SB 994

Abstract

Amends the School Code. Makes a technical change in a Section concerning the powers and duties of the State Board of Education. Senate Floor Amendment No. 1 Deletes reference to: 105 ILCS 5/1A-4 Adds reference to: 105 ILCS 5/19-1 Replaces everything after the enacting clause. 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, Washington School District 52 may issue bonds with an aggregate principal amount not to exceed $20,000,000 if specified conditions are met, including requiring that the school board determine that the projects set forth in the proposition for the issuance of the bonds were and are required because of the age, condition, or capacity of the district's existing school buildings. Provides that the debt incurred on the bonds shall not be considered indebtedness for purposes of any statutory debt limitation and must mature within not to exceed 25 years from their date. Effective immediately.