105 ILCS 230/5-35
2021 Illinois Compiled Statutes|Chapter 105 - SCHOOLS|105 ILCS 230/ - School Construction Law.|Article 5

Sec. 5-35. School construction project grant amounts; permitted  use; prohibited use.(a) The product of the district's grant index and the  recognized project cost, as determined by the Capital Development Board, for an  approved school construction project shall equal the amount of the grant the  Capital Development Board shall provide to the eligible district.  The grant  index shall not be used in cases where the General Assembly and the Governor  approve appropriations designated for specifically identified school district  construction projects.The average of the grant indexes of the member districts in a joint agreement shall be used to calculate the amount of a school construction project grant awarded to an eligible Type 40 area vocational center.(b) In each fiscal year in which school construction project grants are  awarded, 20% of the total amount awarded statewide shall be awarded to a school  district with a population exceeding 500,000, provided such district complies  with the provisions of this Article.In addition to the uses otherwise authorized by this Law, any school  district with a population exceeding 500,000 is authorized to use any or all  of the school construction project grants (i) to pay debt service, as defined  in the Local Government Debt Reform Act, on bonds, as defined in the Local  Government Debt Reform Act, issued to finance one or more school construction  projects and (ii) to the extent that any such bond is a lease or other  installment or financing contract between the school district and a public  building commission that has issued bonds to finance one or more qualifying  school construction projects, to make lease payments under the lease.(b-3)  The Capital Development Board shall make payment in an amount equal to 20% of each amount deposited into the School Infrastructure Fund pursuant to subsection (b-5) of Section 6z-45 of the State Finance Act to the Board of Education of the City of Chicago within 10 days after such deposit.  The Board of Education of the City of Chicago shall use such moneys received (i) for application to the costs of a school construction project, (ii) to pay debt service on bonds, as those terms are defined in the Local Government Debt Reform Act, that are issued to finance one or more school construction projects, and (iii) to the extent that any such bond is a lease or other installment or financing contract between the school district and a public building commission that has issued bonds to finance one or more qualifying school construction projects, to make lease payments under the lease.  The Board of Education of the City of Chicago shall submit quarterly to the Capital Development Board documentation sufficient to establish that this money is being used as authorized by this Section. The Capital Development Board may withhold payments if the documentation is not provided. The remaining 80% of each such deposit shall be applied in accordance with the provisions of subsection (a) of this Section; however, no portion of this remaining 80% shall be awarded to a school district with a population of more than 500,000.(b-5) In addition to the uses otherwise authorized by this Law, any school district that (1) was organized prior to 1860 and (2) is located in part in a city originally incorporated prior to 1840 is authorized to use any or all of the school construction project grants (i) to pay debt service on bonds, as those terms are defined in the Local Government Debt Reform Act, that are issued to finance one or more school construction projects and (ii) to the extent that any such bond is a lease or other installment or financing contract between the school district and a public building commission that has issued bonds to finance one or more qualifying school construction projects, to make lease payments under the lease.(c) No portion of a school construction project grant awarded by the  Capital Development Board shall be used by a school district for any  on-going operational costs.  (Source: P.A. 98-18, eff. 6-7-13.)