96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB3541


 
Introduced 2/10/2010, by Sen. Jeffrey M. Schoenberg
 
SYNOPSIS AS INTRODUCED:
 		





 


  



70 ILCS 2605/9.6a
  from Ch. 42, par. 328.6a








     Amends the Metropolitan Water Reclamation District Act.  Removes a limitation providing that sanitary districts may issue certain bonds only until December 31, 2016. 
  















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FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 




  






SB3541

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1
    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 Metropolitan Water Reclamation District Act 
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is amended  by changing Section 9.6a as follows:
 



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    (70 ILCS 2605/9.6a)  (from Ch. 42, par. 328.6a)


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    Sec. 9.6a. Bonds for sewage treatment and water quality 
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improvements. The corporate authorities of a sanitary 
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district, in
order to provide funds required for the replacing, 
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remodeling,
completing, altering, constructing and enlarging 
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of sewage treatment
works, water quality improvement projects,  
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or flood control facilities, and additions therefor, pumping

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stations, tunnels, conduits, intercepting sewers and outlet 
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sewers,
together with the equipment, including air pollution 
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equipment, and
appurtenances thereto, to acquire property, 
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real, personal or mixed,
necessary for said purposes, for costs 
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and expenses for the acquisition
of the sites and rights-of-way 
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necessary thereto, and for engineering
expenses for designing 
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and supervising the construction of such works,
may issue on or 
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before December 31, 2016, in addition to all
other obligations 
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heretofore or herein authorized, bonds, notes or
other 
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evidences of indebtedness for such purposes in an aggregate

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amount at any one time outstanding not to exceed 3.35% of the 
 


 






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equalized
assessed valuation of all taxable property within the 
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sanitary district,
to be ascertained by the last assessment for 
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State and local taxes
previous to the issuance of any such 
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obligations.  Such obligations shall be
issued without 
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submitting the question of such issuance to the legal voters
of 
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such sanitary district for approval.

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    The corporate authorities may sell such obligations at 
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private or
public sale and enter into any contract or agreement 
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necessary, appropriate
or incidental to the exercise of the 
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powers granted by this Act, including,
without limitation, 
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contracts or agreements for the sale and purchase of
such 
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obligations and the payment of costs and expenses incident 
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thereto.
The corporate authorities may pay such costs and 
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expenses, in whole or in
part, from the corporate fund.

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    Such obligations shall be issued from time to time only in 
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amounts as may
be required for such purposes but the amount of 
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such obligations issued during
any one budget year shall not 
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exceed $150,000,000 plus
the amount of any obligations 
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authorized by this Act to be issued during the 3
budget years 
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next preceding the year of issuance but which were not issued,

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provided, however, that this limitation shall not be applicable 
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(i) to the issuance
of obligations to refund bonds, notes or 
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other evidences of indebtedness,
(ii) to obligations issued to 
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provide for the repayment of money received
from the Water 
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Pollution Control Revolving Fund for the construction or
repair 
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of wastewater treatment works, and (iii) to obligations issued 
 


 






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as part of the American Recovery and Reinvestment Act of 2009, 
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issued prior to January 1, 2011, that are commonly known as 
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"Build America Bonds" as authorized by Section 54AA of the 
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Internal Revenue Code of 1986, as amended.  Each ordinance 
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authorizing the
issuance of the obligations shall state the 
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general purpose or purposes for
which they are to be issued, 
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and the corporate authorities may at any time
thereafter pass 
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supplemental appropriations ordinances appropriating the

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proceeds from the sale of such obligations for such purposes.

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    The corporate authorities may issue bonds, notes or other 
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evidences of
indebtedness in an amount necessary to provide 
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funds to refund outstanding
obligations issued pursuant to this 
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Section, including interest accrued or
to accrue thereon.

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(Source: P.A. 95-125, eff. 8-13-07; 95-412, eff. 8-24-07; 
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96-828, eff. 12-2-09.)