State of Illinois
92nd General Assembly

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 1        AN ACT in relation to toll highways.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The Toll Highway Act is amended by changing
 5    Section 17  and  adding  Sections  8.1,  16.2,  and  21.1  as
 6    follows:

 7        (605 ILCS 10/8.1 new)
 8        Sec. 8.1.  Inspector General.
 9        (a)  The Authority shall appoint an Inspector General who
10    shall  have  the  authority  to  conduct  investigations into
11    allegations or  incidents  of  waste,  fraud,  and  financial
12    mismanagement  in Authority operations involving an Authority
13    employee or contractor.  The  Inspector  General  shall  make
14    recommendations   to  the  Authority  regarding  his  or  her
15    investigations.  The Inspector General shall be appointed for
16    a  term  of  4  years.   The  Inspector  General   shall   be
17    independent  of  the  operations of the Authority and perform
18    other duties as requested by the Authority.
19        (b)  The Inspector  General  shall  have  access  to  all
20    information  and personnel necessary to perform the duties of
21    the office.  If  the  Inspector  General  determines  that  a
22    possible  criminal  act  has  been  committed or that special
23    expertise is required in the investigation, he or  she  shall
24    immediately  notify  the  State  Police.   All investigations
25    conducted by the Inspector General shall be  conducted  in  a
26    manner  that  ensures the preservation of evidence for use in
27    criminal prosecutions.
28        (c)  At all times, the Inspector General shall be granted
29    access to any building or facility that is  owned,  operated,
30    or leased by the Authority.
31        (d)  The  Inspector  General  shall  have  the  power  to
                            -2-                LRB9206253RCcd
 1    subpoena  witnesses  and  compel  the production of books and
 2    papers pertinent  to  an  investigation  authorized  by  this
 3    Section. A person is guilty of a Class A misdemeanor if he or
 4    she:
 5             (1)  fails to appear in response to a subpoena;
 6             (2)  fails to answer any question;
 7             (3)  fails  to produce any books or papers pertinent
 8        to an investigation under this Section; or
 9             (4)  knowingly  gives  false  testimony  during   an
10        investigation under this Section.
11        (e)  The Inspector General shall provide to the Authority
12    and   the   General   Assembly   a  summary  of  reports  and
13    investigations made  under  this  Section  for  the  previous
14    fiscal  year  no  later  than  January  1  of each year.  The
15    summaries shall detail the final disposition of the Inspector
16    General's recommendations.  The summaries may not contain any
17    confidential  or  identifying  information   concerning   the
18    subjects  of  the  reports and investigations.  The summaries
19    shall  also  include  detailed,  recommended   administrative
20    actions   and   matters  for  consideration  by  the  General
21    Assembly.

22        (605 ILCS 10/16.2 new)
23        Sec. 16.2.  Bond issuance service contracts;  competitive
24    bidding.
25        (a)  All  contracts  for services requiring professional,
26    technical, or artistic skill related to the issuance  of  any
27    bonds,  refunding bonds, or advance refunding bonds, when the
28    amount of those services is in excess of  $25,000,  shall  be
29    let  to  the  lowest  qualified  bidder  or  bidders on open,
30    competitive bidding after public advertisement made at  least
31    5  days  before the opening of bids in a newspaper of general
32    circulation in any city of over 500,000 population or in  any
33    county  through  which the tollway for which the services are
                            -3-                LRB9206253RCcd
 1    required passes, in a manner and on one or more occasions  as
 2    may be prescribed by the Authority.
 3        (b)  If   the   services  required  would  reasonably  be
 4    regarded by persons experienced in the area of those services
 5    as requiring expertise with  novel  or  complex  issues  that
 6    could   reasonably   be  provided  by  only  one  prospective
 7    contractor, the Authority may prescribe  by  rule  procedures
 8    for  the  award  of  the  service  contract  to the qualified
 9    contractor.   The  contractor  shall  provide  the   required
10    service at the most economical cost to the Authority.

11        (605 ILCS 10/17) (from Ch. 121, par. 100-17)
12        Sec.  17.   (a) The Authority may from time to time issue
13    bonds for any lawful purpose including,  without  limitation,
14    the  costs  of  issuance  thereof and all such bonds or other
15    obligations of the Authority  issued  pursuant  to  this  Act
16    shall  be  and  are  hereby declared to be negotiable for all
17    purposes notwithstanding their payment from a limited  source
18    and without regard to any other law or laws.
19        (b)  The bonds of every issue shall be payable solely out
20    of revenues of the Authority, accumulated reserves or sinking
21    funds,   bond  proceeds,  proceeds  of  refunding  bonds,  or
22    investment earnings as the Authority shall specify in a  bond
23    resolution.
24        (c)  The  bonds  may be issued as serial bonds or as term
25    bonds, or the Authority, in its discretion, may  issue  bonds
26    of  both  types.   The  bonds  shall  be authorized by a bond
27    resolution of the Authority, may be issued  in  one  or  more
28    series and shall bear such date or dates, mature at such time
29    or times not exceeding 25 years from their respective date or
30    dates of issue, bear interest at such rate or rates, fixed or
31    variable,  without regard to any limit contained in any other
32    statute or law of the State of Illinois,  be  payable  as  to
33    principal  and  interest  at  such  time or times, be in such
                            -4-                LRB9206253RCcd
 1    denominations, be  in  such  form,  either  coupon  or  fully
 2    registered,    carry   such   registration   and   conversion
 3    privileges, be payable in lawful money of the  United  States
 4    of  America  at  such  places,  be  subject  to such terms of
 5    redemption and may contain such other terms  and  provisions,
 6    as  such  bond  resolution  or  resolutions may provide.  The
 7    bonds shall be executed by the manual or facsimile signatures
 8    of the Chairman and  the  Secretary.   In  case  any  of  the
 9    officers  whose signature appears on the bonds or coupons, if
10    any, shall cease to be an officer before the delivery of such
11    bonds,  such  signature  shall  nevertheless  be  valid   and
12    sufficient  for all purposes, as if he had remained in office
13    until such delivery.  The bonds shall be sold in such  manner
14    as the Authority shall determine.  The proceeds from the sale
15    of  such bonds shall be paid to the Treasurer of the State of
16    Illinois as ex officio custodian. Pending preparation of  the
17    definitive bonds, the Authority may issue interim receipts or
18    certificates  which  shall  be  exchanged for such definitive
19    bonds.
20        (d)  Any bond resolution, or trust indenture entered into
21    pursuant to a bond resolution, may contain provisions,  which
22    shall be a part of the contract with the holders of the bonds
23    to be authorized, as to: (i) pledging or creating a lien upon
24    all or part of the revenues of the Authority or any reserves,
25    sinking funds, bond proceeds or investment earnings; (ii) the
26    setting   aside   of  reserves  or  sinking  funds,  and  the
27    regulation, investment and disposition thereof; (iii) the use
28    and maintenance requirements for the toll highways; (iv)  the
29    purposes to which or the investments in which the proceeds of
30    sale of any series or issue of bonds then or thereafter to be
31    issued  may be applied; (v) the issuance of additional bonds,
32    the terms upon which  additional  bonds  may  be  issued  and
33    secured,  the  purposes  for  such  additional bonds, and the
34    terms upon which additional bonds may rank on a parity  with,
                            -5-                LRB9206253RCcd
 1    or  be  subordinate  or  superior  to  other  bonds; (vi) the
 2    refunding of outstanding bonds; (vii) the procedure, if  any,
 3    by  which  the  terms of any contract with bondholders may be
 4    amended or abrogated, the amount  of  bonds  the  holders  of
 5    which  must  consent  thereto,  and  the manner in which such
 6    consent may be given; (viii) defining the acts  or  omissions
 7    to  act which shall constitute a default in the duties of the
 8    Authority to holders of its  obligations  and  providing  the
 9    rights  and  remedies  of  such  holders  in  the  event of a
10    default; (ix) any other matters relating to the  bonds  which
11    the Authority deems desirable.
12        (e)  Neither  the  directors  of  the  Authority  nor any
13    person executing the bonds shall be liable personally on  the
14    bonds   or   be   subject   to   any  personal  liability  or
15    accountability by reason of the issuance thereof.
16        (f)  The Authority shall have  power  out  of  any  funds
17    available  therefor to purchase its bonds.  The Authority may
18    hold, pledge, cancel or resell such bonds subject to  and  in
19    accordance with agreements with bondholders.
20        (g)  In  the discretion of the Authority any bonds issued
21    under the provisions of this Act may be secured  by  a  trust
22    indenture  by  and  between  the  Authority  and a trustee or
23    trustees, which may be any trust company or bank in the State
24    of  Illinois  having  the  powers  of  a  trust  company  and
25    possessing capital and surplus of not less than $50,000,000.
26    The bond resolution or  trust  indenture  providing  for  the
27    issuance  of  bonds  so secured shall pledge such revenues of
28    the Authority, sinking funds, bond  proceeds,  or  investment
29    earnings  as  may  be  specified  therein,  may  contain such
30    provisions  for  protecting  and  enforcing  the  rights  and
31    remedies of the bondholders as may be reasonable  and  proper
32    and  not  in  violation  of  law, including particularly such
33    provisions as have hereinabove been  specifically  authorized
34    to  be  included in any bond resolution or trust indenture of
                            -6-                LRB9206253RCcd
 1    the Authority, and  may  restrict  the  individual  right  of
 2    action  by  bondholders.   In  addition to the foregoing, any
 3    bond resolution or trust indenture  may  contain  such  other
 4    provisions  as  the  Authority may deem reasonable and proper
 5    for the security  of  the  bondholders,  including,  but  not
 6    limited   to,   the   purchase  of  bond  insurance  and  the
 7    arrangement of letters of credit, lines of  credit  or  other
 8    credit  or  liquidity  enhancement facilities; provided there
 9    shall be no pledge of the toll highway or any  part  thereof.
10    All  expenses  incurred in carrying out the provisions of any
11    bond resolution or trust indenture may be treated as  a  part
12    of the cost of the operation of the toll highways.
13        (h)  Bonds issued under the authority of this Act do not,
14    and  shall state upon the face of each bond that they do not,
15    represent or constitute a debt of the  Authority  or  of  the
16    State of Illinois within the meaning of any constitutional or
17    statutory  limitation  or a pledge of the faith and credit of
18    the Authority or the State  of  Illinois,  or  grant  to  the
19    owners  or holders thereof any right to have the Authority or
20    the General Assembly levy any taxes or appropriate any  funds
21    for the payment of the principal thereof or interest thereon.
22    Such  bonds  shall  be  payable and shall state that they are
23    payable solely from the revenues and the  sources  authorized
24    under  this  Act  and pledged for their payment in accordance
25    with the bond resolution or trust indenture.
26        Nothing in this Act shall be construed to  authorize  the
27    Authority  or  any  department,  board,  commission  or other
28    agency to create an  obligation  of  the  State  of  Illinois
29    within  the  meaning  of  the  Constitution  or  Statutes  of
30    Illinois.
31        (i)  Any  resolution  or  trust indenture authorizing the
32    issuance of the bonds may include provision for the  issuance
33    of  additional  bonds.   All  resolutions of the Authority to
34    carry such adopted bond resolutions into effect,  to  provide
                            -7-                LRB9206253RCcd
 1    for  the  sale  and  delivery  of  the  bonds, for letting of
 2    contracts for the  construction  of  toll  highways  and  the
 3    acquisition  of  real  and  personal  property  deemed by the
 4    Authority  necessary  or  convenient  for  the   construction
 5    thereof, shall not require the approval of the Governor or of
 6    any  other department, division, commission, bureau, board or
 7    other agency of the State.
 8        (j)  The Authority may not issue any bonds to finance new
 9    construction or the  repair  of  any  tollway  without  first
10    applying  all  surplus  revenues not currently needed to meet
11    any obligation of the  Authority  to  the  cost  of  the  new
12    construction or repair project.
13    (Source: P.A. 83-1258.)

14        (605 ILCS 10/21.1 new)
15        Sec. 21.1.  Schedule of conversions.
16        (a)  Recognizing  the  original  intent  of  the  tollway
17    system  and  the  directive of the General Assembly stated in
18    Section 21 that the toll highways and any connecting tunnels,
19    bridges, approaches,  or  other  appurtenances  to  the  toll
20    highways  become part of the system of State highways and are
21    to be maintained and operated free of tolls  once  all  bonds
22    and interest have been paid and all money appropriated by the
23    General   Assembly  has  been  repaid,  the  Authority  shall
24    structure all financing of new toll highway  construction  to
25    facilitate   converting  established  portions  of  the  toll
26    highway  system  to  State  highways.   In   addition,   when
27    refinancing  or  refunding existing debt, the Authority shall
28    enter  into  new  bond  indentures   so   as   to   eliminate
29    restrictions   and   facilitate   conversion  of  established
30    portions of the tollway system into State highways.
31        (b)  In accordance with  subsection  (a),  the  Authority
32    shall, in consultation with the Department of Transportation,
33    submit a report every 2 years to the Governor and the General
                            -8-                LRB9206253RCcd
 1    Assembly  detailing  when  each  portion  of the toll highway
 2    system can be  converted  into  a  State  highway  under  the
 3    Department of Transportation's supervision.

 4        Section  99.   Effective date. This Act shall take effect
 5    upon becoming law.

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