Sen. Dave Syverson
Filed: 10/15/2009
 
 

 




 

 		












09600SB2188sam001

LRB096 11506 HLH 29822 a






1

AMENDMENT TO SENATE BILL 2188 




2
    AMENDMENT NO. ______. Amend Senate Bill 2188 by replacing 
3
everything after the enacting clause with the following:

 
4
    "Section 5. The Local Government Debt Reform Act is amended  
5
by changing Section 17.5 as follows:
 
6
    (30 ILCS 350/17.5)
7
    Sec. 17.5. Bond authorization by referendum. 
8
    (a) Whenever applicable law
provides
that the 
9
authorization of or the issuance of bonds is subject to either 
10
a
referendum or backdoor referendum, the approval, once 
11
obtained, remains
(i) for 5 years
after the date
of the 
12
referendum or (ii) for 3 years after the end of the petition

13
period for a
backdoor referendum.  However, whenever the 
14
applicable law
provides
that the authorization of or the 
15
issuance of bonds under the Water Pollution Control Loan 
16
Program or the Public Water Supply Loan Program, under Title 
 


 






09600SB2188sam001
- 2 -
LRB096 11506 HLH 29822 a




1
IV-A of the Environmental Protection Act, is subject to either 
2
a referendum or backdoor referendum, the approval, once 
3
obtained, remains (i) for 7 years after the date of the 
4
referendum or (ii) for 5 years after the end of the petition 
5
period for a backdoor referendum.
6
    (b) With respect to any bond approval under subsection (a), 
7
if, for any reason, the bonds are not issued because of a court 
8
action, then the time limits set forth under subsection (a) for 
9
the approval for the bonds is tolled during the time that the 
10
court action is pending. This subsection (b) applies to any 
11
bond issuance approved by referendum held on or after January 
12
1, 2003 or by a backdoor referendum held on or after January 1, 
13
2005. 
14
(Source: P.A. 95-517, eff. 8-28-07.)

 
15
    Section 99. Effective date. This Act takes effect upon 
16
becoming law.".