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Public Act 096-0909 |
SB0642 Enrolled |
LRB096 06697 NHT 16781 b |
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AN ACT concerning education.
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Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
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Section 5. The University of Illinois Act is amended by |
changing Section 7 as follows:
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(110 ILCS 305/7) (from Ch. 144, par. 28)
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Sec. 7. Powers of trustees.
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(a) The trustees shall have power to provide for the |
requisite
buildings, apparatus, and conveniences; to fix the |
rates for tuition; to
appoint such professors and instructors, |
and to establish and provide for
the management of such model |
farms, model art, and other departments and
professorships, as |
may be required to teach, in the most thorough manner,
such |
branches of learning as are related to agriculture and the |
mechanic
arts, and military tactics, without excluding other |
scientific and classical
studies. The trustees shall, upon the |
written request of an employee withhold
from the compensation |
of that employee any dues, payments or contributions
payable by |
such employee to any labor organization as defined in the |
Illinois
Educational Labor Relations Act. Under such |
arrangement, an amount shall
be withheld from each regular |
payroll period which is equal to the pro rata
share of the |
annual dues plus any payments or contributions, and the |
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trustees
shall transmit such withholdings to the specified |
labor organization within 10
working days from the time of the |
withholding. They may accept the endowments
and voluntary |
professorships or departments in the University, from any |
person
or persons or corporations who may offer the same, and, |
at any regular
meeting of the board, may prescribe rules and |
regulations in relation to such
endowments and declare on what |
general principles they may be admitted:
Provided, that such |
special voluntary endowments or professorships shall
not be |
incompatible with the true design and scope of the act of |
congress,
or of this Act: Provided, that no student shall at |
any time be allowed to
remain in or about the University in |
idleness, or without full mental or
industrial occupation: And |
provided further, that the trustees, in the
exercise of any of |
the powers conferred by this Act, shall not create any
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liability or indebtedness in excess of the funds in the hands |
of the
treasurer of the University at the time of creating such |
liability or
indebtedness, and which may be specially and |
properly applied to the
payment of the same. Any lease to the |
trustees of lands, buildings or
facilities which will support |
scientific research and development in such
areas as high |
technology, super computing, microelectronics, biotechnology,
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robotics, physics and engineering shall be for a term not to |
exceed 18 years,
and may grant to the trustees the option to |
purchase the lands, buildings or
facilities. The lease shall |
recite that it is subject to termination and
cancellation in |
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any year for which the General Assembly fails to make an
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appropriation to pay the rent payable under the terms of the |
lease.
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Leases for the purposes described herein exceeding 5 years |
shall have
the approval of the Illinois Board of Higher |
Education.
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The Board of Trustees may, directly or in cooperation with |
other institutions
of higher education, acquire by purchase or |
lease or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage medical research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment and personal property |
therefor, to encourage and
facilitate (a) the location and |
development of business and industry in the
State of Illinois, |
and (b) the increased application and development of
technology |
and (c) the improvement and development of the State's economy.
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The Board of Trustees may lease to nonprofit corporations all |
or any part
of the land, buildings, facilities, equipment or |
other property included in
a medical research and high |
technology park upon such terms and conditions as
the |
University of Illinois may deem advisable and enter into any |
contract or
agreement with such nonprofit corporations as may |
be necessary or suitable for
the construction, financing, |
operation and maintenance and management of any
such park; and |
may lease to any person, firm, partnership or corporation,
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either public or private, any part or all of the land, |
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building, facilities,
equipment or other property of such park |
for such purposes and upon such
rentals, terms and conditions |
as the University may deem advisable; and may
finance all or |
part of the cost of any such park, including the purchase,
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lease, construction, reconstruction, improvement, remodeling, |
addition to, and
extension and maintenance of all or part of |
such high technology park, and all
equipment and furnishings, |
by legislative appropriations, government grants,
contracts, |
private gifts, loans, receipts from the operation of such high
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technology park, rentals and similar receipts; and may make its |
other
facilities and services available to tenants or other |
occupants of any such
park at rates which are reasonable and |
appropriate.
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The Trustees shall have power (a) to purchase real property |
and
easements, and (b) to acquire real property and easements |
in the manner
provided by law for the exercise of the right of |
eminent domain, and in the
event negotiations for the |
acquisition of real property or easements for
making any |
improvement which the Trustees are authorized to make shall |
have
proven unsuccessful and the Trustees shall have by |
resolution adopted a
schedule or plan of operation for the |
execution of the project and therein
made a finding that it is |
necessary to take such property or easements
immediately or at |
some specified later date in order to comply with the
schedule, |
the Trustees may acquire such property or easements in the same
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manner provided in Article 20 of the Eminent Domain Act |
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(quick-take procedure).
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The Board of Trustees also shall have power to agree with |
the State's
Attorney of the county in which any properties of |
the Board are located to
pay for services rendered by the |
various taxing districts for the years
1944 through 1949 and to |
pay annually for services rendered thereafter by
such district |
such sums as may be determined by the Board upon properties
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used solely for income producing purposes, title to which is |
held by said
Board of Trustees, upon properties leased to |
members of the staff of the
University of Illinois, title to |
which is held in trust for said Board of
Trustees and upon |
properties leased to for-profit entities the title to
which |
properties is held by the Board of Trustees. A certified copy |
of
any such agreement made with the State's Attorney shall be |
filed with the
County Clerk and such sums shall be distributed |
to the respective taxing
districts by the County Collector in |
such proportions that each taxing district
will receive |
therefrom such proportion as the tax rate of such taxing |
district
bears to the total tax rate that would be levied |
against such properties if
they were not exempt from taxation |
under the Property Tax Code.
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The Board of Trustees of the University of Illinois, |
subject to the
applicable civil service law, may appoint |
persons to be members of the
University of Illinois Police |
Department. Members of the Police Department
shall be peace |
officers and as such have all powers possessed by policemen
in |
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cities, and sheriffs, including the power to make arrests on |
view or
warrants of violations of state statutes and city or |
county ordinances,
except that they may exercise such powers |
only in counties wherein the
University and any of its branches |
or properties are located when such is
required for the |
protection of university properties and interests, and its
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students and personnel, and otherwise, within such counties, |
when requested
by appropriate state or local law enforcement |
officials; provided, however,
that such officer shall have no |
power to serve and execute civil processes.
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The Board of Trustees must authorize to each member of the |
University of
Illinois
Police
Department
and to any other |
employee of the University of Illinois exercising the powers
of |
a peace officer
a distinct badge
that, on its face, (i) clearly |
states that the badge is authorized by the
University of
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Illinois and (ii)
contains a unique identifying number.
No |
other badge shall be authorized by
the University of Illinois.
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Nothing in this paragraph prohibits the Board of Trustees from |
issuing
shields
or other distinctive identification to |
employees not exercising the powers of a
peace officer if the |
Board of Trustees determines that a shield or distinctive
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identification is needed by the employee to carry out his or |
her
responsibilities.
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The Board of Trustees may own, operate, or govern, by or |
through the
College of Medicine at Peoria, a managed care |
community network established
under subsection (b) of Section |
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5-11 of the Illinois
Public Aid Code.
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The powers of the trustees as herein designated are subject |
to the provisions
of "An Act creating a Board of Higher |
Education, defining its powers and
duties, making an |
appropriation therefor, and repealing an Act herein named",
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approved August 22, 1961, as amended.
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The Board of Trustees shall have the authority to adopt all |
administrative
rules which may be necessary for the effective |
administration, enforcement and
regulation of all matters for |
which the Board has jurisdiction or
responsibility.
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(b) To assist in the provision of buildings and facilities |
beneficial to,
useful for, or supportive of University |
purposes, the Board of Trustees of the
University of Illinois |
may exercise the following powers with regard to the
area |
located on or adjacent to the University of Illinois at Chicago |
campus and
bounded as follows: on the West by Morgan Street; on |
the North by
Roosevelt Road; on the East by Union Street; and |
on
the South by 16th
Street, in the City of Chicago:
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(1) Acquire any interests in land, buildings, or |
facilities by purchase,
including installments payable |
over a period allowed by law, by lease over a
term of such |
duration as the Board of Trustees shall determine, or by
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exercise of the power of eminent domain;
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(2) Sub-lease or contract to purchase through |
installments all or any
portion of buildings or facilities |
for such duration and on such terms as the
Board of |
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Trustees shall determine, including a term that exceeds 5 |
years,
provided that each such lease or purchase contract |
shall be and shall recite
that it is subject to termination |
and cancellation in any year for which the
General Assembly |
fails to make an appropriation to pay the rent or purchase
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installments payable under the terms of such lease or |
purchase contract; and
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(3) Sell property without compliance with the State |
Property Control Act
and retain proceeds in the University |
Treasury in a special, separate
development fund account |
which the Auditor General shall examine to assure
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compliance with this Act.
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Any buildings or facilities to be developed on the land shall |
be buildings or
facilities that, in the determination of the |
Board of Trustees, in whole
or in part: (i) are for use by the |
University; or (ii) otherwise advance the
interests of the |
University, including, by way of example, residential
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facilities for University staff and students and commercial |
facilities which
provide services needed by the University
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community. Revenues from the development fund account may be |
withdrawn by
the University for the purpose of demolition and |
the processes associated with
demolition; routine land and |
property acquisition; extension of utilities;
streetscape |
work; landscape work; surface and structure parking; |
sidewalks,
recreational paths, and street construction; and |
lease and lease purchase
arrangements and the professional |
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services associated with the planning and
development of the |
area. Moneys from the development fund account used for any
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other purpose must be deposited into and appropriated from the |
General Revenue
Fund. Buildings or facilities leased to
an
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entity
or person other than the University shall not be subject |
to any limitations
applicable to a State supported college or |
university under any law. All
development on the land and all |
use of any buildings or facilities shall be
subject to the |
control and approval of the Board of Trustees.
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(c) The Board of Trustees shall have the power to borrow |
money, as necessary, from time to time in anticipation of |
receiving tuition, payments from the State of Illinois, or |
other revenues or receipts of the University, also known as |
anticipated moneys. The borrowing limit shall be capped at 100% |
of the total amount of payroll and other expense vouchers |
submitted and payable to the University for fiscal year 2010 |
expenses, but unpaid at the State Comptroller's office. Prior |
to borrowing any funds, the University shall request from the |
Comptroller's office a verification of the borrowing limit and |
shall include the estimated date on which such borrowing shall |
occur. The borrowing limit cap shall be verified by State |
Comptroller's office not prior to 45 days before any estimated |
date for executing any promissory note or line of credit |
established under this subsection (c). The principal amount |
borrowed under a promissory note or line of credit shall not |
exceed 75% of the borrowing limit. Within 15 days after |
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borrowing funds under any promissory note or line of credit |
established under this subsection (c), the University shall |
submit to the Governor's Office of Management and Budget, the |
Speaker of the House of Representatives, the Minority Leader of |
the House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations to include |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this subsection (c) must be finalized within |
90 days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this subsection (c) shall be paid in full one year after |
creation or within 10 days after the date the University |
receives reimbursement from the State for all submitted fiscal |
year 2010 vouchers, whichever is earlier. Any promissory note |
established under this subsection (c) shall be repaid within |
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one year after issuance of the note. The Chairman, Comptroller, |
or Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this subsection (c) shall be a lawful |
obligation of the University payable from the anticipated |
moneys. Any borrowing under this subsection (c) shall not |
constitute a debt, legal or moral, of the State and shall not |
be enforceable against the State. The promissory note or line |
of credit shall be authorized by a resolution passed by the |
Board and shall be valid whether or not a budgeted item with |
respect to that resolution is included in any annual or |
supplemental budget adopted by the Board. The resolution shall |
set forth facts demonstrating the need for the borrowing, state |
an amount that the amount to be borrowed will not exceed, and |
establish a maximum interest rate limit not to exceed the |
maximum rate authorized by the Bond Authorization Act or 9%, |
whichever is less. The resolution may direct the Comptroller or |
Treasurer of the Board to make arrangements to set apart and |
hold the portion of the anticipated moneys, as received, that |
shall be used to repay the borrowing, subject to any prior |
pledges or restrictions with respect to the anticipated moneys. |
The resolution may also authorize the Treasurer of the Board to |
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make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this subsection (c), "financial |
institution" means any bank subject to the Illinois Banking |
Act, any savings and loan association subject to the Illinois |
Savings and Loan Act of 1985, and any federally chartered |
commercial bank or savings and loan association or |
government-sponsored enterprise organized and operated in this |
State pursuant to the laws of the United States. |
(Source: P.A. 93-423, eff. 8-5-03; 94-1055, eff. 1-1-07.)
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Section 10. The Southern Illinois University Management |
Act is amended by changing Section 8 as follows: |
(110 ILCS 520/8) (from Ch. 144, par. 658) |
Sec. 8. Powers and Duties of the Board. The Board shall |
have power and
it shall be its duty: |
1. To make rules, regulations and by-laws, not |
inconsistent with
law, for the government and management of |
Southern Illinois University
and its branches; |
2. To employ, and, for good cause, to remove a |
president of Southern
Illinois University, and all |
necessary deans, professors, associate
professors, |
assistant professors, instructors, and other educational |
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and
administrative assistants, and all other necessary |
employees, and
contract with them upon matters relating to |
tenure, salaries and
retirement benefits in accordance |
with the State Universities Civil Service
Act; the Board |
shall, upon the written request of an employee of Southern
|
Illinois University, withhold from the compensation of |
that employee any
dues, payments or contributions payable |
by such employee to any labor
organization as defined in |
the Illinois Educational Labor Relations Act.
Under such |
arrangement, an amount shall be withheld from each regular
|
payroll period which is equal to the pro rata share of the |
annual dues plus
any payments or contributions, and the |
Board shall transmit such withholdings
to the specified |
labor organization within 10 working days from the time
of |
the withholding. Whenever the Board establishes a search |
committee to
fill the position of president of Southern |
Illinois University, there shall
be minority |
representation, including women, on that search committee; |
3. To prescribe the course of study to be followed, and |
textbooks
and apparatus to be used at Southern Illinois |
University; |
4. To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed |
the required studies of
Southern Illinois University, and |
confer such professional and literary
degrees as are |
usually conferred by other institutions of like character
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for similar or equivalent courses of study, or such as the |
Board may
deem appropriate; |
5. To examine into the conditions, management, and |
administration of
Southern Illinois University, to provide |
the requisite buildings,
apparatus, equipment and |
auxiliary enterprises, and to fix and collect
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matriculation fees; tuition fees; fees for student |
activities; fees for
student facilities such as student |
union buildings or field houses or
stadium or other |
recreational facilities; student welfare fees;
laboratory |
fees and similar fees for supplies and material; |
6. To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or |
pertaining to Southern Illinois
University; |
7. To accept endowments of professorships or |
departments in the
University from any person who may |
proffer them and, at regular
meetings, to prescribe rules |
and regulations in relation to endowments
and declare on |
what general principles they may be accepted; |
8. To enter into contracts with the Federal government |
for providing
courses of instruction and other services at |
Southern Illinois
University for persons serving in or with |
the military or naval forces
of the United States, and to |
provide such courses of instruction and
other services; |
9. To provide for the receipt and expenditures of |
Federal funds,
paid to the Southern Illinois University by |
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the Federal government for
instruction and other services |
for persons serving in or with the
military or naval forces |
of the United States and to provide for audits
of such |
funds; |
10. To appoint, subject to the applicable civil service |
law, persons
to be members of the Southern Illinois |
University Police Department.
Members of the Police |
Department shall be conservators of the peace and
as such |
have all powers possessed by policemen in cities, and |
sheriffs,
including the power to make arrests on view or |
warrants of violations of
state statutes, university rules |
and regulations and city or county
ordinances, except that |
they may exercise such powers only within
counties wherein |
the university and any of its branches or properties
are |
located when such is required for the protection of |
university
properties and interests, and its students and |
personnel, and otherwise,
within such counties, when |
requested by appropriate State
or local law enforcement |
officials. However, such officers shall have no
power to |
serve and execute civil processes. |
The Board must authorize to each member of the Southern |
Illinois University
Police
Department
and to any other |
employee of Southern Illinois University exercising the |
powers
of a peace officer
a distinct badge
that, on its |
face, (i) clearly states that the badge is authorized by |
Southern
Illinois
University and
(ii) contains a unique |
|
identifying number. No other badge shall be authorized
by |
Southern Illinois University. |
10.5.
To conduct health care programs in furtherance of |
its teaching, research, and public service functions, |
which shall include without limitation patient and |
ancillary facilities, institutes, clinics, or offices |
owned, leased, or purchased through an equity interest by |
the Board or its appointed designee to carry out such |
activities in the course of or in support of the Board's |
academic, clinical, and public service responsibilities.
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11. To administer a plan or plans established by the |
clinical faculty
of the School of Medicine for the billing, |
collection and disbursement of
charges for services |
performed
in the course of or in support of the faculty's |
academic responsibilities,
provided that such plan has |
been first approved by Board action. All such
collections |
shall be deposited into a special fund or funds |
administered
by the Board from which disbursements may be |
made according to the provisions
of said plan. The |
reasonable costs incurred, by the University, |
administering
the billing, collection and disbursement |
provisions of a plan shall have
first priority for payment |
before distribution or disbursement for any other
purpose. |
Audited financial statements of the plan or plans must be |
provided to the Legislative Audit
Commission annually. |
The Board of Trustees may own, operate, or govern, by |
|
or through the School
of Medicine, a managed care community |
network established under subsection
(b)
of Section 5-11 of |
the Illinois Public Aid Code. |
12. The Board of Trustees may, directly or in |
cooperation with other
institutions of higher education, |
acquire by purchase or lease or
otherwise, and construct, |
enlarge, improve, equip, complete, operate,
control and |
manage medical research and high technology parks, |
together
with the necessary lands, buildings, facilities, |
equipment, and personal
property therefor, to encourage |
and facilitate (a) the location and
development of business |
and industry in the State of Illinois, and (b) the
|
increased application and development of technology and |
(c) the improvement
and development of the State's economy. |
The Board of Trustees may lease to
nonprofit corporations |
all or any part of the land, buildings, facilities,
|
equipment or other property included in a medical research |
and high
technology park upon such terms and conditions as |
the Board of Trustees may
deem advisable and enter into any |
contract or agreement with such nonprofit
corporations as |
may be necessary or suitable for the construction,
|
financing, operation and maintenance and management of any |
such park; and
may lease to any person, firm, partnership |
or corporation, either public or
private, any part or all |
of the land, building, facilities, equipment or
other |
property of such park for such purposes and upon such
|
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rentals, terms and conditions as the Board of Trustees may |
deem advisable; and
may finance all or part of the cost of |
any such park, including the purchase,
lease, |
construction, reconstruction, improvement, remodeling, |
addition to,
and extension and maintenance of all or part |
of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
|
grants, contracts, private gifts, loans, receipts from the |
operation of
such high technology park, rentals and similar |
receipts; and may make its
other facilities and services |
available to tenants or other occupants of
any such park at |
rates which are reasonable and appropriate. |
13. To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State |
of Illinois, or other revenues or receipts of the |
University, also known as anticipated moneys. The |
borrowing limit shall be capped at 100% of the total amount |
of payroll and other expense vouchers submitted and payable |
to the University for fiscal year 2010 expenses, but unpaid |
at the State Comptroller's office. Prior to borrowing any |
funds, the University shall request from the Comptroller's |
office a verification of the borrowing limit and shall |
include the estimated date on which such borrowing shall |
occur. The borrowing limit cap shall be verified by State |
Comptroller's office not prior to 45 days before any |
estimated date for executing any promissory note or line of |
|
credit established under this item 13. The principal amount |
borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item 13, the University shall submit |
to the Governor's Office of Management and Budget, the |
Speaker of the House of Representatives, the Minority |
Leader of the House of Representatives, the President of |
the Senate, and Minority Leader of the Senate, an Emergency |
Short Term Cash Management Plan. The Emergency Short Term |
Cash Management Plan shall outline the amount borrowed, the |
terms for repayment, the amount of outstanding State |
vouchers as verified by the State Comptroller's office, and |
the University's plan for expenditure of any borrowed |
funds, including, but not limited to, a detailed plan to |
meet payroll obligations to include collective bargaining |
employees, civil service employees, and academic, |
research, and health care personnel. The establishment of |
any promissory note or line of credit established under |
this item 13 must be finalized within 90 days after the |
effective date of this amendatory Act of the 96th General |
Assembly. The borrowed moneys shall be applied to the |
purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and |
unpaid by the State Comptroller. Any line of credit |
established under this item 13 shall be paid in full one |
|
year after creation or within 10 days after the date the |
University receives reimbursement from the State for all |
submitted fiscal year 2010 vouchers, whichever is earlier. |
Any promissory note established under this item 13 shall be |
repaid within one year after issuance of the note. The |
Chairman, Comptroller, or Treasurer of the Board shall |
execute a promissory note or similar debt instrument to |
evidence the indebtedness incurred by the borrowing. In |
connection with a borrowing, the Board may establish a line |
of credit with a financial institution, investment bank, or |
broker/dealer.
The obligation to make the payments due |
under any promissory note or line of credit established |
under this item 13 shall be a lawful obligation of the |
University payable from the anticipated moneys. Any |
borrowing under this item 13 shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit |
shall be authorized by a resolution passed by the Board and |
shall be valid whether or not a budgeted item with respect |
to that resolution is included in any annual or |
supplemental budget adopted by the Board. The resolution |
shall set forth facts demonstrating the need for the |
borrowing, state an amount that the amount to be borrowed |
will not exceed, and establish a maximum interest rate |
limit not to exceed the maximum rate authorized by the Bond |
Authorization Act or 9%, whichever is less. The resolution |
|
may direct the Comptroller or Treasurer of the Board to |
make arrangements to set apart and hold the portion of the |
anticipated moneys, as received, that shall be used to |
repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the |
powers of the Board. |
For the purposes of this item 13, "financial |
institution" means any bank subject to the Illinois Banking |
Act, any savings and loan association subject to the |
Illinois Savings and Loan Act of 1985, and any federally |
chartered commercial bank or savings and loan association |
or government-sponsored enterprise organized and operated |
in this State pursuant to the laws of the United States. |
The powers of the Board as herein designated are subject to |
the Board
of Higher Education Act. |
(Source: P.A. 95-158, eff. 8-14-07; 95-876, eff. 8-21-08.) |
Section 15. The Chicago State University Law is amended by |
changing Section 5-45 as follows:
|
(110 ILCS 660/5-45)
|
Sec. 5-45. Powers and duties. The Board also shall have |
|
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent |
with
law, for the government and management of Chicago State |
University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Chicago State
University, and all necessary deans, |
professors, associate
professors, assistant professors, |
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to tenure, |
salaries
and
retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of Chicago |
State University,
there shall be minority representation, |
including women, on that search
committee. The
Board shall, |
upon the written request
of an employee of Chicago State |
University, withhold from the compensation
of that employee any |
dues, payments or contributions payable by such employee
to any |
labor organization as defined in the Illinois Educational Labor
|
Relations
Act. Under such arrangement, an amount shall be |
withheld from each regular
payroll period which is equal to the |
pro rata share of the annual dues plus
any payments or |
contributions, and the Board shall transmit such withholdings
|
to the specified labor organization within 10 working days from |
the time
of the withholding;
|
(3) To prescribe the courses of study to be followed, and |
|
textbooks
and apparatus to be used at Chicago State University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Chicago State University, and confer such |
professional and literary
degrees as are usually conferred by |
other institutions of like character
for similar or equivalent |
courses of study, or such as the Board may
deem appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Chicago State University, to provide the |
requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Chicago
State
University, the reimbursed |
expenses of members of the Board, and the
salaries or |
compensation of the President, assistants, agents and other
|
employees of Chicago State University, shall be a charge upon |
the State
Treasury. All
other expenses shall be chargeable |
against students, and the Board shall
regulate the charges |
accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
|
Chicago State
University;
|
(7) To accept endowments of professorships or departments |
in Chicago State
University from any person who may proffer |
them and, at regular
meetings, to prescribe rules and |
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at Chicago |
State
University for persons serving in or with the military or |
naval forces
of the United States, and to provide such courses |
of instruction and
other services;
|
(9) To contract with respect to the Cooperative Computer |
Center to obtain
services related to electronic data |
processing;
|
(10) To provide for the receipt and expenditures of Federal |
funds
paid to Chicago State University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Chicago State University |
Police Department.
Members of the Police Department shall be |
conservators of the peace and
as such have all powers possessed |
by policemen in cities, and sheriffs,
including the power to |
make arrests on view or warrants of violations of
State |
statutes, University rules and regulations and city or county
|
|
ordinances, except that they may exercise such powers only |
within
counties wherein Chicago State University and any of its |
branches or properties
are located when such is required for |
the protection of University
properties and interests, and its |
students and personnel, and otherwise,
within such counties, |
when requested by appropriate State
or local law enforcement |
officials. However, such officers shall have no
power to serve |
and execute civil processes.
|
The Board must authorize to each member of the Chicago |
State University
Police
Department
and to any other employee of |
Chicago State University exercising the powers
of a peace |
officer
a distinct badge
that, on its face, (i) clearly states |
that the badge is authorized by Chicago
State
University and
|
(ii) contains a unique identifying number on its face.
No other |
badge shall be authorized by
Chicago State University;
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate ; .
|
(13) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
|
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
office. Prior to borrowing any funds, the University shall |
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (13). The principal |
amount borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (13), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations to include |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
|
established under this item (13) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (13) shall be paid in full one year after creation or |
within 10 days after the date the University receives |
reimbursement from the State for all submitted fiscal year 2010 |
vouchers, whichever is earlier. Any promissory note |
established under this item (13) shall be repaid within one |
year after issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this item (13) shall be a lawful obligation |
of the University payable from the anticipated moneys. Any |
borrowing under this item (13) shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit shall |
be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
|
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
the amount to be borrowed will not exceed, and establish a |
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (13), "financial institution" |
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 91-883, eff. 1-1-01.)
|
Section 20. The Eastern Illinois University Law is amended |
by changing Section 10-45 as follows:
|
|
(110 ILCS 665/10-45)
|
Sec. 10-45. Powers and duties.
|
(a) The Board also shall have power and
it shall be its |
duty:
|
(1) To make rules, regulations and bylaws, not |
inconsistent with
law, for the government and management of |
Eastern Illinois University
and its branches.
|
(2) To employ, and, for good cause, to remove a |
President of Eastern
Illinois University, and all |
necessary deans, professors, associate
professors, |
assistant professors, instructors, other educational and
|
administrative assistants, and all other necessary |
employees, and to prescribe
their duties and contract with |
them upon matters relating to tenure, salaries
and |
retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board |
establishes a
search committee to fill the position of |
President of Eastern Illinois
University, there shall be |
minority representation, including women, on that
search |
committee. The Board shall, upon the written request
of an |
employee of Eastern Illinois University, withhold from the |
compensation
of that employee any dues, payments or |
contributions payable by such employee
to any labor |
organization as defined in the Illinois Educational Labor
|
Relations
Act. Under such arrangement, an amount shall be |
|
withheld from each regular
payroll period which is equal to |
the pro rata share of the annual dues plus
any payments or |
contributions, and the Board shall transmit such |
withholdings
to the specified labor organization within 10 |
working days from the time
of the withholding.
|
(3) To prescribe the courses of study to be followed, |
and textbooks
and apparatus to be used at Eastern Illinois |
University.
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed |
the required studies of
Eastern Illinois University, and |
confer such professional and literary
degrees as are |
usually conferred by other institutions of like character
|
for similar or equivalent courses of study, or such as the |
Board may
deem appropriate.
|
(5) To examine into the conditions, management, and |
administration of
Eastern Illinois University, to provide |
the requisite buildings,
apparatus, equipment and |
auxiliary enterprises, and to fix and collect
|
matriculation fees; tuition fees; fees for student |
activities; fees for
student facilities such as student |
union buildings or field houses or
stadia or other |
recreational facilities; student welfare fees;
laboratory |
fees; and similar fees for supplies and materials.
The |
expense of the building, improving, repairing and |
supplying fuel and
furniture and the necessary appliances |
|
and apparatus for conducting Eastern
Illinois
University, |
the reimbursed expenses of members of the Board, and the
|
salaries or compensation of the President, assistants, |
agents and other
employees of Eastern Illinois University, |
shall be a charge upon the State
Treasury. All
other |
expenses shall be chargeable against students, and the |
Board shall
regulate the charges accordingly.
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or |
pertaining to Eastern Illinois
University.
|
(7) To accept endowments of professorships or |
departments in Eastern
Illinois University from any person |
who may proffer them and, at regular
meetings, to prescribe |
rules and regulations in relation to endowments
and declare |
on what general principles they may be accepted.
|
(8) To enter into contracts with the Federal government |
for providing
courses of instruction and other services at |
Eastern Illinois
University for persons serving in or with |
the military or naval forces
of the United States, and to |
provide such courses of instruction and
other services.
|
(9) To contract with respect to the Cooperative |
Computer Center to obtain
services related to electronic |
data processing.
|
(10) To provide for the receipt and expenditures of |
Federal funds
paid to Eastern Illinois University by the |
Federal government for
instruction and other services for |
|
persons serving in or with the
military or naval forces of |
the United States, and to provide for audits
of such funds.
|
(11) To appoint, subject to the applicable civil |
service law, persons
to be members of the Eastern Illinois |
University Police Department.
Members of the Police |
Department shall be conservators of the peace and
as such |
have all powers possessed by policemen in cities, and |
sheriffs,
including the power to make arrests on view or |
warrants of violations of
State statutes, University rules |
and regulations and city or county
ordinances, except that |
they may exercise such powers only within
counties wherein |
Eastern Illinois University and any of its branches or
|
properties are located when such is required for the |
protection of University
properties and interests, and its |
students and personnel, and otherwise,
within such |
counties, when requested by appropriate State
or local law |
enforcement officials. However, such officers shall have |
no
power to serve and execute civil processes.
|
The Board must authorize to each member of the Eastern |
Illinois University
Police
Department
and to any other |
employee of Eastern Illinois University exercising the |
powers
of a peace officer
a distinct badge
that, on its |
face, (i) clearly states that the badge is authorized by |
Eastern
Illinois
University and
(ii) contains a unique |
identifying number.
No other badge shall be authorized by
|
Eastern Illinois University.
|
|
(12) To borrow money, as necessary, from time to time |
in anticipation of receiving tuition, payments from the |
State of Illinois, or other revenues or receipts of the |
University, also known as anticipated moneys. The |
borrowing limit shall be capped at 100% of the total amount |
of payroll and other expense vouchers submitted and payable |
to the University for fiscal year 2010 expenses, but unpaid |
at the State Comptroller's office. Prior to borrowing any |
funds, the University shall request from the Comptroller's |
office a verification of the borrowing limit and shall |
include the estimated date on which such borrowing shall |
occur. The borrowing limit cap shall be verified by State |
Comptroller's office not prior to 45 days before any |
estimated date for executing any promissory note or line of |
credit established under this item (12). The principal |
amount borrowed under a promissory note or line of credit |
shall not exceed 75% of the borrowing limit. Within 15 days |
after borrowing funds under any promissory note or line of |
credit established under this item (12), the University |
shall submit to the Governor's Office of Management and |
Budget, the Speaker of the House of Representatives, the |
Minority Leader of the House of Representatives, the |
President of the Senate, and Minority Leader of the Senate, |
an Emergency Short Term Cash Management Plan. The Emergency |
Short Term Cash Management Plan shall outline the amount |
borrowed, the terms for repayment, the amount of |
|
outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not |
limited to, a detailed plan to meet payroll obligations to |
include collective bargaining employees, civil service |
employees, and academic, research, and health care |
personnel. The establishment of any promissory note or line |
of credit established under this item (12) must be |
finalized within 90 days after the effective date of this |
amendatory Act of the 96th General Assembly. The borrowed |
moneys shall be applied to the purposes of paying salaries |
and other expenses lawfully authorized in the University's |
State appropriation and unpaid by the State Comptroller. |
Any line of credit established under this item (12) shall |
be paid in full one year after creation or within 10 days |
after the date the University receives reimbursement from |
the State for all submitted fiscal year 2010 vouchers, |
whichever is earlier. Any promissory note established |
under this item (12) shall be repaid within one year after |
issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness |
incurred by the borrowing. In connection with a borrowing, |
the Board may establish a line of credit with a financial |
institution, investment bank, or broker/dealer.
The |
obligation to make the payments due under any promissory |
|
note or line of credit established under this item (12) |
shall be a lawful obligation of the University payable from |
the anticipated moneys. Any borrowing under this item (12) |
shall not constitute a debt, legal or moral, of the State |
and shall not be enforceable against the State. The |
promissory note or line of credit shall be authorized by a |
resolution passed by the Board and shall be valid whether |
or not a budgeted item with respect to that resolution is |
included in any annual or supplemental budget adopted by |
the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount |
that the amount to be borrowed will not exceed, and |
establish a maximum interest rate limit not to exceed the |
maximum rate authorized by the Bond Authorization Act or |
9%, whichever is less. The resolution may direct the |
Comptroller or Treasurer of the Board to make arrangements |
to set apart and hold the portion of the anticipated |
moneys, as received, that shall be used to repay the |
borrowing, subject to any prior pledges or restrictions |
with respect to the anticipated moneys. The resolution may |
also authorize the Treasurer of the Board to make partial |
repayments of the borrowing as the anticipated moneys |
become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the |
powers of the Board. |
For the purposes of this item (12), "financial |
|
institution" means any bank subject to the Illinois Banking |
Act, any savings and loan association subject to the |
Illinois Savings and Loan Act of 1985, and any federally |
chartered commercial bank or savings and loan association |
or government-sponsored enterprise organized and operated |
in this State pursuant to the laws of the United States. |
(b) The Board may, directly or in cooperation with other
|
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
|
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate.
|
(c) The Board may sell the following described property |
without compliance
with
the State Property Control Act and |
retain the proceeds in the University
treasury in a
special, |
separate development fund account that the Auditor General |
shall
examine to
assure compliance with this Law:
|
Lots 511 and 512 in Heritage Woods V, Charleston, Coles |
County,
Illinois.
|
Revenues from the development fund account may be withdrawn by |
the University
for
the purpose of upgrading the on-campus |
formal reception facility. Moneys from
the
development fund |
account used for any other purpose must be deposited into and
|
appropriated from the General Revenue Fund.
|
(Source: P.A. 91-251, eff. 7-22-99; 91-883, eff. 1-1-01.)
|
|
Section 25. The Governors State University Law is amended |
by changing Section 15-45 as follows:
|
(110 ILCS 670/15-45)
|
Sec. 15-45. Powers and duties. The Board also shall have |
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent |
with
law, for the government and management of Governors State |
University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Governors State
University, and all necessary deans, |
professors, associate
professors, assistant professors, |
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to tenure, |
salaries
and retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of |
Governors State
University, there shall be minority |
representation, including women, on that
search committee. The |
Board shall, upon the written request
of an employee of |
Governors State University, withhold from the compensation
of |
that employee any dues, payments or contributions payable by |
such employee
to any labor organization as defined in the |
Illinois Educational Labor
Relations
Act. Under such |
arrangement, an amount shall be withheld from each regular
|
|
payroll period which is equal to the pro rata share of the |
annual dues plus
any payments or contributions, and the Board |
shall transmit such withholdings
to the specified labor |
organization within 10 working days from the time
of the |
withholding;
|
(3) To prescribe the courses of study to be followed, and |
textbooks
and apparatus to be used at Governors State |
University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Governors State University, and confer such |
professional and literary
degrees as are usually conferred by |
other institutions of like character
for similar or equivalent |
courses of study, or such as the Board may
deem appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Governors State University, to provide the |
requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Governors
State University, the reimbursed |
expenses of members of the Board, and the
salaries or |
|
compensation of the President, assistants, agents and other
|
employees of Governors State University, shall be a charge upon |
the State
Treasury. All
other expenses shall be chargeable |
against students, and the Board shall
regulate the charges |
accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
Governors State
University;
|
(7) To accept endowments of professorships or departments |
in Governors State
University from any person who may proffer |
them and, at regular
meetings, to prescribe rules and |
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at |
Governors State
University for persons serving in or with the |
military or naval forces
of the United States, and to provide |
such courses of instruction and
other services;
|
(9) To operate, maintain, and contract with respect to the |
Cooperative
Computer Center for its own purposes and to provide |
services related to
electronic data processing to other public |
and private colleges and
universities, to governmental |
agencies, and to public or private not-for-profit
agencies; and |
to examine
the conditions, management, and administration of |
the Cooperative Computer
Center;
|
(10) To provide for the receipt and expenditures of Federal |
|
funds
paid to Governors State University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Governors State University |
Police Department.
Members of the Police Department shall be |
conservators of the peace and
as such have all powers possessed |
by policemen in cities, and sheriffs,
including the power to |
make arrests on view or warrants of violations of
State |
statutes, University rules and regulations and city or county
|
ordinances, except that they may exercise such powers only |
within
counties wherein Governors State University and any of |
its branches or
properties are located when such is required |
for the protection of University
properties and interests, and |
its students and personnel, and otherwise,
within such |
counties, when requested by appropriate State
or local law |
enforcement officials. However, such officers shall have no
|
power to serve and execute civil processes.
|
The Board must authorize to each member of the Governors |
State University
Police
Department
and to any other employee of |
Governors State University exercising the powers
of a peace |
officer
a distinct badge
that, on its face, (i) clearly states |
that the badge is authorized by Governors
State
University and
|
(ii) contains a unique identifying number.
No other badge shall |
be authorized by
Governors State University;
|
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
|
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate ; .
|
(13) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
office. Prior to borrowing any funds, the University shall |
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (13). The principal |
amount borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (13), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
|
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations for all |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this item (13) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (13) shall be paid in full one year after creation or |
on such date as the University receives reimbursement from the |
State for all submitted fiscal year 2010 vouchers, whichever is |
earlier. Any promissory note established under this item (13) |
shall be repaid within one year after issuance of the note. The |
Chairman, Comptroller, or Treasurer of the Board shall execute |
a promissory note or similar debt instrument to evidence the |
indebtedness incurred by the borrowing. In connection with a |
borrowing, the Board may establish a line of credit with a |
|
financial institution, investment bank, or broker/dealer.
The |
obligation to make the payments due under any promissory note |
or line of credit established under this item (13) shall be a |
lawful obligation of the University payable from the |
anticipated moneys. Any borrowing under this item (13) shall |
not constitute a debt, legal or moral, of the State and shall |
not be enforceable against the State. The line of credit shall |
be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
the amount to be borrowed will not exceed, and establish a |
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (13), "financial institution" |
|
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 91-883, eff. 1-1-01.)
|
Section 30. The Illinois State University Law is amended by |
changing Section 20-45 as follows:
|
(110 ILCS 675/20-45)
|
Sec. 20-45. Powers and duties. The Board also shall have |
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent |
with
law, for the government and management of Illinois State |
University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Illinois State
University, and all necessary deans, |
professors, associate
professors, assistant professors, |
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to tenure, |
salaries
and retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of |
|
Illinois State
University, there shall be minority |
representation, including women, on that
search committee. The |
Board shall, upon the written request
of an employee of |
Illinois State University, withhold from the compensation
of |
that employee any dues, payments or contributions payable by |
such employee
to any labor organization as defined in the |
Illinois Educational Labor
Relations
Act. Under such |
arrangement, an amount shall be withheld from each regular
|
payroll period which is equal to the pro rata share of the |
annual dues plus
any payments or contributions, and the Board |
shall transmit such withholdings
to the specified labor |
organization within 10 working days from the time
of the |
withholding;
|
(3) To prescribe the courses of study to be followed, and |
textbooks
and apparatus to be used at Illinois State |
University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Illinois State University, and confer such |
professional and literary
degrees as are usually conferred by |
other institutions of like character
for similar or equivalent |
courses of study, or such as the Board may
deem appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Illinois State University, to provide the |
requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
|
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Illinois
State University, the reimbursed |
expenses of members of the Board, and the
salaries or |
compensation of the President, assistants, agents and other
|
employees of Illinois State University, shall be a charge upon |
the State
Treasury. All
other expenses shall be chargeable |
against students, and the Board shall
regulate the charges |
accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
Illinois State
University;
|
(7) To accept endowments of professorships or departments |
in Illinois State
University from any person who may proffer |
them and, at regular
meetings, to prescribe rules and |
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at Illinois |
State
University for persons serving in or with the military or |
naval forces
of the United States, and to provide such courses |
of instruction and
other services;
|
|
(9) To contract with respect to the Cooperative Computer |
Center to obtain
services related to electronic data |
processing;
|
(10) To provide for the receipt and expenditures of Federal |
funds
paid to Illinois State University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Illinois State University |
Police Department.
Members of the Police Department shall be |
conservators of the peace and
as such have all powers possessed |
by policemen in cities, and sheriffs,
including the power to |
make arrests on view or warrants of violations of
State |
statutes, University rules and regulations and city or county
|
ordinances, except that they may exercise such powers only |
within
counties wherein Illinois State University and any of |
its branches or
properties are located when such is required |
for the protection of University
properties and interests, and |
its students and personnel, and otherwise,
within such |
counties, when requested by appropriate State
or local law |
enforcement officials. However, such officers shall have no
|
power to serve and execute civil processes.
|
The Board must authorize to each member of the Illinois |
State University
Police
Department
and to any other employee of |
Illinois State University exercising the powers
of a peace |
|
officer
a distinct badge
that, on its face, (i) clearly states |
that the badge is authorized by Illinois
State
University and |
(ii)
contains a unique identifying number.
No other badge shall |
be authorized by
Illinois State University;
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation, either public or private, any part |
or all of the land, building,
facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
|
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate;
|
(13) To assist in the provision of lands, buildings, and |
facilities that
are supportive of university purposes and |
suitable and appropriate for the
conduct and operation of the |
university's education programs, the
Board of Trustees of |
Illinois State University may exercise the
powers specified in |
subparagraphs (a), (b), and (c) of this paragraph (13) with
|
regard to the following described property located near the
|
Normal, Illinois campus of Illinois State University:
|
Parcel 1: Approximately 300 acres that form a part of the |
Illinois State
University Farm in Section 20, Township 24 |
North, Range 2 East of the Third
Principal Meridian in |
McLean County, Illinois.
|
Parcels 2 and 3: Lands located in the Northeast Quadrant of |
the City of
Normal in McLean County, Illinois, one such |
parcel consisting of approximately
150 acres located north |
and east of the old Illinois Soldiers and Sailors
|
|
Children's School campus, and another such parcel, located |
in the Northeast
Quadrant of the old Soldiers and Sailors |
Children's School Campus, consisting
of approximately |
1.03.
|
(a) The Board of Trustees may sell, lease, or otherwise |
transfer and
convey
all or part of the above described |
parcels of real estate, together with the
improvements |
situated thereon, to a bona fide purchaser for value, |
without
compliance with the State Property Control Act and |
on such terms as the Board
of Trustees shall determine are |
in the best interests of Illinois State
University and |
consistent with its objects and purposes.
|
(b) The Board of Trustees may retain the proceeds from |
the sale, lease, or
other transfer of all or any part of |
the above described parcels of real estate
in the |
University treasury, in a special, separate development |
fund account
that the Auditor General shall examine to |
assure the use or deposit of those
proceeds in a manner |
consistent with the provisions of subparagraph (c) of this
|
paragraph (13).
|
(c) Moneys from the development fund account may be |
used by the Board of
Trustees of Illinois State University |
to acquire and develop other land to
achieve the same |
purposes for which the parcels of real estate described in
|
this item (13), all or a part of which have been sold, |
leased, or otherwise
transferred and conveyed, were used |
|
and for the purpose of demolition and the
processes |
associated with demolition on the acquired land. Moneys |
from the
development fund account used for any other |
purpose must be deposited into and
appropriated from the
|
General Revenue Fund. Buildings or facilities leased to an |
entity or person
other than the University shall not be |
subject to any limitations applicable to
a State-supported |
college or university under any law. All development on the
|
land and all the use of any buildings or facilities shall |
be subject to the
control and approval of the Board of |
Trustees of Illinois State University ; .
|
(14) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
office. Prior to borrowing any funds, the University shall |
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (14). The principal |
amount borrowed under a promissory note or line of credit shall |
|
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (14), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations to include |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this item (14) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (14) shall be paid in full one year after creation or |
within 10 days after the date the University receives |
reimbursement from the State for all submitted fiscal year 2010 |
vouchers, whichever is earlier. Any promissory note |
|
established under this item (14) shall be repaid within one |
year after issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this item (14) shall be a lawful obligation |
of the University payable from the anticipated moneys. Any |
borrowing under this item (14) shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit shall |
be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
the amount to be borrowed will not exceed, and establish a |
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
|
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (14), "financial institution" |
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 91-396, eff. 7-30-99; 91-883, eff. 1-1-01.)
|
Section 33. The Northeastern Illinois University Law is |
amended by changing Section 25-45 as follows:
|
(110 ILCS 680/25-45)
|
Sec. 25-45. Powers and duties. The Board also shall have |
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent |
with
law, for the government and management of Northeastern |
Illinois University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Northeastern
Illinois
University, and all necessary deans, |
professors, associate
professors, assistant professors, |
|
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to tenure, |
salaries
and retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of |
Northeastern Illinois
University, there shall be minority |
representation, including women, on that
search committee. The |
Board shall, upon the written request
of an employee of |
Northeastern Illinois University, withhold from the
|
compensation
of that employee any dues, payments or |
contributions payable by such employee
to any labor |
organization as defined in the Illinois Educational Labor
|
Relations
Act. Under such arrangement, an amount shall be |
withheld from each regular
payroll period which is equal to the |
pro rata share of the annual dues plus
any payments or |
contributions, and the Board shall transmit such withholdings
|
to the specified labor organization within 10 working days from |
the time
of the withholding;
|
(3) To prescribe the courses of study to be followed, and |
textbooks
and apparatus to be used at Northeastern Illinois |
University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Northeastern Illinois University, and |
confer such professional and literary
degrees as are usually |
|
conferred by other institutions of like character
for similar |
or equivalent courses of study, or such as the Board may
deem |
appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Northeastern Illinois University, to provide |
the requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Northeastern Illinois
University, the |
reimbursed expenses of members of the Board, and the
salaries |
or compensation of the President, assistants, agents and other
|
employees of Northeastern Illinois University, shall be a |
charge upon the State
Treasury. All
other expenses shall be |
chargeable against students, and the Board shall
regulate the |
charges accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
Northeastern Illinois
University;
|
(7) To accept endowments of professorships or departments |
in Northeastern Illinois
University from any person who may |
proffer them and, at regular
meetings, to prescribe rules and |
|
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at |
Northeastern Illinois
University for persons serving in or with |
the military or naval forces
of the United States, and to |
provide such courses of instruction and
other services;
|
(9) To contract with respect to the Cooperative Computer |
Center to obtain
services related to electronic data |
processing;
|
(10) To provide for the receipt and expenditures of Federal |
funds
paid to Northeastern Illinois University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Northeastern Illinois |
University Police Department.
Members of the Police Department |
shall be conservators of the peace and
as such have all powers |
possessed by policemen in cities, and sheriffs,
including the |
power to make arrests on view or warrants of violations of
|
State statutes, University rules and regulations and city or |
county
ordinances, except that they may exercise such powers |
only within
counties wherein Northeastern Illinois University |
and any of its branches or
properties
are located when such is |
required for the protection of University
properties and |
|
interests, and its students and personnel, and otherwise,
|
within such counties, when requested by appropriate State
or |
local law enforcement officials. However, such officers shall |
have no
power to serve and execute civil processes.
|
The Board must authorize to each member of the Northeastern |
Illinois
University
Police Department
and to any other employee |
of Northeastern Illinois University exercising the
powers
of a |
peace officer
a distinct badge
that, on its face, (i) clearly |
states that the badge is authorized by
Northeastern
Illinois |
University
and (ii) contains a unique identifying number.
No |
other badge shall be authorized by
Northeastern Illinois |
University;
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
|
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate ; .
|
(13) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
office. Prior to borrowing any funds, the University shall |
|
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (13). The principal |
amount borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (13), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations to include |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this item (13) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
|
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (13) shall be paid in full one year after creation or |
within 10 days after the date the University receives |
reimbursement from the State for all submitted fiscal year 2010 |
vouchers, whichever is earlier. Any promissory note |
established under this item (13) shall be repaid within one |
year after issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this item (13) shall be a lawful obligation |
of the University payable from the anticipated moneys. Any |
borrowing under this item (13) shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit shall |
be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
the amount to be borrowed will not exceed, and establish a |
|
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (13), "financial institution" |
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 91-883, eff. 1-1-01.)
|
Section 35. The Northern Illinois University Law is amended |
by changing Section 30-45 as follows:
|
(110 ILCS 685/30-45)
|
Sec. 30-45. Powers and duties. The Board also shall have |
|
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent
|
with
law, for the government and management of Northern |
Illinois University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Northern
Illinois University, and all necessary deans, |
professors, associate
professors, assistant professors, |
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to
tenure, |
salaries
and retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of |
Northern Illinois
University, there shall be minority |
representation, including women, on that
search committee. The |
Board shall, upon the written request
of an employee of |
Northern Illinois University, withhold from the compensation
|
of that employee any dues, payments or contributions payable by |
such employee
to any labor organization as defined in the |
Illinois Educational Labor
Relations
Act. Under such |
arrangement, an amount shall be withheld from each regular
|
payroll period which is equal to the pro rata share of the |
annual dues plus
any payments or contributions, and the Board |
shall transmit such withholdings
to the specified labor |
organization within 10 working days from the time
of the |
withholding;
|
|
(3) To prescribe the courses of study to be followed, and |
textbooks
and apparatus to be used at Northern Illinois |
University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Northern Illinois University, and confer |
such professional and literary
degrees as are usually conferred |
by other institutions of like character
for similar or |
equivalent courses of study, or such as the Board may
deem |
appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Northern Illinois University, to provide the |
requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Northern
Illinois University, the reimbursed |
expenses of members of the Board, and the
salaries or |
compensation of the President, assistants, agents and other
|
employees of Northern Illinois University, shall be a charge |
upon the State
Treasury. All
other expenses shall be chargeable |
against students, and the Board shall
regulate the charges |
|
accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
Northern Illinois
University;
|
(7) To accept endowments of professorships or departments |
in Northern
Illinois University from any person who may proffer |
them and, at regular
meetings, to prescribe rules and |
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at Northern |
Illinois
University for persons serving in or with the military |
or naval forces
of the United States, and to provide such |
courses of instruction and
other services;
|
(9) To contract with respect to the Cooperative Computer |
Center to obtain
services related to electronic data |
processing;
|
(10) To provide for the receipt and expenditures of Federal |
funds
paid to Northern Illinois University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Northern Illinois University |
Police Department.
Members of the Police Department shall be |
conservators of the peace and
as such have all powers possessed |
|
by policemen in cities, and sheriffs,
including the power to |
make arrests on view or warrants of violations of
State |
statutes, University rules and regulations and city or county
|
ordinances, except that they may exercise such powers only |
within
counties wherein Northern Illinois University and any of |
its branches or
properties
are located when such is required |
for the protection of University
properties and interests, and |
its students and personnel, and otherwise,
within such |
counties, when requested by appropriate State
or local law |
enforcement officials. However, such officers shall have no
|
power to serve and execute civil processes.
|
The Board must authorize to each member of the Northern |
Illinois University
Police
Department
and to any other employee |
of Northern Illinois University exercising the powers
of a |
peace officer
a distinct badge
that, on its face, (i) clearly |
states that the badge is authorized by Northern
Illinois
|
University and
(ii) contains a unique identifying number.
No |
other badge shall be authorized by
Northern Illinois |
University;
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
|
development of business
and industry in the State of Illinois, |
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate.
|
(13) To assist in the provision of buildings and facilities |
|
beneficial
to,
useful for, or supportive of university |
purposes, the Board of Trustees of
Northern Illinois University |
may exercise the following powers with regard to
the area |
located on or adjacent to the Northern Illinois University |
DeKalb
campus and bounded as follows:
|
Parcel 1:
|
In Township 40 North, Range 4 East, of the Third Prime |
Meridian, County of
DeKalb, State of Illinois: The East |
half of the Southeast Quarter of Section
17, the Southwest |
Quarter of Section 16, and the Northwest Quarter of Section
|
21, all in the County of DeKalb, Illinois.
|
Parcel 2:
|
In Township 40 North, Range 4 East, of the Third Prime |
Meridian, County of
DeKalb, State of Illinois: On the |
North, by a line beginning at the Northwest
corner of the |
Southeast Quarter of Section 15; thence East 1,903.3 feet; |
thence
South to the North line of the Southeast Quarter of |
the Southeast Quarter of
Section 15; thence East along said |
line to North First Street; on the West by
Garden Road |
between Lucinda Avenue and the North boundary; thence on |
the South
by Lucinda Avenue between Garden Road and the |
intersection of Lucinda Avenue
and the South Branch of the |
Kishwaukee River, and by the South Branch of the
Kishwaukee |
River between such intersection and easterly to the |
intersection of
such river and North First Street; thence |
on the East by North First Street.
|
|
(a) Acquire any interests in land, buildings, or |
facilities by purchase,
including installments payable |
over a period allowed by law, by lease over a
term of such |
duration as the Board of Trustees shall determine, or by |
exercise
of the power of eminent domain;
|
(b) Sublease or contract to purchase through |
installments all or any
portion of buildings or facilities |
for such duration and on such terms as the
Board of |
Trustees shall determine, including a term that exceeds 5 |
years,
provided that each such lease or purchase contract |
shall be and shall recite
that it is subject to termination |
and cancellation in any year for which the
General Assembly |
fails to make an appropriation to pay the rent or purchase
|
installments payable under the terms of such lease or |
purchase contracts; and
|
(c) Sell property without compliance with the State |
Property Control Act
and retain proceeds in the University |
treasury in a special, separate
development fund account |
which the Auditor General shall examine to assure
|
compliance with this Act.
|
Any buildings or facilities to be developed on the land |
shall be buildings or
facilities that, in
the determination of |
the Board of Trustees, in whole or in part: (i) are for
use by |
the University; or (ii) otherwise advance the interests of the
|
University,
including, by way of example, residential, |
recreational, educational, and
athletic facilities for |
|
University staff and students and commercial facilities
which |
provide services needed by the University community. Revenues |
from the
development fund account may be withdrawn by the |
University for the purpose of
demolition and the processes |
associated with demolition; routine land and
property |
acquisition; extension of utilities; streetscape work; |
landscape work;
surface and structure parking; sidewalks, |
recreational paths, and street
construction; and lease and |
lease purchase arrangements and the professional
services |
associated with the planning and development of the area. |
Moneys from
the development fund account used for any other |
purpose must be deposited into
and appropriated from the |
General Revenue Fund. Buildings or facilities leased
to an |
entity or person other than the University shall not be subject |
to any
limitations applicable to a State-supported college or |
university under any
law. All development on the land and all |
the use of any buildings or
facilities shall be subject to the |
control and approval of the Board of
Trustees of Northern |
Illinois University.
|
(14) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
|
office. Prior to borrowing any funds, the University shall |
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (14). The principal |
amount borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (14), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations for all |
collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this item (14) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
|
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (14) shall be paid in full one year after creation or |
within 10 days after the date the University receives |
reimbursement from the State for all submitted fiscal year 2010 |
vouchers, whichever is earlier. Any promissory note |
established under this item (14) shall be repaid within one |
year after issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this item (14) shall be a lawful obligation |
of the University payable from the anticipated moneys. Any |
borrowing under this item (14) shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit shall |
be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
|
the amount to be borrowed will not exceed, and establish a |
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (14), "financial institution" |
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 90-284, eff. 1-1-98; 91-883, eff. 1-1-01.)
|
Section 40. The Western Illinois University Law is amended |
by changing Section 35-45 as follows:
|
(110 ILCS 690/35-45)
|
|
Sec. 35-45. Powers and duties. The Board also shall have |
power and
it shall be its duty:
|
(1) To make rules, regulations and bylaws, not inconsistent |
with
law, for the government and management of Western Illinois |
University
and its branches;
|
(2) To employ, and, for good cause, to remove a President |
of Western
Illinois University, and all necessary deans, |
professors, associate
professors, assistant professors, |
instructors, other educational and
administrative assistants, |
and all other necessary employees, and to prescribe
their |
duties and contract with them upon matters relating to tenure, |
salaries
and retirement benefits in accordance with
the State |
Universities Civil Service Act. Whenever the Board establishes |
a
search committee to fill the position of President of Western |
Illinois
University, there shall be minority representation, |
including women, on that
search committee. The Board shall, |
upon the written request
of an employee of Western Illinois |
University, withhold from the compensation
of that employee any |
dues, payments or contributions payable by such employee
to any |
labor organization as defined in the Illinois Educational Labor
|
Relations
Act. Under such arrangement, an amount shall be |
withheld from each regular
payroll period which is equal to the |
pro rata share of the annual dues plus
any payments or |
contributions, and the Board shall transmit such withholdings
|
to the specified labor organization within 10 working days from |
the time
of the withholding;
|
|
(3) To prescribe the courses of study to be followed, and |
textbooks
and apparatus to be used at Western Illinois |
University;
|
(4) To issue upon the recommendation of the faculty, |
diplomas to such
persons as have satisfactorily completed the |
required studies of
Western Illinois University, and confer |
such professional and literary
degrees as are usually conferred |
by other institutions of like character
for similar or |
equivalent courses of study, or such as the Board may
deem |
appropriate;
|
(5) To examine into the conditions, management, and |
administration of
Western Illinois University, to provide the |
requisite buildings,
apparatus, equipment and auxiliary |
enterprises, and to fix and collect
matriculation fees; tuition |
fees; fees for student activities; fees for
student facilities |
such as student union buildings or field houses or
stadia or |
other recreational facilities; student welfare fees;
|
laboratory fees; and similar fees for supplies and materials.
|
The expense of the building, improving, repairing and supplying |
fuel and
furniture and the necessary appliances and apparatus |
for conducting Western
Illinois
University, the reimbursed |
expenses of members of the Board, and the
salaries or |
compensation of the President, assistants, agents and other
|
employees of Western Illinois University, shall be a charge |
upon the State
Treasury. All
other expenses shall be chargeable |
against students, and the Board shall
regulate the charges |
|
accordingly;
|
(6) To succeed to and to administer all trusts, trust |
property, and
gifts now or hereafter belonging or pertaining to |
Western Illinois
University;
|
(7) To accept endowments of professorships or departments |
in Western
Illinois University from any person who may proffer |
them and, at regular
meetings, to prescribe rules and |
regulations in relation to endowments
and declare on what |
general principles they may be accepted;
|
(8) To enter into contracts with the Federal government for |
providing
courses of instruction and other services at Western |
Illinois
University for persons serving in or with the military |
or naval forces
of the United States, and to provide such |
courses of instruction and
other services;
|
(9) To contract with respect to the Cooperative Computer |
Center to obtain
services related to electronic data |
processing;
|
(10) To provide for the receipt and expenditures of Federal |
funds
paid to Western Illinois University by the Federal |
government for
instruction and other services for persons |
serving in or with the
military or naval forces of the United |
States, and to provide for audits
of such funds;
|
(11) To appoint, subject to the applicable civil service |
law, persons
to be members of the Western Illinois University |
Police Department.
Members of the Police Department shall be |
conservators of the peace and
as such have all powers possessed |
|
by policemen in cities, and sheriffs,
including the power to |
make arrests on view or warrants of violations of
State |
statutes, University rules and regulations and city or county
|
ordinances, except that they may exercise such powers only |
within
counties wherein Western Illinois University and any of |
its branches or
properties
are located when such is required |
for the protection of University
properties and interests, and |
its students and personnel, and otherwise,
within such |
counties, when requested by appropriate State
or local law |
enforcement officials. However, such officers shall have no
|
power to serve and execute civil processes.
|
The Board must authorize to each member of the Western |
Illinois University
Police
Department
and to any other employee |
of Western Illinois University exercising the powers
of a peace |
officer
a distinct badge
that, on its face, (i) clearly states |
that the badge is authorized by Western
Illinois
University and
|
(ii) contains a unique identifying number.
No other badge shall |
be authorized by
Western Illinois University;
|
(12) The Board may, directly or in cooperation with other |
institutions
of higher education, acquire by purchase or lease |
or otherwise, and construct,
enlarge, improve, equip, |
complete, operate, control and manage research
and high |
technology parks, together with the necessary lands, |
buildings,
facilities, equipment, and personal property |
therefor,
to encourage and facilitate (i) the location and |
development of business
and industry in the State of Illinois, |
|
and (ii) the increased application
and development of |
technology, and (iii) the improvement and development of
the |
State's economy. The Board may lease to nonprofit corporations
|
all or any part
of the land, buildings, facilities, equipment |
or other property included
in a research and high technology |
park upon such terms and conditions
as the Board may deem |
advisable and enter into any contract or
agreement with such |
nonprofit corporations as may be necessary or suitable
for the |
construction, financing, operation and maintenance and |
management
of any such park; and may lease to any person, firm, |
partnership or
corporation,
either public or private, any part |
or all of the land, building, facilities,
equipment or other |
property of such park for such purposes and upon such
rentals, |
terms and conditions as the Board may deem advisable; and
may |
finance all or part of the cost of any such park, including the |
purchase,
lease, construction, reconstruction, improvement, |
remodeling, addition to,
and extension and maintenance of all |
or part of such high technology park,
and all equipment and |
furnishings, by legislative appropriations, government
grants, |
contracts, private gifts, loans, receipts from the operation of
|
such high technology park, rentals and similar receipts; and |
may make its
other facilities and services available to tenants |
or other occupants of
any such park at rates which are |
reasonable and appropriate ; .
|
(13) To borrow money, as necessary, from time to time in |
anticipation of receiving tuition, payments from the State of |
|
Illinois, or other revenues or receipts of the University, also |
known as anticipated moneys. The borrowing limit shall be |
capped at 100% of the total amount of payroll and other expense |
vouchers submitted and payable to the University for fiscal |
year 2010 expenses, but unpaid at the State Comptroller's |
office. Prior to borrowing any funds, the University shall |
request from the Comptroller's office a verification of the |
borrowing limit and shall include the estimated date on which |
such borrowing shall occur. The borrowing limit cap shall be |
verified by State Comptroller's office not prior to 45 days |
before any estimated date for executing any promissory note or |
line of credit established under this item (13). The principal |
amount borrowed under a promissory note or line of credit shall |
not exceed 75% of the borrowing limit. Within 15 days after |
borrowing funds under any promissory note or line of credit |
established under this item (13), the University shall submit |
to the Governor's Office of Management and Budget, the Speaker |
of the House of Representatives, the Minority Leader of the |
House of Representatives, the President of the Senate, and |
Minority Leader of the Senate, an Emergency Short Term Cash |
Management Plan. The Emergency Short Term Cash Management Plan |
shall outline the amount borrowed, the terms for repayment, the |
amount of outstanding State vouchers as verified by the State |
Comptroller's office, and the University's plan for |
expenditure of any borrowed funds, including, but not limited |
to, a detailed plan to meet payroll obligations to include |
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collective bargaining employees, civil service employees, and |
academic, research, and health care personnel. The |
establishment of any promissory note or line of credit |
established under this item (13) must be finalized within 90 |
days after the effective date of this amendatory Act of the |
96th General Assembly. The borrowed moneys shall be applied to |
the purposes of paying salaries and other expenses lawfully |
authorized in the University's State appropriation and unpaid |
by the State Comptroller. Any line of credit established under |
this item (13) shall be paid in full one year after creation or |
within 10 days after the date the University receives |
reimbursement from the State for all submitted fiscal year 2010 |
vouchers, whichever is earlier. Any promissory note |
established under this item (13) shall be repaid within one |
year after issuance of the note. The Chairman, Comptroller, or |
Treasurer of the Board shall execute a promissory note or |
similar debt instrument to evidence the indebtedness incurred |
by the borrowing. In connection with a borrowing, the Board may |
establish a line of credit with a financial institution, |
investment bank, or broker/dealer.
The obligation to make the |
payments due under any promissory note or line of credit |
established under this item (13) shall be a lawful obligation |
of the University payable from the anticipated moneys. Any |
borrowing under this item (13) shall not constitute a debt, |
legal or moral, of the State and shall not be enforceable |
against the State. The promissory note or line of credit shall |
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be authorized by a resolution passed by the Board and shall be |
valid whether or not a budgeted item with respect to that |
resolution is included in any annual or supplemental budget |
adopted by the Board. The resolution shall set forth facts |
demonstrating the need for the borrowing, state an amount that |
the amount to be borrowed will not exceed, and establish a |
maximum interest rate limit not to exceed the maximum rate |
authorized by the Bond Authorization Act or 9%, whichever is |
less. The resolution may direct the Comptroller or Treasurer of |
the Board to make arrangements to set apart and hold the |
portion of the anticipated moneys, as received, that shall be |
used to repay the borrowing, subject to any prior pledges or |
restrictions with respect to the anticipated moneys. The |
resolution may also authorize the Treasurer of the Board to |
make partial repayments of the borrowing as the anticipated |
moneys become available and may contain any other terms, |
restrictions, or limitations not inconsistent with the powers |
of the Board. |
For the purposes of this item (13), "financial institution" |
means any bank subject to the Illinois Banking Act, any savings |
and loan association subject to the Illinois Savings and Loan |
Act of 1985, and any federally chartered commercial bank or |
savings and loan association or government-sponsored |
enterprise organized and operated in this State pursuant to the |
laws of the United States. |
(Source: P.A. 91-883, eff. 1-1-01.)
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