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Public Act 92-0598
HB4581 Enrolled LRB9214005REmb
AN ACT concerning bonds.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
ARTICLE 1
Section 5. The General Obligation Bond Act is amended by
changing Sections 2, 3, 5 and 6 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 for the
categories and specific purposes expressed in Sections 2
through 8 of this Act, in the total amount of $16,908,149,369
$15,265,007,500.
The bonds authorized in this Section 2 and in Section 16
of this Act are herein called "Bonds".
Of the total amount of Bonds authorized in this Act, 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 in this Act, 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.
(Source: P.A. 91-39, eff. 6-15-99; 91-53, eff 6-30-99;
91-710, eff. 5-17-00; 92-13, eff. 6-22-01.)
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital Facilities. The amount of $7,320,235,369
$6,626,093,492 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) $2,211,228,000 $1,880,077,346 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) $1,607,420,000 $1,584,450,168 for correctional
purposes at State prison and correctional centers;
(c) $531,175,000 $496,685,786 for open spaces,
recreational and conservation purposes and the protection
of land;
(d) $589,917,000 $556,926,486 for child care
facilities, mental and public health facilities, and
facilities for the care of disabled veterans and their
spouses;
(e) $1,455,990,000 $1,290,153,341 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) $204,657,000 $198,657,796 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) $36,000,000 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;
(l) $432,590,000 $367,584,200 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) $203,500,000 $167,800,000 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. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710,
eff. 5-17-00; 92-13, eff. 6-22-01.)
(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) $3,050,000,000 $2,120,000,000 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
Third year...................................$500,000,000
Fourth year..................................$500,000,000
Fifth year.......................$800,000,000 300,000,000
Sixth year and thereafter........$600,000,000 170,000,000
(Source: P.A. 90-549, eff. 12-8-97; 91-39, eff. 6-15-99.)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $300,815,000 $281,815,000 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. 91-39, eff. 6-15-99; 91-710, eff. 5-17-00;
92-13, eff. 6-22-01.)
ARTICLE 2
Section 5. 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 $3,805,509,000 $3,540,715,000 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. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)
(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) $2,417,000,000 $2,399,954,000 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) $186,000,000 $139,301,500 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) $1,052,358,100 $851,308,600 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) $150,150,900 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. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly June 02, 2002.
Approved June 28, 2002.
Effective June 28, 2002.
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