State of Illinois
92nd General Assembly

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 1        AN ACT regarding highways.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The Toll Highway Act is amended by changing
 5    Sections 14.1, 18, 23, and 24 as follows:

 6        (605 ILCS 10/14.1) (from Ch. 121, par. 100-14.1)
 7        Sec. 14.1.  The Authority shall, prior to the issuance of
 8    any bonds under this Act, except refunding bonds, prepare and
 9    submit to the Governor for  his  approval  preliminary  plans
10    showing  the  proposed location of the route or routes of the
11    particular toll highway for which the bonds are to be issued,
12    which plans shall designate  the  approximate  point  of  the
13    commencement  and the termination of said route or routes and
14    shall  also  designate  the  municipalities  to  be  afforded
15    reasonable connections therewith, and to be  served  thereby.
16    The  Authority  shall at the same time submit to the Governor
17    for his approval preliminary estimates of  the  cost  of  the
18    construction  of the  toll highway, shown on said preliminary
19    plans.  If the Governor shall approve the  preliminary  plans
20    and  the  estimate  of  the  cost  thereof, the Authority may
21    thereupon proceed with the issuance of bonds  as  hereinafter
22    provided.   Prior  to  the  issuance  of  bonds  for  or  the
23    commencement of construction of any new toll highway segment,
24    however, the issuance of bonds for  or  the  commencement  of
25    construction of that particular segment toll highway shall be
26    approved by law as provided in Section 23 authorized by joint
27    resolution of the General Assembly.
28    (Source: P.A. 86-1164.)

29        (605 ILCS 10/18) (from Ch. 121, par. 100-18)
30        Sec.  18.  The  sums of money appropriated by the General
                            -2-                LRB9215716DHmg
 1    Assembly (other than  sums  appropriated  from  the  Illinois
 2    State  Toll  Highway  Authority  Fund)  for  the  payment  of
 3    ordinary  and  contingent  expenses  of  the Authority or the
 4    payment of compensation  of  the  members  of  the  Authority
 5    expended  as a part of the cost of a toll highway financed by
 6    revenue bonds issued and sold by the Authority under this Act
 7    shall be repaid to the State Treasury out of the proceeds  of
 8    the  sale  of  such bonds, for deposit in the fund from which
 9    such sums were appropriated. Any such sums  remaining  unpaid
10    because   expended  for  preliminary  investigation  of  toll
11    highway  routes  not  constructed  shall  be  repaid  by  the
12    Authority out of the proceeds of the  sale  of  any  of  such
13    bonds   issued   to   finance  additional  toll  highways  or
14    extensions of existing toll highways. If no  such  new  bonds
15    are  issued,  and  the  money  appropriated  by  the  General
16    Assembly  has  not  otherwise  been  repaid in full, then the
17    Authority shall, after payment  of  all  existing  bonds  and
18    interest thereon, continue to collect tolls for the privilege
19    of  using  the  toll  highways  constructed  pursuant  to the
20    authority  of  "An  Act  in  relation  to  the  construction,
21    operation, regulation and maintenance of  a  system  of  toll
22    highways  and  to  create  The  Illinois  State  Toll Highway
23    Commission, and to define its powers and duties and to repeal
24    an Act therein named", approved July 13,  1953,  as  amended,
25    until  such  time  as  the  tolls collected are sufficient to
26    repay any such unpaid money. The tolls so collected shall  be
27    paid  by  the  Authority to the State treasury for deposit in
28    the fund from which such sums were appropriated.
29    (Source: Laws 1968, p. 199.)

30        (605 ILCS 10/23) (from Ch. 121, par. 100-23)
31        Sec. 23. The Authority shall file with the Governor,  the
32    Clerk  of  the House of Representatives, the Secretary of the
33    Senate, and the Illinois Economic and Fiscal  Commission,  on
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 1    or  prior to March 15th of each year, a written statement and
 2    report covering its activities  for  the  preceding  calendar
 3    year.   The Authority shall present, to the committees of the
 4    House of Representatives designated by  the  Speaker  of  the
 5    House  and  to the committees of the Senate designated by the
 6    President of the  Senate,  an  annual  report  outlining  its
 7    planned  revenues  and  expenditures,  including  any plan to
 8    institute  a  general  increase  in  toll  rates.  Prior   to
 9    instituting any general increase in toll rates, the Authority
10    shall  obtain  the  approval  of  the General Assembly by law
11    approved by the vote of three-fifths of the  members  elected
12    to each house.  The Authority shall prepare an annual capital
13    plan  which  identifies  capital  projects  by  location  and
14    details  the  project  costs  in correct dollar amounts.  The
15    Authority may issue bonds to implement its capital plan  only
16    in  amounts  and for purposes that have been approved by law.
17    The Authority shall also prepare and file a ten-year  capital
18    plan  that  includes  a  listing  of  all capital improvement
19    projects contemplated during  the  ensuing  ten-year  period.
20    The  first  ten-year  capital plan shall be filed in 1991 and
21    thereafter on the anniversary of each ten-year period.
22        It shall also be the duty of the Auditor General  of  the
23    State  of  Illinois, annually to audit or cause to be audited
24    the books  and  records  of  the  Authority  and  to  file  a
25    certified  copy of the report of such audit with the Governor
26    and  with  the  Legislative  Audit  Commission,  which  audit
27    reports, when so filed, shall  be  open  to  the  public  for
28    inspection.
29    (Source: P.A. 91-256, eff. 1-1-00.)

30        (605 ILCS 10/24) (from Ch. 121, par. 100-24)
31        Sec.  24.   Except  as  otherwise  provided  in  any bond
32    resolution, the proceeds derived from the sale of bonds,  and
33    all  receipts and income derived from tolls, licenses, gifts,
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 1    donations, concessions, fees, rentals, and all other revenues
 2    from whatever source derived,  shall,  within  3  three  days
 3    after  receipt thereof, be paid to the Treasurer of the State
 4    of Illinois, and held by him as a special fund known  as  the
 5    Illinois  State  Toll Highway Authority Fund, except that the
 6    Authority may retain  portions of  the  Illinois  State  Toll
 7    Highway  Authority  Fund as a locally maintained construction
 8    fund revolving  account  and  as  a  revenue  fund  revolving
 9    account,  where  authorized  by  a  bond  resolution,  and as
10    locally maintained change  funds,  where  necessary  for  the
11    operations  of the Authority. The State Treasurer shall be ex
12    officio custodian of such special fund, which fund  shall  be
13    held, invested and disbursed for the purposes provided herein
14    upon  the  order  of  the  Authority  and  in accordance with
15    provisions and covenants of any bond  resolution  authorizing
16    the  issuance  of  bonds  which  have not been paid or deemed
17    paid.  The interest accruing on said special  fund  shall  be
18    computed and added to the principal thereof every six months.
19    In addition to the special audits prescribed by this Act, the
20    said  fund  shall also be subject to audit in the same manner
21    as is now, or may hereinafter be, provided for the  audit  of
22    State  funds  and  accounts.  The  said special fund shall be
23    protected  by  a  corporate  surety  bond,  executed  by  the
24    Treasurer, with a surety authorized to do business under  the
25    laws  of the State of Illinois. The amount of said bond shall
26    be fixed by resolution of  the  Authority,  approved  by  the
27    Governor, and may be increased or diminished at any time. The
28    premiums  on said bond shall be payable from the funds of the
29    Authority. The bond shall be subject to the approval  of  the
30    Governor  and Attorney General of the State of Illinois, and,
31    when so approved,  shall  be  filed  in  the  office  of  the
32    Secretary  of State. This Act shall constitute an irrevocable
33    and  continuing  appropriation  from  the  special  fund  for
34    amounts to pay principal, interest, and other  bond  expenses
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 1    and  obligations as provided in this Act.  All other expenses
 2    of the  Authority,  including  the  ordinary  and  contingent
 3    expenses  for  the Authority's annual operations, are subject
 4    to annual appropriation by  the  General  Assembly  from  the
 5    special  fund (or from other funds as provided in Section 18)
 6    for each fiscal year. Said special fund shall  be  considered
 7    always  appropriated  for  the  purposes of disbursements, as
 8    provided in this Act, and shall be  paid  out  and  disbursed
 9    only  as  provided  herein,  and  shall  not,  at any time be
10    appropriated or diverted to any other use or  purpose.    For
11    all  outstanding  bonds  issued  by  the Authority before the
12    effective date of this amendatory Act  of  the  92nd  General
13    Assembly,  the  State  guarantees  the  timely payment of any
14    principal or interest that is not paid by the Authority  when
15    due,  with  recourse  to  the Court of Claims.  The Authority
16    shall, with respect to all revenue bonds  outstanding  as  of
17    the effective date of this amendatory Act of the 92nd General
18    Assembly,  maintain in a debt service fund an amount equal to
19    140% of the amount needed to pay annual debt service pursuant
20    to the bonds.
21    (Source: P.A. 83-1258.)

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