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| [ Introduced ] | [ Engrossed ] | [ Senate Amendment 002 ] |
92_HB2125enr HB2125 Enrolled LRB9203486MWpk 1 AN ACT concerning general obligation bonds. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The General Obligation Bond Act is amended by 5 changing Sections 1, 2, 3, 4, 6, and 7 as follows: 6 (30 ILCS 330/1) (from Ch. 127, par. 651) 7 Sec. 1. Short Title. This Act shall be known and may be 8 cited as the "General Obligation Bond Act". 9 (Source: P.A. 83-1490.) 10 (30 ILCS 330/2) (from Ch. 127, par. 652) 11 Sec. 2. Authorization for Bonds. The State of Illinois 12 is authorized to issue, sell and provide for the retirement 13 of General Obligation Bonds of the State of Illinois for the 14 categories and specific purposes expressed in Sections 2 15 through 8 of this Act, in the total amount of $15,265,007,500 16$14,197,632,592. 17 The bonds authorized in this Section 2 and in Section 16 18 of this Act are herein called "Bonds". 19 Of the total amount of Bonds authorized in this Act, up 20 to $2,200,000,000 in aggregate original principal amount may 21 be issued and sold in accordance with the Baccalaureate 22 Savings Act in the form of General Obligation College Savings 23 Bonds. 24 Of the total amount of Bonds authorized in this Act, up 25 to $300,000,000 in aggregate original principal amount may be 26 issued and sold in accordance with the Retirement Savings Act 27 in the form of General Obligation Retirement Savings Bonds. 28 The issuance and sale of Bonds pursuant to the General 29 Obligation Bond Act is an economical and efficient method of 30 financing the capital needs of the State. This Act will HB2125 Enrolled -2- LRB9203486MWpk 1 permit the issuance of a multi-purpose General Obligation 2 Bond with uniform terms and features. This will not only 3 lower the cost of registration but also reduce the overall 4 cost of issuing debt by improving the marketability of 5 Illinois General Obligation Bonds. 6 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549, 7 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99; 8 91-53, eff 6-30-99; 91-710, eff. 5-17-00.) 9 (30 ILCS 330/3) (from Ch. 127, par. 653) 10 Sec. 3. Capital Facilities. The amount of $6,626,093,492 11$6,078,847,592is 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) $1,880,077,346$1,710,255,446for educational 18 purposes by State universities and colleges, the Illinois 19 Community College Board created by the Public Community 20 College Act and for grants to public community colleges 21 as authorized by Sections 5-11 and 5-12 of the Public 22 Community College Act; 23 (b) $1,584,450,168$1,542,970,160for correctional 24 purposes at State prison and correctional centers; 25 (c) $496,685,786$470,941,786for open spaces, 26 recreational and conservation purposes and the protection 27 of land; 28 (d) $556,926,486$536,280,486for child care 29 facilities, mental and public health facilities, and 30 facilities for the care of disabled veterans and their 31 spouses; 32 (e) $1,290,153,341$1,129,599,341for use by the 33 State, its departments, authorities, public corporations, HB2125 Enrolled -3- LRB9203486MWpk 1 commissions and agencies; 2 (f) $818,100 for cargo handling facilities at port 3 districts and for breakwaters, including harbor 4 entrances, at port districts in conjunction with 5 facilities for small boats and pleasure crafts; 6 (g) $198,657,796$186,657,796for water resource 7 management projects; 8 (h) $16,940,269 for the provision of facilities for 9 food production research and related instructional and 10 public service activities at the State universities and 11 public community colleges; 12 (i) $36,000,000 for grants by the Secretary of 13 State, as State Librarian, for central library facilities 14 authorized by Section 8 of the Illinois Library System 15 Act and for grants by the Capital Development Board to 16 units of local government for public library facilities; 17 (j) $25,000,000 for the acquisition, development, 18 construction, reconstruction, improvement, financing, 19 architectural planning and installation of capital 20 facilities consisting of buildings, structures, durable 21 equipment and land for grants to counties, municipalities 22 or public building commissions with correctional 23 facilities that do not comply with the minimum standards 24 of the Department of Corrections under Section 3-15-2 of 25 the Unified Code of Corrections; 26 (k) $5,000,000 for grants in fiscal year 1988 by 27 the Department of Conservation for improvement or 28 expansion of aquarium facilities located on property 29 owned by a park district; 30 (l) $367,584,200$337,584,200to State agencies for 31 grants to local governments for the acquisition, 32 financing, architectural planning, development, 33 alteration, installation, and construction of capital 34 facilities consisting of buildings, structures, durable HB2125 Enrolled -4- LRB9203486MWpk 1 equipment, and land; and 2 (m) $167,800,000$80,800,000for the Illinois Open 3 Land Trust Program as defined by the Illinois Open Land 4 Trust Act. 5 The amounts authorized above for capital facilities may 6 be used for the acquisition, installation, alteration, 7 construction, or reconstruction of capital facilities and for 8 the purchase of equipment for the purpose of major capital 9 improvements which will reduce energy consumption in State 10 buildings or facilities. 11 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549, 12 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, 6-15-99; 91-53, 13 eff. 6-30-99; 91-710, eff. 5-17-00.) 14 (30 ILCS 330/4) (from Ch. 127, par. 654) 15 Sec. 4. Transportation. The amount of $5,313,399,000 16$5,312,270,000is authorized for use by the Department of 17 Transportation for the specific purpose of promoting and 18 assuring rapid, efficient, and safe highway, air and mass 19 transportation for the inhabitants of the State by providing 20 monies, including the making of grants and loans, for the 21 acquisition, construction, reconstruction, extension and 22 improvement of the following transportation facilities and 23 equipment, and for the acquisition of real property and 24 interests in real property required or expected to be 25 required in connection therewith as follows: 26 (a) $3,432,129,000$3,431,000,000for State highways, 27 arterial highways, freeways, roads, bridges, structures 28 separating highways and railroads and roads, and bridges on 29 roads maintained by counties, municipalities, townships or 30 road districts for the following specific purposes: 31 (1) $3,330,000,000 for use statewide, 32 (2) $3,677,000$3,641,000for use outside the 33 Chicago urbanized area, HB2125 Enrolled -5- LRB9203486MWpk 1 (3) $7,543,000 for use within the Chicago urbanized 2 area, 3 (4) $13,060,600 for use within the City of Chicago, 4 (5) $58,987,500$57,894,500for use within the 5 counties of Cook, DuPage, Kane, Lake, McHenry and Will, 6 and 7 (6) $18,860,900 for use outside the counties of 8 Cook, DuPage, Kane, Lake, McHenry and Will. 9 (b) $1,529,670,000 for rail facilities and for mass 10 transit facilities, as defined in Section 2705-305 of the 11 Department of Transportation Law (20 ILCS 2705/2705-305), 12 including rapid transit, rail, bus and other equipment used 13 in connection therewith by the State or any unit of local 14 government, special transportation district, municipal 15 corporation or other corporation or public authority 16 authorized to provide and promote public transportation 17 within the State or two or more of the foregoing jointly, for 18 the following specific purposes: 19 (1) $1,433,870,000 statewide, 20 (2) $83,350,000 for use within the counties of 21 Cook, DuPage, Kane, Lake, McHenry and Will, 22 (3) $12,450,000 for use outside the counties of 23 Cook, DuPage, Kane, Lake, McHenry and Will. 24 (c) $351,600,000 for airport or aviation facilities and 25 any equipment used in connection therewith, including 26 engineering and land acquisition costs, by the State or any 27 unit of local government, special transportation district, 28 municipal corporation or other corporation or public 29 authority authorized to provide public transportation within 30 the State, or two or more of the foregoing acting jointly, 31 and for the making of deposits into the Airport Land Loan 32 Revolving Fund for loans to public airport owners pursuant to 33 the Illinois Aeronautics Act. 34 (Source: P.A. 90-8, eff. 12-8-97 (changed from 6-1-98 by P.A. HB2125 Enrolled -6- LRB9203486MWpk 1 90-549); 90-586, eff. 6-4-98; 91-39, eff. 6-15-99; 91-239, 2 eff. 1-1-00; 91-712, eff. 7-1-00.) 3 (30 ILCS 330/6) (from Ch. 127, par. 656) 4 Sec. 6. Anti-Pollution. 5 (a) The amount of $281,815,000$262,815,000is 6 authorized for allocation by the Environmental Protection 7 Agency for grants or loans to units of local government in 8 such amounts, at such times and for such purpose as the 9 Agency deems necessary or desirable for the planning, 10 financing, and construction of municipal sewage treatment 11 works and solid waste disposal facilities and for making of 12 deposits into the Water Revolving Fund and the U.S. 13 Environmental Protection Fund to provide assistance in 14 accordance with the provisions of Title IV-A of the 15 Environmental Protection Act. 16 (b) The amount of $160,500,000 is authorized for 17 allocation by the Environmental Protection Agency for payment 18 of claims submitted to the State and approved for payment 19 under the Leaking Underground Storage Tank Program 20 established in Title XVI of the Environmental Protection Act. 21 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549, 22 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99; 23 91-710, eff. 5-17-00.) 24 (30 ILCS 330/7) (from Ch. 127, par. 657) 25 Sec. 7. Coal and Energy Development. The amount of 26 $663,200,000$163,200,000is authorized to be used by the 27 Department of Commerce and Community Affairs for coal and 28 energy development purposes, pursuant to Sections 2, 3 and 29 3.1 of the Illinois Coal and Energy Development Bond Act,and30 for the purposes specified in Section 8.1 of the Energy 31 Conservation and Coal Development Act, and for the purposes 32 specified in Section 605-332 of the Department of Commerce HB2125 Enrolled -7- LRB9203486MWpk 1 and Community Affairs of the Civil Administrative Code of 2 Illinois. Of this amount: 3 (a) $115,000,000 is for the specific purposes of 4 acquisition, development, construction, reconstruction, 5 improvement, financing, architectural and technical planning 6 and installation of capital facilities consisting of 7 buildings, structures, durable equipment, and land for the 8 purpose of capital development of coal resources within the 9 State and for the purposes specified in Section 8.1 of the 10 Energy Conservation and Coal Development Act;,11 (b) $35,000,000 is for the purposes specified in Section 12 8.1 of the Energy Conservation and Coal Development Act and 13 making a grant to the owner of a generating station located 14 in Illinois and having at least three coal-fired generating 15 units with accredited summer capability greater than 500 16 megawatts each at such generating station as provided in 17 Section 6 of that Bond Act;and18 (c) $13,200,000 is for research, development and 19 demonstration of forms of energy other than that derived from 20 coal, either on or off State property; and 21 (d) $500,000,000 is for the purpose of providing 22 financial assistance to new electric generating facilities as 23 provided in Section 605-332 of the Department of Commerce and 24 Community Affairs Law of the Civil Administrative Code of 25 Illinois. 26 (Source: P.A. 89-445, eff. 2-7-96; 90-312, eff. 8-1-97; 27 90-549, eff. 12-8-97.) 28 Section 99. Effective date. This Act takes effect upon 29 becoming law.