Public Act 90-0586 of the 90th General Assembly
Public Act 90-0586
HB2091 Enrolled LRB9005381THcw
AN ACT to amend the General Obligation Bond Act.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. The General Obligation Bond Act is amended by
changing Sections 2, 3, 4, 6, and 12 as follows:
(30 ILCS 330/2) (from Ch. 127, par. 652)
Sec. 2. Authorization for Bonds. The State of Illinois
is authorized to issue, sell and provide for the retirement
of General Obligation Bonds of the State of Illinois in the
total amount of $10,895,296,392 $10,334,908,392 herein called
"Bonds".
Of the total amount of bonds authorized above, up to
$2,200,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Baccalaureate Savings
Act in the form of General Obligation College Savings Bonds.
Of the total amount of bonds authorized above, up to
$300,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Retirement Savings Act
in the form of General Obligation Retirement Savings Bonds.
The issuance and sale of Bonds pursuant to the General
Obligation Bond Act is an economical and efficient method of
financing the capital needs of the State. This Act will
permit the issuance of a multi-purpose General Obligation
Bond with uniform terms and features. This will not only
lower the cost of registration but also reduce the overall
cost of issuing debt by improving the marketability of
Illinois General Obligation Bonds.
Bonds shall be issued for the categories and specific
purposes expressed in Sections 2 through 8 and Section 16 of
this Act.
(Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
eff. 12-8-97.)
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital Facilities. The amount of $4,335,266,392
$3,846,083,392 is authorized to be used for the acquisition,
development, construction, reconstruction, improvement,
financing, architectural planning and installation of capital
facilities within the State, consisting of buildings,
structures, durable equipment, land, and interests in land
for the following specific purposes:
(a) $1,189,517,246 $1,032,672,246 for educational
purposes by State universities and colleges, the Illinois
Community College Board created by the Public Community
College Act and for grants to public community colleges as
authorized by Sections 5-11 and 5-12 of the Public Community
College Act;
(b) $1,126,370,168 $1,027,213,368 for correctional
purposes at State prison and correctional centers;
(c) $379,711,786 $298,682,486 for open spaces,
recreational and conservation purposes and the protection of
land;
(d) $482,280,486 $451,215,486 for child care facilities,
mental and public health facilities, and facilities for the
care of disabled veterans and their spouses;
(e) 895,189,341 $809,568,641 for use by the State, its
departments, authorities, public corporations, commissions
and agencies;
(f) $818,100 for cargo handling facilities at port
districts and for breakwaters, including harbor entrances, at
port districts in conjunction with facilities for small boats
and pleasure crafts;
(g) $147,267,796 $137,672,796 for water resource
management projects;
(h) $16,940,269 for the provision of facilities for food
production research and related instructional and public
service activities at the State universities and public
community colleges;
(i) $34,000,000 for grants by the Secretary of State, as
State Librarian, for central library facilities authorized by
Section 8 of the Illinois Library System Act and for grants
by the Capital Development Board to units of local government
for public library facilities;
(j) $25,000,000 for the acquisition, development,
construction, reconstruction, improvement, financing,
architectural planning and installation of capital facilities
consisting of buildings, structures, durable equipment and
land for grants to counties, municipalities or public
building commissions with correctional facilities that do not
comply with the minimum standards of the Department of
Corrections under Section 3-15-2 of the Unified Code of
Corrections;
(k) $5,000,000 for grants in fiscal year 1988 by the
Department of Conservation for improvement or expansion of
aquarium facilities located on property owned by a park
district; and
(l) $33,171,200 $7,300,000 to State agencies for grants
to local governments for the acquisition, financing,
architectural planning, development, alteration,
installation, and construction of capital facilities
consisting of buildings, structures, durable equipment, and
land.
The amounts authorized above for capital facilities may
be used for the acquisition, installation, alteration,
construction, or reconstruction of capital facilities and for
the purchase of equipment for the purpose of major capital
improvements which will reduce energy consumption in State
buildings or facilities.
(Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
eff. 12-8-97.)
(30 ILCS 330/4) (from Ch. 127, par. 654)
Sec. 4. Transportation. The amount of $2,484,270,000
$2,436,800,000 is authorized for use by the Department of
Transportation for the specific purpose of promoting and
assuring rapid, efficient, and safe highway, air and mass
transportation for the inhabitants of the State by providing
monies, including the making of grants and loans, for the
acquisition, construction, reconstruction, extension and
improvement of the following transportation facilities and
equipment, and for the acquisition of real property and
interests in real property required or expected to be
required in connection therewith as follows:
(a) $1,411,000,000 for State highways, arterial
highways, freeways, roads, bridges, structures separating
highways and railroads and roads, and bridges on roads
maintained by counties, municipalities, townships or road
districts for the following specific purposes:
(1) $1,310,000,000 for use statewide,
(2) $3,641,000 for use outside the Chicago
urbanized area,
(3) $7,543,000 for use within the Chicago urbanized
area,
(4) $13,060,600 for use within the City of Chicago,
(5) $57,894,500 for use within the counties of
Cook, DuPage, Kane, Lake, McHenry and Will, and
(6) $18,860,900 for use outside the counties of
Cook, DuPage, Kane, Lake, McHenry and Will.
(b) $883,270,000 $835,800,000 for mass transit
facilities, as defined in Section 49.19 of the Civil
Administrative Code of Illinois, including rapid transit,
rail, bus and other equipment used in connection therewith by
the State or any unit of local government, special
transportation district, municipal corporation or other
corporation or public authority authorized to provide and
promote public transportation within the State or two or more
of the foregoing jointly, for the following specific
purposes:
(1) $787,470,000 $740,000,000 statewide,
(2) $83,350,000 for use within the counties of
Cook, DuPage, Kane, Lake, McHenry and Will,
(3) $12,450,000 for use outside the counties of
Cook, DuPage, Kane, Lake, McHenry and Will.
(c) $190,000,000 for airport or aviation facilities and
any equipment used in connection therewith, including
engineering and land acquisition costs, by the State or any
unit of local government, special transportation district,
municipal corporation or other corporation or public
authority authorized to provide public transportation within
the State, or two or more of the foregoing acting jointly.
(Source: P.A. 89-235, eff. 8-4-95; 90-1, eff. 2-20-97; 90-8,
eff. 12-8-97 (changed from 6-1-98 by P.A. 90-549).)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $213,035,000 $189,300,000 is
authorized for allocation by the Environmental Protection
Agency for grants or loans to units of local government in
such amounts, at such times and for such purpose as the
Agency deems necessary or desirable for the planning,
financing, and construction of municipal sewage treatment
works and solid waste disposal facilities and for making of
deposits into the Water Revolving Fund and the U.S.
Environmental Protection Fund to provide assistance in
accordance with the provisions of Title IV-A of the
Environmental Protection Act.
(b) The amount of $160,500,000 is authorized for
allocation by the Environmental Protection Agency for payment
of claims submitted to the State and approved for payment
under the Leaking Underground Storage Tank Program
established in Title XVI of the Environmental Protection Act.
(Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
eff. 12-8-97.)
(30 ILCS 330/12) (from Ch. 127, par. 662)
Sec. 12. Allocation of Proceeds from Sale of Bonds.
(a) Proceeds from the sale of Bonds, authorized by
Section 3 of this Act, shall be deposited in the separate
fund known as the Capital Development Fund.
(b) Proceeds from the sale of Bonds, authorized by
paragraph (a) of Section 4 of this Act, shall be deposited in
the separate fund known as the Transportation Bond, Series A
Fund.
(c) Proceeds from the sale of Bonds, authorized by
paragraphs (b) and (c) of Section 4 of this Act, shall be
deposited in the separate fund known as the Transportation
Bond, Series B Fund.
(d) Proceeds from the sale of Bonds, authorized by
Section 5 of this Act, shall be deposited in the separate
fund known as the School Construction Fund, except that
proceeds from the sale of the additional $1,100,000,000 of
bonds authorized in subsection (e) of Section 5 pursuant to
this amendatory Act of 1997 shall be deposited into the
School Infrastructure Fund.
(e) Proceeds from the sale of Bonds, authorized by
Section 6 of this Act, shall be deposited in the separate
fund known as the Anti-Pollution Fund.
(f) Proceeds from the sale of Bonds, authorized by
Section 7 of this Act, shall be deposited in the separate
fund known as the Coal Development Fund.
(g) Proceeds from the sale of Bonds, authorized by
Section 8 of this Act, shall be deposited in the Capital
Development Fund.
(h) Subsequent to the issuance of any Bonds for the
purposes described in Sections 2 through 8 of this Act, the
Governor and the Director of the Bureau of the Budget may
provide for the reallocation of unspent proceeds of such
Bonds to any other purposes authorized under said Sections of
this Act, subject to the limitations on aggregate principal
amounts contained therein. Upon any such reallocation, such
unspent proceeds shall be transferred to the appropriate
funds as determined by reference to paragraphs (a) through
(g) of this Section.
(Source: P.A. 90-549, eff. 12-8-97.)
Section 99. Effective date. This Act takes effect
immediately upon becoming law.