Bill Text: IL SB3113 | 2013-2014 | 98th General Assembly | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, Milford Township High School District 233 may issue bonds with an aggregate principal amount not to exceed $17,500,000 if certain conditions are met, including that (1) the voters of the district approve a proposition for the bond issuance at an election held on or after November 4, 2014 and (2) prior to the issuance of the bonds, the school board determines, by resolution, that the building and equipping of a new school building is required as a result of the age and condition of an existing school building and the issuance of bonds is authorized by a statute that exempts the debt incurred on the bonds from the district's statutory debt limitation. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation. Requires the bonds to mature within not to exceed 25 years from their date. Effective immediately.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Passed) 2014-08-26 - Public Act . . . . . . . . . 98-1112 [SB3113 Detail]

Download: Illinois-2013-SB3113-Amended.html

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Rep. Donald L. Moffitt

Filed: 5/13/2014

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AMENDMENT TO SENATE BILL 3113
AMENDMENT NO. ______. Amend Senate Bill 3113, AS AMENDED,
with reference to page and line numbers of House Amendment No.
1, as follows:
on page 1, line 4, by replacing "Section" with "Sections
11E-105 and"; and
on page 1, immediately below line 5, by inserting the
following:
"(105 ILCS 5/11E-105)
Sec. 11E-105. Assets, liabilities and bonded indebtedness;
tax rate.
(a) Subject to the terms and provisions of subsections (b)
and (c) of this Section, whenever a new district is created
under any of the provisions of this Article, the outstanding
bonded indebtedness shall be treated as provided in this

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subsection (a) and in Section 19-29 of this Code. The tax rate
for bonded indebtedness shall be determined in the manner
provided in Section 19-7 of this Code, and, notwithstanding the
creation of any such district, the county clerk or clerks shall
annually extend taxes, for each outstanding bond issue against
all of the taxable property that was situated within the
boundaries of the district, as those boundaries existed at the
time of the issuance of the bond issue, regardless of whether
the property is still contained in that same district at the
time of the extension of the taxes by the county clerk or
clerks; provided that, notwithstanding the provisions of
Section 19-18 of this Code, upon resolution of the school
board, the county clerk must extend taxes to pay the principal
of and interest on any general obligation bonds issued by the
new district exclusively to refund or continue to refund any
bonded indebtedness of a district organized into the new
district against all of the taxable property that was situated
within the boundaries of the previously existing district as
the boundaries existed at the time of the issuance of the
initial bonded indebtedness being or continuing to be refunded.
The terms of this proviso are applicable to districts that were
created pursuant to a referendum held in November of 2008.
(b) For a unit district formation, whenever a part of a
district is included within the boundaries of a newly created
unit district, the regional superintendent of schools shall
cause an accounting to be had between the districts affected by

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the change in boundaries as provided for in Article 11C of this
Code. Whenever the entire territory of 2 or more school
districts is organized into a unit district pursuant to a
petition filed under this Article, the petition may provide
that the entire territory of the new unit district shall assume
the bonded indebtedness of the previously existing school
districts. In that case, the tax rate for bonded indebtedness
shall be determined in the manner provided in Section 19-7 of
this Code, except that the county clerk shall annually extend
taxes for each outstanding bond issue against all the taxable
property situated in the new unit district as it exists after
the organization.
(c)(1) For a high school-unit conversion, unit to dual
conversion, or multi-unit conversion, upon the effective date
of the change as provided in Section 11E-70 of this Code and
subject to the provisions of paragraph (2) of this subsection
(c), each newly created elementary district shall receive all
of the assets and assume all of the liabilities and obligations
of the dissolved unit district forming the boundary of the
newly created elementary district.
(2) Notwithstanding the provisions of paragraph (1) of this
subsection (c), upon the stipulation of the school board of the
school district serving a newly created elementary district for
high school purposes and either (i) the school board of the
unit district prior to the effective date of its dissolution or
(ii) thereafter the school board of the newly created

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elementary district and with the approval in either case of the
regional superintendent of schools of the educational service
region in which the territory described in the petition filed
under this Article or the greater percentage of equalized
assessed valuation of the territory is situated, the assets,
liabilities, and obligations of the dissolved unit district may
be divided and assumed between and by the newly created
elementary district and the school district serving the newly
created elementary district for high school purposes, in
accordance with the terms and provisions of the stipulation and
approval. In this event, the provisions of Section 19-29 shall
be applied to determine the debt incurring power of the newly
created elementary district and of the school district serving
the newly created elementary district for high school purposes.
(3) Without regard to whether the receipt of assets and the
assumption of liabilities and obligations of the dissolved unit
district is determined pursuant to paragraph (1) or (2) of this
subsection (c), the tax rate for bonded indebtedness shall be
determined in the manner provided in Section 19-7, and,
notwithstanding the creation of this new elementary district,
the county clerk or clerks shall annually extend taxes for each
outstanding bond issue against all of the taxable property that
was situated within the boundaries of the dissolved unit
district as those boundaries existed at the time of the
issuance of the bond issue, regardless of whether the property
was still contained in that unit district at the time of its

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dissolution and regardless of whether the property is contained
in the newly created elementary district at the time of the
extension of the taxes by the county clerk or clerks.
(Source: P.A. 94-1019, eff. 7-10-06.)".