METRO WATER-ELEC SIGN-BONDS
Synopsis of Bill as introduced:
Amends the Metropolitan Water Reclamation District Act. Allows
signatures on contracts or purchase orders involving amounts in excess
of $10,000 to be executed electronically. Amends the Property Tax
Extension Limitation Law in the Property Tax Code. In the definition
of aggregate extension applicable to those taxing districts not
subject to the Law before the 1995 levy year (except for those taxing
districts subject to the law in accordance with Section 18-213 of this
Act), provides that the amount made for payments of principal and
interest on bonds issued under the Metropolitan Water Reclamation
District Act to finance certain construction projects shall not be
deducted in determining the exclusion for payments of principal and
interest on limited bonds in an amount not to exceed the debt service
extension base but rather shall be included with obligations issued
pursuant to referendum.
FISCAL NOTE, ENGROSSED (Dpt. of Revenue)
SB435 will impact local authorities, not the Dpt. of Revenue.
STATE MANDATES FISCAL NOTE (DCCA)
SB 435 fails to create a State mandate.
HOUSE AMENDMENT NO. 1.
Deletes reference to:
70 ILCS 2605/11.10
Deletes amendatory provisions in the Metropolitan Water
Reclamation District Act allowing signatures on contracts or purchase
orders involving amounts in excess of $10,000 to be executed
Last action on Bill: PUBLIC ACT.............................. 90-0485
Last action date: 97-08-17
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status