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Sen. Kyle McCarter
Filed: 3/22/2012
| | 09700SB2978sam001 | | LRB097 16684 PJG 67795 a |
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| 1 | | AMENDMENT TO SENATE BILL 2978
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2978 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Local Government Debt Reform Act is amended |
| 5 | | by adding Section 10.5 as follows:
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| 6 | | (30 ILCS 350/10.5 new) |
| 7 | | Sec. 10.5. Sale of bonds. Notwithstanding the provisions of |
| 8 | | Section 4 of this Act or any other law to the contrary, bonds |
| 9 | | sold by a governmental unit shall be sold pursuant to notice of |
| 10 | | sale and public bid. This Section is a limitation on the |
| 11 | | concurrent exercise of home rule powers, pursuant to subsection |
| 12 | | (i) of Section 6 of Article VII of the Illinois Constitution.
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| 13 | | Section 99. Effective date. This Act takes effect upon |
| 14 | | becoming law.".
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