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Public Act 103-0978
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SB3348 Enrolled | LRB103 37891 RJT 68022 b |
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AN ACT concerning education.
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Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
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Section 5. The School Code is amended by changing Section |
19-1 as follows:
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(105 ILCS 5/19-1) |
Sec. 19-1. Debt limitations of school districts. |
(a) School districts shall not be subject to the |
provisions limiting their indebtedness prescribed in the Local |
Government Debt Limitation Act. |
No school districts maintaining grades K through 8 or 9 |
through 12 shall become indebted in any manner or for any |
purpose to an amount, including existing indebtedness, in the |
aggregate exceeding 6.9% on the value of the taxable property |
therein to be ascertained by the last assessment for State and |
county taxes or, until January 1, 1983, if greater, the sum |
that is produced by multiplying the school district's 1978 |
equalized assessed valuation by the debt limitation percentage |
in effect on January 1, 1979, previous to the incurring of such |
indebtedness. |
No school districts maintaining grades K through 12 shall |
become indebted in any manner or for any purpose to an amount, |
including existing indebtedness, in the aggregate exceeding |
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13.8% on the value of the taxable property therein to be |
ascertained by the last assessment for State and county taxes |
or, until January 1, 1983, if greater, the sum that is produced |
by multiplying the school district's 1978 equalized assessed |
valuation by the debt limitation percentage in effect on |
January 1, 1979, previous to the incurring of such |
indebtedness. |
No partial elementary unit district, as defined in Article |
11E of this Code, shall become indebted in any manner or for |
any purpose in an amount, including existing indebtedness, in |
the aggregate exceeding 6.9% of the value of the taxable |
property of the entire district, to be ascertained by the last |
assessment for State and county taxes, plus an amount, |
including existing indebtedness, in the aggregate exceeding |
6.9% of the value of the taxable property of that portion of |
the district included in the elementary and high school |
classification, to be ascertained by the last assessment for |
State and county taxes. Moreover, no partial elementary unit |
district, as defined in Article 11E of this Code, shall become |
indebted on account of bonds issued by the district for high |
school purposes in the aggregate exceeding 6.9% of the value |
of the taxable property of the entire district, to be |
ascertained by the last assessment for State and county taxes, |
nor shall the district become indebted on account of bonds |
issued by the district for elementary purposes in the |
aggregate exceeding 6.9% of the value of the taxable property |
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for that portion of the district included in the elementary |
and high school classification, to be ascertained by the last |
assessment for State and county taxes. |
Notwithstanding the provisions of any other law to the |
contrary, in any case in which the voters of a school district |
have approved a proposition for the issuance of bonds of such |
school district at an election held prior to January 1, 1979, |
and all of the bonds approved at such election have not been |
issued, the debt limitation applicable to such school district |
during the calendar year 1979 shall be computed by multiplying |
the value of taxable property therein, including personal |
property, as ascertained by the last assessment for State and |
county taxes, previous to the incurring of such indebtedness, |
by the percentage limitation applicable to such school |
district under the provisions of this subsection (a). |
(a-5) After January 1, 2018, no school district may issue |
bonds under Sections 19-2 through 19-7 of this Code and rely on |
an exception to the debt limitations in this Section unless it |
has complied with the requirements of Section 21 of the Bond |
Issue Notification Act and the bonds have been approved by |
referendum. |
(b) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section, additional indebtedness may be |
incurred in an amount not to exceed the estimated cost of |
acquiring or improving school sites or constructing and |
equipping additional building facilities under the following |
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conditions: |
(1) Whenever the enrollment of students for the next |
school year is estimated by the board of education to |
increase over the actual present enrollment by not less |
than 35% or by not less than 200 students or the actual |
present enrollment of students has increased over the |
previous school year by not less than 35% or by not less |
than 200 students and the board of education determines |
that additional school sites or building facilities are |
required as a result of such increase in enrollment; and |
(2) When the Regional Superintendent of Schools having |
jurisdiction over the school district and the State |
Superintendent of Education concur in such enrollment |
projection or increase and approve the need for such |
additional school sites or building facilities and the |
estimated cost thereof; and |
(3) When the voters in the school district approve a |
proposition for the issuance of bonds for the purpose of |
acquiring or improving such needed school sites or |
constructing and equipping such needed additional building |
facilities at an election called and held for that |
purpose. Notice of such an election shall state that the |
amount of indebtedness proposed to be incurred would |
exceed the debt limitation otherwise applicable to the |
school district. The ballot for such proposition shall |
state what percentage of the equalized assessed valuation |
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will be outstanding in bonds if the proposed issuance of |
bonds is approved by the voters; or |
(4) Notwithstanding the provisions of paragraphs (1) |
through (3) of this subsection (b), if the school board |
determines that additional facilities are needed to |
provide a quality educational program and not less than |
2/3 of those voting in an election called by the school |
board on the question approve the issuance of bonds for |
the construction of such facilities, the school district |
may issue bonds for this purpose; or |
(5) Notwithstanding the provisions of paragraphs (1) |
through (3) of this subsection (b), if (i) the school |
district has previously availed itself of the provisions |
of paragraph (4) of this subsection (b) to enable it to |
issue bonds, (ii) the voters of the school district have |
not defeated a proposition for the issuance of bonds since |
the referendum described in paragraph (4) of this |
subsection (b) was held, (iii) the school board determines |
that additional facilities are needed to provide a quality |
educational program, and (iv) a majority of those voting |
in an election called by the school board on the question |
approve the issuance of bonds for the construction of such |
facilities, the school district may issue bonds for this |
purpose. |
In no event shall the indebtedness incurred pursuant to |
this subsection (b) and the existing indebtedness of the |
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school district exceed 15% of the value of the taxable |
property therein to be ascertained by the last assessment for |
State and county taxes, previous to the incurring of such |
indebtedness or, until January 1, 1983, if greater, the sum |
that is produced by multiplying the school district's 1978 |
equalized assessed valuation by the debt limitation percentage |
in effect on January 1, 1979. |
The indebtedness provided for by this subsection (b) shall |
be in addition to and in excess of any other debt limitation. |
(c) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section, in any case in which a public |
question for the issuance of bonds of a proposed school |
district maintaining grades kindergarten through 12 received |
at least 60% of the valid ballots cast on the question at an |
election held on or prior to November 8, 1994, and in which the |
bonds approved at such election have not been issued, the |
school district pursuant to the requirements of Section 11A-10 |
(now repealed) may issue the total amount of bonds approved at |
such election for the purpose stated in the question. |
(d) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section, a school district that meets |
all the criteria set forth in paragraphs (1) and (2) of this |
subsection (d) may incur an additional indebtedness in an |
amount not to exceed $4,500,000, even though the amount of the |
additional indebtedness authorized by this subsection (d), |
when incurred and added to the aggregate amount of |
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indebtedness of the district existing immediately prior to the |
district incurring the additional indebtedness authorized by |
this subsection (d), causes the aggregate indebtedness of the |
district to exceed the debt limitation otherwise applicable to |
that district under subsection (a): |
(1) The additional indebtedness authorized by this |
subsection (d) is incurred by the school district through |
the issuance of bonds under and in accordance with Section |
17-2.11a for the purpose of replacing a school building |
which, because of mine subsidence damage, has been closed |
as provided in paragraph (2) of this subsection (d) or |
through the issuance of bonds under and in accordance with |
Section 19-3 for the purpose of increasing the size of, or |
providing for additional functions in, such replacement |
school buildings, or both such purposes. |
(2) The bonds issued by the school district as |
provided in paragraph (1) above are issued for the |
purposes of construction by the school district of a new |
school building pursuant to Section 17-2.11, to replace an |
existing school building that, because of mine subsidence |
damage, is closed as of the end of the 1992-93 school year |
pursuant to action of the regional superintendent of |
schools of the educational service region in which the |
district is located under Section 3-14.22 or are issued |
for the purpose of increasing the size of, or providing |
for additional functions in, the new school building being |
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constructed to replace a school building closed as the |
result of mine subsidence damage, or both such purposes. |
(e) (Blank). |
(f) Notwithstanding the provisions of subsection (a) of |
this Section or of any other law, bonds in not to exceed the |
aggregate amount of $5,500,000 and issued by a school district |
meeting the following criteria shall not be considered |
indebtedness for purposes of any statutory limitation and may |
be issued in an amount or amounts, including existing |
indebtedness, in excess of any heretofore or hereafter imposed |
statutory limitation as to indebtedness: |
(1) At the time of the sale of such bonds, the board of |
education of the district shall have determined by |
resolution that the enrollment of students in the district |
is projected to increase by not less than 7% during each of |
the next succeeding 2 school years. |
(2) The board of education shall also determine by |
resolution that the improvements to be financed with the |
proceeds of the bonds are needed because of the projected |
enrollment increases. |
(3) The board of education shall also determine by |
resolution that the projected increases in enrollment are |
the result of improvements made or expected to be made to |
passenger rail facilities located in the school district. |
Notwithstanding the provisions of subsection (a) of this |
Section or of any other law, a school district that has availed |
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itself of the provisions of this subsection (f) prior to July |
22, 2004 (the effective date of Public Act 93-799) may also |
issue bonds approved by referendum up to an amount, including |
existing indebtedness, not exceeding 25% of the equalized |
assessed value of the taxable property in the district if all |
of the conditions set forth in items (1), (2), and (3) of this |
subsection (f) are met. |
(g) Notwithstanding the provisions of subsection (a) of |
this Section or any other law, bonds in not to exceed an |
aggregate amount of 25% of the equalized assessed value of the |
taxable property of a school district and issued by a school |
district meeting the criteria in paragraphs (i) through (iv) |
of this subsection shall not be considered indebtedness for |
purposes of any statutory limitation and may be issued |
pursuant to resolution of the school board in an amount or |
amounts, including existing indebtedness, in excess of any |
statutory limitation of indebtedness heretofore or hereafter |
imposed: |
(i) The bonds are issued for the purpose of |
constructing a new high school building to replace two |
adjacent existing buildings which together house a single |
high school, each of which is more than 65 years old, and |
which together are located on more than 10 acres and less |
than 11 acres of property. |
(ii) At the time the resolution authorizing the |
issuance of the bonds is adopted, the cost of constructing |
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a new school building to replace the existing school |
building is less than 60% of the cost of repairing the |
existing school building. |
(iii) The sale of the bonds occurs before July 1, |
1997. |
(iv) The school district issuing the bonds is a unit |
school district located in a county of less than 70,000 |
and more than 50,000 inhabitants, which has an average |
daily attendance of less than 1,500 and an equalized |
assessed valuation of less than $29,000,000. |
(h) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until January 1, 1998, a |
community unit school district maintaining grades K through 12 |
may issue bonds up to an amount, including existing |
indebtedness, not exceeding 27.6% of the equalized assessed |
value of the taxable property in the district, if all of the |
following conditions are met: |
(i) The school district has an equalized assessed |
valuation for calendar year 1995 of less than $24,000,000; |
(ii) The bonds are issued for the capital improvement, |
renovation, rehabilitation, or replacement of existing |
school buildings of the district, all of which buildings |
were originally constructed not less than 40 years ago; |
(iii) The voters of the district approve a proposition |
for the issuance of the bonds at a referendum held after |
March 19, 1996; and |
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(iv) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(i) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until January 1, 1998, a |
community unit school district maintaining grades K through 12 |
may issue bonds up to an amount, including existing |
indebtedness, not exceeding 27% of the equalized assessed |
value of the taxable property in the district, if all of the |
following conditions are met: |
(i) The school district has an equalized assessed |
valuation for calendar year 1995 of less than $44,600,000; |
(ii) The bonds are issued for the capital improvement, |
renovation, rehabilitation, or replacement of existing |
school buildings of the district, all of which existing |
buildings were originally constructed not less than 80 |
years ago; |
(iii) The voters of the district approve a proposition |
for the issuance of the bonds at a referendum held after |
December 31, 1996; and |
(iv) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(j) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until January 1, 1999, a |
community unit school district maintaining grades K through 12 |
may issue bonds up to an amount, including existing |
indebtedness, not exceeding 27% of the equalized assessed |
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value of the taxable property in the district if all of the |
following conditions are met: |
(i) The school district has an equalized assessed |
valuation for calendar year 1995 of less than $140,000,000 |
and a best 3 months average daily attendance for the |
1995-96 school year of at least 2,800; |
(ii) The bonds are issued to purchase a site and build |
and equip a new high school, and the school district's |
existing high school was originally constructed not less |
than 35 years prior to the sale of the bonds; |
(iii) At the time of the sale of the bonds, the board |
of education determines by resolution that a new high |
school is needed because of projected enrollment |
increases; |
(iv) At least 60% of those voting in an election held |
after December 31, 1996 approve a proposition for the |
issuance of the bonds; and |
(v) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(k) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section, a school district that meets |
all the criteria set forth in paragraphs (1) through (4) of |
this subsection (k) may issue bonds to incur an additional |
indebtedness in an amount not to exceed $4,000,000 even though |
the amount of the additional indebtedness authorized by this |
subsection (k), when incurred and added to the aggregate |
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amount of indebtedness of the school district existing |
immediately prior to the school district incurring such |
additional indebtedness, causes the aggregate indebtedness of |
the school district to exceed or increases the amount by which |
the aggregate indebtedness of the district already exceeds the |
debt limitation otherwise applicable to that school district |
under subsection (a): |
(1) the school district is located in 2 counties, and |
a referendum to authorize the additional indebtedness was |
approved by a majority of the voters of the school |
district voting on the proposition to authorize that |
indebtedness; |
(2) the additional indebtedness is for the purpose of |
financing a multi-purpose room addition to the existing |
high school; |
(3) the additional indebtedness, together with the |
existing indebtedness of the school district, shall not |
exceed 17.4% of the value of the taxable property in the |
school district, to be ascertained by the last assessment |
for State and county taxes; and |
(4) the bonds evidencing the additional indebtedness |
are issued, if at all, within 120 days of August 14, 1998 |
(the effective date of Public Act 90-757). |
(l) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until January 1, 2000, a |
school district maintaining grades kindergarten through 8 may |
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issue bonds up to an amount, including existing indebtedness, |
not exceeding 15% of the equalized assessed value of the |
taxable property in the district if all of the following |
conditions are met: |
(i) the district has an equalized assessed valuation |
for calendar year 1996 of less than $10,000,000; |
(ii) the bonds are issued for capital improvement, |
renovation, rehabilitation, or replacement of one or more |
school buildings of the district, which buildings were |
originally constructed not less than 70 years ago; |
(iii) the voters of the district approve a proposition |
for the issuance of the bonds at a referendum held on or |
after March 17, 1998; and |
(iv) the bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(m) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until January 1, 1999, an |
elementary school district maintaining grades K through 8 may |
issue bonds up to an amount, excluding existing indebtedness, |
not exceeding 18% of the equalized assessed value of the |
taxable property in the district, if all of the following |
conditions are met: |
(i) The school district has an equalized assessed |
valuation for calendar year 1995 or less than $7,700,000; |
(ii) The school district operates 2 elementary |
attendance centers that until 1976 were operated as the |
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attendance centers of 2 separate and distinct school |
districts; |
(iii) The bonds are issued for the construction of a |
new elementary school building to replace an existing |
multi-level elementary school building of the school |
district that is not accessible at all levels and parts of |
which were constructed more than 75 years ago; |
(iv) The voters of the school district approve a |
proposition for the issuance of the bonds at a referendum |
held after July 1, 1998; and |
(v) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(n) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section or any other provisions of this |
Section or of any other law, a school district that meets all |
of the criteria set forth in paragraphs (i) through (vi) of |
this subsection (n) may incur additional indebtedness by the |
issuance of bonds in an amount not exceeding the amount |
certified by the Capital Development Board to the school |
district as provided in paragraph (iii) of this subsection |
(n), even though the amount of the additional indebtedness so |
authorized, when incurred and added to the aggregate amount of |
indebtedness of the district existing immediately prior to the |
district incurring the additional indebtedness authorized by |
this subsection (n), causes the aggregate indebtedness of the |
district to exceed the debt limitation otherwise applicable by |
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law to that district: |
(i) The school district applies to the State Board of |
Education for a school construction project grant and |
submits a district facilities plan in support of its |
application pursuant to Section 5-20 of the School |
Construction Law. |
(ii) The school district's application and facilities |
plan are approved by, and the district receives a grant |
entitlement for a school construction project issued by, |
the State Board of Education under the School Construction |
Law. |
(iii) The school district has exhausted its bonding |
capacity or the unused bonding capacity of the district is |
less than the amount certified by the Capital Development |
Board to the district under Section 5-15 of the School |
Construction Law as the dollar amount of the school |
construction project's cost that the district will be |
required to finance with non-grant funds in order to |
receive a school construction project grant under the |
School Construction Law. |
(iv) The bonds are issued for a "school construction |
project", as that term is defined in Section 5-5 of the |
School Construction Law, in an amount that does not exceed |
the dollar amount certified, as provided in paragraph |
(iii) of this subsection (n), by the Capital Development |
Board to the school district under Section 5-15 of the |
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School Construction Law. |
(v) The voters of the district approve a proposition |
for the issuance of the bonds at a referendum held after |
the criteria specified in paragraphs (i) and (iii) of this |
subsection (n) are met. |
(vi) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of the School Code. |
(o) Notwithstanding any other provisions of this Section |
or the provisions of any other law, until November 1, 2007, a |
community unit school district maintaining grades K through 12 |
may issue bonds up to an amount, including existing |
indebtedness, not exceeding 20% of the equalized assessed |
value of the taxable property in the district if all of the |
following conditions are met: |
(i) the school district has an equalized assessed |
valuation for calendar year 2001 of at least $737,000,000 |
and an enrollment for the 2002-2003 school year of at |
least 8,500; |
(ii) the bonds are issued to purchase school sites, |
build and equip a new high school, build and equip a new |
junior high school, build and equip 5 new elementary |
schools, and make technology and other improvements and |
additions to existing schools; |
(iii) at the time of the sale of the bonds, the board |
of education determines by resolution that the sites and |
new or improved facilities are needed because of projected |
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enrollment increases; |
(iv) at least 57% of those voting in a general |
election held prior to January 1, 2003 approved a |
proposition for the issuance of the bonds; and |
(v) the bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
(p) Notwithstanding any other provisions of this Section |
or the provisions of any other law, a community unit school |
district maintaining grades K through 12 may issue bonds up to |
an amount, including indebtedness, not exceeding 27% of the |
equalized assessed value of the taxable property in the |
district if all of the following conditions are met: |
(i) The school district has an equalized assessed |
valuation for calendar year 2001 of at least $295,741,187 |
and a best 3 months' average daily attendance for the |
2002-2003 school year of at least 2,394. |
(ii) The bonds are issued to build and equip 3 |
elementary school buildings; build and equip one middle |
school building; and alter, repair, improve, and equip all |
existing school buildings in the district. |
(iii) At the time of the sale of the bonds, the board |
of education determines by resolution that the project is |
needed because of expanding growth in the school district |
and a projected enrollment increase. |
(iv) The bonds are issued pursuant to Sections 19-2 |
through 19-7 of this Code. |
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(p-5) Notwithstanding any other provisions of this Section |
or the provisions of any other law, bonds issued by a community |
unit school district maintaining grades K through 12 shall not |
be considered indebtedness for purposes of any statutory |
limitation and may be issued in an amount or amounts, |
including existing indebtedness, in excess of any heretofore |
or hereafter imposed statutory limitation as to indebtedness, |
if all of the following conditions are met: |
(i) For each of the 4 most recent years, residential |
property comprises more than 80% of the equalized assessed |
valuation of the district. |
(ii) At least 2 school buildings that were constructed |
40 or more years prior to the issuance of the bonds will be |
demolished and will be replaced by new buildings or |
additions to one or more existing buildings. |
(iii) Voters of the district approve a proposition for |
the issuance of the bonds at a regularly scheduled |
election. |
(iv) At the time of the sale of the bonds, the school |
board determines by resolution that the new buildings or |
building additions are needed because of an increase in |
enrollment projected by the school board. |
(v) The principal amount of the bonds, including |
existing indebtedness, does not exceed 25% of the |
equalized assessed value of the taxable property in the |
district. |
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(vi) The bonds are issued prior to January 1, 2007, |
pursuant to Sections 19-2 through 19-7 of this Code. |
(p-10) Notwithstanding any other provisions of this |
Section or the provisions of any other law, bonds issued by a |
community consolidated school district maintaining grades K |
through 8 shall not be considered indebtedness for purposes of |
any statutory limitation and may be issued in an amount or |
amounts, including existing indebtedness, in excess of any |
heretofore or hereafter imposed statutory limitation as to |
indebtedness, if all of the following conditions are met: |
(i) For each of the 4 most recent years, residential |
and farm property comprises more than 80% of the equalized |
assessed valuation of the district. |
(ii) The bond proceeds are to be used to acquire and |
improve school sites and build and equip a school |
building. |
(iii) Voters of the district approve a proposition for |
the issuance of the bonds at a regularly scheduled |
election. |
(iv) At the time of the sale of the bonds, the school |
board determines by resolution that the school sites and |
building additions are needed because of an increase in |
enrollment projected by the school board. |
(v) The principal amount of the bonds, including |
existing indebtedness, does not exceed 20% of the |
equalized assessed value of the taxable property in the |
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district. |
(vi) The bonds are issued prior to January 1, 2007, |
pursuant to Sections 19-2 through 19-7 of this Code. |
(p-15) In addition to all other authority to issue bonds, |
the Oswego Community Unit School District Number 308 may issue |
bonds with an aggregate principal amount not to exceed |
$450,000,000, but only if all of the following conditions are |
met: |
(i) The voters of the district have approved a |
proposition for the bond issue at the general election |
held on November 7, 2006. |
(ii) At the time of the sale of the bonds, the school |
board determines, by resolution, that: (A) the building |
and equipping of the new high school building, new junior |
high school buildings, new elementary school buildings, |
early childhood building, maintenance building, |
transportation facility, and additions to existing school |
buildings, the altering, repairing, equipping, and |
provision of technology improvements to existing school |
buildings, and the acquisition and improvement of school |
sites, as the case may be, are required as a result of a |
projected increase in the enrollment of students in the |
district; and (B) the sale of bonds for these purposes is |
authorized by legislation that exempts the debt incurred |
on the bonds from the district's statutory debt |
limitation. |
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(iii) The bonds are issued, in one or more bond |
issues, on or before November 7, 2011, but the aggregate |
principal amount issued in all such bond issues combined |
must not exceed $450,000,000. |
(iv) The bonds are issued in accordance with this |
Article 19. |
(v) The proceeds of the bonds are used only to |
accomplish those projects approved by the voters at the |
general election held on November 7, 2006. |
The debt incurred on any bonds issued under this subsection |
(p-15) shall not be considered indebtedness for purposes of |
any statutory debt limitation. |
(p-20) In addition to all other authority to issue bonds, |
the Lincoln-Way Community High School District Number 210 may |
issue bonds with an aggregate principal amount not to exceed |
$225,000,000, but only if all of the following conditions are |
met: |
(i) The voters of the district have approved a |
proposition for the bond issue at the general primary |
election held on March 21, 2006. |
(ii) At the time of the sale of the bonds, the school |
board determines, by resolution, that: (A) the building |
and equipping of the new high school buildings, the |
altering, repairing, and equipping of existing school |
buildings, and the improvement of school sites, as the |
case may be, are required as a result of a projected |
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increase in the enrollment of students in the district; |
and (B) the sale of bonds for these purposes is authorized |
by legislation that exempts the debt incurred on the bonds |
from the district's statutory debt limitation. |
(iii) The bonds are issued, in one or more bond |
issues, on or before March 21, 2011, but the aggregate |
principal amount issued in all such bond issues combined |
must not exceed $225,000,000. |
(iv) The bonds are issued in accordance with this |
Article 19. |
(v) The proceeds of the bonds are used only to |
accomplish those projects approved by the voters at the |
primary election held on March 21, 2006. |
The debt incurred on any bonds issued under this subsection |
(p-20) shall not be considered indebtedness for purposes of |
any statutory debt limitation. |
(p-25) In addition to all other authority to issue bonds, |
Rochester Community Unit School District 3A may issue bonds |
with an aggregate principal amount not to exceed $18,500,000, |
but only if all of the following conditions are met: |
(i) The voters of the district approve a proposition |
for the bond issuance at the general primary election held |
in 2008. |
(ii) At the time of the sale of the bonds, the school |
board determines, by resolution, that: (A) the building |
and equipping of a new high school building; the addition |
|
of classrooms and support facilities at the high school, |
middle school, and elementary school; the altering, |
repairing, and equipping of existing school buildings; and |
the improvement of school sites, as the case may be, are |
required as a result of a projected increase in the |
enrollment of students in the district; and (B) the sale |
of bonds for these purposes is authorized by a law that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(iii) The bonds are issued, in one or more bond |
issues, on or before December 31, 2012, but the aggregate |
principal amount issued in all such bond issues combined |
must not exceed $18,500,000. |
(iv) The bonds are issued in accordance with this |
Article 19. |
(v) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at the primary |
election held in 2008. |
The debt incurred on any bonds issued under this subsection |
(p-25) shall not be considered indebtedness for purposes of |
any statutory debt limitation. |
(p-30) In addition to all other authority to issue bonds, |
Prairie Grove Consolidated School District 46 may issue bonds |
with an aggregate principal amount not to exceed $30,000,000, |
but only if all of the following conditions are met: |
(i) The voters of the district approve a proposition |
|
for the bond issuance at an election held in 2008. |
(ii) At the time of the sale of the bonds, the school |
board determines, by resolution, that (A) the building and |
equipping of a new school building and additions to |
existing school buildings are required as a result of a |
projected increase in the enrollment of students in the |
district and (B) the altering, repairing, and equipping of |
existing school buildings are required because of the age |
of the existing school buildings. |
(iii) The bonds are issued, in one or more bond |
issuances, on or before December 31, 2012; however, the |
aggregate principal amount issued in all such bond |
issuances combined must not exceed $30,000,000. |
(iv) The bonds are issued in accordance with this |
Article. |
(v) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held in 2008. |
The debt incurred on any bonds issued under this subsection |
(p-30) shall not be considered indebtedness for purposes of |
any statutory debt limitation. |
(p-35) In addition to all other authority to issue bonds, |
Prairie Hill Community Consolidated School District 133 may |
issue bonds with an aggregate principal amount not to exceed |
$13,900,000, but only if all of the following conditions are |
met: |
|
(i) The voters of the district approved a proposition |
for the bond issuance at an election held on April 17, |
2007. |
(ii) At the time of the sale of the bonds, the school |
board determines, by resolution, that (A) the improvement |
of the site of and the building and equipping of a school |
building are required as a result of a projected increase |
in the enrollment of students in the district and (B) the |
repairing and equipping of the Prairie Hill Elementary |
School building is required because of the age of that |
school building. |
(iii) The bonds are issued, in one or more bond |
issuances, on or before December 31, 2011, but the |
aggregate principal amount issued in all such bond |
issuances combined must not exceed $13,900,000. |
(iv) The bonds are issued in accordance with this |
Article. |
(v) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on April 17, 2007. |
The debt incurred on any bonds issued under this subsection |
(p-35) shall not be considered indebtedness for purposes of |
any statutory debt limitation. |
(p-40) In addition to all other authority to issue bonds, |
Mascoutah Community Unit District 19 may issue bonds with an |
aggregate principal amount not to exceed $55,000,000, but only |
|
if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at a regular election held on or |
after November 4, 2008. |
(2) At the time of the sale of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of a new high school building is required as a |
result of a projected increase in the enrollment of |
students in the district and the age and condition of the |
existing high school building, (ii) the existing high |
school building will be demolished, and (iii) the sale of |
bonds is authorized by statute that exempts the debt |
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued, in one or more bond |
issuances, on or before December 31, 2011, but the |
aggregate principal amount issued in all such bond |
issuances combined must not exceed $55,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at a regular |
election held on or after November 4, 2008. |
The debt incurred on any bonds issued under this |
subsection (p-40) shall not be considered indebtedness for |
purposes of any statutory debt limitation. |
|
(p-45) Notwithstanding the provisions of subsection (a) of |
this Section or of any other law, bonds issued pursuant to |
Section 19-3.5 of this Code shall not be considered |
indebtedness for purposes of any statutory limitation if the |
bonds are issued in an amount or amounts, including existing |
indebtedness of the school district, not in excess of 18.5% of |
the value of the taxable property in the district to be |
ascertained by the last assessment for State and county taxes. |
(p-50) Notwithstanding the provisions of subsection (a) of |
this Section or of any other law, bonds issued pursuant to |
Section 19-3.10 of this Code shall not be considered |
indebtedness for purposes of any statutory limitation if the |
bonds are issued in an amount or amounts, including existing |
indebtedness of the school district, not in excess of 43% of |
the value of the taxable property in the district to be |
ascertained by the last assessment for State and county taxes. |
(p-55) In addition to all other authority to issue bonds, |
Belle Valley School District 119 may issue bonds with an |
aggregate principal amount not to exceed $47,500,000, but only |
if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
7, 2009. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of a new school building is required as a result |
|
of mine subsidence in an existing school building and |
because of the age and condition of another existing |
school building and (ii) the issuance of bonds is |
authorized by statute that exempts the debt incurred on |
the bonds from the district's statutory debt limitation. |
(3) The bonds are issued, in one or more bond |
issuances, on or before March 31, 2014, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $47,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after April 7, 2009. |
The debt incurred on any bonds issued under this |
subsection (p-55) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-55) must mature within not to exceed 30 |
years from their date, notwithstanding any other law to the |
contrary. |
(p-60) In addition to all other authority to issue bonds, |
Wilmington Community Unit School District Number 209-U may |
issue bonds with an aggregate principal amount not to exceed |
$2,285,000, but only if all of the following conditions are |
met: |
(1) The proceeds of the bonds are used to accomplish |
|
only those projects approved by the voters at the general |
primary election held on March 21, 2006. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the projects |
approved by the voters were and are required because of |
the age and condition of the school district's prior and |
existing school buildings and (ii) the issuance of the |
bonds is authorized by legislation that exempts the debt |
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued in one or more bond issuances |
on or before March 1, 2011, but the aggregate principal |
amount issued in all those bond issuances combined must |
not exceed $2,285,000. |
(4) The bonds are issued in accordance with this |
Article. |
The debt incurred on any bonds issued under this |
subsection (p-60) shall not be considered indebtedness for |
purposes of any statutory debt limitation. |
(p-65) In addition to all other authority to issue bonds, |
West Washington County Community Unit School District 10 may |
issue bonds with an aggregate principal amount not to exceed |
$32,200,000 and maturing over a period not exceeding 25 years, |
but only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after |
|
February 2, 2010. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (A) all or a portion |
of the existing Okawville Junior/Senior High School |
Building will be demolished; (B) the building and |
equipping of a new school building to be attached to and |
the alteration, repair, and equipping of the remaining |
portion of the Okawville Junior/Senior High School |
Building is required because of the age and current |
condition of that school building; and (C) the issuance of |
bonds is authorized by a statute that exempts the debt |
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued, in one or more bond |
issuances, on or before March 31, 2014, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $32,200,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after February 2, 2010. |
The debt incurred on any bonds issued under this |
subsection (p-65) shall not be considered indebtedness for |
purposes of any statutory debt limitation. |
(p-70) In addition to all other authority to issue bonds, |
|
Cahokia Community Unit School District 187 may issue bonds |
with an aggregate principal amount not to exceed $50,000,000, |
but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after |
November 2, 2010. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) 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 (ii) the issuance of bonds is authorized by a statute |
that exempts the debt incurred on the bonds from the |
district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, on |
or before July 1, 2016, but the aggregate principal amount |
issued in all such bond issuances combined must not exceed |
$50,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after November 2, 2010. |
The debt incurred on any bonds issued under this |
subsection (p-70) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-70) must mature within not to exceed 25 |
|
years from their date, notwithstanding any other law, |
including Section 19-3 of this Code, to the contrary. |
(p-75) Notwithstanding the debt limitation prescribed in |
subsection (a) of this Section or any other provisions of this |
Section or of any other law, the execution of leases on or |
after January 1, 2007 and before July 1, 2011 by the Board of |
Education of Peoria School District 150 with a public building |
commission for leases entered into pursuant to the Public |
Building Commission Act shall not be considered indebtedness |
for purposes of any statutory debt limitation. |
This subsection (p-75) applies only if the State Board of |
Education or the Capital Development Board makes one or more |
grants to Peoria School District 150 pursuant to the School |
Construction Law. The amount exempted from the debt limitation |
as prescribed in this subsection (p-75) shall be no greater |
than the amount of one or more grants awarded to Peoria School |
District 150 by the State Board of Education or the Capital |
Development Board. |
(p-80) In addition to all other authority to issue bonds, |
Ridgeland School District 122 may issue bonds with an |
aggregate principal amount not to exceed $50,000,000 for the |
purpose of refunding or continuing to refund bonds originally |
issued pursuant to voter approval at the general election held |
on November 7, 2000, and the debt incurred on any bonds issued |
under this subsection (p-80) shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
|
Bonds issued under this subsection (p-80) may be issued in one |
or more issuances and must mature within not to exceed 25 years |
from their date, notwithstanding any other law, including |
Section 19-3 of this Code, to the contrary. |
(p-85) In addition to all other authority to issue bonds, |
Hall High School District 502 may issue bonds with an |
aggregate principal amount not to exceed $32,000,000, but only |
if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
9, 2013. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of a new school building is required as a result |
of the age and condition of an existing school building, |
(ii) the existing school building should be demolished in |
its entirety or the existing school building should be |
demolished except for the 1914 west wing of the building, |
and (iii) the issuance of bonds is authorized by a statute |
that exempts the debt incurred on the bonds from the |
district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $32,000,000. |
|
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after April 9, 2013. |
The debt incurred on any bonds issued under this |
subsection (p-85) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-85) must mature within not to exceed 30 |
years from their date, notwithstanding any other law, |
including Section 19-3 of this Code, to the contrary. |
(p-90) In addition to all other authority to issue bonds, |
Lebanon Community Unit School District 9 may issue bonds with |
an aggregate principal amount not to exceed $7,500,000, but |
only if all of the following conditions are met: |
(1) The voters of the district approved a proposition |
for the bond issuance at the general primary election on |
February 2, 2010. |
(2) At or prior to the time of the sale of the bonds, |
the school board determines, by resolution, that (i) the |
building and equipping of a new elementary school building |
is required as a result of a projected increase in the |
enrollment of students in the district and the age and |
condition of the existing Lebanon Elementary School |
building, (ii) a portion of the existing Lebanon |
Elementary School building will be demolished and the |
|
remaining portion will be altered, repaired, and equipped, |
and (iii) the sale of bonds is authorized by a statute that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more bond |
issuances, on or before April 1, 2014, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $7,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at the general |
primary election held on February 2, 2010. |
The debt incurred on any bonds issued under this |
subsection (p-90) shall not be considered indebtedness for |
purposes of any statutory debt limitation. |
(p-95) In addition to all other authority to issue bonds, |
Monticello Community Unit School District 25 may issue bonds |
with an aggregate principal amount not to exceed $35,000,000, |
but only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after |
November 4, 2014. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) 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 (ii) the issuance of bonds is authorized by a statute |
that exempts the debt incurred on the bonds from the |
district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, on |
or before July 1, 2020, but the aggregate principal amount |
issued in all such bond issuances combined must not exceed |
$35,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after November 4, 2014. |
The debt incurred on any bonds issued under this |
subsection (p-95) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-95) must mature within not to exceed 25 |
years from their date, notwithstanding any other law, |
including Section 19-3 of this Code, to the contrary. |
(p-100) In addition to all other authority to issue bonds, |
the community unit school district created in the territory |
comprising Milford Community Consolidated School District 280 |
and Milford Township High School District 233, as approved at |
the general primary election held on March 18, 2014, may issue |
bonds with an aggregate principal amount not to exceed |
$17,500,000, but only if all the following conditions are met: |
|
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after |
November 4, 2014. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) 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 (ii) the issuance of bonds is authorized by a statute |
that exempts the debt incurred on the bonds from the |
district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, on |
or before July 1, 2020, but the aggregate principal amount |
issued in all such bond issuances combined must not exceed |
$17,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after November 4, 2014. |
The debt incurred on any bonds issued under this |
subsection (p-100) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-100) must mature within not to exceed 25 |
years from their date, notwithstanding any other law, |
including Section 19-3 of this Code, to the contrary. |
(p-105) In addition to all other authority to issue bonds, |
|
North Shore School District 112 may issue bonds with an |
aggregate principal amount not to exceed $150,000,000, but |
only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
15, 2016. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of new buildings and improving the sites thereof |
and the building and equipping of additions to, altering, |
repairing, equipping, and renovating existing buildings |
and improving the sites thereof are required as a result |
of the age and condition of the district's existing |
buildings and (ii) the issuance of bonds is authorized by |
a statute that exempts the debt incurred on the bonds from |
the district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $150,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after March 15, 2016. |
|
The debt incurred on any bonds issued under this |
subsection (p-105) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-105) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 30 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-110) In addition to all other authority to issue bonds, |
Sandoval Community Unit School District 501 may issue bonds |
with an aggregate principal amount not to exceed $2,000,000, |
but only if all of the following conditions are met: |
(1) The voters of the district approved a proposition |
for the bond issuance at an election held on March 20, |
2012. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of a new school building is required because of |
the age and current condition of the Sandoval Elementary |
School building and (ii) the issuance of bonds is |
authorized by a statute that exempts the debt incurred on |
the bonds from the district's statutory debt limitation. |
(3) The bonds are issued, in one or more bond |
issuances, on or before March 19, 2022, but the aggregate |
principal amount issued in all such bond issuances |
|
combined must not exceed $2,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at the election |
held on March 20, 2012. |
The debt incurred on any bonds issued under this |
subsection (p-110) and on any bonds issued to refund or |
continue to refund the bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
(p-115) In addition to all other authority to issue bonds, |
Bureau Valley Community Unit School District 340 may issue |
bonds with an aggregate principal amount not to exceed |
$25,000,000, but only if all of the following conditions are |
met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
15, 2016. |
(2) Prior to the issuances of the bonds, the school |
board determines, by resolution, that (i) the renovating |
and equipping of some existing school buildings, the |
building and equipping of new school buildings, and the |
demolishing of some existing school buildings are required |
as a result of the age and condition of existing school |
buildings and (ii) the issuance of bonds is authorized by |
a statute that exempts the debt incurred on the bonds from |
|
the district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, on |
or before July 1, 2021, but the aggregate principal amount |
issued in all such bond issuances combined must not exceed |
$25,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after March 15, 2016. |
The debt incurred on any bonds issued under this |
subsection (p-115) shall not be considered indebtedness for |
purposes of any statutory debt limitation. Bonds issued under |
this subsection (p-115) must mature within not to exceed 30 |
years from their date, notwithstanding any other law, |
including Section 19-3 of this Code, to the contrary. |
(p-120) In addition to all other authority to issue bonds, |
Paxton-Buckley-Loda Community Unit School District 10 may |
issue bonds with an aggregate principal amount not to exceed |
$28,500,000, but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after |
November 8, 2016. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the projects as |
described in said proposition, relating to the building |
|
and equipping of one or more school buildings or additions |
to existing school buildings, are required as a result of |
the age and condition of the District's existing buildings |
and (ii) the issuance of bonds is authorized by a statute |
that exempts the debt incurred on the bonds from the |
district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $28,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after November 8, 2016. |
The debt incurred on any bonds issued under this |
subsection (p-120) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-120) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-125) In addition to all other authority to issue bonds, |
|
Hillsboro Community Unit School District 3 may issue bonds |
with an aggregate principal amount not to exceed $34,500,000, |
but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
15, 2016. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) altering, |
repairing, and equipping the high school |
agricultural/vocational building, demolishing the high |
school main, cafeteria, and gym buildings, building and |
equipping a school building, and improving sites are |
required as a result of the age and condition of the |
district's existing buildings and (ii) the issuance of |
bonds is authorized by a statute that exempts the debt |
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $34,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
|
held on or after March 15, 2016. |
The debt incurred on any bonds issued under this |
subsection (p-125) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-125) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-130) In addition to all other authority to issue bonds, |
Waltham Community Consolidated School District 185 may incur |
indebtedness in an aggregate principal amount not to exceed |
$9,500,000 to build and equip a new school building and |
improve the site thereof, but only if all the following |
conditions are met: |
(1) A majority of the voters of the district voting on |
an advisory question voted in favor of the question |
regarding the use of funding sources to build a new school |
building without increasing property tax rates at the |
general election held on November 8, 2016. |
(2) Prior to incurring the debt, the school board |
enters into intergovernmental agreements with the City of |
LaSalle to pledge moneys in a special tax allocation fund |
associated with tax increment financing districts LaSalle |
I and LaSalle III and with the Village of Utica to pledge |
|
moneys in a special tax allocation fund associated with |
tax increment financing district Utica I for the purposes |
of repaying the debt issued pursuant to this subsection |
(p-130). Notwithstanding any other provision of law to the |
contrary, the intergovernmental agreement may extend these |
tax increment financing districts as necessary to ensure |
repayment of the debt. |
(3) Prior to incurring the debt, the school board |
determines, by resolution, that (i) the building and |
equipping of a new school building is required as a result |
of the age and condition of the district's existing |
buildings and (ii) the debt is authorized by a statute |
that exempts the debt from the district's statutory debt |
limitation. |
(4) The debt is incurred, in one or more issuances, |
not later than January 1, 2021, and the aggregate |
principal amount of debt issued in all such issuances |
combined must not exceed $9,500,000. |
The debt incurred under this subsection (p-130) and on any |
bonds issued to pay, refund, or continue to refund such debt |
shall not be considered indebtedness for purposes of any |
statutory debt limitation. Debt issued under this subsection |
(p-130) and any bonds issued to pay, refund, or continue to |
refund such debt must mature within not to exceed 25 years from |
their date, notwithstanding any other law, including Section |
19-11 of this Code and subsection (b) of Section 17 of the |
|
Local Government Debt Reform Act, to the contrary. |
(p-133) Notwithstanding the provisions of subsection (a) |
of this Section or of any other law, bonds heretofore or |
hereafter issued by East Prairie School District 73 with an |
aggregate principal amount not to exceed $47,353,147 and |
approved by the voters of the district at the general election |
held on November 8, 2016, and any bonds issued to refund or |
continue to refund the bonds, shall not be considered |
indebtedness for the purposes of any statutory debt limitation |
and may mature within not to exceed 25 years from their date, |
notwithstanding any other law, including Section 19-3 of this |
Code, to the contrary. |
(p-135) In addition to all other authority to issue bonds, |
Brookfield LaGrange Park School District Number 95 may issue |
bonds with an aggregate principal amount not to exceed |
$20,000,000, but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
4, 2017. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the additions |
and renovations to the Brook Park Elementary and S. E. |
Gross Middle School buildings are required to accommodate |
enrollment growth, replace outdated facilities, and create |
spaces consistent with 21st century learning and (ii) the |
issuance of the bonds is authorized by a statute that |
|
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $20,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after April 4, 2017. |
The debt incurred on any bonds issued under this |
subsection (p-135) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
(p-140) The debt incurred on any bonds issued by Wolf |
Branch School District 113 under Section 17-2.11 of this Code |
for the purpose of repairing or replacing all or a portion of a |
school building that has been damaged by mine subsidence in an |
aggregate principal amount not to exceed $17,500,000 and on |
any bonds issued to refund or continue to refund those bonds |
shall not be considered indebtedness for purposes of any |
statutory debt limitation and must mature no later than 25 |
years from the date of issuance, notwithstanding any other |
provision of law to the contrary, including Section 19-3 of |
|
this Code. The maximum allowable amount of debt exempt from |
statutory debt limitations under this subsection (p-140) shall |
be reduced by an amount equal to any grants awarded by the |
State Board of Education or Capital Development Board for the |
explicit purpose of repairing or reconstructing a school |
building damaged by mine subsidence. |
(p-145) In addition to all other authority to issue bonds, |
Greenview Community Unit School District 200 may issue bonds |
with an aggregate principal amount not to exceed $3,500,000, |
but only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on March 17, |
2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the bonding is |
necessary for construction and expansion of the district's |
kindergarten through grade 12 facility. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $3,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
|
held on March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-145) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-145) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-150) In addition to all other authority to issue bonds, |
Komarek School District 94 may issue bonds with an aggregate |
principal amount not to exceed $20,800,000, but only if all of |
the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
17, 2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) building and |
equipping additions to, altering, repairing, equipping, or |
demolishing a portion of, or improving the site of the |
district's existing school building is required as a |
result of the age and condition of the existing building |
and (ii) the issuance of the bonds is authorized by a |
statute that exempts the debt incurred on the bonds from |
the district's statutory debt limitation. |
|
(3) The bonds are issued, in one or more issuances, no |
later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all of the bond issuances |
combined may not exceed $20,800,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at an election |
held on or after March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-150) and on any bonds issued to refund or |
continue to refund those bonds may not be considered |
indebtedness for purposes of any statutory debt limitation. |
Notwithstanding any other law to the contrary, including |
Section 19-3, bonds issued under this subsection (p-150) and |
any bonds issued to refund or continue to refund those bonds |
must mature within 30 years from their date of issuance. |
(p-155) In addition to all other authority to issue bonds, |
Williamsville Community Unit School District 15 may issue |
bonds with an aggregate principal amount not to exceed |
$40,000,000, but only if all of the following conditions are |
met: |
(1) The voters of the school district approve a |
proposition for the bond issuance at an election held on |
March 17, 2020. |
|
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
forth in the proposition for the bond issuance were and |
are required because of the age and condition of the |
school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $40,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-155) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-155) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-160) In addition to all other authority to issue bonds, |
Berkeley School District 87 may issue bonds with an aggregate |
|
principal amount not to exceed $105,000,000, but only if all |
of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at the general primary election held |
on March 17, 2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) building and |
equipping a school building to replace the Sunnyside |
Intermediate and MacArthur Middle School buildings; |
building and equipping additions to and altering, |
repairing, and equipping the Riley Intermediate and |
Northlake Middle School buildings; altering, repairing, |
and equipping the Whittier Primary and Jefferson Primary |
School buildings; improving sites; renovating |
instructional spaces; providing STEM (science, technology, |
engineering, and mathematics) labs; and constructing life |
safety, security, and infrastructure improvements are |
required to replace outdated facilities and to provide |
safe spaces consistent with 21st century learning and (ii) |
the issuance of bonds is authorized by a statute that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
|
combined must not exceed $105,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only those projects approved by the voters at the general |
primary election held on March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-160) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
(p-165) In addition to all other authority to issue bonds, |
Elmwood Park Community Unit School District 401 may issue |
bonds with an aggregate principal amount not to exceed |
$55,000,000, but only if all of the following conditions are |
met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
17, 2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the building and |
equipping of an addition to the John Mills Elementary |
School building; the renovating, altering, repairing, and |
equipping of the John Mills and Elmwood Elementary School |
buildings; the installation of safety and security |
improvements; and the improvement of school sites are |
required as a result of the age and condition of the |
|
district's existing school buildings and (ii) the issuance |
of bonds is authorized by a statute that exempts the debt |
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $55,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-165) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-165) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-170) In addition to all other authority to issue bonds, |
Maroa-Forsyth Community Unit School District 2 may issue bonds |
with an aggregate principal amount not to exceed $33,000,000, |
|
but only if all of the following conditions are met: |
(1) The voters of the school district approve a |
proposition for the bond issuance at an election held on |
March 17, 2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
forth in the proposition for the bond issuance were and |
are required because of the age and condition of the |
school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $33,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-170) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-170) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
|
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-175) In addition to all other authority to issue bonds, |
Schiller Park School District 81 may issue bonds with an |
aggregate principal amount not to exceed $30,000,000, but only |
if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after March |
17, 2020. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) building and |
equipping a school building to replace the Washington |
Elementary School building, installing fire suppression |
systems, security systems, and federal Americans with |
Disability Act of 1990 compliance measures, acquiring |
land, and improving the site are required to accommodate |
enrollment growth, replace an outdated facility, and |
create spaces consistent with 21st century learning and |
(ii) the issuance of bonds is authorized by a statute that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $30,000,000. |
|
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after March 17, 2020. |
The debt incurred on any bonds issued under this |
subsection (p-175) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-175) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 27 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-180) In addition to all other authority to issue bonds, |
Iroquois County Community Unit School District 9 may issue |
bonds with an aggregate principal amount not to exceed |
$17,125,000, but only if all of the following conditions are |
met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
6, 2021. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) building and |
equipping a new school building in the City of Watseka; |
altering, repairing, renovating, and equipping portions of |
|
the existing facilities of the district; and making site |
improvements is necessary because of the age and condition |
of the district's existing school facilities and (ii) the |
issuance of bonds is authorized by a statute that exempts |
the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $17,125,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after April 6, 2021. |
The debt incurred on any bonds issued under this |
subsection (p-180) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-180) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-185) In addition to all other authority to issue bonds, |
|
Field Community Consolidated School District 3 may issue bonds |
with an aggregate principal amount not to exceed $2,600,000, |
but only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
6, 2021. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) it is necessary |
to alter, repair, renovate, and equip the existing |
facilities of the district, including, but not limited to, |
roof replacement, lighting replacement, electrical |
upgrades, restroom repairs, and gym renovations, and make |
site improvements because of the age and condition of the |
district's existing school facilities and (ii) the |
issuance of bonds is authorized by a statute that exempts |
the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $2,600,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
|
held on or after April 6, 2021. |
The debt incurred on any bonds issued under this |
subsection (p-185) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-185) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-190) In addition to all other authority to issue bonds, |
Mahomet-Seymour Community Unit School District 3 may issue |
bonds with an aggregate principal amount not to exceed |
$97,900,000, but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) it is necessary |
to build and equip a new junior high school building, |
build and equip a new transportation building, and build |
and equip additions to, renovate, and make site |
improvements at the Lincoln Trail Elementary building, |
Middletown Prairie Elementary building, and |
Mahomet-Seymour High School building and (ii) the issuance |
of bonds is authorized by a statute that exempts the debt |
|
incurred on the bonds from the district's statutory debt |
limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $97,900,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-190) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-190) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-195) In addition to all other authority to issue bonds, |
New Berlin Community Unit School District 16 may issue bonds |
with an aggregate principal amount not to exceed $23,500,000, |
but only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
|
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) it is necessary |
to alter, repair, and equip the junior/senior high school |
building, including creating new classroom, gym, and other |
instructional spaces, renovating the J.V. Kirby Pretzel |
Dome, improving heating, cooling, and ventilation systems, |
installing school safety and security improvements, |
removing asbestos, and making site improvements, and (ii) |
the issuance of bonds is authorized by a statute that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $23,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-195) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
|
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-195) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-200) In addition to all other authority to issue bonds, |
Highland Community Unit School District 5 may issue bonds with |
an aggregate principal amount not to exceed $40,000,000, but |
only if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) it is necessary |
to improve the sites of, build, and equip a new primary |
school building and build and equip additions to and |
alter, repair, and equip existing school buildings and |
(ii) the issuance of bonds is authorized by a statute that |
exempts the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $40,000,000. |
|
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-200) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-200) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-205) In addition to all other authority to issue bonds, |
Sullivan Community Unit School District 300 may issue bonds |
with an aggregate principal amount not to exceed $25,000,000, |
but only if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) the projects set |
forth in the proposition for the issuance of the bonds are |
required because of the age, condition, or capacity of the |
school district's existing school buildings and (ii) the |
|
issuance of bonds is authorized by a statute that exempts |
the debt incurred on the bonds from the district's |
statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $25,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-205) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-205) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-210) In addition to all other authority to issue bonds, |
Manhattan School District 114 may issue bonds with an |
aggregate principal amount not to exceed $85,000,000, but only |
if all the following conditions are met: |
|
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
forth in the proposition for the bond issuance were and |
are required because of the age, condition, or capacity of |
the school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuances of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $85,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-210) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-210) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 30 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
|
contrary. |
(p-215) In addition to all other authority to issue bonds, |
Golf Elementary School District 67 may issue bonds with an |
aggregate principal amount not to exceed $56,000,000, but only |
if all of the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after June |
28, 2022. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that (i) it is necessary |
to build and equip a new school building and improve the |
site thereof and (ii) the issuance of bonds is authorized |
by a statute that exempts the debt incurred on the bonds |
from the district's statutory debt limitation. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $56,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after June 28, 2022. |
The debt incurred on any bonds issued under this |
subsection (p-215) and on any bonds issued to refund or |
|
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-215) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-220) In addition to all other authority to issue bonds, |
Joliet Public Schools District 86 may issue bonds with an |
aggregate principal amount not to exceed $99,500,000, but only |
if all the following conditions are met: |
(1) The voters of the district approve a proposition |
for the bond issuance at an election held on or after April |
4, 2023. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
forth in the proposition for the bond issuance were and |
are required because of the age and condition of the |
school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $99,500,000. |
(4) The bonds are issued in accordance with this |
Article. |
|
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after April 4, 2023. |
The debt incurred on any bonds issued under this |
subsection (p-220), and on any bonds issued to refund or |
continue to refund such bonds, shall not be considered |
indebtedness for purposes of any statutory debt limitation. |
Bonds issued under this subsection (p-220) and any bonds |
issued to refund or continue to refund such bonds must mature |
within not to exceed 25 years from their date, notwithstanding |
any other law, including Section 19-3 of this Code, to the |
contrary. |
(p-225) In addition to all other authority to issue bonds, |
Union Ridge School District 86 may issue bonds with an |
aggregate principal amount not to exceed $35,000,000, but only |
if all the following conditions are met: |
(1) The voters of the school district approve a |
proposition for the bond issuance at an election held on |
or after March 19, 2024. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
forth in the proposition for the bond issuance were and |
are required because of the age and condition of the |
school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
|
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $35,000,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after March 19, 2024. |
The debt incurred on any bonds issued under this |
subsection (p-225) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limit |
limitation. Bonds issued under this subsection (p-225) and any |
bonds issue to refund or continue to refund such bonds must |
mature within not to exceed 25 years from their date, |
notwithstanding any other law, including Section 19-3 of this |
Code, to the contrary. |
(p-230) In addition to all other authority to issue bonds, |
Bethel School District 82 may issue bonds with an aggregate |
principal amount not to exceed $3,975,000, but only if all the |
following conditions are met: |
(1) The voters of the school district approve a |
proposition for the bond issuance at an election held on |
or after March 19, 2024. |
(2) Prior to the issuance of the bonds, the school |
board determines, by resolution, that the projects set |
|
forth in the proposition for the bond issuance were and |
are required because of the age and condition of the |
school district's existing school buildings. |
(3) The bonds are issued, in one or more issuances, |
not later than 5 years after the date of the referendum |
approving the issuance of the bonds, but the aggregate |
principal amount issued in all such bond issuances |
combined must not exceed $3,975,000. |
(4) The bonds are issued in accordance with this |
Article. |
(5) The proceeds of the bonds are used to accomplish |
only the projects approved by the voters at an election |
held on or after March 19, 2024. |
The debt incurred on any bonds issued under this |
subsection (p-230) and on any bonds issued to refund or |
continue to refund such bonds shall not be considered |
indebtedness for purposes of any statutory debt limit |
limitation. Bonds issued under this subsection (p-230) and any |
bonds issue to refund or continue to refund such bonds must |
mature within not to exceed 25 years from their date, |
notwithstanding any other law, including Section 19-3 of this |
Code, to the contrary. |
(q) A school district must notify the State Board of |
Education prior to issuing any form of long-term or short-term |
debt that will result in outstanding debt that exceeds 75% of |
the debt limit specified in this Section or any other |