Full Text of HB2400 96th General Assembly
HB2400sam001 96TH GENERAL ASSEMBLY
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Sen. John J. Cullerton
Filed: 5/20/2009
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LRB096 09379 RCE 27182 a |
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| AMENDMENT TO HOUSE BILL 2400
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| AMENDMENT NO. ______. Amend House Bill 2400 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The State Finance Act is amended by adding | 5 |
| Section 6z-78 as follows: | 6 |
| (30 ILCS 105/6z-78 new)
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| Sec. 6z-78. Capital Projects Fund; bonded indebtedness; | 8 |
| transfers. Money in the Capital Projects Fund shall, if and | 9 |
| when the State of Illinois incurs any bonded indebtedness using | 10 |
| the bond authorization enacted in this amendatory Act of the | 11 |
| 96th General Assembly, be set aside and used for the purpose of | 12 |
| paying and discharging annually the principal and interest on | 13 |
| that bonded indebtedness then due and payable. | 14 |
| In addition to other transfers to the General Obligation | 15 |
| Bond Retirement and Interest Fund made pursuant to Section 15 | 16 |
| of the General Obligation Bond Act, upon each delivery of |
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| general obligation bonds using bond authorization enacted in | 2 |
| this amendatory Act of the 96th General Assembly the State | 3 |
| Comptroller shall compute and certify to the State Treasurer | 4 |
| the total amount of principal of, interest on, and premium, if | 5 |
| any, on such bonds during the then current and each succeeding | 6 |
| fiscal year. With respect to the interest payable on variable | 7 |
| rate bonds, such certifications shall be calculated at the | 8 |
| maximum rate of interest that may be payable during the fiscal | 9 |
| year, after taking into account any credits permitted in the | 10 |
| related indenture or other instrument against the amount of | 11 |
| such interest required to be appropriated for the period. | 12 |
| On or before the last day of each month, the State | 13 |
| Treasurer and State Comptroller shall transfer from the Capital | 14 |
| Projects Fund to the General Obligation Bond Retirement and | 15 |
| Interest Fund an amount sufficient to pay the aggregate of the | 16 |
| principal of, interest on, and premium, if any, on the bonds | 17 |
| payable on their next payment date, divided by the number of | 18 |
| monthly transfers occurring between the last previous payment | 19 |
| date (or the delivery date if no payment date has yet occurred) | 20 |
| and the next succeeding payment date. Interest payable on | 21 |
| variable rate bonds shall be calculated at the maximum rate of | 22 |
| interest that may be payable for the relevant period, after | 23 |
| taking into account any credits permitted in the related | 24 |
| indenture or other instrument against the amount of such | 25 |
| interest required to be appropriated for that period. Interest | 26 |
| for which moneys have already been deposited into the |
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| capitalized interest account within the General Obligation | 2 |
| Bond Retirement and Interest Fund shall not be included in the | 3 |
| calculation of the amounts to be transferred under this | 4 |
| subsection. | 5 |
| In addition to other transfers to the Build Illinois Bond | 6 |
| Retirement and Interest Fund made pursuant to the Build | 7 |
| Illinois Bond Act, upon each delivery of Build Illinois bonds | 8 |
| using bond authorization enacted in this amendatory Act of the | 9 |
| 96th General Assembly the State Comptroller shall compute and | 10 |
| certify to the State Treasurer the total amount of principal | 11 |
| of, interest on, and premium, if any, on such bonds during the | 12 |
| then current and each succeeding fiscal year. With respect to | 13 |
| the interest payable on variable rate bonds, such | 14 |
| certifications shall be calculated at the maximum rate of | 15 |
| interest that may be payable during the fiscal year, after | 16 |
| taking into account any credits permitted in the related | 17 |
| indenture or other instrument against the amount of such | 18 |
| interest required to be appropriated for the period. | 19 |
| On or before the last day of each month, the State | 20 |
| Treasurer and State Comptroller shall transfer from the Capital | 21 |
| Projects Fund to the Build Illinois Bond Retirement and | 22 |
| Interest Fund an amount sufficient to pay the aggregate of the | 23 |
| principal of, interest on, and premium, if any, on the bonds | 24 |
| payable on their next payment date, divided by the number of | 25 |
| monthly transfers occurring between the last previous payment | 26 |
| date (or the delivery date if no payment date has yet occurred) |
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| and the next succeeding payment date. Interest payable on | 2 |
| variable rate bonds shall be calculated at the maximum rate of | 3 |
| interest that may be payable for the relevant period, after | 4 |
| taking into account any credits permitted in the related | 5 |
| indenture or other instrument against the amount of such | 6 |
| interest required to be appropriated for that period. Interest | 7 |
| for which moneys have already been deposited into the | 8 |
| capitalized interest account within the Build Illinois Bond | 9 |
| Retirement and Interest Fund shall not be included in the | 10 |
| calculation of the amounts to be transferred under this | 11 |
| subsection. | 12 |
| Section 10. The General Obligation Bond Act is amended by | 13 |
| changing Sections 2, 3, 4, 5, 6, and 12 as follows:
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| (30 ILCS 330/2) (from Ch. 127, par. 652)
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| Sec. 2. Authorization for Bonds. The State of Illinois is | 16 |
| authorized to
issue, sell and provide for the retirement of | 17 |
| General Obligation Bonds of
the State of Illinois for the | 18 |
| categories and specific purposes expressed in
Sections 2 | 19 |
| through 8 of this Act, in the total amount of $33,501,777,443 | 20 |
| $30,693,149,369 .
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| The bonds authorized in this Section 2 and in Section 16 of | 22 |
| this Act are
herein called "Bonds".
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| Of the total amount of Bonds authorized in this Act, up to | 24 |
| $2,200,000,000
in aggregate original principal amount may be |
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| issued and sold in accordance
with the Baccalaureate Savings | 2 |
| Act in the form of General Obligation
College Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, up to | 4 |
| $300,000,000 in
aggregate original principal amount may be | 5 |
| issued and sold in accordance
with the Retirement Savings Act | 6 |
| in the form of General Obligation
Retirement Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, the | 8 |
| additional
$10,000,000,000 authorized by this amendatory Act | 9 |
| of the 93rd General
Assembly shall be used solely as provided | 10 |
| in Section 7.2.
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| The issuance and sale of Bonds pursuant to the General | 12 |
| Obligation Bond
Act is an economical and efficient method of | 13 |
| financing the long-term capital needs of
the State. This Act | 14 |
| will permit the issuance of a multi-purpose General
Obligation | 15 |
| Bond with uniform terms and features. This will not only lower
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| the cost of registration but also reduce the overall cost of | 17 |
| issuing debt
by improving the marketability of Illinois General | 18 |
| Obligation Bonds.
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| (Source: P.A. 95-1026, eff. 1-12-09; 96-5, eff. 4-3-09.)
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| (30 ILCS 330/3) (from Ch. 127, par. 653)
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| Sec. 3. Capital Facilities. The amount of $7,968,463,443 | 22 |
| $7,320,235,369 is authorized
to be used for the acquisition, | 23 |
| development, construction, reconstruction,
improvement, | 24 |
| financing, architectural planning and installation of capital
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| facilities within the State, consisting of buildings, |
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| structures, durable
equipment, land, and interests in land for | 2 |
| the following specific purposes:
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| (a) $2,511,228,000 $2,211,228,000 for educational | 4 |
| purposes by
State universities and
colleges, the Illinois | 5 |
| Community College Board created by the Public
Community | 6 |
| College Act and for grants to public community colleges as
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| authorized by Sections 5-11 and 5-12 of the Public | 8 |
| Community College Act;
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| (b) $1,617,420,000 $1,607,420,000 for correctional | 10 |
| purposes at
State
prison and correctional centers;
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| (c) $575,183,000 $531,175,000 for open spaces, | 12 |
| recreational and
conservation purposes and the protection | 13 |
| of land;
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| (d) $664,917,000 $589,917,000 for child care | 15 |
| facilities, mental
and public health facilities, and | 16 |
| facilities for the care of disabled
veterans and their | 17 |
| spouses;
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| (e) $1,630,990,000 $1,455,990,000 for use by the | 19 |
| State, its
departments, authorities, public corporations, | 20 |
| commissions and agencies;
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| (f) $818,100 for cargo handling facilities at port | 22 |
| districts and for
breakwaters, including harbor entrances, | 23 |
| at port districts in conjunction
with facilities for small | 24 |
| boats and pleasure crafts;
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| (g) $248,877,074 $204,657,000 for water resource | 26 |
| management
projects;
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| (h) $16,940,269 for the provision of facilities for | 2 |
| food production
research and related instructional and | 3 |
| public service activities at the
State universities and | 4 |
| public community colleges;
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| (i) $36,000,000 for grants by the Secretary of State, | 6 |
| as
State
Librarian, for central library facilities | 7 |
| authorized by Section 8
of the Illinois Library System Act | 8 |
| and for grants by the Capital
Development Board to units of | 9 |
| local government for public library
facilities;
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| (j) $25,000,000 for the acquisition, development, | 11 |
| construction,
reconstruction, improvement, financing, | 12 |
| architectural planning and
installation of capital | 13 |
| facilities consisting of buildings, structures,
durable | 14 |
| equipment and land for grants to counties, municipalities | 15 |
| or public
building commissions with correctional | 16 |
| facilities that do not comply with
the minimum standards of | 17 |
| the Department of Corrections under Section 3-15-2
of the | 18 |
| Unified Code of Corrections;
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| (k) $5,000,000 for grants in fiscal year 1988 by the | 20 |
| Department of
Conservation for improvement or expansion of | 21 |
| aquarium facilities located on
property owned by a park | 22 |
| district;
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| (l) $432,590,000 to State agencies for grants to
local | 24 |
| governments for
the acquisition, financing, architectural | 25 |
| planning, development, alteration,
installation, and | 26 |
| construction of capital facilities consisting of |
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| buildings,
structures, durable equipment, and land; and
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| (m) $203,500,000 for the Illinois Open Land Trust
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| Program
as defined by the
Illinois Open Land Trust Act.
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| The amounts authorized above for capital facilities may be | 5 |
| used
for the acquisition, installation, alteration, | 6 |
| construction, or
reconstruction of capital facilities and for | 7 |
| the purchase of equipment
for the purpose of major capital | 8 |
| improvements which will reduce energy
consumption in State | 9 |
| buildings or facilities.
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| (Source: P.A. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710, eff. | 11 |
| 5-17-00;
92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/4) (from Ch. 127, par. 654)
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| Sec. 4. Transportation. The amount of $9,948,799,000 | 14 |
| $8,313,399,000
is authorized for use by the Department of | 15 |
| Transportation for the specific
purpose of promoting and | 16 |
| assuring rapid, efficient, and safe highway, air and
mass | 17 |
| transportation for the inhabitants of the State by providing | 18 |
| monies,
including the making of grants and loans, for the | 19 |
| acquisition, construction,
reconstruction, extension and | 20 |
| improvement of the following transportation
facilities and | 21 |
| equipment, and for the acquisition of real property and
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| interests in real property required or expected to be required | 23 |
| in connection
therewith as follows:
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| (a) $5,432,129,000 for State highways, arterial
highways, | 25 |
| freeways,
roads, bridges, structures separating highways and |
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| railroads and roads, and
bridges on roads maintained by | 2 |
| counties, municipalities, townships or road
districts for the | 3 |
| following specific purposes:
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| (1) $3,330,000,000 for use statewide,
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| (2) $3,677,000 for use outside the Chicago urbanized
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| area,
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| (3) $7,543,000 for use within the Chicago urbanized | 8 |
| area,
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| (4) $13,060,600 for use within the City of Chicago,
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| (5) $58,987,500 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (6) $18,860,900 for use outside the counties of Cook, | 13 |
| DuPage, Kane,
Lake, McHenry and Will, and
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| (7) $2,000,000,000 for use on projects included in | 15 |
| either (i) the FY09-14 Proposed Highway Improvement | 16 |
| Program as published by the Illinois Department of | 17 |
| Transportation in May 2008 or (ii) the FY10-15 Proposed | 18 |
| Highway Improvement Program to be published by the Illinois | 19 |
| Department of Transportation in the spring of 2009; except | 20 |
| that all projects must be maintenance projects for the | 21 |
| existing State system with the goal of reaching 90% | 22 |
| acceptable condition in the system statewide and further | 23 |
| except that all projects must reflect the generally | 24 |
| accepted historical distribution of projects throughout | 25 |
| the State. | 26 |
| (b) $3,130,070,000 $2,529,670,000 for rail facilities and |
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| for
mass transit facilities, as defined in Section 2705-305 of | 2 |
| the Department of
Transportation Law (20 ILCS 2705/2705-305), | 3 |
| including rapid transit, rail, bus
and other equipment used in | 4 |
| connection therewith by the State or any unit of
local | 5 |
| government, special transportation district, municipal | 6 |
| corporation or
other corporation or public authority | 7 |
| authorized to provide and promote public
transportation within | 8 |
| the State or two or more of the foregoing jointly, for
the | 9 |
| following specific purposes:
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| (1) $2,034,270,000 $1,433,870,000 statewide,
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| (2) $83,350,000 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (3) $12,450,000 for use outside the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will, and
| 15 |
| (4) $1,000,000,000 for use on projects that shall | 16 |
| reflect the generally accepted historical distribution of | 17 |
| projects throughout the State. | 18 |
| (c) $371,600,000 $351,600,000 for airport or aviation | 19 |
| facilities and any equipment used
in connection therewith, | 20 |
| including engineering and land acquisition costs,
by the State | 21 |
| or any unit of local government, special transportation | 22 |
| district,
municipal corporation or other corporation or public | 23 |
| authority authorized
to provide public transportation within | 24 |
| the State, or two or more of the
foregoing acting jointly, and | 25 |
| for the making of deposits into the Airport
Land Loan Revolving | 26 |
| Fund for loans to public airport owners pursuant to the
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| Illinois Aeronautics Act.
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| (d) $1,015,000,000 for use statewide for State highways, | 3 |
| arterial highways, freeways, roads, bridges, structures | 4 |
| separating highways and railroads and roads, and bridges on | 5 |
| roads maintained by counties, municipalities, townships, or | 6 |
| road districts. | 7 |
| (Source: P.A. 96-5, eff. 4-3-09.)
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| (30 ILCS 330/5) (from Ch. 127, par. 655)
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| Sec. 5. School Construction.
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| (a) The amount of $58,450,000 is authorized to
make grants | 11 |
| to local school
districts for the acquisition, development, | 12 |
| construction, reconstruction,
rehabilitation, improvement, | 13 |
| financing, architectural planning and
installation of capital | 14 |
| facilities, including but not limited to those
required for | 15 |
| special
education building projects provided for in Article 14 | 16 |
| of The School Code,
consisting of buildings, structures, and | 17 |
| durable equipment, and for the
acquisition and improvement of | 18 |
| real property and interests in real property
required, or | 19 |
| expected to be required, in connection therewith.
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| (b) $22,550,000, or so much thereof as may be necessary, | 21 |
| for grants to
school districts for the making of principal and | 22 |
| interest payments, required
to be made, on bonds issued by such | 23 |
| school districts after January 1, 1969,
pursuant to any | 24 |
| indenture, ordinance, resolution, agreement or contract
to | 25 |
| provide funds for the acquisition, development, construction,
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| reconstruction, rehabilitation, improvement, architectural | 2 |
| planning and installation of
capital facilities consisting of | 3 |
| buildings, structures, durable equipment
and land for | 4 |
| educational purposes or for lease payments required to be made
| 5 |
| by a school district for principal and interest payments on | 6 |
| bonds issued
by a Public Building Commission after January 1, | 7 |
| 1969.
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| (c) $10,000,000 for grants to school districts for the | 9 |
| acquisition,
development, construction, reconstruction, | 10 |
| rehabilitation, improvement,
architectural
planning and | 11 |
| installation of capital facilities consisting of buildings
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| structures, durable equipment and land for special education | 13 |
| building projects.
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| (d) $9,000,000 for grants to school districts for the | 15 |
| reconstruction,
rehabilitation, improvement, financing and | 16 |
| architectural planning of capital
facilities, including | 17 |
| construction at another location to replace such capital
| 18 |
| facilities, consisting of those public school buildings and | 19 |
| temporary school
facilities which, prior to January 1, 1984, | 20 |
| were condemned by the regional
superintendent under Section | 21 |
| 3-14.22 of The School Code or by any State
official having | 22 |
| jurisdiction over building safety.
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| (e) $3,050,000,000 for grants to school districts for
| 24 |
| school improvement
projects authorized by the School | 25 |
| Construction Law. The bonds shall be sold in
amounts not to | 26 |
| exceed the following schedule, except any bonds not sold during
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| one year shall be added to the bonds to be sold during the | 2 |
| remainder of the
schedule:
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| First year ..................................$200,000,000
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| Second year .................................$450,000,000
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| Third year ..................................$500,000,000
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| Fourth year .................................$500,000,000
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| Fifth year ..................................$800,000,000
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| Sixth year and thereafter ...................$600,000,000
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| (f) $420,000,000 grants to school districts for school | 10 |
| implemented projects authorized by the School Construction | 11 |
| Law. | 12 |
| (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/6) (from Ch. 127, par. 656)
| 14 |
| Sec. 6. Anti-Pollution.
| 15 |
| (a) The amount of $369,815,000 $319,815,000 is authorized | 16 |
| for
allocation by the
Environmental Protection Agency for | 17 |
| grants or loans to units of local
government in such amounts, | 18 |
| at such times and for such purpose as the Agency
deems | 19 |
| necessary or desirable for the planning, financing, and | 20 |
| construction of
municipal sewage treatment works and solid | 21 |
| waste disposal facilities and for
making of deposits into the | 22 |
| Water Revolving Fund and
the U.S. Environmental Protection Fund | 23 |
| to provide assistance in accordance
with the provisions of | 24 |
| Title IV-A of the Environmental Protection Act.
| 25 |
| (b) The amount of $215,500,000 $160,500,000 is authorized |
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| for allocation by the
Environmental Protection Agency for | 2 |
| payment of claims submitted to the State
and approved for | 3 |
| payment under the Leaking Underground Storage Tank Program
| 4 |
| established in Title XVI of the Environmental Protection Act.
| 5 |
| (Source: P.A. 92-13, eff. 6-22-01; 92-598, eff. 6-28-02; | 6 |
| 93-650, eff. 1-8-04.)
| 7 |
| (30 ILCS 330/12) (from Ch. 127, par. 662)
| 8 |
| Sec. 12. Allocation of Proceeds from Sale of Bonds.
| 9 |
| (a) Proceeds from the sale of Bonds, authorized by Section | 10 |
| 3 of this Act,
shall be deposited in the separate fund known as | 11 |
| the Capital Development Fund.
| 12 |
| (b) Proceeds from the sale of Bonds, authorized by | 13 |
| paragraph (a) of Section
4 of this Act, shall be deposited in | 14 |
| the separate fund known as the
Transportation Bond, Series A | 15 |
| Fund.
| 16 |
| (c) Proceeds from the sale of Bonds, authorized by | 17 |
| paragraphs (b) and (c)
of Section 4 of this Act, shall be | 18 |
| deposited in the separate fund known
as the Transportation | 19 |
| Bond, Series B Fund.
| 20 |
| (c-1) Proceeds from the sale of Bonds, authorized by | 21 |
| paragraph (d) of Section 4 of this Act, shall be deposited into | 22 |
| the Transportation Bond Series D Fund, which is hereby created. | 23 |
| (d) Proceeds from the sale of Bonds, authorized by Section | 24 |
| 5 of this
Act, shall be deposited in the separate fund known as | 25 |
| the School Construction
Fund.
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| (e) Proceeds from the sale of Bonds, authorized by Section | 2 |
| 6 of this Act,
shall be deposited in the separate fund known as | 3 |
| the Anti-Pollution Fund.
| 4 |
| (f) Proceeds from the sale of Bonds, authorized by Section | 5 |
| 7 of this Act,
shall be deposited in the separate fund known as | 6 |
| the Coal Development Fund.
| 7 |
| (f-2) Proceeds from the sale of Bonds, authorized by | 8 |
| Section 7.2 of this
Act, shall be deposited as set forth in | 9 |
| Section 7.2.
| 10 |
| (f-5) Proceeds from the sale of Bonds, authorized by | 11 |
| Section 7.5 of this
Act, shall be deposited as set forth in | 12 |
| Section 7.5.
| 13 |
| (g) Proceeds from the sale of Bonds, authorized by Section | 14 |
| 8 of this Act,
shall be deposited in
the Capital Development | 15 |
| Fund.
| 16 |
| (h) Subsequent to the issuance of any Bonds for the | 17 |
| purposes described
in Sections 2 through 8 of this Act, the | 18 |
| Governor and the Director of the
Governor's Office of | 19 |
| Management and Budget may provide for the reallocation of | 20 |
| unspent proceeds
of such Bonds to any other purposes authorized | 21 |
| under said Sections of this
Act, subject to the limitations on | 22 |
| aggregate principal amounts contained
therein. Upon any such | 23 |
| reallocation, such unspent proceeds shall be
transferred to the | 24 |
| appropriate funds as determined by reference to
paragraphs (a) | 25 |
| through (g) of this Section.
| 26 |
| (Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
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| Section 15. The Build Illinois Bond Act is amended by | 2 |
| changing Sections 2, 4, and 13 as follows:
| 3 |
| (30 ILCS 425/2) (from Ch. 127, par. 2802)
| 4 |
| Sec. 2. Authorization for Bonds. The State of Illinois is
| 5 |
| authorized to issue, sell and provide for the retirement of | 6 |
| limited
obligation bonds, notes and other evidences of | 7 |
| indebtedness of the State of
Illinois in the total principal | 8 |
| amount of $4,615,509,000 $3,805,509,000
herein called "Bonds". | 9 |
| Such authorized amount of Bonds shall
be reduced from time to | 10 |
| time by amounts, if any, which are equal to the
moneys received | 11 |
| by the Department of Revenue in any fiscal year pursuant to
| 12 |
| Section 3-1001 of the "Illinois Vehicle Code", as amended, in | 13 |
| excess of the
Annual Specified Amount (as defined in Section 3 | 14 |
| of the "Retailers'
Occupation Tax Act", as amended) and | 15 |
| transferred at the end of such fiscal
year from the General | 16 |
| Revenue Fund to the Build Illinois Purposes Fund (now | 17 |
| abolished) as
provided in Section 3-1001 of said Code; | 18 |
| provided, however, that no such
reduction shall affect the | 19 |
| validity or enforceability of any Bonds issued
prior to such | 20 |
| reduction. Such amount of authorized Bonds
shall be exclusive | 21 |
| of any refunding Bonds issued pursuant to Section 15 of
this | 22 |
| Act and exclusive of any Bonds issued pursuant to this Section | 23 |
| which
are redeemed, purchased, advance refunded, or defeased in | 24 |
| accordance with
paragraph (f) of Section 4 of this Act. Bonds |
|
|
|
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LRB096 09379 RCE 27182 a |
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| 1 |
| shall be issued for the
categories and specific purposes | 2 |
| expressed in Section 4 of this Act.
| 3 |
| (Source: P.A. 94-91, eff. 7-1-05.)
| 4 |
| (30 ILCS 425/4) (from Ch. 127, par. 2804)
| 5 |
| Sec. 4. Purposes of Bonds. Bonds shall be issued for the | 6 |
| following
purposes and in the approximate amounts as set forth | 7 |
| below:
| 8 |
| (a) $2,917,000,000 $2,417,000,000 for the expenses of | 9 |
| issuance and
sale of Bonds, including bond discounts, and for | 10 |
| planning, engineering,
acquisition, construction, | 11 |
| reconstruction, development, improvement and
extension of the | 12 |
| public infrastructure in the State of Illinois, including: the
| 13 |
| making of loans or grants to local governments for waste | 14 |
| disposal systems,
water and sewer line extensions and water | 15 |
| distribution and purification
facilities, rail or air or water | 16 |
| port improvements, gas and electric utility
extensions, | 17 |
| publicly owned industrial and commercial sites, buildings
used | 18 |
| for public administration purposes and other public | 19 |
| infrastructure capital
improvements; the making of loans or | 20 |
| grants to units of local government
for financing and | 21 |
| construction of wastewater facilities; refinancing or
retiring | 22 |
| bonds issued between January 1, 1987 and January 1,
1990 by | 23 |
| home rule municipalities, debt service on which is provided | 24 |
| from a
tax imposed by home rule municipalities prior to January | 25 |
| 1, 1990 on the
sale of food and drugs pursuant to Section |
|
|
|
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| 8-11-1 of the Home Rule
Municipal Retailers' Occupation Tax Act | 2 |
| or Section 8-11-5 of the Home
Rule Municipal Service Occupation | 3 |
| Tax Act; the making of deposits not
to exceed $70,000,000 in | 4 |
| the aggregate into
the Water Pollution Control Revolving Fund | 5 |
| to provide assistance in
accordance with the provisions of | 6 |
| Title IV-A of the Environmental
Protection Act; the planning, | 7 |
| engineering, acquisition,
construction, reconstruction, | 8 |
| alteration, expansion, extension and
improvement of highways, | 9 |
| bridges, structures separating highways and
railroads, rest | 10 |
| areas, interchanges, access
roads to and from any State or | 11 |
| local highway and other transportation
improvement projects | 12 |
| which are related to
economic development activities; the | 13 |
| making of loans or grants for
planning, engineering, | 14 |
| rehabilitation, improvement or construction of rail
and | 15 |
| transit facilities; the planning, engineering, acquisition,
| 16 |
| construction, reconstruction and improvement of watershed, | 17 |
| drainage, flood
control, recreation and related improvements | 18 |
| and facilities, including
expenses related to land and easement | 19 |
| acquisition, relocation, control
structures, channel work and | 20 |
| clearing and appurtenant work; the making of
grants for | 21 |
| improvement and development of zoos and park district field
| 22 |
| houses and related structures; and the making of grants for | 23 |
| improvement and
development of Navy Pier and related | 24 |
| structures.
| 25 |
| (b) $196,000,000 $186,000,000 for fostering economic | 26 |
| development and
increased employment and the well being of the |
|
|
|
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| citizens of Illinois, including:
the making of grants for | 2 |
| improvement and development of McCormick Place and
related | 3 |
| structures; the
planning and construction of a | 4 |
| microelectronics research center, including
the planning, | 5 |
| engineering, construction, improvement, renovation and
| 6 |
| acquisition of buildings, equipment and related utility | 7 |
| support systems;
the making of loans to businesses and | 8 |
| investments in small businesses;
acquiring real properties for | 9 |
| industrial or commercial site development;
acquiring, | 10 |
| rehabilitating and reconveying industrial and commercial
| 11 |
| properties for the purpose of expanding employment and | 12 |
| encouraging private
and other public sector investment in the | 13 |
| economy of Illinois; the payment
of expenses associated with | 14 |
| siting the Superconducting Super Collider Particle
Accelerator | 15 |
| in Illinois and with its acquisition, construction,
| 16 |
| maintenance, operation, promotion and support; the making of | 17 |
| loans for the
planning, engineering, acquisition, | 18 |
| construction, improvement and
conversion of facilities and | 19 |
| equipment which will foster the use of
Illinois coal; the | 20 |
| payment of expenses associated with the
promotion, | 21 |
| establishment, acquisition and operation of small business
| 22 |
| incubator facilities and agribusiness research facilities, | 23 |
| including the lease,
purchase, renovation, planning, | 24 |
| engineering, construction and maintenance of
buildings, | 25 |
| utility support systems and equipment designated for such
| 26 |
| purposes and the establishment and maintenance of centralized |
|
|
|
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| support
services within such facilities; and the making of | 2 |
| grants or loans to
units of local government for Urban | 3 |
| Development Action Grant and Housing
Partnership programs.
| 4 |
| (c) $1,352,358,100 $1,052,358,100 for the development and
| 5 |
| improvement of educational,
scientific, technical and | 6 |
| vocational programs and facilities and the
expansion of health | 7 |
| and human services for all citizens of Illinois,
including: the | 8 |
| making of construction and improvement grants and loans
to | 9 |
| public libraries
and library systems; the making of grants and | 10 |
| loans for planning,
engineering, acquisition and construction
| 11 |
| of a new State central library in Springfield; the planning, | 12 |
| engineering,
acquisition and construction of an animal and | 13 |
| dairy sciences facility; the
planning, engineering, | 14 |
| acquisition and construction of a campus and all
related | 15 |
| buildings, facilities, equipment and materials for Richland
| 16 |
| Community College; the acquisition, rehabilitation and | 17 |
| installation of
equipment and materials for scientific and | 18 |
| historical surveys; the making of
grants or loans for | 19 |
| distribution to eligible vocational education instructional
| 20 |
| programs for the upgrading of vocational education programs, | 21 |
| school shops
and laboratories, including the acquisition, | 22 |
| rehabilitation and
installation of technical equipment and | 23 |
| materials; the making of grants or
loans for distribution to | 24 |
| eligible local educational agencies for the
upgrading of math | 25 |
| and science instructional programs, including the
acquisition | 26 |
| of instructional equipment and materials; miscellaneous |
|
|
|
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| capital
improvements for universities and community colleges | 2 |
| including the
planning, engineering,
construction, | 3 |
| reconstruction, remodeling, improvement, repair and
| 4 |
| installation of capital facilities and costs of planning, | 5 |
| supplies,
equipment, materials, services, and all other | 6 |
| required expenses; the
making of grants or loans for repair, | 7 |
| renovation and miscellaneous capital
improvements for | 8 |
| privately operated colleges and universities and community
| 9 |
| colleges, including the planning, engineering, acquisition, | 10 |
| construction,
reconstruction, remodeling,
improvement, repair | 11 |
| and installation of capital facilities and costs of
planning, | 12 |
| supplies, equipment, materials, services, and all other | 13 |
| required
expenses; and the making of grants or loans for | 14 |
| distribution to local
governments for hospital and other health | 15 |
| care facilities including the
planning, engineering, | 16 |
| acquisition, construction, reconstruction,
remodeling, | 17 |
| improvement, repair and installation of capital facilities and
| 18 |
| costs of planning, supplies, equipment, materials, services | 19 |
| and all other
required expenses.
| 20 |
| (d) $150,150,900 for protection, preservation,
restoration | 21 |
| and conservation of environmental and natural resources,
| 22 |
| including: the making of grants to soil and water conservation | 23 |
| districts
for the planning and implementation of conservation | 24 |
| practices and for
funding contracts with the Soil Conservation | 25 |
| Service for watershed
planning; the making of grants to units | 26 |
| of local government for the
capital development and improvement |
|
|
|
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| of recreation areas, including
planning and engineering costs, | 2 |
| sewer projects, including planning and
engineering costs and | 3 |
| water projects, including planning
and engineering costs, and | 4 |
| for the acquisition of open space lands,
including the | 5 |
| acquisition of easements and other property interests of less
| 6 |
| than fee simple ownership; the acquisition and related costs | 7 |
| and development
and management of natural heritage lands, | 8 |
| including natural areas and areas
providing habitat for
| 9 |
| endangered species and nongame wildlife, and buffer area lands; | 10 |
| the
acquisition and related costs and development and | 11 |
| management of
habitat lands, including forest, wildlife | 12 |
| habitat and wetlands;
and the removal and disposition of | 13 |
| hazardous substances, including the cost of
project | 14 |
| management, equipment, laboratory analysis, and contractual | 15 |
| services
necessary for preventative and corrective actions | 16 |
| related to the preservation,
restoration and conservation of | 17 |
| the environment, including deposits not to
exceed $60,000,000 | 18 |
| in the aggregate into the Hazardous Waste Fund and the
| 19 |
| Brownfields Redevelopment Fund for improvements in accordance | 20 |
| with the
provisions of Titles V and XVII of the Environmental | 21 |
| Protection Act.
| 22 |
| (e) The amount specified in paragraph (a) above
shall | 23 |
| include an amount necessary to pay reasonable expenses of each
| 24 |
| issuance and sale of the Bonds, as specified in the related | 25 |
| Bond Sale Order
(hereinafter defined).
| 26 |
| (f) Any unexpended proceeds from any sale of
Bonds which |
|
|
|
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| are held in the Build Illinois Bond Fund may be used to redeem,
| 2 |
| purchase, advance refund, or defease any Bonds outstanding.
| 3 |
| (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 91-709, | 4 |
| eff.
5-17-00; 92-9, eff. 6-11-01; 92-598, eff. 6-28-02.)
| 5 |
| (30 ILCS 425/13) (from Ch. 127, par. 2813)
| 6 |
| Sec. 13. Computation of Principal and Interest; Transfer | 7 |
| from Build
Illinois Bond Account; Payment from Build Illinois | 8 |
| Bond Retirement and
Interest Fund. Upon each delivery of Bonds | 9 |
| authorized to be issued under
this Act, the trustee under the | 10 |
| Master Indenture shall compute and certify
to the Director of | 11 |
| the
Governor's Office of Management and Budget, the Comptroller | 12 |
| and the
Treasurer (a) the total amount of the principal of and | 13 |
| the interest and
the premium, if
any, on the Bonds then being | 14 |
| issued and on Bonds previously issued and
outstanding that will | 15 |
| be payable in order to retire such Bonds
at their stated | 16 |
| maturities or mandatory sinking fund payment dates and (b)
the | 17 |
| amount of principal of and interest and premium, if any, on | 18 |
| such Bonds
that will be payable on each principal, interest and | 19 |
| mandatory sinking fund
payment date according to the tenor of | 20 |
| such Bonds during the then current
and each succeeding fiscal | 21 |
| year. Such certifications shall include with
respect to | 22 |
| interest payable on Variable Rate Bonds the maximum amount of
| 23 |
| interest which may be payable for the relevant period after | 24 |
| taking into
account any credits permitted in the related | 25 |
| indenture against the amount
of such interest required to be |
|
|
|
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| appropriated for such period pursuant to
subsection (c) of | 2 |
| Section 11 of this Act.
| 3 |
| On or before June 20, 1993 and on or before each June 20 | 4 |
| thereafter so
long as Bonds remain outstanding, the trustee | 5 |
| under the Master Indenture
shall deliver to the Director of the
| 6 |
| Governor's Office of Management and Budget (formerly
Bureau of | 7 |
| the Budget), the Comptroller
and the Treasurer a certificate | 8 |
| setting forth the
"Certified Annual Debt Service Requirement" | 9 |
| (hereinafter defined) for the
next succeeding fiscal year. If | 10 |
| Bonds are issued subsequent to the
delivery of any such | 11 |
| certificate, upon the issuance of such Bonds the
trustee under | 12 |
| the Master Indenture shall deliver a supplemental certificate
| 13 |
| setting forth the revisions, if any, in the Certified Annual | 14 |
| Debt Service
Requirement resulting from the issuance of such | 15 |
| Bonds. The "Certified
Annual Debt Service Requirement" for any | 16 |
| fiscal year shall be an amount
equal to (a) the aggregate | 17 |
| amount of principal, interest and premium, if
any, payable on | 18 |
| outstanding Bonds during such fiscal year plus (b) the amount
| 19 |
| required to be deposited into any reserve fund securing such | 20 |
| Bonds or for the
purpose of retiring or defeasing such Bonds | 21 |
| plus (c) the
amount of any deficiencies in required transfers | 22 |
| of amounts described in
clauses (a) and (b) for any prior | 23 |
| fiscal year, minus (d) the
amount, if any, of such interest to | 24 |
| be paid from Bond proceeds on deposit
under any indenture; | 25 |
| provided, however, that interest payable on Variable
Rate Bonds | 26 |
| shall be calculated at the maximum rate of interest which may |
|
|
|
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LRB096 09379 RCE 27182 a |
|
| 1 |
| be
payable during such fiscal year after taking into account | 2 |
| any credits
permitted in the related indenture against
the | 3 |
| amount of such interest required to be appropriated for such | 4 |
| period
pursuant to subsection (c) of Section 11 of this Act.
| 5 |
| In each month during fiscal years 1986 through 1993, the | 6 |
| State Treasurer
and Comptroller shall transfer, on the last day
| 7 |
| of such month, from the Build Illinois Bond Account to the | 8 |
| Build Illinois Bond
Retirement and Interest Fund and shall make | 9 |
| payment from the Build Illinois
Bond Retirement and Interest | 10 |
| Fund to the trustee under the Master Indenture
of an amount | 11 |
| equal to 1/12 of 150% of the amount set forth below for each
| 12 |
| such fiscal year, plus any cumulative deficiency in such
| 13 |
| transfers and payments for prior months; provided that such | 14 |
| transfers shall
commence in October, 1985 and such amounts for | 15 |
| fiscal year 1986 shall equal
1/9 of 150% of the amount set | 16 |
| forth below for such fiscal year:
|
|
17 | | Fiscal Year |
Amount |
|
18 | | 1986 |
$15,000,000 |
|
19 | | 1987 |
$25,000,000 |
|
20 | | 1988 |
$40,000,000 |
|
21 | | 1989 |
$54,000,000 |
|
22 | | 1990 |
$85,400,000 |
|
23 | | 1991 |
$133,600,000 |
|
24 | | 1992 |
$164,400,000 |
|
25 | | 1993 |
$188,900,000 |
|
26 |
| provided that payments of such amounts from the Build Illinois |
|
|
|
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| 1 |
| Bond
Retirement and Interest Fund to the trustee under the | 2 |
| Master Indenture
shall commence on the last day of the month in | 3 |
| which Bonds are initially
issued under this Act; and, further | 4 |
| provided, that the first such payment
to said trustee shall | 5 |
| equal the entire amount then on deposit in the Build
Illinois | 6 |
| Bond Retirement and Interest Fund; and, further provided, that | 7 |
| the
aggregate amount of transfers and payments for any such | 8 |
| fiscal year shall
not exceed the amount set forth above for | 9 |
| such fiscal year.
| 10 |
| In each month in which Bonds are outstanding during fiscal | 11 |
| year 1994 and
each fiscal year thereafter, the State Treasurer | 12 |
| and Comptroller shall
transfer, on the last day of such month,
| 13 |
| (i) with respect to Bonds constituting bonds issued pursuant to | 14 |
| the bond authorization enacted pursuant to this amendatory Act | 15 |
| of the 96th General Assembly (and any refunding Bonds issued to | 16 |
| refund such Bonds), first from the Capital Projects Fund and | 17 |
| second, if needed, from the Build Illinois Bond Account and | 18 |
| (ii) with respect to all other Bonds not described in clause | 19 |
| (i), from the Build Illinois Bond Account, in each case, from | 20 |
| the Build Illinois Bond Account to the Build Illinois Bond | 21 |
| Retirement
and Interest Fund and shall make payment from the | 22 |
| Build Illinois Bond
Retirement and Interest Fund to the trustee | 23 |
| under the Master Indenture of an
amount equal to the greater of | 24 |
| (a) 1/12th of 150% of the Certified Annual
Debt Service | 25 |
| Requirement or (b) the Tax Act Amount (as defined in Section 3
| 26 |
| of the "Retailers' Occupation Tax Act", as amended) deposited |
|
|
|
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| 1 |
| in the Build
Illinois Bond Account during such month, plus any | 2 |
| cumulative deficiency in
such transfers and payments for prior | 3 |
| months; provided that such transfers
and payments for any such | 4 |
| fiscal year shall not exceed the greater of (a)
the Certified | 5 |
| Annual Debt Service Requirement or (b) the Tax Act Amount.
| 6 |
| (Source: P.A. 94-793, eff. 5-19-06.)
| 7 |
| Section 99. Effective date. This Act takes effect July 1, | 8 |
| 2009.".
|
|