| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
1 | AN ACT concerning transportation.
| ||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||
4 | Section 5. The Illinois Finance Authority Act is amended by | ||||||||||||||||||||||||
5 | changing Section 801-40 as follows:
| ||||||||||||||||||||||||
6 | (20 ILCS 3501/801-40)
| ||||||||||||||||||||||||
7 | Sec. 801-40. In addition to the powers otherwise authorized | ||||||||||||||||||||||||
8 | by law and in
addition to the foregoing general corporate | ||||||||||||||||||||||||
9 | powers, the Authority shall also
have the following additional | ||||||||||||||||||||||||
10 | specific powers to be exercised in furtherance of
the purposes | ||||||||||||||||||||||||
11 | of this Act.
| ||||||||||||||||||||||||
12 | (a) The Authority shall have power (i) to accept grants, | ||||||||||||||||||||||||
13 | loans or
appropriations from the federal government or the | ||||||||||||||||||||||||
14 | State, or any agency or
instrumentality thereof, to be used for | ||||||||||||||||||||||||
15 | the operating expenses of the
Authority,
or for any purposes of | ||||||||||||||||||||||||
16 | the Authority, including the making of direct loans of
such | ||||||||||||||||||||||||
17 | funds with respect to projects, and (ii) to enter into any | ||||||||||||||||||||||||
18 | agreement with
the federal government or the State, or any | ||||||||||||||||||||||||
19 | agency or instrumentality thereof,
in relationship to such | ||||||||||||||||||||||||
20 | grants, loans or appropriations.
| ||||||||||||||||||||||||
21 | (b) The Authority shall have power to procure and enter | ||||||||||||||||||||||||
22 | into contracts for
any
type of insurance and indemnity | ||||||||||||||||||||||||
23 | agreements covering loss or damage to property
from any cause, |
| |||||||
| |||||||
1 | including loss of use and occupancy, or covering any other
| ||||||
2 | insurable risk.
| ||||||
3 | (c) The Authority shall have the continuing power to issue | ||||||
4 | bonds for its
corporate purposes. Bonds may be issued by the | ||||||
5 | Authority in one or more series
and may provide for the payment | ||||||
6 | of any interest deemed necessary on such bonds,
of the costs of | ||||||
7 | issuance of such bonds, of any premium on any insurance, or of
| ||||||
8 | the cost of any guarantees, letters of credit or other similar | ||||||
9 | documents, may
provide for the funding of the reserves deemed | ||||||
10 | necessary in connection with
such bonds, and may provide for | ||||||
11 | the refunding or advance refunding of any bonds
or
for accounts | ||||||
12 | deemed necessary in connection with any purpose of the | ||||||
13 | Authority.
The bonds may bear interest payable at any time or | ||||||
14 | times and at any rate or
rates, notwithstanding any other | ||||||
15 | provision of law to the contrary, and such
rate or rates may be | ||||||
16 | established by an index or formula which may be
implemented or
| ||||||
17 | established by persons appointed or retained therefor by the | ||||||
18 | Authority, or may
bear no interest or may bear interest payable | ||||||
19 | at maturity or upon redemption
prior to maturity, may bear such | ||||||
20 | date or dates, may be payable at such time or
times and at such | ||||||
21 | place or places, may mature at any time or times not later
than | ||||||
22 | 40 years from the date of issuance, may be sold at public or | ||||||
23 | private sale
at such time or times and at such price or prices, | ||||||
24 | may be secured by such
pledges, reserves, guarantees, letters | ||||||
25 | of credit, insurance contracts or other
similar credit support | ||||||
26 | or liquidity instruments, may be executed in such
manner, may |
| |||||||
| |||||||
1 | be subject to redemption prior to maturity, may provide for the
| ||||||
2 | registration of the bonds, and may be subject to such other | ||||||
3 | terms and
conditions all as may
be provided by the resolution | ||||||
4 | or indenture authorizing the issuance of such
bonds. The holder | ||||||
5 | or holders of any bonds issued by the Authority may bring
suits | ||||||
6 | at law or proceedings in equity to compel the performance and | ||||||
7 | observance
by any person or by the Authority or any of its | ||||||
8 | agents or employees of any
contract or covenant made with the | ||||||
9 | holders of such bonds and to compel such
person or the | ||||||
10 | Authority and any of its agents or employees to perform any
| ||||||
11 | duties
required to be performed for the benefit of the holders | ||||||
12 | of any such bonds by
the provision of the resolution | ||||||
13 | authorizing their issuance, and to enjoin such
person or the | ||||||
14 | Authority and any of its agents or employees from taking any
| ||||||
15 | action in conflict with any such contract or covenant.
| ||||||
16 | Notwithstanding the form and tenor of any such bonds and in the | ||||||
17 | absence of any
express recital on the face thereof that it is | ||||||
18 | non-negotiable, all such bonds
shall be negotiable | ||||||
19 | instruments. Pending the preparation and execution of any
such | ||||||
20 | bonds, temporary bonds may be issued as provided by the | ||||||
21 | resolution.
The bonds shall be sold by the Authority in such | ||||||
22 | manner as it shall determine.
The bonds may be secured as | ||||||
23 | provided in the authorizing resolution by the
receipts, | ||||||
24 | revenues, income and other available funds of the Authority and | ||||||
25 | by
any amounts derived by the Authority from the loan agreement | ||||||
26 | or lease agreement
with respect to the project or projects; and |
| |||||||
| |||||||
1 | bonds may be issued as general
obligations of the Authority | ||||||
2 | payable from such revenues, funds and obligations
of the | ||||||
3 | Authority as the bond resolution shall provide, or may be | ||||||
4 | issued as
limited obligations with a claim for payment solely | ||||||
5 | from such revenues, funds
and obligations as the bond | ||||||
6 | resolution shall provide. The Authority may grant a
specific | ||||||
7 | pledge or assignment of and lien on or security interest in | ||||||
8 | such
rights, revenues, income, or amounts and may grant a | ||||||
9 | specific pledge or
assignment of and lien on or security | ||||||
10 | interest in any reserves, funds or
accounts established in the | ||||||
11 | resolution authorizing the issuance of bonds. Any
such pledge, | ||||||
12 | assignment, lien or security interest for the benefit of the
| ||||||
13 | holders of the Authority's bonds shall be valid and binding | ||||||
14 | from the time the
bonds are issued without any physical | ||||||
15 | delivery or further act, and shall be
valid and binding as | ||||||
16 | against and prior to the claims of all other parties
having | ||||||
17 | claims against the Authority or any other person irrespective | ||||||
18 | of whether
the
other parties have notice of the pledge, | ||||||
19 | assignment, lien or security interest.
As evidence of such | ||||||
20 | pledge, assignment, lien and security interest, the
Authority | ||||||
21 | may execute and deliver a mortgage, trust agreement, indenture | ||||||
22 | or
security agreement or an assignment thereof.
A remedy for | ||||||
23 | any breach or default of the terms of any such agreement by the
| ||||||
24 | Authority may be by mandamus proceedings in any court of | ||||||
25 | competent jurisdiction
to compel the performance and | ||||||
26 | compliance therewith, but the agreement may
prescribe by whom |
| |||||||
| |||||||
1 | or on whose behalf such action may be instituted.
It is | ||||||
2 | expressly understood that the Authority may, but need not, | ||||||
3 | acquire title
to any project with respect to which it exercises | ||||||
4 | its authority.
| ||||||
5 | (d) With respect to the powers granted by this Act, the | ||||||
6 | Authority may adopt
rules and regulations prescribing the | ||||||
7 | procedures by which persons may apply for
assistance under this | ||||||
8 | Act. Nothing herein shall be deemed to preclude the
Authority, | ||||||
9 | prior to the filing of any formal application, from conducting
| ||||||
10 | preliminary discussions and investigations with respect to the | ||||||
11 | subject matter
of any prospective application.
| ||||||
12 | (e) The Authority shall have power to acquire by purchase, | ||||||
13 | lease, gift or
otherwise any property or rights therein from | ||||||
14 | any person useful for its
purposes, whether improved for the | ||||||
15 | purposes of any prospective project, or
unimproved. The | ||||||
16 | Authority may also accept any donation of funds for its
| ||||||
17 | purposes from any such source. The Authority shall have no | ||||||
18 | independent power of
condemnation but may acquire any property | ||||||
19 | or rights therein obtained upon
condemnation by any other | ||||||
20 | authority, governmental entity or unit of local
government with | ||||||
21 | such power.
| ||||||
22 | (f) The Authority shall have power to develop, construct | ||||||
23 | and improve either
under its own direction, or through | ||||||
24 | collaboration with any approved applicant,
or to acquire | ||||||
25 | through purchase or otherwise, any project, using for such
| ||||||
26 | purpose the proceeds derived from the sale of its bonds or from |
| |||||||
| |||||||
1 | governmental
loans or
grants, and to hold title in the name of | ||||||
2 | the Authority to such projects.
| ||||||
3 | (g) The Authority shall have power to lease pursuant to a | ||||||
4 | lease agreement
any
project so developed and constructed or | ||||||
5 | acquired to the approved tenant on such
terms and conditions as | ||||||
6 | may be appropriate to further the purposes of this Act
and to | ||||||
7 | maintain the credit of the Authority. Any such lease may | ||||||
8 | provide for
either the Authority or the approved tenant to | ||||||
9 | assume initially, in whole or in
part, the costs of | ||||||
10 | maintenance, repair and improvements during the leasehold
| ||||||
11 | period. In no case, however, shall the total rentals from any | ||||||
12 | project during
any initial leasehold period or the total loan | ||||||
13 | repayments to be made pursuant
to any loan agreement, be less | ||||||
14 | than an amount necessary to return over such
lease
or loan | ||||||
15 | period (1) all costs incurred in connection with the | ||||||
16 | development,
construction, acquisition or improvement of the | ||||||
17 | project and for repair,
maintenance and improvements thereto | ||||||
18 | during the period of the lease or loan;
provided, however, that | ||||||
19 | the rentals or loan repayments need not include costs
met | ||||||
20 | through the use of funds other than those obtained by the | ||||||
21 | Authority through
the issuance of its bonds or governmental | ||||||
22 | loans; (2) a reasonable percentage
additive to be agreed upon | ||||||
23 | by the Authority and the borrower or tenant to cover
a properly | ||||||
24 | allocable portion of the Authority's general expenses, | ||||||
25 | including,
but not limited to, administrative expenses, | ||||||
26 | salaries and general insurance,
and
(3) an amount sufficient to |
| |||||||
| |||||||
1 | pay when due all principal of, interest and
premium, if
any on, | ||||||
2 | any bonds issued by the Authority with respect to the project. | ||||||
3 | The
portion of total rentals payable under clause (3) of this | ||||||
4 | subsection (g) shall
be deposited in such special accounts, | ||||||
5 | including all sinking funds, acquisition
or construction | ||||||
6 | funds, debt service and other funds as provided by any
| ||||||
7 | resolution, mortgage or trust agreement of the Authority | ||||||
8 | pursuant to which any
bond is issued.
| ||||||
9 | (h) The Authority has the power, upon the termination of | ||||||
10 | any leasehold
period
of any project, to sell or lease for a | ||||||
11 | further term or terms such project on
such terms and conditions | ||||||
12 | as the Authority shall deem reasonable and consistent
with the | ||||||
13 | purposes of the Act. The net proceeds from all such sales and | ||||||
14 | the
revenues or income from such leases shall be used to | ||||||
15 | satisfy any indebtedness
of
the Authority with respect to such | ||||||
16 | project and any balance may be used to pay
any expenses of the | ||||||
17 | Authority or be used for the further development,
construction, | ||||||
18 | acquisition or improvement of projects.
In the event any | ||||||
19 | project is vacated by a tenant prior to the termination of the
| ||||||
20 | initial leasehold period, the Authority shall sell or lease the | ||||||
21 | facilities of
the project on the most advantageous terms | ||||||
22 | available. The net proceeds of any
such disposition shall be | ||||||
23 | treated in the same manner as the proceeds from sales
or the | ||||||
24 | revenues or income from leases subsequent to the termination of | ||||||
25 | any
initial leasehold period.
| ||||||
26 | (i) The Authority shall have the power to make loans, or to |
| |||||||
| |||||||
1 | purchase loan participations in loans made, to persons to | ||||||
2 | finance a
project, to enter into loan agreements or agreements | ||||||
3 | with participating lenders with respect thereto, and to accept
| ||||||
4 | guarantees from persons of its loans or the resultant evidences | ||||||
5 | of obligations
of the Authority.
| ||||||
6 | (j) The Authority may fix, determine, charge and collect | ||||||
7 | any premiums, fees,
charges, costs and expenses, including, | ||||||
8 | without limitation, any application
fees, commitment fees, | ||||||
9 | program fees, financing charges or publication fees from
any | ||||||
10 | person in connection with its activities under this Act.
| ||||||
11 | (k) In addition to the funds established as provided | ||||||
12 | herein, the Authority
shall have the power to create and | ||||||
13 | establish such reserve funds and accounts as
may be necessary | ||||||
14 | or desirable to accomplish its purposes under this Act and to
| ||||||
15 | deposit its available monies into the funds and accounts.
| ||||||
16 | (l) At the request of the governing body of any unit of | ||||||
17 | local government,
the
Authority is authorized to market such | ||||||
18 | local government's revenue bond
offerings by preparing bond | ||||||
19 | issues for sale, advertising for sealed bids,
receiving bids
at | ||||||
20 | its offices, making the award to the bidder that offers the | ||||||
21 | most favorable
terms or arranging for negotiated placements or | ||||||
22 | underwritings of such
securities. The Authority may, at its | ||||||
23 | discretion, offer for concurrent sale the
revenue bonds of | ||||||
24 | several local governments. Sales by the Authority of revenue
| ||||||
25 | bonds under this Section shall in no way imply State guarantee | ||||||
26 | of such debt
issue. The Authority may require such financial |
| |||||||
| |||||||
1 | information from participating
local governments as it deems | ||||||
2 | necessary in order to carry out the purposes of
this subsection | ||||||
3 | (1).
| ||||||
4 | (m) The Authority may make grants to any county to which | ||||||
5 | Division 5-37 of
the
Counties Code is applicable to assist in | ||||||
6 | the financing of capital development,
construction and | ||||||
7 | renovation of new or existing facilities for hospitals and
| ||||||
8 | health care facilities under that Act. Such grants may only be | ||||||
9 | made from funds
appropriated for such purposes from the Build | ||||||
10 | Illinois Bond Fund.
| ||||||
11 | (n) The Authority may establish an urban development action | ||||||
12 | grant program
for
the purpose of assisting municipalities in | ||||||
13 | Illinois which are experiencing
severe economic distress to | ||||||
14 | help stimulate economic development activities
needed to aid in | ||||||
15 | economic recovery. The Authority shall determine the types of
| ||||||
16 | activities and projects for which the urban development action | ||||||
17 | grants may be
used, provided that such projects and activities | ||||||
18 | are broadly defined to include
all reasonable projects and | ||||||
19 | activities the primary objectives of which are the
development | ||||||
20 | of viable urban communities, including decent housing and a
| ||||||
21 | suitable living environment, and expansion of economic | ||||||
22 | opportunity, principally
for
persons of low and moderate | ||||||
23 | incomes. The Authority shall enter into grant
agreements from | ||||||
24 | monies appropriated for such purposes from the Build Illinois
| ||||||
25 | Bond Fund. The Authority shall monitor the
use of the grants, | ||||||
26 | and shall provide for audits of the funds as well as
recovery |
| |||||||
| |||||||
1 | by the Authority of any funds determined to have been spent in
| ||||||
2 | violation of this
subsection (n) or any rule or regulation | ||||||
3 | promulgated hereunder. The Authority
shall provide technical | ||||||
4 | assistance with regard to the effective use of the
urban | ||||||
5 | development action grants. The Authority shall file an annual | ||||||
6 | report to
the
General Assembly concerning the progress of the | ||||||
7 | grant program.
| ||||||
8 | (o) The Authority may establish a Housing Partnership | ||||||
9 | Program whereby the
Authority provides zero-interest loans to | ||||||
10 | municipalities for the purpose of
assisting in the financing of | ||||||
11 | projects for the rehabilitation of affordable
multi-family | ||||||
12 | housing for low and moderate income residents. The Authority | ||||||
13 | may
provide such loans only upon a municipality's providing | ||||||
14 | evidence that it has
obtained private funding for the | ||||||
15 | rehabilitation project. The Authority shall
provide 3 State | ||||||
16 | dollars for every 7 dollars obtained by the municipality from
| ||||||
17 | sources other than the State of Illinois. The loans shall be | ||||||
18 | made from monies
appropriated for such purpose from the Build | ||||||
19 | Illinois Bond Fund. The total amount of loans available under | ||||||
20 | the Housing
Partnership Program shall not exceed $30,000,000. | ||||||
21 | State loan monies under this
subsection shall be used only for | ||||||
22 | the acquisition and rehabilitation of
existing
buildings | ||||||
23 | containing 4 or more dwelling units. The terms of any loan made | ||||||
24 | by
the municipality under this subsection shall require | ||||||
25 | repayment of the loan to
the municipality upon any sale or | ||||||
26 | other transfer of the project.
|
| |||||||
| |||||||
1 | (p) The Authority may award grants to universities and | ||||||
2 | research
institutions,
research consortiums and other | ||||||
3 | not-for-profit entities for the purposes of:
remodeling or | ||||||
4 | otherwise physically altering existing laboratory or research
| ||||||
5 | facilities, expansion or physical additions to existing | ||||||
6 | laboratory or research
facilities, construction of new | ||||||
7 | laboratory or research facilities or
acquisition of modern | ||||||
8 | equipment to support laboratory or research operations
| ||||||
9 | provided that
such grants (i) be used solely in support of | ||||||
10 | project and equipment acquisitions
which enhance technology | ||||||
11 | transfer, and (ii) not constitute more than 60 percent
of the | ||||||
12 | total project or acquisition cost.
| ||||||
13 | (q) Grants may be awarded by the Authority to units of | ||||||
14 | local government for
the
purpose of developing the appropriate | ||||||
15 | infrastructure or defraying other costs
to
the local government | ||||||
16 | in support of laboratory or research facilities provided
that | ||||||
17 | such grants may not exceed 40% of the cost to the unit of local
| ||||||
18 | government.
| ||||||
19 | (r) In addition to the powers granted to the Authority | ||||||
20 | under subsection (i), and in all cases supplemental to it, the | ||||||
21 | Authority may establish a direct loan program to make loans to, | ||||||
22 | or may purchase participations in loans made by participating | ||||||
23 | lenders to,
individuals, partnerships, corporations, or other | ||||||
24 | business entities for the purpose of financing an industrial
| ||||||
25 | project, as defined in
Section 801-10 of this Act. For the | ||||||
26 | purposes of such program
and not by way of limitation on any |
| |||||||
| |||||||
1 | other program of the Authority, including, without limitation, | ||||||
2 | programs established under subsection (i), the
Authority shall | ||||||
3 | have the power to issue bonds, notes, or other evidences of
| ||||||
4 | indebtedness including commercial paper for purposes of | ||||||
5 | providing a fund of
capital from which it may make such loans. | ||||||
6 | The Authority shall have the power
to use any appropriations | ||||||
7 | from the State made especially for the Authority's direct loan | ||||||
8 | program, or moneys at any time held by the Authority under this | ||||||
9 | Act outside the State treasury in the custody of either the | ||||||
10 | Treasurer of the Authority or a trustee or depository appointed | ||||||
11 | by the Authority,
for additional capital to make such loans or | ||||||
12 | purchase such loan participations, or for the
purposes of | ||||||
13 | reserve funds or pledged funds which secure the Authority's
| ||||||
14 | obligations of repayment of any bond, note or other form of | ||||||
15 | indebtedness
established for the purpose of providing capital | ||||||
16 | for which it intends to make
such loans or purchase such loan | ||||||
17 | participations. For the purpose of obtaining such
capital, the | ||||||
18 | Authority may also enter into agreements with financial
| ||||||
19 | institutions, participating lenders, and other persons for the | ||||||
20 | purpose of administering a loan participation program, selling | ||||||
21 | loans or developing
a secondary market for such loans or loan | ||||||
22 | participations.
Loans made under the direct loan program | ||||||
23 | specifically established under this subsection (r), including | ||||||
24 | loans under such program made by participating lenders in which | ||||||
25 | the Authority purchases a participation, may be in an amount | ||||||
26 | not to exceed $600,000
and shall be made for a portion of an |
| |||||||
| |||||||
1 | industrial project which does
not exceed 50% of the total | ||||||
2 | project. No loan may be made by the Authority
unless
approved | ||||||
3 | by the affirmative vote of at least 8 members of the board. The
| ||||||
4 | Authority shall establish procedures and publish rules which | ||||||
5 | shall provide for
the submission, review, and analysis of each | ||||||
6 | direct loan and loan participation application and which
shall | ||||||
7 | preserve the ability of each board member and the Executive | ||||||
8 | Director, as applicable, to reach an individual business
| ||||||
9 | judgment regarding the propriety of each direct loan or loan | ||||||
10 | participation. The collective
discretion of the board to | ||||||
11 | approve or disapprove each loan shall be
unencumbered.
The | ||||||
12 | Authority may establish and collect such fees and charges, | ||||||
13 | determine and
enforce such terms and conditions, and charge | ||||||
14 | such interest rates as it
determines to be necessary and | ||||||
15 | appropriate to the successful administration of
the direct loan | ||||||
16 | program, including purchasing loan participations. The | ||||||
17 | Authority may require such interests in collateral
and such | ||||||
18 | guarantees as it determines are necessary to protect the | ||||||
19 | Authority's
interest in the repayment of the principal and | ||||||
20 | interest of each loan and loan participation made under
the | ||||||
21 | direct loan program. The restrictions established under this | ||||||
22 | subsection (r) shall not be applicable to any loan or loan | ||||||
23 | participation made under subsection (i) or to any loan or loan | ||||||
24 | participation made under any other Section of this Act.
| ||||||
25 | (s) The Authority may guarantee private loans to third | ||||||
26 | parties up to a
specified dollar amount in order to promote |
| |||||||
| |||||||
1 | economic development in this State.
| ||||||
2 | (t) The Authority may adopt rules and regulations as may be | ||||||
3 | necessary or
advisable to implement the powers conferred by | ||||||
4 | this Act.
| ||||||
5 | (u) The Authority shall have the power to issue bonds, | ||||||
6 | notes or other
evidences
of indebtedness, which may be used to | ||||||
7 | make loans to units of local government
which are authorized to | ||||||
8 | enter into loan agreements and other documents and to
issue | ||||||
9 | bonds, notes and other evidences of indebtedness for the | ||||||
10 | purpose of
financing the protection of storm sewer outfalls, | ||||||
11 | the construction of adequate
storm sewer outfalls, and the | ||||||
12 | provision for flood protection of sanitary sewage
treatment | ||||||
13 | plans, in counties that have established a stormwater | ||||||
14 | management
planning committee in accordance with
Section | ||||||
15 | 5-1062 of the Counties Code. Any
such loan shall be made by the | ||||||
16 | Authority pursuant to the provisions of
Section
820-5 to 820-60 | ||||||
17 | of this Act. The unit of local government shall pay back to the
| ||||||
18 | Authority the principal amount of the loan, plus annual | ||||||
19 | interest as determined
by the Authority. The Authority shall | ||||||
20 | have the power, subject to appropriations
by the General | ||||||
21 | Assembly, to subsidize or buy down a portion of the interest on
| ||||||
22 | such loans, up to 4% per annum.
| ||||||
23 | (v) The Authority may accept security interests as provided | ||||||
24 | in
Sections 11-3
and 11-3.3 of the Illinois Public Aid Code.
| ||||||
25 | (w) Moral Obligation. In the event that the Authority | ||||||
26 | determines that monies
of the Authority will not be sufficient |
| |||||||
| |||||||
1 | for the payment of the principal of and
interest on its bonds | ||||||
2 | during the next State fiscal year, the Chairperson, as
soon as | ||||||
3 | practicable, shall certify to the Governor the amount required | ||||||
4 | by the
Authority to enable it to pay such principal of and | ||||||
5 | interest on the bonds. The
Governor shall submit the amount so | ||||||
6 | certified to the General Assembly as soon
as
practicable, but | ||||||
7 | no later than the end of the current State fiscal year. This
| ||||||
8 | subsection shall apply only to any bonds or notes as to which | ||||||
9 | the Authority
shall have determined, in the resolution | ||||||
10 | authorizing the issuance of the bonds
or notes, that this | ||||||
11 | subsection shall apply. Whenever the Authority makes such a
| ||||||
12 | determination, that fact shall be plainly stated on the face of | ||||||
13 | the bonds or
notes and that fact shall also be reported to the | ||||||
14 | Governor. In the event of a
withdrawal of moneys from a reserve | ||||||
15 | fund established with respect to any issue
or issues of bonds | ||||||
16 | of the Authority to pay principal or interest on those
bonds,
| ||||||
17 | the Chairperson of the Authority, as soon as practicable, shall | ||||||
18 | certify to the
Governor the amount required to restore the | ||||||
19 | reserve fund to the level required
in the resolution or | ||||||
20 | indenture securing those bonds. The Governor shall submit
the | ||||||
21 | amount so certified to the General Assembly as soon as | ||||||
22 | practicable, but no
later than the end of the current State | ||||||
23 | fiscal year. The Authority shall obtain
written approval from | ||||||
24 | the Governor for any bonds and notes to be issued under
this | ||||||
25 | Section.
In addition to any other bonds authorized to be issued | ||||||
26 | under
Sections 825-60, 825-65(e), 830-25 and 845-5, the |
| |||||||
| |||||||
1 | principal amount of Authority
bonds outstanding
issued under | ||||||
2 | this
Section 801-40(w) or under 20 ILCS 3850/1-80 or 30 ILCS | ||||||
3 | 360/2-6(c), which have
been
assumed by the Authority, shall not | ||||||
4 | exceed $150,000,000. This subsection (w) shall in no way be | ||||||
5 | applied to any bonds issued by the Authority on behalf of the | ||||||
6 | Illinois Power Agency under Section 825-90 of this Act.
| ||||||
7 | (x) The Authority may enter into agreements or contracts | ||||||
8 | with any person necessary or appropriate to place the payment | ||||||
9 | obligations of the Authority under any of its bonds in whole or | ||||||
10 | in part on any interest rate basis, cash flow basis, or other | ||||||
11 | basis desired by the Authority, including without limitation | ||||||
12 | agreements or contracts commonly known as "interest rate swap | ||||||
13 | agreements", "forward payment conversion agreements", and | ||||||
14 | "futures", or agreements or contracts to exchange cash flows or | ||||||
15 | a series of payments, or agreements or contracts, including | ||||||
16 | without limitation agreements or contracts commonly known as | ||||||
17 | "options", "puts", or "calls", to hedge payment, rate spread, | ||||||
18 | or similar exposure; provided that any such agreement or | ||||||
19 | contract shall not constitute an obligation for borrowed money | ||||||
20 | and shall not be taken into account under Section 845-5 of this | ||||||
21 | Act or any other debt limit of the Authority or the State of | ||||||
22 | Illinois.
| ||||||
23 | (y) The Authority shall publish summaries of projects and | ||||||
24 | actions approved by the members of the Authority on its | ||||||
25 | website. These summaries shall include, but not be limited to, | ||||||
26 | information regarding the: |
| |||||||
| |||||||
1 | (1) project; | ||||||
2 | (2) Board's action or actions; | ||||||
3 | (3) purpose of the project; | ||||||
4 | (4) Authority's program and contribution; | ||||||
5 | (5) volume cap; | ||||||
6 | (6) jobs retained; | ||||||
7 | (7) projected new jobs; | ||||||
8 | (8) construction jobs created; | ||||||
9 | (9) estimated sources and uses of funds; | ||||||
10 | (10) financing summary; | ||||||
11 | (11) project summary; | ||||||
12 | (12) business summary; | ||||||
13 | (13) ownership or economic disclosure statement; | ||||||
14 | (14) professional and financial information; | ||||||
15 | (15) service area; and | ||||||
16 | (16) legislative district. | ||||||
17 | The disclosure of information pursuant to this subsection | ||||||
18 | shall comply with the Freedom of Information Act. | ||||||
19 | (z) The Authority may establish a program for the | ||||||
20 | innovative delivery of public purpose projects on behalf of | ||||||
21 | units of local government and school districts. The purposes of | ||||||
22 | the program shall include delivering public purpose projects | ||||||
23 | for better value over the useful life of the asset, | ||||||
24 | accelerating the delivery of public purpose projects, and | ||||||
25 | reducing long-term risk to units of local government and school | ||||||
26 | districts. The Authority may enter into intergovernmental |
| |||||||
| |||||||
1 | agreements with units of local government and school districts | ||||||
2 | to undertake public purpose projects on behalf of those units | ||||||
3 | of local government or school districts. The Authority may | ||||||
4 | retain financial, technical, legal, and other professional | ||||||
5 | advisors in connection with the innovative delivery of public | ||||||
6 | purpose projects. The Authority may procure and enter into | ||||||
7 | development contracts with parties to deliver public purpose | ||||||
8 | projects, including some or all of the responsibility to | ||||||
9 | design, build, finance, operate, and maintain public purpose | ||||||
10 | projects for the term specified in the applicable development | ||||||
11 | contract. The Authority shall procure development contracts | ||||||
12 | through an open and competitive procurement conducted pursuant | ||||||
13 | to rules of the Authority and intended to achieve the purposes | ||||||
14 | of this program. In support of public purpose projects, the | ||||||
15 | Authority, units of local government, and school districts may | ||||||
16 | enter into, with each other and with other parties | ||||||
17 | participating in the public purpose projects, ground leases, | ||||||
18 | leases, and other contracts, agreements, and instruments, | ||||||
19 | including instruments to convey real property interests, and | ||||||
20 | may grant and enter into liens, encumbrances, pledges, | ||||||
21 | assignments, guarantees, and other security agreements and | ||||||
22 | instruments. The Authority may use its other powers under this | ||||||
23 | Act in support of public purpose projects undertaken pursuant | ||||||
24 | to this subsection. | ||||||
25 | (aa) The Authority may establish an infrastructure | ||||||
26 | revolving loan program for the purpose of financing and |
| |||||||
| |||||||
1 | assisting in the delivery of public purpose projects. The | ||||||
2 | Authority may establish a special account or fund into or from | ||||||
3 | which it shall deposit the proceeds of any appropriations from | ||||||
4 | the State and any grants from the federal government or the | ||||||
5 | State, or any agency or instrumentality thereof, or any other | ||||||
6 | source for the program; deposit the proceeds derived from the | ||||||
7 | sale of bonds or loans made to raise funds for the program; | ||||||
8 | make loans in support of public purpose projects; deposit the | ||||||
9 | proceeds received from repayment of loans; and pay expenses | ||||||
10 | associated with implementation of the program. In addition to | ||||||
11 | those other powers provided under this Act, the Authority has | ||||||
12 | the continuing power to sell and refund bonds and to borrow to | ||||||
13 | raise funds for the program and to issue bonds, notes, and | ||||||
14 | other evidences of such indebtedness. The Authority may pledge | ||||||
15 | the revenues and receipts of the special account or fund | ||||||
16 | established for the program and grant such other specific | ||||||
17 | pledge, assignment, lien, or security interest for the benefit | ||||||
18 | of the holders of such bonds, notes, or other indebtedness. The | ||||||
19 | Authority may enter into loan agreements by which it agrees to | ||||||
20 | loan program funds for public purpose projects on terms and | ||||||
21 | conditions determined by the Authority. The Authority may | ||||||
22 | establish and collect such fees and charges, determine and | ||||||
23 | enforce such terms and conditions, and charge such interest | ||||||
24 | rates as it determines to be necessary and appropriate to the | ||||||
25 | successful administration of the program. The moneys deposited | ||||||
26 | into the special account or fund established for the program |
| |||||||
| |||||||
1 | may be used only in support of the program for so long as the | ||||||
2 | program is established, subject to the applicable terms of any | ||||||
3 | appropriation from the State and any grant from or agreement | ||||||
4 | with the federal government or the State, or any agency or | ||||||
5 | instrumentality thereof, or any other source. The Authority may | ||||||
6 | use its other powers under this Act in support of public | ||||||
7 | purpose projects undertaken pursuant to this subsection. | ||||||
8 | (Source: P.A. 100-919, eff. 8-17-18.)
| ||||||
9 | Section 10. The Illinois Procurement Code is amended by | ||||||
10 | changing Section 1-10 as follows:
| ||||||
11 | (30 ILCS 500/1-10)
| ||||||
12 | Sec. 1-10. Application.
| ||||||
13 | (a) This Code applies only to procurements for which | ||||||
14 | bidders, offerors, potential contractors, or contractors were | ||||||
15 | first
solicited on or after July 1, 1998. This Code shall not | ||||||
16 | be construed to affect
or impair any contract, or any provision | ||||||
17 | of a contract, entered into based on a
solicitation prior to | ||||||
18 | the implementation date of this Code as described in
Article | ||||||
19 | 99, including but not limited to any covenant entered into with | ||||||
20 | respect
to any revenue bonds or similar instruments.
All | ||||||
21 | procurements for which contracts are solicited between the | ||||||
22 | effective date
of Articles 50 and 99 and July 1, 1998 shall be | ||||||
23 | substantially in accordance
with this Code and its intent.
| ||||||
24 | (b) This Code shall apply regardless of the source of the |
| |||||||
| |||||||
1 | funds with which
the contracts are paid, including federal | ||||||
2 | assistance moneys. This
Code shall
not apply to:
| ||||||
3 | (1) Contracts between the State and its political | ||||||
4 | subdivisions or other
governments, or between State | ||||||
5 | governmental bodies, except as specifically provided in | ||||||
6 | this Code.
| ||||||
7 | (2) Grants, except for the filing requirements of | ||||||
8 | Section 20-80.
| ||||||
9 | (3) Purchase of care, except as provided in Section | ||||||
10 | 5-30.6 of the Illinois Public Aid
Code and this Section.
| ||||||
11 | (4) Hiring of an individual as employee and not as an | ||||||
12 | independent
contractor, whether pursuant to an employment | ||||||
13 | code or policy or by contract
directly with that | ||||||
14 | individual.
| ||||||
15 | (5) Collective bargaining contracts.
| ||||||
16 | (6) Purchase of real estate, except that notice of this | ||||||
17 | type of contract with a value of more than $25,000 must be | ||||||
18 | published in the Procurement Bulletin within 10 calendar | ||||||
19 | days after the deed is recorded in the county of | ||||||
20 | jurisdiction. The notice shall identify the real estate | ||||||
21 | purchased, the names of all parties to the contract, the | ||||||
22 | value of the contract, and the effective date of the | ||||||
23 | contract.
| ||||||
24 | (7) Contracts necessary to prepare for anticipated | ||||||
25 | litigation, enforcement
actions, or investigations, | ||||||
26 | provided
that the chief legal counsel to the Governor shall |
| |||||||
| |||||||
1 | give his or her prior
approval when the procuring agency is | ||||||
2 | one subject to the jurisdiction of the
Governor, and | ||||||
3 | provided that the chief legal counsel of any other | ||||||
4 | procuring
entity
subject to this Code shall give his or her | ||||||
5 | prior approval when the procuring
entity is not one subject | ||||||
6 | to the jurisdiction of the Governor.
| ||||||
7 | (8) (Blank).
| ||||||
8 | (9) Procurement expenditures by the Illinois | ||||||
9 | Conservation Foundation
when only private funds are used.
| ||||||
10 | (10) (Blank). | ||||||
11 | (11) Public-private agreements entered into according | ||||||
12 | to the procurement requirements of Section 20 of the | ||||||
13 | Public-Private Partnerships for Transportation Act and | ||||||
14 | design-build agreements entered into according to the | ||||||
15 | procurement requirements of Section 25 of the | ||||||
16 | Public-Private Partnerships for Transportation Act. | ||||||
17 | (12) Contracts for legal, financial, and other | ||||||
18 | professional and artistic services entered into on or | ||||||
19 | before December 31, 2022 2018 by the Illinois Finance | ||||||
20 | Authority in which the State of Illinois is not obligated | ||||||
21 | and agreements and contracts authorized by subsection (z) | ||||||
22 | of Section 801-40 of the Illinois Finance Authority Act | ||||||
23 | entered into on or before December 31, 2022 by the Illinois | ||||||
24 | Finance Authority in which the State is not obligated . Such | ||||||
25 | contracts shall be awarded through a competitive process | ||||||
26 | authorized by the Board of the Illinois Finance Authority |
| |||||||
| |||||||
1 | and are subject to Sections 5-30, 20-160, 50-13, 50-20, | ||||||
2 | 50-35, and 50-37 of this Code, as well as the final | ||||||
3 | approval by the Board of the Illinois Finance Authority of | ||||||
4 | the terms of the contract. | ||||||
5 | (13) Contracts for services, commodities, and | ||||||
6 | equipment to support the delivery of timely forensic | ||||||
7 | science services in consultation with and subject to the | ||||||
8 | approval of the Chief Procurement Officer as provided in | ||||||
9 | subsection (d) of Section 5-4-3a of the Unified Code of | ||||||
10 | Corrections, except for the requirements of Sections | ||||||
11 | 20-60, 20-65, 20-70, and 20-160 and Article 50 of this | ||||||
12 | Code; however, the Chief Procurement Officer may, in | ||||||
13 | writing with justification, waive any certification | ||||||
14 | required under Article 50 of this Code. For any contracts | ||||||
15 | for services which are currently provided by members of a | ||||||
16 | collective bargaining agreement, the applicable terms of | ||||||
17 | the collective bargaining agreement concerning | ||||||
18 | subcontracting shall be followed. | ||||||
19 | On and after January 1, 2019, this paragraph (13), | ||||||
20 | except for this sentence, is inoperative. | ||||||
21 | (14) Contracts for participation expenditures required | ||||||
22 | by a domestic or international trade show or exhibition of | ||||||
23 | an exhibitor, member, or sponsor. | ||||||
24 | (15) Contracts with a railroad or utility that requires | ||||||
25 | the State to reimburse the railroad or utilities for the | ||||||
26 | relocation of utilities for construction or other public |
| |||||||
| |||||||
1 | purpose. Contracts included within this paragraph (15) | ||||||
2 | shall include, but not be limited to, those associated | ||||||
3 | with: relocations, crossings, installations, and | ||||||
4 | maintenance. For the purposes of this paragraph (15), | ||||||
5 | "railroad" means any form of non-highway ground | ||||||
6 | transportation that runs on rails or electromagnetic | ||||||
7 | guideways and "utility" means: (1) public utilities as | ||||||
8 | defined in Section 3-105 of the Public Utilities Act, (2) | ||||||
9 | telecommunications carriers as defined in Section 13-202 | ||||||
10 | of the Public Utilities Act, (3) electric cooperatives as | ||||||
11 | defined in Section 3.4 of the Electric Supplier Act, (4) | ||||||
12 | telephone or telecommunications cooperatives as defined in | ||||||
13 | Section 13-212 of the Public Utilities Act, (5) rural water | ||||||
14 | or waste water systems with 10,000 connections or less, (6) | ||||||
15 | a holder as defined in Section 21-201 of the Public | ||||||
16 | Utilities Act, and (7) municipalities owning or operating | ||||||
17 | utility systems consisting of public utilities as that term | ||||||
18 | is defined in Section 11-117-2 of the Illinois Municipal | ||||||
19 | Code. | ||||||
20 | (16) Procurement expenditures necessary for the | ||||||
21 | Department of Public Health to provide the delivery of | ||||||
22 | timely newborn screening services in accordance with the | ||||||
23 | Newborn Metabolic Screening Act. | ||||||
24 | (17) (16) Procurement expenditures necessary for the | ||||||
25 | Department of Agriculture, the Department of Financial and | ||||||
26 | Professional Regulation, the Department of Human Services, |
| |||||||
| |||||||
1 | and the Department of Public Health to implement the | ||||||
2 | Compassionate Use of Medical Cannabis Pilot Program and | ||||||
3 | Opioid Alternative Pilot Program requirements and ensure | ||||||
4 | access to medical cannabis for patients with debilitating | ||||||
5 | medical conditions in accordance with the Compassionate | ||||||
6 | Use of Medical Cannabis Pilot Program Act. | ||||||
7 | Notwithstanding any other provision of law, for contracts | ||||||
8 | entered into on or after October 1, 2017 under an exemption | ||||||
9 | provided in any paragraph of this subsection (b), except | ||||||
10 | paragraph (1), (2), or (5), each State agency shall post to the | ||||||
11 | appropriate procurement bulletin the name of the contractor, a | ||||||
12 | description of the supply or service provided, the total amount | ||||||
13 | of the contract, the term of the contract, and the exception to | ||||||
14 | the Code utilized. The chief procurement officer shall submit a | ||||||
15 | report to the Governor and General Assembly no later than | ||||||
16 | November 1 of each year that shall include, at a minimum, an | ||||||
17 | annual summary of the monthly information reported to the chief | ||||||
18 | procurement officer. | ||||||
19 | (c) This Code does not apply to the electric power | ||||||
20 | procurement process provided for under Section 1-75 of the | ||||||
21 | Illinois Power Agency Act and Section 16-111.5 of the Public | ||||||
22 | Utilities Act. | ||||||
23 | (d) Except for Section 20-160 and Article 50 of this Code, | ||||||
24 | and as expressly required by Section 9.1 of the Illinois | ||||||
25 | Lottery Law, the provisions of this Code do not apply to the | ||||||
26 | procurement process provided for under Section 9.1 of the |
| |||||||
| |||||||
1 | Illinois Lottery Law. | ||||||
2 | (e) This Code does not apply to the process used by the | ||||||
3 | Capital Development Board to retain a person or entity to | ||||||
4 | assist the Capital Development Board with its duties related to | ||||||
5 | the determination of costs of a clean coal SNG brownfield | ||||||
6 | facility, as defined by Section 1-10 of the Illinois Power | ||||||
7 | Agency Act, as required in subsection (h-3) of Section 9-220 of | ||||||
8 | the Public Utilities Act, including calculating the range of | ||||||
9 | capital costs, the range of operating and maintenance costs, or | ||||||
10 | the sequestration costs or monitoring the construction of clean | ||||||
11 | coal SNG brownfield facility for the full duration of | ||||||
12 | construction. | ||||||
13 | (f) (Blank). | ||||||
14 | (g) (Blank). | ||||||
15 | (h) This Code does not apply to the process to procure or | ||||||
16 | contracts entered into in accordance with Sections 11-5.2 and | ||||||
17 | 11-5.3 of the Illinois Public Aid Code. | ||||||
18 | (i) Each chief procurement officer may access records | ||||||
19 | necessary to review whether a contract, purchase, or other | ||||||
20 | expenditure is or is not subject to the provisions of this | ||||||
21 | Code, unless such records would be subject to attorney-client | ||||||
22 | privilege. | ||||||
23 | (j) This Code does not apply to the process used by the | ||||||
24 | Capital Development Board to retain an artist or work or works | ||||||
25 | of art as required in Section 14 of the Capital Development | ||||||
26 | Board Act. |
| |||||||
| |||||||
1 | (k) This Code does not apply to the process to procure | ||||||
2 | contracts, or contracts entered into, by the State Board of | ||||||
3 | Elections or the State Electoral Board for hearing officers | ||||||
4 | appointed pursuant to the Election Code. | ||||||
5 | (l) This Code does not apply to the processes used by the | ||||||
6 | Illinois Student Assistance Commission to procure supplies and | ||||||
7 | services paid for from the private funds of the Illinois | ||||||
8 | Prepaid Tuition Fund. As used in this subsection (l), "private | ||||||
9 | funds" means funds derived from deposits paid into the Illinois | ||||||
10 | Prepaid Tuition Trust Fund and the earnings thereon. | ||||||
11 | (Source: P.A. 99-801, eff. 1-1-17; 100-43, eff. 8-9-17; | ||||||
12 | 100-580, eff. 3-12-18; 100-757, eff. 8-10-18; 100-1114, eff. | ||||||
13 | 8-28-18; revised 10-18-18.)
| ||||||
14 | (30 ILCS 750/9-11 rep.)
| ||||||
15 | Section 15. The Build Illinois Act is amended by repealing | ||||||
16 | Section 9-11. | ||||||
17 | Section 20. The Illinois Income Tax Act is amended by | ||||||
18 | adding Section 229 as follows: | ||||||
19 | (35 ILCS 5/229 new) | ||||||
20 | Sec. 229. Railroad track maintenance credit. | ||||||
21 | (a) For tax years ending on or after December 31, 2019, a | ||||||
22 | taxpayer who is an eligible taxpayer under Section 45G of the | ||||||
23 | Internal Revenue Code is entitled to a credit against the taxes |
| |||||||
| |||||||
1 | imposed under subsections (a) and (b) of Section 201 of this | ||||||
2 | Act in an amount equal to 50% of the qualified railroad track | ||||||
3 | maintenance expenditures. For purposes of this Section, | ||||||
4 | "qualified railroad track maintenance expenditures" means | ||||||
5 | qualifying expenditures defined for the federal railroad track | ||||||
6 | maintenance credit that would be allowable under section 45G of | ||||||
7 | the Internal Revenue Code and are conducted in this State. | ||||||
8 | (b) If the taxpayer is a partnership or Subchapter S | ||||||
9 | corporation, the credit is allowed to the partners or | ||||||
10 | shareholders in accordance with the determination of income and | ||||||
11 | distributive share of income under Sections 702 and 704 and | ||||||
12 | Subchapter S of the Internal Revenue Code. A transfer of this | ||||||
13 | credit may be made by the taxpayer earning the credit within | ||||||
14 | one year after the credit is earned in accordance with rules | ||||||
15 | adopted by the Department. The Department shall prescribe rules | ||||||
16 | to enforce and administer provisions of this Section. If the | ||||||
17 | amount of the credit exceeds the tax liability for the year, | ||||||
18 | then the excess credit may be carried forward and applied to | ||||||
19 | the tax liability of the 5 taxable years following the excess | ||||||
20 | credit year. The credit shall be applied to the earliest year | ||||||
21 | for which there is a tax liability. If there are credits from | ||||||
22 | more than one tax year that are available to offset a | ||||||
23 | liability, the earlier credit shall be applied first. In no | ||||||
24 | event shall a credit under this Section reduce the taxpayer's | ||||||
25 | liability to less than zero. |
| |||||||
| |||||||
1 | Section 25. The Property Tax Code is amended by adding | ||||||
2 | Section 15-57 as follows: | ||||||
3 | (35 ILCS 200/15-57 new) | ||||||
4 | Sec. 15-57. Public purpose project property. | ||||||
5 | Notwithstanding anything to the contrary in this Code, all | ||||||
6 | property owned or leased by the Illinois Finance Authority, a | ||||||
7 | unit of local government, or a school district and that is used | ||||||
8 | and leased, pursuant to subsection (z) of Section 801-40 of the | ||||||
9 | Illinois Finance Authority Act, for a public purpose project to | ||||||
10 | another party whose property is not exempt shall remain exempt, | ||||||
11 | and any leasehold interest in the property shall not be subject | ||||||
12 | to taxation under Section 9-195 of this Code. | ||||||
13 | Section 30. The Metropolitan Transit Authority Act is | ||||||
14 | amended by changing Section 52 as follows: | ||||||
15 | (70 ILCS 3605/52) | ||||||
16 | Sec. 52. Transit services for individuals with | ||||||
17 | disabilities. Notwithstanding any law to the contrary, no later | ||||||
18 | than 60 days following the effective date of this amendatory | ||||||
19 | Act of the 95th General Assembly, all fixed route public | ||||||
20 | transportation services provided by, or under grant or purchase | ||||||
21 | of service contract of, the Board may be offered, at the | ||||||
22 | discretion of the Board, shall be provided without charge to | ||||||
23 | all persons with disabilities who meet the income eligibility |
| |||||||
| |||||||
1 | limitation set forth in subsection (a-5) of Section 4 of the | ||||||
2 | Senior Citizens and Persons with Disabilities Property Tax | ||||||
3 | Relief Act, under such procedures as shall be prescribed by the | ||||||
4 | Board. The Department on Aging shall furnish all information | ||||||
5 | reasonably necessary to determine eligibility, including | ||||||
6 | updated lists of individuals who are eligible for services | ||||||
7 | without charge under this Section.
| ||||||
8 | (Source: P.A. 99-143, eff. 7-27-15.) | ||||||
9 | Section 35. The Regional Transportation Authority Act is | ||||||
10 | amended by changing Sections 3A.16, 3B.15, and 4.04 as follows: | ||||||
11 | (70 ILCS 3615/3A.16) | ||||||
12 | Sec. 3A.16. Transit services for individuals with | ||||||
13 | disabilities. Notwithstanding any law to the contrary, no later | ||||||
14 | than 60 days following the effective date of this amendatory | ||||||
15 | Act of the 95th General Assembly, all fixed route public | ||||||
16 | transportation services provided by, or under grant or purchase | ||||||
17 | of service contract of, the Suburban Bus Board may shall be | ||||||
18 | offered, at the discretion of the Board, provided without | ||||||
19 | charge to all persons with disabilities who meet the income | ||||||
20 | eligibility limitation set forth in subsection (a-5) of Section | ||||||
21 | 4 of the Senior Citizens and Persons with Disabilities Property | ||||||
22 | Tax Relief Act, under such procedures as shall be prescribed by | ||||||
23 | the Board. The Department on Aging shall furnish all | ||||||
24 | information reasonably necessary to determine eligibility, |
| |||||||
| |||||||
1 | including updated lists of individuals who are eligible for | ||||||
2 | services without charge under this Section.
| ||||||
3 | (Source: P.A. 99-143, eff. 7-27-15.) | ||||||
4 | (70 ILCS 3615/3B.15) | ||||||
5 | Sec. 3B.15. Transit services for individuals with | ||||||
6 | disabilities. Notwithstanding any law to the contrary, no later | ||||||
7 | than 60 days following the effective date of this amendatory | ||||||
8 | Act of the 95th General Assembly, all fixed route public | ||||||
9 | transportation services provided by, or under grant or purchase | ||||||
10 | of service contract of, the Commuter Rail Board may shall be | ||||||
11 | offered, at the discretion of the Board, provided without | ||||||
12 | charge to all persons with disabilities who meet the income | ||||||
13 | eligibility limitation set forth in subsection (a-5) of Section | ||||||
14 | 4 of the Senior Citizens and Persons with Disabilities Property | ||||||
15 | Tax Relief Act, under such procedures as shall be prescribed by | ||||||
16 | the Board. The Department on Aging shall furnish all | ||||||
17 | information reasonably necessary to determine eligibility, | ||||||
18 | including updated lists of individuals who are eligible for | ||||||
19 | services without charge under this Section.
| ||||||
20 | (Source: P.A. 99-143, eff. 7-27-15.) | ||||||
21 | (70 ILCS 3615/4.04) (from Ch. 111 2/3, par. 704.04) | ||||||
22 | Sec. 4.04. Issuance and Pledge of Bonds and Notes. | ||||||
23 | (a) The Authority shall have the continuing power to borrow | ||||||
24 | money and to
issue its negotiable bonds or notes as provided in |
| |||||||
| |||||||
1 | this Section. Unless
otherwise indicated in this Section, the | ||||||
2 | term "notes" also includes bond
anticipation notes, which are | ||||||
3 | notes which by their terms provide for
their payment from the | ||||||
4 | proceeds of bonds thereafter to be issued. Bonds
or notes of | ||||||
5 | the Authority may be issued for any or all of the following
| ||||||
6 | purposes: to pay costs to the Authority or a Service Board of | ||||||
7 | constructing
or acquiring any public transportation facilities | ||||||
8 | (including funds and
rights relating thereto, as provided in | ||||||
9 | Section 2.05 of this Act); to repay
advances to the Authority | ||||||
10 | or a Service Board made for such purposes; to pay
other | ||||||
11 | expenses of the Authority or a Service Board incident to or | ||||||
12 | incurred
in connection with such construction or acquisition; | ||||||
13 | to provide funds for
any transportation agency to pay principal
| ||||||
14 | of or interest or redemption premium on any bonds or notes, | ||||||
15 | whether
as such amounts become due or by earlier redemption, | ||||||
16 | issued prior to the
date of this amendatory Act by such | ||||||
17 | transportation agency to construct or
acquire public | ||||||
18 | transportation facilities or to provide funds to purchase
such | ||||||
19 | bonds or notes; and to provide funds for any transportation | ||||||
20 | agency to
construct or acquire any public transportation | ||||||
21 | facilities, to repay
advances made for such purposes, and to | ||||||
22 | pay other expenses incident to
or incurred in connection with | ||||||
23 | such construction or acquisition; and to
provide funds for | ||||||
24 | payment of obligations, including the funding of reserves,
| ||||||
25 | under any self-insurance plan or joint self-insurance pool or | ||||||
26 | entity. |
| |||||||
| |||||||
1 | In addition to any other borrowing as may be authorized by | ||||||
2 | this Section,
the Authority may issue its notes, from time to | ||||||
3 | time, in anticipation of
tax receipts of the Authority or of | ||||||
4 | other
revenues or receipts of the Authority, in order to | ||||||
5 | provide money for the
Authority or the Service Boards to cover | ||||||
6 | any cash flow deficit which
the Authority or a Service Board | ||||||
7 | anticipates incurring. Any such notes
are referred to in this | ||||||
8 | Section as "Working Cash Notes". No Working
Cash Notes shall be | ||||||
9 | issued for a term of longer than 24
months.
Proceeds of Working | ||||||
10 | Cash Notes may be used to pay day to day operating
expenses of | ||||||
11 | the Authority or the Service Boards, consisting of wages,
| ||||||
12 | salaries and fringe benefits, professional and technical | ||||||
13 | services
(including legal, audit, engineering and other | ||||||
14 | consulting services), office
rental, furniture, fixtures and | ||||||
15 | equipment, insurance premiums, claims for
self-insured amounts | ||||||
16 | under insurance policies, public utility
obligations for | ||||||
17 | telephone, light, heat and similar items, travel expenses,
| ||||||
18 | office supplies, postage, dues, subscriptions, public hearings | ||||||
19 | and information
expenses, fuel purchases, and payments of | ||||||
20 | grants and payments under purchase
of service agreements for | ||||||
21 | operations of transportation agencies, prior to
the receipt by | ||||||
22 | the Authority or a Service Board from time to time of
funds for | ||||||
23 | paying such expenses. In addition to any Working Cash Notes
| ||||||
24 | that the Board of the Authority may determine to issue, the | ||||||
25 | Suburban Bus
Board, the Commuter Rail Board or the Board of the | ||||||
26 | Chicago Transit Authority
may demand and direct that the |
| |||||||
| |||||||
1 | Authority issue its Working Cash Notes in
such amounts and | ||||||
2 | having such maturities as the Service Board may determine. | ||||||
3 | Notwithstanding any other provision of this Act, any | ||||||
4 | amounts necessary to
pay principal of and interest on any
| ||||||
5 | Working Cash Notes issued at the demand
and direction of a | ||||||
6 | Service Board or any Working Cash Notes the proceeds of
which | ||||||
7 | were used for the direct benefit of a Service Board or any | ||||||
8 | other
Bonds or Notes of the Authority the proceeds of which | ||||||
9 | were used for the
direct benefit of a Service Board shall | ||||||
10 | constitute a reduction of the amount
of any other funds | ||||||
11 | provided by the Authority to that Service
Board. The Authority | ||||||
12 | shall, after deducting any costs of issuance, tender
the net | ||||||
13 | proceeds of any Working Cash Notes issued at the demand and
| ||||||
14 | direction of a Service Board to such Service Board as soon as | ||||||
15 | may be
practicable after the proceeds are received. The | ||||||
16 | Authority may also issue
notes or bonds to pay, refund or | ||||||
17 | redeem any of its notes and bonds,
including to pay redemption | ||||||
18 | premiums or accrued interest on such bonds or
notes being | ||||||
19 | renewed, paid or refunded, and other costs in connection
| ||||||
20 | therewith. The Authority may also utilize the proceeds of any | ||||||
21 | such bonds or
notes to pay the legal, financial, administrative | ||||||
22 | and other expenses of
such authorization, issuance, sale or | ||||||
23 | delivery of bonds or notes or to
provide or increase a debt | ||||||
24 | service reserve fund with respect to any or all
of its bonds or | ||||||
25 | notes. The Authority may also issue and deliver
its bonds or | ||||||
26 | notes in exchange for any public transportation facilities,
|
| |||||||
| |||||||
1 | (including funds and rights relating thereto, as provided in | ||||||
2 | Section
2.05 of this Act) or in exchange for outstanding bonds | ||||||
3 | or notes of the
Authority, including any accrued interest or | ||||||
4 | redemption premium thereon,
without advertising or submitting | ||||||
5 | such notes or bonds for public bidding. | ||||||
6 | (b) The ordinance providing for the issuance of any such | ||||||
7 | bonds or
notes shall fix the date or dates of maturity, the | ||||||
8 | dates on which
interest is payable, any sinking fund account or | ||||||
9 | reserve fund account
provisions and all other details of such | ||||||
10 | bonds or notes and may provide
for such covenants or agreements | ||||||
11 | necessary or desirable with regard to
the issue, sale and | ||||||
12 | security of such bonds or notes. The rate or rates of
interest | ||||||
13 | on its bonds or notes may be fixed or variable and the | ||||||
14 | Authority
shall determine or provide for the determination of | ||||||
15 | the rate or
rates of interest of its bonds or notes
issued | ||||||
16 | under this Act in an ordinance adopted by the Authority prior | ||||||
17 | to
the issuance thereof, none of which rates of interest shall | ||||||
18 | exceed
that permitted in the Bond Authorization Act. Interest | ||||||
19 | may be payable at such times as are provided for
by the Board. | ||||||
20 | Bonds and notes issued under this Section may
be issued as | ||||||
21 | serial or term obligations, shall be of such denomination
or | ||||||
22 | denominations and form, including interest coupons to be | ||||||
23 | attached
thereto, be executed in such manner, shall be payable | ||||||
24 | at such place or
places and bear such date as the Authority | ||||||
25 | shall fix by the ordinance
authorizing such bond or note and | ||||||
26 | shall mature at such time or times,
within a period not to |
| |||||||
| |||||||
1 | exceed forty years from the date of issue, and
may be | ||||||
2 | redeemable prior to maturity with or without premium, at the
| ||||||
3 | option of the Authority, upon such terms and conditions as the | ||||||
4 | Authority
shall fix by the ordinance authorizing the issuance | ||||||
5 | of such bonds or
notes. No bond anticipation note or any | ||||||
6 | renewal thereof shall mature at
any time or times exceeding 5 | ||||||
7 | years from the date of the first issuance
of such note. The | ||||||
8 | Authority may provide for the registration of bonds or
notes in | ||||||
9 | the name of the owner as to the principal alone or as to both
| ||||||
10 | principal and interest, upon such terms and conditions as the | ||||||
11 | Authority
may determine. The ordinance authorizing bonds or | ||||||
12 | notes may provide for
the exchange of such bonds or notes which | ||||||
13 | are fully registered, as to
both principal and interest, with | ||||||
14 | bonds or notes which are registerable
as to principal only. All | ||||||
15 | bonds or notes issued under this Section by
the Authority other | ||||||
16 | than those issued in exchange for property or for
bonds or | ||||||
17 | notes of the Authority shall be sold at a price which may be at
| ||||||
18 | a premium or discount but such that the interest cost | ||||||
19 | (excluding any
redemption premium) to the Authority of the | ||||||
20 | proceeds of an issue of such
bonds or notes, computed to stated | ||||||
21 | maturity according to standard tables
of bond values, shall not | ||||||
22 | exceed that permitted in the Bond Authorization
Act. The | ||||||
23 | Authority shall notify
the
Governor's Office of Management and | ||||||
24 | Budget and the State Comptroller at least 30 days
before any | ||||||
25 | bond sale and shall file with the
Governor's Office of | ||||||
26 | Management and Budget and the
State Comptroller a certified |
| |||||||
| |||||||
1 | copy of any ordinance authorizing the issuance
of bonds at or | ||||||
2 | before the issuance of the bonds.
After December 31, 1994, any | ||||||
3 | such bonds or notes shall be sold
to the highest and best | ||||||
4 | bidder on sealed bids as the Authority shall deem.
As such | ||||||
5 | bonds or notes are to be sold the Authority shall advertise for
| ||||||
6 | proposals to purchase the bonds or notes which advertisement | ||||||
7 | shall be published
at least once in a daily newspaper of | ||||||
8 | general circulation published in the
metropolitan region at | ||||||
9 | least 10 days before the time set for the submission
of bids. | ||||||
10 | The Authority shall have the right to reject any or all bids.
| ||||||
11 | Notwithstanding any other provisions of this Section, Working | ||||||
12 | Cash Notes or
bonds or notes to provide funds for | ||||||
13 | self-insurance or a joint self-insurance
pool or entity may be | ||||||
14 | sold either upon competitive bidding or by negotiated
sale
| ||||||
15 | (without any requirement of publication of intention to | ||||||
16 | negotiate the sale
of such Notes), as the Board shall determine | ||||||
17 | by ordinance adopted with the
affirmative votes of at least 9
| ||||||
18 | Directors. In case any officer whose signature
appears on any | ||||||
19 | bonds, notes or coupons authorized pursuant to this
Section | ||||||
20 | shall cease to be such officer before delivery of such bonds or
| ||||||
21 | notes, such signature shall nevertheless be valid and | ||||||
22 | sufficient for all
purposes, the same as if such officer had | ||||||
23 | remained in office until such
delivery. Neither the Directors | ||||||
24 | of the Authority nor any person
executing any bonds or notes | ||||||
25 | thereof shall be liable personally on any
such bonds or notes | ||||||
26 | or coupons by reason of the issuance thereof. |
| |||||||
| |||||||
1 | (c) All bonds or notes of the Authority issued pursuant to | ||||||
2 | this Section
shall be general obligations
of the Authority to | ||||||
3 | which shall be pledged the full faith and credit of the
| ||||||
4 | Authority, as provided in this Section. Such bonds or notes
| ||||||
5 | shall be secured
as provided in the authorizing ordinance, | ||||||
6 | which may, notwithstanding any other
provision of this Act, | ||||||
7 | include in addition to any other security, a specific
pledge or | ||||||
8 | assignment of and lien on or security interest in any or all | ||||||
9 | tax
receipts of the Authority and on any or all other revenues | ||||||
10 | or moneys of the
Authority from whatever source, which may by | ||||||
11 | law be utilized for debt
service purposes and a specific pledge | ||||||
12 | or assignment of and lien on or security
interest in any funds | ||||||
13 | or accounts established or provided for by the ordinance
of the | ||||||
14 | Authority authorizing the issuance of such bonds or notes. Any | ||||||
15 | such
pledge, assignment, lien or security interest for the | ||||||
16 | benefit of holders of
bonds or notes of the Authority shall be | ||||||
17 | valid and binding from the time the
bonds or notes are issued | ||||||
18 | without any physical delivery or further act
and shall be valid | ||||||
19 | and binding as against and prior to the claims of all
other | ||||||
20 | parties having claims of any kind against the Authority or any | ||||||
21 | other
person irrespective of whether such other parties have | ||||||
22 | notice of such pledge,
assignment, lien or security interest. | ||||||
23 | The obligations of the Authority
incurred pursuant to this | ||||||
24 | Section shall be superior to and have priority over
any other | ||||||
25 | obligations of the Authority. | ||||||
26 | The Authority may provide in the
ordinance authorizing the |
| |||||||
| |||||||
1 | issuance of any bonds or notes issued pursuant to
this Section | ||||||
2 | for the creation of, deposits in, and regulation and | ||||||
3 | disposition
of sinking fund or reserve accounts relating to | ||||||
4 | such bonds or notes. The
ordinance authorizing the issuance of | ||||||
5 | any bonds or notes pursuant to this
Section may contain | ||||||
6 | provisions as part of the contract with the holders
of the | ||||||
7 | bonds or notes, for the creation of a separate fund to provide
| ||||||
8 | for the payment of principal and interest on such bonds or | ||||||
9 | notes
and for the deposit in such fund from any or all the tax | ||||||
10 | receipts of the
Authority and from any or all such other moneys | ||||||
11 | or revenues of the
Authority from whatever source which may by | ||||||
12 | law be utilized for debt
service purposes, all as provided in | ||||||
13 | such ordinance, of amounts to meet
the debt service | ||||||
14 | requirements on such bonds or notes, including
principal and | ||||||
15 | interest, and any sinking fund or reserve fund account
| ||||||
16 | requirements as may be provided by such ordinance, and all | ||||||
17 | expenses
incident to or in connection with such fund and | ||||||
18 | accounts or the payment
of such bonds or notes.
Such ordinance | ||||||
19 | may also provide limitations on the issuance of additional
| ||||||
20 | bonds or notes of the Authority. No such bonds or notes of the | ||||||
21 | Authority
shall constitute a debt of the State of Illinois. | ||||||
22 | Nothing in this Act shall
be construed to enable the Authority | ||||||
23 | to impose any ad valorem tax on property. | ||||||
24 | (d) The ordinance of the Authority authorizing the issuance | ||||||
25 | of any bonds
or notes may provide additional security for such | ||||||
26 | bonds or notes by providing
for appointment of a corporate |
| |||||||
| |||||||
1 | trustee (which may be any trust company or
bank having the | ||||||
2 | powers of a trust company within the state) with respect
to | ||||||
3 | such bonds or notes. The ordinance shall prescribe the rights, | ||||||
4 | duties
and powers of the trustee to be exercised for the | ||||||
5 | benefit of the Authority
and the protection of the holders of | ||||||
6 | such bonds or notes. The ordinance
may provide for the trustee | ||||||
7 | to hold in trust, invest and use amounts in
funds and accounts | ||||||
8 | created as provided by the ordinance with respect to
the bonds | ||||||
9 | or notes. The ordinance may provide for the assignment and | ||||||
10 | direct
payment to the trustee of any or all amounts produced | ||||||
11 | from the sources
provided in Section 4.03 and Section 4.09 of | ||||||
12 | this Act and provided in Section 6z-17 of "An Act
in relation | ||||||
13 | to State finance", approved June 10, 1919, as amended.
Upon | ||||||
14 | receipt of notice of any such assignment, the Department of | ||||||
15 | Revenue and
the Comptroller of the State of Illinois shall | ||||||
16 | thereafter, notwithstanding the
provisions of Section 4.03 and | ||||||
17 | Section 4.09 of this Act and Section 6z-17 of "An Act in | ||||||
18 | relation
to State finance", approved June 10, 1919, as amended, | ||||||
19 | provide for such
assigned amounts to be paid directly to the | ||||||
20 | trustee instead of the Authority,
all in accordance with the | ||||||
21 | terms of the ordinance making the assignment. The
ordinance | ||||||
22 | shall provide that
amounts so paid to the trustee which are not | ||||||
23 | required to be deposited, held
or invested in funds and | ||||||
24 | accounts created by the ordinance with respect
to bonds or | ||||||
25 | notes or used for paying bonds or notes to be paid by the | ||||||
26 | trustee
to the Authority. |
| |||||||
| |||||||
1 | (e) Any bonds or notes of the Authority issued pursuant to | ||||||
2 | this
Section shall constitute a contract between the Authority | ||||||
3 | and the
holders from time to time of such bonds or notes. In | ||||||
4 | issuing any bond or
note, the Authority may include in the | ||||||
5 | ordinance authorizing such issue
a covenant as part of the | ||||||
6 | contract with the holders of the bonds or
notes, that as long | ||||||
7 | as such obligations are outstanding, it shall make
such | ||||||
8 | deposits, as provided in paragraph (c) of this Section. It may | ||||||
9 | also
so covenant that it shall impose and continue to impose | ||||||
10 | taxes, as
provided in Section 4.03 of this Act and in addition | ||||||
11 | thereto as
subsequently authorized by law, sufficient to make | ||||||
12 | such deposits and pay
the principal and interest and to meet | ||||||
13 | other debt service requirements
of such bonds or notes as they | ||||||
14 | become due. A certified copy of the
ordinance authorizing the | ||||||
15 | issuance of any such obligations shall be
filed at or prior to | ||||||
16 | the issuance of such obligations with the Comptroller
of the | ||||||
17 | State of Illinois and the Illinois Department of Revenue. | ||||||
18 | (f) The State of Illinois pledges to and agrees with the | ||||||
19 | holders of
the bonds and notes of the Authority issued pursuant | ||||||
20 | to this Section
that the State will not limit or alter the | ||||||
21 | rights and powers vested in
the Authority by this Act so as to | ||||||
22 | impair the terms of any contract made
by the Authority with | ||||||
23 | such holders or in any way impair the rights and
remedies of | ||||||
24 | such holders until such bonds and notes, together with
interest | ||||||
25 | thereon, with interest on any unpaid installments of interest,
| ||||||
26 | and all costs and expenses in connection with any action or |
| |||||||
| |||||||
1 | proceedings
by or on behalf of such holders, are fully met and | ||||||
2 | discharged. In
addition, the State pledges to and agrees with | ||||||
3 | the holders of the bonds
and notes of the Authority issued | ||||||
4 | pursuant to this Section that the
State will not limit or alter | ||||||
5 | the basis on which State funds are to be
paid to the Authority | ||||||
6 | as provided in this Act, or the use of such funds,
so as to | ||||||
7 | impair the terms of any such contract. The Authority is
| ||||||
8 | authorized to include these pledges and agreements of the State | ||||||
9 | in any
contract with the holders of bonds or notes issued | ||||||
10 | pursuant to this
Section. | ||||||
11 | (g)(1) Except as provided in subdivisions (g)(2) and (g)(3) | ||||||
12 | of Section
4.04 of this Act, the Authority shall not at any | ||||||
13 | time issue, sell , or deliver
any bonds or notes (other than | ||||||
14 | Working Cash Notes and lines of credit ) pursuant to this | ||||||
15 | Section
4.04 which will cause
it to have issued and outstanding | ||||||
16 | at any time in excess of $800,000,000 of such
bonds and notes | ||||||
17 | (other than Working Cash Notes and lines of credit ).
The | ||||||
18 | Authority shall not issue, sell, or deliver any Working Cash | ||||||
19 | Notes or establish a line of credit pursuant to this Section | ||||||
20 | that will cause it to have issued and outstanding at any time | ||||||
21 | in excess of $100,000,000. However, the Authority may issue, | ||||||
22 | sell, and deliver additional Working Cash Notes or establish a | ||||||
23 | line of credit before July 1, 2020 2018 that are over and above | ||||||
24 | and in addition to the $100,000,000 authorization such that the | ||||||
25 | outstanding amount of these additional Working Cash Notes and | ||||||
26 | lines of credit do does not exceed at any time $300,000,000.
|
| |||||||
| |||||||
1 | Bonds or notes which are being paid or retired by
such | ||||||
2 | issuance, sale , or delivery of bonds or notes, and bonds or | ||||||
3 | notes for
which sufficient funds have been deposited with the | ||||||
4 | paying agency of
such bonds or notes to provide for payment of | ||||||
5 | principal and interest
thereon or to provide for the redemption | ||||||
6 | thereof, all pursuant to the
ordinance authorizing the issuance | ||||||
7 | of such bonds or notes, shall not be
considered to be | ||||||
8 | outstanding for the purposes of this subsection. | ||||||
9 | (2) In addition to the authority provided by paragraphs
(1) | ||||||
10 | and (3), the Authority is authorized to issue, sell and deliver | ||||||
11 | bonds
or notes for Strategic Capital Improvement Projects | ||||||
12 | approved pursuant to
Section 4.13 as follows: | ||||||
13 | $100,000,000 is authorized to be issued on or after | ||||||
14 | January 1, 1990; | ||||||
15 | an additional $100,000,000 is authorized to be issued | ||||||
16 | on or after
January 1, 1991; | ||||||
17 | an additional $100,000,000 is authorized to be issued | ||||||
18 | on or after
January 1, 1992; | ||||||
19 | an additional $100,000,000 is authorized to be issued | ||||||
20 | on or after
January 1, 1993; | ||||||
21 | an additional $100,000,000 is authorized to be issued | ||||||
22 | on or after
January 1, 1994; and | ||||||
23 | the aggregate total authorization of bonds and notes | ||||||
24 | for Strategic
Capital Improvement Projects as of January 1, | ||||||
25 | 1994, shall be $500,000,000. | ||||||
26 | The Authority is also authorized to issue, sell, and |
| |||||||
| |||||||
1 | deliver bonds or
notes in such amounts as are necessary to | ||||||
2 | provide for the refunding or advance
refunding of bonds or | ||||||
3 | notes issued for Strategic Capital Improvement Projects
under | ||||||
4 | this subdivision (g)(2), provided that no such refunding bond | ||||||
5 | or note
shall mature later than the final maturity date of the | ||||||
6 | series of bonds or notes
being refunded, and provided further | ||||||
7 | that the debt service requirements for
such refunding bonds or | ||||||
8 | notes in the current or any future fiscal year shall
not exceed | ||||||
9 | the debt service requirements for that year on the refunded | ||||||
10 | bonds
or notes. | ||||||
11 | (3) In addition to the authority provided by paragraphs (1) | ||||||
12 | and (2),
the Authority is authorized to issue, sell, and | ||||||
13 | deliver bonds or notes for
Strategic Capital Improvement | ||||||
14 | Projects approved pursuant to Section 4.13 as
follows: | ||||||
15 | $260,000,000 is authorized to be issued on or after | ||||||
16 | January 1, 2000; | ||||||
17 | an additional $260,000,000 is authorized to be issued | ||||||
18 | on or after
January 1, 2001; | ||||||
19 | an additional $260,000,000 is authorized to be issued | ||||||
20 | on or after
January 1, 2002; | ||||||
21 | an additional $260,000,000 is authorized to be issued | ||||||
22 | on or after
January 1, 2003; | ||||||
23 | an additional $260,000,000 is authorized to be issued | ||||||
24 | on or after
January 1, 2004; and | ||||||
25 | the aggregate total authorization of bonds and notes | ||||||
26 | for Strategic
Capital Improvement Projects pursuant to |
| |||||||
| |||||||
1 | this paragraph (3) as of
January 1, 2004 shall be | ||||||
2 | $1,300,000,000. | ||||||
3 | The Authority is also authorized to issue, sell, and | ||||||
4 | deliver bonds or notes
in such amounts as are necessary to | ||||||
5 | provide for the refunding or advance
refunding of bonds or | ||||||
6 | notes issued for Strategic Capital Improvement projects
under | ||||||
7 | this subdivision (g)(3), provided that no such refunding bond | ||||||
8 | or note
shall mature later than the final maturity date of the | ||||||
9 | series of bonds or notes
being refunded, and provided further | ||||||
10 | that the debt service requirements for
such refunding bonds or | ||||||
11 | notes in the current or any future fiscal year shall
not exceed | ||||||
12 | the debt service requirements for that year on the refunded | ||||||
13 | bonds or
notes. | ||||||
14 | (h) The Authority, subject to the terms of any agreements | ||||||
15 | with noteholders
or bond holders as may then exist, shall have | ||||||
16 | power, out of any funds
available therefor, to purchase notes | ||||||
17 | or bonds of the Authority, which
shall thereupon be cancelled. | ||||||
18 | (i) In addition to any other authority granted by law, the | ||||||
19 | State Treasurer
may, with the approval of the Governor, invest | ||||||
20 | or reinvest, at a price not
to exceed par, any State money in | ||||||
21 | the State Treasury which is not needed
for current expenditures | ||||||
22 | due or about to become due in Working Cash Notes. | ||||||
23 | (j)(1) The Authority may establish a line of credit with a | ||||||
24 | bank or other financial institution (as may be evidenced by the | ||||||
25 | issuance of notes or other obligations), secured by and payable | ||||||
26 | from all tax receipts of the Authority and any or all other |
| |||||||
| |||||||
1 | revenues or moneys of the Authority, in an amount not to exceed | ||||||
2 | the limitations set forth in subsection (g)(1). Money so | ||||||
3 | borrowed shall be used to provide money for the Authority or | ||||||
4 | the Service Boards to cover any cash flow deficit which the | ||||||
5 | Authority or a Service Board anticipates incurring, and shall | ||||||
6 | be repaid within 24 months. | ||||||
7 | (2) Before establishing a line of credit under this | ||||||
8 | Section, the Authority shall authorize the line of credit by | ||||||
9 | ordinance. The ordinance shall set forth facts demonstrating | ||||||
10 | the need for the line of credit, state the amount to be | ||||||
11 | borrowed, establish a maximum interest rate limit not to exceed | ||||||
12 | the maximum rate authorized by the Bond Authorization Act, and | ||||||
13 | provide a date by which the borrowed funds shall be repaid. The | ||||||
14 | ordinance shall authorize and direct the relevant officials to | ||||||
15 | make arrangements to set apart and hold, as applicable, the | ||||||
16 | moneys that will be used to repay the borrowing. In addition, | ||||||
17 | the ordinance may authorize the relevant officials to make | ||||||
18 | partial repayments on the line of credit as the moneys become | ||||||
19 | available and may contain any other terms, restrictions, or | ||||||
20 | limitations desirable or necessary to give effect to this | ||||||
21 | subsection (j). | ||||||
22 | (3) The Authority shall notify the Governor's Office of | ||||||
23 | Management and Budget and the State Comptroller at least 30 | ||||||
24 | days before establishing a line of credit and shall file with | ||||||
25 | the Governor's Office of Management and Budget and the State | ||||||
26 | Comptroller a certified copy of any ordinance authorizing the |
| |||||||
| |||||||
1 | establishment of a line of credit at or before establishing the | ||||||
2 | line of credit. | ||||||
3 | (4) Money borrowed under a line of credit pursuant to this | ||||||
4 | subsection (j) shall be general obligations of the Authority to | ||||||
5 | which shall be pledged the full faith and credit of the | ||||||
6 | Authority. | ||||||
7 | (Source: P.A. 98-392, eff. 8-16-13; 99-238, eff. 8-3-15.) | ||||||
8 | Section 40. The Public Utilities Act is amended by adding | ||||||
9 | Section 9-211.5 as follows: | ||||||
10 | (220 ILCS 5/9-211.5 new) | ||||||
11 | Sec. 9-211.5. Recovery of water and wastewater service | ||||||
12 | revenue requirements. A public utility that provides both water | ||||||
13 | and wastewater service may request in a general rate proceeding | ||||||
14 | that the Commission allocate a portion of the public utility's | ||||||
15 | water service revenue requirement for recovery through | ||||||
16 | wastewater base rates or allocate a portion of the public | ||||||
17 | utility's wastewater revenue requirement for recovery through | ||||||
18 | water base rates, and, if requested, the Commission may approve | ||||||
19 | the allocation if it can be shown to be in the public interest. | ||||||
20 | Section 45. The Illinois Highway Code is amended by adding | ||||||
21 | Sections 4-304, 4-305, 5-111, 5-112, 6-140, 6-145, 7-302, and | ||||||
22 | 7-303 as follows: |
| |||||||
| |||||||
1 | (605 ILCS 5/4-304 new) | ||||||
2 | Sec. 4-304. Transportation efficiency report. Every 2 | ||||||
3 | years, the Illinois Department of Transportation shall compile | ||||||
4 | and deliver a report on efficiencies implemented in the | ||||||
5 | previous fiscal years in planning and project management and | ||||||
6 | delivery, along with an explanation of the efficiencies | ||||||
7 | employed to achieve the savings and the methodology used in the | ||||||
8 | calculations. The level of savings achieved must equal, in | ||||||
9 | comparison with the total State transportation construction | ||||||
10 | budget for those years, a minimum of 5% in each fiscal year. | ||||||
11 | The report must identify the projects that have been advanced | ||||||
12 | or completed due to the implementation of efficiency measures. | ||||||
13 | The report shall be delivered to the General Assembly every | ||||||
14 | even-numbered year by April 1, beginning April 1, 2020. | ||||||
15 | (605 ILCS 5/4-305 new) | ||||||
16 | Sec. 4-305. Transportation asset list. The Secretary of | ||||||
17 | Transportation shall compile a list of assets that contains | ||||||
18 | information on transportation assets within this State, | ||||||
19 | including the age of each asset, the annual maintenance | ||||||
20 | schedule, the year of last major reconstruction, and any future | ||||||
21 | construction related to improving or enhancing the assets. | ||||||
22 | The Illinois Department of Transportation, Illinois State | ||||||
23 | Toll Highway Authority, county, municipal, and township road | ||||||
24 | districts shall use this information to better align, plan, | ||||||
25 | design, and coordinate construction and repair of |
| |||||||
| |||||||
1 | transportation assets within this State. | ||||||
2 | The report shall be delivered to the General Assembly by | ||||||
3 | April 1 of every year, beginning with April 1, 2020. | ||||||
4 | (605 ILCS 5/5-111 new) | ||||||
5 | Sec. 5-111. County efficiencies report. Every 2 years, each | ||||||
6 | county shall compile and make public a report on efficiencies | ||||||
7 | implemented in the previous fiscal years in planning and | ||||||
8 | project management and delivery, along with an explanation of | ||||||
9 | the efficiencies employed to achieve the savings and the | ||||||
10 | methodology used in the calculations. The level of savings | ||||||
11 | achieved must equal, in comparison with the total government | ||||||
12 | transportation construction budget for those years, a minimum | ||||||
13 | of 5% over those fiscal years. The report must identify the | ||||||
14 | projects that have been advanced or completed due to the | ||||||
15 | implementation of efficiency measures. | ||||||
16 | (605 ILCS 5/5-112 new) | ||||||
17 | Sec. 5-112. Transportation asset report. Every 2 years, | ||||||
18 | each county shall compile and submit to the Department a list | ||||||
19 | of transportation assets that includes age of each asset, the | ||||||
20 | annual maintenance schedule, the year of last major | ||||||
21 | reconstruction, and any future construction related to | ||||||
22 | improving or enhancing the asset. | ||||||
23 | This list shall be made publicly accessible by April 1 of | ||||||
24 | every even-numbered year, beginning with April 1, 2020. |
| |||||||
| |||||||
1 | (605 ILCS 5/6-140 new) | ||||||
2 | Sec. 6-140. Townships efficiencies report. Each township | ||||||
3 | shall compile and make public a report every 4 years on | ||||||
4 | efficiencies implemented in the previous fiscal years in | ||||||
5 | planning and project management and delivery, along with an | ||||||
6 | explanation of the efficiencies employed to achieve the savings | ||||||
7 | and the methodology used in the calculations. The level of | ||||||
8 | savings achieved must equal, in comparison with the total | ||||||
9 | government transportation construction budget for those years, | ||||||
10 | a minimum of 5% over those fiscal years. The report must | ||||||
11 | identify the projects that have been advanced or completed due | ||||||
12 | to the implementation of efficiency measures. | ||||||
13 | A township is exempt from this requirement if it has | ||||||
14 | abolished the road district of that township. | ||||||
15 | This report shall be made publicly accessible by April 1 of | ||||||
16 | every fourth year, beginning April 1, 2020. | ||||||
17 | (605 ILCS 5/6-145 new) | ||||||
18 | Sec. 6-145. Townships transportation assets list. Every 2 | ||||||
19 | years, each township shall compile and submit to the Department | ||||||
20 | a list of transportation assets that includes the age of the | ||||||
21 | assets, annual maintenance schedule, year of last major | ||||||
22 | reconstruction, and any future construction related to | ||||||
23 | improving or enhancing the assets. | ||||||
24 | A township is exempt from this requirement if it has |
| |||||||
| |||||||
1 | abolished the road district of that township. | ||||||
2 | This list shall be made publicly accessible by April 1 of | ||||||
3 | every even-numbered year, beginning April 1, 2020. | ||||||
4 | (605 ILCS 5/7-302 new) | ||||||
5 | Sec. 7-302. Municipalities efficiencies report. Each | ||||||
6 | municipality shall compile and make public a report every 4 | ||||||
7 | years on efficiencies implemented in the previous fiscal years | ||||||
8 | in planning and project management and delivery, along with an | ||||||
9 | explanation of the efficiencies employed to achieve the savings | ||||||
10 | and the methodology used in the calculations. The level of | ||||||
11 | savings achieved must equal, in comparison with the total | ||||||
12 | government transportation construction budget for those years, | ||||||
13 | a minimum of 5% over those fiscal years. The report must | ||||||
14 | identify the projects that have been advanced or completed due | ||||||
15 | to the implementation of efficiency measures. | ||||||
16 | A municipality is exempt from this requirement if it has | ||||||
17 | abolished the road district of that municipality. | ||||||
18 | This report shall be made publicly accessible by April 1 of | ||||||
19 | every fourth year, beginning April 1, 2020. | ||||||
20 | (605 ILCS 5/7-303 new) | ||||||
21 | Sec. 7-303. Assets list; municipalities. Every 2 years, | ||||||
22 | each municipality shall compile and submit to the Department a | ||||||
23 | list of transportation assets that includes the age of the | ||||||
24 | assets, annual maintenance schedule, year of last major |
| |||||||
| |||||||
1 | reconstruction, and any future construction related to | ||||||
2 | improving or enhancing the assets. | ||||||
3 | A municipality is exempt from this requirement if it has | ||||||
4 | abolished the road district of that municipality. | ||||||
5 | This list shall be made publicly accessible by April 1 of | ||||||
6 | every odd-numbered year, beginning April 1, 2020. | ||||||
7 | Section 50. The Toll Highway Act is amended by adding | ||||||
8 | Sections 23.1 and 23.2 as follows: | ||||||
9 | (605 ILCS 10/23.1 new) | ||||||
10 | Sec. 23.1. Authority efficiencies report. Every 2 years, | ||||||
11 | the Authority shall compile and deliver a report on | ||||||
12 | efficiencies implemented in the previous fiscal years in | ||||||
13 | planning and project management and delivery, along with an | ||||||
14 | explanation of the efficiencies employed to achieve the savings | ||||||
15 | and the methodology used in the calculations. The level of | ||||||
16 | savings achieved must equal, in comparison with the total State | ||||||
17 | transportation construction budget for those years, a minimum | ||||||
18 | of 5% in each fiscal year. The report must identify the | ||||||
19 | projects that have been advanced or completed due to the | ||||||
20 | implementation of efficiency measures. | ||||||
21 | The report shall be delivered to the General Assembly by | ||||||
22 | April 1 of every odd-numbered year, beginning April 1, 2019. | ||||||
23 | (605 ILCS 10/23.2 new) |
| |||||||
| |||||||
1 | Sec. 23.2. Authority transportation assets list. Every 2 | ||||||
2 | years, the Authority shall compile and deliver a list of | ||||||
3 | transportation assets that includes the age of the assets, | ||||||
4 | annual maintenance schedule, year of last major | ||||||
5 | reconstruction, and any future construction related to | ||||||
6 | improving or enhancing the assets. | ||||||
7 | The list shall be delivered to the General Assembly by | ||||||
8 | April 1 of every odd-numbered year, beginning April 1, 2019. | ||||||
9 | Section 55. The Illinois Vehicle Code is amended by | ||||||
10 | changing Section 3-805 as follows:
| ||||||
11 | (625 ILCS 5/3-805) (from Ch. 95 1/2, par. 3-805)
| ||||||
12 | Sec. 3-805. Electric vehicles.
The owner of a motor | ||||||
13 | vehicle of the first division or a motor vehicle of the second | ||||||
14 | division weighing 8,000 pounds or less propelled by an
electric | ||||||
15 | engine and not utilizing motor fuel, may register such vehicle | ||||||
16 | for the registration period and fee for non-electric motor | ||||||
17 | vehicles under Section 3-806
a fee not to exceed $35 for a | ||||||
18 | 2-year registration period .
The Secretary may, in his | ||||||
19 | discretion, prescribe that electric vehicle
registration | ||||||
20 | plates be issued for an indefinite term, such term to | ||||||
21 | correspond
to the term of registration plates issued generally, | ||||||
22 | as provided in Section
3-414.1. In no event may the | ||||||
23 | registration fee for electric vehicles exceed
$18 per | ||||||
24 | registration year.
|
| |||||||
| |||||||
1 | (Source: P.A. 96-1135, eff. 7-21-10.)
| ||||||
2 | Section 60. The Public-Private Partnerships for | ||||||
3 | Transportation Act is amended by changing Section 15 as | ||||||
4 | follows: | ||||||
5 | (630 ILCS 5/15)
| ||||||
6 | Sec. 15. Formation of public-private agreements; project | ||||||
7 | planning. | ||||||
8 | (a) Each transportation agency may exercise the powers | ||||||
9 | granted by this Act to do some or all to develop, finance, and | ||||||
10 | operate any part of one or more transportation projects through | ||||||
11 | public-private agreements with one or more private entities, | ||||||
12 | except for transportation projects for the Illiana Expressway | ||||||
13 | as defined in the Public Private Agreements for the Illiana | ||||||
14 | Expressway Act. The net proceeds, if any, arising out of a | ||||||
15 | transportation project or public-private agreement undertaken | ||||||
16 | by the Department pursuant to this Act shall be deposited into | ||||||
17 | the Public-Private Partnerships for Transportation Fund. The | ||||||
18 | net proceeds arising out of a transportation project or | ||||||
19 | public-private agreement undertaken by the Authority pursuant | ||||||
20 | to this Act shall be deposited into the Illinois State Toll | ||||||
21 | Highway Authority Fund and shall be used only as authorized by | ||||||
22 | Section 23 of the Toll Highway Act. | ||||||
23 | (b) The Authority shall not enter into a public-private | ||||||
24 | agreement involving a lease or other transfer of any toll |
| |||||||
| |||||||
1 | highway, or portions thereof, under the Authority's | ||||||
2 | jurisdiction which were open to vehicular traffic on the | ||||||
3 | effective date of this Act. The Authority shall not enter into | ||||||
4 | a public-private agreement for the purpose of making roadway | ||||||
5 | improvements, including but not limited to reconstruction, | ||||||
6 | adding lanes, and adding ramps, to any toll highway, or | ||||||
7 | portions thereof, under the Authority's jurisdiction which | ||||||
8 | were open to vehicular traffic on the effective date of this | ||||||
9 | Act. The Authority shall not use any revenue generated by any | ||||||
10 | toll highway, or portions thereof, under the Authority's | ||||||
11 | jurisdiction which were open to vehicular traffic on the | ||||||
12 | effective date of this Act to enter into or provide funding for | ||||||
13 | a public-private agreement. The Authority shall not use any | ||||||
14 | asset, or the proceeds from the sale or lease of any such | ||||||
15 | asset, which was owned by the Authority on the effective date | ||||||
16 | of this Act to enter into or provide funding for a | ||||||
17 | public-private agreement. The Authority may enter into a | ||||||
18 | public-private partnership to develop, finance, and operate | ||||||
19 | new toll highways authorized by the Governor and the General | ||||||
20 | Assembly pursuant to Section 14.1 of the Toll Highway Act, | ||||||
21 | non-highway transportation projects on the toll highway system | ||||||
22 | such as commuter rail or high-speed rail lines, and intelligent | ||||||
23 | transportation infrastructure that will enhance the safety, | ||||||
24 | efficiency, and environmental quality of the toll highway | ||||||
25 | system. The Authority may operate or provide operational | ||||||
26 | services such as toll collection on highways which are |
| |||||||
| |||||||
1 | developed or financed, or both, through a public-private | ||||||
2 | agreement entered into by another public entity, under an | ||||||
3 | agreement with the public entity or contractor responsible for | ||||||
4 | the transportation project. | ||||||
5 | (c) A contractor has: | ||||||
6 | (1) all powers allowed by law generally to a private | ||||||
7 | entity having the same form of organization as the | ||||||
8 | contractor; and | ||||||
9 | (2) the power to develop, finance, and operate the | ||||||
10 | transportation facility and to impose user fees in | ||||||
11 | connection with the use of the transportation facility, | ||||||
12 | subject to the terms of the public-private agreement. | ||||||
13 | No tolls or user fees may be imposed by the contractor | ||||||
14 | except as set forth in a public-private agreement. | ||||||
15 | (d) Each year, at least 30 days prior to the beginning of | ||||||
16 | the transportation agency's fiscal year, and at other times the | ||||||
17 | transportation agency deems necessary, the Department and the | ||||||
18 | Authority shall submit for review to the General Assembly a | ||||||
19 | description of potential projects that the transportation | ||||||
20 | agency is considering undertaking under this Act. Any | ||||||
21 | submission from the Authority shall indicate which of its | ||||||
22 | potential projects, if any, will involve the proposer operating | ||||||
23 | the transportation facility for a period of one year or more. | ||||||
24 | Prior to the issuance of any request for qualifications or | ||||||
25 | request for proposals with respect to any potential project | ||||||
26 | undertaken by the Department or the Authority pursuant to |
| |||||||
| |||||||
1 | Section 20 of this Act, the project may not move forward if the | ||||||
2 | General Assembly declares by joint resolution that the project | ||||||
3 | is not in the public interest commencement of a procurement | ||||||
4 | process for that particular potential project shall be | ||||||
5 | authorized by joint resolution of the General Assembly . | ||||||
6 | (e) Each year, at least 30 days prior to the beginning of | ||||||
7 | the transportation agency's fiscal year, the transportation | ||||||
8 | agency shall submit a description of potential projects that | ||||||
9 | the transportation agency is considering undertaking under | ||||||
10 | this Act to each county, municipality, and metropolitan | ||||||
11 | planning organization, with respect to each project located | ||||||
12 | within its boundaries. | ||||||
13 | (f) Any project undertaken under this Act shall be subject | ||||||
14 | to all applicable planning requirements otherwise required by | ||||||
15 | law, including land use planning, regional planning, | ||||||
16 | transportation planning, and environmental compliance | ||||||
17 | requirements. | ||||||
18 | (g) Any new transportation facility developed as a project | ||||||
19 | under this Act must be consistent with the regional plan then | ||||||
20 | in existence of any metropolitan planning organization in whose | ||||||
21 | boundaries the project is located.
| ||||||
22 | (h) The transportation agency shall hold one or more public | ||||||
23 | hearings within 30 days of each of its submittals to the | ||||||
24 | General Assembly under subsection (d) of this Section. These | ||||||
25 | public hearings shall address potential projects that the | ||||||
26 | transportation agency submitted to the General Assembly for |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1 | review under subsection (d). The transportation agency shall | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2 | publish a notice of the hearing or hearings at least 7 days | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3 | before a hearing takes place, and shall include the following | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4 | in the notice: (i) the date, time, and place of the hearing and | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5 | the address of the transportation agency; (ii) a brief | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6 | description of the potential projects that the transportation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7 | agency is considering undertaking; and (iii) a statement that | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8 | the public may comment on the potential projects. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
9 | (Source: P.A. 97-502, eff. 8-23-11; 97-858, eff. 7-27-12.)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||