MWRD-LOCAL GOV ASSISTANCE PROG
Synopsis of Bill as introduced:
Amends the Metropolitan Water Reclamation District Act.
Authorizes the District to create a Local Government Assistance
Program for the purpose of making loans to units of local government
to finance improvements to local sewerage systems. Authorizes the
District to issue bonds to finance the program. Provides that the
bonds may be payable from any available revenues of the District,
including loan repayments. Deletes certain provisions relating to the
Local Improvement Revolving Loan Fund and the sale of surplus real
estate. Also makes a technical correction to the list of bonds that
may be issued by the District without referendum, adding a cross
reference to the Section under which construction working cash fund
bonds may be issued. Effective immediately.
SENATE AMENDMENT NO. 1.
Deletes references to alternate bonds. Specifies that the
assistance bonds are revenue bonds. Deletes provision authorizing the
District to pledge revenues.
SENATE AMENDMENT NO. 2.
Deletes a provision authorizing the extension of collection
Last action on Bill: PUBLIC ACT.............................. 90-0690
Last action date: 98-07-31
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2
END OF INQUIRY
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