093_SB0320enr

 
SB320 Enrolled                       LRB093 03995 EFG 04034 b

 1        AN  ACT in relation to the Metropolitan Water Reclamation
 2    District.

 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:

 5        Section  5.   The Metropolitan Water Reclamation District
 6    Act is amended by changing Section 9.6a as follows:

 7        (70 ILCS 2605/9.6a) (from Ch. 42, par. 328.6a)
 8        Sec.  9.6a.  The  corporate  authorities  of  a  sanitary
 9    district,  in  order  to  provide  funds  required  for   the
10    replacing, remodeling, completing, altering, constructing and
11    enlarging   of   sewage  treatment  works  or  flood  control
12    facilities,  and  additions   therefor,   pumping   stations,
13    tunnels,  conduits,  intercepting  sewers  and outlet sewers,
14    together  with  the  equipment,   including   air   pollution
15    equipment,  and  appurtenances  thereto, to acquire property,
16    real, personal or mixed, necessary  for  said  purposes,  for
17    costs  and  expenses  for  the  acquisition  of the sites and
18    rights-of-way necessary thereto, and for engineering expenses
19    for designing and supervising the construction of such works,
20    may issue on or before December 31, 2016, in addition to  all
21    other  obligations  heretofore  or  herein authorized, bonds,
22    notes or other evidences of indebtedness for such purposes in
23    an aggregate amount at any one time outstanding not to exceed
24    3.35% of the equalized  assessed  valuation  of  all  taxable
25    property  within  the sanitary district, to be ascertained by
26    the last assessment for State and local taxes previous to the
27    issuance of any such obligations.  Such obligations shall  be
28    issued  without  submitting  the question of such issuance to
29    the legal voters of such sanitary district for approval.
30        The corporate authorities may sell  such  obligations  at
31    private  or  public  sale  and  enter  into  any  contract or
 
SB320 Enrolled              -2-      LRB093 03995 EFG 04034 b
 1    agreement  necessary,  appropriate  or  incidental   to   the
 2    exercise  of  the  powers  granted  by  this  Act, including,
 3    without limitation, contracts or agreements for the sale  and
 4    purchase  of  such  obligations  and the payment of costs and
 5    expenses incident thereto.  The corporate authorities may pay
 6    such costs and expenses,  in  whole  or  in  part,  from  the
 7    corporate fund.
 8        Such  obligations  shall be issued from time to time only
 9    in amounts as may be  required  for  such  purposes  but  the
10    amount  of such obligations issued during any one budget year
11    shall not exceed $150,000,000 $100,000,000 plus the amount of
12    any obligations authorized by this Act to  be  issued  during
13    the  3  budget  years next preceding the year of issuance but
14    which  were  not  issued,  provided,   however,   that   this
15    limitation  shall  not  be  applicable  to  the  issuance  of
16    obligations  to  refund  bonds,  notes  or other evidences of
17    indebtedness, nor to obligations issued to  provide  for  the
18    repayment  of money received from the Water Pollution Control
19    Revolving Fund for the construction or repair  of  wastewater
20    treatment  works.  Each ordinance authorizing the issuance of
21    the obligations shall state the general purpose  or  purposes
22    for   which   they  are  to  be  issued,  and  the  corporate
23    authorities may at  any  time  thereafter  pass  supplemental
24    appropriations ordinances appropriating the proceeds from the
25    sale of such obligations for such purposes.
26        The corporate authorities may issue bonds, notes or other
27    evidences  of  indebtedness in an amount necessary to provide
28    funds to refund outstanding obligations  issued  pursuant  to
29    this   Section,  including  interest  accrued  or  to  accrue
30    thereon.
31    (Source: P.A. 92-726, eff. 7-25-02.)

32        Section 99. Effective date.  This Act takes  effect  upon
33    becoming law.