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09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
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| (4) that a lack of decent housing contributes to urban |
2 |
| blight, crime,
anti-social behavior, disease, a higher
need for |
3 |
| public assistance, reduced tax revenues, and the migration of |
4 |
| workers
and their families away from
areas which fail to offer |
5 |
| adequate, decent, and affordable housing;
|
6 |
| (5) that decent, affordable housing is a necessary |
7 |
| ingredient of life
affording each citizen basic human
dignity, |
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| a sense of self-worth, confidence, and a firm foundation upon |
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| which to
build a family and educate
children;
|
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| (6) that in order to foster civic and neighborhood pride, |
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| citizens require
access to educational institutions,
|
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| recreation, parks and open spaces, entertainment, sports, a |
13 |
| reliable
transportation network, cultural
facilities, and |
14 |
| theaters; and
|
15 |
| (7) that the main purpose of this Act is to promote |
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| industrial, commercial,
residential, service,
transportation, |
17 |
| and recreational activities and facilities, thereby reducing
|
18 |
| the evils attendant upon
unemployment and enhancing the public |
19 |
| health, safety, morals, happiness, and
general welfare of the |
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| State.
|
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| Section 15. Definitions. In this Act:
|
22 |
| "Authority" means the Western Illinois Economic |
23 |
| Development Authority.
|
24 |
| "Governmental agency" means any federal, State, or local |
25 |
| governmental body
and any agency or
instrumentality thereof, |
26 |
| corporate or otherwise.
|
27 |
| "Person" means any natural person, firm, partnership, |
28 |
| corporation, both
domestic and foreign,
company, association |
29 |
| or joint stock association and includes any trustee,
receiver, |
30 |
| assignee or personal
representative thereof.
|
31 |
| "Revenue bond" means any bond issued by the Authority, the |
32 |
| principal and
interest of which is payable
solely from revenues |
33 |
| or income derived from any project or activity of the
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09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
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| Authority.
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2 |
| "Board" means the Board of Directors of the Western |
3 |
| Illinois Economic
Development Authority.
|
4 |
| "Governor" means the Governor of the State of Illinois.
|
5 |
| "City" means any city, village, incorporated town, or |
6 |
| township within the
geographical territory of the
Authority.
|
7 |
| "Industrial project" means the following:
|
8 |
| (1) a capital project, including one or more buildings and |
9 |
| other
structures, improvements,
machinery and equipment |
10 |
| whether or not on the same site or sites now existing
or |
11 |
| hereafter acquired,
suitable for use by any manufacturing, |
12 |
| industrial, research, transportation or
commercial enterprise
|
13 |
| including but not limited to use as a factory, mill, processing |
14 |
| plant, assembly
plant, packaging plant,
fabricating plant, |
15 |
| ethanol plant, office building, industrial distribution
|
16 |
| center, warehouse,
repair, overhaul or service
facility, |
17 |
| freight terminal, research facility, test facility, railroad
|
18 |
| facility, port facility, solid waste and wastewater
treatment |
19 |
| and disposal sites and other pollution control facilities, |
20 |
| resource
or waste reduction, recovery,
treatment and disposal |
21 |
| facilities, and including also the sites thereof and
other |
22 |
| rights in land therefore
whether improved or unimproved, site |
23 |
| preparation and landscaping and all
appurtenances and |
24 |
| facilities
incidental thereto such as utilities, access roads, |
25 |
| railroad sidings, truck
docking and similar facilities,
|
26 |
| parking facilities, dockage, wharfage, railroad roadbed, |
27 |
| track, trestle, depot,
terminal, switching and
signaling |
28 |
| equipment or related equipment and other improvements |
29 |
| necessary or
convenient thereto; or
|
30 |
| (2) any land, buildings, machinery or equipment comprising |
31 |
| an addition to or
renovation,
rehabilitation or improvement of |
32 |
| any existing capital project.
|
33 |
| "Commercial project" means any project, including, but not |
34 |
| limited to, one or
more buildings and other
structures, |
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09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
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| improvements, machinery, and equipment, whether or not on the |
2 |
| same
site or sites now existing
or hereafter acquired, suitable |
3 |
| for use by any retail or wholesale concern,
distributorship, or |
4 |
| agency.
|
5 |
| "Project" means an industrial, housing, residential, |
6 |
| commercial, or service
project, or any combination
thereof, |
7 |
| provided that all uses fall within one of the categories |
8 |
| described
above. Any project automatically
includes all site |
9 |
| improvements and new construction involving sidewalks,
sewers, |
10 |
| solid waste and
wastewater treatment and disposal sites and |
11 |
| other pollution control facilities,
resource or waste |
12 |
| reduction,
recovery, treatment and disposal facilities, parks, |
13 |
| open spaces, wildlife
sanctuaries, streets, highways, and
|
14 |
| runways.
|
15 |
| "Lease agreement" means an agreement in which a project |
16 |
| acquired by the
Authority by purchase, gift,
or lease is leased |
17 |
| to any person or corporation that will use, or cause the
|
18 |
| project to be used, as a project,
upon terms providing for |
19 |
| lease rental payments at least sufficient to pay, when due, all |
20 |
| principal of and
interest and premium, if any, on any bonds, |
21 |
| notes, or other evidences of indebtedness of the Authority,
|
22 |
| issued with respect to the project, providing for the |
23 |
| maintenance, insurance, and operation of the project on
terms |
24 |
| satisfactory to the Authority and providing for disposition of |
25 |
| the project upon termination of the lease
term, including |
26 |
| purchase options or abandonment of the premises, with other |
27 |
| terms as may be deemed
desirable by the Authority.
|
28 |
| "Loan agreement" means any agreement in which the Authority |
29 |
| agrees to loan
the proceeds of its bonds,
notes, or other |
30 |
| evidences of indebtedness, issued with respect to a project, to
|
31 |
| any person or corporation
which will use or cause the project |
32 |
| to be used as a project, upon terms
providing for loan |
33 |
| repayment
installments at least sufficient to pay, when due, |
34 |
| all principal of and
interest and premium, if any, on any
|
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| bonds, notes, or other evidences of indebtedness of the |
2 |
| Authority issued with
respect to the project,
providing for |
3 |
| maintenance, insurance, and operation of the project on terms
|
4 |
| satisfactory to the Authority
and providing for other terms |
5 |
| deemed advisable by the Authority.
|
6 |
| "Financial aid" means the expenditure of Authority funds or |
7 |
| funds provided by
the Authority for the
development, |
8 |
| construction, acquisition or improvement of a project, through |
9 |
| the
issuance of revenue bonds,
notes, or other evidences of |
10 |
| indebtedness.
|
11 |
| "Costs incurred in connection with
the development, |
12 |
| construction, acquisition or improvement of a
project" means |
13 |
| the following:
|
14 |
| (1) the cost of purchase and construction of all lands and |
15 |
| improvements in
connection therewith and
equipment and other |
16 |
| property, rights, easements, and franchises acquired which
are |
17 |
| deemed necessary for
the construction;
|
18 |
| (2) financing charges;
|
19 |
| (3) interest costs with respect to bonds, notes, and other |
20 |
| evidences of
indebtedness of the Authority
prior to and during |
21 |
| construction and for a period of 6 months thereafter;
|
22 |
| (4) engineering and legal expenses; and
|
23 |
| (5) the costs of plans, specifications, surveys, and |
24 |
| estimates of costs and
other expenses necessary or
incident to |
25 |
| determining the feasibility or practicability of any project,
|
26 |
| together with such other expenses as
may be necessary or |
27 |
| incident to the financing, insuring, acquisition, and
|
28 |
| construction of a specific project
and the placing of the same |
29 |
| in operation.
|
30 |
| Section 20. Creation.
|
31 |
| (a) There is created a political subdivision, body politic, |
32 |
| and municipal
corporation named the Western
Illinois Economic |
33 |
| Development Authority. The territorial jurisdiction of the
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09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
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| Authority is that geographic
area within the boundaries of the |
2 |
| following counties: Warren,
Henderson, Hancock,
McDonough, |
3 |
| Fulton, Mason, Cass, Schuyler, Brown, Adams, Scott, Morgan,
and |
4 |
| Pike and any
navigable waters and
air space located therein.
|
5 |
| (b) The governing and administrative powers of the |
6 |
| Authority shall be vested
in a body consisting of 21
members as |
7 |
| follows:
|
8 |
| (1) Ex officio members. The Director of Commerce and
|
9 |
| Economic Opportunity, or
a designee of that Department, and |
10 |
| the Director of Central
Management Services, or a
designee |
11 |
| of that Department, shall serve as ex officio members.
|
12 |
| (2) Public members. Six members shall be appointed by |
13 |
| the Governor with the advice and
consent of the Senate. The |
14 |
| county board chairmen of the following counties
shall each |
15 |
| appoint one
member: Warren, Henderson, Hancock, McDonough, |
16 |
| Fulton, Mason,
Cass, Schuyler, Brown,
Adams, Scott, |
17 |
| Morgan, and Pike. All public members shall reside within
|
18 |
| the territorial
jurisdiction of the Authority.
The public |
19 |
| members shall be persons of recognized ability and |
20 |
| experience in one
or more of the following
areas: economic |
21 |
| development, finance, banking, industrial development, |
22 |
| state or
local government, commercial agriculture, small
|
23 |
| business management, real
estate development, community |
24 |
| development, venture finance, organized labor, or
civic or |
25 |
| community
organization.
|
26 |
| (c) 11 members shall constitute a quorum.
|
27 |
| (d) The chairman of the Authority shall be elected annually |
28 |
| by the Board and must be a public member that resides within |
29 |
| the territorial jurisdiction of the Authority.
|
30 |
| (e) The terms of all initial members of the Authority shall |
31 |
| begin 30 days
after the effective date of this
Act.
Of the 6 |
32 |
| original public members appointed by the Governor, 2
shall |
33 |
| serve until the third Monday in January, 2005; 1 shall serve |
34 |
| until the
third Monday in January, 2006; 1 shall serve until |
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09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
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| the third Monday in January,
2007; 1 shall serve until the |
2 |
| third Monday in January, 2008; and 1 shall serve
until the |
3 |
| third Monday in January, 2009. The initial terms of the |
4 |
| original public members appointed by the county board chairman |
5 |
| shall be determined by lot, according to the following |
6 |
| schedule: (i) 3 shall serve until the third Monday in January, |
7 |
| 2005, (ii) 3 shall serve until the third Monday in January, |
8 |
| 2006, (iii) 3 shall serve until the third Monday in January, |
9 |
| 2007, (iv) 2 shall serve until the third Monday in January, |
10 |
| 2008, and (v) 2 shall serve until the third Monday in January, |
11 |
| 2009. All successors to these original
public
members shall be |
12 |
| appointed by the original appointing authority and all |
13 |
| appointments made by the Governor shall be made with the advice |
14 |
| and consent of the Senate, pursuant to subsection (b), and |
15 |
| shall hold office for a term of 6 years
commencing the third |
16 |
| Monday in January of the year in which their term
commences, |
17 |
| except in the case of an appointment to fill a vacancy.
|
18 |
| Vacancies occurring among the public members shall be filled |
19 |
| for the
remainder of the term. In case of
vacancy in a |
20 |
| Governor-appointed membership when the Senate is not in |
21 |
| session,
the Governor may make a
temporary appointment until |
22 |
| the next meeting of the Senate when a person shall
be nominated |
23 |
| to fill the
office and, upon confirmation by the Senate, he or |
24 |
| she shall hold office during
the remainder of the term
and |
25 |
| until a successor is appointed and qualified. Members of the |
26 |
| Authority are
not entitled to
compensation for their services |
27 |
| as members but are entitled to reimbursement
for all necessary |
28 |
| expenses
incurred in connection with the performance of their |
29 |
| duties as members.
|
30 |
| (f) The Governor may remove any public member of the |
31 |
| Authority in case of
incompetence, neglect of
duty, or |
32 |
| malfeasance in office. The chairman of a county board may |
33 |
| remove any
public member appointed
by that chairman in the case |
34 |
| of incompetence, neglect of duty, or malfeasance
in office.
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09300HB0900sam001 |
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| (g) The Board shall appoint an Executive Director who shall |
2 |
| have a
background in finance, including
familiarity with the |
3 |
| legal and procedural requirements of issuing bonds, real
|
4 |
| estate, or economic
development and administration. The |
5 |
| Executive Director shall hold office at the
discretion of the |
6 |
| Board.
The Executive Director shall be the chief administrative |
7 |
| and operational
officer of the Authority, shall
direct and |
8 |
| supervise its administrative affairs and general management, |
9 |
| perform
such other duties as may
be prescribed from time to |
10 |
| time by the members, and receive compensation fixed
by the |
11 |
| Authority. The Department of Commerce and Community Affairs |
12 |
| shall pay
the compensation of the Executive Director from |
13 |
| appropriations received for
that purpose. The
Executive |
14 |
| Director shall attend all meetings of the Authority. However, |
15 |
| no
action of the Authority shall be
invalid on account of the |
16 |
| absence of the Executive Director from a meeting. The
Authority |
17 |
| may engage
the services of
the Illinois Finance Authority, |
18 |
| attorneys, appraisers, engineers, accountants,
credit |
19 |
| analysts, and other consultants if the Western Illinois |
20 |
| Economic
Development Authority deems it advisable.
|
21 |
| Section 25. Duty. All official acts of the Authority shall |
22 |
| require the
approval of at least 11 members. It
shall be the |
23 |
| duty of the Authority to promote development within the |
24 |
| geographic
confines of
Warren, Henderson, Hancock, McDonough, |
25 |
| Fulton, Mason, Cass, Schuyler, Brown,
Adams, Scott, Morgan, and |
26 |
| Pike
counties. The Authority shall use the powers conferred |
27 |
| upon it to assist in the
development, construction,
and |
28 |
| acquisition of industrial, commercial, housing, or residential |
29 |
| projects
within those counties.
|
30 |
| Section 30. Powers.
|
31 |
| (a) The Authority possesses all the powers of a body |
32 |
| corporate necessary and
convenient to accomplish
the purposes |
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LRB093 05335 MKM 43835 a |
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| of this Act, including, without any intended limitation upon |
2 |
| the
general powers hereby
conferred, the following powers:
|
3 |
| (1) to enter into loans, contracts, agreements, and |
4 |
| mortgages in any
matter connected with any of
its corporate |
5 |
| purposes and to invest its funds;
|
6 |
| (2) to sue and be sued;
|
7 |
| (3) to utilize services of the Illinois Finance |
8 |
| Authority necessary to
carry out its purposes;
|
9 |
| (4) to have and use a common seal and to alter the seal |
10 |
| at its discretion;
|
11 |
| (5) to adopt all needful ordinances, resolutions, |
12 |
| bylaws, rules, and
regulations for the conduct of
its |
13 |
| business and affairs and for the management and use of the |
14 |
| projects
developed, constructed, acquired,
and improved in |
15 |
| furtherance of its purposes;
|
16 |
| (6) to designate the fiscal year for the Authority;
|
17 |
| (7) to accept and expend appropriations;
|
18 |
| (8) to acquire, own, lease, sell, or otherwise dispose |
19 |
| of interests in and
to real property and
improvements |
20 |
| situated on that real property and in personal property |
21 |
| necessary
to fulfill the purposes of the
Authority;
|
22 |
| (9) to engage in any activity or operation which is |
23 |
| incidental to and in
furtherance of efficient
operation to |
24 |
| accomplish the Authority's primary purpose;
|
25 |
| (10) to acquire, own, construct, lease, operate, and |
26 |
| maintain bridges,
terminals, terminal facilities,
and port |
27 |
| facilities and to fix and collect just, reasonable, and
|
28 |
| nondiscriminatory charges for the use of such
facilities. |
29 |
| These charges shall be used to defray the reasonable |
30 |
| expenses of
the Authority and to pay the
principal and |
31 |
| interest of any revenue bonds issued by the Authority;
|
32 |
| (11) subject to any applicable condition imposed by |
33 |
| this Act, to locate,
establish and maintain a
public |
34 |
| airport, public airports and public airport facilities |
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LRB093 05335 MKM 43835 a |
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| within its
corporate limits or within or upon any
body of |
2 |
| water adjacent thereto and to construct, develop, expand, |
3 |
| extend and
improve any such airport or
airport facility; |
4 |
| and
|
5 |
| (12) to have and exercise all powers and be subject to |
6 |
| all duties usually
incident to boards of
directors of |
7 |
| corporations.
|
8 |
| (b) The Authority shall not issue any bonds relating to the |
9 |
| financing of a
project located within the
planning and |
10 |
| subdivision control jurisdiction of any municipality or county
|
11 |
| unless: (i) notice, including a
description of the proposed |
12 |
| project and the financing for that project, is
submitted to the |
13 |
| corporate
authorities of the municipality or, in the case of a |
14 |
| proposed project in an
unincorporated area, to the county
board |
15 |
| and (ii) the corporate authorities of the municipality do not, |
16 |
| or the
county board does not, adopt a
resolution disapproving |
17 |
| the project within 45 days after receipt of the notice.
|
18 |
| (c) If any of the powers set forth in this Act are |
19 |
| exercised within the
jurisdictional limits of any
|
20 |
| municipality, all ordinances of the municipality remain in full |
21 |
| force and
effect and are controlling.
|
22 |
| Section 35. Tax avoidance. Notwithstanding any other |
23 |
| provision of law, the
Authority shall not enter into
any |
24 |
| agreement providing for the purchase and lease of tangible |
25 |
| personal
property which results in the
avoidance of taxation |
26 |
| under the Retailers' Occupation Tax Act, the Use Tax Act,
the |
27 |
| Service Use Tax Act,
or the Service Occupation Tax Act, without |
28 |
| the prior written consent of the
Governor.
|
29 |
| Section 40. Bonds.
|
30 |
| (a) The Authority, with the written approval of the |
31 |
| Governor, shall have the
continuing power to issue
bonds, |
32 |
| notes, or other evidences of indebtedness in an aggregate |
|
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09300HB0900sam001 |
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1 |
| amount not to
exceed $250,000,000 for the
following purposes: |
2 |
| (i) development, construction, acquisition, or improvement
of |
3 |
| projects, including those
established by business entities |
4 |
| locating or expanding property within the
territorial |
5 |
| jurisdiction of the
Authority; (ii) entering into venture |
6 |
| capital agreements with businesses
locating or expanding |
7 |
| within the
territorial jurisdiction of the Authority; (iii) |
8 |
| acquisition and improvement of
any property necessary and
|
9 |
| useful in connection therewith; and (iv) for the purposes of |
10 |
| the Employee
Ownership Assistance Act. For
the purpose of |
11 |
| evidencing the obligations of the Authority to repay any money
|
12 |
| borrowed, the Authority
may, pursuant to resolution, from time |
13 |
| to time, issue and dispose of its interest-bearing revenue |
14 |
| bonds,
notes, or other evidences of indebtedness and may also |
15 |
| from time to time issue and dispose of such bonds,
notes, or |
16 |
| other evidences of indebtedness to refund, at maturity, at a |
17 |
| redemption date or in advance of
either, any bonds, notes, or |
18 |
| other evidences of indebtedness pursuant to redemption |
19 |
| provisions or at any
time before maturity. All such bonds, |
20 |
| notes, or other evidences of indebtedness shall be payable |
21 |
| solely and
only from the revenues or income to be derived from |
22 |
| loans made with respect to projects, from the leasing
or sale |
23 |
| of the projects, or from any other funds available to the |
24 |
| Authority for such purposes. The bonds,
notes, or other |
25 |
| evidences of indebtedness may bear such date or dates, may |
26 |
| mature at such time or times not
exceeding 40 years from their |
27 |
| respective dates, may bear interest at such rate or rates not |
28 |
| exceeding the
maximum rate permitted by the Bond Authorization |
29 |
| Act, may be in such form, may carry such registration
|
30 |
| privileges, may be executed in such manner, may be payable at |
31 |
| such place or places, may be made subject
to redemption in such |
32 |
| manner and upon such terms, with or without premium, as is |
33 |
| stated on the face
thereof, may be authenticated in such manner |
34 |
| and may contain such terms and
covenants as may be
provided by |
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LRB093 05335 MKM 43835 a |
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| an applicable resolution.
|
2 |
| (b) The holder or holders of any bonds, notes, or other |
3 |
| evidences of
indebtedness issued by the
Authority may bring |
4 |
| suits at law or proceedings in equity to compel the
performance |
5 |
| and observance by
any corporation or person or by the Authority |
6 |
| or any of its agents or employees
of any contract or covenant
|
7 |
| made with the holders of the bonds, notes, or other evidences |
8 |
| of indebtedness,
to compel such corporation,
person, the |
9 |
| Authority, and any of its agents or employees to perform any |
10 |
| duties
required to be performed
for the benefit of the holders |
11 |
| of the bonds, notes, or other evidences of
indebtedness by the |
12 |
| provision of the
resolution authorizing their issuance and to |
13 |
| enjoin the corporation, person,
the Authority, and any of its
|
14 |
| agents or employees from taking any action in conflict with any |
15 |
| contract or
covenant.
|
16 |
| (c) If the Authority fails to pay the principal of or |
17 |
| interest on any of the
bonds or premium, if any, as the
bond |
18 |
| becomes due, a civil action to compel payment may be instituted |
19 |
| in the
appropriate circuit court by
the holder or holders of |
20 |
| the bonds on which the default of payment exists or by
an |
21 |
| indenture trustee acting
on behalf of the holders. Delivery of |
22 |
| a summons and a copy of the complaint to
the chairman of the |
23 |
| Board
shall constitute sufficient service to give the circuit |
24 |
| court jurisdiction over
the subject matter of the suit and
|
25 |
| jurisdiction over the Authority and its officers named as |
26 |
| defendants for the
purpose of compelling such
payment. Any |
27 |
| case, controversy, or cause of action concerning the validity |
28 |
| of
this Act relates to the
revenue of the State of Illinois.
|
29 |
| (d) Notwithstanding the form and tenor of any bond, note, |
30 |
| or other evidence
of indebtedness and in
the absence of any |
31 |
| express recital on its face that it is non-negotiable, all
such |
32 |
| bonds, notes, and other
evidences of indebtedness shall be |
33 |
| negotiable instruments. Pending the
preparation and execution |
34 |
| of any
bonds, notes, or other evidences of indebtedness, |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| temporary bonds, notes, or
evidences of indebtedness may
be |
2 |
| issued as provided by ordinance.
|
3 |
| (e) To secure the payment of any or all of such bonds, |
4 |
| notes, or other
evidences of indebtedness, the
revenues to be |
5 |
| received by the Authority from a lease agreement or loan
|
6 |
| agreement shall be pledged, and,
for the purpose of setting |
7 |
| forth the covenants and undertakings of the
Authority in |
8 |
| connection with the
issuance of the bonds, notes, or other |
9 |
| evidences of indebtedness and the
issuance of any additional |
10 |
| bonds,
notes or other evidences of indebtedness payable from |
11 |
| such revenues, income, or other funds to be derived
from |
12 |
| projects, the Authority may execute and deliver a mortgage or |
13 |
| trust agreement. A remedy for any
breach or default of the |
14 |
| terms of any mortgage or trust agreement by the Authority may |
15 |
| be by mandamus
proceeding in the appropriate circuit court to |
16 |
| compel performance and compliance under the terms of the
|
17 |
| mortgage or trust agreement, but the trust agreement may |
18 |
| prescribe by whom or on whose behalf the action
may be |
19 |
| instituted.
|
20 |
| (f) Bonds or notes shall be secured as provided in the |
21 |
| authorizing ordinance which may include,
notwithstanding any |
22 |
| other provision of this Act, in addition to any other security, |
23 |
| a specific pledge,
assignment of and lien on, or security |
24 |
| interest in any or all revenues or money of the Authority, from
|
25 |
| whatever source, which may, by law, be used for debt service |
26 |
| purposes and a
specific pledge, or assignment
of and lien on, |
27 |
| or security interest in any funds or accounts established or
|
28 |
| provided for by ordinance of the
Authority authorizing the |
29 |
| issuance of the bonds or notes.
|
30 |
| (g) In the event that the Authority determines that moneys |
31 |
| of the Authority
will not be sufficient for the
payment of the |
32 |
| principal of and interest on its bonds during the next State
|
33 |
| fiscal year, the chairman, as soon
as practicable, shall |
34 |
| certify to the Governor the amount required by the
Authority to |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| enable it to pay the
principal of and interest on the bonds. |
2 |
| The Governor shall submit the certified
amount to the General
|
3 |
| Assembly as soon as practicable, but no later than the end of |
4 |
| the current State
fiscal year. This Section shall
not apply to |
5 |
| any bonds or notes to which the Authority determines, in the
|
6 |
| resolution authorizing the
issuance of the bonds or notes, that |
7 |
| this Section shall not apply. Whenever the
Authority makes this
|
8 |
| determination, it shall be plainly stated on the face of the |
9 |
| bonds or notes and
the determination shall also be
reported to |
10 |
| the Governor.
In the event of a withdrawal of moneys from a |
11 |
| reserve fund established with
respect to any issue or
issues of |
12 |
| bonds of the Authority to pay principal or interest on those |
13 |
| bonds,
the chairman of the Authority,
as soon as practicable, |
14 |
| shall certify to the Governor the amount required to
restore |
15 |
| the reserve fund to the
level required in the resolution or |
16 |
| indenture securing those bonds. The
Governor shall submit the |
17 |
| certified
amount to the General Assembly as soon as |
18 |
| practicable, but no later than the
end of the current State |
19 |
| fiscal
year.
|
20 |
| (h) The State of Illinois pledges to and agrees with the |
21 |
| holders of the
bonds and notes of the Authority
issued pursuant |
22 |
| to this Section that the State will not limit or alter the |
23 |
| rights and powers vested in the
Authority by this Act so as to |
24 |
| impair the terms of any contract made by the Authority with the |
25 |
| holders of
bonds or notes or in any way impair the rights and |
26 |
| remedies of those holders until the bonds and notes,
together |
27 |
| with interest thereon, with interest on any unpaid installments |
28 |
| of interest, and all costs and
expenses in connection with any |
29 |
| action or proceedings by or on behalf of the holders, are fully |
30 |
| met and
discharged. In addition, the State pledges to and |
31 |
| agrees with the holders of the bonds and notes of the
Authority |
32 |
| issued pursuant to this Section that the State will not limit |
33 |
| or alter the basis on which State funds
are to be paid to the |
34 |
| Authority as provided in this Act, or the use of such funds, so |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| as to impair the terms of
any such contract. The Authority is |
2 |
| authorized to include these pledges and agreements of the State |
3 |
| in any
contract with the holders of bonds or notes issued |
4 |
| pursuant to this Section.
|
5 |
| (i) Not less than 30 days prior to the commitment to issue |
6 |
| bonds, notes, or
other evidences of
indebtedness for the |
7 |
| purpose of developing, constructing, acquiring, or
improving |
8 |
| housing or residential
projects, as defined in this Act, the |
9 |
| Authority shall provide notice to the
Executive Director of the |
10 |
| Illinois
Housing Development Authority. Within 30 days after |
11 |
| the notice is provided, the
Illinois Housing
Development |
12 |
| Authority shall, in writing, either express interest in |
13 |
| financing
the project or notify the
Authority that it is not |
14 |
| interested in providing financing and that the
Authority may |
15 |
| finance the project or
seek alternative financing.
|
16 |
| Section 45. Bonds and notes; exemption from taxation. The |
17 |
| creation of the
Authority is in all respects for
the benefit of |
18 |
| the people of Illinois and for the improvement of their health,
|
19 |
| safety, welfare, comfort, and
security, and its purposes are |
20 |
| public purposes. In consideration thereof, the
notes and bonds |
21 |
| of the
Authority issued pursuant to this Act and the income |
22 |
| from these notes and bonds
may be free from all
taxation by the |
23 |
| State or its political subdivisions, exempt for estate,
|
24 |
| transfer, and inheritance taxes. The
exemption from taxation |
25 |
| provided by the preceding sentence shall apply to the
income on |
26 |
| any notes or
bonds of the Authority only if the Authority in |
27 |
| its sole judgment determines
that the exemption enhances
the |
28 |
| marketability of the bonds or notes or reduces the interest |
29 |
| rates that
would otherwise be borne by the
bonds or notes. For |
30 |
| purposes of Section 250 of the Illinois Income Tax Act, the
|
31 |
| exemption of the Authority
shall terminate after all of the |
32 |
| bonds have been paid. The amount of such income that shall be |
33 |
| added and
then subtracted on the Illinois income tax return of |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| a taxpayer, subject to Section 203 of the Illinois Income
Tax |
2 |
| Act, from federal adjusted gross income or federal taxable |
3 |
| income in computing Illinois base income
shall be the interest |
4 |
| net of any bond premium amortization.
|
5 |
| Section 50. Acquisition.
|
6 |
| (a) The Authority may, but need not, acquire title to any |
7 |
| project with
respect to which it exercises its
authority.
|
8 |
| (b) The Authority shall have power to acquire by purchase, |
9 |
| lease, gift, or
otherwise any property or
rights therein from |
10 |
| any person or persons, the State of Illinois, any municipal
|
11 |
| corporation, any local unit of
government, the government of |
12 |
| the United States and any agency or
instrumentality of the |
13 |
| United States,
any body politic, or any county useful for its |
14 |
| purposes, whether improved for
the purposes of any
prospective |
15 |
| project or unimproved. The Authority may also accept any |
16 |
| donation
of funds for its purposes
from any of these sources.
|
17 |
| (c) The Authority shall have power to develop, construct, |
18 |
| and improve,
either under its own direction or
through |
19 |
| collaboration with any approved applicant, or to acquire, |
20 |
| through
purchase or otherwise, any
project, using for this |
21 |
| purpose the proceeds derived from its sale of revenue
bonds, |
22 |
| notes, or other
evidences of indebtedness or governmental loans |
23 |
| or grants and shall have the
power to hold title to those
|
24 |
| projects in the name of the Authority.
|
25 |
| (d) The Authority shall have the power to enter into |
26 |
| intergovernmental
agreements with the State of
Illinois, the |
27 |
| counties of Warren, Henderson, Hancock, McDonough,
Fulton, |
28 |
| Mason, Cass,
Schuyler, Brown, Adams, Scott, Morgan, or Pike, |
29 |
| the Illinois
Development Finance Authority, the Illinois |
30 |
| Housing
Development Authority, the Illinois Education |
31 |
| Facilities Authority, the
Illinois
Farm
Development Authority, |
32 |
| the Rural Bond Bank,
the United States government and any |
33 |
| agency or instrumentality of the United
States, any unit
of |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| local government located within the territory of the Authority, |
2 |
| or any other
unit of government to the
extent allowed by |
3 |
| Article VII, Section 10 of the Illinois Constitution and the
|
4 |
| Intergovernmental
Cooperation Act.
|
5 |
| (e) The Authority shall have the power to share employees |
6 |
| with other units
of government, including
agencies of the |
7 |
| United States, agencies of the State of Illinois, and agencies
|
8 |
| or personnel of any unit of
local government.
|
9 |
| (f) The Authority shall have the power to exercise powers |
10 |
| and issue bonds as
if it were a municipality so
authorized in |
11 |
| Divisions 12.1, 74, 74.1, 74.3, and 74.5 of Article 11 of the
|
12 |
| Illinois Municipal Code.
|
13 |
| Section 55. Enterprise zones. The Authority may by |
14 |
| ordinance designate a
portion of the territorial
jurisdiction |
15 |
| of the Authority for certification as an Enterprise Zone under |
16 |
| the
Illinois Enterprise Zone Act in
addition to any other |
17 |
| enterprise zones which may be created under that Act,
which |
18 |
| area shall have all the
privileges and rights of an Enterprise |
19 |
| Zone pursuant to the Illinois Enterprise
Zone Act, but which |
20 |
| shall not
be counted in determining the number of Enterprise |
21 |
| Zones to be created in any
year pursuant to that Act.
|
22 |
| Section 60. Designation of depository. The Authority shall |
23 |
| biennially
designate a national or State bank or
banks as |
24 |
| depositories of its money. Such depositories shall be |
25 |
| designated only
within the State and upon
condition that bonds |
26 |
| approved as to form and surety by the Authority and at
least |
27 |
| equal in amount to the
maximum sum expected to be on deposit at |
28 |
| any one time shall be first given by
such depositories to the
|
29 |
| Authority, such bonds to be conditioned for the safe keeping |
30 |
| and prompt
repayment of such deposits.
When any of the funds of |
31 |
| the Authority shall be deposited by the treasurer in
any such |
32 |
| depository, the
treasurer and the sureties on his official bond |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| shall, to such extent, be
exempt from liability for the loss of
|
2 |
| any such deposited funds by reason of the failure, bankruptcy, |
3 |
| or any other act
or default of such depository;
provided that |
4 |
| the Authority may accept assignments of collateral by any
|
5 |
| depository of its funds to secure
such deposits to the same |
6 |
| extent and conditioned in the same manner as
assignments of |
7 |
| collateral are
permitted by law to secure deposits of the funds |
8 |
| of any city.
|
9 |
| Section 65. Taxation prohibited. The Authority shall have |
10 |
| no right or
authority to levy any tax or special
assessment, to |
11 |
| pledge the credit of the State or any other subdivision or
|
12 |
| municipal corporation thereof, or to
incur any obligation |
13 |
| enforceable upon any property, either within or without
the |
14 |
| territory of the Authority.
|
15 |
| Section 70. Fees. The Authority may collect fees and |
16 |
| charges in connection
with its loans, commitments,
and |
17 |
| servicing and may provide technical assistance in the |
18 |
| development of the
region.
|
19 |
| Section 75. Reports. The Authority shall annually submit a |
20 |
| report of its
finances to the Auditor General.
The Authority |
21 |
| shall annually submit a report of its activities to the |
22 |
| Governor
and to the General Assembly.
|
23 |
| Section 95. The Tri-City Regional Port District Act is |
24 |
| amended by
changing Section 4 as follows:
|
25 |
| (70 ILCS 1860/4) (from Ch. 19, par. 287)
|
26 |
| Sec. 4. The Port District has the following rights and |
27 |
| powers:
|
28 |
| 1. To issue permits: for the construction of all wharves, |
29 |
| piers,
dolphins, booms, weirs, breakwaters, bulkheads, |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| jetties, bridges or other
structures of any kind, over, under, |
2 |
| in, or within 40 feet of any navigable
waters within the Port |
3 |
| District; for the deposit of rock, earth, sand or
other |
4 |
| material, or any matter of any kind or description in such |
5 |
| waters;
except that nothing contained in this paragraph 1 shall |
6 |
| be construed so
that it will be deemed necessary to obtain a |
7 |
| permit from the District for
the erection, operation or |
8 |
| maintenance of any bridge crossing a waterway
which serves as a |
9 |
| boundary between the State of Illinois and any other
State, |
10 |
| when such erection, operation or maintenance is performed by |
11 |
| any
city within the District;
|
12 |
| 2. To prevent or remove obstructions in navigable waters, |
13 |
| including the
removal of wrecks;
|
14 |
| 3. To locate and establish dock lines and shore or harbor |
15 |
| lines;
|
16 |
| 4. To regulate the anchorage, moorage and speed of water |
17 |
| borne vessels
and to establish and enforce regulations for the |
18 |
| operation of bridges,
except nothing contained in this |
19 |
| paragraph 4 shall be construed to give the
District authority |
20 |
| to regulate the operation of any bridge crossing a
waterway |
21 |
| which serves as a boundary between the State of Illinois and |
22 |
| any
other State, when such operation is performed or to be |
23 |
| performed by any
city within the District;
|
24 |
| 5. To acquire, own, construct, lease for any period not |
25 |
| exceeding 99
years, operate and maintain terminals, terminal |
26 |
| facilities and port
facilities, to fix and collect just, |
27 |
| reasonable, and nondiscriminatory
charges for the use of such |
28 |
| facilities, and, except as provided herein for
short term |
29 |
| financing, to use the charges so collected to defray the
|
30 |
| reasonable expenses of the Port District and to pay the |
31 |
| principal of and
interest on any revenue bonds issued by the |
32 |
| District;
|
33 |
| 6. To acquire, erect, construct, reconstruct, improve, |
34 |
| maintain, operate
and lease in whole or part for any period not |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| exceeding 99 years, central
office or administrative |
2 |
| facilities for use by the Port District, any
tenant, occupant |
3 |
| or user of the District facilities, or anyone engaged in
|
4 |
| commerce in the District.
|
5 |
| 7. To sell, assign, pledge or hypothecate in whole or in |
6 |
| part any
contract, lease, income, charges, tolls, rentals or |
7 |
| fees of the District to
provide short term interim financing |
8 |
| pending the issuance of revenue bonds
by the District, provided |
9 |
| that when such revenue bonds are issued, such
contracts, |
10 |
| leases, income, charges, tolls, rentals or fees shall be used |
11 |
| to
defray the reasonable expenses of the Port District and pay |
12 |
| the principal
of and income on any revenue bonds issued by the |
13 |
| District;
|
14 |
| 8. To acquire, own, construct, lease for any period not |
15 |
| exceeding 99
years, operate, develop and maintain Port District |
16 |
| water and sewerage
systems including but not limited to pipes, |
17 |
| mains, lines, sewers, pumping
stations, settling tanks, |
18 |
| treatment plants, water purification equipment,
wells, storage |
19 |
| facilities and all other equipment, material and facilities
|
20 |
| necessary to such systems, for the use upon payment of a |
21 |
| reasonable fee as
set by the District, of any tenant, occupant |
22 |
| or user of the District
facilities, or anyone engaged in |
23 |
| commerce in the District, provided that
the District shall not |
24 |
| acquire, own, construct, lease, operate, develop and
maintain |
25 |
| such water and sewerage systems if such services can be |
26 |
| provided
by a public utility or municipal corporation upon |
27 |
| request of the District,
and provided further that if the |
28 |
| District develops its own water and
sewerage systems such |
29 |
| systems may be sold or disposed of at anytime to any
public |
30 |
| utility or municipal corporation which will continue to service |
31 |
| the
Port District.
|
32 |
| 9. To create, establish, maintain and operate a public |
33 |
| incinerator for
waste disposal by incineration by any means or |
34 |
| method, for use by
municipalities for the disposal of municipal |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| wastes and by industries for
the disposal of industrial waste; |
2 |
| and to lease land and said incineration
facilities for the |
3 |
| operation of an incinerator for a term not exceeding 99
years |
4 |
| and to fix and collect just, reasonable and non-discriminatory
|
5 |
| charges for the use of such incinerating facilities, and to use |
6 |
| the charges
or lease proceeds to defray the reasonable expenses |
7 |
| of the Port District,
and to pay the principal of and interest |
8 |
| on any revenue bonds issued by the
Port District.
|
9 |
| 10. To locate, establish and maintain a public airport, |
10 |
| public airports
and public airport facilities within its |
11 |
| corporate limits or within or upon
any body of water adjacent |
12 |
| thereto, and to construct, develop, expand,
extend and improve |
13 |
| any such airport or airport facilities;
|
14 |
| 11. To operate, maintain, manage, lease or sublease for any |
15 |
| period not
exceeding 99 years, and to make and enter into |
16 |
| contracts for the use,
operation or management of, and to |
17 |
| provide rules and regulations for, the
operation, management or |
18 |
| use of, any public airport or public airport
facility;
|
19 |
| 12. To fix, charge and collect reasonable rentals, tolls, |
20 |
| fees, and
charges for the use of any public airport, or any |
21 |
| part thereof, or any
public airport facility;
|
22 |
| 13. To establish, maintain, extend and improve roadways and |
23 |
| approaches
by land, water or air to any such airport and to |
24 |
| contract or otherwise
provide, by condemnation if necessary, |
25 |
| for the removal of any airport
hazard or the removal or |
26 |
| relocation of all private structures, railways,
mains, pipes, |
27 |
| conduits, wires, poles, and all other facilities and
equipment |
28 |
| which may interfere with the location, expansion, development, |
29 |
| or
improvement of airports or with the safe approach thereto or |
30 |
| take-off
therefrom by aircraft, and to pay the cost of removal |
31 |
| or relocation; and,
subject to the "Airport Zoning Act", |
32 |
| approved July 17, 1945, as amended,
to adopt, administer and |
33 |
| enforce airport zoning regulations for territory
which is |
34 |
| within its corporate limits or which extends not more than 2 |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| miles
beyond its corporate limits;
|
2 |
| 14. To restrict the height of any object of natural growth |
3 |
| or structure
or structures within the vicinity of any airport |
4 |
| or within the lines of an
approach to any airport and, when |
5 |
| necessary, for the reduction in the
height of any such existing |
6 |
| object or structure, to enter into an agreement
for such |
7 |
| reduction or to accomplish same by condemnation;
|
8 |
| 15. To agree with the state or federal governments or with |
9 |
| any public
agency in respect to the removal and relocation of |
10 |
| any object of natural
growth, airport hazard or any structure |
11 |
| or building within the vicinity of
any airport or within an |
12 |
| approach and which is owned or within the control
of such |
13 |
| government or agency and to pay all or an agreed portion of the
|
14 |
| cost of such removal or relocation;
|
15 |
| 16. For the prevention of accidents, for the furtherance |
16 |
| and protection
of public health, safety and convenience in |
17 |
| respect to aeronautics, for the
protection of property and |
18 |
| persons within the District from any hazard or
nuisance |
19 |
| resulting from the flight of aircraft, for the prevention of
|
20 |
| interference between, or collision of, aircraft while in flight |
21 |
| or upon the
ground, for the prevention or abatement of |
22 |
| nuisances in the air or upon the
ground or for the extension or |
23 |
| increase in the usefulness or safety of any
public airport or |
24 |
| public airport facility owned by the District, the
District may |
25 |
| regulate and restrict the flight of aircraft while within or
|
26 |
| above the incorporated territory of the District;
|
27 |
| 17. To police its physical property only and all waterways |
28 |
| and to
exercise police powers in respect thereto or in respect |
29 |
| to the enforcement
of any rule or regulation provided by the |
30 |
| ordinances of the District and to
employ and commission police |
31 |
| officers and other qualified persons to
enforce the same. The |
32 |
| use of any such public airport or public airport
facility of |
33 |
| the District shall be subject to the reasonable regulation and
|
34 |
| control of the District and upon such reasonable terms and |
|
|
|
09300HB0900sam001 |
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LRB093 05335 MKM 43835 a |
|
|
1 |
| conditions as
shall be established by its Board. A regulatory |
2 |
| ordinance of the District
adopted under any provision of this |
3 |
| Section may provide for a suspension or
revocation of any |
4 |
| rights or privileges within the control of the District
for a |
5 |
| violation of any such regulatory ordinance. Nothing in this |
6 |
| Section
or in other provisions of this Act shall be construed |
7 |
| to authorize such
Board to establish or enforce any regulation |
8 |
| or rule in respect to
aviation, or the operation or maintenance |
9 |
| of any airport facility within
its jurisdiction, which is in |
10 |
| conflict with any federal or state law or
regulation applicable |
11 |
| to the same subject matter;
|
12 |
| 18. To enter into agreements with the corporate authorities |
13 |
| or governing
body of any other municipal corporation or any |
14 |
| political subdivision of
this State to pay the reasonable |
15 |
| expense of services furnished by such
municipal corporation or |
16 |
| political subdivision for or on account of income
producing |
17 |
| properties of the District;
|
18 |
| 19. To enter into contracts dealing in any manner with the |
19 |
| objects and
purposes of this Act;
|
20 |
| 20. To acquire, own, lease, sell or otherwise dispose of |
21 |
| interests in
and to real property and improvements situate |
22 |
| thereon and in personal
property necessary to fulfill the |
23 |
| purposes of the District;
|
24 |
| 21. To designate the fiscal year for the District;
|
25 |
| 22. To engage in any activity or operation which is |
26 |
| incidental to and in
furtherance of efficient operation to |
27 |
| accomplish the District's primary purpose ; .
|
28 |
| 23. To apply to proper authorities of the United States of |
29 |
| America
pursuant to appropriated Federal Law for the right to |
30 |
| establish, operate,
maintain and lease
foreign trade zones and |
31 |
| sub-zones within the limits of the Tri-City Regional Port
|
32 |
| District or within the jurisdiction of the United States |
33 |
| Customs Service
Office of the St. Louis Port of Entry and to |
34 |
| establish, operate, maintain
and lease such foreign trade zones
|
|
|
|
09300HB0900sam001 |
- 24 - |
LRB093 05335 MKM 43835 a |
|
|
1 |
| and the sub-zones ; .
|
2 |
| 24. To operate, maintain, manage, lease, or sublease for |
3 |
| any period not
exceeding 99 years any former military base |
4 |
| owned or leased by the District
and within its jurisdictional |
5 |
| boundaries, to make and enter into any contract
for
the
use, |
6 |
| operation, or management of any former military base owned or |
7 |
| leased by
the District and located within its jurisdictional
|
8 |
| boundaries,
and to provide rules and regulations for the |
9 |
| development, redevelopment, and
expansion of any former |
10 |
| military base owned or leased by the District and
located |
11 |
| within its jurisdictional boundaries;
|
12 |
| 25. To locate, establish, re-establish, expand or renew, |
13 |
| construct or
reconstruct, operate, and maintain any facility, |
14 |
| building, structure, or
improvement for a use or a purpose |
15 |
| consistent with any use or purpose of any
former military base |
16 |
| owned or leased by the District and located within its
|
17 |
| jurisdictional boundaries; |
18 |
| 26. To acquire, own, sell, convey, construct, lease for any |
19 |
| period not
exceeding 99 years, manage, operate, expand, |
20 |
| develop, and maintain any
electrical or telephone system, |
21 |
| including, but not limited to, all equipment,
materials, and |
22 |
| facilities necessary or incidental to that electrical or
|
23 |
| telephone
system, for use, at the option of the District and |
24 |
| upon payment of a reasonable
fee set by the District, of any |
25 |
| tenant or occupant
situated on
any former military base owned |
26 |
| or leased by the District and located within its
jurisdictional |
27 |
| boundaries; |
28 |
| 27. To cause to be incorporated one or more subsidiary |
29 |
| business
corporations, wholly-owned by the District, to own, |
30 |
| operate, maintain, and
manage facilities and services related |
31 |
| to any telephone system, pursuant to
paragraph 26. A subsidiary |
32 |
| corporation formed pursuant to this paragraph shall
(i) be |
33 |
| deemed a telecommunications carrier, as that term is defined in |
34 |
| Section
13-202 of the Public Utilities Act, (ii) have the right |
|
|
|
09300HB0900sam001 |
- 25 - |
LRB093 05335 MKM 43835 a |
|
|
1 |
| to apply to the
Illinois
Commerce Commission for a Certificate |
2 |
| of Service Authority or a Certificate of
Interexchange Service |
3 |
| Authority, and (iii) have the powers necessary to carry
out
|
4 |
| lawful orders of the Illinois Commerce Commission; |
5 |
| 28. To improve, develop, or redevelop any former military |
6 |
| base situated
within the boundaries of the District, in Madison |
7 |
| County, Illinois, and
acquired
by the District from the federal |
8 |
| government, acting by and through the United
States Maritime |
9 |
| Administration, pursuant to any plan for redevelopment,
|
10 |
| development, or improvement of that military base by the |
11 |
| District that is
approved by the United States Maritime |
12 |
| Administration under the terms and
conditions of conveyance of |
13 |
| the former military base to the District by the
federal
|
14 |
| government. |
15 |
| (Source: P.A. 83-690.)
|
16 |
| Section 999. Effective date. This Act takes effect upon |
17 |
| becoming law.".
|