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90_SB1805
Increases General Obligation Bond authorization by
$535,436,000 as follows:
Capital Facilities $464,231,000
Transportation Series B Mass Transit $47,470,000
Anti-Pollution $23,735,000
Provides that proceeds from sale of bonds under Section 5
of the Act shall be deposited in the School Construction
Fund.
Effective upon becoming law.
BOB-GOBA99
BOB-GOBA99
1 AN ACT in relation to bonds.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 1. The General Obligation Bond Act is amended by
5 changing Sections 2, 3, 4, 6, and 12 as follows:
6 (30 ILCS 330/2) (from Ch. 127, par. 652)
7 Sec. 2. Authorization for Bonds. The State of Illinois
8 is authorized to issue, sell and provide for the retirement
9 of General Obligation Bonds of the State of Illinois in the
10 total amount of $10,870,344,392 $10,334,908,392 herein called
11 "Bonds".
12 Of the total amount of bonds authorized above, up to
13 $2,200,000,000 in aggregate original principal amount may be
14 issued and sold in accordance with the Baccalaureate Savings
15 Act in the form of General Obligation College Savings Bonds.
16 Of the total amount of bonds authorized above, up to
17 $300,000,000 in aggregate original principal amount may be
18 issued and sold in accordance with the Retirement Savings Act
19 in the form of General Obligation Retirement Savings Bonds.
20 The issuance and sale of Bonds pursuant to the General
21 Obligation Bond Act is an economical and efficient method of
22 financing the capital needs of the State. This Act will
23 permit the issuance of a multi-purpose General Obligation
24 Bond with uniform terms and features. This will not only
25 lower the cost of registration but also reduce the overall
26 cost of issuing debt by improving the marketability of
27 Illinois General Obligation Bonds.
28 Bonds shall be issued for the categories and specific
29 purposes expressed in Sections 2 through 8 and Section 16 of
30 this Act.
31 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
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1 eff. 12-8-97.)
2 (30 ILCS 330/3) (from Ch. 127, par. 653)
3 Sec. 3. Capital Facilities. The amount of $4,310,314,392
4 $3,846,083,392 is authorized to be used for the acquisition,
5 development, construction, reconstruction, improvement,
6 financing, architectural planning and installation of capital
7 facilities within the State, consisting of buildings,
8 structures, durable equipment, land, and interests in land
9 for the following specific purposes:
10 (a) $1,182,530,246 $1,032,672,246 for educational
11 purposes by State universities and colleges, the Illinois
12 Community College Board created by the Public Community
13 College Act and for grants to public community colleges as
14 authorized by Sections 5-11 and 5-12 of the Public Community
15 College Act;
16 (b) $1,125,108,368 $1,027,213,368 for correctional
17 purposes at State prison and correctional centers;
18 (c) $365,824,486 $298,682,486 for open spaces,
19 recreational and conservation purposes and the protection of
20 land;
21 (d) $482,280,486 $451,215,486 for child care facilities,
22 mental and public health facilities, and facilities for the
23 care of disabled veterans and their spouses;
24 (e) 885,924,641 $809,568,641 for use by the State, its
25 departments, authorities, public corporations, commissions
26 and agencies;
27 (f) $818,100 for cargo handling facilities at port
28 districts and for breakwaters, including harbor entrances, at
29 port districts in conjunction with facilities for small boats
30 and pleasure crafts;
31 (g) $146,257,796 $137,672,796 for water resource
32 management projects;
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1 (h) $16,940,269 for the provision of facilities for food
2 production research and related instructional and public
3 service activities at the State universities and public
4 community colleges;
5 (i) $34,000,000 for grants by the Secretary of State, as
6 State Librarian, for central library facilities authorized by
7 Section 8 of the Illinois Library System Act and for grants
8 by the Capital Development Board to units of local government
9 for public library facilities;
10 (j) $25,000,000 for the acquisition, development,
11 construction, reconstruction, improvement, financing,
12 architectural planning and installation of capital facilities
13 consisting of buildings, structures, durable equipment and
14 land for grants to counties, municipalities or public
15 building commissions with correctional facilities that do not
16 comply with the minimum standards of the Department of
17 Corrections under Section 3-15-2 of the Unified Code of
18 Corrections;
19 (k) $5,000,000 for grants in fiscal year 1988 by the
20 Department of Conservation for improvement or expansion of
21 aquarium facilities located on property owned by a park
22 district; and
23 (l) $40,630,000 $7,300,000 to State agencies for grants
24 to local governments for the acquisition, financing,
25 architectural planning, development, alteration,
26 installation, and construction of capital facilities
27 consisting of buildings, structures, durable equipment, and
28 land.
29 The amounts authorized above for capital facilities may
30 be used for the acquisition, installation, alteration,
31 construction, or reconstruction of capital facilities and for
32 the purchase of equipment for the purpose of major capital
33 improvements which will reduce energy consumption in State
34 buildings or facilities.
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1 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
2 eff. 12-8-97.)
3 (30 ILCS 330/4) (from Ch. 127, par. 654)
4 Sec. 4. Transportation. The amount of $2,484,270,000
5 $2,436,800,000 is authorized for use by the Department of
6 Transportation for the specific purpose of promoting and
7 assuring rapid, efficient, and safe highway, air and mass
8 transportation for the inhabitants of the State by providing
9 monies, including the making of grants and loans, for the
10 acquisition, construction, reconstruction, extension and
11 improvement of the following transportation facilities and
12 equipment, and for the acquisition of real property and
13 interests in real property required or expected to be
14 required in connection therewith as follows:
15 (a) $1,411,000,000 for State highways, arterial
16 highways, freeways, roads, bridges, structures separating
17 highways and railroads and roads, and bridges on roads
18 maintained by counties, municipalities, townships or road
19 districts for the following specific purposes:
20 (1) $1,310,000,000 for use statewide,
21 (2) $3,641,000 for use outside the Chicago
22 urbanized area,
23 (3) $7,543,000 for use within the Chicago urbanized
24 area,
25 (4) $13,060,600 for use within the City of Chicago,
26 (5) $57,894,500 for use within the counties of
27 Cook, DuPage, Kane, Lake, McHenry and Will, and
28 (6) $18,860,900 for use outside the counties of
29 Cook, DuPage, Kane, Lake, McHenry and Will.
30 (b) $883,270,000 $835,800,000 for mass transit
31 facilities, as defined in Section 49.19 of the Civil
32 Administrative Code of Illinois, including rapid transit,
33 rail, bus and other equipment used in connection therewith by
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1 the State or any unit of local government, special
2 transportation district, municipal corporation or other
3 corporation or public authority authorized to provide and
4 promote public transportation within the State or two or more
5 of the foregoing jointly, for the following specific
6 purposes:
7 (1) $787,470,000 $740,000,000 statewide,
8 (2) $83,350,000 for use within the counties of
9 Cook, DuPage, Kane, Lake, McHenry and Will,
10 (3) $12,450,000 for use outside the counties of
11 Cook, DuPage, Kane, Lake, McHenry and Will.
12 (c) $190,000,000 for airport or aviation facilities and
13 any equipment used in connection therewith, including
14 engineering and land acquisition costs, by the State or any
15 unit of local government, special transportation district,
16 municipal corporation or other corporation or public
17 authority authorized to provide public transportation within
18 the State, or two or more of the foregoing acting jointly.
19 (Source: P.A. 89-235, eff. 8-4-95; 90-1, eff. 2-20-97; 90-8,
20 eff. 12-8-97 (changed from 6-1-98 by P.A. 90-549).)
21 (30 ILCS 330/6) (from Ch. 127, par. 656)
22 Sec. 6. Anti-Pollution.
23 (a) The amount of $213,035,000 $189,300,000 is
24 authorized for allocation by the Environmental Protection
25 Agency for grants or loans to units of local government in
26 such amounts, at such times and for such purpose as the
27 Agency deems necessary or desirable for the planning,
28 financing, and construction of municipal sewage treatment
29 works and solid waste disposal facilities and for making of
30 deposits into the Water Revolving Fund and the U.S.
31 Environmental Protection Fund to provide assistance in
32 accordance with the provisions of Title IV-A of the
33 Environmental Protection Act.
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1 (b) The amount of $160,500,000 is authorized for
2 allocation by the Environmental Protection Agency for payment
3 of claims submitted to the State and approved for payment
4 under the Leaking Underground Storage Tank Program
5 established in Title XVI of the Environmental Protection Act.
6 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
7 eff. 12-8-97.)
8 (30 ILCS 330/12) (from Ch. 127, par. 662)
9 Sec. 12. Allocation of Proceeds from Sale of Bonds.
10 (a) Proceeds from the sale of Bonds, authorized by
11 Section 3 of this Act, shall be deposited in the separate
12 fund known as the Capital Development Fund.
13 (b) Proceeds from the sale of Bonds, authorized by
14 paragraph (a) of Section 4 of this Act, shall be deposited in
15 the separate fund known as the Transportation Bond, Series A
16 Fund.
17 (c) Proceeds from the sale of Bonds, authorized by
18 paragraphs (b) and (c) of Section 4 of this Act, shall be
19 deposited in the separate fund known as the Transportation
20 Bond, Series B Fund.
21 (d) Proceeds from the sale of Bonds, authorized by
22 Section 5 of this Act, shall be deposited in the separate
23 fund known as the School Construction Fund, except that
24 proceeds from the sale of the additional $1,100,000,000 of
25 bonds authorized in subsection (e) of Section 5 pursuant to
26 this amendatory Act of 1997 shall be deposited into the
27 School Infrastructure Fund.
28 (e) Proceeds from the sale of Bonds, authorized by
29 Section 6 of this Act, shall be deposited in the separate
30 fund known as the Anti-Pollution Fund.
31 (f) Proceeds from the sale of Bonds, authorized by
32 Section 7 of this Act, shall be deposited in the separate
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1 fund known as the Coal Development Fund.
2 (g) Proceeds from the sale of Bonds, authorized by
3 Section 8 of this Act, shall be deposited in the Capital
4 Development Fund.
5 (h) Subsequent to the issuance of any Bonds for the
6 purposes described in Sections 2 through 8 of this Act, the
7 Governor and the Director of the Bureau of the Budget may
8 provide for the reallocation of unspent proceeds of such
9 Bonds to any other purposes authorized under said Sections of
10 this Act, subject to the limitations on aggregate principal
11 amounts contained therein. Upon any such reallocation, such
12 unspent proceeds shall be transferred to the appropriate
13 funds as determined by reference to paragraphs (a) through
14 (g) of this Section.
15 (Source: P.A. 90-549, eff. 12-8-97.)
16 Section 99. Effective date. This Act takes effect
17 immediately upon becoming law.