August 23, 2018
To the Honorable Members of
The Illinois Senate,
100th General Assembly:
Today I veto Senate Bill 2589 from the 100th General Assembly, which allows a $13 million local bond issuance by Midlothian Park District to be exempt from the restrictions of statutory debt limitations.
The purpose of a debt limitation is to restrict local governments from the type of debt-dependent spending that hides the impact of their spending, forces up property taxes over time, and pushes the local government towards financial distress in the long run. We should be very wary of exempting multimillion dollar projects from these limitations as exceptions will continue to erode the very purpose of the borrowing restriction.
Therefore, pursuant to Section 9(b) of Article IV of the Illinois Constitution of 1970, I hereby return Senate Bill 2589, entitled “AN ACT concerning local government,” with the foregoing objections, vetoed in its entirety.