Illinois General Assembly - Full Text of Public Act 093-0874
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Public Act 093-0874


 

Public Act 0874 93RD GENERAL ASSEMBLY




 


 
Public Act 093-0874
 
SB1914 Enrolled LRB093 08746 RCE 08976 b

    AN ACT in relation to economic development.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. Short title. This Act may be cited as the
Western Illinois Economic Development Authority Act.
 
    Section 10. Findings. The General Assembly determines and
declares the following:
    (1) that labor surplus areas currently exist in western
Illinois;
    (2) that the economic burdens resulting from involuntary
unemployment fall, in part, upon the State in the form of
increased need for public assistance and reduced tax revenues
and, in the event that the unemployed worker and his or her
family migrate elsewhere to find work, the burden may also fall
upon the municipalities and other taxing districts within the
areas of unemployment in the form of reduced tax revenues,
thereby endangering their financial ability to support
necessary governmental services for their remaining
inhabitants;
    (3) that the State has a responsibility to help create a
favorable climate for new and improved job opportunities for
its citizens by encouraging the development of commercial and
service businesses and industrial and manufacturing plants
within the western region of Illinois;
    (4) that a lack of decent housing contributes to urban
blight, crime, anti-social behavior, disease, a higher need for
public assistance, reduced tax revenues, and the migration of
workers and their families away from areas which fail to offer
adequate, decent, and affordable housing;
    (5) that decent, affordable housing is a necessary
ingredient of life affording each citizen basic human dignity,
a sense of self-worth, confidence, and a firm foundation upon
which to build a family and educate children;
    (6) that in order to foster civic and neighborhood pride,
citizens require access to educational institutions,
recreation, parks and open spaces, entertainment, sports, a
reliable transportation network, cultural facilities, and
theaters; and
    (7) that the main purpose of this Act is to promote
industrial, commercial, residential, service, transportation,
and recreational activities and facilities, thereby reducing
the evils attendant upon unemployment and enhancing the public
health, safety, morals, happiness, and general welfare of the
State.
 
    Section 15. Definitions. In this Act:
    "Authority" means the Western Illinois Economic
Development Authority.
    "Governmental agency" means any federal, State, or local
governmental body and any agency or instrumentality thereof,
corporate or otherwise.
    "Person" means any natural person, firm, partnership,
corporation, both domestic and foreign, company, association
or joint stock association and includes any trustee, receiver,
assignee or personal representative thereof.
    "Revenue bond" means any bond issued by the Authority, the
principal and interest of which is payable solely from revenues
or income derived from any project or activity of the
Authority.
    "Board" means the Board of Directors of the Western
Illinois Economic Development Authority.
    "Governor" means the Governor of the State of Illinois.
    "City" means any city, village, incorporated town, or
township within the geographical territory of the Authority.
    "Industrial project" means the following:
    (1) a capital project, including one or more buildings and
other structures, improvements, machinery and equipment
whether or not on the same site or sites now existing or
hereafter acquired, suitable for use by any manufacturing,
industrial, research, transportation or commercial enterprise
including but not limited to use as a factory, mill, processing
plant, assembly plant, packaging plant, fabricating plant,
ethanol plant, office building, industrial distribution
center, warehouse, repair, overhaul or service facility,
freight terminal, research facility, test facility, railroad
facility, port facility, solid waste and wastewater treatment
and disposal sites and other pollution control facilities,
resource or waste reduction, recovery, treatment and disposal
facilities, and including also the sites thereof and other
rights in land therefore whether improved or unimproved, site
preparation and landscaping and all appurtenances and
facilities incidental thereto such as utilities, access roads,
railroad sidings, truck docking and similar facilities,
parking facilities, dockage, wharfage, railroad roadbed,
track, trestle, depot, terminal, switching and signaling
equipment or related equipment and other improvements
necessary or convenient thereto; or
    (2) any land, buildings, machinery or equipment comprising
an addition to or renovation, rehabilitation or improvement of
any existing capital project.
    "Commercial project" means any project, including, but not
limited to, one or more buildings and other structures,
improvements, machinery, and equipment, whether or not on the
same site or sites now existing or hereafter acquired, suitable
for use by any retail or wholesale concern, distributorship, or
agency.
    "Project" means an industrial, housing, residential,
commercial, or service project, or any combination thereof,
provided that all uses fall within one of the categories
described above. Any project automatically includes all site
improvements and new construction involving sidewalks, sewers,
solid waste and wastewater treatment and disposal sites and
other pollution control facilities, resource or waste
reduction, recovery, treatment and disposal facilities, parks,
open spaces, wildlife sanctuaries, streets, highways, and
runways.
    "Lease agreement" means an agreement in which a project
acquired by the Authority by purchase, gift, or lease is leased
to any person or corporation that will use, or cause the
project to be used, as a project, upon terms providing for
lease rental payments at least sufficient to pay, when due, all
principal of and interest and premium, if any, on any bonds,
notes, or other evidences of indebtedness of the Authority,
issued with respect to the project, providing for the
maintenance, insurance, and operation of the project on terms
satisfactory to the Authority and providing for disposition of
the project upon termination of the lease term, including
purchase options or abandonment of the premises, with other
terms as may be deemed desirable by the Authority.
    "Loan agreement" means any agreement in which the Authority
agrees to loan the proceeds of its bonds, notes, or other
evidences of indebtedness, issued with respect to a project, to
any person or corporation which will use or cause the project
to be used as a project, upon terms providing for loan
repayment installments at least sufficient to pay, when due,
all principal of and interest and premium, if any, on any
bonds, notes, or other evidences of indebtedness of the
Authority issued with respect to the project, providing for
maintenance, insurance, and operation of the project on terms
satisfactory to the Authority and providing for other terms
deemed advisable by the Authority.
    "Financial aid" means the expenditure of Authority funds or
funds provided by the Authority for the development,
construction, acquisition or improvement of a project, through
the issuance of revenue bonds, notes, or other evidences of
indebtedness.
    "Costs incurred in connection with the development,
construction, acquisition or improvement of a project" means
the following:
    (1) the cost of purchase and construction of all lands and
improvements in connection therewith and equipment and other
property, rights, easements, and franchises acquired which are
deemed necessary for the construction;
    (2) financing charges;
    (3) interest costs with respect to bonds, notes, and other
evidences of indebtedness of the Authority prior to and during
construction and for a period of 6 months thereafter;
    (4) engineering and legal expenses; and
    (5) the costs of plans, specifications, surveys, and
estimates of costs and other expenses necessary or incident to
determining the feasibility or practicability of any project,
together with such other expenses as may be necessary or
incident to the financing, insuring, acquisition, and
construction of a specific project and the placing of the same
in operation.
 
    Section 20. Creation.
    (a) There is created a political subdivision, body politic,
and municipal corporation named the Western Illinois Economic
Development Authority. The territorial jurisdiction of the
Authority is that geographic area within the boundaries of the
following counties: Warren, Henderson, Hancock, McDonough,
Fulton, Mason, Cass, Schuyler, Brown, Adams, Scott, Morgan, and
Pike and any navigable waters and air space located therein.
    (b) The governing and administrative powers of the
Authority shall be vested in a body consisting of 21 members as
follows:
        (1) Ex officio members. The Director of Commerce and
    Economic Opportunity, or a designee of that Department, and
    the Director of Central Management Services, or a designee
    of that Department, shall serve as ex officio members.
        (2) Public members. Six members shall be appointed by
    the Governor with the advice and consent of the Senate. The
    county board chairmen of the following counties shall each
    appoint one member: Warren, Henderson, Hancock, McDonough,
    Fulton, Mason, Cass, Schuyler, Brown, Adams, Scott,
    Morgan, and Pike. All public members shall reside within
    the territorial jurisdiction of the Authority. The public
    members shall be persons of recognized ability and
    experience in one or more of the following areas: economic
    development, finance, banking, industrial development,
    state or local government, commercial agriculture, small
    business management, real estate development, community
    development, venture finance, organized labor, or civic or
    community organization.
    (c) 11 members shall constitute a quorum.
    (d) The chairman of the Authority shall be elected annually
by the Board and must be a public member that resides within
the territorial jurisdiction of the Authority.
    (e) The terms of all initial members of the Authority shall
begin 30 days after the effective date of this Act. Of the 6
original public members appointed by the Governor, 2 shall
serve until the third Monday in January, 2005; 1 shall serve
until the third Monday in January, 2006; 1 shall serve until
the third Monday in January, 2007; 1 shall serve until the
third Monday in January, 2008; and 1 shall serve until the
third Monday in January, 2009. The initial terms of the
original public members appointed by the county board chairmen
shall be determined by lot, according to the following
schedule: (i) 3 shall serve until the third Monday in January,
2005, (ii) 3 shall serve until the third Monday in January,
2006, (iii) 3 shall serve until the third Monday in January,
2007, (iv) 2 shall serve until the third Monday in January,
2008, and (v) 2 shall serve until the third Monday in January,
2009. All successors to these original public members shall be
appointed by the original appointing authority and all
appointments made by the Governor shall be made with the advice
and consent of the Senate, pursuant to subsection (b), and
shall hold office for a term of 6 years commencing the third
Monday in January of the year in which their term commences,
except in the case of an appointment to fill a vacancy.
Vacancies occurring among the public members shall be filled
for the remainder of the term. In case of vacancy in a
Governor-appointed membership when the Senate is not in
session, the Governor may make a temporary appointment until
the next meeting of the Senate when a person shall be nominated
to fill the office and, upon confirmation by the Senate, he or
she shall hold office during the remainder of the term and
until a successor is appointed and qualified. Members of the
Authority are not entitled to compensation for their services
as members but are entitled to reimbursement for all necessary
expenses incurred in connection with the performance of their
duties as members.
    (f) The Governor may remove any public member of the
Authority in case of incompetence, neglect of duty, or
malfeasance in office. The chairman of a county board may
remove any public member appointed by that chairman in the case
of incompetence, neglect of duty, or malfeasance in office.
    (g) The Board shall appoint an Executive Director who shall
have a background in finance, including familiarity with the
legal and procedural requirements of issuing bonds, real
estate, or economic development and administration. The
Executive Director shall hold office at the discretion of the
Board. The Executive Director shall be the chief administrative
and operational officer of the Authority, shall direct and
supervise its administrative affairs and general management,
perform such other duties as may be prescribed from time to
time by the members, and receive compensation fixed by the
Authority. The Department of Commerce and Community Affairs
shall pay the compensation of the Executive Director from
appropriations received for that purpose. The Executive
Director shall attend all meetings of the Authority. However,
no action of the Authority shall be invalid on account of the
absence of the Executive Director from a meeting. The Authority
may engage the services of the Illinois Finance Authority,
attorneys, appraisers, engineers, accountants, credit
analysts, and other consultants if the Western Illinois
Economic Development Authority deems it advisable.
 
    Section 25. Duty. All official acts of the Authority shall
require the approval of at least 11 members. It shall be the
duty of the Authority to promote development within the
geographic confines of Warren, Henderson, Hancock, McDonough,
Fulton, Mason, Cass, Schuyler, Brown, Adams, Scott, Morgan, and
Pike counties. The Authority shall use the powers conferred
upon it to assist in the development, construction, and
acquisition of industrial, commercial, housing, or residential
projects within those counties.
 
    Section 30. Powers.
    (a) The Authority possesses all the powers of a body
corporate necessary and convenient to accomplish the purposes
of this Act, including, without any intended limitation upon
the general powers hereby conferred, the following powers:
        (1) to enter into loans, contracts, agreements, and
    mortgages in any matter connected with any of its corporate
    purposes and to invest its funds;
        (2) to sue and be sued;
        (3) to utilize services of the Illinois Finance
    Authority necessary to carry out its purposes;
        (4) to have and use a common seal and to alter the seal
    at its discretion;
        (5) to adopt all needful ordinances, resolutions,
    bylaws, rules, and regulations for the conduct of its
    business and affairs and for the management and use of the
    projects developed, constructed, acquired, and improved in
    furtherance of its purposes;
        (6) to designate the fiscal year for the Authority;
        (7) to accept and expend appropriations;
        (8) to acquire, own, lease, sell, or otherwise dispose
    of interests in and to real property and improvements
    situated on that real property and in personal property
    necessary to fulfill the purposes of the Authority;
        (9) to engage in any activity or operation which is
    incidental to and in furtherance of efficient operation to
    accomplish the Authority's primary purpose;
        (10) to acquire, own, construct, lease, operate, and
    maintain bridges, terminals, terminal facilities, and port
    facilities and to fix and collect just, reasonable, and
    nondiscriminatory charges for the use of such facilities.
    These charges shall be used to defray the reasonable
    expenses of the Authority and to pay the principal and
    interest of any revenue bonds issued by the Authority;
        (11) subject to any applicable condition imposed by
    this Act, to locate, establish and maintain a public
    airport, public airports and public airport facilities
    within its corporate limits or within or upon any body of
    water adjacent thereto and to construct, develop, expand,
    extend and improve any such airport or airport facility;
    and
        (12) to have and exercise all powers and be subject to
    all duties usually incident to boards of directors of
    corporations.
    (b) The Authority shall not issue any bonds relating to the
financing of a project located within the planning and
subdivision control jurisdiction of any municipality or county
unless: (i) notice, including a description of the proposed
project and the financing for that project, is submitted to the
corporate authorities of the municipality or, in the case of a
proposed project in an unincorporated area, to the county board
and (ii) the corporate authorities of the municipality do not,
or the county board does not, adopt a resolution disapproving
the project within 45 days after receipt of the notice.
    (c) If any of the powers set forth in this Act are
exercised within the jurisdictional limits of any
municipality, all ordinances of the municipality remain in full
force and effect and are controlling.
 
    Section 35. Tax avoidance. Notwithstanding any other
provision of law, the Authority shall not enter into any
agreement providing for the purchase and lease of tangible
personal property which results in the avoidance of taxation
under the Retailers' Occupation Tax Act, the Use Tax Act, the
Service Use Tax Act, or the Service Occupation Tax Act, without
the prior written consent of the Governor.
 
    Section 40. Bonds.
    (a) The Authority, with the written approval of the
Governor, shall have the continuing power to issue bonds,
notes, or other evidences of indebtedness in an aggregate
amount not to exceed $250,000,000 for the following purposes:
(i) development, construction, acquisition, or improvement of
projects, including those established by business entities
locating or expanding property within the territorial
jurisdiction of the Authority; (ii) entering into venture
capital agreements with businesses locating or expanding
within the territorial jurisdiction of the Authority; (iii)
acquisition and improvement of any property necessary and
useful in connection therewith; and (iv) for the purposes of
the Employee Ownership Assistance Act. For the purpose of
evidencing the obligations of the Authority to repay any money
borrowed, the Authority may, pursuant to resolution, from time
to time, issue and dispose of its interest-bearing revenue
bonds, notes, or other evidences of indebtedness and may also
from time to time issue and dispose of such bonds, notes, or
other evidences of indebtedness to refund, at maturity, at a
redemption date or in advance of either, any bonds, notes, or
other evidences of indebtedness pursuant to redemption
provisions or at any time before maturity. All such bonds,
notes, or other evidences of indebtedness shall be payable
solely and only from the revenues or income to be derived from
loans made with respect to projects, from the leasing or sale
of the projects, or from any other funds available to the
Authority for such purposes. The bonds, notes, or other
evidences of indebtedness may bear such date or dates, may
mature at such time or times not exceeding 40 years from their
respective dates, may bear interest at such rate or rates not
exceeding the maximum rate permitted by the Bond Authorization
Act, may be in such form, may carry such registration
privileges, may be executed in such manner, may be payable at
such place or places, may be made subject to redemption in such
manner and upon such terms, with or without premium, as is
stated on the face thereof, may be authenticated in such manner
and may contain such terms and covenants as may be provided by
an applicable resolution.
    (b) The holder or holders of any bonds, notes, or other
evidences of indebtedness issued by the Authority may bring
suits at law or proceedings in equity to compel the performance
and observance by any corporation or person or by the Authority
or any of its agents or employees of any contract or covenant
made with the holders of the bonds, notes, or other evidences
of indebtedness, to compel such corporation, person, the
Authority, and any of its agents or employees to perform any
duties required to be performed for the benefit of the holders
of the bonds, notes, or other evidences of indebtedness by the
provision of the resolution authorizing their issuance and to
enjoin the corporation, person, the Authority, and any of its
agents or employees from taking any action in conflict with any
contract or covenant.
    (c) If the Authority fails to pay the principal of or
interest on any of the bonds or premium, if any, as the bond
becomes due, a civil action to compel payment may be instituted
in the appropriate circuit court by the holder or holders of
the bonds on which the default of payment exists or by an
indenture trustee acting on behalf of the holders. Delivery of
a summons and a copy of the complaint to the chairman of the
Board shall constitute sufficient service to give the circuit
court jurisdiction over the subject matter of the suit and
jurisdiction over the Authority and its officers named as
defendants for the purpose of compelling such payment. Any
case, controversy, or cause of action concerning the validity
of this Act relates to the revenue of the State of Illinois.
    (d) Notwithstanding the form and tenor of any bond, note,
or other evidence of indebtedness and in the absence of any
express recital on its face that it is non-negotiable, all such
bonds, notes, and other evidences of indebtedness shall be
negotiable instruments. Pending the preparation and execution
of any bonds, notes, or other evidences of indebtedness,
temporary bonds, notes, or evidences of indebtedness may be
issued as provided by ordinance.
    (e) To secure the payment of any or all of such bonds,
notes, or other evidences of indebtedness, the revenues to be
received by the Authority from a lease agreement or loan
agreement shall be pledged, and, for the purpose of setting
forth the covenants and undertakings of the Authority in
connection with the issuance of the bonds, notes, or other
evidences of indebtedness and the issuance of any additional
bonds, notes or other evidences of indebtedness payable from
such revenues, income, or other funds to be derived from
projects, the Authority may execute and deliver a mortgage or
trust agreement. A remedy for any breach or default of the
terms of any mortgage or trust agreement by the Authority may
be by mandamus proceeding in the appropriate circuit court to
compel performance and compliance under the terms of the
mortgage or trust agreement, but the trust agreement may
prescribe by whom or on whose behalf the action may be
instituted.
    (f) Bonds or notes shall be secured as provided in the
authorizing ordinance which may include, notwithstanding any
other provision of this Act, in addition to any other security,
a specific pledge, assignment of and lien on, or security
interest in any or all revenues or money of the Authority, from
whatever source, which may, by law, be used for debt service
purposes and a specific pledge, or assignment of and lien on,
or security interest in any funds or accounts established or
provided for by ordinance of the Authority authorizing the
issuance of the bonds or notes.
    (g) In the event that the Authority determines that moneys
of the Authority will not be sufficient for the payment of the
principal of and interest on its bonds during the next State
fiscal year, the chairman, as soon as practicable, shall
certify to the Governor the amount required by the Authority to
enable it to pay the principal of and interest on the bonds.
The Governor shall submit the certified amount to the General
Assembly as soon as practicable, but no later than the end of
the current State fiscal year. This Section shall not apply to
any bonds or notes to which the Authority determines, in the
resolution authorizing the issuance of the bonds or notes, that
this Section shall not apply. Whenever the Authority makes this
determination, it shall be plainly stated on the face of the
bonds or notes and the determination shall also be reported to
the Governor. In the event of a withdrawal of moneys from a
reserve fund established with respect to any issue or issues of
bonds of the Authority to pay principal or interest on those
bonds, the chairman of the Authority, as soon as practicable,
shall certify to the Governor the amount required to restore
the reserve fund to the level required in the resolution or
indenture securing those bonds. The Governor shall submit the
certified amount to the General Assembly as soon as
practicable, but no later than the end of the current State
fiscal year.
    (h) The State of Illinois pledges to and agrees with the
holders of the bonds and notes of the Authority issued pursuant
to this Section that the State will not limit or alter the
rights and powers vested in the Authority by this Act so as to
impair the terms of any contract made by the Authority with the
holders of bonds or notes or in any way impair the rights and
remedies of those holders until the bonds and notes, together
with interest thereon, with interest on any unpaid installments
of interest, and all costs and expenses in connection with any
action or proceedings by or on behalf of the holders, are fully
met and discharged. In addition, the State pledges to and
agrees with the holders of the bonds and notes of the Authority
issued pursuant to this Section that the State will not limit
or alter the basis on which State funds are to be paid to the
Authority as provided in this Act, or the use of such funds, so
as to impair the terms of any such contract. The Authority is
authorized to include these pledges and agreements of the State
in any contract with the holders of bonds or notes issued
pursuant to this Section.
    (i) Not less than 30 days prior to the commitment to issue
bonds, notes, or other evidences of indebtedness for the
purpose of developing, constructing, acquiring, or improving
housing or residential projects, as defined in this Act, the
Authority shall provide notice to the Executive Director of the
Illinois Housing Development Authority. Within 30 days after
the notice is provided, the Illinois Housing Development
Authority shall, in writing, either express interest in
financing the project or notify the Authority that it is not
interested in providing financing and that the Authority may
finance the project or seek alternative financing.
 
    Section 45. Bonds and notes; exemption from taxation. The
creation of the Authority is in all respects for the benefit of
the people of Illinois and for the improvement of their health,
safety, welfare, comfort, and security, and its purposes are
public purposes. In consideration thereof, the notes and bonds
of the Authority issued pursuant to this Act and the income
from these notes and bonds may be free from all taxation by the
State or its political subdivisions, exempt for estate,
transfer, and inheritance taxes. The exemption from taxation
provided by the preceding sentence shall apply to the income on
any notes or bonds of the Authority only if the Authority in
its sole judgment determines that the exemption enhances the
marketability of the bonds or notes or reduces the interest
rates that would otherwise be borne by the bonds or notes. For
purposes of Section 250 of the Illinois Income Tax Act, the
exemption of the Authority shall terminate after all of the
bonds have been paid. The amount of such income that shall be
added and then subtracted on the Illinois income tax return of
a taxpayer, subject to Section 203 of the Illinois Income Tax
Act, from federal adjusted gross income or federal taxable
income in computing Illinois base income shall be the interest
net of any bond premium amortization.
 
    Section 50. Acquisition.
    (a) The Authority may, but need not, acquire title to any
project with respect to which it exercises its authority.
    (b) The Authority shall have power to acquire by purchase,
lease, gift, or otherwise any property or rights therein from
any person or persons, the State of Illinois, any municipal
corporation, any local unit of government, the government of
the United States and any agency or instrumentality of the
United States, any body politic, or any county useful for its
purposes, whether improved for the purposes of any prospective
project or unimproved. The Authority may also accept any
donation of funds for its purposes from any of these sources.
    (c) The Authority shall have power to develop, construct,
and improve, either under its own direction or through
collaboration with any approved applicant, or to acquire,
through purchase or otherwise, any project, using for this
purpose the proceeds derived from its sale of revenue bonds,
notes, or other evidences of indebtedness or governmental loans
or grants and shall have the power to hold title to those
projects in the name of the Authority.
    (d) The Authority shall have the power to enter into
intergovernmental agreements with the State of Illinois, the
counties of Warren, Henderson, Hancock, McDonough, Fulton,
Mason, Cass, Schuyler, Brown, Adams, Scott, Morgan, or Pike,
the Illinois Development Finance Authority, the Illinois
Housing Development Authority, the Illinois Education
Facilities Authority, the Illinois Farm Development Authority,
the Rural Bond Bank, the United States government and any
agency or instrumentality of the United States, any unit of
local government located within the territory of the Authority,
or any other unit of government to the extent allowed by
Article VII, Section 10 of the Illinois Constitution and the
Intergovernmental Cooperation Act.
    (e) The Authority shall have the power to share employees
with other units of government, including agencies of the
United States, agencies of the State of Illinois, and agencies
or personnel of any unit of local government.
    (f) The Authority shall have the power to exercise powers
and issue bonds as if it were a municipality so authorized in
Divisions 12.1, 74, 74.1, 74.3, and 74.5 of Article 11 of the
Illinois Municipal Code.
 
    Section 55. Enterprise zones. The Authority may by
ordinance designate a portion of the territorial jurisdiction
of the Authority for certification as an Enterprise Zone under
the Illinois Enterprise Zone Act in addition to any other
enterprise zones which may be created under that Act, which
area shall have all the privileges and rights of an Enterprise
Zone pursuant to the Illinois Enterprise Zone Act, but which
shall not be counted in determining the number of Enterprise
Zones to be created in any year pursuant to that Act.
 
    Section 60. Designation of depository. The Authority shall
biennially designate a national or State bank or banks as
depositories of its money. Such depositories shall be
designated only within the State and upon condition that bonds
approved as to form and surety by the Authority and at least
equal in amount to the maximum sum expected to be on deposit at
any one time shall be first given by such depositories to the
Authority, such bonds to be conditioned for the safe keeping
and prompt repayment of such deposits. When any of the funds of
the Authority shall be deposited by the treasurer in any such
depository, the treasurer and the sureties on his official bond
shall, to such extent, be exempt from liability for the loss of
any such deposited funds by reason of the failure, bankruptcy,
or any other act or default of such depository; provided that
the Authority may accept assignments of collateral by any
depository of its funds to secure such deposits to the same
extent and conditioned in the same manner as assignments of
collateral are permitted by law to secure deposits of the funds
of any city.
 
    Section 65. Taxation prohibited. The Authority shall have
no right or authority to levy any tax or special assessment, to
pledge the credit of the State or any other subdivision or
municipal corporation thereof, or to incur any obligation
enforceable upon any property, either within or without the
territory of the Authority.
 
    Section 70. Fees. The Authority may collect fees and
charges in connection with its loans, commitments, and
servicing and may provide technical assistance in the
development of the region.
 
    Section 75. Reports. The Authority shall annually submit a
report of its finances to the Auditor General. The Authority
shall annually submit a report of its activities to the
Governor and to the General Assembly.
 
    Section 95. The Tri-City Regional Port District Act is
amended by changing Section 4 as follows:
 
    (70 ILCS 1860/4)  (from Ch. 19, par. 287)
    Sec. 4. The Port District has the following rights and
powers:
    1. To issue permits: for the construction of all wharves,
piers, dolphins, booms, weirs, breakwaters, bulkheads,
jetties, bridges or other structures of any kind, over, under,
in, or within 40 feet of any navigable waters within the Port
District; for the deposit of rock, earth, sand or other
material, or any matter of any kind or description in such
waters; except that nothing contained in this paragraph 1 shall
be construed so that it will be deemed necessary to obtain a
permit from the District for the erection, operation or
maintenance of any bridge crossing a waterway which serves as a
boundary between the State of Illinois and any other State,
when such erection, operation or maintenance is performed by
any city within the District;
    2. To prevent or remove obstructions in navigable waters,
including the removal of wrecks;
    3. To locate and establish dock lines and shore or harbor
lines;
    4. To regulate the anchorage, moorage and speed of water
borne vessels and to establish and enforce regulations for the
operation of bridges, except nothing contained in this
paragraph 4 shall be construed to give the District authority
to regulate the operation of any bridge crossing a waterway
which serves as a boundary between the State of Illinois and
any other State, when such operation is performed or to be
performed by any city within the District;
    5. To acquire, own, construct, lease for any period not
exceeding 99 years, operate and maintain terminals, terminal
facilities and port facilities, to fix and collect just,
reasonable, and nondiscriminatory charges for the use of such
facilities, and, except as provided herein for short term
financing, to use the charges so collected to defray the
reasonable expenses of the Port District and to pay the
principal of and interest on any revenue bonds issued by the
District;
    6. To acquire, erect, construct, reconstruct, improve,
maintain, operate and lease in whole or part for any period not
exceeding 99 years, central office or administrative
facilities for use by the Port District, any tenant, occupant
or user of the District facilities, or anyone engaged in
commerce in the District.
    7. To sell, assign, pledge or hypothecate in whole or in
part any contract, lease, income, charges, tolls, rentals or
fees of the District to provide short term interim financing
pending the issuance of revenue bonds by the District, provided
that when such revenue bonds are issued, such contracts,
leases, income, charges, tolls, rentals or fees shall be used
to defray the reasonable expenses of the Port District and pay
the principal of and income on any revenue bonds issued by the
District;
    8. To acquire, own, construct, lease for any period not
exceeding 99 years, operate, develop and maintain Port District
water and sewerage systems including but not limited to pipes,
mains, lines, sewers, pumping stations, settling tanks,
treatment plants, water purification equipment, wells, storage
facilities and all other equipment, material and facilities
necessary to such systems, for the use upon payment of a
reasonable fee as set by the District, of any tenant, occupant
or user of the District facilities, or anyone engaged in
commerce in the District, provided that the District shall not
acquire, own, construct, lease, operate, develop and maintain
such water and sewerage systems if such services can be
provided by a public utility or municipal corporation upon
request of the District, and provided further that if the
District develops its own water and sewerage systems such
systems may be sold or disposed of at anytime to any public
utility or municipal corporation which will continue to service
the Port District.
    9. To create, establish, maintain and operate a public
incinerator for waste disposal by incineration by any means or
method, for use by municipalities for the disposal of municipal
wastes and by industries for the disposal of industrial waste;
and to lease land and said incineration facilities for the
operation of an incinerator for a term not exceeding 99 years
and to fix and collect just, reasonable and non-discriminatory
charges for the use of such incinerating facilities, and to use
the charges or lease proceeds to defray the reasonable expenses
of the Port District, and to pay the principal of and interest
on any revenue bonds issued by the Port District.
    10. To locate, establish and maintain a public airport,
public airports and public airport facilities within its
corporate limits or within or upon any body of water adjacent
thereto, and to construct, develop, expand, extend and improve
any such airport or airport facilities;
    11. To operate, maintain, manage, lease or sublease for any
period not exceeding 99 years, and to make and enter into
contracts for the use, operation or management of, and to
provide rules and regulations for, the operation, management or
use of, any public airport or public airport facility;
    12. To fix, charge and collect reasonable rentals, tolls,
fees, and charges for the use of any public airport, or any
part thereof, or any public airport facility;
    13. To establish, maintain, extend and improve roadways and
approaches by land, water or air to any such airport and to
contract or otherwise provide, by condemnation if necessary,
for the removal of any airport hazard or the removal or
relocation of all private structures, railways, mains, pipes,
conduits, wires, poles, and all other facilities and equipment
which may interfere with the location, expansion, development,
or improvement of airports or with the safe approach thereto or
take-off therefrom by aircraft, and to pay the cost of removal
or relocation; and, subject to the "Airport Zoning Act",
approved July 17, 1945, as amended, to adopt, administer and
enforce airport zoning regulations for territory which is
within its corporate limits or which extends not more than 2
miles beyond its corporate limits;
    14. To restrict the height of any object of natural growth
or structure or structures within the vicinity of any airport
or within the lines of an approach to any airport and, when
necessary, for the reduction in the height of any such existing
object or structure, to enter into an agreement for such
reduction or to accomplish same by condemnation;
    15. To agree with the state or federal governments or with
any public agency in respect to the removal and relocation of
any object of natural growth, airport hazard or any structure
or building within the vicinity of any airport or within an
approach and which is owned or within the control of such
government or agency and to pay all or an agreed portion of the
cost of such removal or relocation;
    16. For the prevention of accidents, for the furtherance
and protection of public health, safety and convenience in
respect to aeronautics, for the protection of property and
persons within the District from any hazard or nuisance
resulting from the flight of aircraft, for the prevention of
interference between, or collision of, aircraft while in flight
or upon the ground, for the prevention or abatement of
nuisances in the air or upon the ground or for the extension or
increase in the usefulness or safety of any public airport or
public airport facility owned by the District, the District may
regulate and restrict the flight of aircraft while within or
above the incorporated territory of the District;
    17. To police its physical property only and all waterways
and to exercise police powers in respect thereto or in respect
to the enforcement of any rule or regulation provided by the
ordinances of the District and to employ and commission police
officers and other qualified persons to enforce the same. The
use of any such public airport or public airport facility of
the District shall be subject to the reasonable regulation and
control of the District and upon such reasonable terms and
conditions as shall be established by its Board. A regulatory
ordinance of the District adopted under any provision of this
Section may provide for a suspension or revocation of any
rights or privileges within the control of the District for a
violation of any such regulatory ordinance. Nothing in this
Section or in other provisions of this Act shall be construed
to authorize such Board to establish or enforce any regulation
or rule in respect to aviation, or the operation or maintenance
of any airport facility within its jurisdiction, which is in
conflict with any federal or state law or regulation applicable
to the same subject matter;
    18. To enter into agreements with the corporate authorities
or governing body of any other municipal corporation or any
political subdivision of this State to pay the reasonable
expense of services furnished by such municipal corporation or
political subdivision for or on account of income producing
properties of the District;
    19. To enter into contracts dealing in any manner with the
objects and purposes of this Act;
    20. To acquire, own, lease, sell or otherwise dispose of
interests in and to real property and improvements situate
thereon and in personal property necessary to fulfill the
purposes of the District;
    21. To designate the fiscal year for the District;
    22. To engage in any activity or operation which is
incidental to and in furtherance of efficient operation to
accomplish the District's primary purpose; .
    23. To apply to proper authorities of the United States of
America pursuant to appropriated Federal Law for the right to
establish, operate, maintain and lease foreign trade zones and
sub-zones within the limits of the Tri-City Regional Port
District or within the jurisdiction of the United States
Customs Service Office of the St. Louis Port of Entry and to
establish, operate, maintain and lease such foreign trade zones
and the sub-zones; .
    24. To operate, maintain, manage, lease, or sublease for
any period not exceeding 99 years any former military base
owned or leased by the District and within its jurisdictional
boundaries, to make and enter into any contract for the use,
operation, or management of any former military base owned or
leased by the District and located within its jurisdictional
boundaries, and to provide rules and regulations for the
development, redevelopment, and expansion of any former
military base owned or leased by the District and located
within its jurisdictional boundaries;
    25. To locate, establish, re-establish, expand or renew,
construct or reconstruct, operate, and maintain any facility,
building, structure, or improvement for a use or a purpose
consistent with any use or purpose of any former military base
owned or leased by the District and located within its
jurisdictional boundaries;
    26. To acquire, own, sell, convey, construct, lease for any
period not exceeding 99 years, manage, operate, expand,
develop, and maintain any telephone system, including, but not
limited to, all equipment, materials, and facilities necessary
or incidental to that telephone system, for use, at the option
of the District and upon payment of a reasonable fee set by the
District, of any tenant or occupant situated on any former
military base owned or leased by the District and located
within its jurisdictional boundaries;
    27. To cause to be incorporated one or more subsidiary
business corporations, wholly owned by the District, to own,
operate, maintain, and manage facilities and services related
to any telephone system, pursuant to paragraph 26. A subsidiary
corporation formed pursuant to this paragraph shall (i) be
deemed a telecommunications carrier, as that term is defined in
Section 13-202 of the Public Utilities Act, (ii) have the right
to apply to the Illinois Commerce Commission for a Certificate
of Service Authority or a Certificate of Interexchange Service
Authority, and (iii) have the powers necessary to carry out
lawful orders of the Illinois Commerce Commission;
    28. To improve, develop, or redevelop any former military
base situated within the boundaries of the District, in Madison
County, Illinois, and acquired by the District from the federal
government, acting by and through the United States Maritime
Administration, pursuant to any plan for redevelopment,
development, or improvement of that military base by the
District that is approved by the United States Maritime
Administration under the terms and conditions of conveyance of
the former military base to the District by the federal
government.
(Source: P.A. 83-690.)
 
    Section 999. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/6/2004