093_HB2483

 
                                     LRB093 07739 MKM 07927 b

 1        AN ACT concerning special districts.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5. The Property Tax Code  is  amended  by  adding
 5    Section 15-151 as follows:

 6        (35 ILCS 200/15-151 new)
 7        Sec.  15-151.  Joliet  Arsenal Development Authority. All
 8    property  belonging  to  the   Joliet   Arsenal   Development
 9    Authority is exempt from property taxes.

10        Section  10. The Joliet Arsenal Development Authority Act
11    is amended by changing Section 40 as follows:

12        (70 ILCS 508/40)
13        Sec. 40.  Acquisition.
14        (a)  The Authority may, but need not,  acquire  title  to
15    any project with respect to which it exercises its authority.
16        (b)  The   Authority  shall  have  power  to  acquire  by
17    purchase, lease, gift, or otherwise any  property  or  rights
18    therein from any person, the State of Illinois, any municipal
19    corporation,  any local unit of government, the government of
20    the United States,  any  agency  or  instrumentality  of  the
21    United States, any body politic, or any county useful for its
22    purposes,   whether   improved   for   the  purposes  of  any
23    prospective project or unimproved.  The  Authority  may  also
24    accept  any  donation  of  funds for its purposes from any of
25    those sources.
26        (c)  The  Authority  shall   have   power   to   develop,
27    construct,  and  improve,  either  under its own direction or
28    through collaboration with  any  approved  applicant,  or  to
29    acquire  through purchase or otherwise any project, using for
 
                            -2-      LRB093 07739 MKM 07927 b
 1    that purpose the proceeds derived from its  sale  of  revenue
 2    bonds,   notes,   or   other  evidences  of  indebtedness  or
 3    governmental loans or grants, and to hold title in  the  name
 4    of the Authority to those projects.
 5        (d)  The  Authority  shall  have  the power to enter into
 6    intergovernmental agreements with the State of Illinois,  the
 7    county  of  Will, the Illinois Development Finance Authority,
 8    the Illinois Education Facilities Authority, the Metropolitan
 9    Pier and Exposition Authority, the United States  government,
10    any  agency or instrumentality of the United States, any unit
11    of local government  located  within  the  territory  of  the
12    Authority,  or  any  other  unit  of government to the extent
13    allowed  by  Article  VII,  Section  10   of   the   Illinois
14    Constitution and the Intergovernmental Cooperation Act.
15        (e)  The   Authority   shall  have  the  power  to  share
16    employees with other units of government, including  agencies
17    of  the United States, agencies of the State of Illinois, and
18    agencies or personnel of any unit of local government.
19        (f)  Subject to subsection (i) of Section 35 of this Act,
20    the Authority shall have the power  to  exercise  powers  and
21    issue   revenue  bonds  as  if  it  were  a  municipality  so
22    authorized in Divisions 12.1, 74, 74.1,  74.3,  and  74.5  of
23    Article 11 of the Illinois Municipal Code.
24        (g)  Real  property  received by and under the control of
25    the Authority shall not be subject to real property taxes  by
26    the State or by any taxing district within the State.
27    (Source: P.A. 89-333, eff. 8-17-95.)