093_HB0179

 
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 1        AN ACT concerning finance.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Transportation  Bond Act is amended by
 5    changing Section 2 as follows:

 6        (30 ILCS 415/2) (from Ch. 127, par. 702)
 7        Sec. 2.  The State of Illinois is  authorized  to  issue,
 8    sell  and provide for the retirement of bonds of the State of
 9    Illinois in the amount of $1,729,000,000, hereinafter  called
10    the  "Bonds",  for  the  specific  purpose  of  promoting and
11    assuring rapid, efficient, and safe  highway,  air  and  mass
12    transportation  for the inhabitants of the State by providing
13    monies, including the making of grants and loans, to be  used
14    for  the acquisition, construction, reconstruction, extension
15    and improvement of the  following  transportation  facilities
16    and  equipment  and  for the acquisition of real property and
17    interests  in  real  property  required  or  expected  to  be
18    required in connection therewith, and within the  limitations
19    set forth in Section 5.1 of this Act for the specific purpose
20    set forth in Section 2(b) (2) and (3) of this Act:
21        (a) (1)  the  acquisition,  construction, reconstruction,
22    extension  and  improvement  of  State   highways,   arterial
23    highways, freeways, roads, structures separating highways and
24    railroads and bridges; and
25        (2)  the  repair  and  reconstruction of bridges on roads
26    maintained by counties,  municipalities,  townships  or  road
27    districts;
28        (b) (1)  the    acquisition,   construction,   extension,
29    reconstruction  and  improvement   of   mass   transportation
30    facilities  including  rapid  transit,  rail,  bus  and other
31    equipment used in connection therewith by the  State  or  any
 
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 1    unit  of  local  government, special transportation district,
 2    municipal  corporation  or  other   corporation   or   public
 3    authority   authorized   to   provide   and   promote  public
 4    transportation within  the  State  or  two  or  more  of  the
 5    foregoing acting jointly; and
 6        (2)  for  the  purpose of providing immediate relief from
 7    existing  or  impending  inability  to  meet  principal   and
 8    interest payments and thereby aiding in achieving the maximum
 9    benefit  for  the  public  from  the  transportation  capital
10    improvement  program,  to  provide  funds  for  any  payments
11    required  to  be made for principal of and interest on bonds,
12    certificates, equipment trust certificates or other evidences
13    of indebtedness issued or guaranteed prior to the passage  of
14    this  Act  by  the  State  or  any  unit of local government,
15    special transportation  district,  municipal  corporation  or
16    other  corporation  or public authority authorized to provide
17    public transportation within the State, or two or more of the
18    foregoing  acting  jointly,  pursuant   to   any   indenture,
19    ordinance,  resolution,  agreement  or contract to obtain and
20    finance transportation facilities; and,
21        (3)  for the purpose of reimbursing the  General  Revenue
22    Fund  for  monies  paid  from  the General Revenue Fund after
23    passage of this Act for the purpose described in Section 2(b)
24    (2).
25        (c)  the    acquisition,     construction,     extension,
26    reconstruction,   and  improvement  of  airport  or  aviation
27    facilities  and  any  equipment,   including   snow   removal
28    equipment,    used   in   connection   therewith,   including
29    reimbursement for certain engineering  and  land  acquisition
30    costs as provided in Section 34a of the "Illinois Aeronautics
31    Act", approved July 24, 1945, as amended, by the State or any
32    unit  of  local  government, special transportation district,
33    municipal  corporation  or  other   corporation   or   public
34    authority  authorized to provide public transportation within
 
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 1    the State or two or more of the foregoing acting jointly.
 2        $1,326,000,000 of  the  Bonds  will  be  used  for  State
 3    highway  acquisition, construction, reconstruction, extension
 4    and improvement as specifically described herein, hereinafter
 5    called the "Transportation Bonds, Series A". $363,000,000  of
 6    the  Bonds  will be used for the mass transportation purposes
 7    specifically described herein and $40,000,000  of  the  Bonds
 8    will be used for the aviation purposes specifically described
 9    herein,  such  $403,000,000 of Bonds collectively hereinafter
10    called the "Transportation Bonds, Series B".
11        The  $75,000,000  authorized  for   mass   transportation
12    purposes by this amendatory Act of 1973 shall be used for the
13    acquisition  of  mass transportation equipment including rail
14    and bus, and other equipment used in connection therewith for
15    the area comprising  the  counties  of  DuPage,  Kane,  Lake,
16    McHenry  and  Will,  and  that  portion of the County of Cook
17    outside the City of Chicago, as determined  by  the  Regional
18    Transportation   Authority   established   pursuant  to  "The
19    Regional Transportation Authority Act", enacted by  the  78th
20    General  Assembly.  The  proceeds  of  the sale of such bonds
21    shall be expended only to, or  with  the  approval  of,  such
22    Authority. Nothing in this paragraph prohibits that Authority
23    from using or approving the use of such proceeds for purposes
24    of  acquisition  of  mass  transportation  equipment  for use
25    between such area and other areas.
26        Of the Bonds authorized to be used for highway  purposes,
27    the  proceeds  of  $14,965,100 of such bonds shall be used by
28    the Department of  Transportation  for  the  purpose  of  the
29    repair  and  reconstruction of unsafe and substandard bridges
30    on roads maintained by  counties,  municipalities,  townships
31    and  road  districts  under the Illinois Highway Code and the
32    proceeds of $12,000,000 of such bonds shall be  used  by  the
33    Department   of  Transportation  for  the  same  purposes  as
34    provided in Sections 6-902  through  6-905  of  the  Illinois
 
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 1    Highway Code.
 2        Of  the Bonds authorized to be sold for highway purposes,
 3    the proceeds of $36,939,400 of the Bonds shall  be  used  for
 4    such  purposes  within  the  City of Chicago, the proceeds of
 5    $42,457,000 of the Bonds shall be used for such  purposes  in
 6    the  Chicago  urbanized  area, the proceeds of $46,359,000 of
 7    the bonds shall be used for such purposes outside the Chicago
 8    urbanized area, the proceeds of  $142,105,500  of  the  Bonds
 9    shall  be used for such purposes within the Counties of Cook,
10    DuPage,  Kane,  Lake,  McHenry  and  Will,  the  proceeds  of
11    $181,139,100 of the Bonds shall be  used  for  such  purposes
12    within  the  Counties  of  the  State outside the Counties of
13    Cook, DuPage, Kane, Lake, McHenry and Will.
14        Of the $106,000,000 of Bonds authorized to  be  sold  for
15    mass  transportation purposes by this amendatory Act of 1979,
16    $98,000,000 of the Bonds shall  be  used  for  such  purposes
17    within  the Counties of Cook, DuPage, Kane, Lake, McHenry and
18    Will and the proceeds of $8,000,000 of  the  Bonds  shall  be
19    used  for  such  purposes  within  the  Counties of the State
20    outside the Counties of Cook, DuPage, Kane, Lake, McHenry and
21    Will.
22    (Source: P.A. 86-453.)