99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB1453
 
Introduced 2/20/2015, by Sen. Julie A. Morrison
 
SYNOPSIS AS INTRODUCED:



 
105 ILCS 5/19-1

 Amends the School Code. In a Section concerning the debt limitations of school districts, provides that, in addition to all other authority to issue bonds, North Shore School District 112 may issue bonds with an aggregate principal amount not to exceed $150,000,000 if certain conditions are met, including (1) that the voters of the district approve a proposition for the bond issuance at an election held on or after March 15, 2016 and (2) that, prior to the issuance of the bonds, the school board determines, by resolution, that 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. Provides that the debt incurred on the bonds 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 and that the bonds 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 to the contrary.



LRB099 09466 NHT 29674 b


FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 


SB1453LRB099 09466 NHT 29674 b



1 AN ACT concerning education.


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

3represented in the General Assembly:



4 Section 5. The School Code is amended by changing Section 
519-1 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 
9limiting their
indebtedness prescribed in "An Act to limit the 
10indebtedness of counties having
a population of less than 
11500,000 and townships, school districts and other
municipal 
12corporations having a population of less than 300,000", 
13approved
February 15, 1928, as amended.

14 No school districts maintaining grades K through 8 or 9 
15through 12
shall become indebted in any manner or for any 
16purpose to an amount,
including existing indebtedness, in the 
17aggregate exceeding 6.9% on the
value of the taxable property 
18therein to be ascertained by the last assessment
for State and 
19county taxes or, until January 1, 1983, if greater, the sum 
20that
is produced by multiplying the school district's 1978 
21equalized assessed
valuation by the debt limitation percentage 
22in effect on January 1, 1979,
previous to the incurring of such 
23indebtedness.

 
 
SB1453- 2 -LRB099 09466 NHT 29674 b


1 No school districts maintaining grades K through 12 shall 
2become
indebted in any manner or for any purpose to an amount, 
3including
existing indebtedness, in the aggregate exceeding 
413.8% on the value of
the taxable property therein to be 
5ascertained by the last assessment
for State and county taxes 
6or, until January 1, 1983, if greater, the sum that
is produced 
7by multiplying the school district's 1978 equalized assessed

8valuation by the debt limitation percentage in effect on 
9January 1, 1979,
previous to the incurring of such 
10indebtedness.

11 No partial elementary unit district, as defined in Article 
1211E of this Code, shall become indebted in any manner or for 
13any purpose in an amount, including existing indebtedness, in 
14the aggregate exceeding 6.9% of the value of the taxable 
15property of the entire district, to be ascertained by the last 
16assessment for State and county taxes, plus an amount, 
17including existing indebtedness, in the aggregate exceeding 
186.9% of the value of the taxable property of that portion of 
19the district included in the elementary and high school 
20classification, to be ascertained by the last assessment for 
21State and county taxes. Moreover, no partial elementary unit 
22district, as defined in Article 11E of this Code, shall become 
23indebted on account of bonds issued by the district for high 
24school purposes in the aggregate exceeding 6.9% of the value of 
25the taxable property of the entire district, to be ascertained 
26by the last assessment for State and county taxes, nor shall 
 
 
SB1453- 3 -LRB099 09466 NHT 29674 b


1the district become indebted on account of bonds issued by the 
2district for elementary purposes in the aggregate exceeding 
36.9% of the value of the taxable property for that portion of 
4the district included in the elementary and high school 
5classification, to be ascertained by the last assessment for 
6State and county taxes.

7 Notwithstanding the provisions of any other law to the 
8contrary, in any
case in which the voters of a school district 
9have approved a proposition
for the issuance of bonds of such 
10school district at an election held prior
to January 1, 1979, 
11and all of the bonds approved at such election have
not been 
12issued, the debt limitation applicable to such school district

13during the calendar year 1979 shall be computed by multiplying 
14the value
of taxable property therein, including personal 
15property, as ascertained
by the last assessment for State and 
16county taxes, previous to the incurring
of such indebtedness, 
17by the percentage limitation applicable to such school
district 
18under the provisions of this subsection (a).

19 (b) Notwithstanding the debt limitation prescribed in 
20subsection (a)
of this Section, additional indebtedness may be 
21incurred in an amount
not to exceed the estimated cost of 
22acquiring or improving school sites
or constructing and 
23equipping additional building facilities under the
following 
24conditions:

25  (1) Whenever the enrollment of students for the next 
26 school year is
estimated by the board of education to 
 
 
SB1453- 4 -LRB099 09466 NHT 29674 b


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) 
 
 
SB1453- 5 -LRB099 09466 NHT 29674 b


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 
23this
subsection (b) and the existing indebtedness of the school 
24district
exceed 15% of the value of the taxable property 
25therein to be
ascertained by the last assessment for State and 
26county taxes, previous
to the incurring of such indebtedness 
 
 
SB1453- 6 -LRB099 09466 NHT 29674 b


1or, until January 1, 1983, if greater,
the sum that is produced 
2by multiplying the school district's 1978 equalized
assessed 
3valuation by the debt limitation percentage in effect on 
4January 1,
1979.

5 The indebtedness provided for by this subsection (b) shall 
6be in
addition to and in excess of any other debt limitation.

7 (c) Notwithstanding the debt limitation prescribed in 
8subsection (a)
of this Section, in any case in which a public 
9question for the issuance
of bonds of a proposed school 
10district maintaining grades kindergarten
through 12 received 
11at least 60% of the valid ballots cast on the question at
an 
12election held on or prior to November 8, 1994, and in which the 
13bonds
approved at such election have not been issued, the 
14school district pursuant to
the requirements of Section 11A-10 
15(now repealed) may issue the total amount of bonds approved
at 
16such election for the purpose stated in the question.

17 (d) Notwithstanding the debt limitation prescribed in 
18subsection (a)
of this Section, a school district that meets 
19all the criteria set forth in
paragraphs (1) and (2) of this 
20subsection (d) may incur an additional
indebtedness in an 
21amount not to exceed $4,500,000, even though the amount of
the 
22additional indebtedness authorized by this subsection (d), 
23when incurred
and added to the aggregate amount of indebtedness 
24of the district existing
immediately prior to the district 
25incurring the additional indebtedness
authorized by this 
26subsection (d), causes the aggregate indebtedness of the

 
 
SB1453- 7 -LRB099 09466 NHT 29674 b


1district to exceed the debt limitation otherwise applicable to 
2that 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).

 
 
SB1453- 8 -LRB099 09466 NHT 29674 b


1 (f) Notwithstanding the provisions of subsection (a) of 
2this Section or of
any other law, bonds in not to exceed the 
3aggregate amount of $5,500,000 and
issued by a school district 
4meeting the following criteria shall not be
considered 
5indebtedness for purposes of any statutory limitation and may 
6be
issued in an amount or amounts, including existing 
7indebtedness, in excess of
any heretofore or hereafter imposed 
8statutory 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 
23Section or of any other law, a school district that has availed 
24itself of the provisions of this subsection (f) prior to July 
2522, 2004 (the effective date of Public Act 93-799) may also 
26issue bonds approved by referendum up to an amount, including 
 
 
SB1453- 9 -LRB099 09466 NHT 29674 b


1existing indebtedness, not exceeding 25% of the equalized 
2assessed value of the taxable property in the district if all 
3of the conditions set forth in items (1), (2), and (3) of this 
4subsection (f) are met.

5 (g) Notwithstanding the provisions of subsection (a) of 
6this Section or any
other law, bonds in not to exceed an 
7aggregate amount of 25% of the equalized
assessed value of the 
8taxable property of a school district and issued by a
school 
9district meeting the criteria in paragraphs (i) through (iv) of 
10this
subsection shall not be considered indebtedness for 
11purposes of any statutory
limitation and may be issued pursuant 
12to resolution of the school board in an
amount or amounts, 
13including existing indebtedness, in
excess of any statutory 
14limitation 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.

 
 
SB1453- 10 -LRB099 09466 NHT 29674 b


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 
7the
provisions of any other law, until January 1, 1998, a 
8community unit school
district maintaining grades K through 12 
9may issue bonds up to an amount,
including existing 
10indebtedness, not exceeding 27.6% of the equalized assessed

11value of the taxable property in the district, if all of the 
12following
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 
25the provisions
of any other law, until January 1, 1998, a 
26community unit school district
maintaining grades K through 12 
 
 
SB1453- 11 -LRB099 09466 NHT 29674 b


1may issue bonds up to an amount, including
existing 
2indebtedness, not exceeding 27% of the equalized assessed value 
3of the
taxable property in the district, if all of the 
4following 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 
18the
provisions of any other law, until January 1, 1999, a 
19community unit school
district maintaining grades K through 12 
20may issue bonds up to an amount,
including existing 
21indebtedness, not exceeding 27% of the equalized assessed
value 
22of the taxable property in the district if all of the following

23conditions 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 
 
 
SB1453- 12 -LRB099 09466 NHT 29674 b


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 
16subsection (a) of
this Section, a school district that meets 
17all the criteria set forth in
paragraphs (1) through (4) of 
18this subsection (k) may issue bonds to incur an
additional 
19indebtedness in an amount not to exceed $4,000,000 even though 
20the
amount of the additional indebtedness authorized by this 
21subsection (k), when
incurred and added to the aggregate amount 
22of indebtedness of the school
district existing immediately 
23prior to the school district incurring such
additional 
24indebtedness, causes the aggregate indebtedness of the school

25district to exceed or increases the amount by which the 
26aggregate indebtedness
of the district already exceeds the debt 
 
 
SB1453- 13 -LRB099 09466 NHT 29674 b


1limitation otherwise applicable to
that school district under 
2subsection (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 
19the
provisions of any other law, until January 1, 2000, a 
20school district
maintaining grades kindergarten through 8 may 
21issue bonds up to an amount,
including existing indebtedness, 
22not exceeding 15% of the equalized assessed
value of the 
23taxable property in the district if all of the following

24conditions are met:

25  (i) the district has an equalized assessed valuation 
26 for calendar year
1996 of less than $10,000,000;

 
 
SB1453- 14 -LRB099 09466 NHT 29674 b


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 
11the provisions
of
any other law, until January 1, 1999, an 
12elementary school district maintaining
grades K through 8 may 
13issue bonds up to an amount, excluding existing
indebtedness, 
14not exceeding 18% of the equalized assessed value of the 
15taxable
property in the district, if all of the following 
16conditions 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 
 
 
SB1453- 15 -LRB099 09466 NHT 29674 b


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 
8subsection (a) of
this Section or any other provisions of this 
9Section or of any other law, a
school district that meets all 
10of the criteria set forth in paragraphs (i)
through (vi) of 
11this subsection (n) may incur additional indebtedness by the

12issuance of bonds in an amount not exceeding the amount 
13certified by the
Capital Development Board to the school 
14district as provided in paragraph (iii)
of
this subsection (n), 
15even though the amount of the additional indebtedness so

16authorized, when incurred and added to the aggregate amount of 
17indebtedness of
the district existing immediately prior to the 
18district incurring the
additional indebtedness authorized by 
19this subsection (n), causes the aggregate
indebtedness of the 
20district to exceed the debt limitation otherwise applicable
by 
21law 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.

 
 
SB1453- 16 -LRB099 09466 NHT 29674 b


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 
 
 
SB1453- 17 -LRB099 09466 NHT 29674 b


1 through 19-7 of the
School Code.

2 (o) Notwithstanding any other provisions of this Section or 
3the
provisions of any other law, until November 1, 2007, a 
4community unit
school district maintaining grades K through 12 
5may issue bonds up to
an amount, including existing 
6indebtedness, not exceeding 20% of the
equalized assessed value 
7of the taxable property in the district if all of the
following 
8conditions 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.

 
 
SB1453- 18 -LRB099 09466 NHT 29674 b


1 (p) Notwithstanding any other provisions of this Section or 
2the provisions of any other law, a community unit school 
3district maintaining grades K through 12 may issue bonds up to 
4an amount, including indebtedness, not exceeding 27% of the 
5equalized assessed value of the taxable property in the 
6district 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 
22or the provisions of any other law, bonds issued by a community 
23unit school district maintaining grades K through 12 shall not 
24be considered indebtedness for purposes of any statutory 
25limitation and may be issued in an amount or amounts, including 
26existing indebtedness, in excess of any heretofore or hereafter 
 
 
SB1453- 19 -LRB099 09466 NHT 29674 b


1imposed statutory limitation as to indebtedness, if all of the 
2following 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 
23Section or the provisions of any other law, bonds issued by a 
24community consolidated school district maintaining grades K 
25through 8 shall not be considered indebtedness for purposes of 
26any statutory limitation and may be issued in an amount or 
 
 
SB1453- 20 -LRB099 09466 NHT 29674 b


1amounts, including existing indebtedness, in excess of any 
2heretofore or hereafter imposed statutory limitation as to 
3indebtedness, 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, 
22the Oswego Community Unit School District Number 308 may issue 
23bonds with an aggregate principal amount not to exceed 
24$450,000,000, but only if all of the following conditions are 
25met:
26  (i) The voters of the district have approved a 
 
 
SB1453- 21 -LRB099 09466 NHT 29674 b


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.
26The debt incurred on any bonds issued under this subsection 
 
 
SB1453- 22 -LRB099 09466 NHT 29674 b


1(p-15) shall not be considered indebtedness for purposes of any 
2statutory debt limitation.

3 (p-20) In addition to all other authority to issue bonds, 
4the Lincoln-Way Community High School District Number 210 may 
5issue bonds with an aggregate principal amount not to exceed 
6$225,000,000, but only if all of the following conditions are 
7met:
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.
 
 
SB1453- 23 -LRB099 09466 NHT 29674 b


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.
4The debt incurred on any bonds issued under this subsection 
5(p-20) shall not be considered indebtedness for purposes of any 
6statutory debt limitation.

7 (p-25) In addition to all other authority to issue bonds, 
8Rochester Community Unit School District 3A may issue bonds 
9with an aggregate principal amount not to exceed $18,500,000, 
10but 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, 
 
 
SB1453- 24 -LRB099 09466 NHT 29674 b


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.

9The debt incurred on any bonds issued under this subsection 
10(p-25) shall not be considered indebtedness for purposes of any 
11statutory debt limitation.

12 (p-30) In addition to all other authority to issue bonds, 
13Prairie Grove Consolidated School District 46 may issue bonds 
14with an aggregate principal amount not to exceed $30,000,000, 
15but 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 
 
 
SB1453- 25 -LRB099 09466 NHT 29674 b


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.

9The debt incurred on any bonds issued under this subsection 
10(p-30) shall not be considered indebtedness for purposes of any 
11statutory debt limitation.

12 (p-35) In addition to all other authority to issue bonds, 
13Prairie Hill Community Consolidated School District 133 may 
14issue bonds with an aggregate principal amount not to exceed 
15$13,900,000, but only if all of the following conditions are 
16met:

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 
 
 
SB1453- 26 -LRB099 09466 NHT 29674 b


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.

11The debt incurred on any bonds issued under this subsection 
12(p-35) shall not be considered indebtedness for purposes of any 
13statutory debt limitation.

14 (p-40) In addition to all other authority to issue bonds, 
15Mascoutah Community Unit District 19 may issue bonds with an 
16aggregate principal amount not to exceed $55,000,000, but only 
17if 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 
 
 
SB1453- 27 -LRB099 09466 NHT 29674 b


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 
16statutory debt limitation. 
17 (p-45) Notwithstanding the provisions of subsection (a) of 
18this Section or of any other law, bonds issued pursuant to 
19Section 19-3.5 of this Code shall not be considered 
20indebtedness for purposes of any statutory limitation if the 
21bonds are issued in an amount or amounts, including existing 
22indebtedness of the school district, not in excess of 18.5% of 
23the value of the taxable property in the district to be 
24ascertained by the last assessment for State and county taxes. 
25 (p-50) Notwithstanding the provisions of subsection (a) of

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

 
 
SB1453- 28 -LRB099 09466 NHT 29674 b


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

2indebtedness for purposes of any statutory limitation if the

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

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

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

6ascertained by the last assessment for State and county taxes. 
7 (p-55) In addition to all other authority to issue bonds, 
8Belle Valley School District 119 may issue bonds with an 
9aggregate principal amount not to exceed $47,500,000, but only 
10if 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 
 
 
SB1453- 29 -LRB099 09466 NHT 29674 b


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 
7statutory debt limitation. Bonds issued under this subsection 
8(p-55) must mature within not to exceed 30 years from their 
9date, notwithstanding any other law to the contrary. 
10 (p-60) In addition to all other authority to issue bonds, 
11Wilmington Community Unit School District Number 209-U may 
12issue bonds with an aggregate principal amount not to exceed 
13$2,285,000, but only if all of the following conditions are 
14met:
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 
 
 
SB1453- 30 -LRB099 09466 NHT 29674 b


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 
8statutory debt limitation. 
9 (p-65) In addition to all other authority to issue bonds, 
10West Washington County Community Unit School District 10 may 
11issue bonds with an aggregate principal amount not to exceed 
12$32,200,000 and maturing over a period not exceeding 25 years, 
13but 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 
 
 
SB1453- 31 -LRB099 09466 NHT 29674 b


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 
13statutory debt limitation. 
14 (p-70) In addition to all other authority to issue bonds, 
15Cahokia Community Unit School District 187 may issue bonds with 
16an aggregate principal amount not to exceed $50,000,000, but 
17only 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 
 
 
SB1453- 32 -LRB099 09466 NHT 29674 b


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 
13statutory debt limitation. Bonds issued under this subsection 
14(p-70) must mature within not to exceed 25 years from their 
15date, notwithstanding any other law, including Section 19-3 of 
16this Code, to the contrary. 
17 (p-75) Notwithstanding the debt limitation prescribed in 
18subsection (a) of this Section
or any other provisions of this 
19Section or of any other law, the execution of leases on or

20after January 1, 2007 and before July 1, 2011 by the Board of 
21Education of Peoria School District 150 with a public building 
22commission for leases entered into pursuant to the Public

23Building Commission Act shall not be considered indebtedness 
24for purposes of any
statutory debt limitation. 
25 This subsection (p-75) applies only if the State Board of 
26Education or the Capital Development Board makes one or more 
 
 
SB1453- 33 -LRB099 09466 NHT 29674 b


1grants to Peoria School District 150 pursuant to the School 
2Construction Law. The amount exempted from the debt limitation 
3as prescribed in this subsection (p-75) shall be no greater 
4than the amount of one or more grants awarded to Peoria School 
5District 150 by the State Board of Education or the Capital 
6Development Board.
7 (p-80) In addition to all other authority to issue bonds, 
8Ridgeland School District 122 may issue bonds with an aggregate 
9principal amount not to exceed $50,000,000 for the purpose of 
10refunding or continuing to refund bonds originally issued 
11pursuant to voter approval at the general election held on 
12November 7, 2000, and the debt incurred on any bonds issued 
13under this subsection (p-80) shall not be considered 
14indebtedness for purposes of any statutory debt limitation. 
15Bonds issued under this subsection (p-80) may be issued in one 
16or more issuances and must mature within not to exceed 25 years 
17from their date, notwithstanding any other law, including 
18Section 19-3 of this Code, to the contrary. 
19 (p-85) In addition to all other authority to issue bonds, 
20Hall High School District 502 may issue bonds with an aggregate 
21principal amount not to exceed $32,000,000, but only if all the 
22following 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

 
 
SB1453- 34 -LRB099 09466 NHT 29674 b


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 
22statutory debt limitation. Bonds issued under this subsection 
23(p-85) must mature within not to exceed 30 years from their 
24date, notwithstanding any other law, including Section 19-3 of 
25this Code, to the contrary. 
26 (p-90) In addition to all other authority to issue bonds, 
 
 
SB1453- 35 -LRB099 09466 NHT 29674 b


1Lebanon Community Unit School District 9 may issue bonds with 
2an aggregate principal amount not to exceed $7,500,000, but 
3only 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 
 
 
SB1453- 36 -LRB099 09466 NHT 29674 b


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 
4statutory debt limitation. 
5 (p-95) In addition to all other authority to issue bonds, 
6Monticello Community Unit School District 25 may issue bonds 
7with an aggregate principal amount not to exceed $35,000,000, 
8but 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 
 
 
SB1453- 37 -LRB099 09466 NHT 29674 b


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 
4statutory debt limitation. Bonds issued under this subsection 
5(p-95) must mature within not to exceed 25 years from their 
6date, notwithstanding any other law, including Section 19-3 of 
7this Code, to the contrary. 
8 (p-100) (p-95) In addition to all other authority to issue 
9bonds, the community unit school district created in the 
10territory comprising Milford Community Consolidated School 
11District 280 and Milford Township High School District 233, as 
12approved at the general primary election held on March 18, 
132014, may issue bonds with an aggregate principal amount not to 
14exceed $17,500,000, but only if all the following conditions 
15are 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 
 
 
SB1453- 38 -LRB099 09466 NHT 29674 b


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 
11purposes of any statutory debt limitation. Bonds issued under 
12this subsection (p-100) (p-95) must mature within not to exceed 
1325 years from their date, notwithstanding any other law, 
14including Section 19-3 of this Code, to the contrary. 
15 (p-105) In addition to all other authority to issue bonds, 
16North Shore School District 112 may issue bonds with an 
17aggregate principal amount not to exceed $150,000,000, but only 
18if all of the following conditions are met:
19  (1) The voters of the district approve a proposition 
20 for the bond issuance at an election held on or after March 
21 15, 2016.
22  (2) Prior to the issuance of the bonds, the school 
23 board determines, by resolution, that (i) the building and 
24 equipping of new buildings and improving the sites thereof 
25 and the building and equipping of additions to, altering, 
26 repairing, equipping, and renovating existing buildings 
 
 
SB1453- 39 -LRB099 09466 NHT 29674 b


1 and improving the sites thereof are required as a result of 
2 the age and condition of the district's existing buildings 
3 and (ii) the issuance of bonds is authorized by a statute 
4 that exempts the debt incurred on the bonds from the 
5 district's statutory debt limitation.
6  (3) The bonds are issued, in one or more issuances, not 
7 later than 5 years after the date of the referendum 
8 approving the issuance of the bonds, but the aggregate 
9 principal amount issued in all such bond issuances combined 
10 must not exceed $150,000,000.
11  (4) The bonds are issued in accordance with this 
12 Article.
13  (5) The proceeds of the bonds are used to accomplish 
14 only those projects approved by the voters at an election 
15 held on or after March 15, 2016. 
16 The debt incurred on any bonds issued under this subsection 
17(p-105) and on any bonds issued to refund or continue to refund 
18such bonds shall not be considered indebtedness for purposes of 
19any statutory debt limitation. Bonds issued under this 
20subsection (p-105) and any bonds issued to refund or continue 
21to refund such bonds must mature within not to exceed 30 years 
22from their date, notwithstanding any other law, including 
23Section 19-3 of this Code, to the contrary. 
24 (q) A school district must notify the State Board of 
25Education prior to issuing any form of long-term or short-term 
26debt that will result in outstanding debt that exceeds 75% of 
 
 
SB1453- 40 -LRB099 09466 NHT 29674 b


1the debt limit specified in this Section or any other provision 
2of law.


3(Source: P.A. 97-333, eff. 8-12-11; 97-834, eff. 7-20-12; 
497-1146, eff. 1-18-13; 98-617, eff. 1-7-14; 98-912, eff. 
58-15-14; 98-916, eff. 8-15-14; revised 10-1-14.)