[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 001 ] |
| [ Conference Committee Report 001 ] |
90_HB0108enr
30 ILCS 330/2 from Ch. 127, par. 652
Amends the General Obligation Bond Act by reducing by $1
the total amount of General Obligation Bonds authorized under
this Act. Effective immediately.
LRB9000980WHmg
HB0108 Enrolled LRB9000980WHmg
1 AN ACT in relation to bonds.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. Public Act 90-8 (House Bill 1171 of the 90th
5 General Assembly) is amended by adding Section 99 as follows:
6 (P.A. 90-8, Sec. 99 new)
7 Sec. 99. Effective date. This Act (Public Act 90-8)
8 takes effect upon the effective date of this amendatory Act
9 of 1997 (House Bill 108 of the Ninetieth General Assembly).
10 Section 10. The General Obligation Bond Act is amended
11 by changing Sections 2, 3, 5, 6, 7, and 12 as follows:
12 (30 ILCS 330/2) (from Ch. 127, par. 652)
13 Sec. 2. Authorization for Bonds. The State of Illinois
14 is authorized to issue, sell and provide for the retirement
15 of General Obligation Bonds of the State of Illinois in the
16 total amount of $10,334,908,392 $8,972,708,392 herein called
17 "Bonds".
18 Of the total amount of bonds authorized above, up to
19 $2,200,000,000 in aggregate original principal amount may be
20 issued and sold in accordance with the Baccalaureate Savings
21 Act in the form of General Obligation College Savings Bonds.
22 Of the total amount of bonds authorized above, up to
23 $300,000,000 in aggregate original principal amount may be
24 issued and sold in accordance with the Retirement Savings Act
25 in the form of General Obligation Retirement Savings Bonds.
26 The issuance and sale of Bonds pursuant to the General
27 Obligation Bond Act is an economical and efficient method of
28 financing the capital needs of the State. This Act will
29 permit the issuance of a multi-purpose General Obligation
HB0108 Enrolled -2- LRB9000980WHmg
1 Bond with uniform terms and features. This will not only
2 lower the cost of registration but also reduce the overall
3 cost of issuing debt by improving the marketability of
4 Illinois General Obligation Bonds.
5 Bonds shall be issued for the categories and specific
6 purposes expressed in Sections 2 through 8 and Section 16 of
7 this Act.
8 (Source: P.A. 90-1, eff. 2-20-97; 90-8.)
9 (30 ILCS 330/3) (from Ch. 127, par. 653)
10 Sec. 3. Capital Facilities. The amount of $3,846,083,392
11 $3,587,083,392 is authorized to be used for the acquisition,
12 development, construction, reconstruction, improvement,
13 financing, architectural planning and installation of capital
14 facilities within the State, consisting of buildings,
15 structures, durable equipment, land, and interests in land
16 for the following specific purposes:
17 (a) $1,032,672,246 $905,272,246 for educational purposes
18 by State universities and colleges, the Illinois Community
19 College Board created by the Public Community College Act and
20 for grants to public community colleges as authorized by
21 Sections 5-11 and 5-12 of the Public Community College Act;
22 (b) $1,027,213,368 $931,313,368 for correctional
23 purposes at State prison and correctional centers;
24 (c) $298,682,486 $292,132,486 for open spaces,
25 recreational and conservation purposes and the protection of
26 land;
27 (d) $451,215,486 $439,165,486 for child care facilities,
28 mental and public health facilities, and facilities for the
29 care of disabled veterans and their spouses;
30 (e) $809,568,641 $792,468,641 for use by the State, its
31 departments, authorities, public corporations, commissions
32 and agencies;
33 (f) $818,100 for cargo handling facilities at port
HB0108 Enrolled -3- LRB9000980WHmg
1 districts and for breakwaters, including harbor entrances, at
2 port districts in conjunction with facilities for small boats
3 and pleasure crafts;
4 (g) $137,672,796 for water resource management projects;
5 (h) $16,940,269 for the provision of facilities for food
6 production research and related instructional and public
7 service activities at the State universities and public
8 community colleges;
9 (i) $34,000,000 for grants by the Secretary of State, as
10 State Librarian, for central library facilities authorized by
11 Section 8 of the Illinois Library System Act and for grants
12 by the Capital Development Board to units of local government
13 for public library facilities;
14 (j) $25,000,000 for the acquisition, development,
15 construction, reconstruction, improvement, financing,
16 architectural planning and installation of capital facilities
17 consisting of buildings, structures, durable equipment and
18 land for grants to counties, municipalities or public
19 building commissions with correctional facilities that do not
20 comply with the minimum standards of the Department of
21 Corrections under Section 3-15-2 of the Unified Code of
22 Corrections;
23 (k) $5,000,000 for grants in fiscal year 1988 by the
24 Department of Conservation for improvement or expansion of
25 aquarium facilities located on property owned by a park
26 district; and
27 (l) $7,300,000 to State agencies for grants to local
28 governments for the acquisition, financing, architectural
29 planning, development, alteration, installation, and
30 construction of capital facilities consisting of buildings,
31 structures, durable equipment, and land.
32 The amounts authorized above for capital facilities may
33 be used for the acquisition, installation, alteration,
34 construction, or reconstruction of capital facilities and for
HB0108 Enrolled -4- LRB9000980WHmg
1 the purchase of equipment for the purpose of major capital
2 improvements which will reduce energy consumption in State
3 buildings or facilities.
4 (Source: P.A. 90-1, eff. 2-20-97; 90-8.)
5 (30 ILCS 330/5) (from Ch. 127, par. 655)
6 Sec. 5. School Construction. (a) The amount of
7 $58,450,000 is authorized to make grants to local school
8 districts for the acquisition, development, construction,
9 reconstruction, rehabilitation, improvement, financing,
10 architectural planning and installation of capital
11 facilities, including but not limited to those required for
12 special education building projects provided for in Article
13 14 of The School Code, consisting of buildings, structures,
14 and durable equipment, and for the acquisition and
15 improvement of real property and interests in real property
16 required, or expected to be required, in connection
17 therewith.
18 (b) $22,550,000, or so much thereof as may be necessary,
19 for grants to school districts for the making of principal
20 and interest payments, required to be made, on bonds issued
21 by such school districts after January 1, 1969, pursuant to
22 any indenture, ordinance, resolution, agreement or contract
23 to provide funds for the acquisition, development,
24 construction, reconstruction, rehabilitation, improvement,
25 architectural planning and installation of capital facilities
26 consisting of buildings, structures, durable equipment and
27 land for educational purposes or for lease payments required
28 to be made by a school district for principal and interest
29 payments on bonds issued by a Public Building Commission
30 after January 1, 1969.
31 (c) $10,000,000 for grants to school districts for the
32 acquisition, development, construction, reconstruction,
33 rehabilitation, improvement, architectural planning and
HB0108 Enrolled -5- LRB9000980WHmg
1 installation of capital facilities consisting of buildings
2 structures, durable equipment and land for special education
3 building projects.
4 (d) $9,000,000 for grants to school districts for the
5 reconstruction, rehabilitation, improvement, financing and
6 architectural planning of capital facilities, including
7 construction at another location to replace such capital
8 facilities, consisting of those public school buildings and
9 temporary school facilities which, prior to January 1, 1984,
10 were condemned by the regional superintendent under Section
11 3-14.22 of The School Code or by any State official having
12 jurisdiction over building safety.
13 (e) $1,100,000,000 for grants to school districts for
14 school improvement projects authorized by the School
15 Construction Law. The bonds shall be sold in amounts not to
16 exceed the following schedule, except any bonds not sold
17 during one year shall be added to the bonds to be sold during
18 the remainder of the schedule:
19 First year...................................$200,000,000
20 Second year..................................$250,000,000
21 Third year...................................$250,000,000
22 Fourth year..................................$200,000,000
23 Fifth year...................................$200,000,000
24 (Source: P.A. 84-1227.)
25 (30 ILCS 330/6) (from Ch. 127, par. 656)
26 Sec. 6. Anti-Pollution.
27 (a) The amount of $189,300,000 is authorized for
28 allocation by the Environmental Protection Agency for grants
29 or loans to units of local government in such amounts, at
30 such times and for such purpose as the Agency deems necessary
31 or desirable for the planning, financing, and construction of
32 municipal sewage treatment works and solid waste disposal
33 facilities and for making of deposits into the Water
HB0108 Enrolled -6- LRB9000980WHmg
1 Pollution Control Revolving Fund and the U.S. Environmental
2 Protection Fund to provide assistance in accordance with the
3 provisions of Title IV-A of the Environmental Protection Act.
4 (b) The amount of $160,500,000 is authorized for
5 allocation by the Environmental Protection Agency for payment
6 of claims submitted to the State and approved for payment
7 under the Leaking Underground Storage Tank Program
8 established in Title XVI of the Environmental Protection Act.
9 (Source: P.A. 90-1, eff. 2-20-97; 90-8)
10 (30 ILCS 330/7) (from Ch. 127, par. 657)
11 Sec. 7. Coal and Energy Development. The amount of
12 $163,200,000 $160,000,000 is authorized to be used by the
13 Department of Commerce and Community Affairs for coal and
14 energy development purposes, pursuant to Sections 2, 3 and
15 3.1 of the Illinois Coal and Energy Development Bond Act, and
16 for the purposes specified in Section 8.1 of the Energy
17 Conservation and Coal Development Act. Of this amount
18 $115,000,000 is for the specific purposes of acquisition,
19 development, construction, reconstruction, improvement,
20 financing, architectural and technical planning and
21 installation of capital facilities consisting of buildings,
22 structures, durable equipment, and land for the purpose of
23 capital development of coal resources within the State and
24 for the purposes specified in Section 8.1 of the Energy
25 Conservation and Coal Development Act, $35,000,000 is for the
26 purposes specified in Section 8.1 of the Energy Conservation
27 and Coal Development Act and making a grant to the owner of a
28 generating station located in Illinois and having at least
29 three coal-fired generating units with accredited summer
30 capability greater than 500 megawatts each at such generating
31 station as provided in Section 6 of that Bond Act and
32 $13,200,000 $10,000,000 is for research, development and
33 demonstration of forms of energy other than that derived from
HB0108 Enrolled -7- LRB9000980WHmg
1 coal, either on or off State property.
2 (Source: P.A. 89-445, eff. 2-7-96; 90-312, eff. 8-1-97.)
3 (30 ILCS 330/12) (from Ch. 127, par. 662)
4 Sec. 12. Allocation of Proceeds from Sale of Bonds. (a)
5 Proceeds from the sale of Bonds, authorized by Section 3 of
6 this Act, shall be deposited in the separate fund known as
7 the Capital Development Fund.
8 (b) Proceeds from the sale of Bonds, authorized by
9 paragraph (a) of Section 4 of this Act, shall be deposited in
10 the separate fund known as the Transportation Bond, Series A
11 Fund.
12 (c) Proceeds from the sale of Bonds, authorized by
13 paragraphs (b) and (c) of Section 4 of this Act, shall be
14 deposited in the separate fund known as the Transportation
15 Bond, Series B Fund.
16 (d) Proceeds from the sale of Bonds, authorized by
17 Section 5 of this Act, shall be deposited in the separate
18 fund known as the School Construction Fund, except that
19 proceeds from the sale of the additional $1,100,000,000 of
20 bonds authorized in subsection (e) of Section 5 pursuant to
21 this amendatory Act of 1997 shall be deposited into the
22 School Infrastructure Fund.
23 (e) Proceeds from the sale of Bonds, authorized by
24 Section 6 of this Act, shall be deposited in the separate
25 fund known as the Anti-Pollution Fund.
26 (f) Proceeds from the sale of Bonds, authorized by
27 Section 7 of this Act, shall be deposited in the separate
28 fund known as the Coal Development Fund.
29 (g) Proceeds from the sale of Bonds, authorized by
30 Section 8 of this Act, shall be deposited in the Capital
31 Development Fund.
32 (h) Subsequent to the issuance of any Bonds for the
33 purposes described in Sections 2 through 8 of this Act, the
HB0108 Enrolled -8- LRB9000980WHmg
1 Governor and the Director of the Bureau of the Budget may
2 provide for the reallocation of unspent proceeds of such
3 Bonds to any other purposes authorized under said Sections of
4 this Act, subject to the limitations on aggregate principal
5 amounts contained therein. Upon any such reallocation, such
6 unspent proceeds shall be transferred to the appropriate
7 funds as determined by reference to paragraphs (a) through
8 (g) of this Section.
9 (Source: P.A. 86-453; 86-1017.)
10 Section 99. Effective date. This Act takes effect upon
11 becoming law.