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91_SB1203enr
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1 AN ACT in relation to State Bonds, amending named Acts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The State Finance Act is amended by adding
5 Section 8.40 as follows:
6 (30 ILCS 105/8.40 new)
7 Sec. 8.40. Infrastructure Task Force fee prohibition. A
8 person who was a member of the Governor's Infrastructure Task
9 Force on May 1, 1999, and any entity in which such a person
10 has an ownership interest or distributive income share
11 exceeding 5%, or an amount greater than 60% of the annual
12 salary of the Governor, is prohibited from receiving any
13 legal, banking, or consulting fee relating to the issuance of
14 bonds or to other financing arrangements for projects arising
15 from reports or recommendations made by that Task Force.
16 Section 10. The General Obligation Bond Act is amended
17 by changing Sections 2, 3, 4, 5, 6, 9, 11, and 16 as follows:
18 (30 ILCS 330/2) (from Ch. 127, par. 652)
19 Sec. 2. Authorization for Bonds. The State of Illinois
20 is authorized to issue, sell and provide for the retirement
21 of General Obligation Bonds of the State of Illinois in the
22 total amount of $16,177,847,592 $10,895,296,392 herein called
23 "Bonds".
24 Of the total amount of bonds authorized above, up to
25 $2,200,000,000 in aggregate original principal amount may be
26 issued and sold in accordance with the Baccalaureate Savings
27 Act in the form of General Obligation College Savings Bonds.
28 Of the total amount of bonds authorized above, up to
29 $300,000,000 in aggregate original principal amount may be
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1 issued and sold in accordance with the Retirement Savings Act
2 in the form of General Obligation Retirement Savings Bonds.
3 The issuance and sale of Bonds pursuant to the General
4 Obligation Bond Act is an economical and efficient method of
5 financing the capital needs of the State. This Act will
6 permit the issuance of a multi-purpose General Obligation
7 Bond with uniform terms and features. This will not only
8 lower the cost of registration but also reduce the overall
9 cost of issuing debt by improving the marketability of
10 Illinois General Obligation Bonds.
11 Bonds shall be issued for the categories and specific
12 purposes expressed in Sections 2 through 8 and Section 16 of
13 this Act.
14 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
15 eff. 12-8-97; 90-586, eff. 6-4-98.)
16 (30 ILCS 330/3) (from Ch. 127, par. 653)
17 Sec. 3. Capital Facilities. The amount of $5,238,217,592
18 $4,335,266,392 is authorized to be used for the acquisition,
19 development, construction, reconstruction, improvement,
20 financing, architectural planning and installation of capital
21 facilities within the State, consisting of buildings,
22 structures, durable equipment, land, and interests in land
23 for the following specific purposes:
24 (a) $1,516,755,446 $1,189,517,246 for educational
25 purposes by State universities and colleges, the Illinois
26 Community College Board created by the Public Community
27 College Act and for grants to public community colleges as
28 authorized by Sections 5-11 and 5-12 of the Public Community
29 College Act;
30 (b) $1,312,970,168 $1,126,370,168 for correctional
31 purposes at State prison and correctional centers;
32 (c) $433,941,786 $379,711,786 for open spaces,
33 recreational and conservation purposes and the protection of
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1 land;
2 (d) $506,780,486 $482,280,486 for child care facilities,
3 mental and public health facilities, and facilities for the
4 care of disabled veterans and their spouses;
5 (e) $1,033,599,341 $895,189,341 for use by the State,
6 its departments, authorities, public corporations,
7 commissions and agencies;
8 (f) $818,100 for cargo handling facilities at port
9 districts and for breakwaters, including harbor entrances, at
10 port districts in conjunction with facilities for small boats
11 and pleasure crafts;
12 (g) $173,527,796 $147,267,796 for water resource
13 management projects;
14 (h) $16,940,269 for the provision of facilities for food
15 production research and related instructional and public
16 service activities at the State universities and public
17 community colleges;
18 (i) $34,000,000 for grants by the Secretary of State, as
19 State Librarian, for central library facilities authorized by
20 Section 8 of the Illinois Library System Act and for grants
21 by the Capital Development Board to units of local government
22 for public library facilities;
23 (j) $25,000,000 for the acquisition, development,
24 construction, reconstruction, improvement, financing,
25 architectural planning and installation of capital facilities
26 consisting of buildings, structures, durable equipment and
27 land for grants to counties, municipalities or public
28 building commissions with correctional facilities that do not
29 comply with the minimum standards of the Department of
30 Corrections under Section 3-15-2 of the Unified Code of
31 Corrections;
32 (k) $5,000,000 for grants in fiscal year 1988 by the
33 Department of Conservation for improvement or expansion of
34 aquarium facilities located on property owned by a park
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1 district; and
2 (l) $138,484,200 $33,171,200 to State agencies for
3 grants to local governments for the acquisition, financing,
4 architectural planning, development, alteration,
5 installation, and construction of capital facilities
6 consisting of buildings, structures, durable equipment, and
7 land; and
8 (m) $40,400,000 for the Illinois Open Land Trust Program
9 as defined by the Illinois Open Land Trust Act.
10 The amounts authorized above for capital facilities may
11 be used for the acquisition, installation, alteration,
12 construction, or reconstruction of capital facilities and for
13 the purchase of equipment for the purpose of major capital
14 improvements which will reduce energy consumption in State
15 buildings or facilities.
16 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
17 eff. 12-8-97; 90-586, eff. 6-4-98.)
18 (30 ILCS 330/4) (from Ch. 127, par. 654)
19 Sec. 4. Transportation. The amount of $5,312,270,000
20 $2,484,270,000 is authorized for use by the Department of
21 Transportation for the specific purpose of promoting and
22 assuring rapid, efficient, and safe highway, air and mass
23 transportation for the inhabitants of the State by providing
24 monies, including the making of grants and loans, for the
25 acquisition, construction, reconstruction, extension and
26 improvement of the following transportation facilities and
27 equipment, and for the acquisition of real property and
28 interests in real property required or expected to be
29 required in connection therewith as follows:
30 (a) $3,431,000,000 $1,411,000,000 for State highways,
31 arterial highways, freeways, roads, bridges, structures
32 separating highways and railroads and roads, and bridges on
33 roads maintained by counties, municipalities, townships or
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1 road districts for the following specific purposes:
2 (1) $3,330,000,000 $1,310,000,000 for use
3 statewide,
4 (2) $3,641,000 for use outside the Chicago
5 urbanized area,
6 (3) $7,543,000 for use within the Chicago urbanized
7 area,
8 (4) $13,060,600 for use within the City of Chicago,
9 (5) $57,894,500 for use within the counties of
10 Cook, DuPage, Kane, Lake, McHenry and Will, and
11 (6) $18,860,900 for use outside the counties of
12 Cook, DuPage, Kane, Lake, McHenry and Will.
13 (b) $1,529,670,000 $883,270,000 for rail facilities and
14 for mass transit facilities, as defined in Section 49.19 of
15 the Civil Administrative Code of Illinois, including rapid
16 transit, rail, bus and other equipment used in connection
17 therewith by the State or any unit of local government,
18 special transportation district, municipal corporation or
19 other corporation or public authority authorized to provide
20 and promote public transportation within the State or two or
21 more of the foregoing jointly, for the following specific
22 purposes:
23 (1) $1,433,870,000 $787,470,000 statewide,
24 (2) $83,350,000 for use within the counties of
25 Cook, DuPage, Kane, Lake, McHenry and Will,
26 (3) $12,450,000 for use outside the counties of
27 Cook, DuPage, Kane, Lake, McHenry and Will.
28 (c) $351,600,000 $190,000,000 for airport or aviation
29 facilities and any equipment used in connection therewith,
30 including engineering and land acquisition costs, by the
31 State or any unit of local government, special transportation
32 district, municipal corporation or other corporation or
33 public authority authorized to provide public transportation
34 within the State, or two or more of the foregoing acting
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1 jointly.
2 (Source: P.A. 89-235, eff. 8-4-95; 90-1, eff. 2-20-97; 90-8,
3 eff. 12-8-97 (changed from 6-1-98 by P.A. 90-549); 90-586,
4 eff. 6-4-98.)
5 (30 ILCS 330/5) (from Ch. 127, par. 655)
6 Sec. 5. School Construction.
7 (a) The amount of $58,450,000 is authorized to make
8 grants to local school districts for the acquisition,
9 development, construction, reconstruction, rehabilitation,
10 improvement, financing, architectural planning and
11 installation of capital facilities, including but not limited
12 to those required for special education building projects
13 provided for in Article 14 of The School Code, consisting of
14 buildings, structures, and durable equipment, and for the
15 acquisition and improvement of real property and interests in
16 real property required, or expected to be required, in
17 connection therewith.
18 (b) $22,550,000, or so much thereof as may be necessary,
19 for grants to school districts for the making of principal
20 and interest payments, required to be made, on bonds issued
21 by such school districts after January 1, 1969, pursuant to
22 any indenture, ordinance, resolution, agreement or contract
23 to provide funds for the acquisition, development,
24 construction, reconstruction, rehabilitation, improvement,
25 architectural planning and installation of capital facilities
26 consisting of buildings, structures, durable equipment and
27 land for educational purposes or for lease payments required
28 to be made by a school district for principal and interest
29 payments on bonds issued by a Public Building Commission
30 after January 1, 1969.
31 (c) $10,000,000 for grants to school districts for the
32 acquisition, development, construction, reconstruction,
33 rehabilitation, improvement, architectural planning and
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1 installation of capital facilities consisting of buildings
2 structures, durable equipment and land for special education
3 building projects.
4 (d) $9,000,000 for grants to school districts for the
5 reconstruction, rehabilitation, improvement, financing and
6 architectural planning of capital facilities, including
7 construction at another location to replace such capital
8 facilities, consisting of those public school buildings and
9 temporary school facilities which, prior to January 1, 1984,
10 were condemned by the regional superintendent under Section
11 3-14.22 of The School Code or by any State official having
12 jurisdiction over building safety.
13 (e) $2,120,000,000 $1,100,000,000 for grants to school
14 districts for school improvement projects authorized by the
15 School Construction Law. The bonds shall be sold in amounts
16 not to exceed the following schedule, except any bonds not
17 sold during one year shall be added to the bonds to be sold
18 during the remainder of the schedule:
19 First year...................................$200,000,000
20 Second year.....................$450,000,000 $250,000,000
21 Third year......................$500,000,000 $250,000,000
22 Fourth year.....................$500,000,000 $200,000,000
23 Fifth year......................$300,000,000 $200,000,000
24 Sixth year...................................$170,000,000
25 (Source: P.A. 90-549, eff. 12-8-97.)
26 (30 ILCS 330/6) (from Ch. 127, par. 656)
27 Sec. 6. Anti-Pollution.
28 (a) The amount of $244,635,000 $213,035,000 is
29 authorized for allocation by the Environmental Protection
30 Agency for grants or loans to units of local government in
31 such amounts, at such times and for such purpose as the
32 Agency deems necessary or desirable for the planning,
33 financing, and construction of municipal sewage treatment
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1 works and solid waste disposal facilities and for making of
2 deposits into the Water Revolving Fund and the U.S.
3 Environmental Protection Fund to provide assistance in
4 accordance with the provisions of Title IV-A of the
5 Environmental Protection Act.
6 (b) The amount of $160,500,000 is authorized for
7 allocation by the Environmental Protection Agency for payment
8 of claims submitted to the State and approved for payment
9 under the Leaking Underground Storage Tank Program
10 established in Title XVI of the Environmental Protection Act.
11 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
12 eff. 12-8-97; 90-586, eff. 6-4-98.)
13 (30 ILCS 330/9) (from Ch. 127, par. 659)
14 Sec. 9. Conditions for Issuance and Sale of Bonds -
15 Requirements for Bonds. Bonds shall be issued and sold from
16 time to time, in one or more series, in such amounts and at
17 such prices as may be directed by the Governor, upon
18 recommendation by the Director of the Bureau of the Budget.
19 Bonds shall be in such form (either coupon, registered or
20 book entry), in such denominations, in the denomination of
21 $5,000 or some multiple thereof, payable within 30 years from
22 their date, subject to such terms of redemption with or
23 without premium, bear bearing interest payable at such times
24 and at such fixed rate or rates, and annually or semiannually
25 from their date at a rate that does not exceed that permitted
26 in "AN ACT to authorize public corporations to issue Bonds,
27 other evidences of indebtedness and tax anticipation warrants
28 subject to interest rate limitations set forth therein",
29 approved May 26, 1970, as now or hereafter amended, and be
30 dated as shall be fixed and determined by the Director of the
31 Bureau of the Budget in the order authorizing the issuance
32 and sale of any series of Bonds, which order shall be
33 approved by the Governor and is herein called a "Bond Sale
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1 Order"; provided however, that interest shall not exceed that
2 permitted in the Bond Authorization Act, as now or hereafter
3 amended prior to the giving of notice of the sale of any
4 Bonds. Said Bonds shall be payable at such place or places,
5 within or without the State of Illinois, and may be made
6 registrable as to either principal or as to both principal
7 and interest, as shall be specified in the Bond Sale Order
8 fixed and determined by the Director of the Bureau of the
9 Budget in the order authorizing the issuance and sale of such
10 Bonds. Bonds may be callable or subject to purchase and
11 retirement as fixed and determined in the Bond Sale Order.
12 by the Director of the Bureau of the Budget in the order
13 authorizing the issuance and sale of Bonds; provided;
14 however, that the State shall not pay a premium of more than
15 3% of the principal of any Bonds so called.
16 (Source: P.A. 83-1490; revised 10-31-98.)
17 (30 ILCS 330/11) (from Ch. 127, par. 661)
18 Sec. 11. Sale of Bonds. Bonds shall be sold from time to
19 time pursuant to notice of sale and public bid or by
20 negotiated sale in such amounts and at such times as is
21 directed by the Governor, upon recommendation by the Director
22 of the Bureau of the Budget to the highest and best bidders,
23 for not less than 97 percent of their par value, upon sealed
24 bids, at not exceeding the maximum interest rate for any
25 maturity as fixed in the order authorizing the issuance of
26 Bonds.
27 If any Bonds, including refunding Bonds, are to be sold
28 by negotiated sale, the Director of the Bureau of the Budget
29 shall comply with the competitive request for proposal
30 process set forth in the Illinois Procurement Code and all
31 other applicable requirements of that Code.
32 If Bonds are to be sold pursuant to notice of sale and
33 public bid, The right to reject any and all bids may be
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1 reserved. the Director of the Bureau of the Budget shall,
2 from time to time, as Bonds are to be sold, advertise the
3 sale of the Bonds in at least two daily newspapers, one of
4 which is published in the City of Springfield and one in the
5 City of Chicago, for proposals to purchase Bonds. The sale
6 of the Bonds shall also be advertised in the volume of the
7 Illinois Procurement Bulletin that is published by the
8 Department of Central Management Services. Each of the such
9 advertisements for proposals shall be published once at least
10 10 days prior to the date fixed for the opening of the bids.
11 The Director of the Bureau of the Budget may reschedule the
12 date of sale upon the giving of such additional notice as the
13 Director deems deemed to be adequate to inform prospective
14 bidders of such change; provided, however, that all other
15 conditions of the sale shall continue as originally
16 advertised.
17 Executed Bonds shall, upon payment therefor, be delivered
18 to the purchaser, and the proceeds of Bonds shall be paid
19 into the State Treasury as directed by Section 12 of this
20 Act.
21 (Source: P.A. 87-836; 88-552.)
22 (30 ILCS 330/16) (from Ch. 127, par. 666)
23 Sec. 16. Refunding Bonds. The amount of $2,839,025,000,
24 at any time and from time to time outstanding, $2,339,025,000
25 $2,036,500,000 herein called
10 "Bonds". Such authorized amount of Bonds shall be reduced
11 from time to time by amounts, if any, which are equal to the
12 moneys received by the Department of Revenue in any fiscal
13 year pursuant to Section 3-1001 of the "Illinois Vehicle
14 Code", as amended, in excess of the Annual Specified Amount
15 (as defined in Section 3 of the "Retailers' Occupation Tax
16 Act", as amended) and transferred at the end of such fiscal
17 year from the General Revenue Fund to the Build Illinois
18 Purposes Fund as provided in Section 3-1001 of said Code;
19 provided, however, that no such reduction shall affect the
20 validity or enforceability of any Bonds issued prior to such
21 reduction. Such amount of authorized Bonds shall be
22 exclusive of any refunding Bonds issued pursuant to Section
23 15 of this Act and exclusive of any Bonds issued pursuant to
24 this Section which are redeemed, purchased, advance refunded,
25 or defeased in accordance with paragraph (f) of Section 4 of
26 this Act. Bonds shall be issued for the categories and
27 specific purposes expressed in Section 4 of this Act.
28 (Source: P.A. 86-44; 86-78; 86-1473.)
29 (30 ILCS 425/4) (from Ch. 127, par. 2804)
30 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
31 following purposes and in the approximate amounts as set
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1 forth below:
2 (a) $2,069,889,000 $1,470,419,000 for the expenses of
3 issuance and sale of Bonds, including bond discounts, and for
4 planning, engineering, acquisition, construction,
5 reconstruction, development, improvement and extension of the
6 public infrastructure in the State of Illinois, including:
7 the making of loans or grants to local governments for waste
8 disposal systems, water and sewer line extensions and water
9 distribution and purification facilities, rail or air or
10 water port improvements, gas and electric utility extensions,
11 publicly owned industrial and commercial sites, buildings
12 used for public administration purposes and other public
13 infrastructure capital improvements; the making of loans or
14 grants to units of local government for financing and
15 construction of wastewater facilities; refinancing or
16 retiring bonds issued between January 1, 1987 and January 1,
17 1990 by home rule municipalities, debt service on which is
18 provided from a tax imposed by home rule municipalities prior
19 to January 1, 1990 on the sale of food and drugs pursuant to
20 Section 8-11-1 of the Home Rule Municipal Retailers'
21 Occupation Tax Act or Section 8-11-5 of the Home Rule
22 Municipal Service Occupation Tax Act; the making of deposits
23 not to exceed $70,000,000 in the aggregate into the Water
24 Pollution Control Revolving Fund to provide assistance in
25 accordance with the provisions of Title IV-A of the
26 Environmental Protection Act; the planning, engineering,
27 acquisition, construction, reconstruction, alteration,
28 expansion, extension and improvement of highways, bridges,
29 structures separating highways and railroads, rest areas,
30 interchanges, access roads to and from any State or local
31 highway and other transportation improvement projects which
32 are related to economic development activities; the making of
33 loans or grants for planning, engineering, rehabilitation,
34 improvement or construction of rail and transit facilities;
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1 the planning, engineering, acquisition, construction,
2 reconstruction and improvement of watershed, drainage, flood
3 control, recreation and related improvements and facilities,
4 including expenses related to land and easement acquisition,
5 relocation, control structures, channel work and clearing and
6 appurtenant work; the making of grants for improvement and
7 development of zoos and park district field houses and
8 related structures; and the making of grants for improvement
9 and development of Navy Pier and related structures.
10 (b) $71,301,500 $46,301,500 for fostering economic
11 development and increased employment and the well being of
12 the citizens of Illinois, including: the making of grants for
13 improvement and development of McCormick Place and related
14 structures; the planning and construction of a
15 microelectronics research center, including the planning,
16 engineering, construction, improvement, renovation and
17 acquisition of buildings, equipment and related utility
18 support systems; the making of loans to businesses and
19 investments in small businesses; acquiring real properties
20 for industrial or commercial site development; acquiring,
21 rehabilitating and reconveying industrial and commercial
22 properties for the purpose of expanding employment and
23 encouraging private and other public sector investment in the
24 economy of Illinois; the payment of expenses associated with
25 siting the Superconducting Super Collider Particle
26 Accelerator in Illinois and with its acquisition,
27 construction, maintenance, operation, promotion and support;
28 the making of loans for the planning, engineering,
29 acquisition, construction, improvement and conversion of
30 facilities and equipment which will foster the use of
31 Illinois coal; the payment of expenses associated with the
32 promotion, establishment, acquisition and operation of small
33 business incubator facilities and agribusiness research
34 facilities, including the lease, purchase, renovation,
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1 planning, engineering, construction and maintenance of
2 buildings, utility support systems and equipment designated
3 for such purposes and the establishment and maintenance of
4 centralized support services within such facilities; and the
5 making of grants or loans to units of local government for
6 Urban Development Action Grant and Housing Partnership
7 programs.
8 (c) $521,128,600 $461,128,600 for the development and
9 improvement of educational, scientific, technical and
10 vocational programs and facilities and the expansion of
11 health and human services for all citizens of Illinois,
12 including: the making of construction and improvement grants
13 and loans to public libraries and library systems; the making
14 of grants and loans for planning, engineering, acquisition
15 and construction of a new State central library in
16 Springfield; the planning, engineering, acquisition and
17 construction of an animal and dairy sciences facility; the
18 planning, engineering, acquisition and construction of a
19 campus and all related buildings, facilities, equipment and
20 materials for Richland Community College; the acquisition,
21 rehabilitation and installation of equipment and materials
22 for scientific and historical surveys; the making of grants
23 or loans for distribution to eligible vocational education
24 instructional programs for the upgrading of vocational
25 education programs, school shops and laboratories, including
26 the acquisition, rehabilitation and installation of technical
27 equipment and materials; the making of grants or loans for
28 distribution to eligible local educational agencies for the
29 upgrading of math and science instructional programs,
30 including the acquisition of instructional equipment and
31 materials; miscellaneous capital improvements for
32 universities and community colleges including the planning,
33 engineering, construction, reconstruction, remodeling,
34 improvement, repair and installation of capital facilities
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1 and costs of planning, supplies, equipment, materials,
2 services, and all other required expenses; the making of
3 grants or loans for repair, renovation and miscellaneous
4 capital improvements for privately operated colleges and
5 universities and community colleges, including the planning,
6 engineering, acquisition, construction, reconstruction,
7 remodeling, improvement, repair and installation of capital
8 facilities and costs of planning, supplies, equipment,
9 materials, services, and all other required expenses; and the
10 making of grants or loans for distribution to local
11 governments for hospital and other health care facilities
12 including the planning, engineering, acquisition,
13 construction, reconstruction, remodeling, improvement, repair
14 and installation of capital facilities and costs of planning,
15 supplies, equipment, materials, services and all other
16 required expenses.
17 (d) $128,650,900 $58,650,900 for protection,
18 preservation, restoration and conservation of environmental
19 and natural resources, including: the making of grants to
20 soil and water conservation districts for the planning and
21 implementation of conservation practices and for funding
22 contracts with the Soil Conservation Service for watershed
23 planning; the making of grants to units of local government
24 for the capital development and improvement of recreation
25 areas, including planning and engineering costs, sewer
26 projects, including planning and engineering costs and water
27 projects, including planning and engineering costs, and for
28 the acquisition of open space lands, including the
29 acquisition of easements and other property interests of less
30 than fee simple ownership; the acquisition and related costs
31 and development and management of natural heritage lands,
32 including natural areas and areas providing habitat for
33 endangered species and nongame wildlife, and buffer area
34 lands; the acquisition and related costs and development and
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1 management of habitat lands, including forest, wildlife
2 habitat and wetlands; and the removal and disposition of
3 hazardous substances, including the cost of project
4 management, equipment, laboratory analysis, and contractual
5 services necessary for preventative and corrective actions
6 related to the preservation, restoration and conservation of
7 the environment, including deposits not to exceed $60,000,000
8 in the aggregate into the Hazardous Waste Fund and the
9 Brownfields Redevelopment Fund for improvements in accordance
10 with the provisions of Titles V and XVII of the Environmental
11 Protection Act.
12 (e) The amount specified in paragraph (a) above shall
13 include an amount necessary to pay reasonable expenses of
14 each issuance and sale of the Bonds, as specified in the
15 related Bond Sale Order (hereinafter defined).
16 (f) Any unexpended proceeds from any sale of Bonds which
17 are held in the Build Illinois Bond Fund may be used to
18 redeem, purchase, advance refund, or defease any Bonds
19 outstanding.
20 (Source: P.A. 86-44; 86-78; 86-1028; 86-1473; 87-873.)
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.
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