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1 | AN ACT concerning renewable energy.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 1. Short title. This Act may be cited as the | ||||||||||||||||||||||||||
5 | Intergovernmental Cooperation Renewable Energy Act. | ||||||||||||||||||||||||||
6 | Section 5. Findings. The General Assembly finds that there | ||||||||||||||||||||||||||
7 | is a need to promote the use of renewable energy resources, the | ||||||||||||||||||||||||||
8 | availability of waste disposal facilities, including | ||||||||||||||||||||||||||
9 | facilities designed to convert waste to energy, and employment | ||||||||||||||||||||||||||
10 | in the construction and operation of those facilities. The | ||||||||||||||||||||||||||
11 | General Assembly further finds that a means of meeting that | ||||||||||||||||||||||||||
12 | need is to authorize governmental units to join together to | ||||||||||||||||||||||||||
13 | acquire and construct facilities for those purposes. | ||||||||||||||||||||||||||
14 | Section 10. Definitions. In this Act: | ||||||||||||||||||||||||||
15 | "Agency" means a joint action agency organized and | ||||||||||||||||||||||||||
16 | operating under this Act.
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17 | "Applicable law" means any provision of law, including this | ||||||||||||||||||||||||||
18 | Act, authorizing governmental units to issue bonds as the term | ||||||||||||||||||||||||||
19 | is defined in the Local Government Debt Reform Act. | ||||||||||||||||||||||||||
20 | "Board" means the board of directors of an agency organized | ||||||||||||||||||||||||||
21 | under this Act. | ||||||||||||||||||||||||||
22 | "Bonds" means bonds as that term is defined in the Local |
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1 | Government Debt Reform Act issued by an agency payable from one | ||||||
2 | or more of the agency's enterprise revenues and other sources | ||||||
3 | as the agency may lawfully pledge, which sources may include | ||||||
4 | governmental unit bonds or proceeds or payments to be made | ||||||
5 | pursuant to an intergovernmental agreement. | ||||||
6 | "Eligible project" means any land or rights in land, plant, | ||||||
7 | works, system, facility, machinery, intellectual property, or | ||||||
8 | other real or personal property of any nature whatsoever, | ||||||
9 | together with all parts thereof and appurtenances thereto, used | ||||||
10 | or useful in the collection, transportation, transfer, | ||||||
11 | storage, disposal, processing, treatment, recovery, and re-use | ||||||
12 | of waste, or in the generation, production, distribution, | ||||||
13 | transmission, purchase, sale, exchange, or interchange of | ||||||
14 | electrical energy derived from renewable or waste to energy | ||||||
15 | sources, and in the acquisition, extraction, conversion, | ||||||
16 | transportation, storage, or reprocessing of ancillary fuel of | ||||||
17 | any kind for any such purposes, or any interest in, or right to | ||||||
18 | the use, services, output, or capacity of any such plant, | ||||||
19 | works, system, or facilities. | ||||||
20 | "Enterprise revenues" means the revenues of a utility or | ||||||
21 | revenue producing enterprise.
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22 | "Governing body" means the legislative body, council, | ||||||
23 | board, commission, trustees, or any other body, by whatever | ||||||
24 | name it is known, having charge of the corporate affairs of a | ||||||
25 | governmental unit. | ||||||
26 | "Governmental unit" means a county, township, |
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1 | municipality, municipal corporation, unit of local government, | ||||||
2 | school district, public university, special district, public | ||||||
3 | corporation, or body corporate and politic, and all other local | ||||||
4 | governmental agencies, including any entity created by | ||||||
5 | intergovernmental agreement among any of the foregoing | ||||||
6 | governmental units, but does not include any office, officer, | ||||||
7 | department, division, bureau, board, commission, or similar | ||||||
8 | agency of the State. | ||||||
9 | "Governmental unit bond" means any bond as such term is | ||||||
10 | defined in the Local Government Debt Reform Act authorized or | ||||||
11 | issued by or on behalf of a governmental unit under applicable | ||||||
12 | law. | ||||||
13 | "Intergovernmental agreement" means the agreement by which | ||||||
14 | an agency is formed by governmental units pursuant to this Act. | ||||||
15 | "Members" means the governmental units joining pursuant to | ||||||
16 | intergovernmental agreement to organize an agency under this | ||||||
17 | Act. | ||||||
18 | "Resolution" means a resolution or ordinance, as may be | ||||||
19 | applicable, duly adopted by a governing body. | ||||||
20 | "Waste" means garbage; general household, commercial, | ||||||
21 | industrial, chemical, toxic, liquid, landscape, construction | ||||||
22 | waste; and all other materials by whatever name called that are | ||||||
23 | in need of disposal. | ||||||
24 | Section 15. Powers supplemental. The provisions of this Act | ||||||
25 | are intended to be supplemental and in addition to all other |
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1 | powers or authorities granted to any governmental unit, shall | ||||||
2 | be construed liberally, and shall not be construed as a | ||||||
3 | limitation of any power or authority otherwise granted. | ||||||
4 | Section 20. Actions by resolution. All actions to be taken | ||||||
5 | by a governmental unit or an agency pursuant to this Act shall | ||||||
6 | be fully effective if taken by resolution, but may also be | ||||||
7 | taken, at the discretion of a governing body, by ordinance. | ||||||
8 | Section 25. Agency status. An agency organized under this | ||||||
9 | Act shall be a unit of local government of the State and a body | ||||||
10 | politic and corporate. | ||||||
11 | Section 30. Organization. Any 2 or more governmental units, | ||||||
12 | contiguous or noncontiguous, may form an agency by the | ||||||
13 | execution of an intergovernmental agreement authorized by | ||||||
14 | resolution adopted by the governing body of each governmental | ||||||
15 | unit for the purpose of investigating the desirability of and | ||||||
16 | necessity for providing waste disposal or electrical energy | ||||||
17 | from renewable sources and to develop means for providing waste | ||||||
18 | disposal or electrical energy from renewable sources. The | ||||||
19 | intergovernmental agreement shall state or may state, as | ||||||
20 | applicable, all of the following: | ||||||
21 | (1) the name of the agency and the date of its | ||||||
22 | establishment, which may be by reference to a date or the | ||||||
23 | dates of the resolutions adopted by the governing bodies, |
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1 | and the duration of its existence, which may be perpetual; | ||||||
2 | (2) the names of the governmental units that have | ||||||
3 | adopted the intergovernmental agreement and constitute the | ||||||
4 | initial members; | ||||||
5 | (3) the names and addresses of the persons initially | ||||||
6 | appointed in the resolutions adopting the | ||||||
7 | intergovernmental agreement to serve as initial directors | ||||||
8 | on the board and provision for the organizational meeting | ||||||
9 | of the agency; | ||||||
10 | (4) provision for the terms of office of the directors | ||||||
11 | and for alternate directors, if so provided, but those | ||||||
12 | directors and alternate directors shall always be selected | ||||||
13 | and vacancies in their offices declared and filled by | ||||||
14 | resolutions adopted by the governing body of the respective | ||||||
15 | governmental units; | ||||||
16 | (5) if so provided, provision for weighted voting among | ||||||
17 | the governmental units or by the directors; | ||||||
18 | (6) the location by city, village, or incorporated town | ||||||
19 | in the State of the principal office of the agency; | ||||||
20 | (7) provision for amendment of the intergovernmental | ||||||
21 | agreement; | ||||||
22 | (8) if so provided, initial funding for the agency, | ||||||
23 | which may include binding agreements of the governmental | ||||||
24 | units to provide money or to issue governmental unit bonds | ||||||
25 | for the benefit of the agency;
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26 | (9) provisions for the disposition, division, or |
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1 | distribution of obligations, property, and assets of the | ||||||
2 | agency upon dissolution; and | ||||||
3 | (10) any other provisions for regulating the business | ||||||
4 | of the agency or the conduct of its affairs consistent with | ||||||
5 | this Act. | ||||||
6 | Section 35. Officers; board; bylaws. | ||||||
7 | (a) At the organizational meeting of the board, the | ||||||
8 | directors shall elect from their members a presiding officer to | ||||||
9 | preside over the meetings of the board and an alternate | ||||||
10 | presiding officer and may elect an executive board. The board | ||||||
11 | shall determine and designate in the agency's bylaws the titles | ||||||
12 | for the presiding officers. The directors shall also elect a | ||||||
13 | secretary and treasurer, who need not be directors. The board | ||||||
14 | may select other officers, employees, and agents as deemed to | ||||||
15 | be necessary, who need not be directors or residents of any of | ||||||
16 | the governmental units that are members. The board may | ||||||
17 | designate appropriate titles for all other officers, | ||||||
18 | employees, and agents. All persons selected by the board shall | ||||||
19 | hold their respective offices at the pleasure of the board and | ||||||
20 | give bond as may be required by the board. | ||||||
21 | (b) The board is the corporate authority of the agency and | ||||||
22 | shall exercise all the powers and manage and control all of the | ||||||
23 | affairs and property of the agency. The board shall have full | ||||||
24 | power to pass all necessary resolutions, rules, and regulations | ||||||
25 | for the proper management and conduct of the business of the |
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1 | agency and for carrying into effect the objects for which the | ||||||
2 | agency was established. The board shall have not less than one | ||||||
3 | meeting each year for the election of officers and the | ||||||
4 | transaction of any other business. Unless otherwise provided by | ||||||
5 | this Act, the intergovernmental agreement, or the bylaws, an | ||||||
6 | act of the majority of the directors present at a meeting at | ||||||
7 | which a quorum is present is the act of the board. | ||||||
8 | (c) The board shall adopt bylaws that may include, without | ||||||
9 | limitation, the following provisions: | ||||||
10 | (1) the rights and obligations of members, consistent | ||||||
11 | with the intergovernmental agreement and this Act; | ||||||
12 | (2) if not governed in the intergovernmental | ||||||
13 | agreement, then the manner of adding new members and the | ||||||
14 | rights and obligations of such members; | ||||||
15 | (3) the time, place, and date of the regular meeting or | ||||||
16 | meetings and the procedures for calling special meetings of | ||||||
17 | the board; | ||||||
18 | (4) procedural rules; | ||||||
19 | (5) the composition, powers, and responsibilities of | ||||||
20 | any committee or executive board; | ||||||
21 | (6) the criteria as called for in subsection (u) of | ||||||
22 | Section 55 of this Act; and | ||||||
23 | (7) other rules or provisions for regulating the | ||||||
24 | affairs of the agency as the board shall determine to be | ||||||
25 | advisable.
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1 | Section 40. Filing. Within 3 months after the | ||||||
2 | organizational meeting, the board shall cause a certified copy | ||||||
3 | of the intergovernmental agreement to be filed with the | ||||||
4 | Secretary of State. The Secretary of State shall accept the | ||||||
5 | filing and issue a certificate of approval over his or her | ||||||
6 | signature and the Great Seal of the State. The Secretary of | ||||||
7 | State shall make and keep a register of agencies established | ||||||
8 | under this Act. | ||||||
9 | Section 45. Place of business. Every agency shall maintain | ||||||
10 | an office in the State to be known as its principal office. If | ||||||
11 | an agency desires to change the location of that office, then | ||||||
12 | it shall file with the Secretary of State a certificate of | ||||||
13 | change of location, stating the new address and the effective | ||||||
14 | date of change. Meetings of the board may be held at any place | ||||||
15 | within the State, designated by the board, after notice. | ||||||
16 | Section 50. Lawful expense of governmental unit. Each | ||||||
17 | member shall have full power and authority to appropriate money | ||||||
18 | from its general or corporate fund, by whatever name known, for | ||||||
19 | the payment of the expenses of the agency and of its | ||||||
20 | representative in exercising its functions as a member of the | ||||||
21 | agency. Each member shall have full power and authority, | ||||||
22 | subject to the provisions of applicable law, to agree to the | ||||||
23 | issuance and delivery of governmental unit bonds to aid the | ||||||
24 | agency. |
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1 | Section 55. Powers and duties. | ||||||
2 | (a) An agency shall have all the powers and duties | ||||||
3 | enumerated in this Section in furtherance of the purposes of | ||||||
4 | this Act. In the exercise of those powers and duties it shall | ||||||
5 | be deemed to be performing an essential governmental function | ||||||
6 | and exercising a part of the sovereign powers of the State, | ||||||
7 | separate and distinct from member governmental units and shall | ||||||
8 | have the privileges, immunities, and rights of a public body | ||||||
9 | politic and corporate, municipal corporation, and unit of local | ||||||
10 | government, but shall not have taxing power. All powers of the | ||||||
11 | agency shall be exercised by its board unless otherwise | ||||||
12 | provided by the bylaws. | ||||||
13 | (b) An agency may plan, finance, acquire, construct, | ||||||
14 | reconstruct, own, lease, operate, maintain, repair, improve, | ||||||
15 | extend, or otherwise participate in, individually or jointly, | ||||||
16 | with other persons or other entities of any type, one or more | ||||||
17 | eligible projects, proposed, existing, or under construction, | ||||||
18 | within or outside of the State, acquire any interest in or any | ||||||
19 | right to products and services of an eligible project, | ||||||
20 | purchase, own, sell, dispose of, or otherwise participate in | ||||||
21 | securities issued in connection with the financing of an | ||||||
22 | eligible project or any portion thereof, and may act as agent, | ||||||
23 | or designate one or more persons, public agencies, or other | ||||||
24 | entities of any type, whether or not participating in an | ||||||
25 | eligible project, to act as its agent, in connection with the |
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1 | planning, financing, acquisition, construction, | ||||||
2 | reconstruction, ownership, lease, operation, maintenance, | ||||||
3 | repair, extension, or improvement of the eligible project. | ||||||
4 | (c) An agency may investigate the desirability of and | ||||||
5 | necessity for additional means of providing waste disposal or | ||||||
6 | electrical energy from renewable sources of any kind for such | ||||||
7 | purpose and may make studies, surveys, and estimates as may be | ||||||
8 | necessary to determine the feasibility and cost of those | ||||||
9 | activities. | ||||||
10 | (d) An agency may cooperate with other persons, public | ||||||
11 | agencies, or other entities of any type in the development of | ||||||
12 | means of providing waste disposal or electrical energy from | ||||||
13 | renewable sources of any kind for those purposes and may give | ||||||
14 | assistance with personnel and equipment in any eligible | ||||||
15 | project. | ||||||
16 | (e) An agency may apply for consents, authorizations, or | ||||||
17 | approvals required for any eligible project within its powers | ||||||
18 | and take all actions necessary to comply with the required | ||||||
19 | conditions. | ||||||
20 | (f) An agency may perform any act authorized by this Act | ||||||
21 | through, or by means of, its officers, agents, or employees or | ||||||
22 | by contract with others, including, without limitation, the | ||||||
23 | employment of engineers, architects, attorneys, appraisers, | ||||||
24 | financial advisors, and other consultants and employees as may | ||||||
25 | be required in the judgment of the agency, and fix, and pay | ||||||
26 | their compensation from funds available to the agency. |
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1 | (g) An agency may, individually or jointly with other | ||||||
2 | persons, public agencies, or other entities of any type, | ||||||
3 | acquire, hold, use, and dispose of income, revenues, funds, and | ||||||
4 | money. | ||||||
5 | (h) An agency may, individually or jointly with other | ||||||
6 | persons, public agencies, or other entities of any type, | ||||||
7 | acquire, own, hire, use, operate, and dispose of personal | ||||||
8 | property and any interest therein. | ||||||
9 | (i) An agency may, individually or jointly with other | ||||||
10 | persons, public agencies, or other entities of any type, | ||||||
11 | acquire, own, use, lease as lessor or lessee, operate and | ||||||
12 | dispose of real property and interests in real property, | ||||||
13 | including eligible projects existing, proposed, or under | ||||||
14 | construction, and make improvements upon the real property. | ||||||
15 | (j) An agency may grant the use by franchise, lease, or | ||||||
16 | otherwise and make charges for the use of any property or | ||||||
17 | facility owned or controlled by it. | ||||||
18 | (k) An agency may borrow money and issue negotiable bonds, | ||||||
19 | secured or unsecured, in accordance with this Act. | ||||||
20 | (l) An agency may invest money of the agency not required | ||||||
21 | for immediate use, including proceeds from the sale of any | ||||||
22 | bonds, in such obligations, securities, and other investments | ||||||
23 | as authorized by the provisions of the Public Funds Investment | ||||||
24 | Act. | ||||||
25 | (m) An agency may exercise the power of eminent domain in | ||||||
26 | the manner provided in the Eminent Domain Act. Any acquisition |
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1 | by eminent domain under this subsection (m) is limited in that | ||||||
2 | it shall not be exercised in the taking of any property, real | ||||||
3 | or personal, of a public agency or other entity of any type, | ||||||
4 | including an electric cooperative, as defined in Section 3.4 of | ||||||
5 | the Electric Supplier Act, that owns, operates or controls any | ||||||
6 | plant or equipment for the generation, transmission, or | ||||||
7 | distribution of electric power and energy in connection with | ||||||
8 | the furnishing thereof for sale or resale. | ||||||
9 | (n) An agency may determine the location and character of, | ||||||
10 | and all other matters in connection with any and all eligible | ||||||
11 | projects it is authorized to acquire, hold, establish, | ||||||
12 | effectuate, operate, or control. | ||||||
13 | (o) An agency may contract with any persons, public | ||||||
14 | agencies, or other entities of any type for the planning, | ||||||
15 | development, construction, or operation of any eligible | ||||||
16 | project or for the sale, transmission, or distribution of the | ||||||
17 | products and services of any eligible project, or for any | ||||||
18 | interest in the products or services or any right to the | ||||||
19 | products and services, on terms and for a period not in excess | ||||||
20 | of 50 years of time as its board shall determine. | ||||||
21 | (p) An agency may enter into any contract or agreement | ||||||
22 | necessary, appropriate or incidental to the effectuation of its | ||||||
23 | lawful purposes and the exercise of the powers granted by this | ||||||
24 | Act for a period not in excess of 50 years in time, including, | ||||||
25 | without limitation, contracts or agreements for the receipt and | ||||||
26 | disposal of waste and the purchase, sale, exchange, |
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1 | interchange, wheeling, pooling, transmission, distribution, or | ||||||
2 | storage of electrical energy and fuel of any kind for any | ||||||
3 | purposes, within and outside of the State, in amounts as it | ||||||
4 | shall determine to be necessary and appropriate to make the | ||||||
5 | most effective use of its powers and to meet its | ||||||
6 | responsibilities, on terms and for such period of time as its | ||||||
7 | board determines. Any contract or agreement may include | ||||||
8 | provisions for requirements purchases, restraints on resale or | ||||||
9 | other dealings, exclusive dealing, pricing, territorial | ||||||
10 | division, and other conduct or arrangements that may have an | ||||||
11 | anti-competitive effect. | ||||||
12 | (q) An agency may procure insurance against any losses in | ||||||
13 | connection with its property, operations, or assets in such | ||||||
14 | amounts and from such insurers as it deems desirable, or may | ||||||
15 | self-insure or enter into pooled insurance arrangements with | ||||||
16 | other governmental units against those losses. | ||||||
17 | (r) An agency may contract for and accept any gifts or | ||||||
18 | grants or loans of funds or property or financial or other aid | ||||||
19 | in any form from any source and may comply, subject to the | ||||||
20 | provisions of this Act, with the terms and conditions of the | ||||||
21 | contract. | ||||||
22 | (s) An agency may mortgage, pledge, and grant a security | ||||||
23 | interest in any or all of its real and personal property to | ||||||
24 | secure the payment of its bonds or contracts. | ||||||
25 | (t) That part of an eligible project owned by an agency | ||||||
26 | shall be exempt from property taxes. Each agency owning all or |
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1 | any part of an eligible project shall, in lieu of property | ||||||
2 | taxes, pay to any governmental unit authorized to levy property | ||||||
3 | taxes the amount that would be assessed as taxes on real | ||||||
4 | property of an eligible project if such eligible project were | ||||||
5 | otherwise subject to valuation and assessment. Payments in lieu | ||||||
6 | of taxes shall be due and shall bear interest if unpaid, as in | ||||||
7 | the cases of taxes on other property. Payments in lieu of taxes | ||||||
8 | made under this Act shall be treated in the same manner as | ||||||
9 | taxes for purposes of all procedural and substantive provisions | ||||||
10 | of law, except that no lien may be placed upon such property to | ||||||
11 | enforce the payment of those taxes. The remedy for such payment | ||||||
12 | shall be limited to mandamus or other civil action requesting | ||||||
13 | an order directing the agency to pay those taxes and interest, | ||||||
14 | if any. | ||||||
15 | (u) An agency shall not be subject to any taxes of the | ||||||
16 | State based on or measured by income, receipts, or revenue. | ||||||
17 | Each agency shall allocate 2% of the total net enterprise | ||||||
18 | revenues, calculated in accordance with generally accepted | ||||||
19 | accounting principles for municipal enterprise funds, and not | ||||||
20 | including any revenues or receipts not derived from the | ||||||
21 | enterprise, for educational purposes to one or more of a public | ||||||
22 | or private not-for-profit elementary or secondary school, | ||||||
23 | college, university, or technical, vocational, or trade school | ||||||
24 | to be named from time to time by the board located in the | ||||||
25 | governmental unit or units that comprise the agency. The board | ||||||
26 | shall distribute the stated revenues to the recipients |
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1 | according to criteria as may be established in the agency's | ||||||
2 | bylaws. | ||||||
3 | (v) An agency may adopt a corporate seal, and may sue and | ||||||
4 | be sued. | ||||||
5 | (w) An agency may exercise all other powers not | ||||||
6 | inconsistent with the Constitution of the State of Illinois or | ||||||
7 | the United States Constitution that may be reasonably necessary | ||||||
8 | or appropriate for or incidental to effectuate its authorized | ||||||
9 | purposes or to the exercise of any of the powers enumerated in | ||||||
10 | this Act.
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11 | Section 60. Bonds. An agency may issue bonds pursuant to | ||||||
12 | applicable law and the following provisions: | ||||||
13 | (1) An agency may from time to time issue its bonds in | ||||||
14 | such principal amounts as the agency shall deem necessary | ||||||
15 | to provide sufficient funds to carry out any of its | ||||||
16 | corporate purposes and powers, including, without | ||||||
17 | limitation, the acquisition, construction, or termination | ||||||
18 | of any eligible project to be owned or leased, as lessor or | ||||||
19 | lessee, by the agency, or the acquisition of any interest | ||||||
20 | therein or any right to the products or services thereof, | ||||||
21 | the funding or refunding of the principal of, redemption | ||||||
22 | premium, if any, and interest on, any bonds issued by it | ||||||
23 | whether or not the bonds or interest to be funded or | ||||||
24 | refunded have or have not become due, the payment of | ||||||
25 | engineering, legal and other expenses, together with |
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1 | interest for a period of 3 years or to a date one year | ||||||
2 | subsequent to the estimated date of completion of the | ||||||
3 | project, whichever period is longer, the establishment or | ||||||
4 | increase of reserves to secure or to pay these bonds or | ||||||
5 | interest, the providing of working capital and the payment | ||||||
6 | of all other costs or expenses of the agency incident to | ||||||
7 | and necessary or convenient to carry out its corporate | ||||||
8 | purposes and powers. | ||||||
9 | (2) Every issue of bonds of that agency shall be | ||||||
10 | payable out of the revenues or funds available to the | ||||||
11 | agency, subject to any agreements with the holders of | ||||||
12 | particular bonds pledging any particular revenues or | ||||||
13 | funds. An agency may issue those types of bonds as it may | ||||||
14 | determine, including bonds as to which the principal and | ||||||
15 | interest are payable exclusively from the revenues from one | ||||||
16 | or more projects, or from an interest or a right to the | ||||||
17 | products and services thereof, or from one or more revenue | ||||||
18 | producing contracts made by the agency, or its revenues | ||||||
19 | generally. Any bonds may be additionally secured by a | ||||||
20 | pledge of any grant, subsidy, or contribution from any | ||||||
21 | source or a pledge of any income or revenues, funds, or | ||||||
22 | moneys of the agency from any source whatsoever. | ||||||
23 | (3) All bonds of an agency shall have all the qualities | ||||||
24 | of negotiable instruments under the laws of this State. | ||||||
25 | (4) Bonds of an agency shall be authorized by | ||||||
26 | resolution of its board and may be issued under a |
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1 | resolution or under a trust indenture or other security | ||||||
2 | agreement, in one or more series, and shall bear such date | ||||||
3 | or dates, mature at such time or times within the estimated | ||||||
4 | period of usefulness of the project involved and in any | ||||||
5 | event not more than 40 years after the date thereof, bear | ||||||
6 | interest at such rate or rates without regard to any | ||||||
7 | limitation in any other law, be in those denominations, be | ||||||
8 | in a form, either coupon or registered, carry the | ||||||
9 | conversion, registration, and exchange privileges, have a | ||||||
10 | rank or priority, be executed in such manner, be payable in | ||||||
11 | a medium of payment at such place or places within or | ||||||
12 | outside of the State, be subject to the terms of redemption | ||||||
13 | with or without premium, and contain or be subject to other | ||||||
14 | terms as the resolution, trust indenture, or other security | ||||||
15 | agreement may provide, and shall not be restricted by the | ||||||
16 | provisions of any other law limiting the amounts, | ||||||
17 | maturities, interest rates, or other terms of obligations | ||||||
18 | of units of local government or private parties. The bonds | ||||||
19 | shall be sold in such manner and at prices as the board | ||||||
20 | shall determine, at private or public sale. | ||||||
21 | (5) Bonds of an agency may be issued under the | ||||||
22 | provisions of this Act without obtaining the consent of any | ||||||
23 | department, division, commission, board, bureau, or agency | ||||||
24 | of the State or of any member, except as may be limited in | ||||||
25 | an intergovernmental agreement, and without any other | ||||||
26 | proceeding or the happening of any other condition or |
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1 | occurrence except as specifically required by this Act. | ||||||
2 | (6) The resolution, trust indenture, or other security | ||||||
3 | agreement under which any bonds are issued shall constitute | ||||||
4 | a contract with the holders of the bonds and may contain | ||||||
5 | provisions, among others, prescribing any of the | ||||||
6 | following: | ||||||
7 | (A) the terms and provisions of the bonds; | ||||||
8 | (B) the mortgage or pledge of and the grant of a | ||||||
9 | security interest in any real or personal property and | ||||||
10 | all or any part of the revenue from any project or any | ||||||
11 | revenue producing contract made by the agency to secure | ||||||
12 | the payment of bonds, subject to any agreements with | ||||||
13 | the holders of bonds which might then exist; | ||||||
14 | (C) the custody, collection, securing, | ||||||
15 | investments, and payment of any revenues, assets, | ||||||
16 | money, funds, or property with respect to which the | ||||||
17 | agency may have any rights or interest; | ||||||
18 | (D) the rates or charges for the products or | ||||||
19 | services rendered by the agency, the amount to be | ||||||
20 | raised by the rates or charges, and the use and | ||||||
21 | disposition of any or all revenue; | ||||||
22 | (E) the creation of reserves or sinking funds and | ||||||
23 | the regulation and disposition thereof;
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24 | (F) the purposes to which the proceeds from the | ||||||
25 | sale of any bonds then or thereafter to be issued may | ||||||
26 | be applied, and the pledge of revenues to secure the |
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1 | payment of the bonds; | ||||||
2 | (G) the limitations on the issuance of any | ||||||
3 | additional bonds, the terms upon which additional | ||||||
4 | bonds may be issued and secured, and the refunding of | ||||||
5 | outstanding bonds; | ||||||
6 | (H) the rank or priority of any bonds with respect | ||||||
7 | to any lien or security; | ||||||
8 | (I) the creation of special funds or moneys to be | ||||||
9 | held in trust or otherwise for operational expenses, | ||||||
10 | payment, or redemption of bonds, reserves or other | ||||||
11 | purposes, and the use and disposition of moneys held in | ||||||
12 | those funds; | ||||||
13 | (J) the procedure by which the terms of any | ||||||
14 | contract with or for the benefit of the holders of | ||||||
15 | bonds may be amended or revised, the amount of bonds | ||||||
16 | the holders of which must consent thereto, and the | ||||||
17 | manner in which consent may be given; | ||||||
18 | (K) the definition of the acts or omissions to act | ||||||
19 | that shall constitute a default in the duties of the | ||||||
20 | agency to holders of its bonds, and the rights and | ||||||
21 | remedies of the holders in the event of default, | ||||||
22 | including, if the agency so determines, the right to | ||||||
23 | accelerate the due date of the bonds or the right to | ||||||
24 | appoint a receiver or receivers of the property or | ||||||
25 | revenues subject to the lien of the resolution, trust | ||||||
26 | indenture, or other security agreement; |
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1 | (L) any other or additional agreements with or for | ||||||
2 | the benefit of the holders of bonds or any covenants or | ||||||
3 | restrictions necessary or desirable to safeguard the | ||||||
4 | interests of the holders; | ||||||
5 | (M) the custody of its properties or investments, | ||||||
6 | the safekeeping thereof, the insurance to be carried | ||||||
7 | thereon, and the use and disposition of insurance | ||||||
8 | proceeds; | ||||||
9 | (N) the vesting in a trustee or trustees, within or | ||||||
10 | outside of the State, of such properties, rights, | ||||||
11 | powers and duties in trust as the agency may determine; | ||||||
12 | or the limiting or abrogating of the rights of the | ||||||
13 | holders of any bonds to appoint a trustee, or the | ||||||
14 | limiting of the rights, powers, and duties of the | ||||||
15 | trustee; or | ||||||
16 | (O) the appointment of and the establishment of the | ||||||
17 | duties and obligations of any paying agent or other | ||||||
18 | fiduciary within or outside of the State. | ||||||
19 | (7) For the security of bonds issued or to be issued by | ||||||
20 | an agency, the agency may mortgage or execute deeds of | ||||||
21 | trust of the whole or any part of its property and | ||||||
22 | franchises. Any pledge of revenues, securities, contract | ||||||
23 | rights, or other personal property made by an agency | ||||||
24 | pursuant to this Act shall be valid and binding from the | ||||||
25 | date the pledge is made. The revenues, securities, contract | ||||||
26 | rights, or other personal property so pledged and then held |
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1 | or thereafter received by the agency or any fiduciary shall | ||||||
2 | immediately be subject to the lien of the pledge without | ||||||
3 | any physical delivery thereof or further act, and the lien | ||||||
4 | of the pledge shall be valid and binding as against all | ||||||
5 | parties having claims of any kind in tort, contract, or | ||||||
6 | otherwise against the agency without regard to whether the | ||||||
7 | parties have notice. The resolution, trust indenture, | ||||||
8 | security agreement, or other instrument by which a pledge | ||||||
9 | is created shall be recorded in the county in which the | ||||||
10 | principal office is located in the manner provided by law. | ||||||
11 | (8) Neither the officials, the directors, nor the | ||||||
12 | members of an agency nor any person executing bonds shall | ||||||
13 | be liable personally on the bonds or be subject to any | ||||||
14 | personal liability or accountability by reason of the | ||||||
15 | issuance thereof. An agency shall have power to indemnify | ||||||
16 | and to purchase and maintain insurance on behalf of any | ||||||
17 | director, officer, employee, or agent of the agency, in | ||||||
18 | connection with any threatened, pending, or completed | ||||||
19 | action, suit, or proceeding. | ||||||
20 | (9) An agency shall have power to purchase out of any | ||||||
21 | available funds, bonds, and to hold for re-issuance, | ||||||
22 | pledge, cancel, or retire the bonds and coupons prior to | ||||||
23 | maturity, subject to and in accordance with any agreements | ||||||
24 | with the holders. | ||||||
25 | (10) The principal of and interest upon any bonds | ||||||
26 | issued by an agency shall be payable solely from the |
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1 | enterprise revenues or funds pledged or available for their | ||||||
2 | payment as authorized in this Act. Each bond shall contain | ||||||
3 | a statement that it constitutes an obligation of the agency | ||||||
4 | issuing the bond, that the principal and interest are | ||||||
5 | payable solely from revenues or funds of the agency and | ||||||
6 | that neither the State nor any political subdivision | ||||||
7 | thereof, except the issuer, nor any governmental unit which | ||||||
8 | is a member of the agency, is obligated to pay the | ||||||
9 | principal or interest on the bonds and that neither the | ||||||
10 | faith and credit nor the taxing power of the State or any | ||||||
11 | political subdivision or of any governmental unit is | ||||||
12 | pledged to the payment of the principal of or the interest | ||||||
13 | on the bonds.
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14 | Section 65. Charges. An agency may establish, levy, and | ||||||
15 | collect or may authorize, by contract, franchise, lease, or | ||||||
16 | otherwise, the establishment, levying, and collection of | ||||||
17 | rents, rates, and other charges for the products and services | ||||||
18 | afforded by the agency or by or in connection with any eligible | ||||||
19 | project or properties that it may construct, acquire, own, | ||||||
20 | operate, or control or with respect to which it may have any | ||||||
21 | interest or any right to the products and services thereof as | ||||||
22 | it may deem necessary, proper, desirable or reasonable. Rents, | ||||||
23 | rates, and other charges shall be established so as to be | ||||||
24 | sufficient to meet the operation, maintenance and other | ||||||
25 | expenses thereof, including reasonable reserves, interest, |
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1 | principal payments, and payments into one or more sinking funds | ||||||
2 | for the retirement of principal. An agency may pledge its | ||||||
3 | rates, rents, and other revenue, or any part thereof, as | ||||||
4 | security for the repayment, with interest and premium, if any, | ||||||
5 | of any moneys borrowed by it or advanced to it for any of its | ||||||
6 | authorized purposes and as security for the payment of amounts | ||||||
7 | due and owing by it under any contract. | ||||||
8 | Section 70. Governmental units may contract. | ||||||
9 | (a) In order to accomplish the purposes of this Act, a | ||||||
10 | governmental unit may enter into and carry out contracts and | ||||||
11 | agreements for the sale, lease, or other use of property, real | ||||||
12 | or personal, cooperative provision of services, such as police | ||||||
13 | services, the delivery of waste to, or the purchase of power | ||||||
14 | from, an agency, collection, or transmission services, | ||||||
15 | development services and other services. Contracts must comply | ||||||
16 | with the following: | ||||||
17 | (1) Any contract and agreement shall be for a period | ||||||
18 | not to exceed 50 years and shall contain other terms, | ||||||
19 | conditions, and provisions consistent with the provisions | ||||||
20 | of this Act, as the governing body of such governmental | ||||||
21 | unit shall approve, including, without limitation, | ||||||
22 | provisions in which the governmental unit is obligated to | ||||||
23 | pay for the products and services of an agency without | ||||||
24 | set-off or counterclaim and irrespective of whether such | ||||||
25 | products or services are furnished, made available, or |
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| |||||||
1 | delivered to the governmental unit or whether any project | ||||||
2 | contemplated by any such contract and agreement is | ||||||
3 | completed, operable, or operating, and notwithstanding | ||||||
4 | suspension, interruption, interference, reduction, or | ||||||
5 | curtailment of the products and services of the project. | ||||||
6 | (2) Any contract and agreement may be pledged by the | ||||||
7 | agency to secure its obligations and may provide that, if | ||||||
8 | one or more governmental units defaults in the payment of | ||||||
9 | its obligations under the contract and agreement, the | ||||||
10 | remaining governmental units having the contracts and | ||||||
11 | agreements shall be required to pay for and shall be | ||||||
12 | entitled proportionately to use or otherwise dispose of the | ||||||
13 | products and services that were to be purchased by the | ||||||
14 | defaulting governmental unit. | ||||||
15 | (3) Any contract and agreement providing for payments | ||||||
16 | by a governmental unit shall be an obligation of such | ||||||
17 | governmental unit payable from and secured by such lawfully | ||||||
18 | available funds as may be made pursuant to applicable law. | ||||||
19 | Notwithstanding the sources of funds pledged, any contract | ||||||
20 | between the agency and its members with respect to an | ||||||
21 | eligible project shall not constitute an indebtedness of | ||||||
22 | such members within any statutory limitation. | ||||||
23 | (4) Nothing in this Act shall be construed to preclude | ||||||
24 | a governmental unit from appropriating and using taxes and | ||||||
25 | other revenues received in any year to make payments due or | ||||||
26 | to comply with covenants to be performed during that year |
| |||||||
| |||||||
1 | under any contract or agreement for a term of years entered | ||||||
2 | into as contemplated in this Act, subject to the provisions | ||||||
3 | of applicable law. | ||||||
4 | (b) Any contract or agreement may include provisions for | ||||||
5 | requirements purchases, restraints on resale, or other | ||||||
6 | dealings, exclusive dealing, pricing, territorial division, | ||||||
7 | and other conduct or arrangements which may have an | ||||||
8 | anti-competitive effect. | ||||||
9 | (c) Notwithstanding the provisions of any other law, in the | ||||||
10 | making of a contract or agreement between an agency and a | ||||||
11 | member, the director of the agency who represents the member | ||||||
12 | must recuse himself or herself from participation in | ||||||
13 | discussions or voting as director, but may participate and vote | ||||||
14 | in his or her capacity as an officer of the governing body of | ||||||
15 | such member, and the participation and voting shall not be a | ||||||
16 | conflict of interest. | ||||||
17 | Section 90. The Eminent Domain Act is amended by adding | ||||||
18 | Section 15-5-45 as follows: | ||||||
19 | (735 ILCS 30/15-5-45 new)
| ||||||
20 | Sec. 15-5-45. Eminent domain powers in New Acts. The | ||||||
21 | following provisions of law may include express grants of the | ||||||
22 | power to acquire property by condemnation or eminent domain: | ||||||
23 | Intergovernmental Cooperation Renewable Energy Act; agencies; |
| |||||||
| |||||||
1 | for purposes of using renewable energy resources. | ||||||
2 | Section 97. Severability. The provisions of this Act are | ||||||
3 | severable under Section 1.31 of the Statute on Statutes.
| ||||||
4 | Section 99. Effective date. This Act takes effect upon | ||||||
5 | becoming law.
|