State of Illinois
92nd General Assembly
Legislation

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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    $6,078,847,592  is 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 $1,710,255,446  for  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 $1,542,970,160 for  correctional
24        purposes at State prison and correctional centers;
25             (c)  $496,685,786   $470,941,786  for  open  spaces,
26        recreational and conservation purposes and the protection
27        of land;
28             (d)  $556,926,486  $536,280,486   for   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  $1,129,599,341  for  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 $186,657,796  for  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 $337,584,200 to 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 $80,800,000 for 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    $5,312,270,000 is 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 $3,431,000,000  for  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  $3,641,000  for  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  $57,894,500  for  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   $262,815,000   is
 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  $163,200,000  is  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, and
30    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; and
18        (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.

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