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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 X7ORNEY GENERAL March 31, 2016 FILE NO. 16-001 STATE MATTERS: 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 -