(50 ILCS 30/1) (from Ch. 85, par. 1201)
Sec. 1.
This Act may be cited as the Exhibition Council Act.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/2) (from Ch. 85, par. 1202)
Sec. 2.
The county board of any county having a population of more than
100,000 but less than 500,000 inhabitants and the corporate authorities of
any city with a population of more than 80,000 but less than 500,000
inhabitants may by resolution or ordinance provide for the formation of an
Exhibition Council, which shall be a body politic and corporate, with the
power to certify the need for the levy of taxes within the limits provided
in this Act. Such Council shall have the power and authority to conduct
expositions, theatricals, cinema exhibitions, concerts, recitals, lectures
and industrial, trade, scientific, cultural and educational exhibits,
amusement devices, convention halls, public restaurants, stadia, athletic
fields, athletic contests and games, and other forms and places of public
entertainment in the county or city where the Council is organized.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/3) (from Ch. 85, par. 1203)
Sec. 3.
Every Exhibition Council organized pursuant to this Act shall have
a board of 6 commissioners, to be appointed by the presiding officer of the
county board with the advice and consent of the county board, or by the
mayor, with the approval of the city council. One of such commissioners
shall serve for one year, one for 2 years, one for 3 years, one for 4
years, one for 5 years and one for 6 years, and until their successors,
respectively, are appointed and qualified. Upon the expiration of the term
of each of such commissioners his successor shall be appointed in like
manner for a term of 6 years and until his successor is appointed and
qualified. Each commissioner shall be a legal voter of the city or county
where the Council is organized, and before entering upon the duties of his
office shall take and subscribe an oath to support the constitution of the
United States and the constitution of the State of Illinois and to
faithfully discharge his duties as commissioner. Each commissioner before
entering upon the duties of his office shall also execute a bond, with
security to be approved by the circuit court in the county where the
Council is located, in the penal sum of $30,000 payable to the Council
conditioned for the faithful performance of his duties as such
commissioner. The commissioners shall serve without compensation.
(Source: P.A. 78-1128.)
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(50 ILCS 30/4) (from Ch. 85, par. 1204)
Sec. 4.
Within 90 days after the appointment of the first 6 commissioners
of any Exhibition Council under this Act, or within 60 days after the
effective date of this amendatory Act of 1967 whichever is later, a
majority of the commissioners of such Council shall cause to be filed with
the Secretary of State a petition requesting the formation of an Exhibition
Council under this Act.
Such petition shall be signed and verified under oath before some
officer competent to take acknowledgment of deeds by at least a majority of
the commissioners of the Exhibition Council, and shall set forth the
following: (1) a copy of the ordinance or resolution passed by the county
board or the corporate authorities of the city authorizing the
commissioners to file the petition; (2) the name of the proposed
corporation which shall include the words "Exhibition Council"; (3) a
description of the territorial area of the Exhibition Council.
Upon receipt of a properly executed petition and the necessary exhibits
the Secretary of State shall issue a certificate of incorporation to the
Exhibition Council by the name designated in such petition reciting the
purposes for which it has been incorporated and the powers of the
corporation as set forth in this Act.
(Source: Laws 1967, p. 589.)
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(50 ILCS 30/5) (from Ch. 85, par. 1205)
Sec. 5.
Annually the commissioners of the Exhibition Council shall choose
from among their members a president and vice-president, to serve for a
term of one year and until their successors are chosen and qualified. The
president shall preside at the meetings of the commissioners but may vote
as any other member and shall not have the power of veto. In the absence of
the president, the vice-president shall perform the president's functions.
No official action may be taken except upon the affirmative vote of 4
commissioners.
The commissioners shall appoint a secretary and a treasurer, either from
within or outside of their own membership, who shall be residents of the
city or county in which the property of the Council is located and shall
serve for a term prescribed by the commissioners. Before entering upon the
duties of their respective offices the secretary and treasurer shall
execute a bond, with security to be approved by the commissioners of such
Council in the penal sum of $30,000 payable to the Council conditioned for
the faithful performance of the duties of office.
The commissioners shall prescribe the powers and duties and fix the
compensation of the secretary, treasurer and all other officers and
employees of the Council.
All ordinances, resolutions and all proceedings of the Exhibition
Council shall be public records and open to public inspection, except such
documents and records as are kept or prepared by the board of commissioners
for use in negotiations, legal actions or proceedings to which the Council
is a party.
Within 60 days after the end of each fiscal year the board shall cause
to be prepared by a certified public accountant a complete and detailed
report and financial statement of the operations and assets and liabilities
of the Exhibition Council and shall distribute copies thereof to the
appropriate authorities appointing the commissioners and to the city clerk,
or county clerk, as the case may be, to be kept as a public record.
(Source: Laws 1967, p. 585.)
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(50 ILCS 30/6) (from Ch. 85, par. 1206)
Sec. 6.
Every Exhibition Council organized under this Act shall have the
rights, powers and privileges set forth in Section 6.1 through 6.10 in
addition to the powers expressed in the purposes for which such Council is
authorized to be organized.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.1) (from Ch. 85, par. 1206.1)
Sec. 6.1.
Each Council has the power to have succession by its corporate
name.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.2) (from Ch. 85, par. 1206.2)
Sec. 6.2.
Each Council has the power to sue and be sued in its corporate
name.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.3) (from Ch. 85, par. 1206.3)
Sec. 6.3.
Each Council has the power to adopt and use a corporate seal.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.4) (from Ch. 85, par. 1206.4)
Sec. 6.4.
Each Council has the power to acquire lands by lease, gift,
purchase, condemnation or otherwise, and to construct, reconstruct or
acquire by gift, grant, purchase, condemnation, lease or otherwise
buildings and other structures and personal property for any purpose within
the powers of such Council and to sell, transfer or convey its property, or
any part thereof, except that acquired by lease, when no longer necessary
or useful for its purposes or to exchange any such property for other
property which it may use for any purpose within the powers of such
Council.
Before a Council exercises its power to acquire land by condemnation,
such condemnation must be approved by a majority of the members of the
county board or corporate authorities that formed the Council.
(Source: Laws 1967, p. 3229.)
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(50 ILCS 30/6.4a) Sec. 6.4a. Eminent domain. Notwithstanding any other provision of this Act, any power granted under this Act to acquire property by condemnation or eminent domain is subject to, and shall be exercised in accordance with, the Eminent Domain Act.
(Source: P.A. 94-1055, eff. 1-1-07.) |
(50 ILCS 30/6.5) (from Ch. 85, par. 1206.5)
Sec. 6.5.
Each Council has the power to charge and collect rentals, license
or permit fees and admission fees.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.6) (from Ch. 85, par. 1206.6)
Sec. 6.6.
Each Council has the power to purchase and enter into
contracts for any type of insurance or surety bond covering fire, use
and occupancy, tornado, weather, damage to property, theft, robbery,
workers' compensation, public liability, fidelity, contract
obligations, and all other types of insurance and indemnity that may be
desirable in the performance of the functions of such Council.
(Source: P.A. 81-992.)
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(50 ILCS 30/6.7) (from Ch. 85, par. 1206.7)
Sec. 6.7.
Each Council has the power to enter into any contract or
agreement which may be desirable in the opinion of the board of
commissioners of such Council for the performance of any functions or the
exercise of any powers granted to it.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.8) (from Ch. 85, par. 1206.8)
Sec. 6.8.
Each Council has the power to borrow money and to issue and sell
or pledge to any person its notes, bonds or other evidences of indebtedness
which may be a lien upon any rights or property of such Council, or may be
secured by a lien upon its revenue or upon the revenue of any project of
such Council.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.9) (from Ch. 85, par. 1206.9)
Sec. 6.9.
Each Council may invest and reinvest any money held in reserves
or sinking funds or in any funds not required for immediate disbursement in
bonds and tax anticipation warrants issued by the park district, sanitary
district, school district, county or city in which the property of such
Council is located, in the bonds of the State of Illinois or of the United
States, in certificates of deposit in any federally insured State or
national bank or in any federally insured savings and loan corporation, and
to sell or pledge such securities for any purpose within the powers of such
Council.
No bank or savings and loan association shall receive public funds as
permitted by this Section, unless it has complied with the requirements
established pursuant to Section 6 of "An Act relating to certain investments
of public funds by public agencies", approved July 23, 1943, as now or hereafter
amended.
(Source: P.A. 83-541.)
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(50 ILCS 30/6.10) (from Ch. 85, par. 1206.10)
Sec. 6.10.
Each Council has the power to secure grants and loans, or
either, from the United States government, or any agency thereof, for
financing projects authorized under this Act and for such purposes to sell
or pledge its notes, bonds or other evidences of indebtedness, and its
securities, and execute any contracts and documents and do all things that
may be required by the United States government or such agency.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/6.11) (from Ch. 85, par. 1206.11)
Sec. 6.11.
Purchases made pursuant to this Act shall be made in
compliance with the "Local Government Prompt Payment Act", approved by the
Eighty-fourth General Assembly.
(Source: P.A. 84-731.)
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(50 ILCS 30/7) (from Ch. 85, par. 1207)
Sec. 7.
When issuing bonds pursuant to Section 6.8, each Exhibition Council
shall comply with the provisions of Sections 8 through 19 of this Act.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/8) (from Ch. 85, par. 1208)
Sec. 8.
Each Exhibition Council has the continuing power to borrow money
and issue either general obligation bonds after approval by referendum as
hereinafter provided or revenue bonds without referendum approval as
hereinafter provided for the purpose of acquiring, constructing,
reconstructing, extending or improving any Council facilities, and for
acquiring any property and equipment useful for the construction,
reconstruction, extension, improvement or operation of such facilities, and
for acquiring necessary cash working funds.
(Source: Laws 1967, p. 585.)
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(50 ILCS 30/9) (from Ch. 85, par. 1209)
Sec. 9.
Each Exhibition Council may pursuant to resolution adopted by the
board of commissioners and without submitting the question to referendum
from time to time issue and dispose of its interest bearing revenue bonds
and may also in the same manner from time to time issue and dispose of its
interest bearing revenue bonds to refund any revenue bonds at maturity or
pursuant to redemption provisions or at any time before maturity with the
consent of the holders thereof.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/9.1) (from Ch. 85, par. 1209.1)
Sec. 9.1.
If the board of commissioners of an Exhibition Council
desires to issue general obligation bonds it shall adopt a resolution
specifying the amount of bonds to be issued, the purpose for which they
will be issued, the maximum rate of interest they will bear which may
not be more than the maximum rate authorized by the Bond Authorization Act,
as amended at the time of the making of the contract, the date of maturity
which may not be more than 20 years after the date of issuance, and levying
a tax that will be required to amortize such bonds. This ordinance is not
effective until it has been submitted to referendum of, and approved by,
the legal voters of the city or county, as the case may be, which caused
the formation of that Council. The recording office of the council shall
certify the ordinance and the proposition to the proper election officials
in accordance with the general election law. The question shall be
submitted at a regular election and notice of the referendum given in
accordance with the general election law. If
a majority of the vote is in favor of the issuance of such general
obligation bonds the county clerk shall annually extend taxes against
all taxable property within the city or county, as the case may be, at a
rate sufficient to pay the maturing principal and interest of these bonds.
The proposition shall be in substantially the following form:
Shall general obligation bonds in the amount of $.... be issued by the....(Exhibition Council) YES for the purpose of.... maturing in not more than.... years, bearing not more than....% interest, and a tax levied to NO pay the principal and interest thereof?
(Source: P.A. 86-4.)
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(50 ILCS 30/10) (from Ch. 85, par. 1210)
Sec. 10.
All revenue bonds issued by an Exhibition Council shall be payable
solely from the revenues or income to be derived from the property,
facilities and exhibitions of such Council, or any part thereof, may bear
such date or dates and may mature at such time or times not exceeding 40
years from their respective dates, all as may be provided in the resolution
authorizing their issuance. All bonds, whether revenue or general
obligation, may bear interest at such rate or rates, not exceeding
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, in the case of revenue bonds and
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, in the case of general obligation bonds,
payable semi-annually, may be in such form, may carry such registration
privileges, may be executed in such manner, may be payable at such place or
places, may be made subject to redemption in such manner and upon such
terms, with or without premium as is stated on the face thereof, may be
authenticated in such manner and may contain such terms and covenants, all
as may be provided in the resolution authorizing issuance.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
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(50 ILCS 30/11) (from Ch. 85, par. 1211)
Sec. 11.
The holder or holders of any bonds or interest coupons
appertaining thereto issued by an exhibition council or any of its
officers, agents or employees of any contract or covenant made by the
council with the holders of such bonds or interest coupons and to compel
the council and any of its officers, agents or employees to perform any
duties required to be performed for the benefit of the holders of any such
bonds or interest coupons by the provision in the resolution authorizing
their issuance, and to enjoin the council and any of its officers, agents
or employees from taking any action in conflict with any such contract or
covenant, including, as respects the holders of revenue bonds or interest
coupons appertaining thereto issued by an exhibition council, the
establishment of charges, fees and rates for the admission, rental, license
or other use of facilities as hereinafter provided.
Notwithstanding the form and tenor of any bond, whether revenue or
general obligation, and in the absence of any express recital on the face
thereof that it is nonnegotiable, all such bonds shall be negotiable
instruments. Pending the preparation and execution of any such bonds,
temporary bonds may be issued with or without interest coupons as may be
provided by resolution.
(Source: P.A. 77-975.)
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(50 ILCS 30/12) (from Ch. 85, par. 1212)
Sec. 12.
All bonds, whether general obligation or revenue, may be issued
and sold by each Exhibition Council in such manner as the Council shall
determine. However, if any bonds are issued to bear interest at the maximum
rate of interest allowed by Section 10, the bonds shall be sold for not
less than par and accrued interest. The selling price of bonds bearing
interest at a rate less than the maximum allowable interest rate per annum
shall be such that the interest cost to the Council of the money received
from the bond sale shall not exceed the maximum annual interest rate
allowed by Section 10 computed to absolute maturity of such bonds according
to standard tables of bond values.
(Source: Laws 1967, p. 585.)
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(50 ILCS 30/13) (from Ch. 85, par. 1213)
Sec. 13.
Upon the issue of any revenue bonds the issuing Exhibition Council
shall fix and establish rates, charges and fees for the use of facilities
acquired, constructed, reconstructed, extended or improved with the
proceeds derived from the sale of said revenue bonds sufficient at all
times with other revenues of such Council, if any, to pay: (a) the cost of
maintaining, repairing, regulating and operating such Council property,
facilities and exhibits; and (b) the bonds and interest thereon as they
become due, and all sinking fund requirements and other requirements
provided by the resolution authorizing the issuance of the bonds or as
provided by any trust agreement executed to secure payment thereof.
To secure the payment of any or all revenue bonds and for the purpose of
setting forth the covenants and undertaking of an Exhibition Council in
connection with the issuance of revenue bonds and the issuance of any
additional revenue bonds payable from such revenue income to be derived
from the property, facilities and exhibits, each Exhibition Council may
execute and deliver a trust agreement or agreements except that no lien
upon any physical property of the Council shall be created thereby. A
remedy for any breach or default of the terms of any such trust agreement
by an Exhibition Council may be by mandamus proceedings in any court of
competent jurisdiction to compel performance and compliance therewith, but
the trust agreement may prescribe by whom or on whose behalf such action
may be instituted.
(Source: Laws 1965, p. 2861.)
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(50 ILCS 30/14) (from Ch. 85, par. 1214)
Sec. 14.
Under no circumstances shall any bonds issued by an Exhibition
Council or any other obligation of such Council be or become an
indebtedness or obligation of the State of Illinois or of any political
subdivision of or municipality within the State, other than the issuing
Exhibition Council.
No revenue bond shall be or become an indebtedness of an Exhibition
Council within the purview of any constitutional limitation or provision,
and it shall be plainly stated on the face of each revenue bond that it
does not constitute such an indebtedness but is payable solely from the
revenues or income derived from the property, facilities, and exhibitions
of the issuing Exhibition Council and from any funds received by the
issuing Exhibition Council from any other source.
(Source: Laws 1967, p. 585.)
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(50 ILCS 30/15) (from Ch. 85, par. 1215)
Sec. 15.
Any clause, sentence or portion of this Act which may for any
reason be held invalid shall not affect the validity of the remainder of
this Act.
(Source: Laws 1965, p. 2861.)
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