Rep. Elaine Nekritz
Filed: 2/15/2012
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1 | AMENDMENT TO HOUSE BILL 4036
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2 | AMENDMENT NO. ______. Amend House Bill 4036 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Regional Transportation Authority Act is | ||||||
5 | amended by changing Section 3A.09 as follows:
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6 | (70 ILCS 3615/3A.09) (from Ch. 111 2/3, par. 703A.09)
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7 | Sec. 3A.09. General Powers. In addition to any powers | ||||||
8 | elsewhere provided
to the Suburban Bus Board, it shall have all | ||||||
9 | of the powers specified in
Section 2.20 of this Act except for | ||||||
10 | the powers specified in Section 2.20(a)(v). The Board shall | ||||||
11 | also have the power:
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12 | (a) to cooperate with the Regional Transportation | ||||||
13 | Authority in the
exercise by the Regional Transportation | ||||||
14 | Authority of all the powers granted
it by such Act;
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15 | (b) to receive funds from the Regional Transportation | ||||||
16 | Authority pursuant
to Sections 2.02, 4.01, 4.02, 4.09 and |
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1 | 4.10 of the Regional Transportation
Authority Act, all as | ||||||
2 | provided in the Regional Transportation Authority Act;
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3 | (c) to receive financial grants from the Regional | ||||||
4 | Transportation
Authority or a Service Board, as defined in | ||||||
5 | the Regional Transportation
Authority Act, upon such terms | ||||||
6 | and conditions as shall be set forth in a
grant contract | ||||||
7 | between either the Division and the Regional | ||||||
8 | Transportation
Authority or the Division and another | ||||||
9 | Service Board, which contract or
agreement may be for such | ||||||
10 | number of years or duration as the parties agree,
all as | ||||||
11 | provided in the Regional Transportation Authority Act; and | ||||||
12 | (d) to perform all functions necessary for the | ||||||
13 | provision of paratransit services under Section 2.30 of | ||||||
14 | this Act ; and .
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15 | (e) to borrow money for the purposes of: (i) | ||||||
16 | constructing a new garage in the northwestern Cook County | ||||||
17 | suburbs at an estimated cost of $60,000,000, (ii) | ||||||
18 | converting the South Cook garage in Markham to a Compressed | ||||||
19 | Natural Gas facility at an estimated cost of $12,000,000, | ||||||
20 | (iii) constructing a new paratransit garage in DuPage | ||||||
21 | County at an estimated cost of $25,000,000, and (iv) | ||||||
22 | expanding the North Shore garage in Evanston to accommodate | ||||||
23 | additional indoor bus parking at an estimated cost of | ||||||
24 | $3,000,000. For the purpose of evidencing the obligation of | ||||||
25 | the Suburban Bus Board to repay any money borrowed as | ||||||
26 | provided in this subsection, the Suburban Bus Board may |
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1 | issue revenue bonds from time to time pursuant to ordinance | ||||||
2 | adopted by the Suburban Bus Board, subject to the approval | ||||||
3 | of the Regional Transportation Authority of each such | ||||||
4 | issuance by the affirmative vote of 12 of its then | ||||||
5 | Directors; provided that the Suburban Bus Board may not | ||||||
6 | issue bonds for the purpose of financing the acquisition, | ||||||
7 | construction, or improvement of any facility other than | ||||||
8 | those listed in this subsection (e). All such bonds shall | ||||||
9 | be payable solely from the revenues or income or any other | ||||||
10 | funds that the Suburban Bus Board may receive, provided | ||||||
11 | that the Suburban Bus Board may not pledge as security for | ||||||
12 | such bonds the moneys, if any, that the Suburban Bus Board | ||||||
13 | receives from the Regional Transportation Authority | ||||||
14 | pursuant to Section 4.03.3(f) of the Regional | ||||||
15 | Transportation Authority Act. The bonds shall bear | ||||||
16 | interest at a rate not to exceed the maximum rate | ||||||
17 | authorized by the Bond Authorization Act and shall mature | ||||||
18 | at such time or times not exceeding 25 years from their | ||||||
19 | respective dates. Bonds issued pursuant to this paragraph | ||||||
20 | must be issued with scheduled principal or mandatory | ||||||
21 | redemption payments in equal amounts in each fiscal year | ||||||
22 | over the term of the bonds, with the first principal or | ||||||
23 | mandatory redemption payment scheduled within the fiscal | ||||||
24 | year in which bonds are issued or within the next | ||||||
25 | succeeding fiscal year. At least 25%, based on total | ||||||
26 | principal amount, of all bonds authorized pursuant to this |
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1 | Section shall be sold pursuant to notice of sale and public | ||||||
2 | bid. No more than 75%, based on total principal amount, of | ||||||
3 | all bonds authorized pursuant to this Section shall be sold | ||||||
4 | by negotiated sale. The maximum principal amount of the | ||||||
5 | bonds that may be issued may not exceed $100,000,000. The | ||||||
6 | bonds shall have all the qualities of negotiable | ||||||
7 | instruments under the laws of this State. To secure the | ||||||
8 | payment of any or all of such bonds and for the purpose of | ||||||
9 | setting forth the covenants and undertakings of the | ||||||
10 | Suburban Bus Board in connection with the issuance thereof | ||||||
11 | and the issuance of any additional bonds payable from such | ||||||
12 | revenue or income as well as the use and application of the | ||||||
13 | revenue or income received by the Suburban Bus Board, the | ||||||
14 | Suburban Bus Board may execute and deliver a trust | ||||||
15 | agreement or agreements; provided that no lien upon any | ||||||
16 | physical property of the Suburban Bus Board shall be | ||||||
17 | created thereby. A remedy for any breach or default of the | ||||||
18 | terms of any such trust agreement by the Suburban Bus Board | ||||||
19 | may be by mandamus proceedings in any court of competent | ||||||
20 | jurisdiction to compel performance and compliance | ||||||
21 | therewith, but the trust agreement may prescribe by whom or | ||||||
22 | on whose behalf such action may be instituted. Under no | ||||||
23 | circumstances shall any bonds issued by the Suburban Bus | ||||||
24 | Board or any other obligation of the Suburban Bus Board in | ||||||
25 | connection with the issuance of such bonds be or become an | ||||||
26 | indebtedness or obligation of the State of Illinois, the |
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1 | Regional Transportation Authority, or any other political | ||||||
2 | subdivision of or municipality within the State, nor shall | ||||||
3 | any such bonds or obligations be or become an indebtedness | ||||||
4 | of the Suburban Bus Board within the purview of any | ||||||
5 | constitutional limitation or provision, and it shall be | ||||||
6 | plainly stated on the face of each bond that it does not | ||||||
7 | constitute such an indebtedness or obligation but is | ||||||
8 | payable solely from the revenues or income as aforesaid. | ||||||
9 | (Source: P.A. 94-370, eff. 7-29-05.)".
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