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2016 Op. Ill. Att'y Gen. 1 (2016)

handle is hein.sag/sagil0137 and id is 1 raw text is: 

                       OFFICE OF THE ATTORNEY GENERAL
                                     STATE  OF ILLINOIS

  Lisa Madigan
                                      March  31, 2016

FILE NO.  16-001

Authority of State Board of Education
to Prevent Chicago Public Schools
from Incurring Debt

The Honorable  Barbara Flynn Currie
House  Majority LeadeK
Chair, House Education Task Forc
State Representative, 25th Distric
300 State Hous
Springfield,  i   s 62

Dear Repr   e tative Currie:

                         le er inquiring whether, pursuant to section 1A-8 of the School Code

(105 ILCS  5/1A-8 (West 2014)): (1) the Chicago Public Schools (CPS) is precluded from

establishing a line of credit or incurring other debt absent the submission of a financial plan to

the State Board of Education (State Board); and (2) if CPS is required to submit a financial plan

to the State Board, must CPS obtain the State Board's approval of its financial plan before

       500 South Second Street, Springfield, Illinois 62706 * (217) 782-1090 * TTY: (217) 785-2771 * Fax: (217) 782-7046
       100 West Randolph Street, Chicago, Illinois 60601 * (312) 814-3000  * TTY: (312) 814-3374  * Fax: (312) 814-3806
          1001 East Main. C-irhondale. Illinois 62901 * (618) 529-6400  * TTY: (619) 529-6403  *  Inv: (618) 529-6416  -

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