99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB4243

Introduced , by Rep. David R. Leitch

SYNOPSIS AS INTRODUCED:

105 ILCS 5/19-1

Amends the School Code with respect to the debt limitations of school districts. Allows Bureau Valley Community Unit School District 340 to issue bonds with an aggregate principal amount not to exceed $25,000,000 if, among other conditions, (i) the voters of the district approve a proposition for the bond issuance at an election held on or after March 15, 2016; (ii) prior to the issuance of the bonds, the school board determines that 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 is required as a result of the age and condition of existing school buildings; and (iii) the bonds are issued, in one or more issuances, on or before July 1, 2021. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and the bonds must mature within not to exceed 30 years from their date. Effective immediately.

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FISCAL NOTE ACT MAY APPLY

A BILL FOR

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1 AN ACT concerning education.

2 Be it enacted by the People of the State of Illinois,

3 represented in the General Assembly:

4 Section 5. The School Code is amended by changing Section

5 19-1 as follows:

6 (105 ILCS 5/19-1)

7 Sec. 19-1. Debt limitations of school districts.

8 (a) School districts shall not be subject to the provisions

9 limiting their indebtedness prescribed in "An Act to limit the

10 indebtedness of counties having a population of less than

11 500,000 and townships, school districts and other municipal

12 corporations having a population of less than 300,000",

13 approved February 15, 1928, as amended.

14 No school districts maintaining grades K through 8 or 9

15 through 12 shall become indebted in any manner or for any

16 purpose to an amount, including existing indebtedness, in the

17 aggregate exceeding 6.9% on the value of the taxable property

18 therein to be ascertained by the last assessment for State and

19 county taxes or, until January 1, 1983, if greater, the sum

20 that is produced by multiplying the school district's 1978

21 equalized assessed valuation by the debt limitation percentage

22 in effect on January 1, 1979, previous to the incurring of such

23 indebtedness.

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1 No school districts maintaining grades K through 12 shall

2 become indebted in any manner or for any purpose to an amount,

3 including existing indebtedness, in the aggregate exceeding

4 13.8% on the value of the taxable property therein to be

5 ascertained by the last assessment for State and county taxes

6 or, until January 1, 1983, if greater, the sum that is produced

7 by multiplying the school district's 1978 equalized assessed

8 valuation by the debt limitation percentage in effect on

9 January 1, 1979, previous to the incurring of such

10 indebtedness.

11 No partial elementary unit district, as defined in Article

12 11E of this Code, shall become indebted in any manner or for

13 any purpose in an amount, including existing indebtedness, in

14 the aggregate exceeding 6.9% of the value of the taxable

15 property of the entire district, to be ascertained by the last

16 assessment for State and county taxes, plus an amount,

17 including existing indebtedness, in the aggregate exceeding

18 6.9% of the value of the taxable property of that portion of

19 the district included in the elementary and high school

20 classification, to be ascertained by the last assessment for

21 State and county taxes. Moreover, no partial elementary unit

22 district, as defined in Article 11E of this Code, shall become

23 indebted on account of bonds issued by the district for high

24 school purposes in the aggregate exceeding 6.9% of the value of

25 the taxable property of the entire district, to be ascertained

26 by the last assessment for State and county taxes, nor shall

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1 the district become indebted on account of bonds issued by the

2 district for elementary purposes in the aggregate exceeding

3 6.9% of the value of the taxable property for that portion of

4 the district included in the elementary and high school

5 classification, to be ascertained by the last assessment for

6 State and county taxes.

7 Notwithstanding the provisions of any other law to the

8 contrary, in any case in which the voters of a school district

9 have approved a proposition for the issuance of bonds of such

10 school district at an election held prior to January 1, 1979,

11 and all of the bonds approved at such election have not been

12 issued, the debt limitation applicable to such school district

13 during the calendar year 1979 shall be computed by multiplying

14 the value of taxable property therein, including personal

15 property, as ascertained by the last assessment for State and

16 county taxes, previous to the incurring of such indebtedness,

17 by the percentage limitation applicable to such school district

18 under the provisions of this subsection (a).

19 (b) Notwithstanding the debt limitation prescribed in

20 subsection (a) of this Section, additional indebtedness may be

21 incurred in an amount not to exceed the estimated cost of

22 acquiring or improving school sites or constructing and

23 equipping additional building facilities under the following

24 conditions:

25 (1) Whenever the enrollment of students for the next

26 school year is estimated by the board of education to

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1 increase over the actual present enrollment by not less

2 than 35% or by not less than 200 students or the actual

3 present enrollment of students has increased over the

4 previous school year by not less than 35% or by not less

5 than 200 students and the board of education determines

6 that additional school sites or building facilities are

7 required as a result of such increase in enrollment; and

8 (2) When the Regional Superintendent of Schools having

9 jurisdiction over the school district and the State

10 Superintendent of Education concur in such enrollment

11 projection or increase and approve the need for such

12 additional school sites or building facilities and the

13 estimated cost thereof; and

14 (3) When the voters in the school district approve a

15 proposition for the issuance of bonds for the purpose of

16 acquiring or improving such needed school sites or

17 constructing and equipping such needed additional building

18 facilities at an election called and held for that purpose.

19 Notice of such an election shall state that the amount of

20 indebtedness proposed to be incurred would exceed the debt

21 limitation otherwise applicable to the school district.

22 The ballot for such proposition shall state what percentage

23 of the equalized assessed valuation will be outstanding in

24 bonds if the proposed issuance of bonds is approved by the

25 voters; or

26 (4) Notwithstanding the provisions of paragraphs (1)

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1 through (3) of this subsection (b), if the school board

2 determines that additional facilities are needed to

3 provide a quality educational program and not less than 2/3

4 of those voting in an election called by the school board

5 on the question approve the issuance of bonds for the

6 construction of such facilities, the school district may

7 issue bonds for this purpose; or

8 (5) Notwithstanding the provisions of paragraphs (1)

9 through (3) of this subsection (b), if (i) the school

10 district has previously availed itself of the provisions of

11 paragraph (4) of this subsection (b) to enable it to issue

12 bonds, (ii) the voters of the school district have not

13 defeated a proposition for the issuance of bonds since the

14 referendum described in paragraph (4) of this subsection

15 (b) was held, (iii) the school board determines that

16 additional facilities are needed to provide a quality

17 educational program, and (iv) a majority of those voting in

18 an election called by the school board on the question

19 approve the issuance of bonds for the construction of such

20 facilities, the school district may issue bonds for this

21 purpose.

22 In no event shall the indebtedness incurred pursuant to

23 this subsection (b) and the existing indebtedness of the school

24 district exceed 15% of the value of the taxable property

25 therein to be ascertained by the last assessment for State and

26 county taxes, previous to the incurring of such indebtedness

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1 or, until January 1, 1983, if greater, the sum that is produced

2 by multiplying the school district's 1978 equalized assessed

3 valuation by the debt limitation percentage in effect on

4 January 1, 1979.

5 The indebtedness provided for by this subsection (b) shall

6 be in addition to and in excess of any other debt limitation.

7 (c) Notwithstanding the debt limitation prescribed in

8 subsection (a) of this Section, in any case in which a public

9 question for the issuance of bonds of a proposed school

10 district maintaining grades kindergarten through 12 received

11 at least 60% of the valid ballots cast on the question at an

12 election held on or prior to November 8, 1994, and in which the

13 bonds approved at such election have not been issued, the

14 school district pursuant to the requirements of Section 11A-10

15 (now repealed) may issue the total amount of bonds approved at

16 such election for the purpose stated in the question.

17 (d) Notwithstanding the debt limitation prescribed in

18 subsection (a) of this Section, a school district that meets

19 all the criteria set forth in paragraphs (1) and (2) of this

20 subsection (d) may incur an additional indebtedness in an

21 amount not to exceed $4,500,000, even though the amount of the

22 additional indebtedness authorized by this subsection (d),

23 when incurred and added to the aggregate amount of indebtedness

24 of the district existing immediately prior to the district

25 incurring the additional indebtedness authorized by this

26 subsection (d), causes the aggregate indebtedness of the

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1 district to exceed the debt limitation otherwise applicable to

2 that district under subsection (a):

3 (1) The additional indebtedness authorized by this

4 subsection (d) is incurred by the school district through

5 the issuance of bonds under and in accordance with Section

6 17-2.11a for the purpose of replacing a school building

7 which, because of mine subsidence damage, has been closed

8 as provided in paragraph (2) of this subsection (d) or

9 through the issuance of bonds under and in accordance with

10 Section 19-3 for the purpose of increasing the size of, or

11 providing for additional functions in, such replacement

12 school buildings, or both such purposes.

13 (2) The bonds issued by the school district as provided

14 in paragraph (1) above are issued for the purposes of

15 construction by the school district of a new school

16 building pursuant to Section 17-2.11, to replace an

17 existing school building that, because of mine subsidence

18 damage, is closed as of the end of the 1992-93 school year

19 pursuant to action of the regional superintendent of

20 schools of the educational service region in which the

21 district is located under Section 3-14.22 or are issued for

22 the purpose of increasing the size of, or providing for

23 additional functions in, the new school building being

24 constructed to replace a school building closed as the

25 result of mine subsidence damage, or both such purposes.

26 (e) (Blank).

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1 (f) Notwithstanding the provisions of subsection (a) of

2 this Section or of any other law, bonds in not to exceed the

3 aggregate amount of $5,500,000 and issued by a school district

4 meeting the following criteria shall not be considered

5 indebtedness for purposes of any statutory limitation and may

6 be issued in an amount or amounts, including existing

7 indebtedness, in excess of any heretofore or hereafter imposed

8 statutory limitation as to indebtedness:

9 (1) At the time of the sale of such bonds, the board of

10 education of the district shall have determined by

11 resolution that the enrollment of students in the district

12 is projected to increase by not less than 7% during each of

13 the next succeeding 2 school years.

14 (2) The board of education shall also determine by

15 resolution that the improvements to be financed with the

16 proceeds of the bonds are needed because of the projected

17 enrollment increases.

18 (3) The board of education shall also determine by

19 resolution that the projected increases in enrollment are

20 the result of improvements made or expected to be made to

21 passenger rail facilities located in the school district.

22 Notwithstanding the provisions of subsection (a) of this

23 Section or of any other law, a school district that has availed

24 itself of the provisions of this subsection (f) prior to July

25 22, 2004 (the effective date of Public Act 93-799) may also

26 issue bonds approved by referendum up to an amount, including

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1 existing indebtedness, not exceeding 25% of the equalized

2 assessed value of the taxable property in the district if all

3 of the conditions set forth in items (1), (2), and (3) of this

4 subsection (f) are met.

5 (g) Notwithstanding the provisions of subsection (a) of

6 this Section or any other law, bonds in not to exceed an

7 aggregate amount of 25% of the equalized assessed value of the

8 taxable property of a school district and issued by a school

9 district meeting the criteria in paragraphs (i) through (iv) of

10 this subsection shall not be considered indebtedness for

11 purposes of any statutory limitation and may be issued pursuant

12 to resolution of the school board in an amount or amounts,

13 including existing indebtedness, in excess of any statutory

14 limitation of indebtedness heretofore or hereafter imposed:

15 (i) The bonds are issued for the purpose of

16 constructing a new high school building to replace two

17 adjacent existing buildings which together house a single

18 high school, each of which is more than 65 years old, and

19 which together are located on more than 10 acres and less

20 than 11 acres of property.

21 (ii) At the time the resolution authorizing the

22 issuance of the bonds is adopted, the cost of constructing

23 a new school building to replace the existing school

24 building is less than 60% of the cost of repairing the

25 existing school building.

26 (iii) The sale of the bonds occurs before July 1, 1997.

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1 (iv) The school district issuing the bonds is a unit

2 school district located in a county of less than 70,000 and

3 more than 50,000 inhabitants, which has an average daily

4 attendance of less than 1,500 and an equalized assessed

5 valuation of less than $29,000,000.

6 (h) Notwithstanding any other provisions of this Section or

7 the provisions of any other law, until January 1, 1998, a

8 community unit school district maintaining grades K through 12

9 may issue bonds up to an amount, including existing

10 indebtedness, not exceeding 27.6% of the equalized assessed

11 value of the taxable property in the district, if all of the

12 following conditions are met:

13 (i) The school district has an equalized assessed

14 valuation for calendar year 1995 of less than $24,000,000;

15 (ii) The bonds are issued for the capital improvement,

16 renovation, rehabilitation, or replacement of existing

17 school buildings of the district, all of which buildings

18 were originally constructed not less than 40 years ago;

19 (iii) The voters of the district approve a proposition

20 for the issuance of the bonds at a referendum held after

21 March 19, 1996; and

22 (iv) The bonds are issued pursuant to Sections 19-2

23 through 19-7 of this Code.

24 (i) Notwithstanding any other provisions of this Section or

25 the provisions of any other law, until January 1, 1998, a

26 community unit school district maintaining grades K through 12

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1 may issue bonds up to an amount, including existing

2 indebtedness, not exceeding 27% of the equalized assessed value

3 of the taxable property in the district, if all of the

4 following conditions are met:

5 (i) The school district has an equalized assessed

6 valuation for calendar year 1995 of less than $44,600,000;

7 (ii) The bonds are issued for the capital improvement,

8 renovation, rehabilitation, or replacement of existing

9 school buildings of the district, all of which existing

10 buildings were originally constructed not less than 80

11 years ago;

12 (iii) The voters of the district approve a proposition

13 for the issuance of the bonds at a referendum held after

14 December 31, 1996; and

15 (iv) The bonds are issued pursuant to Sections 19-2

16 through 19-7 of this Code.

17 (j) Notwithstanding any other provisions of this Section or

18 the provisions of any other law, until January 1, 1999, a

19 community unit school district maintaining grades K through 12

20 may issue bonds up to an amount, including existing

21 indebtedness, not exceeding 27% of the equalized assessed value

22 of the taxable property in the district if all of the following

23 conditions are met:

24 (i) The school district has an equalized assessed

25 valuation for calendar year 1995 of less than $140,000,000

26 and a best 3 months average daily attendance for the

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1 1995-96 school year of at least 2,800;

2 (ii) The bonds are issued to purchase a site and build

3 and equip a new high school, and the school district's

4 existing high school was originally constructed not less

5 than 35 years prior to the sale of the bonds;

6 (iii) At the time of the sale of the bonds, the board

7 of education determines by resolution that a new high

8 school is needed because of projected enrollment

9 increases;

10 (iv) At least 60% of those voting in an election held

11 after December 31, 1996 approve a proposition for the

12 issuance of the bonds; and

13 (v) The bonds are issued pursuant to Sections 19-2

14 through 19-7 of this Code.

15 (k) Notwithstanding the debt limitation prescribed in

16 subsection (a) of this Section, a school district that meets

17 all the criteria set forth in paragraphs (1) through (4) of

18 this subsection (k) may issue bonds to incur an additional

19 indebtedness in an amount not to exceed $4,000,000 even though

20 the amount of the additional indebtedness authorized by this

21 subsection (k), when incurred and added to the aggregate amount

22 of indebtedness of the school district existing immediately

23 prior to the school district incurring such additional

24 indebtedness, causes the aggregate indebtedness of the school

25 district to exceed or increases the amount by which the

26 aggregate indebtedness of the district already exceeds the debt

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1 limitation otherwise applicable to that school district under

2 subsection (a):

3 (1) the school district is located in 2 counties, and a

4 referendum to authorize the additional indebtedness was

5 approved by a majority of the voters of the school district

6 voting on the proposition to authorize that indebtedness;

7 (2) the additional indebtedness is for the purpose of

8 financing a multi-purpose room addition to the existing

9 high school;

10 (3) the additional indebtedness, together with the

11 existing indebtedness of the school district, shall not

12 exceed 17.4% of the value of the taxable property in the

13 school district, to be ascertained by the last assessment

14 for State and county taxes; and

15 (4) the bonds evidencing the additional indebtedness

16 are issued, if at all, within 120 days of the effective

17 date of this amendatory Act of 1998.

18 (l) Notwithstanding any other provisions of this Section or

19 the provisions of any other law, until January 1, 2000, a

20 school district maintaining grades kindergarten through 8 may

21 issue bonds up to an amount, including existing indebtedness,

22 not exceeding 15% of the equalized assessed value of the

23 taxable property in the district if all of the following

24 conditions are met:

25 (i) the district has an equalized assessed valuation

26 for calendar year 1996 of less than $10,000,000;

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1 (ii) the bonds are issued for capital improvement,

2 renovation, rehabilitation, or replacement of one or more

3 school buildings of the district, which buildings were

4 originally constructed not less than 70 years ago;

5 (iii) the voters of the district approve a proposition

6 for the issuance of the bonds at a referendum held on or

7 after March 17, 1998; and

8 (iv) the bonds are issued pursuant to Sections 19-2

9 through 19-7 of this Code.

10 (m) Notwithstanding any other provisions of this Section or

11 the provisions of any other law, until January 1, 1999, an

12 elementary school district maintaining grades K through 8 may

13 issue bonds up to an amount, excluding existing indebtedness,

14 not exceeding 18% of the equalized assessed value of the

15 taxable property in the district, if all of the following

16 conditions are met:

17 (i) The school district has an equalized assessed

18 valuation for calendar year 1995 or less than $7,700,000;

19 (ii) The school district operates 2 elementary

20 attendance centers that until 1976 were operated as the

21 attendance centers of 2 separate and distinct school

22 districts;

23 (iii) The bonds are issued for the construction of a

24 new elementary school building to replace an existing

25 multi-level elementary school building of the school

26 district that is not handicapped accessible at all levels

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1 and parts of which were constructed more than 75 years ago;

2 (iv) The voters of the school district approve a

3 proposition for the issuance of the bonds at a referendum

4 held after July 1, 1998; and

5 (v) The bonds are issued pursuant to Sections 19-2

6 through 19-7 of this Code.

7 (n) Notwithstanding the debt limitation prescribed in

8 subsection (a) of this Section or any other provisions of this

9 Section or of any other law, a school district that meets all

10 of the criteria set forth in paragraphs (i) through (vi) of

11 this subsection (n) may incur additional indebtedness by the

12 issuance of bonds in an amount not exceeding the amount

13 certified by the Capital Development Board to the school

14 district as provided in paragraph (iii) of this subsection (n),

15 even though the amount of the additional indebtedness so

16 authorized, when incurred and added to the aggregate amount of

17 indebtedness of the district existing immediately prior to the

18 district incurring the additional indebtedness authorized by

19 this subsection (n), causes the aggregate indebtedness of the

20 district to exceed the debt limitation otherwise applicable by

21 law to that district:

22 (i) The school district applies to the State Board of

23 Education for a school construction project grant and

24 submits a district facilities plan in support of its

25 application pursuant to Section 5-20 of the School

26 Construction Law.

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1 (ii) The school district's application and facilities

2 plan are approved by, and the district receives a grant

3 entitlement for a school construction project issued by,

4 the State Board of Education under the School Construction

5 Law.

6 (iii) The school district has exhausted its bonding

7 capacity or the unused bonding capacity of the district is

8 less than the amount certified by the Capital Development

9 Board to the district under Section 5-15 of the School

10 Construction Law as the dollar amount of the school

11 construction project's cost that the district will be

12 required to finance with non-grant funds in order to

13 receive a school construction project grant under the

14 School Construction Law.

15 (iv) The bonds are issued for a "school construction

16 project", as that term is defined in Section 5-5 of the

17 School Construction Law, in an amount that does not exceed

18 the dollar amount certified, as provided in paragraph (iii)

19 of this subsection (n), by the Capital Development Board to

20 the school district under Section 5-15 of the School

21 Construction Law.

22 (v) The voters of the district approve a proposition

23 for the issuance of the bonds at a referendum held after

24 the criteria specified in paragraphs (i) and (iii) of this

25 subsection (n) are met.

26 (vi) The bonds are issued pursuant to Sections 19-2

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1 through 19-7 of the School Code.

2 (o) Notwithstanding any other provisions of this Section or

3 the provisions of any other law, until November 1, 2007, a

4 community unit school district maintaining grades K through 12

5 may issue bonds up to an amount, including existing

6 indebtedness, not exceeding 20% of the equalized assessed value

7 of the taxable property in the district if all of the following

8 conditions are met:

9 (i) the school district has an equalized assessed

10 valuation for calendar year 2001 of at least $737,000,000

11 and an enrollment for the 2002-2003 school year of at least

12 8,500;

13 (ii) the bonds are issued to purchase school sites,

14 build and equip a new high school, build and equip a new

15 junior high school, build and equip 5 new elementary

16 schools, and make technology and other improvements and

17 additions to existing schools;

18 (iii) at the time of the sale of the bonds, the board

19 of education determines by resolution that the sites and

20 new or improved facilities are needed because of projected

21 enrollment increases;

22 (iv) at least 57% of those voting in a general election

23 held prior to January 1, 2003 approved a proposition for

24 the issuance of the bonds; and

25 (v) the bonds are issued pursuant to Sections 19-2

26 through 19-7 of this Code.

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1 (p) Notwithstanding any other provisions of this Section or

2 the provisions of any other law, a community unit school

3 district maintaining grades K through 12 may issue bonds up to

4 an amount, including indebtedness, not exceeding 27% of the

5 equalized assessed value of the taxable property in the

6 district if all of the following conditions are met:

7 (i) The school district has an equalized assessed

8 valuation for calendar year 2001 of at least $295,741,187

9 and a best 3 months' average daily attendance for the

10 2002-2003 school year of at least 2,394.

11 (ii) The bonds are issued to build and equip 3

12 elementary school buildings; build and equip one middle

13 school building; and alter, repair, improve, and equip all

14 existing school buildings in the district.

15 (iii) At the time of the sale of the bonds, the board

16 of education determines by resolution that the project is

17 needed because of expanding growth in the school district

18 and a projected enrollment increase.

19 (iv) The bonds are issued pursuant to Sections 19-2

20 through 19-7 of this Code.

21 (p-5) Notwithstanding any other provisions of this Section

22 or the provisions of any other law, bonds issued by a community

23 unit school district maintaining grades K through 12 shall not

24 be considered indebtedness for purposes of any statutory

25 limitation and may be issued in an amount or amounts, including

26 existing indebtedness, in excess of any heretofore or hereafter

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1 imposed statutory limitation as to indebtedness, if all of the

2 following conditions are met:

3 (i) For each of the 4 most recent years, residential

4 property comprises more than 80% of the equalized assessed

5 valuation of the district.

6 (ii) At least 2 school buildings that were constructed

7 40 or more years prior to the issuance of the bonds will be

8 demolished and will be replaced by new buildings or

9 additions to one or more existing buildings.

10 (iii) Voters of the district approve a proposition for

11 the issuance of the bonds at a regularly scheduled

12 election.

13 (iv) At the time of the sale of the bonds, the school

14 board determines by resolution that the new buildings or

15 building additions are needed because of an increase in

16 enrollment projected by the school board.

17 (v) The principal amount of the bonds, including

18 existing indebtedness, does not exceed 25% of the equalized

19 assessed value of the taxable property in the district.

20 (vi) The bonds are issued prior to January 1, 2007,

21 pursuant to Sections 19-2 through 19-7 of this Code.

22 (p-10) Notwithstanding any other provisions of this

23 Section or the provisions of any other law, bonds issued by a

24 community consolidated school district maintaining grades K

25 through 8 shall not be considered indebtedness for purposes of

26 any statutory limitation and may be issued in an amount or

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1 amounts, including existing indebtedness, in excess of any

2 heretofore or hereafter imposed statutory limitation as to

3 indebtedness, if all of the following conditions are met:

4 (i) For each of the 4 most recent years, residential

5 and farm property comprises more than 80% of the equalized

6 assessed valuation of the district.

7 (ii) The bond proceeds are to be used to acquire and

8 improve school sites and build and equip a school building.

9 (iii) Voters of the district approve a proposition for

10 the issuance of the bonds at a regularly scheduled

11 election.

12 (iv) At the time of the sale of the bonds, the school

13 board determines by resolution that the school sites and

14 building additions are needed because of an increase in

15 enrollment projected by the school board.

16 (v) The principal amount of the bonds, including

17 existing indebtedness, does not exceed 20% of the equalized

18 assessed value of the taxable property in the district.

19 (vi) The bonds are issued prior to January 1, 2007,

20 pursuant to Sections 19-2 through 19-7 of this Code.

21 (p-15) In addition to all other authority to issue bonds,

22 the Oswego Community Unit School District Number 308 may issue

23 bonds with an aggregate principal amount not to exceed

24 $450,000,000, but only if all of the following conditions are

25 met:

26 (i) The voters of the district have approved a

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1 proposition for the bond issue at the general election held

2 on November 7, 2006.

3 (ii) At the time of the sale of the bonds, the school

4 board determines, by resolution, that: (A) the building and

5 equipping of the new high school building, new junior high

6 school buildings, new elementary school buildings, early

7 childhood building, maintenance building, transportation

8 facility, and additions to existing school buildings, the

9 altering, repairing, equipping, and provision of

10 technology improvements to existing school buildings, and

11 the acquisition and improvement of school sites, as the

12 case may be, are required as a result of a projected

13 increase in the enrollment of students in the district; and

14 (B) the sale of bonds for these purposes is authorized by

15 legislation that exempts the debt incurred on the bonds

16 from the district's statutory debt limitation.

17 (iii) The bonds are issued, in one or more bond issues,

18 on or before November 7, 2011, but the aggregate principal

19 amount issued in all such bond issues combined must not

20 exceed $450,000,000.

21 (iv) The bonds are issued in accordance with this

22 Article 19.

23 (v) The proceeds of the bonds are used only to

24 accomplish those projects approved by the voters at the

25 general election held on November 7, 2006.

26 The debt incurred on any bonds issued under this subsection

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1 (p-15) shall not be considered indebtedness for purposes of any

2 statutory debt limitation.

3 (p-20) In addition to all other authority to issue bonds,

4 the Lincoln-Way Community High School District Number 210 may

5 issue bonds with an aggregate principal amount not to exceed

6 $225,000,000, but only if all of the following conditions are

7 met:

8 (i) The voters of the district have approved a

9 proposition for the bond issue at the general primary

10 election held on March 21, 2006.

11 (ii) At the time of the sale of the bonds, the school

12 board determines, by resolution, that: (A) the building and

13 equipping of the new high school buildings, the altering,

14 repairing, and equipping of existing school buildings, and

15 the improvement of school sites, as the case may be, are

16 required as a result of a projected increase in the

17 enrollment of students in the district; and (B) the sale of

18 bonds for these purposes is authorized by legislation that

19 exempts the debt incurred on the bonds from the district's

20 statutory debt limitation.

21 (iii) The bonds are issued, in one or more bond issues,

22 on or before March 21, 2011, but the aggregate principal

23 amount issued in all such bond issues combined must not

24 exceed $225,000,000.

25 (iv) The bonds are issued in accordance with this

26 Article 19.

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1 (v) The proceeds of the bonds are used only to

2 accomplish those projects approved by the voters at the

3 primary election held on March 21, 2006.

4 The debt incurred on any bonds issued under this subsection

5 (p-20) shall not be considered indebtedness for purposes of any

6 statutory debt limitation.

7 (p-25) In addition to all other authority to issue bonds,

8 Rochester Community Unit School District 3A may issue bonds

9 with an aggregate principal amount not to exceed $18,500,000,

10 but only if all of the following conditions are met:

11 (i) The voters of the district approve a proposition

12 for the bond issuance at the general primary election held

13 in 2008.

14 (ii) At the time of the sale of the bonds, the school

15 board determines, by resolution, that: (A) the building and

16 equipping of a new high school building; the addition of

17 classrooms and support facilities at the high school,

18 middle school, and elementary school; the altering,

19 repairing, and equipping of existing school buildings; and

20 the improvement of school sites, as the case may be, are

21 required as a result of a projected increase in the

22 enrollment of students in the district; and (B) the sale of

23 bonds for these purposes is authorized by a law that

24 exempts the debt incurred on the bonds from the district's

25 statutory debt limitation.

26 (iii) The bonds are issued, in one or more bond issues,

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1 on or before December 31, 2012, but the aggregate principal

2 amount issued in all such bond issues combined must not

3 exceed $18,500,000.

4 (iv) The bonds are issued in accordance with this

5 Article 19.

6 (v) The proceeds of the bonds are used to accomplish

7 only those projects approved by the voters at the primary

8 election held in 2008.

9 The debt incurred on any bonds issued under this subsection

10 (p-25) shall not be considered indebtedness for purposes of any

11 statutory debt limitation.

12 (p-30) In addition to all other authority to issue bonds,

13 Prairie Grove Consolidated School District 46 may issue bonds

14 with an aggregate principal amount not to exceed $30,000,000,

15 but only if all of the following conditions are met:

16 (i) The voters of the district approve a proposition

17 for the bond issuance at an election held in 2008.

18 (ii) At the time of the sale of the bonds, the school

19 board determines, by resolution, that (A) the building and

20 equipping of a new school building and additions to

21 existing school buildings are required as a result of a

22 projected increase in the enrollment of students in the

23 district and (B) the altering, repairing, and equipping of

24 existing school buildings are required because of the age

25 of the existing school buildings.

26 (iii) The bonds are issued, in one or more bond

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1 issuances, on or before December 31, 2012; however, the

2 aggregate principal amount issued in all such bond

3 issuances combined must not exceed $30,000,000.

4 (iv) The bonds are issued in accordance with this

5 Article.

6 (v) The proceeds of the bonds are used to accomplish

7 only those projects approved by the voters at an election

8 held in 2008.

9 The debt incurred on any bonds issued under this subsection

10 (p-30) shall not be considered indebtedness for purposes of any

11 statutory debt limitation.

12 (p-35) In addition to all other authority to issue bonds,

13 Prairie Hill Community Consolidated School District 133 may

14 issue bonds with an aggregate principal amount not to exceed

15 $13,900,000, but only if all of the following conditions are

16 met:

17 (i) The voters of the district approved a proposition

18 for the bond issuance at an election held on April 17,

19 2007.

20 (ii) At the time of the sale of the bonds, the school

21 board determines, by resolution, that (A) the improvement

22 of the site of and the building and equipping of a school

23 building are required as a result of a projected increase

24 in the enrollment of students in the district and (B) the

25 repairing and equipping of the Prairie Hill Elementary

26 School building is required because of the age of that

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1 school building.

2 (iii) The bonds are issued, in one or more bond

3 issuances, on or before December 31, 2011, but the

4 aggregate principal amount issued in all such bond

5 issuances combined must not exceed $13,900,000.

6 (iv) The bonds are issued in accordance with this

7 Article.

8 (v) The proceeds of the bonds are used to accomplish

9 only those projects approved by the voters at an election

10 held on April 17, 2007.

11 The debt incurred on any bonds issued under this subsection

12 (p-35) shall not be considered indebtedness for purposes of any

13 statutory debt limitation.

14 (p-40) In addition to all other authority to issue bonds,

15 Mascoutah Community Unit District 19 may issue bonds with an

16 aggregate principal amount not to exceed $55,000,000, but only

17 if all of the following conditions are met:

18 (1) The voters of the district approve a proposition

19 for the bond issuance at a regular election held on or

20 after November 4, 2008.

21 (2) At the time of the sale of the bonds, the school

22 board determines, by resolution, that (i) the building and

23 equipping of a new high school building is required as a

24 result of a projected increase in the enrollment of

25 students in the district and the age and condition of the

26 existing high school building, (ii) the existing high

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1 school building will be demolished, and (iii) the sale of

2 bonds is authorized by statute that exempts the debt

3 incurred on the bonds from the district's statutory debt

4 limitation.

5 (3) The bonds are issued, in one or more bond

6 issuances, on or before December 31, 2011, but the

7 aggregate principal amount issued in all such bond

8 issuances combined must not exceed $55,000,000.

9 (4) The bonds are issued in accordance with this

10 Article.

11 (5) The proceeds of the bonds are used to accomplish

12 only those projects approved by the voters at a regular

13 election held on or after November 4, 2008.

14 The debt incurred on any bonds issued under this subsection

15 (p-40) shall not be considered indebtedness for purposes of any

16 statutory debt limitation.

17 (p-45) Notwithstanding the provisions of subsection (a) of

18 this Section or of any other law, bonds issued pursuant to

19 Section 19-3.5 of this Code shall not be considered

20 indebtedness for purposes of any statutory limitation if the

21 bonds are issued in an amount or amounts, including existing

22 indebtedness of the school district, not in excess of 18.5% of

23 the value of the taxable property in the district to be

24 ascertained by the last assessment for State and county taxes.

25 (p-50) Notwithstanding the provisions of subsection (a) of

26 this Section or of any other law, bonds issued pursuant to

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1 Section 19-3.10 of this Code shall not be considered

2 indebtedness for purposes of any statutory limitation if the

3 bonds are issued in an amount or amounts, including existing

4 indebtedness of the school district, not in excess of 43% of

5 the value of the taxable property in the district to be

6 ascertained by the last assessment for State and county taxes.

7 (p-55) In addition to all other authority to issue bonds,

8 Belle Valley School District 119 may issue bonds with an

9 aggregate principal amount not to exceed $47,500,000, but only

10 if all of the following conditions are met:

11 (1) The voters of the district approve a proposition

12 for the bond issuance at an election held on or after April

13 7, 2009.

14 (2) Prior to the issuance of the bonds, the school

15 board determines, by resolution, that (i) the building and

16 equipping of a new school building is required as a result

17 of mine subsidence in an existing school building and

18 because of the age and condition of another existing school

19 building and (ii) the issuance of bonds is authorized by

20 statute that exempts the debt incurred on the bonds from

21 the district's statutory debt limitation.

22 (3) The bonds are issued, in one or more bond

23 issuances, on or before March 31, 2014, but the aggregate

24 principal amount issued in all such bond issuances combined

25 must not exceed $47,500,000.

26 (4) The bonds are issued in accordance with this

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1 Article.

2 (5) The proceeds of the bonds are used to accomplish

3 only those projects approved by the voters at an election

4 held on or after April 7, 2009.

5 The debt incurred on any bonds issued under this subsection

6 (p-55) shall not be considered indebtedness for purposes of any

7 statutory debt limitation. Bonds issued under this subsection

8 (p-55) must mature within not to exceed 30 years from their

9 date, notwithstanding any other law to the contrary.

10 (p-60) In addition to all other authority to issue bonds,

11 Wilmington Community Unit School District Number 209-U may

12 issue bonds with an aggregate principal amount not to exceed

13 $2,285,000, but only if all of the following conditions are

14 met:

15 (1) The proceeds of the bonds are used to accomplish

16 only those projects approved by the voters at the general

17 primary election held on March 21, 2006.

18 (2) Prior to the issuance of the bonds, the school

19 board determines, by resolution, that (i) the projects

20 approved by the voters were and are required because of the

21 age and condition of the school district's prior and

22 existing school buildings and (ii) the issuance of the

23 bonds is authorized by legislation that exempts the debt

24 incurred on the bonds from the district's statutory debt

25 limitation.

26 (3) The bonds are issued in one or more bond issuances

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1 on or before March 1, 2011, but the aggregate principal

2 amount issued in all those bond issuances combined must not

3 exceed $2,285,000.

4 (4) The bonds are issued in accordance with this

5 Article.

6 The debt incurred on any bonds issued under this subsection

7 (p-60) shall not be considered indebtedness for purposes of any

8 statutory debt limitation.

9 (p-65) In addition to all other authority to issue bonds,

10 West Washington County Community Unit School District 10 may

11 issue bonds with an aggregate principal amount not to exceed

12 $32,200,000 and maturing over a period not exceeding 25 years,

13 but only if all of the following conditions are met:

14 (1) The voters of the district approve a proposition

15 for the bond issuance at an election held on or after

16 February 2, 2010.

17 (2) Prior to the issuance of the bonds, the school

18 board determines, by resolution, that (A) all or a portion

19 of the existing Okawville Junior/Senior High School

20 Building will be demolished; (B) the building and equipping

21 of a new school building to be attached to and the

22 alteration, repair, and equipping of the remaining portion

23 of the Okawville Junior/Senior High School Building is

24 required because of the age and current condition of that

25 school building; and (C) the issuance of bonds is

26 authorized by a statute that exempts the debt incurred on

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1 the bonds from the district's statutory debt limitation.

2 (3) The bonds are issued, in one or more bond

3 issuances, on or before March 31, 2014, but the aggregate

4 principal amount issued in all such bond issuances combined

5 must not exceed $32,200,000.

6 (4) The bonds are issued in accordance with this

7 Article.

8 (5) The proceeds of the bonds are used to accomplish

9 only those projects approved by the voters at an election

10 held on or after February 2, 2010.

11 The debt incurred on any bonds issued under this subsection

12 (p-65) shall not be considered indebtedness for purposes of any

13 statutory debt limitation.

14 (p-70) In addition to all other authority to issue bonds,

15 Cahokia Community Unit School District 187 may issue bonds with

16 an aggregate principal amount not to exceed $50,000,000, but

17 only if all the following conditions are met:

18 (1) The voters of the district approve a proposition

19 for the bond issuance at an election held on or after

20 November 2, 2010.

21 (2) Prior to the issuance of the bonds, the school

22 board determines, by resolution, that (i) the building and

23 equipping of a new school building is required as a result

24 of the age and condition of an existing school building and

25 (ii) the issuance of bonds is authorized by a statute that

26 exempts the debt incurred on the bonds from the district's

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1 statutory debt limitation.

2 (3) The bonds are issued, in one or more issuances, on

3 or before July 1, 2016, but the aggregate principal amount

4 issued in all such bond issuances combined must not exceed

5 $50,000,000.

6 (4) The bonds are issued in accordance with this

7 Article.

8 (5) The proceeds of the bonds are used to accomplish

9 only those projects approved by the voters at an election

10 held on or after November 2, 2010.

11 The debt incurred on any bonds issued under this subsection

12 (p-70) shall not be considered indebtedness for purposes of any

13 statutory debt limitation. Bonds issued under this subsection

14 (p-70) must mature within not to exceed 25 years from their

15 date, notwithstanding any other law, including Section 19-3 of

16 this Code, to the contrary.

17 (p-75) Notwithstanding the debt limitation prescribed in

18 subsection (a) of this Section or any other provisions of this

19 Section or of any other law, the execution of leases on or

20 after January 1, 2007 and before July 1, 2011 by the Board of

21 Education of Peoria School District 150 with a public building

22 commission for leases entered into pursuant to the Public

23 Building Commission Act shall not be considered indebtedness

24 for purposes of any statutory debt limitation.

25 This subsection (p-75) applies only if the State Board of

26 Education or the Capital Development Board makes one or more

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1 grants to Peoria School District 150 pursuant to the School

2 Construction Law. The amount exempted from the debt limitation

3 as prescribed in this subsection (p-75) shall be no greater

4 than the amount of one or more grants awarded to Peoria School

5 District 150 by the State Board of Education or the Capital

6 Development Board.

7 (p-80) In addition to all other authority to issue bonds,

8 Ridgeland School District 122 may issue bonds with an aggregate

9 principal amount not to exceed $50,000,000 for the purpose of

10 refunding or continuing to refund bonds originally issued

11 pursuant to voter approval at the general election held on

12 November 7, 2000, and the debt incurred on any bonds issued

13 under this subsection (p-80) shall not be considered

14 indebtedness for purposes of any statutory debt limitation.

15 Bonds issued under this subsection (p-80) may be issued in one

16 or more issuances and must mature within not to exceed 25 years

17 from their date, notwithstanding any other law, including

18 Section 19-3 of this Code, to the contrary.

19 (p-85) In addition to all other authority to issue bonds,

20 Hall High School District 502 may issue bonds with an aggregate

21 principal amount not to exceed $32,000,000, but only if all the

22 following conditions are met:

23 (1) The voters of the district approve a proposition

24 for the bond issuance at an election held on or after April

25 9, 2013.

26 (2) Prior to the issuance of the bonds, the school

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1 board determines, by resolution, that (i) the building and

2 equipping of a new school building is required as a result

3 of the age and condition of an existing school building,

4 (ii) the existing school building should be demolished in

5 its entirety or the existing school building should be

6 demolished except for the 1914 west wing of the building,

7 and (iii) the issuance of bonds is authorized by a statute

8 that exempts the debt incurred on the bonds from the

9 district's statutory debt limitation.

10 (3) The bonds are issued, in one or more issuances, not

11 later than 5 years after the date of the referendum

12 approving the issuance of the bonds, but the aggregate

13 principal amount issued in all such bond issuances combined

14 must not exceed $32,000,000.

15 (4) The bonds are issued in accordance with this

16 Article.

17 (5) The proceeds of the bonds are used to accomplish

18 only those projects approved by the voters at an election

19 held on or after April 9, 2013.

20 The debt incurred on any bonds issued under this subsection

21 (p-85) shall not be considered indebtedness for purposes of any

22 statutory debt limitation. Bonds issued under this subsection

23 (p-85) must mature within not to exceed 30 years from their

24 date, notwithstanding any other law, including Section 19-3 of

25 this Code, to the contrary.

26 (p-90) In addition to all other authority to issue bonds,

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1 Lebanon Community Unit School District 9 may issue bonds with

2 an aggregate principal amount not to exceed $7,500,000, but

3 only if all of the following conditions are met:

4 (1) The voters of the district approved a proposition

5 for the bond issuance at the general primary election on

6 February 2, 2010.

7 (2) At or prior to the time of the sale of the bonds,

8 the school board determines, by resolution, that (i) the

9 building and equipping of a new elementary school building

10 is required as a result of a projected increase in the

11 enrollment of students in the district and the age and

12 condition of the existing Lebanon Elementary School

13 building, (ii) a portion of the existing Lebanon Elementary

14 School building will be demolished and the remaining

15 portion will be altered, repaired, and equipped, and (iii)

16 the sale of bonds is authorized by a statute that exempts

17 the debt incurred on the bonds from the district's

18 statutory debt limitation.

19 (3) The bonds are issued, in one or more bond

20 issuances, on or before April 1, 2014, but the aggregate

21 principal amount issued in all such bond issuances combined

22 must not exceed $7,500,000.

23 (4) The bonds are issued in accordance with this

24 Article.

25 (5) The proceeds of the bonds are used to accomplish

26 only those projects approved by the voters at the general

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1 primary election held on February 2, 2010.

2 The debt incurred on any bonds issued under this subsection

3 (p-90) shall not be considered indebtedness for purposes of any

4 statutory debt limitation.

5 (p-95) In addition to all other authority to issue bonds,

6 Monticello Community Unit School District 25 may issue bonds

7 with an aggregate principal amount not to exceed $35,000,000,

8 but only if all of the following conditions are met:

9 (1) The voters of the district approve a proposition

10 for the bond issuance at an election held on or after

11 November 4, 2014.

12 (2) Prior to the issuance of the bonds, the school

13 board determines, by resolution, that (i) the building and

14 equipping of a new school building is required as a result

15 of the age and condition of an existing school building and

16 (ii) the issuance of bonds is authorized by a statute that

17 exempts the debt incurred on the bonds from the district's

18 statutory debt limitation.

19 (3) The bonds are issued, in one or more issuances, on

20 or before July 1, 2020, but the aggregate principal amount

21 issued in all such bond issuances combined must not exceed

22 $35,000,000.

23 (4) The bonds are issued in accordance with this

24 Article.

25 (5) The proceeds of the bonds are used to accomplish

26 only those projects approved by the voters at an election

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1 held on or after November 4, 2014.

2 The debt incurred on any bonds issued under this subsection

3 (p-95) shall not be considered indebtedness for purposes of any

4 statutory debt limitation. Bonds issued under this subsection

5 (p-95) must mature within not to exceed 25 years from their

6 date, notwithstanding any other law, including Section 19-3 of

7 this Code, to the contrary.

8 (p-100) ~~(p-95)~~ In addition to all other authority to issue

9 bonds, the community unit school district created in the

10 territory comprising Milford Community Consolidated School

11 District 280 and Milford Township High School District 233, as

12 approved at the general primary election held on March 18,

13 2014, may issue bonds with an aggregate principal amount not to

14 exceed $17,500,000, but only if all the following conditions

15 are met:

16 (1) The voters of the district approve a proposition

17 for the bond issuance at an election held on or after

18 November 4, 2014.

19 (2) Prior to the issuance of the bonds, the school

20 board determines, by resolution, that (i) the building and

21 equipping of a new school building is required as a result

22 of the age and condition of an existing school building and

23 (ii) the issuance of bonds is authorized by a statute that

24 exempts the debt incurred on the bonds from the district's

25 statutory debt limitation.

26 (3) The bonds are issued, in one or more issuances, on

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1 or before July 1, 2020, but the aggregate principal amount

2 issued in all such bond issuances combined must not exceed

3 $17,500,000.

4 (4) The bonds are issued in accordance with this

5 Article.

6 (5) The proceeds of the bonds are used to accomplish

7 only those projects approved by the voters at an election

8 held on or after November 4, 2014.

9 The debt incurred on any bonds issued under this subsection

10 (p-100) ~~(p-95)~~ shall not be considered indebtedness for

11 purposes of any statutory debt limitation. Bonds issued under

12 this subsection (p-100) ~~(p-95)~~ must mature within not to exceed

13 25 years from their date, notwithstanding any other law,

14 including Section 19-3 of this Code, to the contrary.

15 (p-105) In addition to all other authority to issue bonds,

16 Bureau Valley Community Unit School District 340 may issue

17 bonds with an aggregate principal amount not to exceed

18 $25,000,000, but only if all of the following conditions are

19 met:

20 (1) The voters of the district approve a proposition

21 for the bond issuance at an election held on or after March

22 15, 2016.

23 (2) Prior to the issuances of the bonds, the school

24 board determines, by resolution, that (i) the renovating

25 and equipping of some existing school buildings, the

26 building and equipping of new school buildings, and the

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1 demolishing of some existing school buildings is required

2 as a result of the age and condition of existing school

3 buildings and (ii) the issuance of bonds is authorized by a

4 statute that exempts the debt incurred on the bonds from

5 the district's statutory debt limitation.

6 (3) The bonds are issued, in one or more issuances, on

7 or before July 1, 2021, but the aggregate principal amount

8 issued in all such bond issuances combined must not exceed

9 $25,000,000.

10 (4) The bonds are issued in accordance with this

11 Article.

12 (5) The proceeds of the bonds are used to accomplish

13 only those projects approved by the voters at an election

14 held on or after March 15, 2016.

15 The debt incurred on any bonds issued under thus subsection

16 (p-105) shall not be considered indebtedness for purposes of

17 any statutory debt limitation. Bonds issued under this

18 subsection (p-105) must mature within not to exceed 30 years

19 from their date, notwithstanding any other law, including

20 Section 19-3 of this Code, to the contrary.

21 (q) A school district must notify the State Board of

22 Education prior to issuing any form of long-term or short-term

23 debt that will result in outstanding debt that exceeds 75% of

24 the debt limit specified in this Section or any other provision

25 of law.

26 (Source: P.A. 97-333, eff. 8-12-11; 97-834, eff. 7-20-12;

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1 97-1146, eff. 1-18-13; 98-617, eff. 1-7-14; 98-912, eff.

2 8-15-14; 98-916, eff. 8-15-14; revised 10-1-14.)

3 Section 99. Effective date. This Act takes effect upon

4 becoming law.