Date	Chamber	Action
1/12/2011	Senate	Session Sine Die

Statutes Amended In Order of Appearance

New Act

5 ILCS 70/8

from Ch. 1, par. 1107

Synopsis As Introduced
Creates the State University Certificates of Participation Act. Provides that the power of the board of trustees of any State university to enter into contracts includes, but is not limited to, the power to enter into financing agreements in connection with the financing of capital improvements by selling certificates of participation in the installment payments made under such financing agreements. Allows such financing agreements to be entered into for any period of time less than or equal to 30 years, but not to exceed the useful life of the capital improvement. Provides that, upon determination by the board of trustees of a State university to undertake a transaction for the sale of certificates of participation and enter into related financing agreements in connection with the financing of capital improvements, the board shall adopt a resolution or resolutions describing in a general way the contemplated facilities or a combination thereof designated as the project, the estimated cost thereof, and any additional relevant information. Provides that these provisions are declaratory of existing law. Amends the Statute on Statutes to provide that a citation to the Omnibus Bond Acts is a citation to the State University Certificates of Participation Act.

Actions 

Date	Chamber	Action
2/18/2009	Senate	Filed with Secretary by Sen. Jeffrey M. Schoenberg
2/18/2009	Senate	First Reading
2/18/2009	Senate	Referred to Assignments
2/19/2009	Senate	Added as Chief Co-Sponsor Sen. Michael W. Frerichs
2/25/2009	Senate	Assigned to Revenue
3/6/2009	Senate	Postponed - Revenue
3/12/2009	Senate	To Revenue Subcommittee on Special Issues
3/13/2009	Senate	Rule 2-10 Committee Deadline Established As April 3, 2009
4/3/2009	Senate	Rule 3-9(a) / Re-referred to Assignments
1/12/2011	Senate	Session Sine Die

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