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1 | | (C) mass transit; |
2 | | (D) airports; |
3 | | (E) bridges; and |
4 | | (F) river transit and ports. |
5 | | (4) cultural and recreational amenities, including, |
6 | | but not limited to: |
7 | | (A) parks; |
8 | | (B) museums; |
9 | | (C) trails; |
10 | | (D) tourist and destination assets; |
11 | | (E) zoos; |
12 | | (F) centers for performing arts; and |
13 | | (G) botanical centers. |
14 | | (5) education; |
15 | | (6) natural resources; and |
16 | | (7) related facilities, fixtures, equipment, and |
17 | | property necessary, appurtenant, or incidental to the |
18 | | operations and services specified in paragraphs (1) |
19 | | through (6). |
20 | | The Authority shall be supportive of, and refrain from |
21 | | unnecessary and unreasonable competition with, private sector |
22 | | and public sector operations when possible. |
23 | | (c) The establishment, maintenance, and operation of safe, |
24 | | adequate, and necessary metropolitan facilities, the creation |
25 | | of an Authority having powers necessary or desirable for the |
26 | | establishment, maintenance, and operation of the metropolitan |
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1 | | facilities beneficial to the territory of the Authority, and |
2 | | the powers and corporate purposes and functions of the |
3 | | Authority are public and governmental in nature and essential |
4 | | to the public interest in the territory of the Authority. |
5 | | Section 10. Definitions. As used in this Act, unless the |
6 | | context otherwise requires: |
7 | | "Authority" means the Quad Cities Regional Metropolitan |
8 | | Authority created under this Act. |
9 | | "Board" means the Board of Commissioners of the Authority. |
10 | | "Cost", with respect to any project for a metropolitan |
11 | | facility, includes construction contract costs and the costs of |
12 | | engineering, architectural, technical, and legal services, |
13 | | preliminary reports, property valuations, estimates, plans, |
14 | | specifications, notices, acquisition of real and personal |
15 | | property, consequential damages or costs, easements, |
16 | | rights-of-way, supervision, inspection, testing, publications, |
17 | | printing and provisions for contingencies. |
18 | | "Greater metropolitan area" means the combined area of Rock |
19 | | Island County, Illinois, and Scott County, Iowa. |
20 | | "Metropolitan area" means Rock Island County, Illinois, as |
21 | | a separate and distinct area, or Scott County, Iowa, as a |
22 | | separate and distinct area, or each as a part of the greater |
23 | | metropolitan area. |
24 | | "Metropolitan facility" means a structure or fixture, |
25 | | equipment, or property of any kind or nature related to the |
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1 | | scope laid out in subsection (b) of Section 5 that the |
2 | | Authority may construct, acquire, own, lease, or operate, |
3 | | including all related facilities necessary, appurtenant, or |
4 | | incidental to the facilities. |
5 | | "Person" means an individual, firm, partnership, |
6 | | corporation, company, association, or joint stock association, |
7 | | and includes any trustee, receiver, assignee, or personal |
8 | | representative of any of those entities. |
9 | | Section 15. Board of commissioners; appointment. |
10 | | (a) The Authority established under this Act shall be |
11 | | governed by a board of commissioners. Illinois members shall be |
12 | | appointed as provided in subsection (b). The appointment of the |
13 | | commissioners shall be made in writing and shall indicate the |
14 | | legal residence of each appointee. |
15 | | (b) Four residents of Rock Island County shall be appointed |
16 | | to the board of the Authority as provided in this subsection. |
17 | | One member shall reside in the City of Moline and shall be |
18 | | appointed by the Mayor of the City of Moline with the advice |
19 | | and consent of the city council of the City of Moline; one |
20 | | member shall reside in the City of Rock Island and shall be |
21 | | appointed by the Mayor of the City of Rock Island with the |
22 | | advice and consent of the city council of Rock Island; one |
23 | | member shall reside in the City of East Moline and shall be |
24 | | appointed by the Mayor of the City of East Moline with the |
25 | | advice and consent of the city council of East Moline. The |
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1 | | Chairman of the Rock Island County Board, with the advice and |
2 | | consent of the county board, shall shall appoint one resident |
3 | | of Rock Island County to serve on the board; that resident |
4 | | shall reside outside of the cities of Moline, Rock Island, and |
5 | | East Moline. |
6 | | (c) The membership of the board of commissioners shall be |
7 | | gender balanced if possible. The appointing authorities shall |
8 | | strive for gender balance on the board and shall comply with |
9 | | similar laws of the state of Iowa as determined by the |
10 | | appointing authorities. The appointing authorities shall also |
11 | | provide representation for racial groups residing in the |
12 | | metropolitan area based on the ratio of the racial population |
13 | | to the population as a whole. All projects approved by the |
14 | | board shall strive for balanced investment in both metropolitan |
15 | | areas. |
16 | | Section 20. Terms of office. |
17 | | (a) All initial appointments of commissioners shall be made |
18 | | within 30 days after the establishment of the Authority. The |
19 | | Authority is considered established when similar laws are |
20 | | enacted in the State of Iowa and State of Illinois. Each |
21 | | appointment shall be in writing and a certificate of |
22 | | appointment signed by the appointing officer shall be filed and |
23 | | made a matter of record in the office of the county recorder. |
24 | | Except as otherwise provided, commissioners shall be appointed |
25 | | for a term of 4 years and shall qualify within 10 days after |
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1 | | appointment by acceptance and the taking of an oath or |
2 | | affirmation to faithfully perform the duties of office. Members |
3 | | initially appointed to the board of commissioners shall serve |
4 | | from the date of their appointment until June 30 of the second |
5 | | or fourth year after the date of their appointment and shall |
6 | | draw lots to determine the terms for which each shall be |
7 | | appointed. Lots shall be drawn so that no less than 2 and no |
8 | | more than 3 commissioners from each metropolitan area shall |
9 | | serve in each of the 2 classes. Thereafter, commissioners shall |
10 | | be appointed for terms of 4 years beginning on July 1 of the |
11 | | year of appointment. |
12 | | (b) Within 45 days after any vacancy occurs on the board by |
13 | | death, resignation, change of residence to outside the |
14 | | metropolitan area, or any other cause, a successor shall be |
15 | | appointed, in the same manner as the commissioner whose office |
16 | | became vacant, for the unexpired remainder of the term. |
17 | | Commissioners and officers of the board shall serve until a |
18 | | successor is appointed and qualifies. A current city or county |
19 | | elected official in ineligible to serve as commissioner. A |
20 | | former city or county elected officer is ineligible to serve as |
21 | | a commissioner for 2 years after leaving elective office. |
22 | | (c) All appointed members are forbidden to serve longer |
23 | | than 8 consecutive years on the board. Members may be |
24 | | reappointed to the board after 2 years off the board. |
25 | | (d) A city council may vote to remove an appointed member |
26 | | to the board under their jurisdiction for any reason so long as |
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1 | | the council votes in the affirmative of removal with a majority |
2 | | vote of all eligible members. A vote of no, abstention, or |
3 | | absent members counts against the measure. |
4 | | Section 25. Organization; officers; meetings; |
5 | | compensation. |
6 | | (a) The board of commissioners may exercise all of the |
7 | | legislative and executive powers granted under this Act. Within |
8 | | 30 days after the appointment of the initial commissioners, the |
9 | | board shall meet and elect a chairperson from among its members |
10 | | for a term of one year. The chairperson's position shall |
11 | | alternate annually between a commissioner from one state and a |
12 | | commissioner from the other state. The board shall also select |
13 | | a vice-chair, secretary, treasurer, and other officers or |
14 | | employees as necessary for the accomplishment of its corporate |
15 | | objectives, none of whom need be a commissioner. The board, at |
16 | | its first meeting, shall define by ordinance the first and |
17 | | subsequent fiscal years of the Authority and shall adopt a |
18 | | corporate seal and bylaws that shall determine the times for |
19 | | the annual election of officers and for other regular and |
20 | | special meetings of the board. The bylaws shall contain the |
21 | | rules for the transaction of other business of the Authority |
22 | | and for amending the bylaws. |
23 | | (b) Each commissioner of the Authority shall devote the |
24 | | amount of time to the duties of office as the faithful |
25 | | discharge of the duties may require. The board shall reimburse |
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1 | | a commissioner for actual and necessary expenses incurred in |
2 | | the performance of official duties as approved by the board. A |
3 | | commissioner shall not receive a salary or per diem for the |
4 | | performance of official duties. |
5 | | (c) Each commissioner shall comply with restrictions |
6 | | relating to conflicts of interest or the acceptance of gifts as |
7 | | provided in the Public Officer Prohibited Activities Act or in |
8 | | similar laws of the state of Iowa as determined by the board. |
9 | | (d) The commissioners shall conduct their meetings as |
10 | | public meetings with appropriate notice pursuant to the Open |
11 | | Meetings Act or to similar laws of the state of Iowa as |
12 | | determined by the board. |
13 | | (e) The board shall keep and maintain its records as public |
14 | | records pursuant to the Local Records Act. |
15 | | Section 30. Powers and duties. The Authority constitutes a |
16 | | municipal corporation and body politic separate from any other |
17 | | municipal, State, or other public or governmental agency. The |
18 | | Authority has the following express powers, subject to any |
19 | | restrictions or limitations contained in this Act, and all |
20 | | other powers incidental, necessary, convenient, or desirable |
21 | | to carry out and effectuate the express powers to: |
22 | | (1) sue and be sued; |
23 | | (2) locate, acquire, own, establish, operate, and |
24 | | maintain one or more metropolitan facilities upon any land |
25 | | or body of water within its corporate limits, and |
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1 | | construct, develop, expand, extend, and improve any |
2 | | metropolitan facility; |
3 | | (3) acquire, within the corporate limits of the
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4 | | Authority, rights in fee simple in and over land or water, |
5 | | easements upon, over, or across land or water, leasehold |
6 | | interests in land or water, and tangible and intangible |
7 | | personal property, used or useful for the location, |
8 | | establishment, maintenance, development, expansion, |
9 | | extension, or improvement of one or more metropolitan |
10 | | facilities; the acquisition may be by dedication, |
11 | | purchase, gift, agreement, lease, or by condemnation if |
12 | | within the corporate limits of the Authority; the Authority |
13 | | may acquire land in fee simple subject to a mortgage and as |
14 | | part of the purchase price may assume the payment of the |
15 | | indebtedness secured by the mortgage; land may be acquired, |
16 | | possessed, and used for its purposes by the Authority under |
17 | | a written contract for a deed conveying merchantable title, |
18 | | providing that the deed shall be placed in escrow and be |
19 | | delivered upon payment of the purchase price, and |
20 | | containing other terms reasonably incident to the |
21 | | contract; personal property may be purchased under an |
22 | | installment contract or lease-purchase contract; |
23 | | (4) operate, maintain, manage, lease (with or without
a |
24 | | lease-purchase option), sublease, and make and enter into |
25 | | contracts for the use, operation, or management of a |
26 | | metropolitan facility and enact regulations for the |
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1 | | operation, management, or use of a metropolitan facility; |
2 | | (5) fix, charge, and collect reasonable rents, tolls,
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3 | | fees, and charges for the use of a metropolitan facility or |
4 | | any part of a metropolitan facility; rents, tolls, fees, or |
5 | | charges fixed and collected for the use of a metropolitan |
6 | | facility shall be used for the construction, |
7 | | reconstruction, repair, maintenance, or operation of that |
8 | | metropolitan facility or the construction, reconstruction, |
9 | | repair, maintenance, or operation of similar metropolitan |
10 | | facilities; |
11 | | (6) establish and maintain streets and approaches on
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12 | | property of the Authority; |
13 | | (7) remove and relocate hazards or structures on
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14 | | property of the Authority; |
15 | | (8) restrict and reduce the height of objects or
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16 | | buildings on property of the Authority; |
17 | | (9) accept grants, contributions, or loans from, and
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18 | | enter into contracts, leases, or other transactions with, a |
19 | | city, county, State, or federal government; |
20 | | (10) employ, or enter into contracts for the
employment |
21 | | of, any person for professional services that are necessary |
22 | | or desirable for the accomplishment of the corporate |
23 | | objectives of the Authority or the proper administration, |
24 | | management, protection, or control of its property; |
25 | | (11) regulate traffic, speed, movement, and mooring
of |
26 | | vessels on property of the Authority; |
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1 | | (12) regulate traffic, speed, movement, and parking
of |
2 | | motor vehicles upon property of the Authority and employ |
3 | | parking meters, signs, and other devices in the regulation |
4 | | of the motor vehicles; |
5 | | (13) contract for police and fire protection; |
6 | | (14) establish, by ordinance of the Board, all
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7 | | regulations for the execution of the powers specified in |
8 | | this Act, for the government of the Authority, and for the |
9 | | protection of any metropolitan facility within the |
10 | | jurisdiction of the Authority or deemed necessary or |
11 | | desirable to effect its corporate objectives; an ordinance |
12 | | may provide for the revocation, cancellation, or |
13 | | suspension of an existing privilege or franchise as a |
14 | | penalty for a second or subsequent violation by the holder |
15 | | or franchisee of a regulation pertaining to the enjoyment, |
16 | | use, or exercise of the privilege or franchise; the use of |
17 | | a metropolitan facility of the Authority shall be subject |
18 | | to the reasonable regulation and control of the Authority |
19 | | and shall be upon reasonable terms and conditions |
20 | | established by the Board; |
21 | | (15) establish a general operating fund and other
funds |
22 | | as necessary; and |
23 | | (16) do all acts and things necessary or convenient
for |
24 | | the promotion of its business and the general welfare of |
25 | | the Authority in order to carry out the powers granted to |
26 | | it by this Act or any other laws; the Authority has no |
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1 | | power to pledge the taxing power of this State or any |
2 | | political subdivision or agency of this State. |
3 | | Section 35. Rules and ordinances. Rules adopted under |
4 | | Section 40 shall be contained in an ordinance that shall be |
5 | | placed on file in the office of the Authority in typewritten or |
6 | | printed form for public inspection not less than 15 days before |
7 | | adoption. The ordinance may impose fines of not more than $100 |
8 | | as the board deems appropriate upon conviction or guilty plea |
9 | | for each violation and may provide that, in case of a |
10 | | continuing violation, each day during which a violation occurs |
11 | | or continues constitutes a separate offense. |
12 | | Section 40. Procedures. Actions by the Board of a |
13 | | legislative character, including the adoption of rules and |
14 | | referenda, shall be in the form of an ordinance, and after |
15 | | adoption the ordinance shall be filed with the secretary and |
16 | | shall be made a matter of public record in the office of the |
17 | | Authority. Other actions by the Board shall be by resolution, |
18 | | motion, or in other appropriate form. Executive or ministerial |
19 | | duties may be delegated to one or more commissioners or to an |
20 | | authorized officer, employee, agent, or other representative |
21 | | of the Authority. Six commissioners, 3 members from each state |
22 | | within the greater metropolitan area, constitute a quorum to |
23 | | conduct business, and an affirmative vote of a majority of the |
24 | | commissioners from each metropolitan area is required to adopt |
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1 | | or approve an action of the Board. The enacting clause of any |
2 | | ordinance shall be substantially as follows: "Be it ordained by |
3 | | the Board of Commissioners of the Quad Cities Regional |
4 | | Metropolitan Authority". |
5 | | Section 45. Official records; bond for officers and |
6 | | employees. |
7 | | (a) The Board shall provide for the safekeeping of its |
8 | | permanent records and for the recording of the corporate action |
9 | | of the Authority. The Board shall keep a true and accurate |
10 | | account of its receipts, and an annual audit shall be made of |
11 | | its books, records, and accounts by State or private auditors. |
12 | | (b) All officers and employees authorized to receive or |
13 | | retain the custody of moneys or to sign vouchers, checks, |
14 | | warrants, or evidences of indebtedness binding upon the |
15 | | Authority shall furnish a surety bond for the faithful |
16 | | performance of their duties and the faithful accounting of all |
17 | | moneys that may come into their custody in an amount to be |
18 | | fixed and in a form to be approved by the Board. |
19 | | Section 50. Change of name. The Board may change the name |
20 | | of the Authority by ordinance. A certified copy of the |
21 | | ordinance shall be filed with the appropriate State office and |
22 | | the county recorder or equivalent county officer of each county |
23 | | in which the Authority or part of the Authority is located. The |
24 | | name change shall be effective on the date of the filing. |
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1 | | Section 55. Budget and appropriation. |
2 | | (a) Annually, the board shall prepare and adopt a budget |
3 | | and provide appropriations as provided in this Section. |
4 | | (b) The budget shall show (i) the amount required for each |
5 | | class of proposed expenditures, (ii) a comparison of the |
6 | | amounts proposed to be expended with the amounts expended for |
7 | | like purposes for the 2 preceding years, if available, and |
8 | | (iii) the sources of revenue. |
9 | | (c) Not less than 20 days before the date that a budget |
10 | | must be certified as determined by the board and not less than |
11 | | 10 days before the date set for the hearing under subsection |
12 | | (d), the board shall file the budget with the treasurer of the |
13 | | Authority. The treasurer shall post a copy of the budget in the |
14 | | Authority offices for public inspection and comment. |
15 | | (d) The board shall set a time and place for a public |
16 | | hearing on the budget before the final certification date and |
17 | | shall publish notice of the hearing not less than 10 nor more |
18 | | than 20 days before the hearing in one or more newspapers |
19 | | serving the greater metropolitan area. Proof of publication |
20 | | shall be filed with and preserved by the treasurer. |
21 | | (e) At the hearing, any resident or taxpayer of the greater |
22 | | metropolitan area may present to the board objections to or |
23 | | arguments in favor of any part of the budget. |
24 | | (f) After the hearing, the board shall adopt a budget by |
25 | | resolution and shall direct the treasurer to properly certify |
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1 | | and file the budget. |
2 | | (g) The board shall appropriate, by resolution, the amounts |
3 | | deemed necessary for the ensuing fiscal year. All revenue from |
4 | | taxes, fees, tolls, rents, charges, bonds, or any other source |
5 | | shall be appropriated and used for the specific metropolitan |
6 | | facility project for which it was collected or similar |
7 | | metropolitan facility projects. Increases or decreases in |
8 | | these appropriations do not require a budget amendment, but may |
9 | | be provided by resolution at a regular meeting of the board. |
10 | | Section 60. Local occupation and use taxes. |
11 | | (a) If the Authority secures a majority vote in both |
12 | | jurisdictions, the Department of Revenue shall impose the tax |
13 | | structure approved in the referendum, within the metropolitan |
14 | | area located in this State. |
15 | | (b) The Department of Revenue shall, upon collecting any |
16 | | taxes as provided in this Section, pay such taxes over to the |
17 | | State Treasurer as trustee for the Authority. Such taxes shall |
18 | | be held in a trust fund outside the State Treasury, to be known |
19 | | as the Quad Cities Regional Metropolitan Authority Tax Fund. On |
20 | | or before the 25th day of each calendar month, the Department |
21 | | of Revenue shall prepare and certify to the Comptroller of the |
22 | | State of Illinois the amount to be paid to the Authority, which |
23 | | shall be the then balance in the fund, less any amount |
24 | | determined by the Department to be necessary for the payment of |
25 | | refunds. Within 10 days after receipt by the Comptroller of |
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1 | | such certification of the amount to be paid to the Authority, |
2 | | the Comptroller shall cause an order to be drawn for such |
3 | | payment for such amount in accordance with the direction in |
4 | | such certification. |
5 | | (c) The proceeds of the tax imposed under this Section |
6 | | shall be credited to the general operating fund of the |
7 | | Authority. When the referendum authorizing the imposition of |
8 | | the tax is adopted and an ordinance or resolution is adopted |
9 | | and a certified copy of the ordinance or resolution filed with |
10 | | the Department of Revenue, the Department shall proceed to |
11 | | administer and enforce this Section as of the first day of the |
12 | | fourth month following the filing of the ordinance or |
13 | | resolution with the Department. For any subsequent periods, an |
14 | | ordinance or resolution imposing, suspending, or discontinuing |
15 | | the tax under this Section shall be adopted and a certified |
16 | | copy of the ordinance or resolution filed with the Department |
17 | | of Revenue on or before the first day of October, whereupon the |
18 | | Department shall proceed to administer and enforce this Section |
19 | | as of the first day of January next following that adoption and |
20 | | filing. |
21 | | Section 65. Existing jurisdictions. Existing |
22 | | jurisdictions, including those involving airports, mass |
23 | | transit, river bridges, waste disposal systems, schools, and |
24 | | intermodal water ports within their jurisdictional boundaries, |
25 | | are protected from incorporation by the Authority and shall not |
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1 | | be incorporated in the Authority except by their respective |
2 | | governing bodies. However, an existing jurisdiction may |
3 | | negotiate with the Authority to take over its entire powers, |
4 | | income, levy, and debts. The Authority may assume the powers, |
5 | | income, levy, and debts for any type of facility authorized by |
6 | | this Act. |
7 | | Section 70. Cooperation with other governments. The |
8 | | Authority may apply for and receive a grant or loan of moneys |
9 | | or other financial aid from the State or federal government or |
10 | | from any State or federal agency, department, bureau, or board |
11 | | necessary or useful for the undertaking, performance, or |
12 | | execution of any of its corporate objectives or purposes. The |
13 | | Authority may undertake the acquisition, establishment, |
14 | | construction, development, expansion, extension, or |
15 | | improvement of metropolitan facilities within its corporate |
16 | | limits or within or upon any body of water within its corporate |
17 | | limits aided by, in cooperation with, or as a joint enterprise |
18 | | with the State or federal government or with the aid of, in |
19 | | cooperation with, or as a joint project with the State and |
20 | | federal governments. The Authority shall assure, in compliance |
21 | | with any State or federal requirements or directives, that the |
22 | | proceeds of a State or federal grant, loan, or other financial |
23 | | assistance for the provision of facilities or services are used |
24 | | for the express purpose of the financial assistance and to the |
25 | | specific benefit of service areas or persons as designated by |
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1 | | the local, State, or federal funding provider. |
2 | | Section 75. Transfer of existing facilities. |
3 | | (a) Any county, city, commission, authority, or person may |
4 | | sell, lease, lend, grant, or convey to the Authority a |
5 | | facility, any part of a facility, or any interest in real or |
6 | | personal property that may be used by the Authority in the |
7 | | construction, improvement, maintenance, leasing, or operation |
8 | | of any metropolitan facilities. Any county, city, commission, |
9 | | authority, or person may transfer and assign over to the |
10 | | Authority a contract that was awarded by the county, city, |
11 | | commission, authority, or person for the construction of |
12 | | facilities not begun or, if begun, not completed. |
13 | | (b) A proposed action of the Board, and a proposed |
14 | | agreement to acquire, shall be approved by the governing body
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15 | | of the owner of the facilities. If the governing body of a |
16 | | county, city, commission, or authority desires to sell, lease, |
17 | | lend, grant, or convey to the Authority a facility or any part |
18 | | of a facility, the governing body shall adopt a resolution |
19 | | signifying its intention to do so and shall publish the |
20 | | resolution at least one time in a newspaper of general |
21 | | circulation in the county and in a newspaper or newspapers, if |
22 | | necessary, of general circulation in the area served by the |
23 | | county, city, commission, or authority giving notice of a |
24 | | hearing to be held on the question of the sale, lease, loan, |
25 | | grant, or conveyance. The resolution shall be published at |
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1 | | least 14 days before the date of hearing. After the hearing and |
2 | | if in the public interest, the county, city, commission, or |
3 | | authority shall enact an ordinance authorizing the sale, lease, |
4 | | loan, grant, or conveyance.
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5 | | (c) An owner transferring an existing facility to the |
6 | | Authority under this Section shall notify the Board of and make |
7 | | provision in the transfer documents for, where necessary, |
8 | | existing rights, liens, securities, and rights of reentry |
9 | | belong to the State or federal government. |
10 | | (d) This Section, without reference to any other law, shall |
11 | | be deemed complete authority for the acquisition by agreement |
12 | | of a facility as provided in subsection (a), and no proceedings |
13 | | or other action shall be required except as prescribed in this |
14 | | Act. |
15 | | Section 80. Moneys of the Authority. Moneys of the |
16 | | Authority shall be paid to the treasurer of the Authority. The |
17 | | treasurer shall not commingle the moneys with any other moneys, |
18 | | but shall deposit them in a separate account or accounts. |
19 | | Moneys in the accounts shall be paid out on the check of the |
20 | | treasurer on the requisition of the chairperson of the |
21 | | Authority or of another person authorized by the Authority to |
22 | | make the requisition. The Authority may deposit any of its |
23 | | rates, fees, rents, or other charges, receipts, or income with |
24 | | any bank or trust company that is federally insured. |
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1 | | Section 85. Contracts. All contracts entered into by the |
2 | | Authority for the construction, reconstruction, and |
3 | | improvement of metropolitan facilities shall be entered into |
4 | | pursuant to and shall comply with applicable State laws. |
5 | | However, if the Authority determines an emergency exists, it |
6 | | may enter into contracts obligating the Authority for not more |
7 | | than $100,000 per emergency without regard to the requirements |
8 | | of applicable State laws, and the Authority may proceed with |
9 | | the necessary action as expeditiously as possible to the extent |
10 | | necessary to resolve the emergency. |
11 | | Section 90. Exemption from taxation. Since the Authority is |
12 | | performing essential governmental functions, the Authority is |
13 | | not required to pay any taxes or assessments of any kind or |
14 | | nature upon any property required or used by it for its |
15 | | purposes or any rates, fees, rents, receipts, or incomes at any |
16 | | time received by it. The bonds issued by the Authority, their |
17 | | transfer, and the income from the bonds are not taxable income |
18 | | for the purposes of the individual and corporate income tax |
19 | | under Illinois law and shall not be taxed by any political |
20 | | subdivision of this State. For purposes of Section 250 of the |
21 | | Illinois Income Tax Act, the exemption of the income from bonds |
22 | | issued by the Authority shall terminate after all of the bonds |
23 | | have been paid. The amount of such income that shall be added |
24 | | and then subtracted on the Illinois income tax return of a |
25 | | taxpayer, pursuant to Section 203 of the Illinois Income Tax |
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1 | | Act, from federal adjusted gross income or federal taxable |
2 | | income in computing Illinois base income shall be the interest |
3 | | net of any bond premium amortization. |
4 | | Section 95. Dissolution. |
5 | | (a) The Authority shall be dissolved by a unanimous vote of |
6 | | the Board. |
7 | | (b) The Authority shall provide by ordinance for the |
8 | | disposal of any remaining property, the proceeds of which shall |
9 | | first be applied against any outstanding obligation of the |
10 | | Authority. The remaining balance shall be divided between the |
11 | | counties included in the Authority and credited to the general |
12 | | fund of the respective counties. |
13 | | Section 100. Supremacy of compact. The provisions of this |
14 | | Act are subject to the provisions of the compact entered into |
15 | | under the Quad Cities Regional Metropolitan Authority Compact |
16 | | Act. |
17 | | Section 999. Effective date. This Act takes effect upon |
18 | | becoming law.
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