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1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Regional Transportation Authority Act is
5amended by changing Sections 3A.09 and 3B.09 as follows:
 
6    (70 ILCS 3615/3A.09)  (from Ch. 111 2/3, par. 703A.09)
7    Sec. 3A.09. General Powers. In addition to any powers
8elsewhere provided to the Suburban Bus Board, it shall have all
9of the powers specified in Section 2.20 of this Act except for
10the powers specified in Section 2.20(a)(v). The Board shall
11also have the power:
12        (a) to cooperate with the Regional Transportation
13    Authority in the exercise by the Regional Transportation
14    Authority of all the powers granted it by such Act;
15        (b) to receive funds from the Regional Transportation
16    Authority pursuant to Sections 2.02, 4.01, 4.02, 4.09 and
17    4.10 of the Regional Transportation Authority Act, all as
18    provided in the Regional Transportation Authority Act;
19        (c) to receive financial grants from the Regional
20    Transportation Authority or a Service Board, as defined in
21    the Regional Transportation Authority Act, upon such terms
22    and conditions as shall be set forth in a grant contract
23    between either the Division and the Regional

 

 

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1    Transportation Authority or the Division and another
2    Service Board, which contract or agreement may be for such
3    number of years or duration as the parties agree, all as
4    provided in the Regional Transportation Authority Act;
5        (d) to perform all functions necessary for the
6    provision of paratransit services under Section 2.30 of
7    this Act; and
8        (e) to borrow money for the purposes of: (i)
9    constructing a new garage in the northwestern Cook County
10    suburbs at an estimated cost of $60,000,000, (ii)
11    converting the South Cook garage in Markham to a Compressed
12    Natural Gas facility at an estimated cost of $12,000,000,
13    (iii) constructing a new paratransit garage in DuPage
14    County at an estimated cost of $25,000,000, and (iv)
15    expanding the North Shore garage in Evanston to accommodate
16    additional indoor bus parking at an estimated cost of
17    $3,000,000. For the purpose of evidencing the obligation of
18    the Suburban Bus Board to repay any money borrowed as
19    provided in this subsection, the Suburban Bus Board may
20    issue revenue bonds from time to time pursuant to ordinance
21    adopted by the Suburban Bus Board, subject to the approval
22    of the Regional Transportation Authority of each such
23    issuance by the affirmative vote of 12 of its then
24    Directors; provided that the Suburban Bus Board may not
25    issue bonds for the purpose of financing the acquisition,
26    construction, or improvement of any facility other than

 

 

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1    those listed in this subsection (e). All such bonds shall
2    be payable solely from the revenues or income or any other
3    funds that the Suburban Bus Board may receive, provided
4    that the Suburban Bus Board may not pledge as security for
5    such bonds the moneys, if any, that the Suburban Bus Board
6    receives from the Regional Transportation Authority
7    pursuant to Section 4.03.3(f) of the Regional
8    Transportation Authority Act. The bonds shall bear
9    interest at a rate not to exceed the maximum rate
10    authorized by the Bond Authorization Act and shall mature
11    at such time or times not exceeding 25 years from their
12    respective dates. Bonds issued pursuant to this paragraph
13    must be issued with scheduled principal or mandatory
14    redemption payments in equal amounts in each fiscal year
15    over the term of the bonds, with the first principal or
16    mandatory redemption payment scheduled within the fiscal
17    year in which bonds are issued or within the next
18    succeeding fiscal year. At least 25%, based on total
19    principal amount, of all bonds authorized pursuant to this
20    Section shall be sold pursuant to notice of sale and public
21    bid. No more than 75%, based on total principal amount, of
22    all bonds authorized pursuant to this Section shall be sold
23    by negotiated sale. The maximum principal amount of the
24    bonds that may be issued may not exceed $100,000,000. The
25    bonds shall have all the qualities of negotiable
26    instruments under the laws of this State. To secure the

 

 

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1    payment of any or all of such bonds and for the purpose of
2    setting forth the covenants and undertakings of the
3    Suburban Bus Board in connection with the issuance thereof
4    and the issuance of any additional bonds payable from such
5    revenue or income as well as the use and application of the
6    revenue or income received by the Suburban Bus Board, the
7    Suburban Bus Board may execute and deliver a trust
8    agreement or agreements; provided that no lien upon any
9    physical property of the Suburban Bus Board shall be
10    created thereby. A remedy for any breach or default of the
11    terms of any such trust agreement by the Suburban Bus Board
12    may be by mandamus proceedings in any court of competent
13    jurisdiction to compel performance and compliance
14    therewith, but the trust agreement may prescribe by whom or
15    on whose behalf such action may be instituted. Under no
16    circumstances shall any bonds issued by the Suburban Bus
17    Board or any other obligation of the Suburban Bus Board in
18    connection with the issuance of such bonds be or become an
19    indebtedness or obligation of the State of Illinois, the
20    Regional Transportation Authority, or any other political
21    subdivision of or municipality within the State, nor shall
22    any such bonds or obligations be or become an indebtedness
23    of the Suburban Bus Board within the purview of any
24    constitutional limitation or provision, and it shall be
25    plainly stated on the face of each bond that it does not
26    constitute such an indebtedness or obligation but is

 

 

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1    payable solely from the revenues or income as aforesaid.
2        (f) for the sole purposes of protecting, managing, and
3    insuring against the risk associated with volatile fuel
4    prices, enter into any option contract, forward contract,
5    futures contract, swap, cap, or collar agreements with
6    price floors or ceilings, or both, for fuel risk
7    management, but only to the extent determined by the Board
8    of Directors of the Regional Transportation Authority or
9    the Suburban Bus Board to be in the best interests of the
10    Authority or the Suburban Bus Board.
11(Source: P.A. 97-770, eff. 1-1-13.)
 
12    (70 ILCS 3615/3B.09)  (from Ch. 111 2/3, par. 703B.09)
13    Sec. 3B.09. General Powers. In addition to any powers
14elsewhere provided to the Commuter Rail Board, it shall have
15all of the powers specified in Section 2.20 of this Act except
16for the powers specified in Section 2.20(a)(v). The Board shall
17also have the power:
18    (a) to cooperate with the Regional Transportation
19Authority in the exercise by the Regional Transportation
20Authority of all the powers granted it by such Act;
21    (b) to receive funds from the Regional Transportation
22Authority pursuant to Sections 2.02, 4.01, 4.02, 4.09 and 4.10
23of the "Regional Transportation Authority Act", all as provided
24in the "Regional Transportation Authority Act";
25    (c) to receive financial grants from the Regional

 

 

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1Transportation Authority or a Service Board, as defined in the
2"Regional Transportation Authority Act", upon such terms and
3conditions as shall be set forth in a grant contract between
4either the Division and the Regional Transportation Authority
5or the Division and another Service Board, which contract or
6agreement may be for such number of years or duration as the
7parties may agree, all as provided in the "Regional
8Transportation Authority Act"; and
9    (d) to borrow money for the purpose of acquiring,
10constructing, reconstructing, extending, or improving any
11Public Transportation Facilities (as defined in Section 1.03 of
12the Regional Transportation Authority Act) operated by or to be
13operated by or on behalf of the Commuter Rail Division. For the
14purpose of evidencing the obligation of the Commuter Rail Board
15to repay any money borrowed as provided in this subsection, the
16Commuter Rail Board may issue revenue bonds from time to time
17pursuant to ordinance adopted by the Commuter Rail Board,
18subject to the approval of the Regional Transportation
19Authority of each such issuance by the affirmative vote of 12
20of its then Directors; provided that the Commuter Rail Board
21may not issue bonds for the purpose of financing the
22acquisition, construction, or improvement of a corporate
23headquarters building. All such bonds shall be payable solely
24from the revenues or income or any other funds that the
25Commuter Rail Board may receive, provided that the Commuter
26Rail Board may not pledge as security for such bonds the

 

 

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1moneys, if any, that the Commuter Rail Board receives from the
2Regional Transportation Authority pursuant to Section
34.03.3(f) of the Regional Transportation Authority Act. The
4bonds shall bear interest at a rate not to exceed the maximum
5rate authorized by the Bond Authorization Act and shall mature
6at such time or times not exceeding 25 years from their
7respective dates. Bonds issued pursuant to this paragraph must
8be issued with scheduled principal or mandatory redemption
9payments in equal amounts in each fiscal year over the term of
10the bonds, with the first principal or mandatory redemption
11payment scheduled within the fiscal year in which bonds are
12issued or within the next succeeding fiscal year. At least 25%,
13based on total principal amount, of all bonds authorized
14pursuant to this Section shall be sold pursuant to notice of
15sale and public bid. No more than 75%, based on total principal
16amount, of all bonds authorized pursuant to this Section shall
17be sold by negotiated sale. The maximum principal amount of the
18bonds that may be issued and outstanding at any time may not
19exceed $1,000,000,000. The bonds shall have all the qualities
20of negotiable instruments under the laws of this State. To
21secure the payment of any or all of such bonds and for the
22purpose of setting forth the covenants and undertakings of the
23Commuter Rail Board in connection with the issuance thereof and
24the issuance of any additional bonds payable from such revenue
25or income as well as the use and application of the revenue or
26income received by the Commuter Rail Board, the Commuter Rail

 

 

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1Board may execute and deliver a trust agreement or agreements;
2provided that no lien upon any physical property of the
3Commuter Rail Board shall be created thereby. A remedy for any
4breach or default of the terms of any such trust agreement by
5the Commuter Rail Board may be by mandamus proceedings in any
6court of competent jurisdiction to compel performance and
7compliance therewith, but the trust agreement may prescribe by
8whom or on whose behalf such action may be instituted. Under no
9circumstances shall any bonds issued by the Commuter Rail Board
10or any other obligation of the Commuter Rail Board in
11connection with the issuance of such bonds be or become an
12indebtedness or obligation of the State of Illinois, the
13Regional Transportation Authority, or any other political
14subdivision of or municipality within the State, nor shall any
15such bonds or obligations be or become an indebtedness of the
16Commuter Rail Board within the purview of any constitutional
17limitation or provision, and it shall be plainly stated on the
18face of each bond that it does not constitute such an
19indebtedness or obligation but is payable solely from the
20revenues or income as aforesaid.
21    (e) for the sole purposes of protecting, managing, and
22insuring against the risk associated with volatile fuel prices,
23enter into any option contract, forward contract, futures
24contract, swap, cap, or collar agreements with price floors or
25ceilings, or both, for fuel risk management, but only to the
26extent determined by the Board of Directors of the Regional

 

 

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1Transportation Authority or the Commuter Rail Board to be in
2the best interests of the Authority or the Commuter Rail Board.
3(Source: P.A. 95-708, eff. 1-18-08.)
 
4    Section 99. Effective date. This Act takes effect upon
5becoming law.