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Public Act 92-0013
HB2125 Enrolled LRB9203486MWpk
AN ACT concerning general obligation bonds.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The General Obligation Bond Act is amended by
changing Sections 1, 2, 3, 4, 6, and 7 as follows:
(30 ILCS 330/1) (from Ch. 127, par. 651)
Sec. 1. Short Title. This Act shall be known and may be
cited as the "General Obligation Bond Act".
(Source: P.A. 83-1490.)
(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 for the
categories and specific purposes expressed in Sections 2
through 8 of this Act, in the total amount of $15,265,007,500
$14,197,632,592.
The bonds authorized in this Section 2 and in Section 16
of this Act are herein called "Bonds".
Of the total amount of Bonds authorized in this Act, 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 in this Act, 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.
(Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99;
91-53, eff 6-30-99; 91-710, eff. 5-17-00.)
(30 ILCS 330/3) (from Ch. 127, par. 653)
Sec. 3. Capital Facilities. The amount of $6,626,093,492
$6,078,847,592 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) $1,880,077,346 $1,710,255,446 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) $1,584,450,168 $1,542,970,160 for correctional
purposes at State prison and correctional centers;
(c) $496,685,786 $470,941,786 for open spaces,
recreational and conservation purposes and the protection
of land;
(d) $556,926,486 $536,280,486 for child care
facilities, mental and public health facilities, and
facilities for the care of disabled veterans and their
spouses;
(e) $1,290,153,341 $1,129,599,341 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) $198,657,796 $186,657,796 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) $36,000,000 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;
(l) $367,584,200 $337,584,200 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; and
(m) $167,800,000 $80,800,000 for the Illinois Open
Land Trust Program as defined by the Illinois Open Land
Trust Act.
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, eff. 12-8-97; 90-549,
eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, 6-15-99; 91-53,
eff. 6-30-99; 91-710, eff. 5-17-00.)
(30 ILCS 330/4) (from Ch. 127, par. 654)
Sec. 4. Transportation. The amount of $5,313,399,000
$5,312,270,000 is authorized for use by the Department of
Transportation for the specific purpose of promoting and
assuring rapid, efficient, and safe highway, air and mass
transportation for the inhabitants of the State by providing
monies, including the making of grants and loans, for the
acquisition, construction, reconstruction, extension and
improvement of the following transportation facilities and
equipment, and for the acquisition of real property and
interests in real property required or expected to be
required in connection therewith as follows:
(a) $3,432,129,000 $3,431,000,000 for State highways,
arterial highways, freeways, roads, bridges, structures
separating highways and railroads and roads, and bridges on
roads maintained by counties, municipalities, townships or
road districts for the following specific purposes:
(1) $3,330,000,000 for use statewide,
(2) $3,677,000 $3,641,000 for use outside the
Chicago urbanized area,
(3) $7,543,000 for use within the Chicago urbanized
area,
(4) $13,060,600 for use within the City of Chicago,
(5) $58,987,500 $57,894,500 for use within the
counties of Cook, DuPage, Kane, Lake, McHenry and Will,
and
(6) $18,860,900 for use outside the counties of
Cook, DuPage, Kane, Lake, McHenry and Will.
(b) $1,529,670,000 for rail facilities and for mass
transit facilities, as defined in Section 2705-305 of the
Department of Transportation Law (20 ILCS 2705/2705-305),
including rapid transit, rail, bus and other equipment used
in connection therewith by the State or any unit of local
government, special transportation district, municipal
corporation or other corporation or public authority
authorized to provide and promote public transportation
within the State or two or more of the foregoing jointly, for
the following specific purposes:
(1) $1,433,870,000 statewide,
(2) $83,350,000 for use within the counties of
Cook, DuPage, Kane, Lake, McHenry and Will,
(3) $12,450,000 for use outside the counties of
Cook, DuPage, Kane, Lake, McHenry and Will.
(c) $351,600,000 for airport or aviation facilities and
any equipment used in connection therewith, including
engineering and land acquisition costs, by the State or any
unit of local government, special transportation district,
municipal corporation or other corporation or public
authority authorized to provide public transportation within
the State, or two or more of the foregoing acting jointly,
and for the making of deposits into the Airport Land Loan
Revolving Fund for loans to public airport owners pursuant to
the Illinois Aeronautics Act.
(Source: P.A. 90-8, eff. 12-8-97 (changed from 6-1-98 by P.A.
90-549); 90-586, eff. 6-4-98; 91-39, eff. 6-15-99; 91-239,
eff. 1-1-00; 91-712, eff. 7-1-00.)
(30 ILCS 330/6) (from Ch. 127, par. 656)
Sec. 6. Anti-Pollution.
(a) The amount of $281,815,000 $262,815,000 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 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, eff. 12-8-97; 90-549,
eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99;
91-710, eff. 5-17-00.)
(30 ILCS 330/7) (from Ch. 127, par. 657)
Sec. 7. Coal and Energy Development. The amount of
$663,200,000 $163,200,000 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, and for the purposes
specified in Section 605-332 of the Department of Commerce
and Community Affairs of the Civil Administrative Code of
Illinois. Of this amount:
(a) $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;,
(b) $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
(c) $13,200,000 is for research, development and
demonstration of forms of energy other than that derived from
coal, either on or off State property; and
(d) $500,000,000 is for the purpose of providing
financial assistance to new electric generating facilities as
provided in Section 605-332 of the Department of Commerce and
Community Affairs Law of the Civil Administrative Code of
Illinois.
(Source: P.A. 89-445, eff. 2-7-96; 90-312, eff. 8-1-97;
90-549, eff. 12-8-97.)
Section 99. Effective date. This Act takes effect upon
becoming law.
Passed in the General Assembly May 31, 2001.
Approved June 22, 2001.
Effective June 22, 2001.
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