SB2188 Enrolled

LRB096 11506 WGH 21986 b






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    AN ACT concerning local government.

 
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    Be it enacted by the People of the State of Illinois, 
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represented in the General Assembly: 

 
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    Section 5. The Local Government Debt Reform Act is amended  
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by changing Section 17.5 as follows:
 
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    (30 ILCS 350/17.5)
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    Sec. 17.5. Bond authorization by referendum. 
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    (a) Whenever applicable law
provides
that the 
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authorization of or the issuance of bonds is subject to either 
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a
referendum or backdoor referendum, the approval, once 
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obtained, remains
(i) for 5 years
after the date
of the 
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referendum or (ii) for 3 years after the end of the petition

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period for a
backdoor referendum.  However, whenever the 
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applicable law
provides
that the authorization of or the 
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issuance of bonds under the Water Pollution Control Loan 
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Program or the Public Water Supply Loan Program, under Title 
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IV-A of the Environmental Protection Act, is subject to either 
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a referendum or backdoor referendum, the approval, once 
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obtained, remains (i) for 7 years after the date of the 
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referendum or (ii) for 5 years after the end of the petition 
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period for a backdoor referendum.
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    (b) With respect to any bond approval under subsection (a), 
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if, for any reason, the bonds are not issued because of a court 
 


 






SB2188 Enrolled
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LRB096 11506 WGH 21986 b




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action, then the time limits set forth under subsection (a) for 
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the approval for the bonds is tolled during the time that the 
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court action is pending. This subsection (b) applies to any 
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bond issuance approved by referendum held on or after January 
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1, 2003 or by a backdoor referendum held on or after January 1, 
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2005. 
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(Source: P.A. 95-517, eff. 8-28-07.)
 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.