SB1937 Summary

• Amends Illinois School Code Section 19-1 to add authorization for multiple specific school districts to issue bonds exceeding normal debt limitations for school construction and renovation projects.

• Authorizes Greenview Community Unit School District 200, Komarek School District 94, Williamsville Community Unit School District 15, Berkeley School District 87, Elmwood Park Community Unit School District 401, Maroa-Forsyth Community Unit School District 2, and Schiller Park School District 81 to issue bonds ranging from $3.5 million to $105 million with voter approval.

• Requires school districts to notify the State Board of Education before issuing debt that exceeds 75% of their debt limit.

• All authorized bonds must be issued in accordance with Article 19 of the School Code and used only for projects approved by voters at specified elections.

• Bonds issued under these authorizations are exempt from statutory debt limitations and must mature within 25-30 years depending on the district.