Full Text of SB0003 95th General Assembly
SB0003 95TH GENERAL ASSEMBLY
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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 SB0003
Introduced 1/10/2007, by Sen. Emil Jones, Jr. SYNOPSIS AS INTRODUCED: |
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30 ILCS 415/2 |
from Ch. 127, par. 702 |
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Amends the Transportation Bond Act. Decreases the amount of bonds authorized to be issued for specified purposes by $1. Provides that the bill may be referred to as the Illinois Infrastructure, Transportation, and Transit Act of 2007. Effective immediately.
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A BILL FOR
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SB0003 |
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LRB095 04981 RCE 25054 b |
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| AN ACT concerning bonds, which may be referred to as the | 2 |
| Illinois Infrastructure, Transportation, and Transit Act of | 3 |
| 2007.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Transportation Bond Act is amended by | 7 |
| changing Section 2 as follows:
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| (30 ILCS 415/2) (from Ch. 127, par. 702)
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| Sec. 2. The State of Illinois is authorized to issue, sell | 10 |
| and
provide for the retirement of bonds of the State of | 11 |
| Illinois in the
amount of $1,728,999,999
$1,729,000,000 , | 12 |
| hereinafter called the "Bonds", for the
specific purpose of | 13 |
| promoting and assuring rapid, efficient, and safe
highway, air | 14 |
| and mass transportation for the inhabitants of the State by
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| providing monies, including the making of grants and loans, to | 16 |
| be used
for the acquisition, construction, reconstruction, | 17 |
| extension and
improvement of the following transportation | 18 |
| facilities and equipment and
for the acquisition of real | 19 |
| property and interests in real property
required or expected to | 20 |
| be required in connection therewith, and within
the limitations | 21 |
| set forth in Section 5.1 of this Act for the specific
purpose | 22 |
| set forth in Section 2(b) (2) and (3) of this Act:
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| (a) (1) the acquisition, construction, reconstruction, |
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SB0003 |
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LRB095 04981 RCE 25054 b |
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| extension
and improvement of State highways, arterial | 2 |
| highways, freeways, roads,
structures separating highways and | 3 |
| railroads and bridges; and
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| (2) the repair and reconstruction of bridges on roads | 5 |
| maintained by
counties, municipalities, townships or road | 6 |
| districts;
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| (b) (1) the acquisition, construction, extension, | 8 |
| reconstruction
and improvement of mass transportation | 9 |
| facilities including rapid
transit, rail, bus and other | 10 |
| equipment used in connection therewith by
the State or any unit | 11 |
| of local government, special transportation
district, | 12 |
| municipal corporation or other corporation or public authority
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| authorized to provide and promote public transportation within | 14 |
| the State
or two or more of the foregoing acting jointly; and
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| (2) for the purpose of providing immediate relief from | 16 |
| existing or
impending inability to meet principal and interest | 17 |
| payments and thereby
aiding in achieving the maximum benefit | 18 |
| for the public from the
transportation capital improvement | 19 |
| program, to provide funds for any
payments required to be made | 20 |
| for principal of and interest on bonds,
certificates, equipment | 21 |
| trust certificates or other evidences of
indebtedness issued or | 22 |
| guaranteed prior to the passage of this Act by
the State or any | 23 |
| unit of local government, special transportation
district, | 24 |
| municipal corporation or other corporation or public authority
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| authorized to provide public transportation within the State, | 26 |
| or two or
more of the foregoing acting jointly, pursuant to any |
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SB0003 |
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LRB095 04981 RCE 25054 b |
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| indenture,
ordinance, resolution, agreement or contract to | 2 |
| obtain and finance
transportation facilities; and,
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| (3) for the purpose of reimbursing the General Revenue Fund | 4 |
| for
monies paid from the General Revenue Fund after passage of | 5 |
| this Act for
the purpose described in Section 2(b) (2).
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| (c) the acquisition, construction, extension, | 7 |
| reconstruction, and
improvement of airport or aviation | 8 |
| facilities and any equipment used in
connection therewith, | 9 |
| including reimbursement for certain engineering
and land | 10 |
| acquisition costs as provided in Section 34a of the "Illinois
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| Aeronautics Act", approved July 24, 1945, as amended,
by the | 12 |
| State or any unit of local government,
special transportation | 13 |
| district, municipal corporation or other
corporation or public | 14 |
| authority authorized to provide public
transportation within | 15 |
| the State or two or more of the foregoing acting
jointly.
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| $1,326,000,000 of the Bonds will be used for State
highway | 17 |
| acquisition,
construction, reconstruction, extension and | 18 |
| improvement as specifically
described herein, hereinafter | 19 |
| called the "Transportation Bonds, Series
A". $363,000,000 of | 20 |
| the Bonds will be used for the
mass transportation
purposes | 21 |
| specifically described herein and $40,000,000 of the Bonds
will | 22 |
| be used for the aviation purposes specifically described | 23 |
| herein,
such $403,000,000 of Bonds collectively hereinafter | 24 |
| called the
"Transportation Bonds, Series B".
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| The $75,000,000 authorized for mass transportation | 26 |
| purposes by this
amendatory Act of 1973 shall be used for the |
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LRB095 04981 RCE 25054 b |
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| acquisition of mass
transportation equipment including rail | 2 |
| and bus, and other equipment
used in connection therewith for | 3 |
| the area comprising the counties of
DuPage, Kane, Lake, McHenry | 4 |
| and Will, and that portion of the County of
Cook outside the | 5 |
| City of Chicago, as determined by the Regional
Transportation | 6 |
| Authority established pursuant to "The Regional
Transportation | 7 |
| Authority Act", enacted by the 78th General Assembly. The
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| proceeds of the sale of such bonds shall be expended only to, | 9 |
| or with
the approval of, such Authority. Nothing in this | 10 |
| paragraph prohibits
that Authority from using or approving the | 11 |
| use of such proceeds for
purposes of acquisition of mass | 12 |
| transportation equipment for use between
such area and other | 13 |
| areas.
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| Of the Bonds authorized to be used for highway
purposes, | 15 |
| the proceeds of $14,965,100 of such bonds
shall be used by the
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| Department of Transportation for the purpose of the repair and
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| reconstruction of unsafe and substandard bridges on roads | 18 |
| maintained by
counties, municipalities, townships and road | 19 |
| districts under the
Illinois Highway Code and the proceeds of | 20 |
| $12,000,000 of such bonds
shall be used by the Department of | 21 |
| Transportation for the same purposes
as provided in Sections | 22 |
| 6-902 through 6-905 of the Illinois Highway
Code.
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| Of the Bonds authorized to be sold for highway
purposes, | 24 |
| the proceeds of
$36,939,400 of
the Bonds shall be used for such | 25 |
| purposes within the City of Chicago,
the proceeds of | 26 |
| $42,457,000 of the Bonds shall be used
for such purposes
in the |
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LRB095 04981 RCE 25054 b |
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| Chicago urbanized area, the proceeds of $46,359,000 of the
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| bonds shall be used for such purposes outside the Chicago | 3 |
| urbanized
area, the proceeds of $142,105,500 of the Bonds
shall | 4 |
| be used for such purposes within the Counties of Cook, DuPage, | 5 |
| Kane,
Lake, McHenry and Will, the proceeds of $181,139,100 of | 6 |
| the Bonds shall
be used for such purposes within the Counties | 7 |
| of the State outside the Counties
of Cook, DuPage, Kane, Lake, | 8 |
| McHenry and Will.
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| Of the $106,000,000 of Bonds authorized to be sold
for mass | 10 |
| transportation
purposes by this amendatory Act of 1979, | 11 |
| $98,000,000
of the Bonds shall
be used for such purposes within | 12 |
| the Counties of Cook, DuPage, Kane, Lake,
McHenry and Will and | 13 |
| the proceeds of $8,000,000 of the
Bonds shall be used
for such | 14 |
| purposes within the Counties of the State outside the Counties
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| of Cook, DuPage, Kane, Lake, McHenry and Will.
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| (Source: P.A. 86-453.)
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| Section 99. Effective date. This Act takes effect upon | 18 |
| becoming law.
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