Illinois General Assembly - Illinois Compiled Statutes

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20 ILCS 3501/840-5

(20 ILCS 3501/840-5)

Sec. 840-5. The Authority shall have the following powers:

(a) To fix and revise from time to time and charge and collect rates, rents,
fees and charges for the use of and for the services furnished or to be
furnished by a project or other health facilities owned, financed or refinanced
by the Authority or any portion thereof and to contract with any person,
partnership, association or corporation or other body, public or private, in
respect thereto; to coordinate its policies and procedures and cooperate with
recognized health facility rate setting mechanisms which may now or hereafter
be established.

(b) To establish rules and regulations for the use of a project or other
health
facilities owned, financed or refinanced by the Authority or any portion
thereof
and to designate a participating health institution as its agent to establish
rules and regulations for the use of a project or other health facilities owned
by the Authority undertaken for that participating health institution.

(c) To establish or contract with others to carry out on its behalf a health
facility project cost estimating service and to make this service available on
all projects to provide expert cost estimates and guidance to the participating
health institution and to the Authority. In order to implement this service
and, through it, to contribute to cost containment, the Authority shall have
the power to require such reasonable reports and documents from health facility
projects as may be required for this service and for the development of cost
reports and guidelines. The Authority may appoint a Technical Committee on
Health Facility Project Costs and Cost Containment.

(d) To make mortgage or other secured or unsecured loans to or for the
benefit
of any participating health institution for the cost of a project in accordance
with an agreement between the Authority and the participating health
institution; provided that no such loan shall exceed the total cost of the
project as determined by the participating health institution and approved by
the Authority; provided further that such loans may be made to any entity
affiliated with a participating health institution if the proceeds of such loan
are made available to or applied for the benefit of such participating health
institution.

(e) To make mortgage or other secured or unsecured loans to or for the
benefit of a participating health institution in accordance with an agreement
between
the Authority and the participating health institution to refund outstanding
obligations, loans, indebtedness or advances issued, made, given or incurred by
such participating health institution for the cost of a project; including the
function to issue bonds and make loans to or for the benefit of a participating
health institution to refinance indebtedness incurred by such participating
health institution in projects undertaken and completed or for other health
facilities acquired prior to or after the enactment of this Act when the
Authority finds that such refinancing is in the public interest, and either
alleviates a financial hardship of such participating health institution, or is
in connection with other financing by the Authority for such participating
health institution or may be expected to result in a lessened cost of patient
care and a saving to third parties, including government, and to others who
must pay for care, or any combination thereof; provided further that such loans
may
be made to any entity affiliated with a participating health institution if the
proceeds of such loan are made available to or applied for the benefit of such
participating health institution.

(f) To mortgage all or any portion of a project or other health facilities
and the property on which any such project or other health facilities are
located
whether owned or thereafter acquired, and to assign or pledge mortgages, deeds
of trust, indentures of mortgage or trust or similar instruments, notes, and
other securities of participating health institutions to which or for the
benefit of which the Authority has made loans or of entities affiliated with
such institutions and the revenues therefrom, including payments or income from
any thereof owned or held by the Authority, for the benefit of the holders of
bonds issued to finance such project or health facilities or issued to refund
or refinance outstanding obligations, loans, indebtedness or advances of
participating health institutions as permitted by this Act.

(g) To lease to a participating health institution the project being
financed or refinanced or other health facilities conveyed to the Authority in
connection with such financing or refinancing, upon such terms and conditions
as the
Authority shall deem proper, and to charge and collect rents therefor and to
terminate any such lease upon the failure of the lessee to comply with any of
the obligations thereof; and to include in any such lease, if desired,
provisions that the lessee thereof shall have options to renew the lease for
such period or periods and at such rent as shall be determined by the Authority
or to purchase any or all of the health facilities or that upon payment of all
of the indebtedness incurred by the Authority for the financing of such project
or health facilities or for refunding outstanding obligations, loans,
indebtedness or advances of a participating health institution, then the
Authority may convey any or all of the project or such other health facilities
to the lessee or lessees thereof with or without consideration.

(h) To make studies of needed health facilities that could not sustain a
loan
were it made under this Act and to recommend remedial action to the General
Assembly; to do the same with regard to any laws or regulations that prevent
health facilities from benefiting from this Act.

(i) To assist the Department of Commerce and Economic Opportunity to
establish and implement a program to assist health facilities to identify and
arrange
financing for energy conservation projects in buildings and facilities owned or
leased by health facilities.

(j) To assist the Department of Human Services in establishing a low
interest
loan program to help child care centers and family day care homes serving
children of low income families under
Section 22.4 of the Children and Family
Services Act. The Authority, on or after the effective date of this amendatory Act of the 97th General Assembly, is authorized to convert existing agreements for financial aid in accordance with Section 840-5(j) to permanent capital to leverage additional private capital and establish a revolving loan fund for nonprofit corporations providing human services under contract to the State.

(k) To assist the Department of Public Health and nursing homes in undertaking nursing home conversion projects in accordance with the Older Adult Services Act.

(Source: P.A. 97-654, eff. 1-13-12.)