State of Illinois
90th General Assembly

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          30 ILCS 330/2 +m      from Ch. 127, par. 652@m
          30 ILCS 330/3 +m      from Ch. 127, par. 653@m
          30 ILCS 330/4 +m      from Ch. 127, par. 654@m
          30 ILCS 330/6 +m      from Ch. 127, par. 656@m
          110 ILCS 920/4 +m     from Ch. 144, par. 2404@m
          Amends  the  General  Obligation  Bond  Act  to  increase
      authorization by $659,500,000.  Amends the General Obligation
      Bond  Act  and  Baccalaureate   Savings   Act   to   increase
      authorization  for  the  sale  of  college  savings  bonds by
SB87 Enrolled                                  SRA90S0012MWcb
 1        AN ACT to amend the General Obligation Bond Act  and  the
 2    Baccalaureate Savings Act.
 3        Be  it  enacted  by  the People of the State of Illinois,
 4    represented in the General Assembly:
 5        Section 1.  The General Obligation Bond Act is amended by
 6    changing  Sections 2, 3, 4, and 6.
 7        (30 ILCS 330/2) (from Ch. 127, par. 652)
 8        Sec. 2. Authorization for Bonds.  The State  of  Illinois
 9    is  authorized  to issue, sell and provide for the retirement
10    of General Obligation Bonds of the State of Illinois  in  the
11    total  amount  of $8,805,508,392 $8,146,008,392 herein called
12    "Bonds".
13        Of the total amount of  bonds  authorized  above,  up  to
14    $2,200,000,000 $1,700,000,000 in aggregate original principal
15    amount  may  be  issued  and  sold  in  accordance  with  the
16    Baccalaureate  Savings  Act in the form of General Obligation
17    College Savings Bonds.
18        Of the total amount of  bonds  authorized  above,  up  to
19    $300,000,000  in  aggregate  original principal amount may be
20    issued and sold in accordance with the Retirement Savings Act
21    in the form of General Obligation Retirement Savings Bonds.
22        The issuance and sale of Bonds pursuant  to  the  General
23    Obligation  Bond Act is an economical and efficient method of
24    financing the capital needs of  the  State.   This  Act  will
25    permit  the  issuance  of  a multi-purpose General Obligation
26    Bond with uniform terms and features.   This  will  not  only
27    lower  the  cost  of registration but also reduce the overall
28    cost of  issuing  debt  by  improving  the  marketability  of
29    Illinois General Obligation Bonds.
30        Bonds  shall  be  issued  for the categories and specific
SB87 Enrolled               -2-                SRA90S0012MWcb
 1    purposes expressed in Sections 2 through 8 and Section 16  of
 2    this Act.
 3    (Source:  P.A. 87-144; 87-173; 87-836; 87-873; 88-93; 88-472;
 4    88-552, eff. 7-14-94; 88-670, eff. 12-2-94.)
 5        (30 ILCS 330/3) (from Ch. 127, par. 653)
 6        Sec. 3. Capital Facilities. The amount of  $3,487,283,392
 7    $2,930,083,392  is authorized to be used for the acquisition,
 8    development,   construction,   reconstruction,   improvement,
 9    financing, architectural planning and installation of capital
10    facilities  within  the  State,  consisting   of   buildings,
11    structures,  durable  equipment,  land, and interests in land
12    for the following specific purposes:
13        (a)  $905,272,246 $752,272,246 for  educational  purposes
14    by  State  universities  and colleges, the Illinois Community
15    College Board created by the Public Community College Act and
16    for grants to public  community  colleges  as  authorized  by
17    Sections 5-11 and 5-12 of the Public Community College Act;
18        (b)  $898,113,368  $619,113,368 for correctional purposes
19    at State prison and correctional centers;
20        (c)  $284,132,486   $264,132,486   for    open    spaces,
21    recreational  and conservation purposes and the protection of
22    land;
23        (d)  $415,165,486 $353,165,486 for child care facilities,
24    mental and public health facilities, and facilities  for  the
25    care of disabled veterans and their spouses;
26        (e)  $765,968,641  $729,843,641 for use by the State, its
27    departments, authorities,  public  corporations,  commissions
28    and agencies;
29        (f)  $818,100  for  cargo  handling  facilities  at  port
30    districts and for breakwaters, including harbor entrances, at
31    port districts in conjunction with facilities for small boats
32    and pleasure crafts;
33        (g)  $129,572,796   $122,572,796   for   water   resource
SB87 Enrolled               -3-                SRA90S0012MWcb
 1    management projects;
 2        (h)  $16,940,269   $16,865,269   for   the  provision  of
 3    facilities  for  food   production   research   and   related
 4    instructional  and  public  service  activities  at the State
 5    universities and public community colleges;
 6        (i)  $34,000,000 for grants by the Secretary of State, as
 7    State Librarian, for central library facilities authorized by
 8    Section 8 of the Illinois Library System Act and  for  grants
 9    by the Capital Development Board to units of local government
10    for public library facilities;
11        (j)  $25,000,000   for   the   acquisition,  development,
12    construction,   reconstruction,    improvement,    financing,
13    architectural planning and installation of capital facilities
14    consisting  of  buildings,  structures, durable equipment and
15    land  for  grants  to  counties,  municipalities  or   public
16    building commissions with correctional facilities that do not
17    comply  with  the  minimum  standards  of  the  Department of
18    Corrections under Section  3-15-2  of  the  Unified  Code  of
19    Corrections;
20        (k)  $5,000,000  for  grants  in  fiscal year 1988 by the
21    Department of Conservation for improvement  or  expansion  of
22    aquarium  facilities  located  on  property  owned  by a park
23    district; and
24        (l)  $7,300,000 to State agencies  for  grants  to  local
25    governments  for  the  acquisition,  financing, architectural
26    planning,   development,   alteration,   installation,    and
27    construction  of  capital facilities consisting of buildings,
28    structures, durable equipment, and land.
29        The amounts authorized above for capital  facilities  may
30    be   used  for  the  acquisition,  installation,  alteration,
31    construction, or reconstruction of capital facilities and for
32    the purchase of equipment for the purpose  of  major  capital
33    improvements  which  will  reduce energy consumption in State
34    buildings or facilities.
SB87 Enrolled               -4-                SRA90S0012MWcb
 1    (Source: P.A. 87-836; 87-852; 87-873; 87-895; 88-93; 88-552.)
 2        (30 ILCS 330/4) (from Ch. 127, par. 654)
 3        Sec. 4.  Transportation.  The  amount  of  $2,388,300,000
 4    $2,336,500,000  is  authorized  for  use by the Department of
 5    Transportation for the  specific  purpose  of  promoting  and
 6    assuring  rapid,  efficient,  and  safe highway, air and mass
 7    transportation for the inhabitants of the State by  providing
 8    monies,  including  the  making  of grants and loans, for the
 9    acquisition,  construction,  reconstruction,  extension   and
10    improvement  of  the  following transportation facilities and
11    equipment, and for  the  acquisition  of  real  property  and
12    interests  in  real  property  required  or  expected  to  be
13    required in connection therewith as follows:
14        (a)  $1,411,000,000    for   State   highways,   arterial
15    highways, freeways,  roads,  bridges,  structures  separating
16    highways  and  railroads  and  roads,  and  bridges  on roads
17    maintained by counties,  municipalities,  townships  or  road
18    districts for the following specific purposes:
19             (1)  $1,310,000,000 for use statewide,
20             (2)  $3,641,000   for   use   outside   the  Chicago
21        urbanized area,
22             (3)  $7,543,000 for use within the Chicago urbanized
23        area,
24             (4)  $13,060,600 for use within the City of Chicago,
25             (5)  $57,894,500 for  use  within  the  counties  of
26        Cook, DuPage, Kane, Lake, McHenry and Will, and
27             (6)  $18,860,900  for  use  outside  the counties of
28        Cook, DuPage, Kane, Lake, McHenry and Will.
29        (b)  $787,300,000   $735,500,000   for    mass    transit
30    facilities,   as  defined  in  Section  49.19  of  the  Civil
31    Administrative Code of  Illinois,  including  rapid  transit,
32    rail, bus and other equipment used in connection therewith by
33    the   State   or   any  unit  of  local  government,  special
SB87 Enrolled               -5-                SRA90S0012MWcb
 1    transportation  district,  municipal  corporation  or   other
 2    corporation  or  public  authority  authorized to provide and
 3    promote public transportation within the State or two or more
 4    of  the  foregoing  jointly,  for  the   following   specific
 5    purposes:
 6             (1)  $691,500,000 $641,500,000 statewide,
 7             (2)  $83,350,000  $82,000,000  for  use  within  the
 8        counties of Cook, DuPage, Kane, Lake, McHenry and Will,
 9             (3)  $12,450,000  $12,000,000  for  use  outside the
10        counties of Cook, DuPage, Kane, Lake, McHenry and Will.
11        (c)  $190,000,000 for airport or aviation facilities  and
12    any   equipment   used  in  connection  therewith,  including
13    engineering and land acquisition costs, by the State  or  any
14    unit  of  local  government, special transportation district,
15    municipal  corporation  or  other   corporation   or   public
16    authority  authorized to provide public transportation within
17    the State, or two or more of the foregoing acting jointly.
18    (Source: P.A. 88-552; 89-235, eff. 8-4-95.)
19        (30 ILCS 330/6) (from Ch. 127, par. 656)
20        Sec. 6. Anti-Pollution.
21        (a)  The  amount  of  $170,400,000  is   authorized   for
22    allocation  by the Environmental Protection Agency for grants
23    or loans to units of local government  in  such  amounts,  at
24    such times and for such purpose as the Agency deems necessary
25    or desirable for the planning, financing, and construction of
26    municipal  sewage  treatment  works  and solid waste disposal
27    facilities  and  for  making  of  deposits  into  the   Water
28    Pollution  Control  Revolving  Fund  to provide assistance in
29    accordance  with  the  provisions  of  Title  IV-A   of   the
30    Environmental Protection Act.
31        (b)  The   amount   of   $160,500,000   $110,000,000   is
32    authorized  for  allocation  by  the Environmental Protection
33    Agency for payment of  claims  submitted  to  the  State  and
SB87 Enrolled               -6-                SRA90S0012MWcb
 1    approved  for  payment  under the Leaking Underground Storage
 2    Tank Program established in Title XVI  of  the  Environmental
 3    Protection Act.
 4    (Source:  P.A.  87-836;  88-93; 88-552, eff. 7-14-94; 88-670,
 5    eff. 12-2-94.)
 6        Section 2.  The Baccalaureate Savings Act is  amended  by
 7    changing Section 4.
 8        (110 ILCS 920/4) (from Ch. 144, par. 2404)
 9        Sec.  4.  Issuance and Sale of College Savings Bonds.  In
10    order to provide investors with  investment  alternatives  to
11    enhance  their  financial  access  to  Institutions of Higher
12    Education  located  in  the  State  of   Illinois,   and   in
13    furtherance   of   the  public  policy  of  this  Act,  bonds
14    authorized by the provisions of the General  Obligation  Bond
15    Act,  in  a  total aggregate original principal amount not to
16    exceed $2,200,000,000 $1,700,000,000 may be issued  and  sold
17    from  time  to  time, and as often as practicable, as College
18    Savings Bonds in such amounts as directed  by  the  Governor,
19    upon  recommendation  by  the  Director  of the Bureau of the
20    Budget.  Bonds to be issued and sold as College Savings Bonds
21    shall be designated by the Governor and the Director  of  the
22    Bureau  of  the Budget as "General Obligation College Savings
23    Bonds" in the proceedings authorizing the  issuance  of  such
24    Bonds,  and  shall  be  subject  to  all  of  the  terms  and
25    provisions  of  the  General Obligation Bond Act, except that
26    College Savings Bonds may bear interest payable at such  time
27    or times and may be sold at such prices and in such manner as
28    may  be  determined  by  the Governor and the Director of the
29    Bureau of the Budget and except as otherwise provided in this
30    Act. If College Savings Bonds are sold at  public  sale,  the
31    public sale procedures shall be as set forth in Section 11 of
32    the  General  Obligation Bond Act.  College Savings Bonds may
SB87 Enrolled               -7-                SRA90S0012MWcb
 1    be sold at negotiated sale if the Director of the  Bureau  of
 2    the  Budget  determines that a negotiated sale will result in
 3    either a more efficient and economic sale of  such  Bonds  or
 4    greater  access  to such Bonds by investors who are residents
 5    of the State of Illinois.  If any College Savings  Bonds  are
 6    sold at a negotiated sale, the underwriter or underwriters to
 7    which   such   Bonds   are   sold  shall  (a)  be  organized,
 8    incorporated or have their principal place of business in the
 9    State of Illinois, or (b) in the judgment of the Director  of
10    the  Bureau of the Budget, have sufficient capability to make
11    a broad distribution of such Bonds to investors  resident  in
12    the   State  of  Illinois.    In  determining  the  aggregate
13    principal amount of  College  Savings  Bonds  that  has  been
14    issued pursuant to this Act, the aggregate original principal
15    amount  of  such  Bonds  issued  and sold shall be taken into
16    account.  Any bond issued under this Act shall be payable  in
17    one  payment  on  a  fixed  date, unless the Governor and the
18    Director of the Bureau of the Budget determine otherwise.
19    (Source: P.A. 87-144; 88-93.)
20        Section 3.  This Act becomes effective  immediately  upon
21    becoming law.

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