonds at a referendum held on or | ||||||
| 23 | after March 17, 1998; and | ||||||
| 24 | (iv) the bonds are issued pursuant to Sections 19-2 | ||||||
| 25 | through 19-7 of this Code. | ||||||
| 26 | (m) Notwithstanding any other provisions of this Section | ||||||
| |||||||
| |||||||
| 1 | or the provisions of any other law, until January 1, 1999, an | ||||||
| 2 | elementary school district maintaining grades K through 8 may | ||||||
| 3 | issue bonds up to an amount, excluding existing indebtedness, | ||||||
| 4 | not exceeding 18% of the equalized assessed value of the | ||||||
| 5 | taxable property in the district, if all of the following | ||||||
| 6 | conditions are met: | ||||||
| 7 | (i) The school district has an equalized assessed | ||||||
| 8 | valuation for calendar year 1995 of or less than | ||||||
| 9 | $7,700,000; | ||||||
| 10 | (ii) The school district operates 2 elementary | ||||||
| 11 | attendance centers that until 1976 were operated as the | ||||||
| 12 | attendance centers of 2 separate and distinct school | ||||||
| 13 | districts; | ||||||
| 14 | (iii) The bonds are issued for the construction of a | ||||||
| 15 | new elementary school building to replace an existing | ||||||
| 16 | multi-level elementary school building of the school | ||||||
| 17 | district that is not accessible at all levels and parts of | ||||||
| 18 | which were constructed more than 75 years ago; | ||||||
| 19 | (iv) The voters of the school district approve a | ||||||
| 20 | proposition for the issuance of the bonds at a referendum | ||||||
| 21 | held after July 1, 1998; and | ||||||
| 22 | (v) The bonds are issued pursuant to Sections 19-2 | ||||||
| 23 | through 19-7 of this Code. | ||||||
| 24 | (n) Notwithstanding the debt limitation prescribed in | ||||||
| 25 | subsection (a) of this Section or any other provisions of this | ||||||
| 26 | Section or of any other law, a school district that meets all | ||||||
| |||||||
| |||||||
| 1 | of the criteria set forth in paragraphs (i) through (vi) of | ||||||
| 2 | this subsection (n) may incur additional indebtedness by the | ||||||
| 3 | issuance of bonds in an amount not exceeding the amount | ||||||
| 4 | certified by the Capital Development Board to the school | ||||||
| 5 | district as provided in paragraph (iii) of this subsection | ||||||
| 6 | (n), even though the amount of the additional indebtedness so | ||||||
| 7 | authorized, when incurred and added to the aggregate amount of | ||||||
| 8 | indebtedness of the district existing immediately prior to the | ||||||
| 9 | district incurring the additional indebtedness authorized by | ||||||
| 10 | this subsection (n), causes the aggregate indebtedness of the | ||||||
| 11 | district to exceed the debt limitation otherwise applicable by | ||||||
| 12 | law to that district: | ||||||
| 13 | (i) The school district applies to the State Board of | ||||||
| 14 | Education for a school construction project grant and | ||||||
| 15 | submits a district facilities plan in support of its | ||||||
| 16 | application pursuant to Section 5-20 of the School | ||||||
| 17 | Construction Law. | ||||||
| 18 | (ii) The school district's application and facilities | ||||||
| 19 | plan are approved by, and the district receives a grant | ||||||
| 20 | entitlement for a school construction project issued by, | ||||||
| 21 | the State Board of Education under the School Construction | ||||||
| 22 | Law. | ||||||
| 23 | (iii) The school district has exhausted its bonding | ||||||
| 24 | capacity or the unused bonding capacity of the district is | ||||||
| 25 | less than the amount certified by the Capital Development | ||||||
| 26 | Board to the district under Section 5-15 of the School | ||||||
| |||||||
| |||||||
| 1 | Construction Law as the dollar amount of the school | ||||||
| 2 | construction project's cost that the district will be | ||||||
| 3 | required to finance with non-grant funds in order to | ||||||
| 4 | receive a school construction project grant under the | ||||||
| 5 | School Construction Law. | ||||||
| 6 | (iv) The bonds are issued for a "school construction | ||||||
| 7 | project", as that term is defined in Section 5-5 of the | ||||||
| 8 | School Construction Law, in an amount that does not exceed | ||||||
| 9 | the dollar amount certified, as provided in paragraph | ||||||
| 10 | (iii) of this subsection (n), by the Capital Development | ||||||
| 11 | Board to the school district under Section 5-15 of the | ||||||
| 12 | School Construction Law. | ||||||
| 13 | (v) The voters of the district approve a proposition | ||||||
| 14 | for the issuance of the bonds at a referendum held after | ||||||
| 15 | the criteria specified in paragraphs (i) and (iii) of this | ||||||
| 16 | subsection (n) are met. | ||||||
| 17 | (vi) The bonds are issued pursuant to Sections 19-2 | ||||||
| 18 | through 19-7 of the School Code. | ||||||
| 19 | (o) Notwithstanding any other provisions of this Section | ||||||
| 20 | or the provisions of any other law, until November 1, 2007, a | ||||||
| 21 | community unit school district maintaining grades K through 12 | ||||||
| 22 | may issue bonds up to an amount, including existing | ||||||
| 23 | indebtedness, not exceeding 20% of the equalized assessed | ||||||
| 24 | value of the taxable property in the district if all of the | ||||||
| 25 | following conditions are met: | ||||||
| 26 | (i) the school district has an equalized assessed | ||||||
| |||||||
| |||||||
| 1 | valuation for calendar year 2001 of at least $737,000,000 | ||||||
| 2 | and an enrollment for the 2002-2003 school year of at | ||||||
| 3 | least 8,500; | ||||||
| 4 | (ii) the bonds are issued to purchase school sites, | ||||||
| 5 | build and equip a new high school, build and equip a new | ||||||
| 6 | junior high school, build and equip 5 new elementary | ||||||
| 7 | schools, and make technology and other improvements and | ||||||
| 8 | additions to existing schools; | ||||||
| 9 | (iii) at the time of the sale of the bonds, the board | ||||||
| 10 | of education determines by resolution that the sites and | ||||||
| 11 | new or improved facilities are needed because of projected | ||||||
| 12 | enrollment increases; | ||||||
| 13 | (iv) at least 57% of those voting in a general | ||||||
| 14 | election held prior to January 1, 2003 approved a | ||||||
| 15 | proposition for the issuance of the bonds; and | ||||||
| 16 | (v) the bonds are issued pursuant to Sections 19-2 | ||||||
| 17 | through 19-7 of this Code. | ||||||
| 18 | (p) Notwithstanding any other provisions of this Section | ||||||
| 19 | or the provisions of any other law, a community unit school | ||||||
| 20 | district maintaining grades K through 12 may issue bonds up to | ||||||
| 21 | an amount, including indebtedness, not exceeding 27% of the | ||||||
| 22 | equalized assessed value of the taxable property in the | ||||||
| 23 | district if all of the following conditions are met: | ||||||
| 24 | (i) The school district has an equalized assessed | ||||||
| 25 | valuation for calendar year 2001 of at least $295,741,187 | ||||||
| 26 | and a best 3 months' average daily attendance for the | ||||||
| |||||||
| |||||||
| 1 | 2002-2003 school year of at least 2,394. | ||||||
| 2 | (ii) The bonds are issued to build and equip 3 | ||||||
| 3 | elementary school buildings; build and equip one middle | ||||||
| 4 | school building; and alter, repair, improve, and equip all | ||||||
| 5 | existing school buildings in the district. | ||||||
| 6 | (iii) At the time of the sale of the bonds, the board | ||||||
| 7 | of education determines by resolution that the project is | ||||||
| 8 | needed because of expanding growth in the school district | ||||||
| 9 | and a projected enrollment increase. | ||||||
| 10 | (iv) The bonds are issued pursuant to Sections 19-2 | ||||||
| 11 | through 19-7 of this Code. | ||||||
| 12 | (p-5) Notwithstanding any other provisions of this Section | ||||||
| 13 | or the provisions of any other law, bonds issued by a community | ||||||
| 14 | unit school district maintaining grades K through 12 shall not | ||||||
| 15 | be considered indebtedness for purposes of any statutory | ||||||
| 16 | limitation and may be issued in an amount or amounts, | ||||||
| 17 | including existing indebtedness, in excess of any heretofore | ||||||
| 18 | or hereafter imposed statutory limitation as to indebtedness, | ||||||
| 19 | if all of the following conditions are met: | ||||||
| 20 | (i) For each of the 4 most recent years, residential | ||||||
| 21 | property comprises more than 80% of the equalized assessed | ||||||
| 22 | valuation of the district. | ||||||
| 23 | (ii) At least 2 school buildings that were constructed | ||||||
| 24 | 40 or more years prior to the issuance of the bonds will be | ||||||
| 25 | demolished and will be replaced by new buildings or | ||||||
| 26 | additions to one or more existing buildings. | ||||||
| |||||||
| |||||||
| 1 | (iii) Voters of the district approve a proposition for | ||||||
| 2 | the issuance of the bonds at a general regularly scheduled | ||||||
| 3 | election. | ||||||
| 4 | (iv) At the time of the sale of the bonds, the school | ||||||
| 5 | board determines by resolution that the new buildings or | ||||||
| 6 | building additions are needed because of an increase in | ||||||
| 7 | enrollment projected by the school board. | ||||||
| 8 | (v) The principal amount of the bonds, including | ||||||
| 9 | existing indebtedness, does not exceed 25% of the | ||||||
| 10 | equalized assessed value of the taxable property in the | ||||||
| 11 | district. | ||||||
| 12 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
| 13 | pursuant to Sections 19-2 through 19-7 of this Code. | ||||||
| 14 | (p-10) Notwithstanding any other provisions of this | ||||||
| 15 | Section or the provisions of any other law, bonds issued by a | ||||||
| 16 | community consolidated school district maintaining grades K | ||||||
| 17 | through 8 shall not be considered indebtedness for purposes of | ||||||
| 18 | any statutory limitation and may be issued in an amount or | ||||||
| 19 | amounts, including existing indebtedness, in excess of any | ||||||
| 20 | heretofore or hereafter imposed statutory limitation as to | ||||||
| 21 | indebtedness, if all of the following conditions are met: | ||||||
| 22 | (i) For each of the 4 most recent years, residential | ||||||
| 23 | and farm property comprises more than 80% of the equalized | ||||||
| 24 | assessed valuation of the district. | ||||||
| 25 | (ii) The bond proceeds are to be used to acquire and | ||||||
| 26 | improve school sites and build and equip a school | ||||||
| |||||||
| |||||||
| 1 | building. | ||||||
| 2 | (iii) Voters of the district approve a proposition for | ||||||
| 3 | the issuance of the bonds at a general regularly scheduled | ||||||
| 4 | election. | ||||||
| 5 | (iv) At the time of the sale of the bonds, the school | ||||||
| 6 | board determines by resolution that the school sites and | ||||||
| 7 | building additions are needed because of an increase in | ||||||
| 8 | enrollment projected by the school board. | ||||||
| 9 | (v) The principal amount of the bonds, including | ||||||
| 10 | existing indebtedness, does not exceed 20% of the | ||||||
| 11 | equalized assessed value of the taxable property in the | ||||||
| 12 | district. | ||||||
| 13 | (vi) The bonds are issued prior to January 1, 2007, | ||||||
| 14 | pursuant to Sections 19-2 through 19-7 of this Code. | ||||||
| 15 | (p-15) In addition to all other authority to issue bonds, | ||||||
| 16 | the Oswego Community Unit School District Number 308 may issue | ||||||
| 17 | bonds with an aggregate principal amount not to exceed | ||||||
| 18 | $450,000,000, but only if all of the following conditions are | ||||||
| 19 | met: | ||||||
| 20 | (i) The voters of the district have approved a | ||||||
| 21 | proposition for the bond issue at the general election | ||||||
| 22 | held on November 7, 2006. | ||||||
| 23 | (ii) At the time of the sale of the bonds, the school | ||||||
| 24 | board determines, by resolution, that: (A) the building | ||||||
| 25 | and equipping of the new high school building, new junior | ||||||
| 26 | high school buildings, new elementary school buildings, | ||||||
| |||||||
| |||||||
| 1 | early childhood building, maintenance building, | ||||||
| 2 | transportation facility, and additions to existing school | ||||||
| 3 | buildings, the altering, repairing, equipping, and | ||||||
| 4 | provision of technology improvements to existing school | ||||||
| 5 | buildings, and the acquisition and improvement of school | ||||||
| 6 | sites, as the case may be, are required as a result of a | ||||||
| 7 | projected increase in the enrollment of students in the | ||||||
| 8 | district; and (B) the sale of bonds for these purposes is | ||||||
| 9 | authorized by legislation that exempts the debt incurred | ||||||
| 10 | on the bonds from the district's statutory debt | ||||||
| 11 | limitation. | ||||||
| 12 | (iii) The bonds are issued, in one or more bond | ||||||
| 13 | issues, on or before November 7, 2011, but the aggregate | ||||||
| 14 | principal amount issued in all such bond issues combined | ||||||
| 15 | must not exceed $450,000,000. | ||||||
| 16 | (iv) The bonds are issued in accordance with this | ||||||
| 17 | Article 19. | ||||||
| 18 | (v) The proceeds of the bonds are used only to | ||||||
| 19 | accomplish those projects approved by the voters at the | ||||||
| 20 | general election held on November 7, 2006. | ||||||
| 21 | The debt incurred on any bonds issued under this subsection | ||||||
| 22 | (p-15) shall not be considered indebtedness for purposes of | ||||||
| 23 | any statutory debt limitation. | ||||||
| 24 | (p-20) In addition to all other authority to issue bonds, | ||||||
| 25 | the Lincoln-Way Community High School District Number 210 may | ||||||
| 26 | issue bonds with an aggregate principal amount not to exceed | ||||||
| |||||||
| |||||||
| 1 | $225,000,000, but only if all of the following conditions are | ||||||
| 2 | met: | ||||||
| 3 | (i) The voters of the district have approved a | ||||||
| 4 | proposition for the bond issue at the general primary | ||||||
| 5 | election held on March 21, 2006. | ||||||
| 6 | (ii) At the time of the sale of the bonds, the school | ||||||
| 7 | board determines, by resolution, that: (A) the building | ||||||
| 8 | and equipping of the new high school buildings, the | ||||||
| 9 | altering, repairing, and equipping of existing school | ||||||
| 10 | buildings, and the improvement of school sites, as the | ||||||
| 11 | case may be, are required as a result of a projected | ||||||
| 12 | increase in the enrollment of students in the district; | ||||||
| 13 | and (B) the sale of bonds for these purposes is authorized | ||||||
| 14 | by legislation that exempts the debt incurred on the bonds | ||||||
| 15 | from the district's statutory debt limitation. | ||||||
| 16 | (iii) The bonds are issued, in one or more bond | ||||||
| 17 | issues, on or before March 21, 2011, but the aggregate | ||||||
| 18 | principal amount issued in all such bond issues combined | ||||||
| 19 | must not exceed $225,000,000. | ||||||
| 20 | (iv) The bonds are issued in accordance with this | ||||||
| 21 | Article 19. | ||||||
| 22 | (v) The proceeds of the bonds are used only to | ||||||
| 23 | accomplish those projects approved by the voters at the | ||||||
| 24 | primary election held on March 21, 2006. | ||||||
| 25 | The debt incurred on any bonds issued under this subsection | ||||||
| 26 | (p-20) shall not be considered indebtedness for purposes of | ||||||
| |||||||
| |||||||
| 1 | any statutory debt limitation. | ||||||
| 2 | (p-25) In addition to all other authority to issue bonds, | ||||||
| 3 | Rochester Community Unit School District 3A may issue bonds | ||||||
| 4 | with an aggregate principal amount not to exceed $18,500,000, | ||||||
| 5 | but only if all of the following conditions are met: | ||||||
| 6 | (i) The voters of the district approve a proposition | ||||||
| 7 | for the bond issuance at the general primary election held | ||||||
| 8 | in 2008. | ||||||
| 9 | (ii) At the time of the sale of the bonds, the school | ||||||
| 10 | board determines, by resolution, that: (A) the building | ||||||
| 11 | and equipping of a new high school building; the addition | ||||||
| 12 | of classrooms and support facilities at the high school, | ||||||
| 13 | middle school, and elementary school; the altering, | ||||||
| 14 | repairing, and equipping of existing school buildings; and | ||||||
| 15 | the improvement of school sites, as the case may be, are | ||||||
| 16 | required as a result of a projected increase in the | ||||||
| 17 | enrollment of students in the district; and (B) the sale | ||||||
| 18 | of bonds for these purposes is authorized by a law that | ||||||
| 19 | exempts the debt incurred on the bonds from the district's | ||||||
| 20 | statutory debt limitation. | ||||||
| 21 | (iii) The bonds are issued, in one or more bond | ||||||
| 22 | issues, on or before December 31, 2012, but the aggregate | ||||||
| 23 | principal amount issued in all such bond issues combined | ||||||
| 24 | must not exceed $18,500,000. | ||||||
| 25 | (iv) The bonds are issued in accordance with this | ||||||
| 26 | Article 19. | ||||||
| |||||||
| |||||||
| 1 | (v) The proceeds of the bonds are used to accomplish | ||||||
| 2 | only those projects approved by the voters at the primary | ||||||
| 3 | election held in 2008. | ||||||
| 4 | The debt incurred on any bonds issued under this subsection | ||||||
| 5 | (p-25) shall not be considered indebtedness for purposes of | ||||||
| 6 | any statutory debt limitation. | ||||||
| 7 | (p-30) In addition to all other authority to issue bonds, | ||||||
| 8 | Prairie Grove Consolidated School District 46 may issue bonds | ||||||
| 9 | with an aggregate principal amount not to exceed $30,000,000, | ||||||
| 10 | but only if all of the following conditions are met: | ||||||
| 11 | (i) The voters of the district approve a proposition | ||||||
| 12 | for the bond issuance at an election held in 2008. | ||||||
| 13 | (ii) At the time of the sale of the bonds, the school | ||||||
| 14 | board determines, by resolution, that (A) the building and | ||||||
| 15 | equipping of a new school building and additions to | ||||||
| 16 | existing school buildings are required as a result of a | ||||||
| 17 | projected increase in the enrollment of students in the | ||||||
| 18 | district and (B) the altering, repairing, and equipping of | ||||||
| 19 | existing school buildings are required because of the age | ||||||
| 20 | of the existing school buildings. | ||||||
| 21 | (iii) The bonds are issued, in one or more bond | ||||||
| 22 | issuances, on or before December 31, 2012; however, the | ||||||
| 23 | aggregate principal amount issued in all such bond | ||||||
| 24 | issuances combined must not exceed $30,000,000. | ||||||
| 25 | (iv) The bonds are issued in accordance with this | ||||||
| 26 | Article. | ||||||
| |||||||
| |||||||
| 1 | (v) The proceeds of the bonds are used to accomplish | ||||||
| 2 | only those projects approved by the voters at an election | ||||||
| 3 | held in 2008. | ||||||
| 4 | The debt incurred on any bonds issued under this subsection | ||||||
| 5 | (p-30) shall not be considered indebtedness for purposes of | ||||||
| 6 | any statutory debt limitation. | ||||||
| 7 | (p-35) In addition to all other authority to issue bonds, | ||||||
| 8 | Prairie Hill Community Consolidated School District 133 may | ||||||
| 9 | issue bonds with an aggregate principal amount not to exceed | ||||||
| 10 | $13,900,000, but only if all of the following conditions are | ||||||
| 11 | met: | ||||||
| 12 | (i) The voters of the district approved a proposition | ||||||
| 13 | for the bond issuance at an election held on April 17, | ||||||
| 14 | 2007. | ||||||
| 15 | (ii) At the time of the sale of the bonds, the school | ||||||
| 16 | board determines, by resolution, that (A) the improvement | ||||||
| 17 | of the site of and the building and equipping of a school | ||||||
| 18 | building are required as a result of a projected increase | ||||||
| 19 | in the enrollment of students in the district and (B) the | ||||||
| 20 | repairing and equipping of the Prairie Hill Elementary | ||||||
| 21 | School building is required because of the age of that | ||||||
| 22 | school building. | ||||||
| 23 | (iii) The bonds are issued, in one or more bond | ||||||
| 24 | issuances, on or before December 31, 2011, but the | ||||||
| 25 | aggregate principal amount issued in all such bond | ||||||
| 26 | issuances combined must not exceed $13,900,000. | ||||||
| |||||||
| |||||||
| 1 | (iv) The bonds are issued in accordance with this | ||||||
| 2 | Article. | ||||||
| 3 | (v) The proceeds of the bonds are used to accomplish | ||||||
| 4 | only those projects approved by the voters at an election | ||||||
| 5 | held on April 17, 2007. | ||||||
| 6 | The debt incurred on any bonds issued under this subsection | ||||||
| 7 | (p-35) shall not be considered indebtedness for purposes of | ||||||
| 8 | any statutory debt limitation. | ||||||
| 9 | (p-40) In addition to all other authority to issue bonds, | ||||||
| 10 | Mascoutah Community Unit District 19 may issue bonds with an | ||||||
| 11 | aggregate principal amount not to exceed $55,000,000, but only | ||||||
| 12 | if all of the following conditions are met: | ||||||
| 13 | (1) The voters of the district approve a proposition | ||||||
| 14 | for the bond issuance at a regular election held on or | ||||||
| 15 | after November 4, 2008. | ||||||
| 16 | (2) At the time of the sale of the bonds, the school | ||||||
| 17 | board determines, by resolution, that (i) the building and | ||||||
| 18 | equipping of a new high school building is required as a | ||||||
| 19 | result of a projected increase in the enrollment of | ||||||
| 20 | students in the district and the age and condition of the | ||||||
| 21 | existing high school building, (ii) the existing high | ||||||
| 22 | school building will be demolished, and (iii) the sale of | ||||||
| 23 | bonds is authorized by a statute that exempts the debt | ||||||
| 24 | incurred on the bonds from the district's statutory debt | ||||||
| 25 | limitation. | ||||||
| 26 | (3) The bonds are issued, in one or more bond | ||||||
| |||||||
| |||||||
| 1 | issuances, on or before December 31, 2011, but the | ||||||
| 2 | aggregate principal amount issued in all such bond | ||||||
| 3 | issuances combined must not exceed $55,000,000. | ||||||
| 4 | (4) The bonds are issued in accordance with this | ||||||
| 5 | Article. | ||||||
| 6 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 7 | only those projects approved by the voters at a regular | ||||||
| 8 | election held on or after November 4, 2008. | ||||||
| 9 | The debt incurred on any bonds issued under this | ||||||
| 10 | subsection (p-40) shall not be considered indebtedness for | ||||||
| 11 | purposes of any statutory debt limitation. | ||||||
| 12 | (p-45) Notwithstanding the provisions of subsection (a) of | ||||||
| 13 | this Section or of any other law, bonds issued pursuant to | ||||||
| 14 | Section 19-3.5 of this Code shall not be considered | ||||||
| 15 | indebtedness for purposes of any statutory limitation if the | ||||||
| 16 | bonds are issued in an amount or amounts, including existing | ||||||
| 17 | indebtedness of the school district, not in excess of 18.5% of | ||||||
| 18 | the value of the taxable property in the district to be | ||||||
| 19 | ascertained by the last assessment for State and county taxes. | ||||||
| 20 | (p-50) Notwithstanding the provisions of subsection (a) of | ||||||
| 21 | this Section or of any other law, bonds issued pursuant to | ||||||
| 22 | Section 19-3.10 of this Code shall not be considered | ||||||
| 23 | indebtedness for purposes of any statutory limitation if the | ||||||
| 24 | bonds are issued in an amount or amounts, including existing | ||||||
| 25 | indebtedness of the school district, not in excess of 43% of | ||||||
| 26 | the value of the taxable property in the district to be | ||||||
| |||||||
| |||||||
| 1 | ascertained by the last assessment for State and county taxes. | ||||||
| 2 | (p-55) In addition to all other authority to issue bonds, | ||||||
| 3 | Belle Valley School District 119 may issue bonds with an | ||||||
| 4 | aggregate principal amount not to exceed $47,500,000, 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 April | ||||||
| 8 | 7, 2009. | ||||||
| 9 | (2) Prior to the issuance of the bonds, the school | ||||||
| 10 | board determines, by resolution, that (i) the building and | ||||||
| 11 | equipping of a new school building is required as a result | ||||||
| 12 | of mine subsidence in an existing school building and | ||||||
| 13 | because of the age and condition of another existing | ||||||
| 14 | school building and (ii) the issuance of bonds is | ||||||
| 15 | authorized by a statute that exempts the debt incurred on | ||||||
| 16 | the bonds from the district's statutory debt limitation. | ||||||
| 17 | (3) The bonds are issued, in one or more bond | ||||||
| 18 | issuances, on or before March 31, 2014, but the aggregate | ||||||
| 19 | principal amount issued in all such bond issuances | ||||||
| 20 | combined must not exceed $47,500,000. | ||||||
| 21 | (4) The bonds are issued in accordance with this | ||||||
| 22 | Article. | ||||||
| 23 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 24 | only those projects approved by the voters at an election | ||||||
| 25 | held on or after April 7, 2009. | ||||||
| 26 | The debt incurred on any bonds issued under this | ||||||
| |||||||
| |||||||
| 1 | subsection (p-55) shall not be considered indebtedness for | ||||||
| 2 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 3 | this subsection (p-55) must mature within not to exceed 30 | ||||||
| 4 | years from their date, notwithstanding any other law to the | ||||||
| 5 | contrary. | ||||||
| 6 | (p-60) In addition to all other authority to issue bonds, | ||||||
| 7 | Wilmington Community Unit School District Number 209-U may | ||||||
| 8 | issue bonds with an aggregate principal amount not to exceed | ||||||
| 9 | $2,285,000, but only if all of the following conditions are | ||||||
| 10 | met: | ||||||
| 11 | (1) 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 March 21, 2006. | ||||||
| 14 | (2) Prior to the issuance of the bonds, the school | ||||||
| 15 | board determines, by resolution, that (i) the projects | ||||||
| 16 | approved by the voters were and are required because of | ||||||
| 17 | the age and condition of the school district's prior and | ||||||
| 18 | existing school buildings and (ii) the issuance of the | ||||||
| 19 | bonds is authorized by legislation that exempts the debt | ||||||
| 20 | incurred on the bonds from the district's statutory debt | ||||||
| 21 | limitation. | ||||||
| 22 | (3) The bonds are issued in one or more bond issuances | ||||||
| 23 | on or before March 1, 2011, but the aggregate principal | ||||||
| 24 | amount issued in all those bond issuances combined must | ||||||
| 25 | not exceed $2,285,000. | ||||||
| 26 | (4) The bonds are issued in accordance with this | ||||||
| |||||||
| |||||||
| 1 | Article. | ||||||
| 2 | The debt incurred on any bonds issued under this | ||||||
| 3 | subsection (p-60) shall not be considered indebtedness for | ||||||
| 4 | purposes of any statutory debt limitation. | ||||||
| 5 | (p-65) In addition to all other authority to issue bonds, | ||||||
| 6 | West Washington County Community Unit School District 10 may | ||||||
| 7 | issue bonds with an aggregate principal amount not to exceed | ||||||
| 8 | $32,200,000 and maturing over a period not exceeding 25 years, | ||||||
| 9 | but only if all of the following conditions are met: | ||||||
| 10 | (1) The voters of the district approve a proposition | ||||||
| 11 | for the bond issuance at an election held on or after | ||||||
| 12 | February 2, 2010. | ||||||
| 13 | (2) Prior to the issuance of the bonds, the school | ||||||
| 14 | board determines, by resolution, that (A) all or a portion | ||||||
| 15 | of the existing Okawville Junior/Senior High School | ||||||
| 16 | Building will be demolished; (B) the building and | ||||||
| 17 | equipping of a new school building to be attached to and | ||||||
| 18 | the alteration, repair, and equipping of the remaining | ||||||
| 19 | portion of the Okawville Junior/Senior High School | ||||||
| 20 | Building is required because of the age and current | ||||||
| 21 | condition of that school building; and (C) the issuance of | ||||||
| 22 | bonds is authorized by a statute that exempts the debt | ||||||
| 23 | incurred on the bonds from the district's statutory debt | ||||||
| 24 | limitation. | ||||||
| 25 | (3) The bonds are issued, in one or more bond | ||||||
| 26 | issuances, on or before March 31, 2014, but the aggregate | ||||||
| |||||||
| |||||||
| 1 | principal amount issued in all such bond issuances | ||||||
| 2 | combined must not exceed $32,200,000. | ||||||
| 3 | (4) The bonds are issued in accordance with this | ||||||
| 4 | Article. | ||||||
| 5 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 6 | only those projects approved by the voters at an election | ||||||
| 7 | held on or after February 2, 2010. | ||||||
| 8 | The debt incurred on any bonds issued under this | ||||||
| 9 | subsection (p-65) shall not be considered indebtedness for | ||||||
| 10 | purposes of any statutory debt limitation. | ||||||
| 11 | (p-70) In addition to all other authority to issue bonds, | ||||||
| 12 | Cahokia Community Unit School District 187 may issue bonds | ||||||
| 13 | with an aggregate principal amount not to exceed $50,000,000, | ||||||
| 14 | 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 | ||||||
| 17 | November 2, 2010. | ||||||
| 18 | (2) Prior to the issuance of the bonds, the school | ||||||
| 19 | board determines, by resolution, that (i) the building and | ||||||
| 20 | equipping of a new school building is required as a result | ||||||
| 21 | of the age and condition of an existing school building | ||||||
| 22 | and (ii) the issuance of bonds is authorized by a statute | ||||||
| 23 | that exempts the debt incurred on the bonds from the | ||||||
| 24 | district's statutory debt limitation. | ||||||
| 25 | (3) The bonds are issued, in one or more issuances, on | ||||||
| 26 | or before July 1, 2016, but the aggregate principal amount | ||||||
| |||||||
| |||||||
| 1 | issued in all such bond issuances combined must not exceed | ||||||
| 2 | $50,000,000. | ||||||
| 3 | (4) The bonds are issued in accordance with this | ||||||
| 4 | Article. | ||||||
| 5 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 6 | only those projects approved by the voters at an election | ||||||
| 7 | held on or after November 2, 2010. | ||||||
| 8 | The debt incurred on any bonds issued under this | ||||||
| 9 | subsection (p-70) shall not be considered indebtedness for | ||||||
| 10 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 11 | this subsection (p-70) must mature within not to exceed 25 | ||||||
| 12 | years from their date, notwithstanding any other law, | ||||||
| 13 | including Section 19-3 of this Code, to the contrary. | ||||||
| 14 | (p-75) Notwithstanding the debt limitation prescribed in | ||||||
| 15 | subsection (a) of this Section or any other provisions of this | ||||||
| 16 | Section or of any other law, the execution of leases on or | ||||||
| 17 | after January 1, 2007 and before July 1, 2011 by the Board of | ||||||
| 18 | Education of Peoria School District 150 with a public building | ||||||
| 19 | commission for leases entered into pursuant to the Public | ||||||
| 20 | Building Commission Act shall not be considered indebtedness | ||||||
| 21 | for purposes of any statutory debt limitation. | ||||||
| 22 | This subsection (p-75) applies only if the State Board of | ||||||
| 23 | Education or the Capital Development Board makes one or more | ||||||
| 24 | grants to Peoria School District 150 pursuant to the School | ||||||
| 25 | Construction Law. The amount exempted from the debt limitation | ||||||
| 26 | as prescribed in this subsection (p-75) shall be no greater | ||||||
| |||||||
| |||||||
| 1 | than the amount of one or more grants awarded to Peoria School | ||||||
| 2 | District 150 by the State Board of Education or the Capital | ||||||
| 3 | Development Board. | ||||||
| 4 | (p-80) In addition to all other authority to issue bonds, | ||||||
| 5 | Ridgeland School District 122 may issue bonds with an | ||||||
| 6 | aggregate principal amount not to exceed $50,000,000 for the | ||||||
| 7 | purpose of refunding or continuing to refund bonds originally | ||||||
| 8 | issued pursuant to voter approval at the general election held | ||||||
| 9 | on November 7, 2000, and the debt incurred on any bonds issued | ||||||
| 10 | under this subsection (p-80) shall not be considered | ||||||
| 11 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 12 | Bonds issued under this subsection (p-80) may be issued in one | ||||||
| 13 | or more issuances and must mature within not to exceed 25 years | ||||||
| 14 | from their date, notwithstanding any other law, including | ||||||
| 15 | Section 19-3 of this Code, to the contrary. | ||||||
| 16 | (p-85) In addition to all other authority to issue bonds, | ||||||
| 17 | Hall High School District 502 may issue bonds with an | ||||||
| 18 | aggregate principal amount not to exceed $32,000,000, but only | ||||||
| 19 | if all the following conditions are met: | ||||||
| 20 | (1) The voters of the district approve a proposition | ||||||
| 21 | for the bond issuance at an election held on or after April | ||||||
| 22 | 9, 2013. | ||||||
| 23 | (2) Prior to the issuance of the bonds, the school | ||||||
| 24 | board determines, by resolution, that (i) the building and | ||||||
| 25 | equipping of a new school building is required as a result | ||||||
| 26 | of the age and condition of an existing school building, | ||||||
| |||||||
| |||||||
| 1 | (ii) the existing school building should be demolished in | ||||||
| 2 | its entirety or the existing school building should be | ||||||
| 3 | demolished except for the 1914 west wing of the building, | ||||||
| 4 | and (iii) 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 $32,000,000. | ||||||
| 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 April 9, 2013. | ||||||
| 17 | The debt incurred on any bonds issued under this | ||||||
| 18 | subsection (p-85) shall not be considered indebtedness for | ||||||
| 19 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 20 | this subsection (p-85) must mature within not to exceed 30 | ||||||
| 21 | years from their date, notwithstanding any other law, | ||||||
| 22 | including Section 19-3 of this Code, to the contrary. | ||||||
| 23 | (p-90) In addition to all other authority to issue bonds, | ||||||
| 24 | Lebanon Community Unit School District 9 may issue bonds with | ||||||
| 25 | an aggregate principal amount not to exceed $7,500,000, but | ||||||
| 26 | only if all of the following conditions are met: | ||||||
| |||||||
| |||||||
| 1 | (1) The voters of the district approved a proposition | ||||||
| 2 | for the bond issuance at the general primary election on | ||||||
| 3 | February 2, 2010. | ||||||
| 4 | (2) At or prior to the time of the sale of the bonds, | ||||||
| 5 | the school board determines, by resolution, that (i) the | ||||||
| 6 | building and equipping of a new elementary school building | ||||||
| 7 | is required as a result of a projected increase in the | ||||||
| 8 | enrollment of students in the district and the age and | ||||||
| 9 | condition of the existing Lebanon Elementary School | ||||||
| 10 | building, (ii) a portion of the existing Lebanon | ||||||
| 11 | Elementary School building will be demolished and the | ||||||
| 12 | remaining portion will be altered, repaired, and equipped, | ||||||
| 13 | and (iii) the sale of bonds is authorized by a statute that | ||||||
| 14 | exempts the debt incurred on the bonds from the district's | ||||||
| 15 | statutory debt limitation. | ||||||
| 16 | (3) The bonds are issued, in one or more bond | ||||||
| 17 | issuances, on or before April 1, 2014, but the aggregate | ||||||
| 18 | principal amount issued in all such bond issuances | ||||||
| 19 | combined must not exceed $7,500,000. | ||||||
| 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 those projects approved by the voters at the general | ||||||
| 24 | primary election held on February 2, 2010. | ||||||
| 25 | The debt incurred on any bonds issued under this | ||||||
| 26 | subsection (p-90) shall not be considered indebtedness for | ||||||
| |||||||
| |||||||
| 1 | purposes of any statutory debt limitation. | ||||||
| 2 | (p-95) In addition to all other authority to issue bonds, | ||||||
| 3 | Monticello Community Unit School District 25 may issue bonds | ||||||
| 4 | with an aggregate principal amount not to exceed $35,000,000, | ||||||
| 5 | but only 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 | ||||||
| 8 | November 4, 2014. | ||||||
| 9 | (2) Prior to the issuance of the bonds, the school | ||||||
| 10 | board determines, by resolution, that (i) the building and | ||||||
| 11 | equipping of a new school building is required as a result | ||||||
| 12 | of the age and condition of an existing school building | ||||||
| 13 | and (ii) the issuance of bonds is authorized by a statute | ||||||
| 14 | that exempts the debt incurred on the bonds from the | ||||||
| 15 | district's statutory debt limitation. | ||||||
| 16 | (3) The bonds are issued, in one or more issuances, on | ||||||
| 17 | or before July 1, 2020, but the aggregate principal amount | ||||||
| 18 | issued in all such bond issuances combined must not exceed | ||||||
| 19 | $35,000,000. | ||||||
| 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 those projects approved by the voters at an election | ||||||
| 24 | held on or after November 4, 2014. | ||||||
| 25 | The debt incurred on any bonds issued under this | ||||||
| 26 | subsection (p-95) shall not be considered indebtedness for | ||||||
| |||||||
| |||||||
| 1 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 2 | this subsection (p-95) must mature within not to exceed 25 | ||||||
| 3 | years from their date, notwithstanding any other law, | ||||||
| 4 | including Section 19-3 of this Code, to the contrary. | ||||||
| 5 | (p-100) In addition to all other authority to issue bonds, | ||||||
| 6 | the community unit school district created in the territory | ||||||
| 7 | comprising Milford Community Consolidated School District 280 | ||||||
| 8 | and Milford Township High School District 233, as approved at | ||||||
| 9 | the general primary election held on March 18, 2014, may issue | ||||||
| 10 | bonds with an aggregate principal amount not to exceed | ||||||
| 11 | $17,500,000, but only if all the following conditions are met: | ||||||
| 12 | (1) The voters of the district approve a proposition | ||||||
| 13 | for the bond issuance at an election held on or after | ||||||
| 14 | November 4, 2014. | ||||||
| 15 | (2) Prior to the issuance of the bonds, the school | ||||||
| 16 | board determines, by resolution, that (i) the building and | ||||||
| 17 | equipping of a new school building is required as a result | ||||||
| 18 | of the age and condition of an existing school building | ||||||
| 19 | and (ii) 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, on | ||||||
| 23 | or before July 1, 2020, but the aggregate principal amount | ||||||
| 24 | issued in all such bond issuances combined must not exceed | ||||||
| 25 | $17,500,000. | ||||||
| 26 | (4) The bonds are issued in accordance with this | ||||||
| |||||||
| |||||||
| 1 | Article. | ||||||
| 2 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 3 | only those projects approved by the voters at an election | ||||||
| 4 | held on or after November 4, 2014. | ||||||
| 5 | The debt incurred on any bonds issued under this | ||||||
| 6 | subsection (p-100) shall not be considered indebtedness for | ||||||
| 7 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 8 | this subsection (p-100) must mature within not to exceed 25 | ||||||
| 9 | years from their date, notwithstanding any other law, | ||||||
| 10 | including Section 19-3 of this Code, to the contrary. | ||||||
| 11 | (p-105) In addition to all other authority to issue bonds, | ||||||
| 12 | North Shore School District 112 may issue bonds with an | ||||||
| 13 | aggregate principal amount not to exceed $150,000,000, but | ||||||
| 14 | only if all of 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 | 15, 2016. | ||||||
| 18 | (2) Prior to the issuance of the bonds, the school | ||||||
| 19 | board determines, by resolution, that (i) the building and | ||||||
| 20 | equipping of new buildings and improving the sites thereof | ||||||
| 21 | and the building and equipping of additions to, altering, | ||||||
| 22 | repairing, equipping, and renovating existing buildings | ||||||
| 23 | and improving the sites thereof are required as a result | ||||||
| 24 | of the age and condition of the district's existing | ||||||
| 25 | buildings and (ii) the issuance of bonds is authorized by | ||||||
| 26 | a statute that exempts the debt incurred on the bonds from | ||||||
| |||||||
| |||||||
| 1 | the district's statutory debt limitation. | ||||||
| 2 | (3) The bonds are issued, in one or more issuances, | ||||||
| 3 | not later than 5 years after the date of the referendum | ||||||
| 4 | approving the issuance of the bonds, but the aggregate | ||||||
| 5 | principal amount issued in all such bond issuances | ||||||
| 6 | combined must not exceed $150,000,000. | ||||||
| 7 | (4) The bonds are issued in accordance with this | ||||||
| 8 | Article. | ||||||
| 9 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 10 | only those projects approved by the voters at an election | ||||||
| 11 | held on or after March 15, 2016. | ||||||
| 12 | The debt incurred on any bonds issued under this | ||||||
| 13 | subsection (p-105) and on any bonds issued to refund or | ||||||
| 14 | continue to refund such bonds shall not be considered | ||||||
| 15 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 16 | Bonds issued under this subsection (p-105) and any bonds | ||||||
| 17 | issued to refund or continue to refund such bonds must mature | ||||||
| 18 | within not to exceed 30 years from their date, notwithstanding | ||||||
| 19 | any other law, including Section 19-3 of this Code, to the | ||||||
| 20 | contrary. | ||||||
| 21 | (p-110) In addition to all other authority to issue bonds, | ||||||
| 22 | Sandoval Community Unit School District 501 may issue bonds | ||||||
| 23 | with an aggregate principal amount not to exceed $2,000,000, | ||||||
| 24 | but only if all of the following conditions are met: | ||||||
| 25 | (1) The voters of the district approved a proposition | ||||||
| 26 | for the bond issuance at an election held on March 20, | ||||||
| |||||||
| |||||||
| 1 | 2012. | ||||||
| 2 | (2) Prior to the issuance of the bonds, the school | ||||||
| 3 | board determines, by resolution, that (i) the building and | ||||||
| 4 | equipping of a new school building is required because of | ||||||
| 5 | the age and current condition of the Sandoval Elementary | ||||||
| 6 | School building and (ii) the issuance of bonds is | ||||||
| 7 | authorized by a statute that exempts the debt incurred on | ||||||
| 8 | the bonds from the district's statutory debt limitation. | ||||||
| 9 | (3) The bonds are issued, in one or more bond | ||||||
| 10 | issuances, on or before March 19, 2022, but the aggregate | ||||||
| 11 | principal amount issued in all such bond issuances | ||||||
| 12 | combined must not exceed $2,000,000. | ||||||
| 13 | (4) The bonds are issued in accordance with this | ||||||
| 14 | Article. | ||||||
| 15 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 16 | only those projects approved by the voters at the election | ||||||
| 17 | held on March 20, 2012. | ||||||
| 18 | The debt incurred on any bonds issued under this | ||||||
| 19 | subsection (p-110) and on any bonds issued to refund or | ||||||
| 20 | continue to refund the bonds shall not be considered | ||||||
| 21 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 22 | (p-115) In addition to all other authority to issue bonds, | ||||||
| 23 | Bureau Valley Community Unit School District 340 may issue | ||||||
| 24 | bonds with an aggregate principal amount not to exceed | ||||||
| 25 | $25,000,000, but only if all of the following conditions are | ||||||
| 26 | met: | ||||||
| |||||||
| |||||||
| 1 | (1) The voters of the district approve a proposition | ||||||
| 2 | for the bond issuance at an election held on or after March | ||||||
| 3 | 15, 2016. | ||||||
| 4 | (2) Prior to the issuances of the bonds, the school | ||||||
| 5 | board determines, by resolution, that (i) the renovating | ||||||
| 6 | and equipping of some existing school buildings, the | ||||||
| 7 | building and equipping of new school buildings, and the | ||||||
| 8 | demolishing of some existing school buildings are required | ||||||
| 9 | as a result of the age and condition of existing school | ||||||
| 10 | buildings and (ii) the issuance of bonds is authorized by | ||||||
| 11 | a statute that exempts the debt incurred on the bonds from | ||||||
| 12 | the district's statutory debt limitation. | ||||||
| 13 | (3) The bonds are issued, in one or more issuances, on | ||||||
| 14 | or before July 1, 2021, but the aggregate principal amount | ||||||
| 15 | issued in all such bond issuances combined must not exceed | ||||||
| 16 | $25,000,000. | ||||||
| 17 | (4) The bonds are issued in accordance with this | ||||||
| 18 | Article. | ||||||
| 19 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 20 | only those projects approved by the voters at an election | ||||||
| 21 | held on or after March 15, 2016. | ||||||
| 22 | The debt incurred on any bonds issued under this | ||||||
| 23 | subsection (p-115) shall not be considered indebtedness for | ||||||
| 24 | purposes of any statutory debt limitation. Bonds issued under | ||||||
| 25 | this subsection (p-115) must mature within not to exceed 30 | ||||||
| 26 | years from their date, notwithstanding any other law, | ||||||
| |||||||
| |||||||
| 1 | including Section 19-3 of this Code, to the contrary. | ||||||
| 2 | (p-120) In addition to all other authority to issue bonds, | ||||||
| 3 | Paxton-Buckley-Loda Community Unit School District 10 may | ||||||
| 4 | issue bonds with an aggregate principal amount not to exceed | ||||||
| 5 | $28,500,000, but only if all 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 | ||||||
| 8 | November 8, 2016. | ||||||
| 9 | (2) Prior to the issuance of the bonds, the school | ||||||
| 10 | board determines, by resolution, that (i) the projects as | ||||||
| 11 | described in said proposition, relating to the building | ||||||
| 12 | and equipping of one or more school buildings or additions | ||||||
| 13 | to existing school buildings, are required as a result of | ||||||
| 14 | the age and condition of the District's existing buildings | ||||||
| 15 | and (ii) the issuance of bonds is authorized by a statute | ||||||
| 16 | that exempts the debt incurred on the bonds from the | ||||||
| 17 | district's 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 $28,500,000. | ||||||
| 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 | ||||||
| |||||||
| |||||||
| 1 | held on or after November 8, 2016. | ||||||
| 2 | The debt incurred on any bonds issued under this | ||||||
| 3 | subsection (p-120) 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-120) 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-125) In addition to all other authority to issue bonds, | ||||||
| 12 | Hillsboro Community Unit School District 3 may issue bonds | ||||||
| 13 | with an aggregate principal amount not to exceed $34,500,000, | ||||||
| 14 | 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 March | ||||||
| 17 | 15, 2016. | ||||||
| 18 | (2) Prior to the issuance of the bonds, the school | ||||||
| 19 | board determines, by resolution, that (i) altering, | ||||||
| 20 | repairing, and equipping the high school | ||||||
| 21 | agricultural/vocational building, demolishing the high | ||||||
| 22 | school main, cafeteria, and gym buildings, building and | ||||||
| 23 | equipping a school building, and improving sites are | ||||||
| 24 | required as a result of the age and condition of the | ||||||
| 25 | district's existing buildings and (ii) the issuance of | ||||||
| 26 | bonds is authorized by a statute that exempts the debt | ||||||
| |||||||
| |||||||
| 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 $34,500,000. | ||||||
| 8 | (4) The bonds are issued in accordance with this | ||||||
| 9 | Article. | ||||||
| 10 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 11 | only those projects approved by the voters at an election | ||||||
| 12 | held on or after March 15, 2016. | ||||||
| 13 | The debt incurred on any bonds issued under this | ||||||
| 14 | subsection (p-125) 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-125) 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-130) In addition to all other authority to issue bonds, | ||||||
| 23 | Waltham Community Consolidated School District 185 may incur | ||||||
| 24 | indebtedness in an aggregate principal amount not to exceed | ||||||
| 25 | $9,500,000 to build and equip a new school building and | ||||||
| 26 | improve the site thereof, but only if all the following | ||||||
| |||||||
| |||||||
| 1 | conditions are met: | ||||||
| 2 | (1) A majority of the voters of the district voting on | ||||||
| 3 | an advisory question voted in favor of the question | ||||||
| 4 | regarding the use of funding sources to build a new school | ||||||
| 5 | building without increasing property tax rates at the | ||||||
| 6 | general election held on November 8, 2016. | ||||||
| 7 | (2) Prior to incurring the debt, the school board | ||||||
| 8 | enters into intergovernmental agreements with the City of | ||||||
| 9 | LaSalle to pledge moneys in a special tax allocation fund | ||||||
| 10 | associated with tax increment financing districts LaSalle | ||||||
| 11 | I and LaSalle III and with the Village of Utica to pledge | ||||||
| 12 | moneys in a special tax allocation fund associated with | ||||||
| 13 | tax increment financing district Utica I for the purposes | ||||||
| 14 | of repaying the debt issued pursuant to this subsection | ||||||
| 15 | (p-130). Notwithstanding any other provision of law to the | ||||||
| 16 | contrary, the intergovernmental agreement may extend these | ||||||
| 17 | tax increment financing districts as necessary to ensure | ||||||
| 18 | repayment of the debt. | ||||||
| 19 | (3) Prior to incurring the debt, the school board | ||||||
| 20 | determines, by resolution, that (i) the building and | ||||||
| 21 | equipping of a new school building is required as a result | ||||||
| 22 | of the age and condition of the district's existing | ||||||
| 23 | buildings and (ii) the debt is authorized by a statute | ||||||
| 24 | that exempts the debt from the district's statutory debt | ||||||
| 25 | limitation. | ||||||
| 26 | (4) The debt is incurred, in one or more issuances, | ||||||
| |||||||
| |||||||
| 1 | not later than January 1, 2021, and the aggregate | ||||||
| 2 | principal amount of debt issued in all such issuances | ||||||
| 3 | combined must not exceed $9,500,000. | ||||||
| 4 | The debt incurred under this subsection (p-130) and on any | ||||||
| 5 | bonds issued to pay, refund, or continue to refund such debt | ||||||
| 6 | shall not be considered indebtedness for purposes of any | ||||||
| 7 | statutory debt limitation. Debt issued under this subsection | ||||||
| 8 | (p-130) and any bonds issued to pay, refund, or continue to | ||||||
| 9 | refund such debt must mature within not to exceed 25 years from | ||||||
| 10 | their date, notwithstanding any other law, including Section | ||||||
| 11 | 19-11 of this Code and subsection (b) of Section 17 of the | ||||||
| 12 | Local Government Debt Reform Act, to the contrary. | ||||||
| 13 | (p-133) Notwithstanding the provisions of subsection (a) | ||||||
| 14 | of this Section or of any other law, bonds heretofore or | ||||||
| 15 | hereafter issued by East Prairie School District 73 with an | ||||||
| 16 | aggregate principal amount not to exceed $47,353,147 and | ||||||
| 17 | approved by the voters of the district at the general election | ||||||
| 18 | held on November 8, 2016, and any bonds issued to refund or | ||||||
| 19 | continue to refund the bonds, shall not be considered | ||||||
| 20 | indebtedness for the purposes of any statutory debt limitation | ||||||
| 21 | and may mature within not to exceed 25 years from their date, | ||||||
| 22 | notwithstanding any other law, including Section 19-3 of this | ||||||
| 23 | Code, to the contrary. | ||||||
| 24 | (p-135) In addition to all other authority to issue bonds, | ||||||
| 25 | Brookfield LaGrange Park School District Number 95 may issue | ||||||
| 26 | bonds with an aggregate principal amount not to exceed | ||||||
| |||||||
| |||||||
| 1 | $20,000,000, but only if all the following conditions are met: | ||||||
| 2 | (1) The voters of the district approve a proposition | ||||||
| 3 | for the bond issuance at an election held on or after April | ||||||
| 4 | 4, 2017. | ||||||
| 5 | (2) Prior to the issuance of the bonds, the school | ||||||
| 6 | board determines, by resolution, that (i) the additions | ||||||
| 7 | and renovations to the Brook Park Elementary and S. E. | ||||||
| 8 | Gross Middle School buildings are required to accommodate | ||||||
| 9 | enrollment growth, replace outdated facilities, and create | ||||||
| 10 | spaces consistent with 21st century learning and (ii) the | ||||||
| 11 | issuance of the 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 $20,000,000. | ||||||
| 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 an election | ||||||
| 23 | held on or after April 4, 2017. | ||||||
| 24 | The debt incurred on any bonds issued under this | ||||||
| 25 | subsection (p-135) and on any bonds issued to refund or | ||||||
| 26 | continue to refund such bonds shall not be considered | ||||||
| |||||||
| |||||||
| 1 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 2 | (p-140) The debt incurred on any bonds issued by Wolf | ||||||
| 3 | Branch School District 113 under Section 17-2.11 of this Code | ||||||
| 4 | for the purpose of repairing or replacing all or a portion of a | ||||||
| 5 | school building that has been damaged by mine subsidence in an | ||||||
| 6 | aggregate principal amount not to exceed $17,500,000 and on | ||||||
| 7 | any bonds issued to refund or continue to refund those bonds | ||||||
| 8 | shall not be considered indebtedness for purposes of any | ||||||
| 9 | statutory debt limitation and must mature no later than 25 | ||||||
| 10 | years from the date of issuance, notwithstanding any other | ||||||
| 11 | provision of law to the contrary, including Section 19-3 of | ||||||
| 12 | this Code. The maximum allowable amount of debt exempt from | ||||||
| 13 | statutory debt limitations under this subsection (p-140) shall | ||||||
| 14 | be reduced by an amount equal to any grants awarded by the | ||||||
| 15 | State Board of Education or Capital Development Board for the | ||||||
| 16 | explicit purpose of repairing or reconstructing a school | ||||||
| 17 | building damaged by mine subsidence. | ||||||
| 18 | (p-145) In addition to all other authority to issue bonds, | ||||||
| 19 | Greenview Community Unit School District 200 may issue bonds | ||||||
| 20 | with an aggregate principal amount not to exceed $3,500,000, | ||||||
| 21 | but only if all of the following conditions are met: | ||||||
| 22 | (1) The voters of the district approve a proposition | ||||||
| 23 | for the bond issuance at an election held on March 17, | ||||||
| 24 | 2020. | ||||||
| 25 | (2) Prior to the issuance of the bonds, the school | ||||||
| 26 | board determines, by resolution, that the bonding is | ||||||
| |||||||
| |||||||
| 1 | necessary for construction and expansion of the district's | ||||||
| 2 | kindergarten through grade 12 facility. | ||||||
| 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 $3,500,000. | ||||||
| 8 | (4) The bonds are issued in accordance with this | ||||||
| 9 | Article. | ||||||
| 10 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 11 | only the projects approved by the voters at an election | ||||||
| 12 | held on March 17, 2020. | ||||||
| 13 | The debt incurred on any bonds issued under this | ||||||
| 14 | subsection (p-145) 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-145) 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-150) In addition to all other authority to issue bonds, | ||||||
| 23 | Komarek School District 94 may issue bonds with an aggregate | ||||||
| 24 | principal amount not to exceed $20,800,000, but only if all of | ||||||
| 25 | the following conditions are met: | ||||||
| 26 | (1) The voters of the district approve a proposition | ||||||
| |||||||
| |||||||
| 1 | for the bond issuance at an election held on or after March | ||||||
| 2 | 17, 2020. | ||||||
| 3 | (2) Prior to the issuance of the bonds, the school | ||||||
| 4 | board determines, by resolution, that (i) building and | ||||||
| 5 | equipping additions to, altering, repairing, equipping, or | ||||||
| 6 | demolishing a portion of, or improving the site of the | ||||||
| 7 | district's existing school building is required as a | ||||||
| 8 | result of the age and condition of the existing building | ||||||
| 9 | and (ii) the issuance of the bonds is authorized by a | ||||||
| 10 | statute that exempts the debt incurred on the bonds from | ||||||
| 11 | the district's statutory debt limitation. | ||||||
| 12 | (3) The bonds are issued, in one or more issuances, no | ||||||
| 13 | later than 5 years after the date of the referendum | ||||||
| 14 | approving the issuance of the bonds, but the aggregate | ||||||
| 15 | principal amount issued in all of the bond issuances | ||||||
| 16 | combined may not exceed $20,800,000. | ||||||
| 17 | (4) The bonds are issued in accordance with this | ||||||
| 18 | Article. | ||||||
| 19 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 20 | only those projects approved by the voters at an election | ||||||
| 21 | held on or after March 17, 2020. | ||||||
| 22 | The debt incurred on any bonds issued under this | ||||||
| 23 | subsection (p-150) and on any bonds issued to refund or | ||||||
| 24 | continue to refund those bonds may not be considered | ||||||
| 25 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 26 | Notwithstanding any other law to the contrary, including | ||||||
| |||||||
| |||||||
| 1 | Section 19-3, bonds issued under this subsection (p-150) and | ||||||
| 2 | any bonds issued to refund or continue to refund those bonds | ||||||
| 3 | must mature within 30 years from their date of issuance. | ||||||
| 4 | (p-155) In addition to all other authority to issue bonds, | ||||||
| 5 | Williamsville Community Unit School District 15 may issue | ||||||
| 6 | bonds with an aggregate principal amount not to exceed | ||||||
| 7 | $40,000,000, but only if all of the following conditions are | ||||||
| 8 | met: | ||||||
| 9 | (1) The voters of the school district approve a | ||||||
| 10 | proposition for the bond issuance at an election held on | ||||||
| 11 | March 17, 2020. | ||||||
| 12 | (2) Prior to the issuance of the bonds, the school | ||||||
| 13 | board determines, by resolution, that the projects set | ||||||
| 14 | forth in the proposition for the bond issuance were and | ||||||
| 15 | are required because of the age and condition of the | ||||||
| 16 | school district's existing school buildings. | ||||||
| 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 $40,000,000. | ||||||
| 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 the projects approved by the voters at an election | ||||||
| 26 | held on March 17, 2020. | ||||||
| |||||||
| |||||||
| 1 | The debt incurred on any bonds issued under this | ||||||
| 2 | subsection (p-155) 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-155) and any bonds | ||||||
| 6 | issued to refund or continue to refund such bonds must mature | ||||||
| 7 | within not to exceed 25 years from their date, notwithstanding | ||||||
| 8 | any other law, including Section 19-3 of this Code, to the | ||||||
| 9 | contrary. | ||||||
| 10 | (p-160) In addition to all other authority to issue bonds, | ||||||
| 11 | Berkeley School District 87 may issue bonds with an aggregate | ||||||
| 12 | principal amount not to exceed $105,000,000, but only if all | ||||||
| 13 | of the following conditions are met: | ||||||
| 14 | (1) The voters of the district approve a proposition | ||||||
| 15 | for the bond issuance at the general primary election held | ||||||
| 16 | on March 17, 2020. | ||||||
| 17 | (2) Prior to the issuance of the bonds, the school | ||||||
| 18 | board determines, by resolution, that (i) building and | ||||||
| 19 | equipping a school building to replace the Sunnyside | ||||||
| 20 | Intermediate and MacArthur Middle School buildings; | ||||||
| 21 | building and equipping additions to and altering, | ||||||
| 22 | repairing, and equipping the Riley Intermediate and | ||||||
| 23 | Northlake Middle School buildings; altering, repairing, | ||||||
| 24 | and equipping the Whittier Primary and Jefferson Primary | ||||||
| 25 | School buildings; improving sites; renovating | ||||||
| 26 | instructional spaces; providing STEM (science, technology, | ||||||
| |||||||
| |||||||
| 1 | engineering, and mathematics) labs; and constructing life | ||||||
| 2 | safety, security, and infrastructure improvements are | ||||||
| 3 | required to replace outdated facilities and to provide | ||||||
| 4 | safe spaces consistent with 21st century learning and (ii) | ||||||
| 5 | the issuance of bonds is authorized by a statute that | ||||||
| 6 | exempts the debt incurred on the bonds from the district's | ||||||
| 7 | statutory debt limitation. | ||||||
| 8 | (3) The bonds are issued, in one or more issuances, | ||||||
| 9 | not later than 5 years after the date of the referendum | ||||||
| 10 | approving the issuance of the bonds, but the aggregate | ||||||
| 11 | principal amount issued in all such bond issuances | ||||||
| 12 | combined must not exceed $105,000,000. | ||||||
| 13 | (4) The bonds are issued in accordance with this | ||||||
| 14 | Article. | ||||||
| 15 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 16 | only those projects approved by the voters at the general | ||||||
| 17 | primary election held on March 17, 2020. | ||||||
| 18 | The debt incurred on any bonds issued under this | ||||||
| 19 | subsection (p-160) and on any bonds issued to refund or | ||||||
| 20 | continue to refund such bonds shall not be considered | ||||||
| 21 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 22 | (p-165) In addition to all other authority to issue bonds, | ||||||
| 23 | Elmwood Park Community Unit School District 401 may issue | ||||||
| 24 | bonds with an aggregate principal amount not to exceed | ||||||
| 25 | $55,000,000, but only if all of the following conditions are | ||||||
| 26 | met: | ||||||
| |||||||
| |||||||
| 1 | (1) The voters of the district approve a proposition | ||||||
| 2 | for the bond issuance at an election held on or after March | ||||||
| 3 | 17, 2020. | ||||||
| 4 | (2) Prior to the issuance of the bonds, the school | ||||||
| 5 | board determines, by resolution, that (i) the building and | ||||||
| 6 | equipping of an addition to the John Mills Elementary | ||||||
| 7 | School building; the renovating, altering, repairing, and | ||||||
| 8 | equipping of the John Mills and Elmwood Elementary School | ||||||
| 9 | buildings; the installation of safety and security | ||||||
| 10 | improvements; and the improvement of school sites are | ||||||
| 11 | required as a result of the age and condition of the | ||||||
| 12 | district's existing school buildings and (ii) the issuance | ||||||
| 13 | of bonds is authorized by a statute that exempts the debt | ||||||
| 14 | incurred on the bonds from the district's statutory debt | ||||||
| 15 | limitation. | ||||||
| 16 | (3) The bonds are issued, in one or more issuances, | ||||||
| 17 | not later than 5 years after the date of the referendum | ||||||
| 18 | approving the issuance of the bonds, but the aggregate | ||||||
| 19 | principal amount issued in all such bond issuances | ||||||
| 20 | combined must not exceed $55,000,000. | ||||||
| 21 | (4) The bonds are issued in accordance with this | ||||||
| 22 | Article. | ||||||
| 23 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 24 | only the projects approved by the voters at an election | ||||||
| 25 | held on or after March 17, 2020. | ||||||
| 26 | The debt incurred on any bonds issued under this | ||||||
| |||||||
| |||||||
| 1 | subsection (p-165) and on any bonds issued to refund or | ||||||
| 2 | continue to refund such bonds shall not be considered | ||||||
| 3 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 4 | Bonds issued under this subsection (p-165) and any bonds | ||||||
| 5 | issued to refund or continue to refund such bonds must mature | ||||||
| 6 | within not to exceed 25 years from their date, notwithstanding | ||||||
| 7 | any other law, including Section 19-3 of this Code, to the | ||||||
| 8 | contrary. | ||||||
| 9 | (p-170) In addition to all other authority to issue bonds, | ||||||
| 10 | Maroa-Forsyth Community Unit School District 2 may issue bonds | ||||||
| 11 | with an aggregate principal amount not to exceed $33,000,000, | ||||||
| 12 | but only if all of the following conditions are met: | ||||||
| 13 | (1) The voters of the school district approve a | ||||||
| 14 | proposition for the bond issuance at an election held on | ||||||
| 15 | March 17, 2020. | ||||||
| 16 | (2) Prior to the issuance of the bonds, the school | ||||||
| 17 | board determines, by resolution, that the projects set | ||||||
| 18 | forth in the proposition for the bond issuance were and | ||||||
| 19 | are required because of the age and condition of the | ||||||
| 20 | school district's existing school buildings. | ||||||
| 21 | (3) The bonds are issued, in one or more issuances, | ||||||
| 22 | not later than 5 years after the date of the referendum | ||||||
| 23 | approving the issuance of the bonds, but the aggregate | ||||||
| 24 | principal amount issued in all such bond issuances | ||||||
| 25 | combined must not exceed $33,000,000. | ||||||
| 26 | (4) The bonds are issued in accordance with this | ||||||
| |||||||
| |||||||
| 1 | Article. | ||||||
| 2 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 3 | only the projects approved by the voters at an election | ||||||
| 4 | held on March 17, 2020. | ||||||
| 5 | The debt incurred on any bonds issued under this | ||||||
| 6 | subsection (p-170) and on any bonds issued to refund or | ||||||
| 7 | continue to refund such bonds shall not be considered | ||||||
| 8 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 9 | Bonds issued under this subsection (p-170) and any bonds | ||||||
| 10 | issued to refund or continue to refund such bonds must mature | ||||||
| 11 | within not to exceed 25 years from their date, notwithstanding | ||||||
| 12 | any other law, including Section 19-3 of this Code, to the | ||||||
| 13 | contrary. | ||||||
| 14 | (p-175) In addition to all other authority to issue bonds, | ||||||
| 15 | Schiller Park School District 81 may issue bonds with an | ||||||
| 16 | aggregate principal amount not to exceed $30,000,000, but only | ||||||
| 17 | if all of the following conditions are met: | ||||||
| 18 | (1) The voters of the district approve a proposition | ||||||
| 19 | for the bond issuance at an election held on or after March | ||||||
| 20 | 17, 2020. | ||||||
| 21 | (2) Prior to the issuance of the bonds, the school | ||||||
| 22 | board determines, by resolution, that (i) building and | ||||||
| 23 | equipping a school building to replace the Washington | ||||||
| 24 | Elementary School building, installing fire suppression | ||||||
| 25 | systems, security systems, and federal Americans with | ||||||
| 26 | Disability Act of 1990 compliance measures, acquiring | ||||||
| |||||||
| |||||||
| 1 | land, and improving the site are required to accommodate | ||||||
| 2 | enrollment growth, replace an outdated facility, and | ||||||
| 3 | create spaces consistent with 21st century learning and | ||||||
| 4 | (ii) the issuance of bonds is authorized by a statute that | ||||||
| 5 | exempts 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 $30,000,000. | ||||||
| 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 March 17, 2020. | ||||||
| 17 | The debt incurred on any bonds issued under this | ||||||
| 18 | subsection (p-175) 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-175) and any bonds | ||||||
| 22 | issued to refund or continue to refund such bonds must mature | ||||||
| 23 | within not to exceed 27 years from their date, notwithstanding | ||||||
| 24 | any other law, including Section 19-3 of this Code, to the | ||||||
| 25 | contrary. | ||||||
| 26 | (p-180) In addition to all other authority to issue bonds, | ||||||
| |||||||
| |||||||
| 1 | Iroquois County Community Unit School District 9 may issue | ||||||
| 2 | bonds with an aggregate principal amount not to exceed | ||||||
| 3 | $17,125,000, but only if all of the following conditions are | ||||||
| 4 | met: | ||||||
| 5 | (1) The voters of the district approve a proposition | ||||||
| 6 | for the bond issuance at an election held on or after April | ||||||
| 7 | 6, 2021. | ||||||
| 8 | (2) Prior to the issuance of the bonds, the school | ||||||
| 9 | board determines, by resolution, that (i) building and | ||||||
| 10 | equipping a new school building in the City of Watseka; | ||||||
| 11 | altering, repairing, renovating, and equipping portions of | ||||||
| 12 | the existing facilities of the district; and making site | ||||||
| 13 | improvements is necessary because of the age and condition | ||||||
| 14 | of the 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 $17,125,000. | ||||||
| 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 | ||||||
| |||||||
| |||||||
| 1 | held on or after April 6, 2021. | ||||||
| 2 | The debt incurred on any bonds issued under this | ||||||
| 3 | subsection (p-180) 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-180) 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-185) In addition to all other authority to issue bonds, | ||||||
| 12 | Field Community Consolidated School District 3 may issue bonds | ||||||
| 13 | with an aggregate principal amount not to exceed $2,600,000, | ||||||
| 14 | but only if all of 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 April | ||||||
| 17 | 6, 2021. | ||||||
| 18 | (2) Prior to the issuance of the bonds, the school | ||||||
| 19 | board determines, by resolution, that (i) it is necessary | ||||||
| 20 | to alter, repair, renovate, and equip the existing | ||||||
| 21 | facilities of the district, including, but not limited to, | ||||||
| 22 | roof replacement, lighting replacement, electrical | ||||||
| 23 | upgrades, restroom repairs, and gym renovations, and make | ||||||
| 24 | site improvements because of the age and condition of the | ||||||
| 25 | district's existing school facilities and (ii) the | ||||||
| 26 | issuance of bonds is authorized by a statute that exempts | ||||||
| |||||||
| |||||||
| 1 | the debt incurred on the bonds from the district's | ||||||
| 2 | statutory debt limitation. | ||||||
| 3 | (3) The bonds are issued, in one or more issuances, | ||||||
| 4 | not later than 5 years after the date of the referendum | ||||||
| 5 | approving the issuance of the bonds, but the aggregate | ||||||
| 6 | principal amount issued in all such bond issuances | ||||||
| 7 | combined must not exceed $2,600,000. | ||||||
| 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 April 6, 2021. | ||||||
| 13 | The debt incurred on any bonds issued under this | ||||||
| 14 | subsection (p-185) 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-185) 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-190) In addition to all other authority to issue bonds, | ||||||
| 23 | Mahomet-Seymour Community Unit School District 3 may issue | ||||||
| 24 | bonds with an aggregate principal amount not to exceed | ||||||
| 25 | $97,900,000, but only if all the following conditions are met: | ||||||
| 26 | (1) The voters of the district approve a proposition | ||||||
| |||||||
| |||||||
| 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 build and equip a new junior high school building, | ||||||
| 6 | build and equip a new transportation building, and build | ||||||
| 7 | and equip additions to, renovate, and make site | ||||||
| 8 | improvements at the Lincoln Trail Elementary building, | ||||||
| 9 | Middletown Prairie Elementary building, and | ||||||
| 10 | Mahomet-Seymour High School building and (ii) the issuance | ||||||
| 11 | of 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 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 $97,900,000. | ||||||
| 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-190) and on any bonds issued to refund or | ||||||
| 26 | continue to refund such bonds shall not be considered | ||||||
| |||||||
| |||||||
| 1 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 2 | Bonds issued under this subsection (p-190) 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-195) In addition to all other authority to issue bonds, | ||||||
| 8 | New Berlin Community Unit School District 16 may issue bonds | ||||||
| 9 | with an aggregate principal amount not to exceed $23,500,000, | ||||||
| 10 | but 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 alter, repair, and equip the junior/senior high school | ||||||
| 17 | building, including creating new classroom, gym, and other | ||||||
| 18 | instructional spaces, renovating the J.V. Kirby Pretzel | ||||||
| 19 | Dome, improving heating, cooling, and ventilation systems, | ||||||
| 20 | installing school safety and security improvements, | ||||||
| 21 | removing asbestos, and making site improvements, and (ii) | ||||||
| 22 | the issuance of bonds is authorized by a statute that | ||||||
| 23 | exempts the debt incurred on the bonds from the district's | ||||||
| 24 | statutory debt limitation. | ||||||
| 25 | (3) The bonds are issued, in one or more issuances, | ||||||
| 26 | not later than 5 years after the date of the referendum | ||||||
| |||||||
| |||||||
| 1 | approving the issuance of the bonds, but the aggregate | ||||||
| 2 | principal amount issued in all such bond issuances | ||||||
| 3 | combined must not exceed $23,500,000. | ||||||
| 4 | (4) The bonds are issued in accordance with this | ||||||
| 5 | Article. | ||||||
| 6 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 7 | only the projects approved by the voters at an election | ||||||
| 8 | held on or after June 28, 2022. | ||||||
| 9 | The debt incurred on any bonds issued under this | ||||||
| 10 | subsection (p-195) and on any bonds issued to refund or | ||||||
| 11 | continue to refund such bonds shall not be considered | ||||||
| 12 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 13 | Bonds issued under this subsection (p-195) and any bonds | ||||||
| 14 | issued to refund or continue to refund such bonds must mature | ||||||
| 15 | within not to exceed 25 years from their date, notwithstanding | ||||||
| 16 | any other law, including Section 19-3 of this Code, to the | ||||||
| 17 | contrary. | ||||||
| 18 | (p-200) In addition to all other authority to issue bonds, | ||||||
| 19 | Highland Community Unit School District 5 may issue bonds with | ||||||
| 20 | an aggregate principal amount not to exceed $40,000,000, but | ||||||
| 21 | only if all the following conditions are met: | ||||||
| 22 | (1) The voters of the district approve a proposition | ||||||
| 23 | for the bond issuance at an election held on or after June | ||||||
| 24 | 28, 2022. | ||||||
| 25 | (2) Prior to the issuance of the bonds, the school | ||||||
| 26 | board determines, by resolution, that (i) it is necessary | ||||||
| |||||||
| |||||||
| 1 | to improve the sites of, build, and equip a new primary | ||||||
| 2 | school building and build and equip additions to and | ||||||
| 3 | alter, repair, and equip existing school buildings and | ||||||
| 4 | (ii) the issuance of bonds is authorized by a statute that | ||||||
| 5 | exempts 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 $40,000,000. | ||||||
| 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 June 28, 2022. | ||||||
| 17 | The debt incurred on any bonds issued under this | ||||||
| 18 | subsection (p-200) 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-200) 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-205) In addition to all other authority to issue bonds, | ||||||
| |||||||
| |||||||
| 1 | Sullivan Community Unit School District 300 may issue bonds | ||||||
| 2 | with an aggregate principal amount not to exceed $25,000,000, | ||||||
| 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 June | ||||||
| 6 | 28, 2022. | ||||||
| 7 | (2) Prior to the issuance of the bonds, the school | ||||||
| 8 | board determines, by resolution, that (i) the projects set | ||||||
| 9 | forth in the proposition for the issuance of the bonds are | ||||||
| 10 | required because of the age, condition, or capacity of the | ||||||
| 11 | school district's existing school buildings and (ii) the | ||||||
| 12 | issuance of bonds is authorized by a statute that exempts | ||||||
| 13 | the debt incurred on the bonds from the district's | ||||||
| 14 | 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 $25,000,000. | ||||||
| 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-205) and on any bonds issued to refund or | ||||||
| |||||||
| |||||||
| 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-205) 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-210) In addition to all other authority to issue bonds, | ||||||
| 9 | Manhattan School District 114 may issue bonds with an | ||||||
| 10 | aggregate principal amount not to exceed $85,000,000, but only | ||||||
| 11 | if all the following conditions are met: | ||||||
| 12 | (1) The voters of the district approve a proposition | ||||||
| 13 | for the bond issuance at an election held on or after June | ||||||
| 14 | 28, 2022. | ||||||
| 15 | (2) Prior to the issuance of the bonds, the school | ||||||
| 16 | board determines, by resolution, that the projects set | ||||||
| 17 | forth in the proposition for the bond issuance were and | ||||||
| 18 | are required because of the age, condition, or capacity of | ||||||
| 19 | the school district's existing school buildings. | ||||||
| 20 | (3) The bonds are issued, in one or more issuances, | ||||||
| 21 | not later than 5 years after the date of the referendum | ||||||
| 22 | approving the issuances of the bonds, but the aggregate | ||||||
| 23 | principal amount issued in all such bond issuances | ||||||
| 24 | combined must not exceed $85,000,000. | ||||||
| 25 | (4) The bonds are issued in accordance with this | ||||||
| 26 | Article. | ||||||
| |||||||
| |||||||
| 1 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 2 | only the projects approved by the voters at an election | ||||||
| 3 | held on or after June 28, 2022. | ||||||
| 4 | The debt incurred on any bonds issued under this | ||||||
| 5 | subsection (p-210) and on any bonds issued to refund or | ||||||
| 6 | continue to refund such bonds shall not be considered | ||||||
| 7 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 8 | Bonds issued under this subsection (p-210) and any bonds | ||||||
| 9 | issued to refund or continue to refund such bonds must mature | ||||||
| 10 | within not to exceed 30 years from their date, notwithstanding | ||||||
| 11 | any other law, including Section 19-3 of this Code, to the | ||||||
| 12 | contrary. | ||||||
| 13 | (p-215) In addition to all other authority to issue bonds, | ||||||
| 14 | Golf Elementary School District 67 may issue bonds with an | ||||||
| 15 | aggregate principal amount not to exceed $56,000,000, but only | ||||||
| 16 | if all of 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 June | ||||||
| 19 | 28, 2022. | ||||||
| 20 | (2) Prior to the issuance of the bonds, the school | ||||||
| 21 | board determines, by resolution, that (i) it is necessary | ||||||
| 22 | to build and equip a new school building and improve the | ||||||
| 23 | site thereof and (ii) the issuance of bonds is authorized | ||||||
| 24 | by a statute that exempts the debt incurred on the bonds | ||||||
| 25 | from the district's statutory debt limitation. | ||||||
| 26 | (3) The bonds are issued, in one or more issuances, | ||||||
| |||||||
| |||||||
| 1 | not later than 5 years after the date of the referendum | ||||||
| 2 | approving the issuance of the bonds, but the aggregate | ||||||
| 3 | principal amount issued in all such bond issuances | ||||||
| 4 | combined must not exceed $56,000,000. | ||||||
| 5 | (4) The bonds are issued in accordance with this | ||||||
| 6 | Article. | ||||||
| 7 | (5) The proceeds of the bonds are used to accomplish | ||||||
| 8 | only the projects approved by the voters at an election | ||||||
| 9 | held on or after June 28, 2022. | ||||||
| 10 | The debt incurred on any bonds issued under this | ||||||
| 11 | subsection (p-215) and on any bonds issued to refund or | ||||||
| 12 | continue to refund such bonds shall not be considered | ||||||
| 13 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 14 | Bonds issued under this subsection (p-215) and any bonds | ||||||
| 15 | issued to refund or continue to refund such bonds must mature | ||||||
| 16 | within not to exceed 25 years from their date, notwithstanding | ||||||
| 17 | any other law, including Section 19-3 of this Code, to the | ||||||
| 18 | contrary. | ||||||
| 19 | (p-220) In addition to all other authority to issue bonds, | ||||||
| 20 | Joliet Public Schools District 86 may issue bonds with an | ||||||
| 21 | aggregate principal amount not to exceed $99,500,000, but only | ||||||
| 22 | if all the following conditions are met: | ||||||
| 23 | (1) The voters of the district approve a proposition | ||||||
| 24 | for the bond issuance at an election held on or after April | ||||||
| 25 | 4, 2023. | ||||||
| 26 | (2) Prior to the issuance of the bonds, the school | ||||||
| |||||||
| |||||||
| 1 | board determines, by resolution, that the projects set | ||||||
| 2 | forth in the proposition for the bond issuance were and | ||||||
| 3 | are required because of the age and condition of the | ||||||
| 4 | school district's existing school buildings. | ||||||
| 5 | (3) The bonds are issued, in one or more issuances, | ||||||
| 6 | not later than 5 years after the date of the referendum | ||||||
| 7 | approving the issuance of the bonds, but the aggregate | ||||||
| 8 | principal amount issued in all such bond issuances | ||||||
| 9 | combined must not exceed $99,500,000. | ||||||
| 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 the projects approved by the voters at an election | ||||||
| 14 | held on or after April 4, 2023. | ||||||
| 15 | The debt incurred on any bonds issued under this | ||||||
| 16 | subsection (p-220), 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-220) 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-225) In addition to all other authority to issue bonds, | ||||||
| 25 | Union Ridge School District 86 may issue bonds with an | ||||||
| 26 | aggregate principal amount not to exceed $35,000,000, but only | ||||||
| |||||||
| |||||||
| 1 | if all 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 | or after March 19, 2024. | ||||||
| 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 $35,000,000. | ||||||
| 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 or after March 19, 2024. | ||||||
| 20 | The debt incurred on any bonds issued under this | ||||||
| 21 | subsection (p-225) 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-225) 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 | ||||||
| |||||||
| |||||||
| 1 | any other law, including Section 19-3 of this Code, to the | ||||||
| 2 | contrary. | ||||||
| 3 | (p-230) In addition to all other authority to issue bonds, | ||||||
| 4 | Bethel School District 82 may issue bonds with an aggregate | ||||||
| 5 | principal amount not to exceed $3,975,000, but only if all the | ||||||
| 6 | following conditions are met: | ||||||
| 7 | (1) The voters of the school district approve a | ||||||
| 8 | proposition for the bond issuance at an election held on | ||||||
| 9 | or after March 19, 2024. | ||||||
| 10 | (2) Prior to the issuance of the bonds, the school | ||||||
| 11 | board determines, by resolution, that the projects set | ||||||
| 12 | forth in the proposition for the bond issuance were and | ||||||
| 13 | are required because of the age and condition of the | ||||||
| 14 | school district's existing school buildings. | ||||||
| 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 $3,975,000. | ||||||
| 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 March 19, 2024. | ||||||
| 25 | The debt incurred on any bonds issued under this | ||||||
| 26 | subsection (p-230) and on any bonds issued to refund or | ||||||
| |||||||
| |||||||
| 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-230) 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-235) Notwithstanding the provisions of any other law to | ||||||
| 9 | the contrary, debt incurred on any bonds issued under Section | ||||||
| 10 | 19-3 of this Code and authorized by an election held on or | ||||||
| 11 | after November 5, 2024 and on any bonds issued to refund or | ||||||
| 12 | continue to refund such bonds shall not be considered | ||||||
| 13 | indebtedness for purposes of any statutory debt limitation. | ||||||
| 14 | Bonds issued under Section 19-3 of this Code and authorized by | ||||||
| 15 | an election held on or after November 5, 2024 and any bonds | ||||||
| 16 | issued to refund or continue to refund such bonds must mature | ||||||
| 17 | within 30 years from their date, notwithstanding any other | ||||||
| 18 | law, including Section 19-3 of this Code, to the contrary. | ||||||
| 19 | (q) A school district must notify the State Board of | ||||||
| 20 | Education prior to issuing any form of long-term or short-term | ||||||
| 21 | debt that will result in outstanding debt that exceeds 75% of | ||||||
| 22 | the debt limit specified in this Section or any other | ||||||
| 23 | provision of law. | ||||||
| 24 | (Source: P.A. 103-449, eff. 1-1-24; 103-591, eff. 7-1-24; | ||||||
| 25 | 103-978, eff. 8-9-24; 104-417, eff. 8-15-25.) | ||||||
| |||||||
| |||||||
| 1 | (105 ILCS 5/19-3) (from Ch. 122, par. 19-3) | ||||||
| 2 | Sec. 19-3. Boards of education. Any school district | ||||||
| 3 | governed by a board of education and having a population of not | ||||||
| 4 | more than 500,000 inhabitants, and not governed by a special | ||||||
| 5 | Act may borrow money for the purpose of building, equipping, | ||||||
| 6 | altering or repairing school buildings or purchasing or | ||||||
| 7 | improving school sites, or acquiring and equipping | ||||||
| 8 | playgrounds, recreation grounds, athletic fields, and other | ||||||
| 9 | buildings or land used or useful for school purposes or for the | ||||||
| 10 | purpose of purchasing a site, with or without a building or | ||||||
| 11 | buildings thereon, or for the building of a house or houses on | ||||||
| 12 | such site, or for the building of a house or houses on the | ||||||
| 13 | school site of the school district, for residential purposes | ||||||
| 14 | of the superintendent, principal, or teachers of the school | ||||||
| 15 | district, and issue its negotiable coupon bonds therefor | ||||||
| 16 | signed by the president and secretary of the board, in | ||||||
| 17 | denominations of not less than $100 nor more than $5,000, | ||||||
| 18 | payable at such place and at such time or times, not exceeding | ||||||
| 19 | 20 years, with the exception of Lockport High School and bonds | ||||||
| 20 | issued by any school district as qualified school construction | ||||||
| 21 | bonds in accordance with applicable federal tax law not | ||||||
| 22 | exceeding 25 years, from date of issuance, as the board of | ||||||
| 23 | education may prescribe, and bearing interest at a rate not to | ||||||
| 24 | exceed the maximum rate authorized by the Bond Authorization | ||||||
| 25 | Act, as amended at the time of the making of the contract, | ||||||
| 26 | payable annually, semiannually or quarterly, but no such bonds | ||||||
| |||||||
| |||||||
| 1 | shall be issued unless the proposition to issue them is | ||||||
| 2 | submitted to the voters of the district at a referendum held at | ||||||
| 3 | a general regularly scheduled election after the board has | ||||||
| 4 | certified the proposition to the proper election authorities | ||||||
| 5 | in accordance with the general election law, a majority of all | ||||||
| 6 | the votes cast on the proposition is in favor of the | ||||||
| 7 | proposition, and notice of such bond referendum has been given | ||||||
| 8 | either (i) in accordance with the second paragraph of Section | ||||||
| 9 | 12-1 of the Election Code irrespective of whether such notice | ||||||
| 10 | included any reference to the public question as it appeared | ||||||
| 11 | on the ballot, or (ii) for an election held on or after | ||||||
| 12 | November 1, 1998, in accordance with Section 12-5 of the | ||||||
| 13 | Election Code, or (iii) by publication of a true and legible | ||||||
| 14 | copy of the specimen ballot label containing the proposition | ||||||
| 15 | in the form in which it appeared or will appear on the official | ||||||
| 16 | ballot label on the day of the election at least 5 days before | ||||||
| 17 | the day of the election in at least one newspaper published in | ||||||
| 18 | and having a general circulation in the district, irrespective | ||||||
| 19 | of any other requirements of Article 12 or Section 24A-18 of | ||||||
| 20 | the Election Code, nor shall any residential site be acquired | ||||||
| 21 | unless such proposition to acquire a site is submitted to the | ||||||
| 22 | voters of the district at a referendum held at a general | ||||||
| 23 | regularly scheduled election after the board has certified the | ||||||
| 24 | proposition to the proper election authorities in accordance | ||||||
| 25 | with the general election law and a majority of all the votes | ||||||
| 26 | cast on the proposition is in favor of the proposition. | ||||||
| |||||||
| |||||||
| 1 | Nothing in this Act or in any other law shall be construed to | ||||||
| 2 | require the notice of the bond referendum to be published over | ||||||
| 3 | the name or title of the election authority or the listing of | ||||||
| 4 | maturity dates of any bonds either in the notice of bond | ||||||
| 5 | election or ballot used in the bond election. The provisions | ||||||
| 6 | of this Section concerning notice of the bond referendum apply | ||||||
| 7 | only to (i) consolidated primary elections held prior to | ||||||
| 8 | January 1, 2002 and the consolidated election held on April | ||||||
| 9 | 17, 2007 at which not less than 60% of the voters voting on the | ||||||
| 10 | bond proposition voted in favor of the bond proposition, and | ||||||
| 11 | (ii) other elections held before July 1, 1999; otherwise, | ||||||
| 12 | notices required in connection with the submission of public | ||||||
| 13 | questions shall be as set forth in Section 12-5 of the Election | ||||||
| 14 | Code. Such proposition may be initiated by resolution of the | ||||||
| 15 | school board. | ||||||
| 16 | With respect to instruments for the payment of money | ||||||
| 17 | issued under this Section either before, on, or after the | ||||||
| 18 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 19 | has been the intention of the General Assembly (i) that the | ||||||
| 20 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 21 | grants of power to issue instruments in accordance with the | ||||||
| 22 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 23 | that may appear to be or to have been more restrictive than | ||||||
| 24 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 25 | limitation on the supplementary authority granted by the | ||||||
| 26 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| |||||||
| |||||||
| 1 | this Section within the supplementary authority granted by the | ||||||
| 2 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 3 | this Act that may appear to be or to have been more restrictive | ||||||
| 4 | than those Acts. | ||||||
| 5 | The proceeds of any bonds issued under authority of this | ||||||
| 6 | Section shall be deposited and accounted for separately within | ||||||
| 7 | the Site and Construction/Capital Improvements Fund. | ||||||
| 8 | (Source: P.A. 99-735, eff. 8-5-16.) | ||||||
| 9 | (105 ILCS 5/19-9) (from Ch. 122, par. 19-9) | ||||||
| 10 | Sec. 19-9. Resolution to issue bonds - Submission to | ||||||
| 11 | voters. Before any district as described in Section 19-8 shall | ||||||
| 12 | avail itself of the provisions of that section the governing | ||||||
| 13 | body thereof shall examine and consider the several teachers' | ||||||
| 14 | orders or claims or liabilities of a Financial Oversight Panel | ||||||
| 15 | established pursuant to Article 1H of this Code, or any or all | ||||||
| 16 | of these, proposed to be paid and if it appears that they were | ||||||
| 17 | authorized and allowed for proper school purposes it shall | ||||||
| 18 | adopt a resolution so declaring and set forth and describe in | ||||||
| 19 | detail such teachers' orders and claims and liabilities of a | ||||||
| 20 | Financial Oversight Panel established pursuant to Article 1H | ||||||
| 21 | of this Code and the adoption of the resolution shall | ||||||
| 22 | establish the validity thereof, notwithstanding the amount of | ||||||
| 23 | such orders and claims and liabilities of a Financial | ||||||
| 24 | Oversight Panel established pursuant to Article 1H of this | ||||||
| 25 | Code may exceed in whole or in part any applicable statutory | ||||||
| |||||||
| |||||||
| 1 | debt limit in force at the time the indebtedness evidenced by | ||||||
| 2 | such orders and claims and liabilities of a Financial | ||||||
| 3 | Oversight Panel established pursuant to Article 1H of this | ||||||
| 4 | Code was incurred. The resolution shall also declare the | ||||||
| 5 | intention of the district to issue bonds for the purpose of | ||||||
| 6 | paying such teachers' orders or claims or liabilities of a | ||||||
| 7 | Financial Oversight Panel established pursuant to Article 1H | ||||||
| 8 | of this Code, and direct that notice of such intention be | ||||||
| 9 | published at least once in a newspaper published within the | ||||||
| 10 | district and if there be no newspaper published within the | ||||||
| 11 | district then notice shall be published in a newspaper having | ||||||
| 12 | general circulation within the district. The notice shall set | ||||||
| 13 | forth (1) the time within which a petition may be filed | ||||||
| 14 | requesting the submission of the proposition to issue the | ||||||
| 15 | bonds as hereinafter in this Section provided; (2) the | ||||||
| 16 | specific number of voters required to sign the petition; and | ||||||
| 17 | (3) the date of the prospective referendum. The recording | ||||||
| 18 | officer of the district shall provide a petition form to any | ||||||
| 19 | individual requesting one. If within 30 days after such | ||||||
| 20 | publication of such notice a petition is filed with the | ||||||
| 21 | recording officer of the district, signed by the voters of the | ||||||
| 22 | district equal to 10% or more of the registered voters of the | ||||||
| 23 | district requesting that the proposition to issue bonds as | ||||||
| 24 | authorized by Section 19-8 be submitted to the voters thereof, | ||||||
| 25 | then the district shall not be authorized to issue bonds as | ||||||
| 26 | provided by Section 19-8 until the proposition has been | ||||||
| |||||||
| |||||||
| 1 | submitted to and approved by a majority of the voters voting on | ||||||
| 2 | the proposition at a general regular scheduled election. The | ||||||
| 3 | board shall certify the proposition to the proper election | ||||||
| 4 | authorities for submission in accordance with the general | ||||||
| 5 | election law. If no such petition with the requisite number of | ||||||
| 6 | signatures is filed within said 30 days, or if any and all | ||||||
| 7 | petitions filed are invalid, then the district shall | ||||||
| 8 | thereafter be authorized to issue bonds for the purposes and | ||||||
| 9 | as provided in Section 19-8. | ||||||
| 10 | (Source: P.A. 97-429, eff. 8-16-11.) | ||||||
| 11 | (105 ILCS 5/20-7) (from Ch. 122, par. 20-7) | ||||||
| 12 | Sec. 20-7. Resolution for issuance of bonds - Submission | ||||||
| 13 | to voters - Ballot. No school district may issue bonds under | ||||||
| 14 | this Article unless it adopts a resolution declaring its | ||||||
| 15 | intention to issue bonds for the purpose therein provided and | ||||||
| 16 | directs that notice of such intention be published at least | ||||||
| 17 | once in a newspaper published and having a general circulation | ||||||
| 18 | in the district, if there be one, but if there is no newspaper | ||||||
| 19 | published in such district then by publishing such notice in a | ||||||
| 20 | newspaper having a general circulation in the district. The | ||||||
| 21 | notice shall set forth (1) the intention of the district to | ||||||
| 22 | issue bonds in accordance with this Article; (2) the time | ||||||
| 23 | within which a petition may be filed requesting the submission | ||||||
| 24 | of the proposition to issue the bonds; (3) the specific number | ||||||
| 25 | of voters required to sign the petition; and (4) the date of | ||||||
| |||||||
| |||||||
| 1 | the prospective referendum. At the time of publication of the | ||||||
| 2 | notice and for 30 days thereafter, the recording officer of | ||||||
| 3 | the district shall provide a petition form to any individual | ||||||
| 4 | requesting one. If within 30 days after the publication a | ||||||
| 5 | petition is filed with the recording officer of the district, | ||||||
| 6 | signed by the voters of the district equal to 10% or more of | ||||||
| 7 | the registered voters of the district requesting that the | ||||||
| 8 | proposition to issue bonds as authorized by this Article be | ||||||
| 9 | submitted to the voters thereof, then the district shall not | ||||||
| 10 | be authorized to issue such bonds until the proposition has | ||||||
| 11 | been certified to the proper election authorities and has been | ||||||
| 12 | submitted to and approved by a majority of the voters voting on | ||||||
| 13 | the proposition at a general regular scheduled election in | ||||||
| 14 | accordance with the general election law. If no such petition | ||||||
| 15 | is so filed, or if any and all petitions filed are invalid, the | ||||||
| 16 | district may issue the bonds. In addition to the requirements | ||||||
| 17 | of the general election law the notice of the election shall | ||||||
| 18 | set forth the intention of the district to issue bonds under | ||||||
| 19 | this Article. The proposition shall be in substantially the | ||||||
| 20 | following form: | ||||||
| 21 | OFFICIAL BALLOT | ||||||
| 22 | ----------------------------------------------
| ||||||
| 23 | Shall the Board of ....
| ||||||
| 24 | of School District number .... YES
| ||||||
| 25 | County, Illinois, be authorized
| ||||||
| 26 | to issue bonds for a working --------------------------
| ||||||
| |||||||
| |||||||
| 1 | cash fund as provided for
| ||||||
| 2 | by Article 20 of the NO
| ||||||
| 3 | School Code?
| ||||||
| 4 | ------------------------------------------------------------- | ||||||
| 5 | (Source: P.A. 96-1277, eff. 7-26-10.) | ||||||
| 6 | (105 ILCS 5/32-5.6) (from Ch. 122, par. 32-5.6) | ||||||
| 7 | Sec. 32-5.6. Special charter districts with population | ||||||
| 8 | less than 500,000 - Authority to borrow money and issue bonds. | ||||||
| 9 | The corporate authorities of any special charter district | ||||||
| 10 | having a population of less than 500,000 governed by a special | ||||||
| 11 | charter, or special charter and general law, may borrow money | ||||||
| 12 | for the purpose of building schoolhouses, or repairing, | ||||||
| 13 | altering and building additions to any schoolhouse already | ||||||
| 14 | erected, or purchasing schoolhouse sites or purchasing grounds | ||||||
| 15 | adjoining any schoolhouse site, or separated therefrom only by | ||||||
| 16 | a public street or way, and shall also include the purchase of | ||||||
| 17 | school sites outside the boundaries of the school district and | ||||||
| 18 | building school buildings thereon as provided by Sections | ||||||
| 19 | 10-22.35 and 10-22.36 of this Act, and may issue its | ||||||
| 20 | negotiable coupon bonds therefor in such form and such | ||||||
| 21 | denominations, payable at such place and at such time or times | ||||||
| 22 | (not exceeding 20 years from date of issuance) and bearing | ||||||
| 23 | interest at such rate as the corporate authorities may by | ||||||
| 24 | resolution prescribe. The bonds shall be in denominations of | ||||||
| 25 | not less than $100 nor more than $5,000, and shall bear | ||||||
| |||||||
| |||||||
| 1 | interest at a rate not to exceed the maximum rate authorized by | ||||||
| 2 | the Bond Authorization Act, as amended at the time of the | ||||||
| 3 | making of the contract, if issued before January 1, 1972 and | ||||||
| 4 | not to exceed the maximum rate authorized by the Bond | ||||||
| 5 | Authorization Act, as amended at the time of the making of the | ||||||
| 6 | contract, if issued after January 1, 1972, payable | ||||||
| 7 | semi-annually. No money may be borrowed or bonds issued, | ||||||
| 8 | however, unless the proposition to borrow money and issue | ||||||
| 9 | bonds for the purpose or purposes and in the amount prescribed | ||||||
| 10 | in the resolution is certified to the proper election | ||||||
| 11 | authorities and submitted to the voters of the school district | ||||||
| 12 | at a general regular scheduled election in accordance with the | ||||||
| 13 | general election law, and the majority of all the votes cast on | ||||||
| 14 | the proposition is in favor thereof. The corporate authorities | ||||||
| 15 | may not incur any indebtedness under this Section, which | ||||||
| 16 | together with all other outstanding indebtedness, exceeds in | ||||||
| 17 | the aggregate the indebtedness limitation under Section 19-1 | ||||||
| 18 | of this Act that would be applicable if the district were not a | ||||||
| 19 | special charter district. | ||||||
| 20 | With respect to instruments for the payment of money | ||||||
| 21 | issued under this Section either before, on, or after the | ||||||
| 22 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 23 | has been the intention of the General Assembly (i) that the | ||||||
| 24 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 25 | grants of power to issue instruments in accordance with the | ||||||
| 26 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| |||||||
| |||||||
| 1 | that may appear to be or to have been more restrictive than | ||||||
| 2 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 3 | limitation on the supplementary authority granted by the | ||||||
| 4 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 5 | this Section within the supplementary authority granted by the | ||||||
| 6 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 7 | this Act that may appear to be or to have been more restrictive | ||||||
| 8 | than those Acts. | ||||||
| 9 | (Source: P.A. 86-4.) | ||||||
| 10 | (105 ILCS 5/34-22.1) (from Ch. 122, par. 34-22.1) | ||||||
| 11 | Sec. 34-22.1. Issuance of bonds. For the purpose of | ||||||
| 12 | erecting, purchasing, or otherwise acquiring buildings | ||||||
| 13 | suitable for school houses, erecting temporary school | ||||||
| 14 | structures, erecting additions to, repairing, rehabilitating | ||||||
| 15 | and replacing existing school buildings and temporary school | ||||||
| 16 | structures, and furnishing and equipping school buildings and | ||||||
| 17 | temporary school structures, and purchasing or otherwise | ||||||
| 18 | acquiring and improving sites for such purposes, the board, | ||||||
| 19 | with the consent of the city council expressed by ordinance, | ||||||
| 20 | may incur an indebtedness and issue bonds therefor in an | ||||||
| 21 | amount or amounts not to exceed in the aggregate $50,000,000. | ||||||
| 22 | Provided, however, that not more than 25% of the aggregate | ||||||
| 23 | amount of said bonds shall be issued in any calendar year. The | ||||||
| 24 | bonds shall bear interest at the rate of not more than the | ||||||
| 25 | maximum rate authorized by the Bond Authorization Act, as | ||||||
| |||||||
| |||||||
| 1 | amended at the time of the making of the contract, and shall | ||||||
| 2 | mature within not to exceed 20 years from their date, and may | ||||||
| 3 | be made callable on any interest payment date at par and | ||||||
| 4 | accrued interest, after notice has been given, at the time and | ||||||
| 5 | in the manner provided in the bond resolution. | ||||||
| 6 | These bonds shall not be issued until the question of | ||||||
| 7 | authorizing such bonds has been submitted to the electors of | ||||||
| 8 | the city constituting said school district at a general | ||||||
| 9 | regular scheduled election in accordance with the general | ||||||
| 10 | election law and approved by a majority of the electors voting | ||||||
| 11 | upon that question. | ||||||
| 12 | The board shall adopt a resolution providing for | ||||||
| 13 | submitting said question at such an election and certify the | ||||||
| 14 | resolution and the proposition to the proper election | ||||||
| 15 | authorities. In addition to the requirements of the general | ||||||
| 16 | election law the notice of the referendum shall contain the | ||||||
| 17 | amount of the bond issue, maximum rate of interest and purpose | ||||||
| 18 | for which issued. | ||||||
| 19 | This notice shall be published in accordance with the | ||||||
| 20 | general election law. | ||||||
| 21 | The proposition shall be in substantially the following | ||||||
| 22 | form: | ||||||
| 23 | --------------------------------------------------------
| ||||||
| 24 | Shall bonds in the amount of
| ||||||
| 25 | $..... be issued by the board of
| ||||||
| 26 | education of the City of.... for
| ||||||
| |||||||
| |||||||
| 1 | the purpose of erecting, purchasing,
| ||||||
| 2 | or otherwise acquiring buildings YES
| ||||||
| 3 | suitable for school houses, erecting
| ||||||
| 4 | temporary school structures,
| ||||||
| 5 | erecting additions to, repairing,
| ||||||
| 6 | rehabilitating and replacing existing -------------------
| ||||||
| 7 | school buildings and temporary
| ||||||
| 8 | school structures, and furnishing and
| ||||||
| 9 | equipping school buildings and
| ||||||
| 10 | temporary school structures, and NO
| ||||||
| 11 | purchasing or otherwise acquiring and
| ||||||
| 12 | improving sites for such purposes,
| ||||||
| 13 | bearing interest at the rate of not
| ||||||
| 14 | to exceed the maximum rate authorized
| ||||||
| 15 | by the Bond Authorization Act, as amended
| ||||||
| 16 | at the time of the making of the contract?
| ||||||
| 17 | ------------------------------------------------------------- | ||||||
| 18 | Whenever the board desires to issue bonds as herein | ||||||
| 19 | authorized, it shall adopt a resolution designating the | ||||||
| 20 | purpose for which the proceeds of the bonds are to be expended | ||||||
| 21 | and fixing the amount of the bonds proposed to be issued, the | ||||||
| 22 | maturity thereof, and optional provisions, if any, the rate of | ||||||
| 23 | interest thereon, and the amount of taxes to be levied | ||||||
| 24 | annually for the purpose of paying the interest upon and the | ||||||
| 25 | principal of such bonds. | ||||||
| 26 | Said bonds shall be issued in the corporate name of the | ||||||
| |||||||
| |||||||
| 1 | school district. They shall be signed by the president and | ||||||
| 2 | secretary of said board and countersigned by the mayor and the | ||||||
| 3 | comptroller (or city clerk if there be no comptroller) of the | ||||||
| 4 | city. They shall be sold upon such terms as may be approved by | ||||||
| 5 | the board by the city comptroller (or city clerk if there be no | ||||||
| 6 | comptroller) after advertisement for bids as ordered by and | ||||||
| 7 | under the direction of the board, and the proceeds thereof | ||||||
| 8 | shall be received by the city treasurer, as school treasurer, | ||||||
| 9 | and expended by the board for the purposes provided in the bond | ||||||
| 10 | resolution. | ||||||
| 11 | Before or at the time of issuing any bonds herein | ||||||
| 12 | authorized, the city council of such city, upon the demand and | ||||||
| 13 | under the direction of the board shall, by ordinance, provide | ||||||
| 14 | for the levy and collection of a direct annual tax upon all the | ||||||
| 15 | taxable property of such school district sufficient to pay and | ||||||
| 16 | discharge the principal thereof at maturity and to pay the | ||||||
| 17 | interest thereon as it falls due. Such tax shall be levied and | ||||||
| 18 | collected in like manner with the other taxes of such school | ||||||
| 19 | district and shall be in addition to and exclusive of the | ||||||
| 20 | maximum of all other taxes which such board or such city | ||||||
| 21 | council is now, or may hereafter be, authorized by law to levy | ||||||
| 22 | for any and all school purposes. Upon the filing in the office | ||||||
| 23 | of the county clerk of the county wherein such school district | ||||||
| 24 | is located of a duly certified copy of any such ordinance, it | ||||||
| 25 | shall be the duty of such county clerk to extend the tax | ||||||
| 26 | therein provided for, including an amount to cover loss and | ||||||
| |||||||
| |||||||
| 1 | cost of collecting said taxes and also deferred collections | ||||||
| 2 | thereof and abatements in the amounts of such taxes as | ||||||
| 3 | extended upon the collector's books. | ||||||
| 4 | With respect to instruments for the payment of money | ||||||
| 5 | issued under this Section either before, on, or after the | ||||||
| 6 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 7 | has been the intention of the General Assembly (i) that the | ||||||
| 8 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 9 | grants of power to issue instruments in accordance with the | ||||||
| 10 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 11 | that may appear to be or to have been more restrictive than | ||||||
| 12 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 13 | limitation on the supplementary authority granted by the | ||||||
| 14 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 15 | this Section within the supplementary authority granted by the | ||||||
| 16 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 17 | this Act that may appear to be or to have been more restrictive | ||||||
| 18 | than those Acts. | ||||||
| 19 | (Source: P.A. 86-4.) | ||||||
| 20 | (105 ILCS 5/34-22.2) (from Ch. 122, par. 34-22.2) | ||||||
| 21 | Sec. 34-22.2. Issuance of bonds. For the purpose of | ||||||
| 22 | erecting, purchasing, or otherwise acquiring buildings | ||||||
| 23 | suitable for school houses, erecting temporary school | ||||||
| 24 | structures, erecting additions to, repairing, rehabilitating | ||||||
| 25 | and replacing existing school buildings and temporary school | ||||||
| |||||||
| |||||||
| 1 | structures, and furnishing and equipping school buildings and | ||||||
| 2 | temporary school structures, and purchasing or otherwise | ||||||
| 3 | acquiring and improving sites for such purposes, the board, | ||||||
| 4 | with the consent of the city council expressed by ordinance, | ||||||
| 5 | may incur an indebtedness and issue bonds therefor in an | ||||||
| 6 | amount or amounts not to exceed in the aggregate $50,000,000 | ||||||
| 7 | in addition to the bonds authorized under Section 34-22.1. The | ||||||
| 8 | bonds shall bear interest at the rate of not more than the | ||||||
| 9 | maximum rate authorized by the Bond Authorization Act, as | ||||||
| 10 | amended at the time of the making of the contract, and shall | ||||||
| 11 | mature within not to exceed 20 years from their date, and may | ||||||
| 12 | be made callable on any interest payment date at par and | ||||||
| 13 | accrued interest, after notice has been given, at the time and | ||||||
| 14 | in the manner provided in the bond resolution. | ||||||
| 15 | These bonds shall not be issued until the question of | ||||||
| 16 | authorizing such bonds has been submitted to the electors of | ||||||
| 17 | the city constituting said school district at a general | ||||||
| 18 | regular scheduled election and approved by a majority of the | ||||||
| 19 | electors voting upon that question. The board shall adopt a | ||||||
| 20 | resolution providing for submitting said proposition at such | ||||||
| 21 | an election and certify the resolution and proposition to the | ||||||
| 22 | proper election authorities for submission to the electors in | ||||||
| 23 | accordance with the general election law. In addition to the | ||||||
| 24 | requirements of the general election law the notice of the | ||||||
| 25 | referendum shall contain the amount of the bond issue, maximum | ||||||
| 26 | rate of interest and purpose for which issued. | ||||||
| |||||||
| |||||||
| 1 | The proposition shall be in substantially the following | ||||||
| 2 | form: | ||||||
| 3 | --------------------------------------------------------
| ||||||
| 4 | Shall bonds in the amount of
| ||||||
| 5 | $..... be issued by the board of
| ||||||
| 6 | education of the City of.... for the
| ||||||
| 7 | purpose of erecting, purchasing,
| ||||||
| 8 | or otherwise acquiring buildings YES
| ||||||
| 9 | suitable for school houses, erecting
| ||||||
| 10 | temporary school structures,
| ||||||
| 11 | erecting additions to, repairing,
| ||||||
| 12 | rehabilitating and replacing existing -----------------
| ||||||
| 13 | school buildings and temporary
| ||||||
| 14 | school structures, and furnishing and
| ||||||
| 15 | equipping school buildings and
| ||||||
| 16 | temporary school structures, and NO
| ||||||
| 17 | purchasing or otherwise acquiring and
| ||||||
| 18 | improving sites for such purposes,
| ||||||
| 19 | bearing interest at the rate of not
| ||||||
| 20 | to exceed the maximum rate authorized
| ||||||
| 21 | by the Bond Authorization Act, as amended
| ||||||
| 22 | at the time of the making of the contract?
| ||||||
| 23 | ------------------------------------------------------------- | ||||||
| 24 | Whenever the board desires to issue bonds as herein | ||||||
| 25 | authorized, it shall adopt a resolution designating the | ||||||
| 26 | purpose for which the proceeds of the bonds are to be expended | ||||||
| |||||||
| |||||||
| 1 | and fixing the amount of the bonds proposed to be issued, the | ||||||
| 2 | maturity thereof, and optional provisions, if any, the rate of | ||||||
| 3 | interest thereon, and the amount of taxes to be levied | ||||||
| 4 | annually for the purpose of paying the interest upon and the | ||||||
| 5 | principal of such bonds. | ||||||
| 6 | Said bonds shall be issued in the corporate name of the | ||||||
| 7 | school district. They shall be signed by the president and | ||||||
| 8 | secretary of said board and countersigned by the mayor and the | ||||||
| 9 | comptroller (or city clerk if there be no comptroller) of the | ||||||
| 10 | city. They shall be sold by the city comptroller (or city clerk | ||||||
| 11 | if there be no comptroller) upon such terms as may be approved | ||||||
| 12 | by the board after advertisement for bids as ordered by and | ||||||
| 13 | under the direction of the board, and the proceeds thereof | ||||||
| 14 | shall be received by the city treasurer, as school treasurer, | ||||||
| 15 | and expended by the board for the purposes provided in the bond | ||||||
| 16 | resolution. | ||||||
| 17 | Before or at the time of issuing any bonds herein | ||||||
| 18 | authorized, the city council of such city, upon the demand and | ||||||
| 19 | under the direction of the board shall, by ordinance, provide | ||||||
| 20 | for the levy and collection of a direct annual tax upon all the | ||||||
| 21 | taxable property of such school district sufficient to pay and | ||||||
| 22 | discharge the principal thereof at maturity and to pay the | ||||||
| 23 | interest thereon as it falls due. Such tax shall be levied and | ||||||
| 24 | collected in like manner with the other taxes of such school | ||||||
| 25 | district and shall be in addition to and an exclusive of the | ||||||
| 26 | maximum of all other taxes which such board or such city | ||||||
| |||||||
| |||||||
| 1 | council is now, or may hereafter be, authorized by law to levy | ||||||
| 2 | for any and all school purposes. Upon the filing in the office | ||||||
| 3 | of the county clerk of the county wherein such school district | ||||||
| 4 | is located of a duly certified copy of any such ordinance, it | ||||||
| 5 | shall be the duty of such county clerk to extend the tax | ||||||
| 6 | therein provided for, including an amount to cover loss and | ||||||
| 7 | cost of collecting said taxes and also deferred collections | ||||||
| 8 | thereof and abatements in the amounts of such taxes as | ||||||
| 9 | extended upon the collector's books. | ||||||
| 10 | With respect to instruments for the payment of money | ||||||
| 11 | issued under this Section either before, on, or after the | ||||||
| 12 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 13 | has been the intention of the General Assembly (i) that the | ||||||
| 14 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 15 | grants of power to issue instruments in accordance with the | ||||||
| 16 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 17 | that may appear to be or to have been more restrictive than | ||||||
| 18 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 19 | limitation on the supplementary authority granted by the | ||||||
| 20 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 21 | this Section within the supplementary authority granted by the | ||||||
| 22 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 23 | this Act that may appear to be or to have been more restrictive | ||||||
| 24 | than those Acts. | ||||||
| 25 | (Source: P.A. 86-4.) | ||||||
| |||||||
| |||||||
| 1 | (105 ILCS 5/34-22.3) (from Ch. 122, par. 34-22.3) | ||||||
| 2 | Sec. 34-22.3. Issuance of bonds. For the purpose of | ||||||
| 3 | erecting, purchasing, or otherwise acquiring buildings | ||||||
| 4 | suitable for school houses, erecting temporary school | ||||||
| 5 | structures, erecting additions to, repairing, rehabilitating | ||||||
| 6 | and replacing existing school buildings and temporary school | ||||||
| 7 | structures, and furnishing and equipping school buildings and | ||||||
| 8 | temporary school structures, and purchasing or otherwise | ||||||
| 9 | acquiring and improving sites for such purposes, the board, | ||||||
| 10 | with the consent of the city council expressed by ordinance, | ||||||
| 11 | may incur an indebtedness and issue bonds therefor in an | ||||||
| 12 | amount or amounts not to exceed in the aggregate $50,000,000 | ||||||
| 13 | in addition to the bonds authorized under Sections 34-22.1 and | ||||||
| 14 | 34-22.2. The bonds shall bear interest at the rate of not more | ||||||
| 15 | than the maximum rate authorized by the Bond Authorization | ||||||
| 16 | Act, as amended at the time of the making of the contract, and | ||||||
| 17 | shall mature within not to exceed 20 years from their date, and | ||||||
| 18 | may be made callable on any interest payment date at par and | ||||||
| 19 | accrued interest, after notice has been given, at the time and | ||||||
| 20 | in the manner provided in the bond resolution. | ||||||
| 21 | These bonds shall not be issued until the question of | ||||||
| 22 | authorizing such bonds has been submitted to the electors of | ||||||
| 23 | the city constituting said school district at a general | ||||||
| 24 | regular scheduled election and approved by a majority of the | ||||||
| 25 | electors voting upon that question. | ||||||
| 26 | The board shall adopt a resolution providing for | ||||||
| |||||||
| |||||||
| 1 | submitting said question at such an election and shall certify | ||||||
| 2 | the resolution and the proposition to the proper election | ||||||
| 3 | authorities for submission to the electors in accordance with | ||||||
| 4 | the general election law. In addition to the requirements of | ||||||
| 5 | the general election law the notice of the referendum shall | ||||||
| 6 | contain the amount of the bond issue, maximum rate of interest | ||||||
| 7 | and purpose for which issued. | ||||||
| 8 | The proposition shall be in substantially the following | ||||||
| 9 | form: | ||||||
| 10 | --------------------------------------------------------
| ||||||
| 11 | Shall bonds in the amount of
| ||||||
| 12 | $...... be issued by the board of
| ||||||
| 13 | education of the City of.... for
| ||||||
| 14 | the purpose of erecting, purchasing,
| ||||||
| 15 | or otherwise acquiring buildings YES
| ||||||
| 16 | suitable for school houses, erecting
| ||||||
| 17 | temporary school structures,
| ||||||
| 18 | erecting additions to, repairing,
| ||||||
| 19 | rehabilitating and replacing existing -------------------
| ||||||
| 20 | school buildings and temporary
| ||||||
| 21 | school structures, and furnishing and
| ||||||
| 22 | equipping school buildings and
| ||||||
| 23 | temporary school structures, and NO
| ||||||
| 24 | purchasing or otherwise acquiring and
| ||||||
| 25 | improving sites for such purposes,
| ||||||
| 26 | bearing interest at the rate of not
| ||||||
| |||||||
| |||||||
| 1 | to exceed the maximum rate authorized
| ||||||
| 2 | by the Bond Authorization Act, as amended
| ||||||
| 3 | at the time of the making of the contract?
| ||||||
| 4 | ------------------------------------------------------------- | ||||||
| 5 | Whenever the board desires to issue bonds as herein | ||||||
| 6 | authorized, it shall adopt a resolution designating the | ||||||
| 7 | purpose for which the proceeds of the bonds are to be expended | ||||||
| 8 | and fixing the amount of the bonds proposed to be issued, the | ||||||
| 9 | maturity thereof, and optional provisions, if any, the rate of | ||||||
| 10 | interest thereon, and the amount of taxes to be levied | ||||||
| 11 | annually for the purpose of paying the interest upon and the | ||||||
| 12 | principal of such bonds. | ||||||
| 13 | Said bonds shall be issued in the corporate name of the | ||||||
| 14 | school district. They shall be signed by the president and | ||||||
| 15 | secretary of said board and countersigned by the mayor and the | ||||||
| 16 | comptroller (or city clerk if there be no comptroller) of the | ||||||
| 17 | city. They shall be sold by the city comptroller (or city clerk | ||||||
| 18 | if there be no comptroller) upon such terms as may be approved | ||||||
| 19 | by the board after advertisement for bids as ordered by and | ||||||
| 20 | under the direction of the board, and the proceeds thereof | ||||||
| 21 | shall be received by the city treasurer, as school treasurer, | ||||||
| 22 | and expended by the board for the purposes provided in the bond | ||||||
| 23 | resolution. | ||||||
| 24 | Before or at the time of issuing any bonds herein | ||||||
| 25 | authorized, the city council of such city, upon the demand and | ||||||
| 26 | under the direction of the board shall, by ordinance, provide | ||||||
| |||||||
| |||||||
| 1 | for the levy and collection of a direct annual tax upon all the | ||||||
| 2 | taxable property of such school district sufficient to pay and | ||||||
| 3 | discharge the principal thereof at maturity and to pay the | ||||||
| 4 | interest thereon as it falls due. Such tax shall be levied and | ||||||
| 5 | collected in like manner with the other taxes of such school | ||||||
| 6 | district and shall be in addition to and exclusive of the | ||||||
| 7 | maximum of all other taxes which such board or such city | ||||||
| 8 | council is now, or may hereafter be, authorized by law to levy | ||||||
| 9 | for any and all school purposes. Upon the filing in the office | ||||||
| 10 | of the county clerk of the county wherein such school district | ||||||
| 11 | is located of a duly certified copy of any such ordinance, it | ||||||
| 12 | shall be the duty of such county clerk to extend the tax | ||||||
| 13 | therein provided for, including an amount to cover loss and | ||||||
| 14 | cost of collecting said taxes and also deferred collections | ||||||
| 15 | thereof and abatements in the amounts of such taxes as | ||||||
| 16 | extended upon the collector's books. | ||||||
| 17 | With respect to instruments for the payment of money | ||||||
| 18 | issued under this Section either before, on, or after the | ||||||
| 19 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 20 | has been the intention of the General Assembly (i) that the | ||||||
| 21 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 22 | grants of power to issue instruments in accordance with the | ||||||
| 23 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 24 | that may appear to be or to have been more restrictive than | ||||||
| 25 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 26 | limitation on the supplementary authority granted by the | ||||||
| |||||||
| |||||||
| 1 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 2 | this Section within the supplementary authority granted by the | ||||||
| 3 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 4 | this Act that may appear to be or to have been more restrictive | ||||||
| 5 | than those Acts. | ||||||
| 6 | (Source: P.A. 86-4.) | ||||||
| 7 | (105 ILCS 5/34-22.4) (from Ch. 122, par. 34-22.4) | ||||||
| 8 | Sec. 34-22.4. Issuance of bonds. For the purpose of | ||||||
| 9 | erecting, purchasing, or otherwise acquiring buildings | ||||||
| 10 | suitable for school houses, erecting temporary school | ||||||
| 11 | structures, erecting additions to, repairing, rehabilitating, | ||||||
| 12 | modernizing and replacing existing school buildings and | ||||||
| 13 | temporary school structures, and furnishing and equipping | ||||||
| 14 | school buildings and temporary school structures, and | ||||||
| 15 | purchasing or otherwise acquiring and improving sites for such | ||||||
| 16 | purposes, the board, with the consent of the city council | ||||||
| 17 | expressed by ordinance, may incur an indebtedness and issue | ||||||
| 18 | bonds therefor in an amount or amounts not to exceed in the | ||||||
| 19 | aggregate $50,000,000 in addition to the bonds authorized | ||||||
| 20 | under Sections 34-22.1, 34-22.2, and 34-22.3. The bonds shall | ||||||
| 21 | bear interest at the rate of not more than the maximum rate | ||||||
| 22 | authorized by the Bond Authorization Act, as amended at the | ||||||
| 23 | time of the making of the contract, and shall mature within not | ||||||
| 24 | to exceed 20 years from their date, and may be made callable on | ||||||
| 25 | any interest payment date at par and accrued interest, after | ||||||
| |||||||
| |||||||
| 1 | notice has been given, at the time and in the manner provided | ||||||
| 2 | in the bond resolution. | ||||||
| 3 | These bonds shall not be issued until the question of | ||||||
| 4 | authorizing such bonds has been submitted to the electors of | ||||||
| 5 | the city constituting said school district at a general | ||||||
| 6 | regular scheduled election and approved by a majority of the | ||||||
| 7 | electors voting upon that question. | ||||||
| 8 | The board shall adopt a resolution providing for | ||||||
| 9 | submitting said question at such an election and shall certify | ||||||
| 10 | the resolution and the proposition to the proper election | ||||||
| 11 | authorities for submission in accordance with the general | ||||||
| 12 | election law. In addition to the requirements of the general | ||||||
| 13 | election law the notice of the referendum shall contain the | ||||||
| 14 | amount of the bond issue, maximum rate of interest and purpose | ||||||
| 15 | for which issued. | ||||||
| 16 | The proposition shall be in substantially the following | ||||||
| 17 | form: | ||||||
| 18 | --------------------------------------------------------
| ||||||
| 19 | Shall bonds in the amount of
| ||||||
| 20 | $...... be issued by the board of
| ||||||
| 21 | education of the City of .... for
| ||||||
| 22 | the purpose of erecting, purchasing,
| ||||||
| 23 | or otherwise acquiring buildings YES
| ||||||
| 24 | suitable for school houses, erecting
| ||||||
| 25 | temporary school structures,
| ||||||
| 26 | erecting additions to, repairing,
| ||||||
| |||||||
| |||||||
| 1 | rehabilitating, modernizing and ------------------
| ||||||
| 2 | replacing existing school buildings
| ||||||
| 3 | and temporary school structures,
| ||||||
| 4 | and furnishing and equipping school
| ||||||
| 5 | buildings and temporary school NO
| ||||||
| 6 | structures, and purchasing or otherwise
| ||||||
| 7 | acquiring and improving sites for
| ||||||
| 8 | such purposes, bearing interest at the
| ||||||
| 9 | rate of not to exceed the maximum rate
| ||||||
| 10 | authorized by the Bond Authorization Act,
| ||||||
| 11 | as amended at the time of the making of
| ||||||
| 12 | the contract?
| ||||||
| 13 | ------------------------------------------------------------- | ||||||
| 14 | Whenever the board desires to issue bonds as herein | ||||||
| 15 | authorized, it shall adopt a resolution designating the | ||||||
| 16 | purpose for which the proceeds of the bonds are to be expended | ||||||
| 17 | and fixing the amount of the bonds proposed to be issued, the | ||||||
| 18 | maturity thereof, and optional provisions, if any, the rate of | ||||||
| 19 | interest thereon, and the amount of taxes to be levied | ||||||
| 20 | annually for the purpose of paying the interest upon and the | ||||||
| 21 | principal of such bonds. | ||||||
| 22 | Said bonds shall be issued in the corporate name of the | ||||||
| 23 | school district. They shall be signed by the president and | ||||||
| 24 | secretary of said board and countersigned by the mayor and the | ||||||
| 25 | comptroller (or city clerk if there be no comptroller) of the | ||||||
| 26 | city. They shall be sold by the city comptroller (or city clerk | ||||||
| |||||||
| |||||||
| 1 | if there be no comptroller) upon such terms as may be approved | ||||||
| 2 | by the board after advertisement for bids as ordered by and | ||||||
| 3 | under the direction of the board, and the proceeds thereof | ||||||
| 4 | shall be received by the city treasurer, as school treasurer, | ||||||
| 5 | and expended by the board for the purposes provided in the bond | ||||||
| 6 | resolution. | ||||||
| 7 | Before or at the time of issuing any bonds herein | ||||||
| 8 | authorized, the city council of such city, upon the demand and | ||||||
| 9 | under the direction of the board shall, by ordinance, provide | ||||||
| 10 | for the levy and collection of a direct annual tax upon all the | ||||||
| 11 | taxable property of such school district sufficient to pay and | ||||||
| 12 | discharge the principal thereof at maturity and to pay the | ||||||
| 13 | interest thereon as it falls due. Such tax shall be levied and | ||||||
| 14 | collected in like manner with the other taxes of such school | ||||||
| 15 | district and shall be in addition to and exclusive of the | ||||||
| 16 | maximum of all other taxes which such board or of such city | ||||||
| 17 | council is now, or may hereafter be, authorized by law to levy | ||||||
| 18 | for any and all school purposes. Upon the filing in the office | ||||||
| 19 | of the county clerk of the county wherein such school district | ||||||
| 20 | is located of a duly certified copy of any such ordinance, it | ||||||
| 21 | shall be the duty of such county clerk to extend the tax | ||||||
| 22 | therein provided for, including an amount to cover loss and | ||||||
| 23 | cost of collecting said taxes and also deferred collections | ||||||
| 24 | thereof and abatements in the amounts of such taxes as | ||||||
| 25 | extended upon the collector's books. The ordinance shall be in | ||||||
| 26 | force upon its passage. | ||||||
| |||||||
| |||||||
| 1 | With respect to instruments for the payment of money | ||||||
| 2 | issued under this Section either before, on, or after the | ||||||
| 3 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 4 | has been the intention of the General Assembly (i) that the | ||||||
| 5 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 6 | grants of power to issue instruments in accordance with the | ||||||
| 7 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 8 | that may appear to be or to have been more restrictive than | ||||||
| 9 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 10 | limitation on the supplementary authority granted by the | ||||||
| 11 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 12 | this Section within the supplementary authority granted by the | ||||||
| 13 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 14 | this Act that may appear to be or to have been more restrictive | ||||||
| 15 | than those Acts. | ||||||
| 16 | (Source: P.A. 86-4.) | ||||||
| 17 | (105 ILCS 5/34-22.5) (from Ch. 122, par. 34-22.5) | ||||||
| 18 | Sec. 34-22.5. Issuance of bonds. For the purpose of | ||||||
| 19 | erecting, purchasing, or otherwise acquiring buildings | ||||||
| 20 | suitable for school houses, erecting temporary school | ||||||
| 21 | structures, erecting additions to, repairing, rehabilitating, | ||||||
| 22 | modernizing and replacing existing school buildings and | ||||||
| 23 | temporary school structures, and furnishing and equipping | ||||||
| 24 | school buildings and temporary school structures, and | ||||||
| 25 | purchasing or otherwise acquiring and improving sites for such | ||||||
| |||||||
| |||||||
| 1 | purposes, the board, with the consent of the city council | ||||||
| 2 | expressed by ordinance, may incur an indebtedness and issue | ||||||
| 3 | bonds therefor in an amount or amounts not to exceed in the | ||||||
| 4 | aggregate Twenty-five Million Dollars ($25,000,000) in | ||||||
| 5 | addition to the bonds authorized under Sections 34-22.1, | ||||||
| 6 | 34-22.2, 34-22.3, and 34-22.4. The bonds shall bear interest | ||||||
| 7 | at the rate of not more than the maximum rate authorized by the | ||||||
| 8 | Bond Authorization Act, as amended at the time of the making of | ||||||
| 9 | the contract, and shall mature within not to exceed twenty | ||||||
| 10 | years from their date, and may be made callable on any interest | ||||||
| 11 | payment date at par and accrued interest, after notice has | ||||||
| 12 | been given, at the time and in the manner provided in the bond | ||||||
| 13 | resolution. | ||||||
| 14 | These bonds shall not be issued until the question of | ||||||
| 15 | authorizing such bonds has been submitted to the electors of | ||||||
| 16 | the city constituting said school district at a general | ||||||
| 17 | regular scheduled election and approved by a majority of the | ||||||
| 18 | electors voting upon that question. | ||||||
| 19 | The board shall adopt a resolution providing for | ||||||
| 20 | submitting said proposition at such an election and certify | ||||||
| 21 | the resolution and the proposition to the proper election | ||||||
| 22 | authorities for submission in accordance with the general | ||||||
| 23 | election law. In addition to the requirements of the general | ||||||
| 24 | election law the notice of the referendum shall contain the | ||||||
| 25 | amount of the bond issue, maximum rate of interest and purpose | ||||||
| 26 | for which issued. | ||||||
| |||||||
| |||||||
| 1 | The proposition shall be in substantially the following | ||||||
| 2 | form: | ||||||
| 3 | --------------------------------------------------------
| ||||||
| 4 | Shall bonds in the amount of
| ||||||
| 5 | $...... be issued by the board of
| ||||||
| 6 | education of the City of.... for
| ||||||
| 7 | the purpose of erecting, purchasing,
| ||||||
| 8 | or otherwise acquiring buildings YES
| ||||||
| 9 | suitable for school houses, erecting
| ||||||
| 10 | temporary school structures,
| ||||||
| 11 | erecting additions to, repairing,
| ||||||
| 12 | rehabilitating, modernizing and -----------------
| ||||||
| 13 | replacing existing school buildings
| ||||||
| 14 | and temporary school structures,
| ||||||
| 15 | and furnishing and equipping school
| ||||||
| 16 | buildings and temporary school NO
| ||||||
| 17 | structures, and purchasing or otherwise
| ||||||
| 18 | acquiring and improving sites for such
| ||||||
| 19 | purposes, bearing interest at the
| ||||||
| 20 | rate of not to exceed the maximum rate
| ||||||
| 21 | authorized by the Bond Authorization Act,
| ||||||
| 22 | as amended at the time of the making of
| ||||||
| 23 | the contract?
| ||||||
| 24 | ------------------------------------------------------------- | ||||||
| 25 | Whenever the board desires to issue bonds as herein | ||||||
| 26 | authorized, it shall adopt a resolution designating the | ||||||
| |||||||
| |||||||
| 1 | purpose for which the proceeds of the bonds are to be expended | ||||||
| 2 | and fixing the amount of the bonds proposed to be issued, the | ||||||
| 3 | maturity thereof, and optional provisions, if any, the rate of | ||||||
| 4 | interest thereon, and the amount of taxes to be levied | ||||||
| 5 | annually for the purpose of paying the interest upon and the | ||||||
| 6 | principal of such bonds. | ||||||
| 7 | Said bonds shall be issued in the corporate name of the | ||||||
| 8 | school district. They shall be signed by the president and | ||||||
| 9 | secretary of said board and countersigned by the mayor and the | ||||||
| 10 | comptroller (or city clerk if there be no comptroller) of the | ||||||
| 11 | city. They shall be sold by the city comptroller (or city clerk | ||||||
| 12 | if there be no comptroller) upon such terms as may be approved | ||||||
| 13 | by the board after advertisement for bids as ordered by and | ||||||
| 14 | under the direction of the board, and the proceeds thereof | ||||||
| 15 | shall be received by the city treasurer, as school treasurer, | ||||||
| 16 | and expended by the board for the purposes provided in the bond | ||||||
| 17 | resolution. | ||||||
| 18 | Before or at the time of issuing any bonds herein | ||||||
| 19 | authorized, the city council of such city, upon the demand and | ||||||
| 20 | under the direction of the board shall, by ordinance, provide | ||||||
| 21 | for the levy and collection of a direct annual tax upon all the | ||||||
| 22 | taxable property of such school district sufficient to pay and | ||||||
| 23 | discharge the principal thereof at maturity and to pay the | ||||||
| 24 | interest thereon as it falls due. Such tax shall be levied and | ||||||
| 25 | collected in like manner with the other taxes of such school | ||||||
| 26 | district and shall be in addition to and exclusive of the | ||||||
| |||||||
| |||||||
| 1 | maximum of all other taxes which such board or such city | ||||||
| 2 | council is now, or may hereafter be, authorized by law to levy | ||||||
| 3 | for any and all school purposes. Upon the filing in the office | ||||||
| 4 | of the county clerk of the county wherein such school district | ||||||
| 5 | is located of a duly certified copy of any such ordinance, it | ||||||
| 6 | shall be the duty of such county clerk to extend the tax | ||||||
| 7 | therein provided for, including an amount to cover loss and | ||||||
| 8 | cost of collecting said taxes and also deferred collections | ||||||
| 9 | thereof and abatements in the amounts of such taxes as | ||||||
| 10 | extended upon the collector's books. The ordinance shall be in | ||||||
| 11 | force upon its passage. | ||||||
| 12 | With respect to instruments for the payment of money | ||||||
| 13 | issued under this Section either before, on, or after the | ||||||
| 14 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 15 | has been the intention of the General Assembly (i) that the | ||||||
| 16 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 17 | grants of power to issue instruments in accordance with the | ||||||
| 18 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 19 | that may appear to be or to have been more restrictive than | ||||||
| 20 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 21 | limitation on the supplementary authority granted by the | ||||||
| 22 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 23 | this Section within the supplementary authority granted by the | ||||||
| 24 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 25 | this Act that may appear to be or to have been more restrictive | ||||||
| 26 | than those Acts. | ||||||
| |||||||
| |||||||
| 1 | (Source: P.A. 86-4.) | ||||||
| 2 | Section 65. The Public Community College Act is amended by | ||||||
| 3 | changing Section 3A-1 as follows: | ||||||
| 4 | (110 ILCS 805/3A-1) (from Ch. 122, par. 103A-1) | ||||||
| 5 | Sec. 3A-1. Any community college district may borrow money | ||||||
| 6 | for the purpose of building, equipping, altering or repairing | ||||||
| 7 | community college buildings or purchasing or improving | ||||||
| 8 | community college sites, or acquiring and equipping recreation | ||||||
| 9 | grounds, athletic fields, and other buildings or land used or | ||||||
| 10 | useful for community college purposes or for the purpose of | ||||||
| 11 | purchasing a site, with or without a building or buildings | ||||||
| 12 | thereon, or for the building of a house or houses on such site, | ||||||
| 13 | or for the building of a house or houses on the site of the | ||||||
| 14 | community college district, for residential purposes of the | ||||||
| 15 | administrators or faculty of the community college district, | ||||||
| 16 | and issue its negotiable coupon bonds therefor signed by the | ||||||
| 17 | chairman and secretary of the board, in denominations of not | ||||||
| 18 | less than $100 nor more than $5,000, payable at such place and | ||||||
| 19 | at such time or times, not exceeding 20 years from date of | ||||||
| 20 | issuance, as the board may prescribe, and bearing interest at | ||||||
| 21 | a rate not to exceed the maximum rate authorized by the Bond | ||||||
| 22 | Authorization Act, as amended at the time of the making of the | ||||||
| 23 | contract, payable annually, semiannually or quarterly, but no | ||||||
| 24 | such bonds shall be issued unless the proposition to issue | ||||||
| |||||||
| |||||||
| 1 | them is submitted to the voters of the community college | ||||||
| 2 | district at a general regular scheduled election in such | ||||||
| 3 | district and the board shall certify the proposition to the | ||||||
| 4 | proper election authorities for submission in accordance with | ||||||
| 5 | the general election law and a majority of all the votes cast | ||||||
| 6 | on the proposition is in favor of the proposition, nor shall | ||||||
| 7 | any residential site be acquired unless such proposition to | ||||||
| 8 | acquire a site is submitted to the voters of the district at a | ||||||
| 9 | general regular scheduled election and the board shall certify | ||||||
| 10 | the proposition to the proper election authorities for | ||||||
| 11 | submission to the electors in accordance with the general | ||||||
| 12 | election law and a majority of all the votes cast on the | ||||||
| 13 | proposition is in favor of the proposition. Nothing in this | ||||||
| 14 | Act shall be construed as to require the listing of maturity | ||||||
| 15 | dates of any bonds either in the notice of bond election or | ||||||
| 16 | ballot used in the bond election. | ||||||
| 17 | Bonds issued in accordance with this Section for Elgin | ||||||
| 18 | Community College District No. 509 may be payable at such time | ||||||
| 19 | or times, not exceeding 25 years from date of issuance, as the | ||||||
| 20 | board may prescribe, if the following conditions are met: | ||||||
| 21 | (i) The voters of the district approve a proposition | ||||||
| 22 | for the bond issuance at an election held in 2009. | ||||||
| 23 | (ii) Prior to the issuance of the bonds, the board | ||||||
| 24 | determines, by resolution, that the projects built, | ||||||
| 25 | acquired, altered, renovated, repaired, purchased, | ||||||
| 26 | improved, installed, or equipped with the proceeds of the | ||||||
| |||||||
| |||||||
| 1 | bonds are required as a result of a projected increase in | ||||||
| 2 | the enrollment of students in the district, to meet demand | ||||||
| 3 | in the fields of health care or public safety, to meet | ||||||
| 4 | accreditation standards, or to maintain campus safety and | ||||||
| 5 | security. | ||||||
| 6 | (iii) The bonds are issued, in one or more bond | ||||||
| 7 | issuances, on or before April 7, 2014. | ||||||
| 8 | (iv) The proceeds of the bonds are used to accomplish | ||||||
| 9 | only those purposes approved by the voters at an election | ||||||
| 10 | held in 2009. | ||||||
| 11 | Bonds issued in accordance with this Section for | ||||||
| 12 | Kishwaukee Community College District No. 523 may be payable | ||||||
| 13 | at such time or times, not exceeding 25 years from date of | ||||||
| 14 | issuance, as the board may prescribe, if the following | ||||||
| 15 | conditions are met: | ||||||
| 16 | (i) The voters of the district approve a | ||||||
| 17 | proposition for the bond issuance at an election held | ||||||
| 18 | in 2010 or 2011. | ||||||
| 19 | (ii) Prior to the issuance of the bonds, the board | ||||||
| 20 | determines, by resolution, that the projects built, | ||||||
| 21 | acquired, altered, renovated, repaired, purchased, | ||||||
| 22 | improved, installed, or equipped with the proceeds of | ||||||
| 23 | the bonds are required as a result of a projected | ||||||
| 24 | increase in the enrollment of students in the | ||||||
| 25 | district, to meet demand in the fields of health care | ||||||
| 26 | or public safety, to meet accreditation standards, or | ||||||
| |||||||
| |||||||
| 1 | to maintain campus safety and security. | ||||||
| 2 | (iii) The bonds are issued, in one or more bond | ||||||
| 3 | issuances, on or before November 2, 2015. | ||||||
| 4 | (iv) The proceeds of the bonds are used to | ||||||
| 5 | accomplish only those purposes approved by the voters | ||||||
| 6 | at an election held in 2010 or 2011. | ||||||
| 7 | With respect to instruments for the payment of money | ||||||
| 8 | issued under this Section either before, on, or after the | ||||||
| 9 | effective date of this amendatory Act of 1989, it is and always | ||||||
| 10 | has been the intention of the General Assembly (i) that the | ||||||
| 11 | Omnibus Bond Acts are and always have been supplementary | ||||||
| 12 | grants of power to issue instruments in accordance with the | ||||||
| 13 | Omnibus Bond Acts, regardless of any provision of this Act | ||||||
| 14 | that may appear to be or to have been more restrictive than | ||||||
| 15 | those Acts, (ii) that the provisions of this Section are not a | ||||||
| 16 | limitation on the supplementary authority granted by the | ||||||
| 17 | Omnibus Bond Acts, and (iii) that instruments issued under | ||||||
| 18 | this Section within the supplementary authority granted by the | ||||||
| 19 | Omnibus Bond Acts are not invalid because of any provision of | ||||||
| 20 | this Act that may appear to be or to have been more restrictive | ||||||
| 21 | than those Acts. | ||||||
| 22 | (Source: P.A. 96-787, eff. 8-28-09; 96-1077, eff. 7-16-10; | ||||||
| 23 | 97-813, eff. 7-13-12.) | ||||||
| 24 | Section 997. Severability. The provisions of this Act are | ||||||
| 25 | severable under Section 1.31 of the Statute on Statutes. | ||||||
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| 1 | Section 999. Effective date. This Act takes effect upon | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2 | becoming law. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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