Full Text of HB0004 95th General Assembly
HB0004sam002 95TH GENERAL ASSEMBLY
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Sen. Terry Link
Filed: 5/23/2007
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| AMENDMENT TO HOUSE BILL 4
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| AMENDMENT NO. ______. Amend House Bill 4, AS AMENDED, by | 3 |
| replacing everything after the enacting clause with the | 4 |
| following:
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| "Section 5. The Airport Authorities Act is amended by | 6 |
| changing Sections 1, 3.1, 14.1, 14.2, and 14.3 and by adding | 7 |
| Sections 22.1, 22.2, 22.3, 22.4, 22.6, and 22.7 as follows:
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| (70 ILCS 5/1) (from Ch. 15 1/2, par. 68.1)
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| Sec. 1. Definitions. When used in this Act:
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| "Aeronautics" means the act or practice of the art and | 11 |
| science of
transportation by aircraft and instruction therein, | 12 |
| and establishment,
construction, extension, operation, | 13 |
| improvement, repair or maintenance of
airports and airport | 14 |
| facilities and air navigation facilities, and the
operation, | 15 |
| construction, repair or maintenance of aircraft.
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| "Aircraft" means any contrivance now known or hereafter |
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| invented, used
or designed for navigation of, or flight in, the | 2 |
| air.
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| "Airport" means any locality, either land or water, which | 4 |
| is used or
designed for the landing and taking off of aircraft, | 5 |
| or for the location of
runways, landing fields, airdromes, | 6 |
| hangars, buildings, structures, airport
roadways and other | 7 |
| facilities.
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| "Airport hazard" means any structure, or object of natural | 9 |
| growth,
located on or in the vicinity of an airport, or any use | 10 |
| of land near an
airport, which is hazardous to the use of such | 11 |
| airport for the landing and
take-off of aircraft.
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| "Approach" means any path, course or zone defined by an | 13 |
| ordinance of an
Authority, or by other lawful regulation, on | 14 |
| the ground or in the air, or
both, for the use of aircraft in | 15 |
| landing and taking off from an airport
located within an | 16 |
| Authority.
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| "Facilities" means and includes real estate and any and all | 18 |
| forms of
tangible and intangible personal property and services | 19 |
| used or useful as an
aid, or constituting an advantage or | 20 |
| convenience to, the safe landing,
taking off and navigation of | 21 |
| aircraft, or the safe and efficient operation
or maintenance of | 22 |
| a public airport. In addition, for all airport
authorities, | 23 |
| "facilities" means and includes real estate, tangible and
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| intangible personal property, and services used or useful for | 25 |
| commercial
and recreational purposes.
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| "Board of Commissioners" and "Board" mean the board of |
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| commissioners of
an established authority or an authority | 2 |
| proposed to be established.
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| "Commercial aircraft" means any aircraft other than public | 4 |
| aircraft
engaged in the business of transporting persons or | 5 |
| property.
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| "Airport Authority" means a municipal corporation created | 7 |
| and
established under Section 2 of this Act, and includes | 8 |
| Metropolitan
Airport Authorities. "Authority" and "Airport
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| Authority" are synonymous , unless the context requires | 10 |
| otherwise .
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| "Metropolitan Airport Authority" and "Metropolitan | 12 |
| Authority" mean an
airport authority established in the manner | 13 |
| provided in Section 2.7 of
this Act.
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| "Municipality" means any city, village or incorporated | 15 |
| town of the State
of Illinois.
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| "Public Agency" means any political subdivision, public | 17 |
| corporation,
quasi-municipal corporation or municipal | 18 |
| corporation of the State of
Illinois, excepting public | 19 |
| corporations or agencies owning, operating or
maintaining a | 20 |
| college or university with funds of the State of Illinois.
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| "Private aircraft" means any aircraft other than public and | 22 |
| commercial
aircraft.
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| "Public aircraft" means an aircraft used exclusively in the | 24 |
| governmental
service of the United States, or of any state or | 25 |
| of any public agency,
including military and naval aircraft.
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| "Public airport" means an airport owned by an airport |
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| authority or other
public agency which is used or is intended | 2 |
| for use by public, commercial
and private aircraft and by | 3 |
| persons owning, managing, operating or desiring
to use, inspect | 4 |
| or repair any such aircraft or to use any such airport for
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| aeronautical purposes.
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| "Public interest" means the protection, furtherance and | 7 |
| advancement of
the general welfare and of public health and | 8 |
| safety and public necessity
and convenience in respect to | 9 |
| aeronautics.
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| "Rail Authority" means a Rail Authority established as | 11 |
| provided in Section 22.1 of this Act. | 12 |
| "Rail facility" has the meaning set forth in Section 22.2 | 13 |
| of this Act. | 14 |
| "Related facility" has the meaning set forth in Section | 15 |
| 22.2 of this Act.
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| (Source: P.A. 87-854.)
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| (70 ILCS 5/3.1) (from Ch. 15 1/2, par. 68.3a)
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| Sec. 3.1. Boards of commissioners - Appointment. The Boards | 19 |
| of
Commissioners of Authorities shall be appointed as follows:
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| (1) In case there are one or more municipalities having a | 21 |
| population of
5,000 or more within the Authority, the | 22 |
| commissioners shall be appointed as
follows:
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| (a) Where there is only one such municipality, 3 | 24 |
| commissioners shall be
appointed from such municipality, | 25 |
| and 2 commissioners shall be appointed at
large.
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| (a-5) Within 30 days after the effective date of this | 2 |
| amendatory Act of the 95th General Assembly, one additional | 3 |
| commissioner shall be appointed to the board of the | 4 |
| Springfield Airport Authority from each municipality | 5 |
| having a population of 5,000 or more within the Authority, | 6 |
| and one additional commissioner shall be appointed at | 7 |
| large. The additional commissioners shall serve for a term | 8 |
| of 4 or 5 years, as determined by lot. Their successors | 9 |
| shall serve for terms of 5 years.
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| (b) Where there are 2 or more such municipalities, one | 11 |
| commissioner
shall be appointed from each municipality | 12 |
| with a population between 5,000 and 45,000, 2 commissioners | 13 |
| shall be appointed from each municipality with a population | 14 |
| of more than 45,000,
such municipality and 3 commissioners | 15 |
| shall be appointed at large; except
that when the physical | 16 |
| facilities of the airport of the Authority are located
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| wholly within a single county with a population between | 18 |
| 600,000 and
3,000,000 there shall be one commissioner | 19 |
| appointed from each municipality
within the corporate | 20 |
| limits of the Authority having 5,000 or more
population and | 21 |
| 5 commissioners appointed at large. If the
Authority is | 22 |
| located wholly within the corporate limits of such
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| municipalities, 2 commissioners shall be appointed from | 24 |
| the one of such
municipalities having the largest | 25 |
| population, and one commissioner shall be
appointed from | 26 |
| each of the other such municipalities, and 2 commissioners
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| shall be appointed at large.
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| (c) Commissioners representing the area within an | 3 |
| Authority located
outside of any municipality having 5,000 | 4 |
| or more population and
commissioners appointed at large | 5 |
| when the authority is wholly contained
within a single | 6 |
| county shall be appointed by the presiding officer of the
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| county board with the advice and consent of the county | 8 |
| board, and when the
physical facilities of the airport of | 9 |
| the Authority are located wholly within
a single county | 10 |
| with a population between 600,000 and 3,000,000 the
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| commissioners appointed at large shall be appointed by the
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| chairman of the county board of such county, and any
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| commissioner representing the area within any such | 14 |
| municipality shall be
appointed by its mayor or the | 15 |
| presiding officer of its governing body. If
however the | 16 |
| district is located in more than one county other than a
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| county with a population between 600,000 and 3,000,000, the | 18 |
| members of the
General Assembly whose legislative | 19 |
| districts encompass any portion of the
Authority shall | 20 |
| appoint the commissioners representing the area within an
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| Authority located outside of any municipality having 5,000 | 22 |
| or more
population and commissioners at large but any | 23 |
| commissioner representing the
area within any such | 24 |
| municipality shall be appointed by its mayor or the
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| presiding officer of its governing body.
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| (d) A commissioner representing the area within any |
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| such municipality
shall reside within its corporate | 2 |
| limits. A commissioner appointed at large may reside
either | 3 |
| within or without any such municipality but must reside | 4 |
| within the
territory of the authority. Should any | 5 |
| commissioner cease to reside within
that part of the | 6 |
| territory he represents, or should the territory in which
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| he resides cease to be a part of the authority, then his | 8 |
| office shall be
deemed vacated, and shall be filled by | 9 |
| appointment for the remainder of the
term as hereinafter | 10 |
| provided.
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| (2) In case there are no municipalities having a population | 12 |
| of 5,000 or
more within such authority located wholly within a | 13 |
| single county, such
order shall so find, and in such case the | 14 |
| Board shall consist of 5
commissioners who shall be appointed | 15 |
| at large by the presiding officer of
the county board with the | 16 |
| advice and consent of the county board. If
however the district | 17 |
| is located in more than one county, the members of the
General | 18 |
| Assembly whose legislative districts encompass any portion of | 19 |
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Authority shall appoint the commissioners at large.
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| (3) Should a municipality which is wholly within an | 21 |
| authority attain, or
should such a municipality be established, | 22 |
| having a population of 5,000 or
more after the entry of said | 23 |
| order by the circuit court, the presiding
officer of such | 24 |
| municipality may petition the circuit court for an order
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| finding and determining the population of such municipality | 26 |
| and, if it is
found and determined upon the hearing of said |
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| petition that the population
of such municipality is 5,000 or | 2 |
| more, the board of commissioners of such
authority as | 3 |
| previously established shall be increased by one commissioner
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| who shall reside within the corporate limits of such | 5 |
| municipality and shall
be appointed by its presiding officer. | 6 |
| The initial commissioner so
appointed shall serve for a term of | 7 |
| 1, 2, 3, 4 or 5 years, as may be
determined by lot, and his | 8 |
| successors shall be similarly appointed and
shall serve for | 9 |
| terms of 5 years. All provisions of this section applicable
to | 10 |
| commissioners representing municipal areas shall apply to any | 11 |
| such
commissioner. Each such commissioner shall reside within | 12 |
| the authority and
shall continue to reside therein.
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| (4) Notwithstanding any other provision of this Section, | 14 |
| the Board of
Commissioners of a Metropolitan Airport Authority | 15 |
| shall consist of 9
commissioners.
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| Seven commissioners shall be residents of the county with
a | 17 |
| population between 600,000 and 3,000,000 within which the | 18 |
| Metropolitan
Airport Authority was established. These | 19 |
| commissioners shall be
appointed by the county board chairman | 20 |
| of the county
with a population between 600,000 and 3,000,000 | 21 |
| within which the
Metropolitan Airport Authority was | 22 |
| established, with the advice and
consent of the county board of | 23 |
| that county.
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| Two commissioners shall be residents of the territory of | 25 |
| the Authority
located outside the county with a population | 26 |
| between 600,000 and 3,000,000.
These commissioners shall be |
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| appointed jointly by the mayors of the
municipalities having a | 2 |
| population over 5,000 that are located outside the
county with | 3 |
| a population between 600,000 and 3,000,000, with the advice and
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| consent of the governing bodies of those municipalities.
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| The transition from the pre-existing composition of the | 6 |
| Metropolitan
Airport Authority Board of Commissioners to the | 7 |
| composition specified in
this amendatory Act of 1991 shall be | 8 |
| accomplished as follows:
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| (A) The appointee who was required to be a resident of | 10 |
| the area
outside of the county with a population between | 11 |
| 600,000 and 3,000,000 may
serve until his or her term | 12 |
| expires. The replacement shall be one of the 2
appointees | 13 |
| who shall be residents of the territory of the Authority | 14 |
| located
outside the county with a population between | 15 |
| 600,000 and 3,000,000.
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| (B) The other 8 commissioners may serve until their | 17 |
| terms expire. Upon
the occurrence of the second vacancy | 18 |
| among these 8 commissioners after the
effective date of | 19 |
| this amendatory Act of 1991, the replacement shall be the
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| second of the 2 appointees who shall be residents of the | 21 |
| territory of the
Authority located outside of the county | 22 |
| with a population between 600,000
and 3,000,000. Upon the | 23 |
| expiration of the terms of the other 7
commissioners, the | 24 |
| replacements shall be residents of the county with a
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| population between 600,000 and 3,000,000.
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| (C) All commissioners appointed after the effective |
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| date of this
amendatory Act of 1991, and their successors, | 2 |
| shall be appointed in the
manner set forth in this | 3 |
| amendatory Act of 1991.
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| (Source: P.A. 94-466, eff. 1-1-06.)
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| (70 ILCS 5/14.1) (from Ch. 15 1/2, par. 68.14a)
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| Sec. 14.1. Bond limitation. An Authority may secure the | 7 |
| necessary
funds to finance part or all of the cost of (i)
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| acquiring, establishing,
constructing, developing, expanding, | 9 |
| extending or further improving a
public airport, public | 10 |
| airports, or airport facilities within
or without its corporate | 11 |
| limits or within or upon any body of water
adjacent thereto ; | 12 |
| and (ii) studying, designing, acquiring, constructing, | 13 |
| developing, expanding, extending, or improving any rail | 14 |
| facility or related facility as provided in this Act for a Rail | 15 |
| Authority established by the Board of Commissioners of the | 16 |
| Authority, upon a determination by the Board of Commissioners, | 17 |
| that, in its judgment, the rail or other service to be provided | 18 |
| by those rail facilities or related facilities will benefit the | 19 |
| airport operated by the Airport Authority , through the issuance | 20 |
| of bonds as hereinafter provided in
Sections 14.1 to 14.5 | 21 |
| inclusive, to the principal amount of which at any
one time | 22 |
| outstanding, together with other outstanding indebtedness of | 23 |
| the
Authority, shall not exceed 2.3% of the aggregate valuation | 24 |
| of all taxable
property within the Authority, as equalized or | 25 |
| assessed by the Department
of Revenue or, until January 1, |
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| 1983, if greater, the sum that is produced
by multiplying the | 2 |
| Authority's 1978 equalized assessed valuation by the
debt | 3 |
| limitation percentage in effect on January 1, 1979. No such | 4 |
| airport
project shall be financed by the issuance of bonds | 5 |
| under this Section
unless such proposed airport project has | 6 |
| been approved by the Department of
Transportation as to | 7 |
| location and size and found by the Department to be in
the | 8 |
| public interest; provided that the approval of the Department | 9 |
| of
Transportation as provided in Sections 14.1 through 14.5 is | 10 |
| not required in
the case of airport projects consisting solely | 11 |
| of commercial or
recreational facilities or rail facilities or | 12 |
| related facilities .
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| (Source: P.A. 87-854.)
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| (70 ILCS 5/14.2) (from Ch. 15 1/2, par. 68.14b)
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| Sec. 14.2. General plans and cost estimate to be approved. | 16 |
| Before the
adoption of any ordinance providing for the issuance | 17 |
| of such bonds, the
board of commissioners of the authority | 18 |
| shall cause a description and
general plan for the project to | 19 |
| be prepared and submitted to the Department
of Transportation, | 20 |
| together with an estimate of the cost of the project.
The | 21 |
| project and the plans and estimate of cost may be changed with | 22 |
| the
approval of the Department. Prior to undertaking the | 23 |
| project, the final
plans, specifications and estimate of cost | 24 |
| must be approved by the
Department. The requirements of this | 25 |
| Section do not apply to airport
projects consisting solely of |
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| commercial or recreational facilities or rail facilities or | 2 |
| related facilities .
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| (Source: P.A. 87-854; 87-895.)
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| (70 ILCS 5/14.3) (from Ch. 15 1/2, par. 68.14c)
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| Sec. 14.3. Bond ordinance. Upon the approval of the general | 6 |
| plan and
cost estimate for any such project by the Department | 7 |
| of Transportation,
if required, the
Board of Commissioners of | 8 |
| the authority shall provide by ordinance for the
acquisition or | 9 |
| undertaking of such project, and for the issuance of bonds
of | 10 |
| the authority payable from taxes to pay the cost of such | 11 |
| project to the
authority or for costs with respect to rail | 12 |
| facilities or related facilities as provided in Section 14.1 . | 13 |
| The ordinance shall prescribe all details of the bonds and | 14 |
| shall
state the time or times when bonds, and the interest | 15 |
| thereon, shall become
payable and the bonds shall be payable | 16 |
| within not more than 20 years from
the date thereof. Any | 17 |
| authority may agree or contract to sell, issue or
deliver bonds | 18 |
| payable from taxes at such price and upon such terms as
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| determined by the Board of Commissioners of the Authority and | 20 |
| as will not
cause the net effective interest rate to be paid by | 21 |
| the Authority on the
issue of which such bonds are a part to | 22 |
| exceed the greater of (i) the
maximum rate authorized by the | 23 |
| Bond Authorization Act, as amended at the
time of the making of | 24 |
| the contract, or (ii) the greater of 9% per annum
or 125% of | 25 |
| the rate for the most recent date shown in the 20 G.O. Bonds
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| Index of average municipal bond yields as published in the most | 2 |
| recent
edition of The Bond Buyer, published in New York, New | 3 |
| York, (or any
successor publication or index, or if such | 4 |
| publication or index is no
longer published, then any index of | 5 |
| long term municipal tax-exempt bond
yields then selected by the | 6 |
| Board of Commissioners of the Authority), at
the time the | 7 |
| contract is made for such sale of the bonds. Subject to such
| 8 |
| limitation, the interest rate or rates on such bonds may be | 9 |
| established by
reference to an index or formula which may be | 10 |
| implemented or administered
by persons appointed or retained | 11 |
| therefor by the Authority. A contract is
made with respect to | 12 |
| the sale of bonds when an Authority is contractually
obligated | 13 |
| to issue or deliver such bonds to a purchaser who is
| 14 |
| contractually obligated to purchase them, and, with respect to | 15 |
| bonds
bearing interest at a variable rate or subject to payment | 16 |
| upon periodic
demand or put or otherwise subject to remarketing | 17 |
| by or for an Authority, a
contract is made on each date of | 18 |
| change in the variable rate or such
demand, put or remarketing. | 19 |
| The ordinance shall provide for the levy and
collection of a | 20 |
| direct annual tax upon all the taxable property within
the | 21 |
| corporate limits of such Authority, sufficient to meet the | 22 |
| principal
and interest of the bonds as same mature, which tax | 23 |
| shall be in addition
to and in excess of any other tax | 24 |
| authorized to be levied by the
Authority.
The bonds may be | 25 |
| issued in part under the authority of, and may be
additionally | 26 |
| secured as provided in, the Local Government Debt Reform Act. |
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| Proceeds of bonds issued with respect to rail facilities or | 2 |
| related facilities shall be provided to, or expended by the | 3 |
| Authority for the benefit of, the Rail Authority.
| 4 |
| A certified copy of the ordinance providing for the | 5 |
| issuance of bonds
authorized by this Section shall be filed | 6 |
| with the county clerk of each
county in which the authority or | 7 |
| any portion thereof is situated and
shall constitute the basis | 8 |
| for the extension and collection of the tax
necessary to pay | 9 |
| the principal of and interest and premium, if any,
upon the | 10 |
| bonds issued under the ordinance as the same mature.
| 11 |
| The provisions of this amendatory Act of 1985 shall be | 12 |
| cumulative and in
addition to any powers or authority granted | 13 |
| in any other laws of the State,
and shall not be deemed to have | 14 |
| repealed any provisions of existing laws.
This amendatory Act | 15 |
| of 1985 shall be construed as a grant of power to public
| 16 |
| corporations and shall not act as a limitation upon any sale of | 17 |
| bonds
authorized pursuant to any other law. This amendatory Act | 18 |
| of 1985 shall
not be construed as a limit upon any home rule | 19 |
| unit of government.
| 20 |
| (Source: P.A. 86-1017; 87-854.)
| 21 |
| (70 ILCS 5/22.1 new) | 22 |
| Sec. 22.1. Establishment of a Rail Authority. | 23 |
| (a) The Board of Commissioners of an airport authority in a | 24 |
| county with a population of at least 200,000 persons and less | 25 |
| than 500,000 persons may, by resolution, establish a Rail |
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| Authority as provided in Sections 22.1 through 22.7 of this | 2 |
| Act. A certified copy of that resolution shall be filed with | 3 |
| the Secretary of State of Illinois. The Board of Commissioners | 4 |
| of the airport authority shall not have the power to abolish | 5 |
| such a Rail Authority. | 6 |
| (b) A Rail Authority established pursuant to this Section | 7 |
| shall be a body politic and corporate and a public corporation. | 8 |
| (c) A Rail Authority shall be governed by a Board of | 9 |
| Directors. Except as provided in paragraph (d) of this Section, | 10 |
| the Board of Directors shall consist of the members of the | 11 |
| Board of Commissioners of the airport authority that | 12 |
| establishes the Rail Authority. The Board of Directors of the | 13 |
| Rail Authority shall establish by-laws and procedures for their | 14 |
| actions and may elect such officers of the Rail Authority and | 15 |
| its Board of Directors as they shall determine, who shall serve | 16 |
| terms as set by the by-laws of the Rail Authority, not to | 17 |
| exceed 5 years. | 18 |
| (d) The composition of the Board of Directors of the Rail | 19 |
| Authority may be increased from time to time to include members | 20 |
| appointed by the Chairman or President of the County Board of | 21 |
| any county that has members on the Board of Directors, all as | 22 |
| shall be agreed by the Board of Directors of the Rail | 23 |
| Authority, the chairman of the county board of the county in | 24 |
| which the establishing airport authority is located, and the | 25 |
| county board of the county for which members shall be added; | 26 |
| upon such agreement providing for financial contribution to the |
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| Rail Authority by the county for which members are added. | 2 |
| (e) All non-procedural actions of the Board of Directors of | 3 |
| the Rail Authority shall require the concurrence of the | 4 |
| majority of members of the Board of Directors. Members of the | 5 |
| Board of Directors shall serve for terms as provided in the | 6 |
| by-laws of the Rail Authority not to exceed 5 years, and until | 7 |
| their successors are appointed and qualified. | 8 |
| (f) There shall be no prohibitions on members of the Board | 9 |
| of Directors of the Rail Authority holding any other | 10 |
| governmental office or position. | 11 |
| (70 ILCS 5/22.2 new) | 12 |
| Sec. 22.2. Provision of rail and related transportation | 13 |
| services. The Rail Authority shall also have the power to | 14 |
| provide non-rail transportation services within the Counties, | 15 |
| which may consist of shuttle bus service to or from an airport, | 16 |
| needed storage facilities, and facilities to load, unload, or | 17 |
| transfer freight from one mode of transportation to another | 18 |
| such mode related to rail or highway transportation and any | 19 |
| needed access roads for that service, as the Board of Directors | 20 |
| shall determine are appropriate to advance economic | 21 |
| development in the Counties. All property or facilities | 22 |
| necessary or useful for such related transportation or economic | 23 |
| development services are referred to in this Act as "related | 24 |
| facilities". The Authority, in providing rail related | 25 |
| facilities, may not operate or perform as a rail carrier. |
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| (70 ILCS 5/22.3 new) | 2 |
| Sec. 22.3. Further powers of the Rail Authority. | 3 |
| (a) Except as otherwise limited by this Act, the Rail | 4 |
| Authority shall have all powers to meet its responsibilities | 5 |
| and to carry out its purposes, including, but not limited to, | 6 |
| the following powers: | 7 |
| (i) To sue and be sued. | 8 |
| (ii) To invest any funds or any moneys not required for | 9 |
| immediate use or disbursement, as provided in the Public | 10 |
| Funds Investment Act. | 11 |
| (iii) To make, amend, and repeal by-laws, rules and | 12 |
| regulations, and resolutions not inconsistent with | 13 |
| Sections 22.1 through 22.7 of this Act. | 14 |
| (iv) To set and collect fares or other charges for the | 15 |
| use of rail or other facilities of the Rail Authority. | 16 |
| (v) To conduct or contract for studies as to the | 17 |
| feasibility and costs of providing any particular service | 18 |
| as authorized by this Act. | 19 |
| (vi) To publicize services of the Authority and to | 20 |
| enter into cooperative agreements with non-rail | 21 |
| transportation service providers, including airport | 22 |
| operations. | 23 |
| (vii) To hold, sell, sell by installment contract, | 24 |
| lease as lessor, transfer, or dispose of such real or | 25 |
| personal property of the Rail Authority, including rail |
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| facilities or related facilities, as the Board of Directors | 2 |
| deems appropriate in the exercise of its powers and to | 3 |
| mortgage, pledge, or otherwise grant security interests in | 4 |
| any such property. | 5 |
| (viii) To enter at reasonable times upon such lands, | 6 |
| waters, or premises as, in the judgment of the Board of | 7 |
| Directors of the Rail Authority, may be necessary, | 8 |
| convenient, or desirable for the purpose of making surveys, | 9 |
| soundings, borings, and examinations to accomplish any | 10 |
| purpose authorized by Sections 22.1 through 22.7 of this | 11 |
| Act after having given reasonable notice of such proposed | 12 |
| entry to the owners and occupants of such lands, waters, or | 13 |
| premises, the Rail Authority being liable only for actual | 14 |
| damage caused by such activity. | 15 |
| (ix) To enter into contracts of group insurance for the | 16 |
| benefit of its employees and to provide for retirement or | 17 |
| pensions or other employee benefit arrangements for such | 18 |
| employees, and to assume obligations for pensions or other | 19 |
| employee benefit arrangements for employees of | 20 |
| transportation agencies, all or part of the facilities of | 21 |
| which are acquired by the Rail Authority. | 22 |
| (x) To provide for the insurance of any property, | 23 |
| directors, officers, employees, or operations of the Rail | 24 |
| Authority against any risk or hazard, and to self-insure or | 25 |
| participate in joint self-insurance pools or entities to | 26 |
| insure against such risk or hazard. |
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| (xi) To pass all resolutions and make all rules and | 2 |
| regulations proper or necessary to regulate the use, | 3 |
| operation, and maintenance of the property and facilities | 4 |
| of the Rail Authority and, by resolution, to prescribe | 5 |
| fines or penalties for violations of those rules and | 6 |
| regulations. No fine or penalty shall exceed $1,000 per | 7 |
| offense. Any resolution providing for any fine or penalty | 8 |
| shall be published in a newspaper of general circulation in | 9 |
| the metropolitan region. No such resolution shall take | 10 |
| effect until 10 days after its publication. | 11 |
| (xii) To enter into arbitration arrangements, which | 12 |
| may be final and binding. | 13 |
| (xiii) To make and execute all contracts and other | 14 |
| instruments necessary or convenient to the exercise of its | 15 |
| powers. | 16 |
| (b) In each case in which this Act gives the Rail Authority | 17 |
| the power to construct or acquire rail facilities or related | 18 |
| facilities or any other real or personal property, the Rail | 19 |
| Authority shall have the power to acquire such property by | 20 |
| contract, purchase, gift, grant, exchange for other property or | 21 |
| rights in property, lease (or sublease), or installment or | 22 |
| conditional purchase contracts, which leases or contracts may | 23 |
| provide for consideration to be paid in installments during a | 24 |
| period not exceeding 40 years, and to dispose of such property | 25 |
| or rights by lease or sale as the Board of Directors shall | 26 |
| determine. Property may be acquired subject to such conditions, |
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| restrictions, liens, or security or other interests of other | 2 |
| parties as the Board of Directors may deem appropriate, and in | 3 |
| each case the Rail Authority may acquire a joint, leasehold, | 4 |
| easement, license, or other partial interest in such property. | 5 |
| Any such acquisition may provide for the assumption of, or | 6 |
| agreement to pay, perform, or discharge outstanding or | 7 |
| continuing duties, obligations, or liabilities of the seller, | 8 |
| lessor, donor, or other transferor of or of the trustee with | 9 |
| regard to such property. In connection with the acquisition of | 10 |
| Rail Facilities or Related Facilities, including, but not | 11 |
| limited to, vehicles, buses, or rapid transit equipment, the | 12 |
| Rail Authority may also execute agreements concerning such | 13 |
| equipment leases, equipment trust certificates, conditional | 14 |
| purchase agreements, and such other security agreements and may | 15 |
| make such agreements and covenants as required, in the form | 16 |
| customarily used in such cases appropriate to effect such | 17 |
| acquisition. The Rail Authority may not acquire property by | 18 |
| eminent domain. | 19 |
| (70 ILCS 5/22.4 new) | 20 |
| Sec. 22.4. Bonds and notes. | 21 |
| (a) The Rail Authority shall have the power to borrow money | 22 |
| and to issue its negotiable bonds or notes as provided in this | 23 |
| Section. Unless otherwise indicated in this Section, the term | 24 |
| "notes" also includes bond anticipation notes, which are notes | 25 |
| that by their terms provide for their payment from the proceeds |
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| of bonds subsequently to be issued. Bonds or notes of the Rail | 2 |
| Authority may be issued for any or all of the following | 3 |
| purposes: to pay costs to the Rail Authority of constructing or | 4 |
| acquiring any rail facilities or related facilities, to pay | 5 |
| interest on bonds or notes during any period of construction or | 6 |
| acquisition of rail facilities or related facilities, to | 7 |
| establish a debt service reserve fund, to pay costs of issuance | 8 |
| of the bonds or notes, and to refund its bonds or notes. | 9 |
| (b) The issuance of any bonds or notes shall be authorized | 10 |
| by a resolution of the Board of Directors of the Rail | 11 |
| Authority. The resolution providing for the issuance of any | 12 |
| such bonds or notes shall fix their date or dates of maturity, | 13 |
| the dates on which interest is payable, any sinking fund | 14 |
| account or reserve fund account provisions, and all other | 15 |
| details of the bonds or notes and may provide for such | 16 |
| covenants or agreements necessary or desirable with regard to | 17 |
| the issue, sale, and security of the bonds or notes. The rate | 18 |
| or rates of interest on the bonds or notes may be fixed or | 19 |
| variable and the Rail Authority shall determine or provide for | 20 |
| the determination of the rate or rates of interest of its bonds | 21 |
| or notes issued under this Act in a resolution adopted prior to | 22 |
| their issuance, none of which rates of interest shall exceed | 23 |
| that permitted in the Bond Authorization Act. Bonds and notes | 24 |
| issued under this Section may be issued as serial or term | 25 |
| obligations, shall be of such denomination or denominations and | 26 |
| form, shall be executed in such manner, shall be payable at |
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| such place or places and bear such date as the Rail Authority | 2 |
| shall fix by the resolution authorizing such bonds or notes and | 3 |
| shall mature at such time or times, within a period not to | 4 |
| exceed 40 years from their date of issue, and may be redeemable | 5 |
| prior to maturity, with or without premium, at the option of | 6 |
| the Rail Authority, upon such terms and conditions as the Rail | 7 |
| Authority shall fix by the resolution authorizing the issuance | 8 |
| of the bonds or notes. In case any officer whose signature | 9 |
| appears on any bonds or notes authorized pursuant to this | 10 |
| Section shall cease to be an officer before delivery of such | 11 |
| bonds or notes, the signature shall nevertheless be valid and | 12 |
| sufficient for all purposes, the same as if the officer had | 13 |
| remained in office until the delivery. | 14 |
| (c) Bonds or notes of the Rail Authority issued pursuant to | 15 |
| this Section shall have a claim for payment as to principal and | 16 |
| interest from such sources as provided by the resolution | 17 |
| authorizing such bonds or notes. Such bonds or notes shall be | 18 |
| secured as provided in the authorizing resolution of the Board | 19 |
| of Directors of the Rail Authority, which may, notwithstanding | 20 |
| any other provision of this Act, include in addition to any | 21 |
| other security, a specific pledge or assignment of and lien on | 22 |
| or security interest in any or all receipts of the Rail | 23 |
| Authority and on any or all other revenues or money of the Rail | 24 |
| Authority from whatever source, which may by law be utilized | 25 |
| for debt service purposes, as well as any funds or accounts | 26 |
| established or provided for the payment of such debt service, |
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| by the resolution of the Rail Authority authorizing the | 2 |
| issuance of the bonds or notes. Any such pledge, assignment, | 3 |
| lien, or security interest for the benefit of holders of bonds | 4 |
| or notes of the Rail Authority shall be valid and binding from | 5 |
| the time the bonds or notes are issued without any physical | 6 |
| delivery or further act and shall be valid and binding as | 7 |
| against and prior to the claims of all other parties having | 8 |
| claims of any kind against the Rail Authority or any other | 9 |
| person irrespective of whether such other parties have notice | 10 |
| of such pledge, assignment, lien, or security interest. The | 11 |
| resolution of the Board of Directors of the Rail Authority | 12 |
| authorizing the issuance of any bonds or notes may provide | 13 |
| additional security for such bonds or notes by providing for | 14 |
| appointment of a corporate trustee (which may be any trust | 15 |
| company or bank having the powers of a trust company within | 16 |
| Illinois) with respect to the bonds or notes. The resolution | 17 |
| shall prescribe the rights, duties, and powers of the trustee | 18 |
| to be exercised for the benefit of the Rail Authority and the | 19 |
| protection of the owners of such bonds or notes. The resolution | 20 |
| may provide for the trustee to hold in trust, invest, and use | 21 |
| amounts in funds and accounts created as provided by the | 22 |
| resolution with respect to the bonds or notes. | 23 |
| (70 ILCS 5/22.6 new) | 24 |
| Sec. 22.6. Exemption from taxation. The Rail Authority and | 25 |
| the Rail Corporation shall be exempt from all State and unit of |
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| local government taxes and registration and license fees. All | 2 |
| property of the Rail Authority or of the Rail Corporation shall | 3 |
| be public property devoted to an essential public and | 4 |
| governmental function and purpose and shall be exempt from all | 5 |
| taxes and special assessments of the State, any subdivision of | 6 |
| the State, or any unit of local government. | 7 |
| (70 ILCS 5/22.7 new) | 8 |
| Sec. 22.7. Federal, State, and other funds. The Rail | 9 |
| Authority shall have the power to apply for, receive, and | 10 |
| expend grants, loans, or other funds from the State of Illinois | 11 |
| or any of its departments or agencies, from any unit of local | 12 |
| government, or from the federal government or any of its | 13 |
| departments or agencies, for use in connection with any of the | 14 |
| powers or purposes of the Rail Authority as set forth in this | 15 |
| Act, and to enter into agreements with the lending or granting | 16 |
| agency in connection with any such loan or grant.
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| Section 99. Effective date. This Act takes effect upon | 18 |
| becoming law.".
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