[ Back ] [ Bottom ]
92_HB0472
LRB9203825MWpk
1 AN ACT in relation to local government.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Property Tax Code is amended by changing
5 Section 18-185 as follows:
6 (35 ILCS 200/18-185)
7 Sec. 18-185. Short title; definitions. This Division 5
8 may be cited as the Property Tax Extension Limitation Law.
9 As used in this Division 5:
10 "Consumer Price Index" means the Consumer Price Index for
11 All Urban Consumers for all items published by the United
12 States Department of Labor.
13 "Extension limitation" means (a) the lesser of 5% or the
14 percentage increase in the Consumer Price Index during the
15 12-month calendar year preceding the levy year or (b) the
16 rate of increase approved by voters under Section 18-205.
17 "Affected county" means a county of 3,000,000 or more
18 inhabitants or a county contiguous to a county of 3,000,000
19 or more inhabitants.
20 "Taxing district" has the same meaning provided in
21 Section 1-150, except as otherwise provided in this Section.
22 For the 1991 through 1994 levy years only, "taxing district"
23 includes only each non-home rule taxing district having the
24 majority of its 1990 equalized assessed value within any
25 county or counties contiguous to a county with 3,000,000 or
26 more inhabitants. Beginning with the 1995 levy year, "taxing
27 district" includes only each non-home rule taxing district
28 subject to this Law before the 1995 levy year and each
29 non-home rule taxing district not subject to this Law before
30 the 1995 levy year having the majority of its 1994 equalized
31 assessed value in an affected county or counties. Beginning
-2- LRB9203825MWpk
1 with the levy year in which this Law becomes applicable to a
2 taxing district as provided in Section 18-213, "taxing
3 district" also includes those taxing districts made subject
4 to this Law as provided in Section 18-213.
5 "Aggregate extension" for taxing districts to which this
6 Law applied before the 1995 levy year means the annual
7 corporate extension for the taxing district and those special
8 purpose extensions that are made annually for the taxing
9 district, excluding special purpose extensions: (a) made for
10 the taxing district to pay interest or principal on general
11 obligation bonds that were approved by referendum; (b) made
12 for any taxing district to pay interest or principal on
13 general obligation bonds issued before October 1, 1991; (c)
14 made for any taxing district to pay interest or principal on
15 bonds issued to refund or continue to refund those bonds
16 issued before October 1, 1991; (d) made for any taxing
17 district to pay interest or principal on bonds issued to
18 refund or continue to refund bonds issued after October 1,
19 1991 that were approved by referendum; (e) made for any
20 taxing district to pay interest or principal on revenue bonds
21 issued before October 1, 1991 for payment of which a property
22 tax levy or the full faith and credit of the unit of local
23 government is pledged; however, a tax for the payment of
24 interest or principal on those bonds shall be made only after
25 the governing body of the unit of local government finds that
26 all other sources for payment are insufficient to make those
27 payments; (f) made for payments under a building commission
28 lease when the lease payments are for the retirement of bonds
29 issued by the commission before October 1, 1991, to pay for
30 the building project, including leases between a public
31 building commission and a community college district in a
32 county with a population not less than 300,000 and not more
33 than 400,000 that are amended under subsection (n) of Section
34 14 of the Public Building Commission Act; (g) made for
-3- LRB9203825MWpk
1 payments due under installment contracts entered into before
2 October 1, 1991; (h) made for payments of principal and
3 interest on bonds issued under the Metropolitan Water
4 Reclamation District Act to finance construction projects
5 initiated before October 1, 1991; (i) made for payments of
6 principal and interest on limited bonds, as defined in
7 Section 3 of the Local Government Debt Reform Act, in an
8 amount not to exceed the debt service extension base less the
9 amount in items (b), (c), (e), and (h) of this definition for
10 non-referendum obligations, except obligations initially
11 issued pursuant to referendum; (j) made for payments of
12 principal and interest on bonds issued under Section 15 of
13 the Local Government Debt Reform Act; and (k) made by a
14 school district that participates in the Special Education
15 District of Lake County, created by special education joint
16 agreement under Section 10-22.31 of the School Code, for
17 payment of the school district's share of the amounts
18 required to be contributed by the Special Education District
19 of Lake County to the Illinois Municipal Retirement Fund
20 under Article 7 of the Illinois Pension Code; the amount of
21 any extension under this item (k) shall be certified by the
22 school district to the county clerk.
23 "Aggregate extension" for the taxing districts to which
24 this Law did not apply before the 1995 levy year (except
25 taxing districts subject to this Law in accordance with
26 Section 18-213) means the annual corporate extension for the
27 taxing district and those special purpose extensions that are
28 made annually for the taxing district, excluding special
29 purpose extensions: (a) made for the taxing district to pay
30 interest or principal on general obligation bonds that were
31 approved by referendum; (b) made for any taxing district to
32 pay interest or principal on general obligation bonds issued
33 before March 1, 1995; (c) made for any taxing district to pay
34 interest or principal on bonds issued to refund or continue
-4- LRB9203825MWpk
1 to refund those bonds issued before March 1, 1995; (d) made
2 for any taxing district to pay interest or principal on bonds
3 issued to refund or continue to refund bonds issued after
4 March 1, 1995 that were approved by referendum; (e) made for
5 any taxing district to pay interest or principal on revenue
6 bonds issued before March 1, 1995 for payment of which a
7 property tax levy or the full faith and credit of the unit of
8 local government is pledged; however, a tax for the payment
9 of interest or principal on those bonds shall be made only
10 after the governing body of the unit of local government
11 finds that all other sources for payment are insufficient to
12 make those payments; (f) made for payments under a building
13 commission lease when the lease payments are for the
14 retirement of bonds issued by the commission before March 1,
15 1995 to pay for the building project; (g) made for payments
16 due under installment contracts entered into before March 1,
17 1995; (h) made for payments of principal and interest on
18 bonds issued under the Metropolitan Water Reclamation
19 District Act to finance construction projects initiated
20 before October 1, 1991; (i) made for payments of principal
21 and interest on limited bonds, as defined in Section 3 of the
22 Local Government Debt Reform Act, in an amount not to exceed
23 the debt service extension base less the amount in items (b),
24 (c), and (e) of this definition for non-referendum
25 obligations, except obligations initially issued pursuant to
26 referendum and bonds described in subsection (h) of this
27 definition; (j) made for payments of principal and interest
28 on bonds issued under Section 15 of the Local Government Debt
29 Reform Act; (k) made for payments of principal and interest
30 on bonds authorized by Public Act 88-503 and issued under
31 Section 20a of the Chicago Park District Act for aquarium or
32 museum projects; and (l) made for payments of principal and
33 interest on bonds authorized by Public Act 87-1191 and issued
34 under Section 42 of the Cook County Forest Preserve District
-5- LRB9203825MWpk
1 Act for zoological park projects.
2 "Aggregate extension" for all taxing districts to which
3 this Law applies in accordance with Section 18-213, except
4 for those taxing districts subject to paragraph (2) of
5 subsection (e) of Section 18-213, means the annual corporate
6 extension for the taxing district and those special purpose
7 extensions that are made annually for the taxing district,
8 excluding special purpose extensions: (a) made for the taxing
9 district to pay interest or principal on general obligation
10 bonds that were approved by referendum; (b) made for any
11 taxing district to pay interest or principal on general
12 obligation bonds issued before the date on which the
13 referendum making this Law applicable to the taxing district
14 is held; (c) made for any taxing district to pay interest or
15 principal on bonds issued to refund or continue to refund
16 those bonds issued before the date on which the referendum
17 making this Law applicable to the taxing district is held;
18 (d) made for any taxing district to pay interest or principal
19 on bonds issued to refund or continue to refund bonds issued
20 after the date on which the referendum making this Law
21 applicable to the taxing district is held if the bonds were
22 approved by referendum after the date on which the referendum
23 making this Law applicable to the taxing district is held;
24 (e) made for any taxing district to pay interest or principal
25 on revenue bonds issued before the date on which the
26 referendum making this Law applicable to the taxing district
27 is held for payment of which a property tax levy or the full
28 faith and credit of the unit of local government is pledged;
29 however, a tax for the payment of interest or principal on
30 those bonds shall be made only after the governing body of
31 the unit of local government finds that all other sources for
32 payment are insufficient to make those payments; (f) made for
33 payments under a building commission lease when the lease
34 payments are for the retirement of bonds issued by the
-6- LRB9203825MWpk
1 commission before the date on which the referendum making
2 this Law applicable to the taxing district is held to pay for
3 the building project; (g) made for payments due under
4 installment contracts entered into before the date on which
5 the referendum making this Law applicable to the taxing
6 district is held; (h) made for payments of principal and
7 interest on limited bonds, as defined in Section 3 of the
8 Local Government Debt Reform Act, in an amount not to exceed
9 the debt service extension base less the amount in items (b),
10 (c), and (e) of this definition for non-referendum
11 obligations, except obligations initially issued pursuant to
12 referendum; (i) made for payments of principal and interest
13 on bonds issued under Section 15 of the Local Government Debt
14 Reform Act; and (j) made for a qualified airport authority to
15 pay interest or principal on general obligation bonds issued
16 for the purpose of paying obligations due under, or financing
17 airport facilities required to be acquired, constructed,
18 installed or equipped pursuant to, contracts entered into
19 before March 1, 1996 (but not including any amendments to
20 such a contract taking effect on or after that date).
21 "Aggregate extension" for all taxing districts to which
22 this Law applies in accordance with paragraph (2) of
23 subsection (e) of Section 18-213 means the annual corporate
24 extension for the taxing district and those special purpose
25 extensions that are made annually for the taxing district,
26 excluding special purpose extensions: (a) made for the taxing
27 district to pay interest or principal on general obligation
28 bonds that were approved by referendum; (b) made for any
29 taxing district to pay interest or principal on general
30 obligation bonds issued before the effective date of this
31 amendatory Act of 1997; (c) made for any taxing district to
32 pay interest or principal on bonds issued to refund or
33 continue to refund those bonds issued before the effective
34 date of this amendatory Act of 1997; (d) made for any taxing
-7- LRB9203825MWpk
1 district to pay interest or principal on bonds issued to
2 refund or continue to refund bonds issued after the effective
3 date of this amendatory Act of 1997 if the bonds were
4 approved by referendum after the effective date of this
5 amendatory Act of 1997; (e) made for any taxing district to
6 pay interest or principal on revenue bonds issued before the
7 effective date of this amendatory Act of 1997 for payment of
8 which a property tax levy or the full faith and credit of the
9 unit of local government is pledged; however, a tax for the
10 payment of interest or principal on those bonds shall be made
11 only after the governing body of the unit of local government
12 finds that all other sources for payment are insufficient to
13 make those payments; (f) made for payments under a building
14 commission lease when the lease payments are for the
15 retirement of bonds issued by the commission before the
16 effective date of this amendatory Act of 1997 to pay for the
17 building project; (g) made for payments due under installment
18 contracts entered into before the effective date of this
19 amendatory Act of 1997; (h) made for payments of principal
20 and interest on limited bonds, as defined in Section 3 of the
21 Local Government Debt Reform Act, in an amount not to exceed
22 the debt service extension base less the amount in items (b),
23 (c), and (e) of this definition for non-referendum
24 obligations, except obligations initially issued pursuant to
25 referendum; (i) made for payments of principal and interest
26 on bonds issued under Section 15 of the Local Government Debt
27 Reform Act; and (j) made for a qualified airport authority to
28 pay interest or principal on general obligation bonds issued
29 for the purpose of paying obligations due under, or financing
30 airport facilities required to be acquired, constructed,
31 installed or equipped pursuant to, contracts entered into
32 before March 1, 1996 (but not including any amendments to
33 such a contract taking effect on or after that date).
34 "Debt service extension base" means an amount equal to
-8- LRB9203825MWpk
1 that portion of the extension for a taxing district for the
2 1994 levy year, or for those taxing districts subject to this
3 Law in accordance with Section 18-213, except for those
4 subject to paragraph (2) of subsection (e) of Section 18-213,
5 for the levy year in which the referendum making this Law
6 applicable to the taxing district is held, or for those
7 taxing districts subject to this Law in accordance with
8 paragraph (2) of subsection (e) of Section 18-213 for the
9 1996 levy year, constituting an extension for payment of
10 principal and interest on bonds issued by the taxing district
11 without referendum, but not including (i) bonds authorized by
12 Public Act 88-503 and issued under Section 20a of the Chicago
13 Park District Act for aquarium and museum projects; (ii)
14 bonds issued under Section 15 of the Local Government Debt
15 Reform Act; or (iii) refunding obligations issued to refund
16 or to continue to refund obligations initially issued
17 pursuant to referendum. The debt service extension base may
18 be established or increased as provided under Section 18-212.
19 "Special purpose extensions" include, but are not limited
20 to, extensions for levies made on an annual basis for
21 unemployment and workers' compensation, self-insurance,
22 contributions to pension plans, and extensions made pursuant
23 to Section 6-601 of the Illinois Highway Code for a road
24 district's permanent road fund whether levied annually or
25 not. The extension for a special service area is not
26 included in the aggregate extension.
27 "Aggregate extension base" means the taxing district's
28 last preceding aggregate extension as adjusted under Sections
29 18-215 through 18-230.
30 "Levy year" has the same meaning as "year" under Section
31 1-155.
32 "New property" means (i) the assessed value, after final
33 board of review or board of appeals action, of new
34 improvements or additions to existing improvements on any
-9- LRB9203825MWpk
1 parcel of real property that increase the assessed value of
2 that real property during the levy year multiplied by the
3 equalization factor issued by the Department under Section
4 17-30 and (ii) the assessed value, after final board of
5 review or board of appeals action, of real property not
6 exempt from real estate taxation, which real property was
7 exempt from real estate taxation for any portion of the
8 immediately preceding levy year, multiplied by the
9 equalization factor issued by the Department under Section
10 17-30. In addition, the county clerk in a county containing
11 a population of 3,000,000 or more shall include in the 1997
12 recovered tax increment value for any school district, any
13 recovered tax increment value that was applicable to the 1995
14 tax year calculations.
15 "Qualified airport authority" means an airport authority
16 organized under the Airport Authorities Act and located in a
17 county bordering on the State of Wisconsin and having a
18 population in excess of 200,000 and not greater than 500,000.
19 "Recovered tax increment value" means, except as
20 otherwise provided in this paragraph, the amount of the
21 current year's equalized assessed value, in the first year
22 after a municipality terminates the designation of an area as
23 a redevelopment project area previously established under the
24 Tax Increment Allocation Development Act in the Illinois
25 Municipal Code, previously established under the Industrial
26 Jobs Recovery Law in the Illinois Municipal Code, or
27 previously established under the Economic Development Area
28 Tax Increment Allocation Act, of each taxable lot, block,
29 tract, or parcel of real property in the redevelopment
30 project area over and above the initial equalized assessed
31 value of each property in the redevelopment project area.
32 For the taxes which are extended for the 1997 levy year, the
33 recovered tax increment value for a non-home rule taxing
34 district that first became subject to this Law for the 1995
-10- LRB9203825MWpk
1 levy year because a majority of its 1994 equalized assessed
2 value was in an affected county or counties shall be
3 increased if a municipality terminated the designation of an
4 area in 1993 as a redevelopment project area previously
5 established under the Tax Increment Allocation Development
6 Act in the Illinois Municipal Code, previously established
7 under the Industrial Jobs Recovery Law in the Illinois
8 Municipal Code, or previously established under the Economic
9 Development Area Tax Increment Allocation Act, by an amount
10 equal to the 1994 equalized assessed value of each taxable
11 lot, block, tract, or parcel of real property in the
12 redevelopment project area over and above the initial
13 equalized assessed value of each property in the
14 redevelopment project area. In the first year after a
15 municipality removes a taxable lot, block, tract, or parcel
16 of real property from a redevelopment project area
17 established under the Tax Increment Allocation Development
18 Act in the Illinois Municipal Code, the Industrial Jobs
19 Recovery Law in the Illinois Municipal Code, or the Economic
20 Development Area Tax Increment Allocation Act, "recovered tax
21 increment value" means the amount of the current year's
22 equalized assessed value of each taxable lot, block, tract,
23 or parcel of real property removed from the redevelopment
24 project area over and above the initial equalized assessed
25 value of that real property before removal from the
26 redevelopment project area.
27 Except as otherwise provided in this Section, "limiting
28 rate" means a fraction the numerator of which is the last
29 preceding aggregate extension base times an amount equal to
30 one plus the extension limitation defined in this Section and
31 the denominator of which is the current year's equalized
32 assessed value of all real property in the territory under
33 the jurisdiction of the taxing district during the prior levy
34 year. For those taxing districts that reduced their
-11- LRB9203825MWpk
1 aggregate extension for the last preceding levy year, the
2 highest aggregate extension in any of the last 3 preceding
3 levy years shall be used for the purpose of computing the
4 limiting rate. The denominator shall not include new
5 property. The denominator shall not include the recovered
6 tax increment value.
7 (Source: P.A. 90-485, eff. 1-1-98; 90-511, eff. 8-22-97;
8 90-568, eff. 1-1-99; 90-616, eff. 7-10-98; 90-655, eff.
9 7-30-98; 91-357, eff. 7-29-99; 91-478, eff. 11-1-99.)
10 Section 10. The Public Building Commission Act is
11 amended by changing Section 14 as follows:
12 (50 ILCS 20/14) (from Ch. 85, par. 1044)
13 Sec. 14. A Public Building Commission is a municipal
14 corporation and constitutes a body both corporate and politic
15 separate and apart from any other municipal corporation or
16 any other public or governmental agency. It may sue and be
17 sued, plead and be impleaded, and have a seal and alter such
18 at pleasure, have perpetual succession, make and execute
19 contracts, leases, deeds and other instruments necessary or
20 convenient to the exercise of its powers, and make and from
21 time to time amend and repeal its by-laws, rules and
22 regulations not inconsistent with this Act. In addition, it
23 has and shall exercise the following public and essential
24 governmental powers and functions and all other powers
25 incidental or necessary, to carry out and effectuate such
26 express powers:
27 (a) To select, locate and designate, at any time and
28 from time to time, one or more areas lying wholly within the
29 territorial limits of the municipality or of the county seat
30 of the county in which the Commission is organized, or within
31 the territorial limits of the county if the site is to be
32 used for county purposes, or (in the case of a county having
-12- LRB9203825MWpk
1 a population of at least 20,000 but not more than 21,000 as
2 determined by the 1980 federal census) within the territorial
3 limits of the county if the site is to be used for municipal
4 purposes, as the site or sites to be acquired for the
5 erection, alteration or improvement of a building or
6 buildings, public improvement or other facilities for the
7 purposes set forth in this Section. The site or sites
8 selected shall be conveniently located within such county,
9 municipality or county seat and of an area in size
10 sufficiently large to accomplish and effectuate the purpose
11 of this Act and sufficient to provide for proper
12 architectural setting and adequate landscaping for such
13 building or buildings, public improvement or other
14 facilities.
15 (1) Where the governing body of the county seat or the
16 governing body of any municipality with 3,000 or more
17 inhabitants has adopted the original resolution for the
18 creation of the Commission, the site or sites selected, and
19 in the case of a project for an Airport Authority, the site
20 or sites selected, the project and any lease agreements, are
21 subject to approval by a majority of the members of the
22 governing body of the county seat or by a majority of the
23 members of the governing body of the municipality. However,
24 where the site is for a county project and is outside the
25 limits of a municipality, the approval of the site shall be
26 by the county board.
27 (2) Where the original resolution for the creation of
28 the Commission has been adopted by the governing body of the
29 county, the site or sites selected, and in the case of a
30 project for an Airport Authority, the site or sites selected,
31 the project and any lease agreements, are subject to approval
32 by a majority of the members of the governing body of the
33 county and to approval by 3/4 of the members of the governing
34 body of the county seat, except that approval of 3/4 of the
-13- LRB9203825MWpk
1 members of the governing body of the county seat is not
2 required where the site is for a county or (in the case of a
3 county having a population of at least 20,000 but not more
4 than 21,000 as determined by the 1980 federal census) a
5 municipal project and is outside the limits of the county
6 seat, in which case approval by 3/4 of the members of the
7 governing body of any municipality where the site or sites
8 will be located is required; and, if such site or sites so
9 selected, and in the case of a project for an Airport
10 Authority, the site or sites selected, the project and any
11 lease agreements, are not approved by 3/4 of the members of
12 the governing body of the county seat the Commission may by
13 resolution request that the approval of the site or sites so
14 selected, and in the case of a project for an Airport
15 Authority, the site or sites selected, the project and any
16 lease agreements, be submitted to a referendum at the next
17 general election in accordance with the general election law,
18 and shall present such resolution to the county clerk. Upon
19 receipt of such resolution the county clerk shall immediately
20 notify the board of election commissioners, if any; however,
21 referenda pursuant to such resolution shall not be called
22 more frequently than once in 4 years. The proposition shall
23 be in substantially the following form:
24 -------------------------------------------------------------
25 Shall ...... be acquired for the
26 erection, alteration or improvement of a
27 building or buildings pursuant to the YES
28 Public Building Commission Act,
29 approved July 5, 1955, which project
30 it is estimated will cost $........., -------------------
31 including the cost of the site
32 acquisition and for the payment of which
33 revenue bonds in the amount of $...., NO
34 maturing .... and bearing interest at
-14- LRB9203825MWpk
1 the rate of .....% per annum, may be issued?
2 -------------------------------------------------------------
3 If a majority of the electors voting on the proposition vote
4 in favor of the proposition, the site or sites so selected,
5 and in the case of a project for an Airport Authority, the
6 site or sites selected, the project and any lease agreements,
7 shall be approved. Except where approval of the site or
8 sites has been obtained by referendum, the area or areas may
9 be enlarged by the Board of Commissioners, from time to time,
10 as the need therefor arises. The selection, location and
11 designation of more than one area may, but need not, be made
12 at one time but may be made from time to time.
13 (b) To acquire the fee simple title to the real property
14 located within such area or areas, including easements and
15 reversionary interests in the streets, alleys and other
16 public places and personal property required for its
17 purposes, by purchase, gift, legacy, or by the exercise of
18 the power of eminent domain, and title thereto shall be taken
19 in the corporate name of the Commission. Eminent domain
20 proceedings shall be in all respects in the manner provided
21 for the exercise of the right of eminent domain under Article
22 VII of the Code of Civil Procedure, approved August 19, 1981,
23 as amended. All land and appurtenances thereto, acquired or
24 owned by the Commission are to be deemed acquired or owned
25 for a public use or public purpose.
26 Any municipal corporation which owns fee simple title to
27 real property located within such an area, may convey such
28 real property, or any part thereof, to the Commission with a
29 provision in such conveyance for the reverter of such real
30 property to the transferor municipal corporation at such time
31 as all revenue bonds and other obligations of the Commission
32 incident to the real property so conveyed, have been paid in
33 full, and such Commission is hereby authorized to accept such
34 a conveyance.
-15- LRB9203825MWpk
1 (c) To demolish, repair, alter or improve any building
2 or buildings within the area or areas and to erect a new
3 building or buildings, improvement and other facilities
4 within the area or areas to provide space for the conduct of
5 the executive, legislative and judicial functions of
6 government, its various branches, departments and agencies
7 thereof and to provide buildings, improvements and other
8 facilities for use by local government in the furnishing of
9 essential governmental, health, safety and welfare services
10 to its citizens; to furnish and equip such building or
11 buildings, improvements and other facilities, and maintain
12 and operate them so as to effectuate the purposes of this
13 Act.
14 (d) To pave and improve streets within such area or
15 areas, and to construct, repair and install sidewalks,
16 sewers, waterpipes and other similar facilities and site
17 improvements within such area or areas and to provide for
18 adequate landscaping essential to the preparation of such
19 site or sites in accordance with the purposes of this Act.
20 (e) To make provisions for offstreet parking facilities.
21 (f) To operate, maintain, manage and to make and enter
22 into contracts for the operation, maintenance and management
23 of such buildings and other facilities and to provide rules
24 and regulations for the operation, maintenance and management
25 thereof.
26 (g) To employ and discharge without regard to any Civil
27 Services Act, engineering, architectural, construction, legal
28 and financial experts and such other employees as may be
29 necessary in its judgment to carry out the purposes of this
30 Act and to fix compensation for such employees, and enter
31 into contracts for the employment of any person, firm, or
32 corporation, and for professional services necessary or
33 desirable for the accomplishment of the objects and purposes
34 of the Commission and the proper administration, management,
-16- LRB9203825MWpk
1 protection and control of its property.
2 (h) To rent all or any part or parts of such building,
3 buildings, or other facilities to any municipal corporation
4 that organized or joined in the organization of the Public
5 Building Commission or to any branch, department, or agency
6 thereof, or to any branch, department, or agency of the State
7 or Federal government, or to any other state or any agency or
8 political subdivision of another state with which the
9 Commission has entered into an intergovernmental agreement or
10 contract under the Intergovernmental Cooperation Act, or to
11 any municipal corporation with which the Commission has
12 entered into an intergovernmental agreement or contract under
13 the Intergovernmental Cooperation Act, or to any other
14 municipal corporation, quasi municipal corporation, political
15 subdivision or body politic, or agency thereof, doing
16 business, maintaining an office, or rendering a public
17 service in such county for any period of time, not to exceed
18 30 years.
19 (i) To rent such space in such building or buildings as
20 from time to time may not be needed by any governmental
21 agency for such other purposes as the Board of Commissioners
22 may determine will best serve the comfort and convenience of
23 the occupants of such building or buildings, and upon such
24 terms and in such manner as the Board of Commissioners may
25 determine.
26 (j) To execute written leases evidencing the rental
27 agreements authorized in paragraphs (h) and (i) of this
28 Section.
29 (k) To procure and enter into contracts for any type of
30 insurance or indemnity against loss or damage to property
31 from any cause, including loss of use and occupancy, against
32 death or injury of any person, against employer's liability,
33 against any act of any member, officer or employee of the
34 Public Building Commission in the performance of the duties
-17- LRB9203825MWpk
1 of his office or employment or any other insurable risk, as
2 the Board of Commissioners in its discretion may deem
3 necessary.
4 (l) To accept donations, contributions, capital grants
5 or gifts from any individuals, associations, municipal and
6 private corporations and the United States of America, or any
7 agency or instrumentality thereof, for or in aid of any of
8 the purposes of this Act and to enter into agreements in
9 connection therewith.
10 (m) To borrow money from time to time and in evidence
11 thereof to issue and sell revenue bonds in such amount or
12 amounts as the Board of Commissioners may determine to
13 provide funds for the purpose of acquiring, erecting,
14 demolishing, improving, altering, equipping, repairing,
15 maintaining and operating buildings and other facilities and
16 to acquire sites necessary and convenient therefor and to pay
17 all costs and expenses incident thereto, including, but
18 without in any way limiting the generality of the foregoing,
19 architectural, engineering, legal and financing expense,
20 which may include an amount sufficient to meet the interest
21 charges on such revenue bonds during such period or periods
22 as may elapse prior to the time when the project or projects
23 may become revenue producing and for one year in addition
24 thereto; and to refund and refinance, from time to time,
25 revenue bonds so issued and sold, as often as may be deemed
26 to be advantageous by the Board of Commissioners.
27 (n) To enter into any agreement or contract with any
28 lessee, who, pursuant to the terms of this Act, is renting or
29 is about to rent from the Commission all or part of any
30 building or buildings or facilities, whereby under such
31 agreement or contract such lessee obligates itself to pay all
32 or part of the cost of maintaining and operating the premises
33 so leased. Such agreement may be included as a provision of
34 any lease entered into pursuant to the terms of this Act or
-18- LRB9203825MWpk
1 may be made the subject of a separate agreement or contract
2 between the Commission and such lessee. Notwithstanding any
3 contrary provision of the Property Tax Extension Limitation
4 Law, a lease entered into by a public building commission and
5 a community college district in a county with a population of
6 not less than 300,000 and not more than 400,000 before
7 October 1, 1991, may be amended to provide for the
8 continuation of an annual payment in an amount that is not
9 greater than the maximum annual payment under the lease on
10 the effective date of this amendatory Act of the 92nd General
11 Assembly. For the purposes of Section 18 of this Act, the
12 effective date of the amendment to the lease is the same as
13 the date of the original execution of that lease.
14 (Source: P.A. 86-325; 86-1215; 87-1208.)
[ Top ]