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Public Act 92-0009
HB3489 Enrolled LRB9208381REdv
AN ACT concerning bonds.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Build Illinois Bond Act is amended by
changing Sections 2 and 4 as follows:
(30 ILCS 425/2) (from Ch. 127, par. 2802)
Sec. 2. Authorization for Bonds. The State of Illinois
is authorized to issue, sell and provide for the retirement
of limited obligation bonds, notes and other evidences of
indebtedness of the State of Illinois in the total principal
amount of $3,540,715,000 $2,851,970,000 herein called
"Bonds". Such authorized amount of Bonds shall be reduced
from time to time by amounts, if any, which are equal to the
moneys received by the Department of Revenue in any fiscal
year pursuant to Section 3-1001 of the "Illinois Vehicle
Code", as amended, in excess of the Annual Specified Amount
(as defined in Section 3 of the "Retailers' Occupation Tax
Act", as amended) and transferred at the end of such fiscal
year from the General Revenue Fund to the Build Illinois
Purposes Fund as provided in Section 3-1001 of said Code;
provided, however, that no such reduction shall affect the
validity or enforceability of any Bonds issued prior to such
reduction. Such amount of authorized Bonds shall be
exclusive of any refunding Bonds issued pursuant to Section
15 of this Act and exclusive of any Bonds issued pursuant to
this Section which are redeemed, purchased, advance refunded,
or defeased in accordance with paragraph (f) of Section 4 of
this Act. Bonds shall be issued for the categories and
specific purposes expressed in Section 4 of this Act.
(Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
91-709, eff. 5-17-00.)
(30 ILCS 425/4) (from Ch. 127, par. 2804)
Sec. 4. Purposes of Bonds. Bonds shall be issued for the
following purposes and in the approximate amounts as set
forth below:
(a) $2,399,954,000 $2,029,889,000 for the expenses of
issuance and sale of Bonds, including bond discounts, and for
planning, engineering, acquisition, construction,
reconstruction, development, improvement and extension of the
public infrastructure in the State of Illinois, including:
the making of loans or grants to local governments for waste
disposal systems, water and sewer line extensions and water
distribution and purification facilities, rail or air or
water port improvements, gas and electric utility extensions,
publicly owned industrial and commercial sites, buildings
used for public administration purposes and other public
infrastructure capital improvements; the making of loans or
grants to units of local government for financing and
construction of wastewater facilities; refinancing or
retiring bonds issued between January 1, 1987 and January 1,
1990 by home rule municipalities, debt service on which is
provided from a tax imposed by home rule municipalities prior
to January 1, 1990 on the sale of food and drugs pursuant to
Section 8-11-1 of the Home Rule Municipal Retailers'
Occupation Tax Act or Section 8-11-5 of the Home Rule
Municipal Service Occupation Tax Act; the making of deposits
not to exceed $70,000,000 in the aggregate into the Water
Pollution Control Revolving Fund to provide assistance in
accordance with the provisions of Title IV-A of the
Environmental Protection Act; the planning, engineering,
acquisition, construction, reconstruction, alteration,
expansion, extension and improvement of highways, bridges,
structures separating highways and railroads, rest areas,
interchanges, access roads to and from any State or local
highway and other transportation improvement projects which
are related to economic development activities; the making of
loans or grants for planning, engineering, rehabilitation,
improvement or construction of rail and transit facilities;
the planning, engineering, acquisition, construction,
reconstruction and improvement of watershed, drainage, flood
control, recreation and related improvements and facilities,
including expenses related to land and easement acquisition,
relocation, control structures, channel work and clearing and
appurtenant work; the making of grants for improvement and
development of zoos and park district field houses and
related structures; and the making of grants for improvement
and development of Navy Pier and related structures.
(b) $139,301,500 $114,301,500 for fostering economic
development and increased employment and the well being of
the citizens of Illinois, including: the making of grants for
improvement and development of McCormick Place and related
structures; the planning and construction of a
microelectronics research center, including the planning,
engineering, construction, improvement, renovation and
acquisition of buildings, equipment and related utility
support systems; the making of loans to businesses and
investments in small businesses; acquiring real properties
for industrial or commercial site development; acquiring,
rehabilitating and reconveying industrial and commercial
properties for the purpose of expanding employment and
encouraging private and other public sector investment in the
economy of Illinois; the payment of expenses associated with
siting the Superconducting Super Collider Particle
Accelerator in Illinois and with its acquisition,
construction, maintenance, operation, promotion and support;
the making of loans for the planning, engineering,
acquisition, construction, improvement and conversion of
facilities and equipment which will foster the use of
Illinois coal; the payment of expenses associated with the
promotion, establishment, acquisition and operation of small
business incubator facilities and agribusiness research
facilities, including the lease, purchase, renovation,
planning, engineering, construction and maintenance of
buildings, utility support systems and equipment designated
for such purposes and the establishment and maintenance of
centralized support services within such facilities; and the
making of grants or loans to units of local government for
Urban Development Action Grant and Housing Partnership
programs.
(c) $851,308,600 $559,128,600 for the development and
improvement of educational, scientific, technical and
vocational programs and facilities and the expansion of
health and human services for all citizens of Illinois,
including: the making of construction and improvement grants
and loans to public libraries and library systems; the making
of grants and loans for planning, engineering, acquisition
and construction of a new State central library in
Springfield; the planning, engineering, acquisition and
construction of an animal and dairy sciences facility; the
planning, engineering, acquisition and construction of a
campus and all related buildings, facilities, equipment and
materials for Richland Community College; the acquisition,
rehabilitation and installation of equipment and materials
for scientific and historical surveys; the making of grants
or loans for distribution to eligible vocational education
instructional programs for the upgrading of vocational
education programs, school shops and laboratories, including
the acquisition, rehabilitation and installation of technical
equipment and materials; the making of grants or loans for
distribution to eligible local educational agencies for the
upgrading of math and science instructional programs,
including the acquisition of instructional equipment and
materials; miscellaneous capital improvements for
universities and community colleges including the planning,
engineering, construction, reconstruction, remodeling,
improvement, repair and installation of capital facilities
and costs of planning, supplies, equipment, materials,
services, and all other required expenses; the making of
grants or loans for repair, renovation and miscellaneous
capital improvements for privately operated colleges and
universities and community colleges, including the planning,
engineering, acquisition, construction, reconstruction,
remodeling, improvement, repair and installation of capital
facilities and costs of planning, supplies, equipment,
materials, services, and all other required expenses; and the
making of grants or loans for distribution to local
governments for hospital and other health care facilities
including the planning, engineering, acquisition,
construction, reconstruction, remodeling, improvement, repair
and installation of capital facilities and costs of planning,
supplies, equipment, materials, services and all other
required expenses.
(d) $150,150,900 $148,650,900 for protection,
preservation, restoration and conservation of environmental
and natural resources, including: the making of grants to
soil and water conservation districts for the planning and
implementation of conservation practices and for funding
contracts with the Soil Conservation Service for watershed
planning; the making of grants to units of local government
for the capital development and improvement of recreation
areas, including planning and engineering costs, sewer
projects, including planning and engineering costs and water
projects, including planning and engineering costs, and for
the acquisition of open space lands, including the
acquisition of easements and other property interests of less
than fee simple ownership; the acquisition and related costs
and development and management of natural heritage lands,
including natural areas and areas providing habitat for
endangered species and nongame wildlife, and buffer area
lands; the acquisition and related costs and development and
management of habitat lands, including forest, wildlife
habitat and wetlands; and the removal and disposition of
hazardous substances, including the cost of project
management, equipment, laboratory analysis, and contractual
services necessary for preventative and corrective actions
related to the preservation, restoration and conservation of
the environment, including deposits not to exceed $60,000,000
in the aggregate into the Hazardous Waste Fund and the
Brownfields Redevelopment Fund for improvements in accordance
with the provisions of Titles V and XVII of the Environmental
Protection Act.
(e) The amount specified in paragraph (a) above shall
include an amount necessary to pay reasonable expenses of
each issuance and sale of the Bonds, as specified in the
related Bond Sale Order (hereinafter defined).
(f) Any unexpended proceeds from any sale of Bonds which
are held in the Build Illinois Bond Fund may be used to
redeem, purchase, advance refund, or defease any Bonds
outstanding.
(Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99;
91-709, eff. 5-17-00.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly May 31, 2001.
Approved June 11, 2001.
Effective June 11, 2001.
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