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, Central Community Unit School District 301 may issue bonds with an aggregate principal amount not to exceed $195,000,000 if specified conditions are met. 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.

Statutes affected:
Introduced: 105 ILCS 5/19