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| 1 |  |  AN ACT concerning education.
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| 2 |  |  Be it enacted by the People of the State of Illinois,
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| 3 |  | represented in the General Assembly:
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| 4 |  |  Section 5. The School Code is amended by changing Sections  | 
| 5 |  | 7-6 and 7-14 as follows:
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| 6 |  |  (105 ILCS 5/7-6) (from Ch. 122, par. 7-6)
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| 7 |  |  Sec. 7-6. Petition filing; Notice; Hearing; Decision. 
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| 8 |  |  (a) Upon the filing of a petition with the secretary of the  | 
| 9 |  | regional board
of school trustees under the provisions of  | 
| 10 |  | Section 7-1 or 7-2 of this
Act the secretary shall cause a copy  | 
| 11 |  | of such petition to be given to
each board of any district  | 
| 12 |  | involved in the proposed boundary change and
shall cause a  | 
| 13 |  | notice thereof to be published once in a newspaper having
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| 14 |  | general circulation within the area of the territory described  | 
| 15 |  | in the
petition for the proposed change of boundaries.
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| 16 |  |  (b) When a joint hearing is required under the provisions  | 
| 17 |  | of Section
7-2, the secretary also shall cause a copy of the  | 
| 18 |  | notice to be sent to the
regional board of school trustees of  | 
| 19 |  | each region affected. Notwithstanding
the foregoing provisions  | 
| 20 |  | of this Section, if the secretary of the regional
board of  | 
| 21 |  | school trustees with whom a petition is filed under Section 7-2  | 
| 22 |  | fails,
within 30 days after the filing of such petition, to  | 
| 23 |  | cause notice thereof
to be published and sent as required by  | 
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| 1 |  | this Section, then the secretary of
the regional board of  | 
| 2 |  | school trustees of any other region affected may
cause the  | 
| 3 |  | required notice to be published and sent, and the joint hearing
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| 4 |  | may be held in any region affected as provided in the notice so
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| 5 |  | published.
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| 6 |  |  (b-5) If a petition filed under subsection (a) of Section  | 
| 7 |  | 7-1 or under
Section 7-2 proposes to annex all the territory of  | 
| 8 |  | a school district to another
school district, the petition  | 
| 9 |  | shall request the
submission of a proposition at a regular  | 
| 10 |  | scheduled election for the purpose of
voting for or against the  | 
| 11 |  | annexation of the
territory described in the petition to the  | 
| 12 |  | school district proposing to annex
that territory. No petition  | 
| 13 |  | filed or election held under this Article shall be
null and  | 
| 14 |  | void, invalidated, or deemed in noncompliance with the Election  | 
| 15 |  | Code
because of a failure to publish a notice with respect to  | 
| 16 |  | the petition or
referendum as required under subsection (g) of  | 
| 17 |  | Section 28-2 of that Code for
petitions that are not filed  | 
| 18 |  | under this Article or Article 11E
of this Code.
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| 19 |  |  (c) When a petition contains more than 10 signatures the  | 
| 20 |  | petition shall
designate a committee of 10 of the petitioners  | 
| 21 |  | as attorney in fact for all
petitioners, any 7 of whom may make  | 
| 22 |  | binding stipulations on behalf of all
petitioners as to any  | 
| 23 |  | question with respect to the petition or hearing or
joint  | 
| 24 |  | hearing, and the regional board of school trustees, or regional
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| 25 |  | boards of school trustees in cases of a joint hearing may  | 
| 26 |  | accept such
stipulation in lieu of evidence or proof of the  | 
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| 1 |  | matter stipulated. The
committee of petitioners shall have the  | 
| 2 |  | same power to stipulate to
accountings or waiver thereof  | 
| 3 |  | between school districts; however, the
regional board of school  | 
| 4 |  | trustees, or regional boards of school trustees in
cases of a  | 
| 5 |  | joint hearing may refuse to accept such stipulation.
Those  | 
| 6 |  | designated as the committee of 10 shall serve in that capacity  | 
| 7 |  | until
such time as the regional superintendent of schools or  | 
| 8 |  | the committee of 10
determines that, because of death,  | 
| 9 |  | resignation, transfer of residency from the
territory, or  | 
| 10 |  | failure to qualify, the office of a particular member of the
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| 11 |  | committee of 10 is vacant. Upon determination that a vacancy  | 
| 12 |  | exists, the
remaining members shall appoint a petitioner to  | 
| 13 |  | fill the designated vacancy on
the committee of 10. The  | 
| 14 |  | appointment of any new members by the committee of 10
shall be  | 
| 15 |  | made by a simple majority vote of the remaining designated  | 
| 16 |  | members.
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| 17 |  |  (d) The petition may be amended to withdraw not to exceed a  | 
| 18 |  | total of 10%
of the territory in the petition at any time prior  | 
| 19 |  | to the hearing or joint
hearing; provided that the petition  | 
| 20 |  | shall after amendment comply with the
requirements as to the  | 
| 21 |  | number of signatures required on an original petition.
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| 22 |  |  (e) The petitioners shall pay the expenses of publishing  | 
| 23 |  | the notice and
of any transcript taken at the hearing or joint  | 
| 24 |  | hearing; and in case of an
appeal from the decision of the  | 
| 25 |  | regional board of school trustees, or
regional boards of school  | 
| 26 |  | trustees in cases of a joint hearing, or State
Superintendent  | 
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| 1 |  | of Education in cases determined under subsection (l) of
this  | 
| 2 |  | Section, the appellants shall pay the cost of preparing the  | 
| 3 |  | record
for appeal.
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| 4 |  |  (f) The notice shall state when the petition was filed, the  | 
| 5 |  | description
of the territory, the prayer of the petition and  | 
| 6 |  | the return day on which
the hearing or joint hearing upon the  | 
| 7 |  | petition will be held which shall not
be more than 15 nor less  | 
| 8 |  | than 10 days after the publication of notice.
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| 9 |  |  (g) On such return day or on a day to which the regional  | 
| 10 |  | board of school
trustees, or regional boards of school trustees  | 
| 11 |  | in cases of a joint
hearing shall continue the hearing or joint  | 
| 12 |  | hearing the regional board of
school trustees, or regional  | 
| 13 |  | boards of school trustees in cases of a joint
hearing shall  | 
| 14 |  | hear the petition but may adjourn the hearing or joint
hearing  | 
| 15 |  | from time to time or may continue the matter for want of  | 
| 16 |  | sufficient
notice or other good cause.
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| 17 |  |  (h) Prior to the hearing or joint hearing the secretary of  | 
| 18 |  | the regional
board of school trustees shall submit to the  | 
| 19 |  | regional board of school trustees,
or regional boards of school  | 
| 20 |  | trustees in cases of a joint hearing maps showing
the districts  | 
| 21 |  | involved, a written report of financial and educational
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| 22 |  | conditions of districts involved and the probable effect of the  | 
| 23 |  | proposed
changes. The reports and maps submitted shall be made  | 
| 24 |  | a part of the record of
the proceedings of the regional board  | 
| 25 |  | of school trustees, or regional boards of
school trustees in  | 
| 26 |  | cases of a joint hearing. A copy of the report and maps
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| 1 |  | submitted shall be sent by the secretary of the regional board  | 
| 2 |  | of school
trustees to each board of the districts involved, not  | 
| 3 |  | less than 5 days prior to
the day upon which the hearing or  | 
| 4 |  | joint hearing is to be held.
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| 5 |  |  (i) The regional board of school trustees, or regional  | 
| 6 |  | boards of school
trustees in cases of a joint hearing shall  | 
| 7 |  | hear evidence as to the school
needs and conditions of the  | 
| 8 |  | territory in the area within and adjacent
thereto and the  | 
| 9 |  | effect detachment will have on those needs and conditions and  | 
| 10 |  | as to the ability of the districts affected to meet the
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| 11 |  | standards of recognition as prescribed by the State Board of  | 
| 12 |  | Education, and
shall take into consideration the division of  | 
| 13 |  | funds and assets which will
result from the change of  | 
| 14 |  | boundaries and shall determine whether it is to
the best  | 
| 15 |  | interests of the schools of the area and the direct educational  | 
| 16 |  | welfare
of the pupils that such change in boundaries be  | 
| 17 |  | granted, and in case
non-high school territory is contained in  | 
| 18 |  | the petition the normal high
school attendance pattern of the  | 
| 19 |  | children shall be taken into
consideration. If the non-high  | 
| 20 |  | school territory overlies an elementary
district, a part of  | 
| 21 |  | which is in a high school district, such territory may
be  | 
| 22 |  | annexed to such high school district even though not contiguous  | 
| 23 |  | to the
high school district. However, upon resolution by the  | 
| 24 |  | regional board of
school trustees, or regional boards of school  | 
| 25 |  | trustees in cases of a joint
hearing the secretary or  | 
| 26 |  | secretaries thereof shall conduct the hearing or
joint hearing  | 
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| 1 |  | upon any boundary petition and present a transcript of such
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| 2 |  | hearing to the trustees who shall base their decision upon the  | 
| 3 |  | transcript,
maps and information and any presentation of  | 
| 4 |  | counsel. In the instance of a change of boundaries through  | 
| 5 |  | detachment: 
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| 6 |  |   (1) When considering the effect the detachment will  | 
| 7 |  |  have on the direct educational welfare of the pupils, the  | 
| 8 |  |  regional board of school trustees or the regional boards of  | 
| 9 |  |  school trustees shall consider a comparison of the school  | 
| 10 |  |  report cards for the schools of the affected districts and  | 
| 11 |  |  the school district report cards for the affected districts  | 
| 12 |  |  only if there is no more than a 3% difference in the  | 
| 13 |  |  minority, low socio-economic, and non-English speaking  | 
| 14 |  |  student populations of the relevant schools of the  | 
| 15 |  |  districts.  | 
| 16 |  |   (2) The community of interest of the petitioners and  | 
| 17 |  |  their children and the effect detachment will have on the  | 
| 18 |  |  whole child may be considered only if the regional board of  | 
| 19 |  |  school trustees or the regional boards of school trustees  | 
| 20 |  |  first determine that there would be a significant direct  | 
| 21 |  |  educational benefit to the petitioners' children if the  | 
| 22 |  |  change in boundaries were allowed.  | 
| 23 |  |   (3) The regional board of school trustees or the  | 
| 24 |  |  regional boards of school trustees may consider the  | 
| 25 |  |  difference in the distances from the petitioning area to  | 
| 26 |  |  the current schools and the petitioned-for schools only if  | 
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| 1 |  |  the difference is no less than 10 miles shorter to one of  | 
| 2 |  |  the petitioned-for grade centers than it is to the  | 
| 3 |  |  corresponding current grade center.  | 
| 4 |  |   (4) The regional board of school trustees or the  | 
| 5 |  |  regional boards of school trustees may not grant a petition  | 
| 6 |  |  if doing so will increase the percentage of minority, low  | 
| 7 |  |  socio-economic, or non-English speaking students at the  | 
| 8 |  |  school or the district from which the petitioning territory  | 
| 9 |  |  will be detached and will decrease the percentage of those  | 
| 10 |  |  students at the school or district to which the territory  | 
| 11 |  |  will be annexed.  | 
| 12 |  |   (5) The regional board of school trustees or the  | 
| 13 |  |  regional boards of school trustees may not consider whether  | 
| 14 |  |  changing the boundaries will increase the property values  | 
| 15 |  |  of the petitioners' property.  | 
| 16 |  |  The factors in subdivisions (1) through (5) of this  | 
| 17 |  | subsection (i) are applicable whether or not there are children  | 
| 18 |  | residing in the petitioning area at the time the hearing is  | 
| 19 |  | conducted.  | 
| 20 |  |  (j) At the hearing or joint hearing any resident of the  | 
| 21 |  | territory described
in the petition or any resident in any  | 
| 22 |  | district affected by the proposed change
of boundaries may  | 
| 23 |  | appear in person or by an attorney in support of the
petition  | 
| 24 |  | or to object to the granting of the petition and may present
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| 25 |  | evidence in support of his position.
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| 26 |  |  (k) At the conclusion of the hearing, other than a joint  | 
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| 1 |  | hearing,
the regional superintendent of schools as ex officio  | 
| 2 |  | member of the regional
board of school trustees shall within 30  | 
| 3 |  | days enter an order either
granting or denying the petition and  | 
| 4 |  | shall deliver to the committee of
petitioners, if any, and any  | 
| 5 |  | person who has filed his appearance in
writing at the hearing  | 
| 6 |  | and any attorney who appears for any person and
any objector  | 
| 7 |  | who testifies at the hearing and the regional superintendent
of  | 
| 8 |  | schools a certified copy of its order.
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| 9 |  |  (l) Notwithstanding the foregoing provisions of this  | 
| 10 |  | Section, if
within 9 months after a petition is submitted under  | 
| 11 |  | the provisions of
Section 7-1 the petition is not approved or  | 
| 12 |  | denied by the regional board of
school trustees and the order  | 
| 13 |  | approving or denying that petition entered and
a copy thereof  | 
| 14 |  | served as provided in this Section, the school boards or
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| 15 |  | registered voters of the districts affected that submitted the  | 
| 16 |  | petition (or
the committee of 10, or an attorney acting on its  | 
| 17 |  | behalf, if designated
in the petition) may submit a copy of the  | 
| 18 |  | petition directly to the State
Superintendent of Education for  | 
| 19 |  | approval or denial. The copy of the petition
as so submitted  | 
| 20 |  | shall be accompanied by a record of all proceedings had with
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| 21 |  | respect to the petition up to the time the copy of the petition  | 
| 22 |  | is submitted to
the State Superintendent of Education  | 
| 23 |  | (including a copy of any notice given or
published, any  | 
| 24 |  | certificate or other proof of publication, copies of any maps  | 
| 25 |  | or
written report of the financial and educational conditions  | 
| 26 |  | of the school
districts affected if furnished by the secretary  | 
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| 1 |  | of the regional board of
school trustees, copies of any  | 
| 2 |  | amendments to the petition and stipulations
made, accepted or  | 
| 3 |  | refused, a transcript of any hearing or part of a hearing
held,  | 
| 4 |  | continued or adjourned on the petition, and any orders entered  | 
| 5 |  | with
respect to the petition or any hearing held thereon). The  | 
| 6 |  | school boards,
registered voters or committee of 10 submitting  | 
| 7 |  | the petition and record of
proceedings to the State  | 
| 8 |  | Superintendent of Education shall give written notice
by  | 
| 9 |  | certified mail, return receipt requested to the regional board  | 
| 10 |  | of school
trustees and to the secretary of that board that the  | 
| 11 |  | petition has been
submitted to the State Superintendent of  | 
| 12 |  | Education for approval or denial, and
shall furnish a copy of  | 
| 13 |  | the notice so given to the State Superintendent of
Education.  | 
| 14 |  | The cost of assembling the record of proceedings for submission  | 
| 15 |  | to
the State Superintendent of Education shall be the  | 
| 16 |  | responsibility of the school
boards, registered voters or  | 
| 17 |  | committee of 10 that submits the petition and
record of  | 
| 18 |  | proceedings to the State Superintendent of Education. When a
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| 19 |  | petition is submitted to the State Superintendent of Education  | 
| 20 |  | in accordance
with the provisions of this paragraph:
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| 21 |  |   (1) The regional board of school trustees loses all  | 
| 22 |  |  jurisdiction over
the petition and shall have no further  | 
| 23 |  |  authority to hear, approve, deny
or otherwise act with  | 
| 24 |  |  respect to the petition.
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| 25 |  |   (2) All jurisdiction over the petition and the right  | 
| 26 |  |  and duty to hear,
approve, deny or otherwise act with  | 
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| 1 |  |  respect to the petition is transferred
to and shall be  | 
| 2 |  |  assumed and exercised by the State Superintendent of  | 
| 3 |  |  Education.
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| 4 |  |   (3) The State Superintendent of Education shall not be  | 
| 5 |  |  required to repeat
any proceedings that were conducted in  | 
| 6 |  |  accordance with the provisions of
this Section prior to the  | 
| 7 |  |  time jurisdiction over the petition is transferred
to him,  | 
| 8 |  |  but the State Superintendent of Education shall be required  | 
| 9 |  |  to give
and publish any notices and hold or complete any  | 
| 10 |  |  hearings that were
not given, held or completed by the  | 
| 11 |  |  regional board of school trustees or
its secretary as  | 
| 12 |  |  required by this Section prior to the time jurisdiction
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| 13 |  |  over the petition is transferred to the State  | 
| 14 |  |  Superintendent of Education.
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| 15 |  |   (4) If so directed by the State Superintendent of  | 
| 16 |  |  Education, the regional
superintendent of schools shall  | 
| 17 |  |  submit to the State Superintendent of
Education and to such  | 
| 18 |  |  school boards as the State Superintendent of Education
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| 19 |  |  shall prescribe accurate maps and a written report of the  | 
| 20 |  |  financial and
educational conditions of the districts  | 
| 21 |  |  affected and the probable effect of
the proposed boundary  | 
| 22 |  |  changes.
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| 23 |  |   (5) The State Superintendent is authorized to conduct  | 
| 24 |  |  further
hearings, or appoint a hearing officer to conduct  | 
| 25 |  |  further hearings,
on the petition even though a hearing  | 
| 26 |  |  thereon was held as provided in this
Section prior to the  | 
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| 1 |  |  time jurisdiction over the petition is transferred to
the  | 
| 2 |  |  State Superintendent of Education.
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| 3 |  |   (6) The State Superintendent of Education or the  | 
| 4 |  |  hearing officer shall
hear evidence and approve or deny the  | 
| 5 |  |  petition and shall enter an order to that
effect and  | 
| 6 |  |  deliver and serve the same as required in other cases to be  | 
| 7 |  |  done by
the regional board of school trustees and the  | 
| 8 |  |  regional superintendent of
schools as an ex officio member  | 
| 9 |  |  of that board.
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| 10 |  |  (m) Within 10 days after the conclusion of a joint hearing  | 
| 11 |  | required under
the provisions of Section 7-2, each regional  | 
| 12 |  | board of school trustees shall
meet together and render a  | 
| 13 |  | decision with regard to the joint hearing on the
petition. If  | 
| 14 |  | the regional boards of school trustees fail to enter a joint
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| 15 |  | order either granting or denying the petition, the regional  | 
| 16 |  | superintendent
of schools for the educational service region in  | 
| 17 |  | which the joint hearing is
held shall enter an order denying  | 
| 18 |  | the petition, and within 30 days after the
conclusion of the  | 
| 19 |  | joint hearing shall deliver a copy of the order denying the
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| 20 |  | petition to the regional boards of school trustees of each  | 
| 21 |  | region affected,
to the committee of petitioners, if any, to  | 
| 22 |  | any person who has filed his
appearance in writing at the  | 
| 23 |  | hearing and to any attorney who appears for
any person at the  | 
| 24 |  | joint hearing. If the regional boards of school trustees
enter  | 
| 25 |  | a joint order either granting or denying the petition, the  | 
| 26 |  | regional
superintendent of schools for the educational service  | 
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| 1 |  | region in which the
joint hearing is held shall, within 30 days  | 
| 2 |  | of the conclusion of the
hearing, deliver a copy of the joint  | 
| 3 |  | order to those same committees and
persons as are entitled to  | 
| 4 |  | receive copies of the regional superintendent's
order in cases  | 
| 5 |  | where the regional boards of school trustees have failed to
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| 6 |  | enter a joint order.
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| 7 |  |  (n) Within 10 days after service of a copy of the order  | 
| 8 |  | granting or
denying the petition, any person so served may  | 
| 9 |  | petition for a rehearing
and, upon sufficient cause being  | 
| 10 |  | shown, a rehearing may be granted. The
filing of a petition for  | 
| 11 |  | rehearing shall operate as a stay of enforcement
until the  | 
| 12 |  | regional board of school trustees, or regional boards of school
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| 13 |  | trustees in cases of a joint hearing, or State Superintendent  | 
| 14 |  | of Education
in cases determined under subsection (l) of this  | 
| 15 |  | Section enter the final
order on such petition for rehearing.
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| 16 |  |  (o) If a petition filed under subsection (a) of Section 7-1  | 
| 17 |  | or under
Section 7-2 is required under the provisions of  | 
| 18 |  | subsection (b-5) of this
Section 7-6 to request submission of a  | 
| 19 |  | proposition at a regular scheduled
election for the purpose of  | 
| 20 |  | voting for or against the annexation of the
territory described  | 
| 21 |  | in the petition to the
school district proposing to annex that  | 
| 22 |  | territory, and if the petition is
granted or approved by the  | 
| 23 |  | regional board or regional boards of school trustees
or by the  | 
| 24 |  | State Superintendent of Education, the proposition shall be  | 
| 25 |  | placed on
the ballot at the next regular scheduled election.
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| 26 |  | (Source: P.A. 94-1019, eff. 7-10-06.)
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| 1 |  |  (105 ILCS 5/7-14) (from Ch. 122, par. 7-14)
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| 2 |  |  Sec. 7-14. Bonded indebtedness-Tax rate. 
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| 3 |  |  (a) Beginning on January 1, 2015, whenever the boundaries  | 
| 4 |  | of any school district are changed by the attachment or  | 
| 5 |  | detachment of territory, the territory that is detached shall  | 
| 6 |  | remain liable for its proportionate share of the bonded  | 
| 7 |  | indebtedness and financial obligations to the Capital  | 
| 8 |  | Development Board of the school district from which the  | 
| 9 |  | territory is detached. The annexing district shall not, except  | 
| 10 |  | pursuant to the approval of a resolution by the school board of  | 
| 11 |  | the annexing district prior to the effective date of the change  | 
| 12 |  | of boundaries, assume or be responsible for any of the bonded  | 
| 13 |  | indebtedness or financial obligations to the Capital  | 
| 14 |  | Development Board of the district from which the territory is  | 
| 15 |  | detached. If the annexing district does not assume the  | 
| 16 |  | detaching territory's proportionate share of the bonded  | 
| 17 |  | indebtedness of the district from which the territory is  | 
| 18 |  | detaching, a tax rate for that bonded indebtedness shall be  | 
| 19 |  | determined in the manner provided in Section 19-7 of this Code,  | 
| 20 |  | and the county clerk or clerks shall annually extend taxes for  | 
| 21 |  | each bond outstanding on the effective date of the change of  | 
| 22 |  | boundaries against all of the taxable property situated within  | 
| 23 |  | the territory that is detached and within the detaching  | 
| 24 |  | district. After the effective date of the change of boundaries,  | 
| 25 |  | all of the property situated within the annexing school  | 
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| 1 |  | district, including the detaching territory, shall be liable  | 
| 2 |  | for the bonded indebtedness and financial obligations to the  | 
| 3 |  | Capital Development Board of that district as it exists on the  | 
| 4 |  | effective date of the change of boundaries and any date  | 
| 5 |  | thereafter. Except as provided in subsection (b), whenever the  | 
| 6 |  | boundaries of any
school district are changed by the annexation  | 
| 7 |  | or detachment of territory, each
such district as it exists on  | 
| 8 |  | and after such action shall assume the bonded
indebtedness, as  | 
| 9 |  | well as financial obligations to the Capital Development Board
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| 10 |  | pursuant to Section 35-15 (now repealed) of this
Code, of all  | 
| 11 |  | the territory included
therein after such change. The tax rate  | 
| 12 |  | for bonded indebtedness shall be
determined in the manner  | 
| 13 |  | provided in Section 19-7 of this Act, except the
County Clerk  | 
| 14 |  | shall annually extend taxes against all the taxable property
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| 15 |  | situated in the county and contained in each such district as  | 
| 16 |  | it exists after
the action. Notwithstanding the provisions of  | 
| 17 |  | this subsection, if the
boundaries of a school district are  | 
| 18 |  | changed by annexation or detachment of
territory after June 30,  | 
| 19 |  | 1987, and prior to September 15, 1987, and if the
school  | 
| 20 |  | district to which territory is being annexed has no outstanding
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| 21 |  | bonded indebtedness on the date such annexation occurs, then  | 
| 22 |  | the annexing
school district shall not be liable for any bonded  | 
| 23 |  | indebtedness of the
district from which the territory is  | 
| 24 |  | detached, and the school district from
which the territory is  | 
| 25 |  | detached shall remain liable for all of its bonded
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| 26 |  | indebtedness.
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 |  | SB0224 Engrossed | - 15 - | LRB099 03159 NHT 23167 b |  
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| 1 |  |  (b) Whenever a school district with bonded indebtedness has  | 
| 2 |  | become dissolved
under this Article and its territory annexed  | 
| 3 |  | to another district, the
annexing district or districts shall  | 
| 4 |  | not, except by action pursuant to
resolution of the school  | 
| 5 |  | board of the annexing district prior to the effective
date of  | 
| 6 |  | the annexation, assume the bonded indebtedness of the dissolved
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| 7 |  | district; nor, except by action pursuant to resolution of the  | 
| 8 |  | school
board of the dissolving district, shall the territory of  | 
| 9 |  | the dissolved
district assume the bonded indebtedness of the  | 
| 10 |  | annexing district or districts.
If the annexing district or  | 
| 11 |  | districts do not assume the bonded indebtedness of
the  | 
| 12 |  | dissolved district, a tax rate for the bonded indebtedness  | 
| 13 |  | shall be
determined in the manner provided in Section 19-7, and  | 
| 14 |  | the county clerk or
clerks shall annually extend taxes for each  | 
| 15 |  | outstanding bond issue against
all the taxable property that  | 
| 16 |  | was situated within the boundaries of the
district as the  | 
| 17 |  | boundaries existed at the time of the issuance of each bond
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| 18 |  | issue regardless of whether the property is still contained in  | 
| 19 |  | that same
district at the time of the extension of the taxes by  | 
| 20 |  | the county clerk
or clerks.
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| 21 |  |  (c) Notwithstanding the provisions of Section 19-18 of this  | 
| 22 |  | Code, upon resolution of the school board, the county clerk  | 
| 23 |  | must extend taxes to pay the principal of and interest on any  | 
| 24 |  | bonds issued exclusively to refund any bonded indebtedness of  | 
| 25 |  | the annexing school district against all of the taxable  | 
| 26 |  | property that was situated within the boundaries of the  | 
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 |  | SB0224 Engrossed | - 16 - | LRB099 03159 NHT 23167 b |  
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| 1 |  | annexing district as the boundaries existed at the time of the  | 
| 2 |  | issuance of the bonded indebtedness being refunded and not  | 
| 3 |  | against any of the taxable property in the dissolved school  | 
| 4 |  | district, provided that (i) the net interest rate on the  | 
| 5 |  | refunding bonds may not exceed the net interest rate on the  | 
| 6 |  | refunded bonds, (ii) the final maturity date of the refunding  | 
| 7 |  | bonds may not extend beyond the final maturity date of the  | 
| 8 |  | refunded bonds, and (iii) the tax levy to pay the refunding  | 
| 9 |  | bonds in any levy year may not exceed the tax levy that would  | 
| 10 |  | have been required to pay the refunded bonds for that levy  | 
| 11 |  | year. The provisions of this subsection (c) are applicable to  | 
| 12 |  | school districts that were dissolved and their territory  | 
| 13 |  | annexed to another school district pursuant to a referendum  | 
| 14 |  | held in April of 2003. The provisions of this subsection (c),  | 
| 15 |  | other than this sentence, are inoperative 2 years after the  | 
| 16 |  | effective date of this amendatory Act of the 95th General  | 
| 17 |  | Assembly.  | 
| 18 |  | (Source: P.A. 94-1105, eff. 6-1-07; 95-1025, eff. 1-6-09.)
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