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HB2400 Enrolled |
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LRB096 09379 RCE 19536 b |
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| AN ACT concerning finance.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The State Finance Act is amended by adding |
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| Section 6z-78 as follows: |
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| (30 ILCS 105/6z-78 new)
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| Sec. 6z-78. Capital Projects Fund; bonded indebtedness; |
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| transfers. Money in the Capital Projects Fund shall, if and |
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| when the State of Illinois incurs any bonded indebtedness using |
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| the bond authorization enacted in this amendatory Act of the |
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| 96th General Assembly, be set aside and used for the purpose of |
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| paying and discharging annually the principal and interest on |
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| that bonded indebtedness then due and payable. |
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| In addition to other transfers to the General Obligation |
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| Bond Retirement and Interest Fund made pursuant to Section 15 |
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| of the General Obligation Bond Act, upon each delivery of |
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| general obligation bonds using bond authorization enacted in |
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| this amendatory Act of the 96th General Assembly the State |
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| Comptroller shall compute and certify to the State Treasurer |
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| the total amount of principal of, interest on, and premium, if |
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| any, on such bonds during the then current and each succeeding |
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| fiscal year. With respect to the interest payable on variable |
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| rate bonds, such certifications shall be calculated at the |
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HB2400 Enrolled |
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LRB096 09379 RCE 19536 b |
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| maximum rate of interest that may be payable during the fiscal |
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| year, after taking into account any credits permitted in the |
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| related indenture or other instrument against the amount of |
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| such interest required to be appropriated for the period. |
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| On or before the last day of each month, the State |
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| Treasurer and State Comptroller shall transfer from the Capital |
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| Projects Fund to the General Obligation Bond Retirement and |
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| Interest Fund an amount sufficient to pay the aggregate of the |
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| principal of, interest on, and premium, if any, on the bonds |
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| payable on their next payment date, divided by the number of |
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| monthly transfers occurring between the last previous payment |
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| date (or the delivery date if no payment date has yet occurred) |
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| and the next succeeding payment date. Interest payable on |
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| variable rate bonds shall be calculated at the maximum rate of |
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| interest that may be payable for the relevant period, after |
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| taking into account any credits permitted in the related |
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| indenture or other instrument against the amount of such |
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| interest required to be appropriated for that period. Interest |
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| for which moneys have already been deposited into the |
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| capitalized interest account within the General Obligation |
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| Bond Retirement and Interest Fund shall not be included in the |
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| calculation of the amounts to be transferred under this |
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| subsection. |
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| Section 10. The General Obligation Bond Act is amended by |
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| changing Sections 2, 3, 4, 5, 6, and 12 as follows:
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HB2400 Enrolled |
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LRB096 09379 RCE 19536 b |
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| (30 ILCS 330/2) (from Ch. 127, par. 652)
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| Sec. 2. Authorization for Bonds. The State of Illinois is |
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| authorized to
issue, sell and provide for the retirement of |
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| General Obligation Bonds of
the State of Illinois for the |
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| categories and specific purposes expressed in
Sections 2 |
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| through 8 of this Act, in the total amount of $33,501,777,443 |
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| $30,693,149,369 .
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| The bonds authorized in this Section 2 and in Section 16 of |
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| this Act are
herein called "Bonds".
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| Of the total amount of Bonds authorized in this Act, up to |
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| $2,200,000,000
in aggregate original principal amount may be |
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| issued and sold in accordance
with the Baccalaureate Savings |
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| Act in the form of General Obligation
College Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, up to |
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| $300,000,000 in
aggregate original principal amount may be |
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| issued and sold in accordance
with the Retirement Savings Act |
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| in the form of General Obligation
Retirement Savings Bonds.
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| Of the total amount of Bonds authorized in this Act, the |
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| additional
$10,000,000,000 authorized by this amendatory Act |
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| of the 93rd General
Assembly shall be used solely as provided |
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| in Section 7.2.
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| The issuance and sale of Bonds pursuant to the General |
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| Obligation Bond
Act is an economical and efficient method of |
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| financing the long-term capital needs of
the State. This Act |
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| will permit the issuance of a multi-purpose General
Obligation |
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LRB096 09379 RCE 19536 b |
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| Bond with uniform terms and features. This will not only lower
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| the cost of registration but also reduce the overall cost of |
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| issuing debt
by improving the marketability of Illinois General |
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| Obligation Bonds.
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| (Source: P.A. 95-1026, eff. 1-12-09; 96-5, eff. 4-3-09.)
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| (30 ILCS 330/3) (from Ch. 127, par. 653)
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| Sec. 3. Capital Facilities. The amount of $7,968,463,443 |
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| $7,320,235,369 is authorized
to be used for the acquisition, |
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| development, construction, reconstruction,
improvement, |
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| financing, architectural planning and installation of capital
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| facilities within the State, consisting of buildings, |
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| structures, durable
equipment, land, and interests in land for |
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| the following specific purposes:
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| (a) $2,511,228,000 $2,211,228,000 for educational |
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| purposes by
State universities and
colleges, the Illinois |
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| Community College Board created by the Public
Community |
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| College Act and for grants to public community colleges as
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| authorized by Sections 5-11 and 5-12 of the Public |
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| Community College Act;
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| (b) $1,617,420,000 $1,607,420,000 for correctional |
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| purposes at
State
prison and correctional centers;
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| (c) $575,183,000 $531,175,000 for open spaces, |
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| recreational and
conservation purposes and the protection |
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| of land;
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| (d) $664,917,000 $589,917,000 for child care |
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LRB096 09379 RCE 19536 b |
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| facilities, mental
and public health facilities, and |
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| facilities for the care of disabled
veterans and their |
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| spouses;
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| (e) $1,630,990,000 $1,455,990,000 for use by the |
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| State, its
departments, authorities, public corporations, |
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| commissions and agencies;
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| (f) $818,100 for cargo handling facilities at port |
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| districts and for
breakwaters, including harbor entrances, |
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| at port districts in conjunction
with facilities for small |
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| boats and pleasure crafts;
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| (g) $248,877,074 $204,657,000 for water resource |
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| management
projects;
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| (h) $16,940,269 for the provision of facilities for |
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| food production
research and related instructional and |
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| public service activities at the
State universities and |
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| public community colleges;
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| (i) $36,000,000 for grants by the Secretary of State, |
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| as
State
Librarian, for central library facilities |
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| authorized by Section 8
of the Illinois Library System Act |
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| and for grants by the Capital
Development Board to units of |
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| local government for public library
facilities;
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| (j) $25,000,000 for the acquisition, development, |
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| construction,
reconstruction, improvement, financing, |
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| architectural planning and
installation of capital |
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| facilities consisting of buildings, structures,
durable |
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| equipment and land for grants to counties, municipalities |
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LRB096 09379 RCE 19536 b |
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| or public
building commissions with correctional |
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| facilities that do not comply with
the minimum standards of |
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| the Department of Corrections under Section 3-15-2
of the |
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| Unified Code of Corrections;
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| (k) $5,000,000 for grants in fiscal year 1988 by the |
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| Department of
Conservation for improvement or expansion of |
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| aquarium facilities located on
property owned by a park |
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| district;
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| (l) $432,590,000 to State agencies for grants to
local |
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| governments for
the acquisition, financing, architectural |
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| planning, development, alteration,
installation, and |
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| construction of capital facilities consisting of |
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| buildings,
structures, durable equipment, and land; and
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| (m) $203,500,000 for the Illinois Open Land Trust
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| Program
as defined by the
Illinois Open Land Trust Act.
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| The amounts authorized above for capital facilities may be |
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| used
for the acquisition, installation, alteration, |
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| construction, or
reconstruction of capital facilities and for |
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| the purchase of equipment
for the purpose of major capital |
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| improvements which will reduce energy
consumption in State |
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| buildings or facilities.
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| (Source: P.A. 91-39, 6-15-99; 91-53, eff. 6-30-99; 91-710, eff. |
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| 5-17-00;
92-13, eff. 6-22-01; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/4) (from Ch. 127, par. 654)
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| Sec. 4. Transportation. The amount of $9,948,799,000 |
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| $8,313,399,000
is authorized for use by the Department of |
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| Transportation for the specific
purpose of promoting and |
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| assuring rapid, efficient, and safe highway, air and
mass |
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| transportation for the inhabitants of the State by providing |
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| monies,
including the making of grants and loans, for the |
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| acquisition, construction,
reconstruction, extension and |
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| improvement of the following transportation
facilities and |
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| equipment, and for the acquisition of real property and
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| interests in real property required or expected to be required |
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| in connection
therewith as follows:
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| (a) $5,432,129,000 for State highways, arterial
highways, |
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| freeways,
roads, bridges, structures separating highways and |
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| railroads and roads, and
bridges on roads maintained by |
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| counties, municipalities, townships or road
districts for the |
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| following specific purposes:
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| (1) $3,330,000,000 for use statewide,
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| (2) $3,677,000 for use outside the Chicago urbanized
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| area,
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| (3) $7,543,000 for use within the Chicago urbanized |
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| area,
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| (4) $13,060,600 for use within the City of Chicago,
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| (5) $58,987,500 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (6) $18,860,900 for use outside the counties of Cook, |
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| DuPage, Kane,
Lake, McHenry and Will, and
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| (7) $2,000,000,000 for use on projects included in |
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LRB096 09379 RCE 19536 b |
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| either (i) the FY09-14 Proposed Highway Improvement |
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| Program as published by the Illinois Department of |
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| Transportation in May 2008 or (ii) the FY10-15 Proposed |
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| Highway Improvement Program to be published by the Illinois |
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| Department of Transportation in the spring of 2009; except |
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| that all projects must be maintenance projects for the |
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| existing State system with the goal of reaching 90% |
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| acceptable condition in the system statewide and further |
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| except that all projects must reflect the generally |
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| accepted historical distribution of projects throughout |
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| the State. |
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| (b) $3,130,070,000 $2,529,670,000 for rail facilities and |
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| for
mass transit facilities, as defined in Section 2705-305 of |
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| the Department of
Transportation Law (20 ILCS 2705/2705-305), |
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| including rapid transit, rail, bus
and other equipment used in |
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| connection therewith by the State or any unit of
local |
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| government, special transportation district, municipal |
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| corporation or
other corporation or public authority |
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| authorized to provide and promote public
transportation within |
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| the State or two or more of the foregoing jointly, for
the |
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| following specific purposes:
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| (1) $2,034,270,000 $1,433,870,000 statewide,
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| (2) $83,350,000 for use within the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will,
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| (3) $12,450,000 for use outside the counties of Cook,
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| DuPage, Kane, Lake, McHenry and Will, and
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LRB096 09379 RCE 19536 b |
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| (4) $1,000,000,000 for use on projects that shall |
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| reflect the generally accepted historical distribution of |
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| projects throughout the State. |
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| (c) $371,600,000 $351,600,000 for airport or aviation |
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| facilities and any equipment used
in connection therewith, |
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| including engineering and land acquisition costs,
by the State |
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| or any unit of local government, special transportation |
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| district,
municipal corporation or other corporation or public |
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| authority authorized
to provide public transportation within |
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| the State, or two or more of the
foregoing acting jointly, and |
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| for the making of deposits into the Airport
Land Loan Revolving |
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| Fund for loans to public airport owners pursuant to the
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| Illinois Aeronautics Act.
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| (d) $1,015,000,000 for use statewide for State highways, |
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| arterial highways, freeways, roads, bridges, structures |
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| separating highways and railroads and roads, and bridges on |
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| roads maintained by counties, municipalities, townships, or |
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| road districts. |
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| (Source: P.A. 96-5, eff. 4-3-09.)
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| (30 ILCS 330/5) (from Ch. 127, par. 655)
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| Sec. 5. School Construction.
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| (a) The amount of $58,450,000 is authorized to
make grants |
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| to local school
districts for the acquisition, development, |
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| construction, reconstruction,
rehabilitation, improvement, |
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| financing, architectural planning and
installation of capital |
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LRB096 09379 RCE 19536 b |
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| facilities, including but not limited to those
required for |
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| special
education building projects provided for in Article 14 |
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| of The School Code,
consisting of buildings, structures, and |
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| durable equipment, and for the
acquisition and improvement of |
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| real property and interests in real property
required, or |
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| expected to be required, in connection therewith.
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| (b) $22,550,000, or so much thereof as may be necessary, |
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| for grants to
school districts for the making of principal and |
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| interest payments, required
to be made, on bonds issued by such |
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| school districts after January 1, 1969,
pursuant to any |
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| indenture, ordinance, resolution, agreement or contract
to |
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| provide funds for the acquisition, development, construction,
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| reconstruction, rehabilitation, improvement, architectural |
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| planning and installation of
capital facilities consisting of |
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| buildings, structures, durable equipment
and land for |
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| educational purposes or for lease payments required to be made
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| by a school district for principal and interest payments on |
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| bonds issued
by a Public Building Commission after January 1, |
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| 1969.
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| (c) $10,000,000 for grants to school districts for the |
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| acquisition,
development, construction, reconstruction, |
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| rehabilitation, improvement,
architectural
planning and |
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| installation of capital facilities consisting of buildings
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| structures, durable equipment and land for special education |
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| building projects.
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| (d) $9,000,000 for grants to school districts for the |
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LRB096 09379 RCE 19536 b |
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| reconstruction,
rehabilitation, improvement, financing and |
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| architectural planning of capital
facilities, including |
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| construction at another location to replace such capital
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| facilities, consisting of those public school buildings and |
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| temporary school
facilities which, prior to January 1, 1984, |
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| were condemned by the regional
superintendent under Section |
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| 3-14.22 of The School Code or by any State
official having |
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| jurisdiction over building safety.
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| (e) $3,050,000,000 for grants to school districts for
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| school improvement
projects authorized by the School |
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| Construction Law. The bonds shall be sold in
amounts not to |
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| exceed the following schedule, except any bonds not sold during
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| one year shall be added to the bonds to be sold during the |
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| remainder of the
schedule:
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| First year ..................................$200,000,000
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| Second year .................................$450,000,000
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| Third year ..................................$500,000,000
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| Fourth year .................................$500,000,000
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| Fifth year ..................................$800,000,000
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| Sixth year and thereafter ...................$600,000,000
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| (f) $420,000,000 grants to school districts for school |
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| implemented projects authorized by the School Construction |
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| Law. |
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| (Source: P.A. 91-39, eff. 6-15-99; 92-598, eff. 6-28-02.)
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| (30 ILCS 330/6) (from Ch. 127, par. 656)
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LRB096 09379 RCE 19536 b |
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| Sec. 6. Anti-Pollution.
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| (a) The amount of $369,815,000 $319,815,000 is authorized |
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| for
allocation by the
Environmental Protection Agency for |
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| grants or loans to units of local
government in such amounts, |
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| at such times and for such purpose as the Agency
deems |
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| necessary or desirable for the planning, financing, and |
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| construction of
municipal sewage treatment works and solid |
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| waste disposal facilities and for
making of deposits into the |
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| Water Revolving Fund and
the U.S. Environmental Protection Fund |
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| to provide assistance in accordance
with the provisions of |
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| Title IV-A of the Environmental Protection Act.
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| (b) The amount of $215,500,000 $160,500,000 is authorized |
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| for allocation by the
Environmental Protection Agency for |
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| payment of claims submitted to the State
and approved for |
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| payment under the Leaking Underground Storage Tank Program
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| established in Title XVI of the Environmental Protection Act.
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| (Source: P.A. 92-13, eff. 6-22-01; 92-598, eff. 6-28-02; |
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| 93-650, eff. 1-8-04.)
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| (30 ILCS 330/12) (from Ch. 127, par. 662)
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| Sec. 12. Allocation of Proceeds from Sale of Bonds.
|
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| (a) Proceeds from the sale of Bonds, authorized by Section |
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| 3 of this Act,
shall be deposited in the separate fund known as |
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| the Capital Development Fund.
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| (b) Proceeds from the sale of Bonds, authorized by |
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| paragraph (a) of Section
4 of this Act, shall be deposited in |
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LRB096 09379 RCE 19536 b |
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| the separate fund known as the
Transportation Bond, Series A |
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| Fund.
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| (c) Proceeds from the sale of Bonds, authorized by |
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| paragraphs (b) and (c)
of Section 4 of this Act, shall be |
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| deposited in the separate fund known
as the Transportation |
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| Bond, Series B Fund.
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| (c-1) Proceeds from the sale of Bonds, authorized by |
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| paragraph (d) of Section 4 of this Act, shall be deposited into |
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| the Transportation Bond Series D Fund, which is hereby created. |
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| (d) Proceeds from the sale of Bonds, authorized by Section |
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| 5 of this
Act, shall be deposited in the separate fund known as |
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| the School Construction
Fund.
|
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| (e) Proceeds from the sale of Bonds, authorized by Section |
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| 6 of this Act,
shall be deposited in the separate fund known as |
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| the Anti-Pollution Fund.
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| (f) Proceeds from the sale of Bonds, authorized by Section |
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| 7 of this Act,
shall be deposited in the separate fund known as |
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| the Coal Development Fund.
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| (f-2) Proceeds from the sale of Bonds, authorized by |
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| Section 7.2 of this
Act, shall be deposited as set forth in |
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| Section 7.2.
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| (f-5) Proceeds from the sale of Bonds, authorized by |
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| Section 7.5 of this
Act, shall be deposited as set forth in |
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| Section 7.5.
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| (g) Proceeds from the sale of Bonds, authorized by Section |
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| 8 of this Act,
shall be deposited in
the Capital Development |
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LRB096 09379 RCE 19536 b |
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| Fund.
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| (h) Subsequent to the issuance of any Bonds for the |
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| purposes described
in Sections 2 through 8 of this Act, the |
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| Governor and the Director of the
Governor's Office of |
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| Management and Budget may provide for the reallocation of |
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| unspent proceeds
of such Bonds to any other purposes authorized |
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| under said Sections of this
Act, subject to the limitations on |
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| aggregate principal amounts contained
therein. Upon any such |
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| reallocation, such unspent proceeds shall be
transferred to the |
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| appropriate funds as determined by reference to
paragraphs (a) |
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| through (g) of this Section.
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| (Source: P.A. 93-2, eff. 4-7-03; 94-793, eff. 5-19-06.)
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| Section 15. The Build Illinois Bond Act is amended by |
14 |
| changing Sections 2, 4, and 13 as follows:
|
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| (30 ILCS 425/2) (from Ch. 127, par. 2802)
|
16 |
| Sec. 2. Authorization for Bonds. The State of Illinois is
|
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| authorized to issue, sell and provide for the retirement of |
18 |
| limited
obligation bonds, notes and other evidences of |
19 |
| indebtedness of the State of
Illinois in the total principal |
20 |
| amount of $4,615,509,000 $3,805,509,000
herein called "Bonds". |
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| Such authorized amount of Bonds shall
be reduced from time to |
22 |
| time by amounts, if any, which are equal to the
moneys received |
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| by the Department of Revenue in any fiscal year pursuant to
|
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| Section 3-1001 of the "Illinois Vehicle Code", as amended, in |
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HB2400 Enrolled |
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LRB096 09379 RCE 19536 b |
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| excess of the
Annual Specified Amount (as defined in Section 3 |
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| of the "Retailers'
Occupation Tax Act", as amended) and |
3 |
| transferred at the end of such fiscal
year from the General |
4 |
| Revenue Fund to the Build Illinois Purposes Fund (now |
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| abolished) as
provided in Section 3-1001 of said Code; |
6 |
| provided, however, that no such
reduction shall affect the |
7 |
| validity or enforceability of any Bonds issued
prior to such |
8 |
| reduction. Such amount of authorized Bonds
shall be exclusive |
9 |
| of any refunding Bonds issued pursuant to Section 15 of
this |
10 |
| Act and exclusive of any Bonds issued pursuant to this Section |
11 |
| which
are redeemed, purchased, advance refunded, or defeased in |
12 |
| accordance with
paragraph (f) of Section 4 of this Act. Bonds |
13 |
| shall be issued for the
categories and specific purposes |
14 |
| expressed in Section 4 of this Act.
|
15 |
| (Source: P.A. 94-91, eff. 7-1-05.)
|
16 |
| (30 ILCS 425/4) (from Ch. 127, par. 2804)
|
17 |
| Sec. 4. Purposes of Bonds. Bonds shall be issued for the |
18 |
| following
purposes and in the approximate amounts as set forth |
19 |
| below:
|
20 |
| (a) $2,917,000,000 $2,417,000,000 for the expenses of |
21 |
| issuance and
sale of Bonds, including bond discounts, and for |
22 |
| planning, engineering,
acquisition, construction, |
23 |
| reconstruction, development, improvement and
extension of the |
24 |
| public infrastructure in the State of Illinois, including: the
|
25 |
| making of loans or grants to local governments for waste |
|
|
|
HB2400 Enrolled |
- 16 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| disposal systems,
water and sewer line extensions and water |
2 |
| distribution and purification
facilities, rail or air or water |
3 |
| port improvements, gas and electric utility
extensions, |
4 |
| publicly owned industrial and commercial sites, buildings
used |
5 |
| for public administration purposes and other public |
6 |
| infrastructure capital
improvements; the making of loans or |
7 |
| grants to units of local government
for financing and |
8 |
| construction of wastewater facilities; refinancing or
retiring |
9 |
| bonds issued between January 1, 1987 and January 1,
1990 by |
10 |
| home rule municipalities, debt service on which is provided |
11 |
| from a
tax imposed by home rule municipalities prior to January |
12 |
| 1, 1990 on the
sale of food and drugs pursuant to Section |
13 |
| 8-11-1 of the Home Rule
Municipal Retailers' Occupation Tax Act |
14 |
| or Section 8-11-5 of the Home
Rule Municipal Service Occupation |
15 |
| Tax Act; the making of deposits not
to exceed $70,000,000 in |
16 |
| the aggregate into
the Water Pollution Control Revolving Fund |
17 |
| to provide assistance in
accordance with the provisions of |
18 |
| Title IV-A of the Environmental
Protection Act; the planning, |
19 |
| engineering, acquisition,
construction, reconstruction, |
20 |
| alteration, expansion, extension and
improvement of highways, |
21 |
| bridges, structures separating highways and
railroads, rest |
22 |
| areas, interchanges, access
roads to and from any State or |
23 |
| local highway and other transportation
improvement projects |
24 |
| which are related to
economic development activities; the |
25 |
| making of loans or grants for
planning, engineering, |
26 |
| rehabilitation, improvement or construction of rail
and |
|
|
|
HB2400 Enrolled |
- 17 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| transit facilities; the planning, engineering, acquisition,
|
2 |
| construction, reconstruction and improvement of watershed, |
3 |
| drainage, flood
control, recreation and related improvements |
4 |
| and facilities, including
expenses related to land and easement |
5 |
| acquisition, relocation, control
structures, channel work and |
6 |
| clearing and appurtenant work; the making of
grants for |
7 |
| improvement and development of zoos and park district field
|
8 |
| houses and related structures; and the making of grants for |
9 |
| improvement and
development of Navy Pier and related |
10 |
| structures.
|
11 |
| (b) $196,000,000 $186,000,000 for fostering economic |
12 |
| development and
increased employment and the well being of the |
13 |
| citizens of Illinois, including:
the making of grants for |
14 |
| improvement and development of McCormick Place and
related |
15 |
| structures; the
planning and construction of a |
16 |
| microelectronics research center, including
the planning, |
17 |
| engineering, construction, improvement, renovation and
|
18 |
| acquisition of buildings, equipment and related utility |
19 |
| support systems;
the making of loans to businesses and |
20 |
| investments in small businesses;
acquiring real properties for |
21 |
| industrial or commercial site development;
acquiring, |
22 |
| rehabilitating and reconveying industrial and commercial
|
23 |
| properties for the purpose of expanding employment and |
24 |
| encouraging private
and other public sector investment in the |
25 |
| economy of Illinois; the payment
of expenses associated with |
26 |
| siting the Superconducting Super Collider Particle
Accelerator |
|
|
|
HB2400 Enrolled |
- 18 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| in Illinois and with its acquisition, construction,
|
2 |
| maintenance, operation, promotion and support; the making of |
3 |
| loans for the
planning, engineering, acquisition, |
4 |
| construction, improvement and
conversion of facilities and |
5 |
| equipment which will foster the use of
Illinois coal; the |
6 |
| payment of expenses associated with the
promotion, |
7 |
| establishment, acquisition and operation of small business
|
8 |
| incubator facilities and agribusiness research facilities, |
9 |
| including the lease,
purchase, renovation, planning, |
10 |
| engineering, construction and maintenance of
buildings, |
11 |
| utility support systems and equipment designated for such
|
12 |
| purposes and the establishment and maintenance of centralized |
13 |
| support
services within such facilities; and the making of |
14 |
| grants or loans to
units of local government for Urban |
15 |
| Development Action Grant and Housing
Partnership programs.
|
16 |
| (c) $1,352,358,100 $1,052,358,100 for the development and
|
17 |
| improvement of educational,
scientific, technical and |
18 |
| vocational programs and facilities and the
expansion of health |
19 |
| and human services for all citizens of Illinois,
including: the |
20 |
| making of construction and improvement grants and loans
to |
21 |
| public libraries
and library systems; the making of grants and |
22 |
| loans for planning,
engineering, acquisition and construction
|
23 |
| of a new State central library in Springfield; the planning, |
24 |
| engineering,
acquisition and construction of an animal and |
25 |
| dairy sciences facility; the
planning, engineering, |
26 |
| acquisition and construction of a campus and all
related |
|
|
|
HB2400 Enrolled |
- 19 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| buildings, facilities, equipment and materials for Richland
|
2 |
| Community College; the acquisition, rehabilitation and |
3 |
| installation of
equipment and materials for scientific and |
4 |
| historical surveys; the making of
grants or loans for |
5 |
| distribution to eligible vocational education instructional
|
6 |
| programs for the upgrading of vocational education programs, |
7 |
| school shops
and laboratories, including the acquisition, |
8 |
| rehabilitation and
installation of technical equipment and |
9 |
| materials; the making of grants or
loans for distribution to |
10 |
| eligible local educational agencies for the
upgrading of math |
11 |
| and science instructional programs, including the
acquisition |
12 |
| of instructional equipment and materials; miscellaneous |
13 |
| capital
improvements for universities and community colleges |
14 |
| including the
planning, engineering,
construction, |
15 |
| reconstruction, remodeling, improvement, repair and
|
16 |
| installation of capital facilities and costs of planning, |
17 |
| supplies,
equipment, materials, services, and all other |
18 |
| required expenses; the
making of grants or loans for repair, |
19 |
| renovation and miscellaneous capital
improvements for |
20 |
| privately operated colleges and universities and community
|
21 |
| colleges, including the planning, engineering, acquisition, |
22 |
| construction,
reconstruction, remodeling,
improvement, repair |
23 |
| and installation of capital facilities and costs of
planning, |
24 |
| supplies, equipment, materials, services, and all other |
25 |
| required
expenses; and the making of grants or loans for |
26 |
| distribution to local
governments for hospital and other health |
|
|
|
HB2400 Enrolled |
- 20 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| care facilities including the
planning, engineering, |
2 |
| acquisition, construction, reconstruction,
remodeling, |
3 |
| improvement, repair and installation of capital facilities and
|
4 |
| costs of planning, supplies, equipment, materials, services |
5 |
| and all other
required expenses.
|
6 |
| (d) $150,150,900 for protection, preservation,
restoration |
7 |
| and conservation of environmental and natural resources,
|
8 |
| including: the making of grants to soil and water conservation |
9 |
| districts
for the planning and implementation of conservation |
10 |
| practices and for
funding contracts with the Soil Conservation |
11 |
| Service for watershed
planning; the making of grants to units |
12 |
| of local government for the
capital development and improvement |
13 |
| of recreation areas, including
planning and engineering costs, |
14 |
| sewer projects, including planning and
engineering costs and |
15 |
| water projects, including planning
and engineering costs, and |
16 |
| for the acquisition of open space lands,
including the |
17 |
| acquisition of easements and other property interests of less
|
18 |
| than fee simple ownership; the acquisition and related costs |
19 |
| and development
and management of natural heritage lands, |
20 |
| including natural areas and areas
providing habitat for
|
21 |
| endangered species and nongame wildlife, and buffer area lands; |
22 |
| the
acquisition and related costs and development and |
23 |
| management of
habitat lands, including forest, wildlife |
24 |
| habitat and wetlands;
and the removal and disposition of |
25 |
| hazardous substances, including the cost of
project |
26 |
| management, equipment, laboratory analysis, and contractual |
|
|
|
HB2400 Enrolled |
- 21 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| services
necessary for preventative and corrective actions |
2 |
| related to the preservation,
restoration and conservation of |
3 |
| the environment, including deposits not to
exceed $60,000,000 |
4 |
| in the aggregate into the Hazardous Waste Fund and the
|
5 |
| Brownfields Redevelopment Fund for improvements in accordance |
6 |
| with the
provisions of Titles V and XVII of the Environmental |
7 |
| Protection Act.
|
8 |
| (e) The amount specified in paragraph (a) above
shall |
9 |
| include an amount necessary to pay reasonable expenses of each
|
10 |
| issuance and sale of the Bonds, as specified in the related |
11 |
| Bond Sale Order
(hereinafter defined).
|
12 |
| (f) Any unexpended proceeds from any sale of
Bonds which |
13 |
| are held in the Build Illinois Bond Fund may be used to redeem,
|
14 |
| purchase, advance refund, or defease any Bonds outstanding.
|
15 |
| (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99; 91-709, |
16 |
| eff.
5-17-00; 92-9, eff. 6-11-01; 92-598, eff. 6-28-02.)
|
17 |
| (30 ILCS 425/13) (from Ch. 127, par. 2813)
|
18 |
| Sec. 13. Computation of Principal and Interest; Transfer |
19 |
| from Build
Illinois Bond Account; Payment from Build Illinois |
20 |
| Bond Retirement and
Interest Fund. Upon each delivery of Bonds |
21 |
| authorized to be issued under
this Act, the trustee under the |
22 |
| Master Indenture shall compute and certify
to the Director of |
23 |
| the
Governor's Office of Management and Budget, the Comptroller |
24 |
| and the
Treasurer (a) the total amount of the principal of and |
25 |
| the interest and
the premium, if
any, on the Bonds then being |
|
|
|
HB2400 Enrolled |
- 22 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| issued and on Bonds previously issued and
outstanding that will |
2 |
| be payable in order to retire such Bonds
at their stated |
3 |
| maturities or mandatory sinking fund payment dates and (b)
the |
4 |
| amount of principal of and interest and premium, if any, on |
5 |
| such Bonds
that will be payable on each principal, interest and |
6 |
| mandatory sinking fund
payment date according to the tenor of |
7 |
| such Bonds during the then current
and each succeeding fiscal |
8 |
| year. Such certifications shall include with
respect to |
9 |
| interest payable on Variable Rate Bonds the maximum amount of
|
10 |
| interest which may be payable for the relevant period after |
11 |
| taking into
account any credits permitted in the related |
12 |
| indenture against the amount
of such interest required to be |
13 |
| appropriated for such period pursuant to
subsection (c) of |
14 |
| Section 11 of this Act.
|
15 |
| On or before June 20, 1993 and on or before each June 20 |
16 |
| thereafter so
long as Bonds remain outstanding, the trustee |
17 |
| under the Master Indenture
shall deliver to the Director of the
|
18 |
| Governor's Office of Management and Budget (formerly
Bureau of |
19 |
| the Budget), the Comptroller
and the Treasurer a certificate |
20 |
| setting forth the
"Certified Annual Debt Service Requirement" |
21 |
| (hereinafter defined) for the
next succeeding fiscal year. If |
22 |
| Bonds are issued subsequent to the
delivery of any such |
23 |
| certificate, upon the issuance of such Bonds the
trustee under |
24 |
| the Master Indenture shall deliver a supplemental certificate
|
25 |
| setting forth the revisions, if any, in the Certified Annual |
26 |
| Debt Service
Requirement resulting from the issuance of such |
|
|
|
HB2400 Enrolled |
- 23 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| Bonds. The "Certified
Annual Debt Service Requirement" for any |
2 |
| fiscal year shall be an amount
equal to (a) the aggregate |
3 |
| amount of principal, interest and premium, if
any, payable on |
4 |
| outstanding Bonds during such fiscal year plus (b) the amount
|
5 |
| required to be deposited into any reserve fund securing such |
6 |
| Bonds or for the
purpose of retiring or defeasing such Bonds |
7 |
| plus (c) the
amount of any deficiencies in required transfers |
8 |
| of amounts described in
clauses (a) and (b) for any prior |
9 |
| fiscal year, minus (d) the
amount, if any, of such interest to |
10 |
| be paid from Bond proceeds on deposit
under any indenture; |
11 |
| provided, however, that interest payable on Variable
Rate Bonds |
12 |
| shall be calculated at the maximum rate of interest which may |
13 |
| be
payable during such fiscal year after taking into account |
14 |
| any credits
permitted in the related indenture against
the |
15 |
| amount of such interest required to be appropriated for such |
16 |
| period
pursuant to subsection (c) of Section 11 of this Act.
|
17 |
| In each month during fiscal years 1986 through 1993, the |
18 |
| State Treasurer
and Comptroller shall transfer, on the last day
|
19 |
| of such month, from the Build Illinois Bond Account to the |
20 |
| Build Illinois Bond
Retirement and Interest Fund and shall make |
21 |
| payment from the Build Illinois
Bond Retirement and Interest |
22 |
| Fund to the trustee under the Master Indenture
of an amount |
23 |
| equal to 1/12 of 150% of the amount set forth below for each
|
24 |
| such fiscal year, plus any cumulative deficiency in such
|
25 |
| transfers and payments for prior months; provided that such |
26 |
| transfers shall
commence in October, 1985 and such amounts for |
|
|
|
HB2400 Enrolled |
- 24 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| fiscal year 1986 shall equal
1/9 of 150% of the amount set |
2 |
| forth below for such fiscal year:
|
|
3 | | Fiscal Year |
Amount |
|
4 | | 1986 |
$15,000,000 |
|
5 | | 1987 |
$25,000,000 |
|
6 | | 1988 |
$40,000,000 |
|
7 | | 1989 |
$54,000,000 |
|
8 | | 1990 |
$85,400,000 |
|
9 | | 1991 |
$133,600,000 |
|
10 | | 1992 |
$164,400,000 |
|
11 | | 1993 |
$188,900,000 |
|
12 |
| provided that payments of such amounts from the Build Illinois |
13 |
| Bond
Retirement and Interest Fund to the trustee under the |
14 |
| Master Indenture
shall commence on the last day of the month in |
15 |
| which Bonds are initially
issued under this Act; and, further |
16 |
| provided, that the first such payment
to said trustee shall |
17 |
| equal the entire amount then on deposit in the Build
Illinois |
18 |
| Bond Retirement and Interest Fund; and, further provided, that |
19 |
| the
aggregate amount of transfers and payments for any such |
20 |
| fiscal year shall
not exceed the amount set forth above for |
21 |
| such fiscal year.
|
22 |
| In each month in which Bonds are outstanding during fiscal |
23 |
| year 1994 and
each fiscal year thereafter, the State Treasurer |
24 |
| and Comptroller shall
transfer, on the last day of such month,
|
25 |
| (i) with respect to Bonds constituting bonds issued pursuant to |
26 |
| the bond authorization enacted pursuant to this amendatory Act |
|
|
|
HB2400 Enrolled |
- 25 - |
LRB096 09379 RCE 19536 b |
|
|
1 |
| of the 96th General Assembly (and any refunding Bonds issued to |
2 |
| refund such Bonds), first from the Capital Projects Fund and |
3 |
| second, if needed, from the Build Illinois Bond Account and |
4 |
| (ii) with respect to all other Bonds not described in clause |
5 |
| (i), from the Build Illinois Bond Account, in each case, from |
6 |
| the Build Illinois Bond Account to the Build Illinois Bond |
7 |
| Retirement
and Interest Fund and shall make payment from the |
8 |
| Build Illinois Bond
Retirement and Interest Fund to the trustee |
9 |
| under the Master Indenture of an
amount equal to the greater of |
10 |
| (a) 1/12th of 150% of the Certified Annual
Debt Service |
11 |
| Requirement or (b) the Tax Act Amount (as defined in Section 3
|
12 |
| of the "Retailers' Occupation Tax Act", as amended) deposited |
13 |
| in the Build
Illinois Bond Account during such month, plus any |
14 |
| cumulative deficiency in
such transfers and payments for prior |
15 |
| months; provided that such transfers
and payments for any such |
16 |
| fiscal year shall not exceed the greater of (a)
the Certified |
17 |
| Annual Debt Service Requirement or (b) the Tax Act Amount.
|
18 |
| (Source: P.A. 94-793, eff. 5-19-06.)
|
19 |
| Section 99. Effective date. This Act takes effect July 1, |
20 |
| 2009.
|