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Public Act 91-0039
SB1203 Enrolled LRB9106016MWpc
AN ACT in relation to State Bonds, amending named Acts.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Finance Act is amended by adding
Section 8.40 as follows:
(30 ILCS 105/8.40 new)
Sec. 8.40. Infrastructure Task Force fee prohibition. A
person who was a member of the Governor's Infrastructure Task
Force on May 1, 1999, and any entity in which such a person
has an ownership interest or distributive income share
exceeding 5%, or an amount greater than 60% of the annual
salary of the Governor, is prohibited from receiving any
legal, banking, or consulting fee relating to the issuance of
bonds or to other financing arrangements for projects arising
from reports or recommendations made by that Task Force.
Section 10. The General Obligation Bond Act is amended
by changing Sections 2, 3, 4, 5, 6, 9, 11, and 16 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 $16,177,847,592 $10,895,296,392 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; 90-586, eff. 6-4-98.)
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital Facilities. The amount of $5,238,217,592
$4,335,266,392 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) $1,516,755,446 $1,189,517,246 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) $1,312,970,168 $1,126,370,168 for correctional
purposes at State prison and correctional centers;
(c) $433,941,786 $379,711,786 for open spaces,
recreational and conservation purposes and the protection of
land;
(d) $506,780,486 $482,280,486 for child care facilities,
mental and public health facilities, and facilities for the
care of disabled veterans and their spouses;
(e) $1,033,599,341 $895,189,341 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) $173,527,796 $147,267,796 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) $138,484,200 $33,171,200 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; and
(m) $40,400,000 for the Illinois Open Land Trust Program
as defined by the Illinois Open Land Trust Act.
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; 90-586, eff. 6-4-98.)
(30 ILCS 330/4) (from Ch. 127, par. 654)
Sec. 4. Transportation. The amount of $5,312,270,000
$2,484,270,000 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) $3,431,000,000 $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) $3,330,000,000 $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) $1,529,670,000 $883,270,000 for rail facilities and
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) $1,433,870,000 $787,470,000 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) $351,600,000 $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); 90-586,
eff. 6-4-98.)
(30 ILCS 330/5) (from Ch. 127, par. 655)
Sec. 5. School Construction.
(a) The amount of $58,450,000 is authorized to make
grants to local school districts for the acquisition,
development, construction, reconstruction, rehabilitation,
improvement, financing, architectural planning and
installation of capital facilities, including but not limited
to those required for special education building projects
provided for in Article 14 of The School Code, consisting of
buildings, structures, and durable equipment, and for the
acquisition and improvement of real property and interests in
real property required, or expected to be required, in
connection therewith.
(b) $22,550,000, or so much thereof as may be necessary,
for grants to school districts for the making of principal
and interest payments, required to be made, on bonds issued
by such school districts after January 1, 1969, pursuant to
any indenture, ordinance, resolution, agreement or contract
to provide funds for the acquisition, development,
construction, reconstruction, rehabilitation, improvement,
architectural planning and installation of capital facilities
consisting of buildings, structures, durable equipment and
land for educational purposes or for lease payments required
to be made by a school district for principal and interest
payments on bonds issued by a Public Building Commission
after January 1, 1969.
(c) $10,000,000 for grants to school districts for the
acquisition, development, construction, reconstruction,
rehabilitation, improvement, architectural planning and
installation of capital facilities consisting of buildings
structures, durable equipment and land for special education
building projects.
(d) $9,000,000 for grants to school districts for the
reconstruction, rehabilitation, improvement, financing and
architectural planning of capital facilities, including
construction at another location to replace such capital
facilities, consisting of those public school buildings and
temporary school facilities which, prior to January 1, 1984,
were condemned by the regional superintendent under Section
3-14.22 of The School Code or by any State official having
jurisdiction over building safety.
(e) $2,120,000,000 $1,100,000,000 for grants to school
districts for school improvement projects authorized by the
School Construction Law. The bonds shall be sold in amounts
not to exceed the following schedule, except any bonds not
sold during one year shall be added to the bonds to be sold
during the remainder of the schedule:
First year...................................$200,000,000
Second year.....................$450,000,000 $250,000,000
Third year......................$500,000,000 $250,000,000
Fourth year.....................$500,000,000 $200,000,000
Fifth year......................$300,000,000 $200,000,000
Sixth year...................................$170,000,000
(Source: P.A. 90-549, eff. 12-8-97.)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $244,635,000 $213,035,000 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; 90-586, eff. 6-4-98.)
(30 ILCS 330/9) (from Ch. 127, par. 659)
Sec. 9. Conditions for Issuance and Sale of Bonds -
Requirements for Bonds. Bonds shall be issued and sold from
time to time, in one or more series, in such amounts and at
such prices as may be directed by the Governor, upon
recommendation by the Director of the Bureau of the Budget.
Bonds shall be in such form (either coupon, registered or
book entry), in such denominations, in the denomination of
$5,000 or some multiple thereof, payable within 30 years from
their date, subject to such terms of redemption with or
without premium, bear bearing interest payable at such times
and at such fixed rate or rates, and annually or semiannually
from their date at a rate that does not exceed that permitted
in "AN ACT to authorize public corporations to issue Bonds,
other evidences of indebtedness and tax anticipation warrants
subject to interest rate limitations set forth therein",
approved May 26, 1970, as now or hereafter amended, and be
dated as shall be fixed and determined by the Director of the
Bureau of the Budget in the order authorizing the issuance
and sale of any series of Bonds, which order shall be
approved by the Governor and is herein called a "Bond Sale
Order"; provided however, that interest shall not exceed that
permitted in the Bond Authorization Act, as now or hereafter
amended prior to the giving of notice of the sale of any
Bonds. Said Bonds shall be payable at such place or places,
within or without the State of Illinois, and may be made
registrable as to either principal or as to both principal
and interest, as shall be specified in the Bond Sale Order
fixed and determined by the Director of the Bureau of the
Budget in the order authorizing the issuance and sale of such
Bonds. Bonds may be callable or subject to purchase and
retirement as fixed and determined in the Bond Sale Order.
by the Director of the Bureau of the Budget in the order
authorizing the issuance and sale of Bonds; provided;
however, that the State shall not pay a premium of more than
3% of the principal of any Bonds so called.
(Source: P.A. 83-1490; revised 10-31-98.)
(30 ILCS 330/11) (from Ch. 127, par. 661)
Sec. 11. Sale of Bonds. Bonds shall be sold from time to
time pursuant to notice of sale and public bid or by
negotiated sale in such amounts and at such times as is
directed by the Governor, upon recommendation by the Director
of the Bureau of the Budget to the highest and best bidders,
for not less than 97 percent of their par value, upon sealed
bids, at not exceeding the maximum interest rate for any
maturity as fixed in the order authorizing the issuance of
Bonds.
If any Bonds, including refunding Bonds, are to be sold
by negotiated sale, the Director of the Bureau of the Budget
shall comply with the competitive request for proposal
process set forth in the Illinois Procurement Code and all
other applicable requirements of that Code.
If Bonds are to be sold pursuant to notice of sale and
public bid, The right to reject any and all bids may be
reserved. the Director of the Bureau of the Budget shall,
from time to time, as Bonds are to be sold, advertise the
sale of the Bonds in at least two daily newspapers, one of
which is published in the City of Springfield and one in the
City of Chicago, for proposals to purchase Bonds. The sale
of the Bonds shall also be advertised in the volume of the
Illinois Procurement Bulletin that is published by the
Department of Central Management Services. Each of the such
advertisements for proposals shall be published once at least
10 days prior to the date fixed for the opening of the bids.
The Director of the Bureau of the Budget may reschedule the
date of sale upon the giving of such additional notice as the
Director deems deemed to be adequate to inform prospective
bidders of such change; provided, however, that all other
conditions of the sale shall continue as originally
advertised.
Executed Bonds shall, upon payment therefor, be delivered
to the purchaser, and the proceeds of Bonds shall be paid
into the State Treasury as directed by Section 12 of this
Act.
(Source: P.A. 87-836; 88-552.)
(30 ILCS 330/16) (from Ch. 127, par. 666)
Sec. 16. Refunding Bonds. The amount of $2,839,025,000,
at any time and from time to time outstanding, $2,339,025,000
is authorized for the purpose of refunding any State of
Illinois general obligation Bonds then outstanding, including
the payment of any redemption premium thereon, any reasonable
expenses of such refunding, any interest accrued or to accrue
to the earliest or any subsequent date of redemption or
maturity of such outstanding Bonds and any interest to accrue
to the first interest payment on the refunding Bonds;
provided that such refunding Bonds shall mature no later than
the final maturity date of Bonds being refunded.
Refunding Bonds may be sold from time to time pursuant to
notice of sale and public bid or by negotiated sale in such
amounts and at such times, as directed by the Governor, upon
recommendation by the Director of the Bureau of the Budget.
The Governor shall notify the State Treasurer and Comptroller
of such refunding. The proceeds received from the sale of
refunding Bonds shall be used for the retirement at maturity
or redemption of such outstanding Bonds on any maturity or
redemption date and, pending such use, shall be placed in
escrow, subject to such terms and conditions as shall be
provided for in the Bond Sale Order relating to the Refunding
Bonds. Proceeds not needed for deposit in an escrow account
shall be deposited in the General Obligation Bond Retirement
and Interest Fund. This Act shall constitute an irrevocable
and continuing appropriation of all amounts necessary to
establish an escrow account for the purpose of refunding
outstanding general obligation Bonds and to pay the
reasonable expenses of such refunding and of the issuance and
sale of the refunding Bonds. Any such escrowed proceeds may
be invested and reinvested in direct obligations of the
United States of America, maturing at such time or times as
shall be appropriate to assure the prompt payment, when due,
of the principal of and interest and redemption premium, if
any, on the refunded Bonds. After the terms of the escrow
have been fully satisfied, any remaining balance of such
proceeds and interest, income and profits earned or realized
on the investments thereof shall be paid into the General
Revenue Fund. The liability of the State upon the Bonds
shall continue, provided that the holders thereof shall
thereafter be entitled to payment only out of the moneys
deposited in the escrow account.
Except as otherwise herein provided in this Section, such
refunding Bonds shall in all other respects be subject to the
terms and conditions of this Act.
(Source: P.A. 87-836; 87-873; 88-93; 88-552.)
Section 15. The Build Illinois Bond Act is amended by
changing Sections 2 and 4 as follows:
(30 ILCS 425/2) (from Ch. 127, par. 2802)
Sec. 2. Authorization for Bonds. The State of Illinois
is authorized to issue, sell and provide for the retirement
of limited obligation bonds, notes and other evidences of
indebtedness of the State of Illinois in the total principal
amount of $2,790,970,000 $2,036,500,000 herein called
"Bonds". Such authorized amount of Bonds shall be reduced
from time to time by amounts, if any, which are equal to the
moneys received by the Department of Revenue in any fiscal
year pursuant to Section 3-1001 of the "Illinois Vehicle
Code", as amended, in excess of the Annual Specified Amount
(as defined in Section 3 of the "Retailers' Occupation Tax
Act", as amended) and transferred at the end of such fiscal
year from the General Revenue Fund to the Build Illinois
Purposes Fund as provided in Section 3-1001 of said Code;
provided, however, that no such reduction shall affect the
validity or enforceability of any Bonds issued prior to such
reduction. Such amount of authorized Bonds shall be
exclusive of any refunding Bonds issued pursuant to Section
15 of this Act and exclusive of any Bonds issued pursuant to
this Section which are redeemed, purchased, advance refunded,
or defeased in accordance with paragraph (f) of Section 4 of
this Act. Bonds shall be issued for the categories and
specific purposes expressed in Section 4 of this Act.
(Source: P.A. 86-44; 86-78; 86-1473.)
(30 ILCS 425/4) (from Ch. 127, par. 2804)
Sec. 4. Purposes of Bonds. Bonds shall be issued for the
following purposes and in the approximate amounts as set
forth below:
(a) $2,069,889,000 $1,470,419,000 for the expenses of
issuance and sale of Bonds, including bond discounts, and for
planning, engineering, acquisition, construction,
reconstruction, development, improvement and extension of the
public infrastructure in the State of Illinois, including:
the making of loans or grants to local governments for waste
disposal systems, water and sewer line extensions and water
distribution and purification facilities, rail or air or
water port improvements, gas and electric utility extensions,
publicly owned industrial and commercial sites, buildings
used for public administration purposes and other public
infrastructure capital improvements; the making of loans or
grants to units of local government for financing and
construction of wastewater facilities; refinancing or
retiring bonds issued between January 1, 1987 and January 1,
1990 by home rule municipalities, debt service on which is
provided from a tax imposed by home rule municipalities prior
to January 1, 1990 on the sale of food and drugs pursuant to
Section 8-11-1 of the Home Rule Municipal Retailers'
Occupation Tax Act or Section 8-11-5 of the Home Rule
Municipal Service Occupation Tax Act; the making of deposits
not to exceed $70,000,000 in the aggregate into the Water
Pollution Control Revolving Fund to provide assistance in
accordance with the provisions of Title IV-A of the
Environmental Protection Act; the planning, engineering,
acquisition, construction, reconstruction, alteration,
expansion, extension and improvement of highways, bridges,
structures separating highways and railroads, rest areas,
interchanges, access roads to and from any State or local
highway and other transportation improvement projects which
are related to economic development activities; the making of
loans or grants for planning, engineering, rehabilitation,
improvement or construction of rail and transit facilities;
the planning, engineering, acquisition, construction,
reconstruction and improvement of watershed, drainage, flood
control, recreation and related improvements and facilities,
including expenses related to land and easement acquisition,
relocation, control structures, channel work and clearing and
appurtenant work; the making of grants for improvement and
development of zoos and park district field houses and
related structures; and the making of grants for improvement
and development of Navy Pier and related structures.
(b) $71,301,500 $46,301,500 for fostering economic
development and increased employment and the well being of
the citizens of Illinois, including: the making of grants for
improvement and development of McCormick Place and related
structures; the planning and construction of a
microelectronics research center, including the planning,
engineering, construction, improvement, renovation and
acquisition of buildings, equipment and related utility
support systems; the making of loans to businesses and
investments in small businesses; acquiring real properties
for industrial or commercial site development; acquiring,
rehabilitating and reconveying industrial and commercial
properties for the purpose of expanding employment and
encouraging private and other public sector investment in the
economy of Illinois; the payment of expenses associated with
siting the Superconducting Super Collider Particle
Accelerator in Illinois and with its acquisition,
construction, maintenance, operation, promotion and support;
the making of loans for the planning, engineering,
acquisition, construction, improvement and conversion of
facilities and equipment which will foster the use of
Illinois coal; the payment of expenses associated with the
promotion, establishment, acquisition and operation of small
business incubator facilities and agribusiness research
facilities, including the lease, purchase, renovation,
planning, engineering, construction and maintenance of
buildings, utility support systems and equipment designated
for such purposes and the establishment and maintenance of
centralized support services within such facilities; and the
making of grants or loans to units of local government for
Urban Development Action Grant and Housing Partnership
programs.
(c) $521,128,600 $461,128,600 for the development and
improvement of educational, scientific, technical and
vocational programs and facilities and the expansion of
health and human services for all citizens of Illinois,
including: the making of construction and improvement grants
and loans to public libraries and library systems; the making
of grants and loans for planning, engineering, acquisition
and construction of a new State central library in
Springfield; the planning, engineering, acquisition and
construction of an animal and dairy sciences facility; the
planning, engineering, acquisition and construction of a
campus and all related buildings, facilities, equipment and
materials for Richland Community College; the acquisition,
rehabilitation and installation of equipment and materials
for scientific and historical surveys; the making of grants
or loans for distribution to eligible vocational education
instructional programs for the upgrading of vocational
education programs, school shops and laboratories, including
the acquisition, rehabilitation and installation of technical
equipment and materials; the making of grants or loans for
distribution to eligible local educational agencies for the
upgrading of math and science instructional programs,
including the acquisition of instructional equipment and
materials; miscellaneous capital improvements for
universities and community colleges including the planning,
engineering, construction, reconstruction, remodeling,
improvement, repair and installation of capital facilities
and costs of planning, supplies, equipment, materials,
services, and all other required expenses; the making of
grants or loans for repair, renovation and miscellaneous
capital improvements for privately operated colleges and
universities and community colleges, including the planning,
engineering, acquisition, construction, reconstruction,
remodeling, improvement, repair and installation of capital
facilities and costs of planning, supplies, equipment,
materials, services, and all other required expenses; and the
making of grants or loans for distribution to local
governments for hospital and other health care facilities
including the planning, engineering, acquisition,
construction, reconstruction, remodeling, improvement, repair
and installation of capital facilities and costs of planning,
supplies, equipment, materials, services and all other
required expenses.
(d) $128,650,900 $58,650,900 for protection,
preservation, restoration and conservation of environmental
and natural resources, including: the making of grants to
soil and water conservation districts for the planning and
implementation of conservation practices and for funding
contracts with the Soil Conservation Service for watershed
planning; the making of grants to units of local government
for the capital development and improvement of recreation
areas, including planning and engineering costs, sewer
projects, including planning and engineering costs and water
projects, including planning and engineering costs, and for
the acquisition of open space lands, including the
acquisition of easements and other property interests of less
than fee simple ownership; the acquisition and related costs
and development and management of natural heritage lands,
including natural areas and areas providing habitat for
endangered species and nongame wildlife, and buffer area
lands; the acquisition and related costs and development and
management of habitat lands, including forest, wildlife
habitat and wetlands; and the removal and disposition of
hazardous substances, including the cost of project
management, equipment, laboratory analysis, and contractual
services necessary for preventative and corrective actions
related to the preservation, restoration and conservation of
the environment, including deposits not to exceed $60,000,000
in the aggregate into the Hazardous Waste Fund and the
Brownfields Redevelopment Fund for improvements in accordance
with the provisions of Titles V and XVII of the Environmental
Protection Act.
(e) The amount specified in paragraph (a) above shall
include an amount necessary to pay reasonable expenses of
each issuance and sale of the Bonds, as specified in the
related Bond Sale Order (hereinafter defined).
(f) Any unexpended proceeds from any sale of Bonds which
are held in the Build Illinois Bond Fund may be used to
redeem, purchase, advance refund, or defease any Bonds
outstanding.
(Source: P.A. 86-44; 86-78; 86-1028; 86-1473; 87-873.)
Section 99. Effective date. This Act takes effect upon
becoming law.
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