Public Act 90-0549 of the 90th General Assembly
Public Act 90-0549
HB0108 Enrolled LRB9000980WHmg
AN ACT in relation to bonds.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. Public Act 90-8 (House Bill 1171 of the 90th
General Assembly) is amended by adding Section 99 as follows:
(P.A. 90-8, Sec. 99 new)
Sec. 99. Effective date. This Act (Public Act 90-8)
takes effect upon the effective date of this amendatory Act
of 1997 (House Bill 108 of the Ninetieth General Assembly).
Section 10. The General Obligation Bond Act is amended
by changing Sections 2, 3, 5, 6, 7, and 12 as follows:
(30 ILCS 330/2) (from Ch. 127, par. 652)
Sec. 2. Authorization for Bonds. The State of Illinois
is authorized to issue, sell and provide for the retirement
of General Obligation Bonds of the State of Illinois in the
total amount of $10,334,908,392 $8,972,708,392 herein called
"Bonds".
Of the total amount of bonds authorized above, up to
$2,200,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Baccalaureate Savings
Act in the form of General Obligation College Savings Bonds.
Of the total amount of bonds authorized above, up to
$300,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Retirement Savings Act
in the form of General Obligation Retirement Savings Bonds.
The issuance and sale of Bonds pursuant to the General
Obligation Bond Act is an economical and efficient method of
financing the capital needs of the State. This Act will
permit the issuance of a multi-purpose General Obligation
Bond with uniform terms and features. This will not only
lower the cost of registration but also reduce the overall
cost of issuing debt by improving the marketability of
Illinois General Obligation Bonds.
Bonds shall be issued for the categories and specific
purposes expressed in Sections 2 through 8 and Section 16 of
this Act.
(Source: P.A. 90-1, eff. 2-20-97; 90-8.)
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital Facilities. The amount of $3,846,083,392
$3,587,083,392 is authorized to be used for the acquisition,
development, construction, reconstruction, improvement,
financing, architectural planning and installation of capital
facilities within the State, consisting of buildings,
structures, durable equipment, land, and interests in land
for the following specific purposes:
(a) $1,032,672,246 $905,272,246 for educational purposes
by State universities and colleges, the Illinois Community
College Board created by the Public Community College Act and
for grants to public community colleges as authorized by
Sections 5-11 and 5-12 of the Public Community College Act;
(b) $1,027,213,368 $931,313,368 for correctional
purposes at State prison and correctional centers;
(c) $298,682,486 $292,132,486 for open spaces,
recreational and conservation purposes and the protection of
land;
(d) $451,215,486 $439,165,486 for child care facilities,
mental and public health facilities, and facilities for the
care of disabled veterans and their spouses;
(e) $809,568,641 $792,468,641 for use by the State, its
departments, authorities, public corporations, commissions
and agencies;
(f) $818,100 for cargo handling facilities at port
districts and for breakwaters, including harbor entrances, at
port districts in conjunction with facilities for small boats
and pleasure crafts;
(g) $137,672,796 for water resource management projects;
(h) $16,940,269 for the provision of facilities for food
production research and related instructional and public
service activities at the State universities and public
community colleges;
(i) $34,000,000 for grants by the Secretary of State, as
State Librarian, for central library facilities authorized by
Section 8 of the Illinois Library System Act and for grants
by the Capital Development Board to units of local government
for public library facilities;
(j) $25,000,000 for the acquisition, development,
construction, reconstruction, improvement, financing,
architectural planning and installation of capital facilities
consisting of buildings, structures, durable equipment and
land for grants to counties, municipalities or public
building commissions with correctional facilities that do not
comply with the minimum standards of the Department of
Corrections under Section 3-15-2 of the Unified Code of
Corrections;
(k) $5,000,000 for grants in fiscal year 1988 by the
Department of Conservation for improvement or expansion of
aquarium facilities located on property owned by a park
district; and
(l) $7,300,000 to State agencies for grants to local
governments for the acquisition, financing, architectural
planning, development, alteration, installation, and
construction of capital facilities consisting of buildings,
structures, durable equipment, and land.
The amounts authorized above for capital facilities may
be used for the acquisition, installation, alteration,
construction, or reconstruction of capital facilities and for
the purchase of equipment for the purpose of major capital
improvements which will reduce energy consumption in State
buildings or facilities.
(Source: P.A. 90-1, eff. 2-20-97; 90-8.)
(30 ILCS 330/5) (from Ch. 127, par. 655)
Sec. 5. School Construction. (a) The amount of
$58,450,000 is authorized to make grants to local school
districts for the acquisition, development, construction,
reconstruction, rehabilitation, improvement, financing,
architectural planning and installation of capital
facilities, including but not limited to those required for
special education building projects provided for in Article
14 of The School Code, consisting of buildings, structures,
and durable equipment, and for the acquisition and
improvement of real property and interests in real property
required, or expected to be required, in connection
therewith.
(b) $22,550,000, or so much thereof as may be necessary,
for grants to school districts for the making of principal
and interest payments, required to be made, on bonds issued
by such school districts after January 1, 1969, pursuant to
any indenture, ordinance, resolution, agreement or contract
to provide funds for the acquisition, development,
construction, reconstruction, rehabilitation, improvement,
architectural planning and installation of capital facilities
consisting of buildings, structures, durable equipment and
land for educational purposes or for lease payments required
to be made by a school district for principal and interest
payments on bonds issued by a Public Building Commission
after January 1, 1969.
(c) $10,000,000 for grants to school districts for the
acquisition, development, construction, reconstruction,
rehabilitation, improvement, architectural planning and
installation of capital facilities consisting of buildings
structures, durable equipment and land for special education
building projects.
(d) $9,000,000 for grants to school districts for the
reconstruction, rehabilitation, improvement, financing and
architectural planning of capital facilities, including
construction at another location to replace such capital
facilities, consisting of those public school buildings and
temporary school facilities which, prior to January 1, 1984,
were condemned by the regional superintendent under Section
3-14.22 of The School Code or by any State official having
jurisdiction over building safety.
(e) $1,100,000,000 for grants to school districts for
school improvement projects authorized by the School
Construction Law. The bonds shall be sold in amounts not to
exceed the following schedule, except any bonds not sold
during one year shall be added to the bonds to be sold during
the remainder of the schedule:
First year...................................$200,000,000
Second year..................................$250,000,000
Third year...................................$250,000,000
Fourth year..................................$200,000,000
Fifth year...................................$200,000,000
(Source: P.A. 84-1227.)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $189,300,000 is authorized for
allocation by the Environmental Protection Agency for grants
or loans to units of local government in such amounts, at
such times and for such purpose as the Agency deems necessary
or desirable for the planning, financing, and construction of
municipal sewage treatment works and solid waste disposal
facilities and for making of deposits into the Water
Pollution Control Revolving Fund and the U.S. Environmental
Protection Fund to provide assistance in accordance with the
provisions of Title IV-A of the Environmental Protection Act.
(b) The amount of $160,500,000 is authorized for
allocation by the Environmental Protection Agency for payment
of claims submitted to the State and approved for payment
under the Leaking Underground Storage Tank Program
established in Title XVI of the Environmental Protection Act.
(Source: P.A. 90-1, eff. 2-20-97; 90-8)
(30 ILCS 330/7) (from Ch. 127, par. 657)
Sec. 7. Coal and Energy Development. The amount of
$163,200,000 $160,000,000 is authorized to be used by the
Department of Commerce and Community Affairs for coal and
energy development purposes, pursuant to Sections 2, 3 and
3.1 of the Illinois Coal and Energy Development Bond Act, and
for the purposes specified in Section 8.1 of the Energy
Conservation and Coal Development Act. Of this amount
$115,000,000 is for the specific purposes of acquisition,
development, construction, reconstruction, improvement,
financing, architectural and technical planning and
installation of capital facilities consisting of buildings,
structures, durable equipment, and land for the purpose of
capital development of coal resources within the State and
for the purposes specified in Section 8.1 of the Energy
Conservation and Coal Development Act, $35,000,000 is for the
purposes specified in Section 8.1 of the Energy Conservation
and Coal Development Act and making a grant to the owner of a
generating station located in Illinois and having at least
three coal-fired generating units with accredited summer
capability greater than 500 megawatts each at such generating
station as provided in Section 6 of that Bond Act and
$13,200,000 $10,000,000 is for research, development and
demonstration of forms of energy other than that derived from
coal, either on or off State property.
(Source: P.A. 89-445, eff. 2-7-96; 90-312, eff. 8-1-97.)
(30 ILCS 330/12) (from Ch. 127, par. 662)
Sec. 12. Allocation of Proceeds from Sale of Bonds. (a)
Proceeds from the sale of Bonds, authorized by Section 3 of
this Act, shall be deposited in the separate fund known as
the Capital Development Fund.
(b) Proceeds from the sale of Bonds, authorized by
paragraph (a) of Section 4 of this Act, shall be deposited in
the separate fund known as the Transportation Bond, Series A
Fund.
(c) Proceeds from the sale of Bonds, authorized by
paragraphs (b) and (c) of Section 4 of this Act, shall be
deposited in the separate fund known as the Transportation
Bond, Series B Fund.
(d) Proceeds from the sale of Bonds, authorized by
Section 5 of this Act, shall be deposited in the separate
fund known as the School Construction Fund, except that
proceeds from the sale of the additional $1,100,000,000 of
bonds authorized in subsection (e) of Section 5 pursuant to
this amendatory Act of 1997 shall be deposited into the
School Infrastructure Fund.
(e) Proceeds from the sale of Bonds, authorized by
Section 6 of this Act, shall be deposited in the separate
fund known as the Anti-Pollution Fund.
(f) Proceeds from the sale of Bonds, authorized by
Section 7 of this Act, shall be deposited in the separate
fund known as the Coal Development Fund.
(g) Proceeds from the sale of Bonds, authorized by
Section 8 of this Act, shall be deposited in the Capital
Development Fund.
(h) Subsequent to the issuance of any Bonds for the
purposes described in Sections 2 through 8 of this Act, the
Governor and the Director of the Bureau of the Budget may
provide for the reallocation of unspent proceeds of such
Bonds to any other purposes authorized under said Sections of
this Act, subject to the limitations on aggregate principal
amounts contained therein. Upon any such reallocation, such
unspent proceeds shall be transferred to the appropriate
funds as determined by reference to paragraphs (a) through
(g) of this Section.
(Source: P.A. 86-453; 86-1017.)
Section 99. Effective date. This Act takes effect upon
becoming law.