Rep. Kelly M. Burke

Filed: 3/12/2019

 

 


 

 


 
10100HB1577ham001LRB101 06765 AWJ 56150 a

1
AMENDMENT TO HOUSE BILL 1577

2    AMENDMENT NO. ______. Amend House Bill 1577 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Metropolitan Water Reclamation District
5Act is amended by changing Section 9.6a as follows:
 
6    (70 ILCS 2605/9.6a)  (from Ch. 42, par. 328.6a)
7    Sec. 9.6a. Bonds for sewage treatment and water quality
8improvements. The corporate authorities of a sanitary
9district, in order to provide funds required for the replacing,
10remodeling, completing, altering, constructing and enlarging
11of sewage treatment works, administrative buildings, water
12quality improvement projects, or flood control facilities, and
13additions therefor, pumping stations, tunnels, conduits,
14intercepting sewers and outlet sewers, together with the
15equipment, including air pollution equipment, and
16appurtenances thereto, to acquire property, real, personal or

 

 

10100HB1577ham001- 2 -LRB101 06765 AWJ 56150 a

1mixed, necessary for said purposes, for costs and expenses for
2the acquisition of the sites and rights-of-way necessary
3thereto, and for engineering expenses for designing and
4supervising the construction of such works, may issue on or
5before December 31, 2034 2024, in addition to all other
6obligations heretofore or herein authorized, bonds, notes or
7other evidences of indebtedness for such purposes in an
8aggregate amount at any one time outstanding not to exceed
93.35% of the equalized assessed valuation of all taxable
10property within the sanitary district, to be ascertained by the
11last assessment for State and local taxes previous to the
12issuance of any such obligations. Such obligations shall be
13issued without submitting the question of such issuance to the
14legal voters of such sanitary district for approval.
15    The corporate authorities may sell such obligations at
16private or public sale and enter into any contract or agreement
17necessary, appropriate or incidental to the exercise of the
18powers granted by this Act, including, without limitation,
19contracts or agreements for the sale and purchase of such
20obligations and the payment of costs and expenses incident
21thereto. The corporate authorities may pay such costs and
22expenses, in whole or in part, from the corporate fund.
23    Such obligations shall be issued from time to time only in
24amounts as may be required for such purposes but the amount of
25such obligations issued during any one budget year shall not
26exceed $150,000,000 plus the amount of any obligations

 

 

10100HB1577ham001- 3 -LRB101 06765 AWJ 56150 a

1authorized by this Act to be issued during the 3 budget years
2next preceding the year of issuance but which were not issued,
3provided, however, that this limitation shall not be applicable
4(i) to the issuance of obligations to refund bonds, notes or
5other evidences of indebtedness, (ii) to obligations issued to
6provide for the repayment of money received from the Water
7Pollution Control Revolving Fund for the construction or repair
8of wastewater treatment works, and (iii) to obligations issued
9as part of the American Recovery and Reinvestment Act of 2009,
10issued prior to January 1, 2011, that are commonly known as
11"Build America Bonds" as authorized by Section 54AA of the
12Internal Revenue Code of 1986, as amended. Each ordinance
13authorizing the issuance of the obligations shall state the
14general purpose or purposes for which they are to be issued,
15and the corporate authorities may at any time thereafter pass
16supplemental appropriations ordinances appropriating the
17proceeds from the sale of such obligations for such purposes.
18    The corporate authorities may issue bonds, notes or other
19evidences of indebtedness in an amount necessary to provide
20funds to refund outstanding obligations issued pursuant to this
21Section, including interest accrued or to accrue thereon.
22(Source: P.A. 96-828, eff. 12-2-09; 96-1308, eff. 1-1-11;
2397-367, eff. 8-15-11.)".