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Sen. John M. Sullivan
Filed: 4/1/2009
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| AMENDMENT TO HOUSE BILL 289
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| AMENDMENT NO. ______. Amend House Bill 289, AS AMENDED, by |
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| replacing everything after the enacting clause with the |
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| following:
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| "Section 5. The General Obligation Bond Act is amended by |
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| changing Sections 2 and 4 as follows:
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| (30 ILCS 330/2) (from Ch. 127, par. 652)
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| Sec. 2. Authorization for Bonds. The State of Illinois is |
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| authorized to
issue, sell and provide for the retirement of |
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| General Obligation Bonds of
the State of Illinois for the |
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| categories and specific purposes expressed in
Sections 2 |
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| through 8 of this Act, in the total amount of $30,693,149,369 |
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| $27,693,149,369.
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| The bonds authorized in this Section 2 and in Section 16 of |
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| this Act are
herein called "Bonds".
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| Of the total amount of Bonds authorized in this Act, up to |
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LRB096 04276 RCE 24953 a |
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| $2,200,000,000
in aggregate original principal amount may be |
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| issued and sold in accordance
with the Baccalaureate Savings |
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| Act in the form of General Obligation
College Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, up to |
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| $300,000,000 in
aggregate original principal amount may be |
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| issued and sold in accordance
with the Retirement Savings Act |
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| in the form of General Obligation
Retirement Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, the |
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| additional
$10,000,000,000 authorized by this amendatory Act |
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| of the 93rd General
Assembly shall be used solely as provided |
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| in Section 7.2.
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| The issuance and sale of Bonds pursuant to the General |
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| Obligation Bond
Act is an economical and efficient method of |
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| financing the long-term capital needs of
the State. This Act |
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| will permit the issuance of a multi-purpose General
Obligation |
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| Bond with uniform terms and features. This will not only lower
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| the cost of registration but also reduce the overall cost of |
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| issuing debt
by improving the marketability of Illinois General |
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| Obligation Bonds.
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| (Source: P.A. 95-1026, eff. 1-12-09.)
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| (30 ILCS 330/4) (from Ch. 127, par. 654)
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| Sec. 4. Transportation. The amount of $8,313,399,000 |
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| $5,313,399,000
is authorized for use by the Department of |
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| Transportation for the specific
purpose of promoting and |
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| assuring rapid, efficient, and safe highway, air and
mass |
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LRB096 04276 RCE 24953 a |
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| transportation for the inhabitants of the State by providing |
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| monies,
including the making of grants and loans, for the |
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| acquisition, construction,
reconstruction, extension and |
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| improvement of the following transportation
facilities and |
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| equipment, and for the acquisition of real property and
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| interests in real property required or expected to be required |
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| in connection
therewith as follows:
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| (a) $5,432,129,000 $3,432,129,000 for State highways, |
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| arterial
highways, freeways,
roads, bridges, structures |
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| separating highways and railroads and roads, and
bridges on |
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| roads maintained by counties, municipalities, townships or |
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| road
districts for the following specific purposes:
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| (1) $5,330,000,000 $3,330,000,000 for use statewide,
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| (2) $3,677,000 for use outside the Chicago urbanized
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| area,
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| (3) $7,543,000 for use within the Chicago urbanized |
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| area,
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| (4) $13,060,600 for use within the City of Chicago,
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| (5) $58,987,500 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will, and
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| (6) $18,860,900 for use outside the counties of Cook, |
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| DuPage, Kane,
Lake, McHenry and Will.
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| (b) $2,529,670,000 $1,529,670,000 for rail facilities and |
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| for
mass transit facilities, as defined in Section 2705-305 of |
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| the Department of
Transportation Law (20 ILCS 2705/2705-305), |
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| including rapid transit, rail, bus
and other equipment used in |
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| connection therewith by the State or any unit of
local |
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| government, special transportation district, municipal |
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| corporation or
other corporation or public authority |
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| authorized to provide and promote public
transportation within |
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| the State or two or more of the foregoing jointly, for
the |
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| following specific purposes:
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| (1) $2,433,870,000 $1,433,870,000 statewide,
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| (2) $83,350,000 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (3) $12,450,000 for use outside the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will.
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| (c) $351,600,000 for airport or aviation facilities and any |
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| equipment used
in connection therewith, including engineering |
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| and land acquisition costs,
by the State or any unit of local |
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| government, special transportation district,
municipal |
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| corporation or other corporation or public authority |
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| authorized
to provide public transportation within the State, |
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| or two or more of the
foregoing acting jointly, and for the |
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| making of deposits into the Airport
Land Loan Revolving Fund |
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| for loans to public airport owners pursuant to the
Illinois |
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| Aeronautics Act.
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| (Source: P.A. 91-39, eff. 6-15-99; 91-239, eff. 1-1-00; 91-712, |
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| eff. 7-1-00;
92-13, eff. 6-22-01.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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