093_HB0179
LRB093 03917 SJM 03954 b
1 AN ACT concerning finance.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Transportation Bond Act is amended by
5 changing Section 2 as follows:
6 (30 ILCS 415/2) (from Ch. 127, par. 702)
7 Sec. 2. The State of Illinois is authorized to issue,
8 sell and provide for the retirement of bonds of the State of
9 Illinois in the amount of $1,729,000,000, hereinafter called
10 the "Bonds", for the specific purpose of promoting and
11 assuring rapid, efficient, and safe highway, air and mass
12 transportation for the inhabitants of the State by providing
13 monies, including the making of grants and loans, to be used
14 for the acquisition, construction, reconstruction, extension
15 and improvement of the following transportation facilities
16 and equipment and for the acquisition of real property and
17 interests in real property required or expected to be
18 required in connection therewith, and within the limitations
19 set forth in Section 5.1 of this Act for the specific purpose
20 set forth in Section 2(b) (2) and (3) of this Act:
21 (a) (1) the acquisition, construction, reconstruction,
22 extension and improvement of State highways, arterial
23 highways, freeways, roads, structures separating highways and
24 railroads and bridges; and
25 (2) the repair and reconstruction of bridges on roads
26 maintained by counties, municipalities, townships or road
27 districts;
28 (b) (1) the acquisition, construction, extension,
29 reconstruction and improvement of mass transportation
30 facilities including rapid transit, rail, bus and other
31 equipment used in connection therewith by the State or any
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1 unit of local government, special transportation district,
2 municipal corporation or other corporation or public
3 authority authorized to provide and promote public
4 transportation within the State or two or more of the
5 foregoing acting jointly; and
6 (2) for the purpose of providing immediate relief from
7 existing or impending inability to meet principal and
8 interest payments and thereby aiding in achieving the maximum
9 benefit for the public from the transportation capital
10 improvement program, to provide funds for any payments
11 required to be made for principal of and interest on bonds,
12 certificates, equipment trust certificates or other evidences
13 of indebtedness issued or guaranteed prior to the passage of
14 this Act by the State or any unit of local government,
15 special transportation district, municipal corporation or
16 other corporation or public authority authorized to provide
17 public transportation within the State, or two or more of the
18 foregoing acting jointly, pursuant to any indenture,
19 ordinance, resolution, agreement or contract to obtain and
20 finance transportation facilities; and,
21 (3) for the purpose of reimbursing the General Revenue
22 Fund for monies paid from the General Revenue Fund after
23 passage of this Act for the purpose described in Section 2(b)
24 (2).
25 (c) the acquisition, construction, extension,
26 reconstruction, and improvement of airport or aviation
27 facilities and any equipment, including snow removal
28 equipment, used in connection therewith, including
29 reimbursement for certain engineering and land acquisition
30 costs as provided in Section 34a of the "Illinois Aeronautics
31 Act", approved July 24, 1945, as amended, by the State or any
32 unit of local government, special transportation district,
33 municipal corporation or other corporation or public
34 authority authorized to provide public transportation within
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1 the State or two or more of the foregoing acting jointly.
2 $1,326,000,000 of the Bonds will be used for State
3 highway acquisition, construction, reconstruction, extension
4 and improvement as specifically described herein, hereinafter
5 called the "Transportation Bonds, Series A". $363,000,000 of
6 the Bonds will be used for the mass transportation purposes
7 specifically described herein and $40,000,000 of the Bonds
8 will be used for the aviation purposes specifically described
9 herein, such $403,000,000 of Bonds collectively hereinafter
10 called the "Transportation Bonds, Series B".
11 The $75,000,000 authorized for mass transportation
12 purposes by this amendatory Act of 1973 shall be used for the
13 acquisition of mass transportation equipment including rail
14 and bus, and other equipment used in connection therewith for
15 the area comprising the counties of DuPage, Kane, Lake,
16 McHenry and Will, and that portion of the County of Cook
17 outside the City of Chicago, as determined by the Regional
18 Transportation Authority established pursuant to "The
19 Regional Transportation Authority Act", enacted by the 78th
20 General Assembly. The proceeds of the sale of such bonds
21 shall be expended only to, or with the approval of, such
22 Authority. Nothing in this paragraph prohibits that Authority
23 from using or approving the use of such proceeds for purposes
24 of acquisition of mass transportation equipment for use
25 between such area and other areas.
26 Of the Bonds authorized to be used for highway purposes,
27 the proceeds of $14,965,100 of such bonds shall be used by
28 the Department of Transportation for the purpose of the
29 repair and reconstruction of unsafe and substandard bridges
30 on roads maintained by counties, municipalities, townships
31 and road districts under the Illinois Highway Code and the
32 proceeds of $12,000,000 of such bonds shall be used by the
33 Department of Transportation for the same purposes as
34 provided in Sections 6-902 through 6-905 of the Illinois
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1 Highway Code.
2 Of the Bonds authorized to be sold for highway purposes,
3 the proceeds of $36,939,400 of the Bonds shall be used for
4 such purposes within the City of Chicago, the proceeds of
5 $42,457,000 of the Bonds shall be used for such purposes in
6 the Chicago urbanized area, the proceeds of $46,359,000 of
7 the bonds shall be used for such purposes outside the Chicago
8 urbanized area, the proceeds of $142,105,500 of the Bonds
9 shall be used for such purposes within the Counties of Cook,
10 DuPage, Kane, Lake, McHenry and Will, the proceeds of
11 $181,139,100 of the Bonds shall be used for such purposes
12 within the Counties of the State outside the Counties of
13 Cook, DuPage, Kane, Lake, McHenry and Will.
14 Of the $106,000,000 of Bonds authorized to be sold for
15 mass transportation purposes by this amendatory Act of 1979,
16 $98,000,000 of the Bonds shall be used for such purposes
17 within the Counties of Cook, DuPage, Kane, Lake, McHenry and
18 Will and the proceeds of $8,000,000 of the Bonds shall be
19 used for such purposes within the Counties of the State
20 outside the Counties of Cook, DuPage, Kane, Lake, McHenry and
21 Will.
22 (Source: P.A. 86-453.)