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90_SB0200enr
10 ILCS 5/1-3 from Ch. 46, par. 1-3
10 ILCS 5/2A-1.1 from Ch. 46, par. 2A-1.1
10 ILCS 5/2A-1.2 from Ch. 46, par. 2A-1.2
10 ILCS 5/2A-36 from Ch. 46, par. 2A-36
10 ILCS 5/2A-43 from Ch. 46, par. 2A-43
10 ILCS 5/2A-48 from Ch. 46, par. 2A-48
10 ILCS 5/2A-49 from Ch. 46, par. 2A-49
10 ILCS 5/2A-50 from Ch. 46, par. 2A-50
10 ILCS 5/2A-51 from Ch. 46, par. 2A-51
10 ILCS 5/2A-52 from Ch. 46, par. 2A-52
10 ILCS 5/4-11 from Ch. 46, par. 4-11
10 ILCS 5/10-6 from Ch. 46, par. 10-6
10 ILCS 5/11-7 from Ch. 46, par. 11-7
10 ILCS 5/12-1 from Ch. 46, par. 12-1
10 ILCS 5/16-4.1 from Ch. 46, par. 16-4.1
10 ILCS 5/24-1.2 from Ch. 46, par. 24-1.2
70 ILCS 705/4.02 from Ch. 127 1/2, par. 24.02
110 ILCS 805/2-12.1 from Ch. 122, par. 102-12.1
110 ILCS 805/3-7 from Ch. 122, par. 103-7
Amends the Election Code, the Public Community College
Act and the Fire Protection District Act to abolish the
nonpartisan election held on the first Tuesday after the
first Monday in November of odd-numbered years. Transfers
elections of officers held at the nonpartisan election to the
consolidated election held on the first Tuesday in April of
odd-numbered years. Effective immediately.
LRB9001780MWcd
SB200 Enrolled LRB9001780MWcd
1 AN ACT concerning notice of bond issues, amending named
2 Acts.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Local Government Debt Reform Act is
6 amended by changing Section 15 as follows:
7 (30 ILCS 350/15) (from Ch. 17, par. 6915)
8 Sec. 15. Double-barrelled bonds. Whenever revenue bonds
9 have been authorized to be issued pursuant to applicable law
10 or whenever there exists for a governmental unit a revenue
11 source, the procedures set forth in this Section may be used
12 by a governing body. General obligation bonds may be issued
13 in lieu of such revenue bonds as authorized, and general
14 obligation bonds may be issued payable from any revenue
15 source. Such general obligation bonds may be referred to as
16 "alternate bonds". Alternate bonds may be issued without any
17 referendum or backdoor referendum except as provided in this
18 Section, upon the terms provided in Section 10 of this Act
19 without reference to other provisions of law, but only upon
20 the conditions provided in this Section. Alternate bonds
21 shall not be regarded as or included in any computation of
22 indebtedness for the purpose of any statutory provision or
23 limitation except as expressly provided in this Section.
24 Such conditions are: (a) Alternate bonds shall be issued
25 for a lawful corporate purpose. If issued in lieu of revenue
26 bonds, alternate bonds shall be issued for the purposes for
27 which such revenue bonds shall have been authorized. If
28 issued payable from a revenue source in the manner
29 hereinafter provided, which revenue source is limited in its
30 purposes or applications, then the alternate bonds shall be
31 issued only for such limited purposes or applications.
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1 Alternate bonds may be issued payable from either enterprise
2 revenues or revenue sources, or both.
3 (b) Alternate bonds shall be subject to backdoor
4 referendum. The provisions of Section 5 of this Act shall
5 apply to such backdoor referendum, together with the
6 provisions hereof. The authorizing ordinance shall be
7 published in a newspaper of general circulation in the
8 governmental unit. Along with or as part of the authorizing
9 ordinance, there shall be published a notice of (1) the
10 specific number of voters required to sign a petition
11 requesting that the issuance of the alternate bonds be
12 submitted to referendum, (2) the time when such petition must
13 be filed, (3) the date of the prospective referendum, and
14 (4), with respect to authorizing ordinances adopted on or
15 after January 1, 1991, a statement that identifies any
16 revenue source that will be used to pay the principal of and
17 interest on the alternate bonds. The clerk or secretary of
18 the governmental unit shall make a petition form available to
19 anyone requesting one. If no petition is filed with the
20 clerk or secretary within 30 days of publication of the
21 authorizing ordinance and notice, the alternate bonds shall
22 be authorized to be issued. But if within this 30 days
23 period, a petition is filed with such clerk or secretary
24 signed by electors numbering the greater of (i) 7.5% of the
25 registered voters in the governmental unit or (ii) 200 of
26 those registered voters or 15% of those registered voters,
27 whichever is less, asking that the issuance of such alternate
28 bonds be submitted to referendum, the clerk or secretary
29 shall certify such question for submission at an election
30 held in accordance with the general election law. The
31 question on the ballot shall include a statement of any
32 revenue source that will be used to pay the principal of and
33 interest on the alternate bonds. The alternate bonds shall be
34 authorized to be issued if a majority of the votes cast on
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1 the question at such election are in favor thereof provided
2 that notice of the bond referendum, if heretofore or
3 hereafter held, has been or shall be given in accordance with
4 the provisions of Section 12-5 of the Election Code, at least
5 10 and not more than 45 days before the date of the election,
6 notwithstanding the time for publication otherwise imposed by
7 Section 12-5. Backdoor referendum proceedings for bonds and
8 alternate bonds to be issued in lieu of such bonds may be
9 conducted at the same time.
10 (c) To the extent payable from enterprise revenues, such
11 revenues shall have been determined by the governing body to
12 be sufficient to provide for or pay in each year to final
13 maturity of such alternate bonds all of the following: (1)
14 costs of operation and maintenance of the utility or
15 enterprise, but not including depreciation, (2) debt service
16 on all outstanding revenue bonds payable from such enterprise
17 revenues, (3) all amounts required to meet any fund or
18 account requirements with respect to such outstanding revenue
19 bonds, (4) other contractual or tort liability obligations,
20 if any, payable from such enterprise revenues, and (5) in
21 each year, an amount not less than 1.25 times debt service of
22 all (i) alternate bonds payable from such enterprise revenues
23 previously issued and outstanding and (ii) alternate bonds
24 proposed to be issued. To the extent payable from one or
25 more revenue sources, such sources shall have been determined
26 by the governing body to provide in each year, an amount not
27 less than 1.25 times debt service of all alternate bonds
28 payable from such revenue sources previously issued and
29 outstanding and alternate bonds proposed to be issued. The
30 conditions enumerated in this subsection (c) need not be met
31 for that amount of debt service provided for by the setting
32 aside of proceeds of bonds or other moneys at the time of the
33 delivery of such bonds.
34 (d) The determination of the sufficiency of enterprise
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1 revenues or a revenue source, as applicable, shall be
2 supported by reference to the most recent audit of the
3 governmental unit, which shall be for a fiscal year ending
4 not earlier than 18 months previous to the time of issuance
5 of the alternate bonds. If such audit does not adequately
6 show such enterprise revenues or revenue source, as
7 applicable, or if such enterprise revenues or revenue source,
8 as applicable, are shown to be insufficient, then the
9 determination of sufficiency shall be supported by the report
10 of an independent accountant or feasibility analyst having a
11 national reputation for expertise in such matters,
12 demonstrating the sufficiency of such revenues and
13 explaining, if appropriate, by what means the revenues will
14 be greater than as shown in the audit. Whenever such
15 sufficiency is demonstrated by reference to a schedule of
16 higher rates or charges for enterprise revenues or a higher
17 tax imposition for a revenue source, such higher rates,
18 charges or taxes shall have been properly imposed by an
19 ordinance adopted prior to the time of delivery of alternate
20 bonds. The reference to and acceptance of an audit or
21 report, as the case may be, and the determination of the
22 governing body as to sufficiency of enterprise revenues or a
23 revenue source shall be conclusive evidence that the
24 conditions of this Section have been met and that the
25 alternate bonds are valid.
26 (e) The enterprise revenues or revenue source, as
27 applicable, shall be in fact pledged to the payment of the
28 alternate bonds; and the governing body shall covenant, to
29 the extent it is empowered to do so, to provide for, collect
30 and apply such enterprise revenues or revenue source, as
31 applicable, to the payment of the alternate bonds and the
32 provision of not less than an additional .25 times debt
33 service. The pledge and establishment of rates or charges
34 for enterprise revenues, or the imposition of taxes in a
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1 given rate or amount, as provided in this Section for
2 alternate bonds, shall constitute a continuing obligation of
3 the governmental unit with respect to such establishment or
4 imposition and a continuing appropriation of the amounts
5 received. All covenants relating to alternate bonds and the
6 conditions and obligations imposed by this Section are
7 enforceable by any bondholder of alternate bonds affected,
8 any taxpayer of the governmental unit, and the People of the
9 State of Illinois acting through the Attorney General or any
10 designee, and in the event that any such action results in an
11 order finding that the governmental unit has not properly set
12 rates or charges or imposed taxes to the extent it is
13 empowered to do so or collected and applied enterprise
14 revenues or any revenue source, as applicable, as required by
15 this Act, the plaintiff in any such action shall be awarded
16 reasonable attorney's fees. The intent is that such
17 enterprise revenues or revenue source, as applicable, shall
18 be sufficient and shall be applied to the payment of debt
19 service on such alternate bonds so that taxes need not be
20 levied, or if levied need not be extended, for such payment.
21 Nothing in this Section shall inhibit or restrict the
22 authority of a governing body to determine the lien priority
23 of any bonds, including alternate bonds, which may be issued
24 with respect to any enterprise revenues or revenue source.
25 In the event that alternate bonds shall have been issued
26 and taxes, other than a designated revenue source, shall have
27 been extended pursuant to the general obligation, full faith
28 and credit promise supporting such alternate bonds, then the
29 amount of such alternate bonds then outstanding shall be
30 included in the computation of indebtedness of the
31 governmental unit for purposes of all statutory provisions or
32 limitations until such time as an audit of the governmental
33 unit shall show that the alternate bonds have been paid from
34 the enterprise revenues or revenue source, as applicable,
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1 pledged thereto for a complete fiscal year.
2 Alternate bonds may be issued to refund or advance refund
3 alternate bonds without meeting any of the conditions set
4 forth in this Section, except that the term of the refunding
5 bonds shall not be longer than the term of the refunded bonds
6 and that the debt service payable in any year on the
7 refunding bonds shall not exceed the debt service payable in
8 such year on the refunded bonds.
9 Once issued, alternate bonds shall be and forever remain
10 until paid or defeased the general obligation of the
11 governmental unit, for the payment of which its full faith
12 and credit are pledged, and shall be payable from the levy of
13 taxes as is provided in this Act for general obligation
14 bonds.
15 The changes made by this amendatory Act of 1990 do not
16 affect the validity of bonds authorized before September 1,
17 1990.
18 (Source: P.A. 85-1419; 86-1179.)
19 Section 10. The Property Tax Code is amended by changing
20 Sections 18-205 and 18-210 as follows:
21 (35 ILCS 200/18-205)
22 Sec. 18-205. Referendum to increase the extension
23 limitation. A taxing district is limited to an extension
24 increase of 5% or the percentage increase in the Consumer
25 Price Index during the 12-month calendar year preceding the
26 levy year, whichever is less. A taxing district may increase
27 its extension limitation for a current levy year if that
28 taxing district holds a referendum before the levy date at
29 which a majority of voters voting on the issue approves
30 adoption of a higher extension limitation. Referenda shall
31 be conducted at a regularly scheduled election in accordance
32 with the Election Code provided that notice of the
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1 referendum, if heretofore or hereafter held, has been or
2 shall be given in accordance with the provisions of Section
3 12-5 of the Election Code, at least 10 and not more than 45
4 days before the date of the election, notwithstanding the
5 time for publication otherwise imposed by Section 12-5. The
6 question shall be presented in substantially the following
7 manner:
8 -------------------------------------------------------------
9 Shall the extension limitation
10 under the Property Tax Extension
11 Limitation Law for ... YES
12 (taxing district name) ... be increased
13 from ... (the lesser of 5% or the ------------------
14 increase in the Consumer Price Index over
15 the prior levy year) ...% to ... (percentage NO
16 of proposed increase) ...% for the ...
17 (levy year) ... levy year?
18 -------------------------------------------------------------
19 If a majority of voters voting on the issue approves the
20 adoption of the increase, the increase shall be applicable
21 for the levy year specified.
22 (Source: P.A. 87-17; 88-455.)
23 (35 ILCS 200/18-210)
24 Sec. 18-210. Establishing a new levy. Except as provided
25 in Section 18-215, as it relates to a transfer of a service,
26 before a county clerk may extend taxes for funds subject to
27 the limitations of this Law, a new taxing district or a
28 taxing district with an aggregate extension base of zero
29 shall hold a referendum establishing a maximum aggregate
30 extension for the levy year. The maximum aggregate extension
31 is established for the current levy year if a taxing district
32 has held a referendum before the levy date at which the
33 majority voting on the issue approves its adoption. The
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1 referendum under this Section may be held at the same time as
2 the referendum on creating a new taxing district. The
3 question shall be submitted to the voters at a regularly
4 scheduled election in accordance with the Election Code
5 provided that notice of referendum, if heretofore or
6 hereafter held, has been or shall be given in accordance with
7 the provisions of Section 12-5 of the Election Code, at least
8 10 and not more than 45 days before the date of the election,
9 notwithstanding the time for publication otherwise imposed by
10 Section 12-5. The question shall be submitted in
11 substantially the following form manner:
12 -------------------------------------------------------------
13 Under the Property Tax Extension
14 Limitation Law, may an YES
15 aggregate extension not to exceed ...
16 (aggregate extension amount) ... ---------------------
17 be made for the ... (taxing
18 district name) ... for the NO
19 ... (levy year) ... levy year?
20 -------------------------------------------------------------
21 If a majority of voters voting on the increase approves the
22 adoption of the aggregate extension, the extension shall be
23 effective for the levy year specified.
24 (Source: P.A. 87-17; 88-455.)
25 Section 15. The Illinois Pension Code is amended by
26 changing Section 3-145 as follows:
27 (40 ILCS 5/3-145) (from Ch. 108 1/2, par. 3-145)
28 Sec. 3-145. Referendum in municipalities less than
29 5,000. This Article shall not be effective in any
30 municipality having a population of less than 5,000 unless
31 the proposition to adopt the Article is submitted to and
32 approved by the voters of the municipality in the manner
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1 herein provided.
2 Whenever the electors of the municipality, equal in
3 number to 5% of the number of legal votes cast at the last
4 preceding general municipal election, petition the city,
5 village or town clerk to submit the proposition whether that
6 municipality shall adopt this Article, the officer to whom
7 the petition is addressed shall certify the proposition to
8 the proper election officials who shall submit the
9 proposition in accordance with the general election law at a
10 regular election in the municipality provided that notice of
11 the referendum, if heretofore or hereafter held, has been or
12 shall be given in accordance with the provisions of Section
13 12-5 of the Election Code, at least 10 and not more than 45
14 days before the date of the election, notwithstanding the
15 time for publication otherwise imposed by Section 12-5. If
16 the proposition is not adopted at that election, it may be
17 submitted in like manner at any regular election thereafter.
18 The proposition shall be substantially in the following form:
19 -------------------------------------------------------------
20 Shall the city (or village or
21 incorporated town) of.... adopt YES
22 Article 3 of the "Illinois Pension -----------------------
23 Code", pertaining to the creation NO
24 of a police pension fund?
25 -------------------------------------------------------------
26 If a majority of the votes cast on the proposition is for the
27 proposition, this Article is adopted in that municipality.
28 (Source: P.A. 83-1440.)
29 Section 20. The Illinois Municipal Code is amended by
30 changing Section 8-4-1 as follows:
31 (65 ILCS 5/8-4-1) (from Ch. 24, par. 8-4-1)
32 Sec. 8-4-1. No bonds shall be issued by the corporate
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1 authorities of any municipality until the question of
2 authorizing such bonds has been submitted to the electors of
3 that municipality provided that notice of the bond
4 referendum, if heretofore or hereafter held, has been or
5 shall be given in accordance with the provisions of Section
6 12-5 of the Election Code, at least 10 and not more than 45
7 days before the date of the election, notwithstanding the
8 time for publication otherwise imposed by Section 12-5, and
9 approved by a majority of the electors voting upon that
10 question. The clerk shall certify the proposition of the
11 corporate authorities to the proper election authority who
12 shall submit the question at an election in accordance with
13 the general election law, subject to the notice provisions
14 set forth in this Section.
15 Notice of any such election shall contain the amount of
16 the bond issue, purpose for which issued, and maximum rate of
17 interest.
18 However, without the submission of the question of
19 issuing bonds to the electors, the corporate authorities of
20 any municipality may authorize the issuance of any of the
21 following bonds:
22 (1) Bonds to refund any existing bonded indebtedness;
23 (2) Bonds to fund or refund any existing judgment
24 indebtedness;
25 (3) In any municipality of less than 500,000 population,
26 bonds to anticipate the collection of installments of special
27 assessments and special taxes against property owned by the
28 municipality and to anticipate the collection of the amount
29 apportioned to the municipality as public benefits under
30 Article 9;
31 (4) Bonds issued by any municipality under Sections
32 8-4-15 through 8-4-23, 11-23-1 through 11-23-12, 11-25-1
33 through 11-26-6, 11-71-1 through 11-71-10, 11-74.4-1 through
34 11-74.4-11, 11-74.5-1 through 11-74.5-15, 11-94-1 through
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1 11-94-7, 11-102-1 through 11-102-10, 11-103-11 through
2 11-103-15, 11-118-1 through 11-118-6, 11-119-1 through
3 11-119-5, 11-129-1 through 11-129-7, 11-133-1 through
4 11-133-4, 11-139-1 through 11-139-12, 11-141-1 through
5 11-141-18 of this Code or 10-801 through 10-808 of the
6 Illinois Highway Code, as amended;
7 (5) Bonds issued by the board of education of any school
8 district under the provisions of Sections 34-30 through 34-36
9 of The School Code, as amended;
10 (6) Bonds issued by any municipality under the
11 provisions of Division 6 of this Article 8; and by any
12 municipality under the provisions of Division 7 of this
13 Article 8; or under the provisions of Sections 11-121-4 and
14 11-121-5;
15 (7) Bonds to pay for the purchase of voting machines by
16 any municipality that has adopted Article 24 of The Election
17 Code, approved May 11, 1943, as amended;
18 (8) Bonds issued by any municipality under Sections 15
19 and 46 of the "Environmental Protection Act", approved June
20 29, 1970;
21 (9) Bonds issued by the corporate authorities of any
22 municipality under the provisions of Section 8-4-25 of this
23 Article 8;
24 (10) Bonds issued under Section 8-4-26 of this Article 8
25 by any municipality having a board of election commissioners;
26 (11) Bonds issued under the provisions of "An Act to
27 provide the manner of levying or imposing taxes for the
28 provision of special services to areas within the boundaries
29 of home rule units and nonhome rule municipalities and
30 counties", approved September 21, 1973;
31 (12) Bonds issued under Section 8-5-16 of this Code;
32 (13) Bonds to finance the cost of the acquisition,
33 construction or improvement of water or wastewater treatment
34 facilities mandated by an enforceable compliance schedule
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1 developed in connection with the federal Clean Water Act or a
2 compliance order issued by the United States Environmental
3 Protection Agency or the Illinois Pollution Control Board;
4 provided that such bonds are authorized by an ordinance
5 adopted by a three-fifths majority of the corporate
6 authorities of the municipality issuing the bonds which
7 ordinance shall specify that the construction or improvement
8 of such facilities is necessary to alleviate an emergency
9 condition in such municipality;
10 (14) Bonds issued by any municipality pursuant to
11 Section 11-113.1-1;
12 (15) Bonds issued under Sections 11-74.6-1 through
13 11-74.6-45, the Industrial Jobs Recovery Law of this Code.
14 (Source: P.A. 90-706, eff. 8-7-98.)
15 Section 25. The Public Library District Act of 1991 is
16 amended by changing Section 40-15 as follows:
17 (75 ILCS 16/40-15)
18 Sec. 40-15. Voter approval of bonds.
19 (a) Bonds shall not be issued, nor the special tax
20 imposed, until the proposition to issue the bonds has been
21 submitted to and approved by a majority of the voters of the
22 district voting upon the proposition at a regular election
23 provided that notice of the bond referendum, if heretofore or
24 hereafter held, has been or shall be given in accordance with
25 the provisions of Section 12-5 of the Election Code, at least
26 10 and not more than 45 days before the date of the election,
27 notwithstanding the time for publication otherwise imposed by
28 Section 12-5. The board shall by ordinance designate the
29 election at which the proposition is to be submitted and the
30 amount of the bonds and their purpose. The board shall
31 certify the proposition to the proper election authority, who
32 shall submit the proposition in accordance with the Election
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1 Code, subject to the notice provisions set forth in this
2 Section.
3 (b) The proposition to issue bonds shall be in
4 substantially the following form:
5 Shall the bonds of (name of public library
6 district), (location), Illinois, in the amount of
7 $(amount) be issued for the purpose of (state one or more
8 purposes authorized in Section 40-5)?
9 (c) When so authorized, the bonds shall be issued in the
10 name of the district, signed by the president and secretary,
11 and countersigned by the treasurer, with the seal of the
12 district affixed.
13 (Source: P.A. 87-1277.)
14 Section 30. The School Code is amended by changing
15 Section 19-3 as follows:
16 (105 ILCS 5/19-3) (from Ch. 122, par. 19-3)
17 Sec. 19-3. Boards of education. Any school district
18 governed by a board of education and having a population of
19 not more than 500,000 inhabitants, and not governed by a
20 special Act may borrow money for the purpose of building,
21 equipping, altering or repairing school buildings or
22 purchasing or improving school sites, or acquiring and
23 equipping playgrounds, recreation grounds, athletic fields,
24 and other buildings or land used or useful for school
25 purposes or for the purpose of purchasing a site, with or
26 without a building or buildings thereon, or for the building
27 of a house or houses on such site, or for the building of a
28 house or houses on the school site of the school district,
29 for residential purposes of the superintendent, principal, or
30 teachers of the school district, and issue its negotiable
31 coupon bonds therefor signed by the president and secretary
32 of the board, in denominations of not less than $100 nor more
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1 than $5,000, payable at such place and at such time or times,
2 not exceeding 20 years from date of issuance, as the board of
3 education may prescribe, and bearing interest at a rate not
4 to exceed the maximum rate authorized by the Bond
5 Authorization Act, as amended at the time of the making of
6 the contract, payable annually, semiannually or quarterly,
7 but no such bonds shall be issued unless the proposition to
8 issue them is submitted to the voters of the district at a
9 referendum held at a regularly scheduled election after the
10 board has certified the proposition to the proper election
11 authorities in accordance with the general election law, a
12 majority of all the votes cast on the proposition is in favor
13 of the proposition, and notice of such bond referendum (if
14 heretofore or hereafter held at any general election) has
15 been given either (i) in accordance with the second paragraph
16 of Section 12-1 of the Election Code irrespective of any
17 other requirements of the Election Code and irrespective of
18 whether such notice included any reference to the public
19 question as it appeared on the ballot, or (ii) for an
20 election held on or after November 1, 1998, in accordance
21 with Section 12-5 of the Election Code, or (iii) by
22 publication of and a true and legible copy of the specimen
23 ballot label containing the proposition (if heretofore or
24 hereafter submitted to the voters of the district at any
25 general election) in the form in which it appeared or will
26 appear on the official ballot label on the day of the
27 election has been published at least 5 days before the day
28 of the election in at least one newspaper published in and
29 having a general circulation in each county in which the
30 district is located, irrespective of any other requirements
31 of Article 12 or Section 24A-18 of the Election Code, nor
32 shall any residential site be acquired unless such
33 proposition to acquire a site is submitted to the voters of
34 the district at a referendum held at a regularly scheduled
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1 election after the board has certified the proposition to the
2 proper election authorities in accordance with the general
3 election law and a majority of all the votes cast on the
4 proposition is in favor of the proposition. Nothing in this
5 Act or in any other law shall be construed as to require the
6 notice of the bond referendum to be published over the name
7 or title of the election authority or the listing of maturity
8 dates of any bonds either in the notice of bond election or
9 ballot used in the bond election. Such proposition may be
10 initiated by resolution of the school board.
11 With respect to instruments for the payment of money
12 issued under this Section either before, on, or after the
13 effective date of this amendatory Act of 1989, it is and
14 always has been the intention of the General Assembly (i)
15 that the Omnibus Bond Acts are and always have been
16 supplementary grants of power to issue instruments in
17 accordance with the Omnibus Bond Acts, regardless of any
18 provision of this Act that may appear to be or to have been
19 more restrictive than those Acts, (ii) that the provisions of
20 this Section are not a limitation on the supplementary
21 authority granted by the Omnibus Bond Acts, and (iii) that
22 instruments issued under this Section within the
23 supplementary authority granted by the Omnibus Bond Acts are
24 not invalid because of any provision of this Act that may
25 appear to be or to have been more restrictive than those
26 Acts.
27 The proceeds of any bonds issued under authority of this
28 Section shall be deposited and accounted for separately
29 within the Site and Construction/Capital Improvements Fund.
30 (Source: P.A. 89-698, eff. 1-14-97.)
31 Section 99. Effective date. This Act takes effect upon
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1 becoming law.