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92_HB5351eng HB5351 Engrossed LRB9213135BDsb 1 AN ACT concerning bonds. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The General Obligation Bond Act is amended by 5 changing Section 5 as follows: 6 (30 ILCS 330/5) (from Ch. 127, par. 655) 7 Sec. 5. School Construction. 8 (a) The amount of $58,450,000 is authorized to make 9 grants to local school districts for the acquisition, 10 development, construction, reconstruction, rehabilitation, 11 improvement, financing, architectural planning and 12 installation of capital facilities, including but not limited 13 to those required for special education building projects 14 provided for in Article 14 of theTheSchool Code, consisting 15 of buildings, structures, and durable equipment, and for the 16 acquisition and improvement of real property and interests in 17 real property required, or expected to be required, in 18 connection therewith. 19 (b) $22,550,000, or so much thereof as may be necessary, 20 for grants to school districts for the making of principal 21 and interest payments, required to be made, on bonds issued 22 by such school districts after January 1, 1969, pursuant to 23 any indenture, ordinance, resolution, agreement or contract 24 to provide funds for the acquisition, development, 25 construction, reconstruction, rehabilitation, improvement, 26 architectural planning and installation of capital facilities 27 consisting of buildings, structures, durable equipment and 28 land for educational purposes or for lease payments required 29 to be made by a school district for principal and interest 30 payments on bonds issued by a Public Building Commission 31 after January 1, 1969. HB5351 Engrossed -2- LRB9213135BDsb 1 (c) $10,000,000 for grants to school districts for the 2 acquisition, development, construction, reconstruction, 3 rehabilitation, improvement, architectural planning and 4 installation of capital facilities consisting of buildings 5 structures, durable equipment and land for special education 6 building projects. 7 (d) $9,000,000 for grants to school districts for the 8 reconstruction, rehabilitation, improvement, financing and 9 architectural planning of capital facilities, including 10 construction at another location to replace such capital 11 facilities, consisting of those public school buildings and 12 temporary school facilities which, prior to January 1, 1984, 13 were condemned by the regional superintendent under Section 14 3-14.22 of The School Code or by any State official having 15 jurisdiction over building safety. 16 (e) $2,120,000,000 for grants to school districts for 17 school improvement projects authorized by the School 18 Construction Law. The bonds shall be sold in amounts not to 19 exceed the following schedule, except any bonds not sold 20 during one year shall be added to the bonds to be sold during 21 the remainder of the schedule: 22 First year...................................$200,000,000 23 Second year..................................$450,000,000 24 Third year...................................$500,000,000 25 Fourth year..................................$500,000,000 26 Fifth year...................................$300,000,000 27 Sixth year...................................$170,000,000 28 (Source: P.A. 90-549, eff. 12-8-97; 91-39, eff. 6-15-99.)