HB5830 Summary

• Amends the School Code to authorize Alden-Hebron School District 19 to issue bonds with an aggregate principal amount not to exceed $15,930,000 if voter approval and specified conditions are met.

• Debt incurred from these bonds shall not be considered indebtedness for purposes of any statutory debt limitation, allowing the district to exceed normal borrowing restrictions.

• Requires voter approval at an election held on or after November 8, 2022, and school board resolution that projects are necessary due to age and condition of existing school buildings.

• Bonds must be issued within 5 years of referendum approval and must comply with standard bond issuance procedures under Article 19 of the School Code.

• Takes effect immediately upon becoming law.