(70 ILCS 3210/5)
In this Act:
"Assistance Agreement" means one or more legally binding contracts, with
respect to a facility for which the Authority is to provide financial
assistance as provided in this Act, to which the Authority and a governmental
owner of a facility or its tenant, or both, and any other appropriate persons
are parties, which may be in the form of an intergovernmental agreement.
"Authority" means the Downstate Illinois Sports Facilities Authority.
"Facility" means any of the following:
(1) Stadiums, arenas, or other structures for the
holding of athletic contests or events, including baseball, football, hockey, and automobile racing; musical, dramatic, and other artistic or social events, or public meetings and other public events.
(2) Practice fields, or other areas where
professional, amateur, or semi-professional sports teams may practice or perform.
"Facility" also means the following types of property if that
property is directly related to an item listed in paragraphs (1) or
(2) of this definition:
(i) Offices, parking lots and garages,
landscaping and open spaces, access roads, transportation facilities, restaurants, and stores.
(ii) Other recreation areas.
(iii) Other property or structures, including all
fixtures, furnishings, and appurtenances normally associated with such facilities.
"Financial Assistance" means the use by the Authority, pursuant to an
assistance agreement, of its powers under the Act, including, without
limitation, the power to borrow money, to issue bonds and notes, to assist a
governmental owner or its tenants, or both, with one or more of the following:
designing, developing, establishing, constructing, erecting, acquiring,
repairing, reconstructing, renovating, remodeling, adding to, extending,
improving, equipping, operating, and maintaining a facility owned or be owned
the governmental owner.
"Governmental Owner" means a body politic, public corporation, political
subdivision, unit of local government, or municipality formed under the laws of
the State of Illinois that owns or is to own a facility located within the
corporate limits of the Authority described in Section 50 of this Act and to
which the Authority provides financial assistance.
"Loan agreement" means a legally binding contract between the Authority and
an owner of a facility, pursuant to which the Authority agrees to make loans to
the owner for the purpose of (i) constructing, acquiring, operating, repairing,
rehabilitating, or managing a facility and the site on which a facility is or
is to be located, which facility or site must be located in the State of
Illinois, excluding the City of Chicago, and (ii) infrastructure improvements
related to the facility.
"Management Agreement" means a legally binding contract between the Authority
and a tenant of a facility owned by the Authority, which contains at least the
(A) a provision requiring the tenant to conduct its
complete regular home season schedule and any home playoff events in the facility;
(B) a provision requiring the tenant to provide
routine maintenance of and to operate the facility with its personnel or contractors;
(C) a provision requiring the tenant to advertise and
promote events it conducts at the facility;
(D) a provision requiring the tenant to operate or
contract for concessions for the patrons of the facility; and
(E) a provision permitting the Authority or its
designee to hold other events in any such facility owned by the Authority at such times as shall not unreasonably interfere with the use of that facility by the tenant.
"Tenant" means any person with which a governmental owner or the Authority
has entered into an agreement for the use by a sports team of any facility.
Such an agreement may be a management agreement or an assistance agreement or
may be a lease of or a license, permit or similar agreement with respect to the
use of a facility by such team for such period as shall be agreed upon by the
person and the governmental owner or the Authority, as the case may be.
(Source: P.A. 93-227, eff. 1-1-04.)
(70 ILCS 3210/35)
(a) In addition to the powers set forth elsewhere in this Act, the Authority
may do the following:
(1) Adopt and alter an official seal.
(2) Sue and be sued, plead and be impleaded, all in
its own name, and agree to binding arbitration of any dispute to which it is a party.
(3) Adopt bylaws, rules, and regulations to carry out
the provisions of this Act.
(4) Maintain an office or offices at the place the
(5) Employ, either as regular employees or
independent contractors, consultants, engineers, architects, accountants, attorneys, financial experts, construction experts and personnel, superintendents, managers and other professional personnel, and such other personnel as may be necessary in the judgment of the Authority, and fix their compensation.
(6) Acquire, hold, lease as lessor or as lessee, use,
encumber, transfer, or dispose of real and personal property, including the alteration of or demolition of improvements to real estate.
(7) Enter into contracts of any kind.
(8) Enter into one or more loan agreements with an
owner of a facility that conform to the requirements of this Act and that may contain provisions as the Authority shall determine, including, without limit: (i) provisions granting the owner the right and option to extend the term of the loan agreement; (ii) provisions creating an assignment and pledge by the Authority of certain of the Authority's revenues and receipts to be received under this Act for the benefit of the owner of the facility as further security for performance by the Authority of its obligations under the loan agreement; and (iii) provisions requiring the establishment of reserves by the Authority or by the owner, or both, as further security for the performance of their respective obligations under the loan agreement.
(9) Borrow money from any source for any lawful
purpose, including working capital for its operations, reserve funds, or interest, and to mortgage, pledge or otherwise encumber the property or funds of the Authority and to contract with or engage the services of any person in connection with any financing, including financial institutions, issuers of letters of credit, or insurers and enter into reimbursement agreements with this person which may be secured as if money were borrowed from the person.
(10) Receive and accept from any private or public
source, contributions, gifts, or grants of money or property.
(11) Make loans from proceeds or funds otherwise
available to the extent necessary or appropriate to accomplish the purposes of the Authority.
(12) Provide for the insurance of any property,
operations, officers, agents, or employees of the Authority against any risk or hazard and provide for the indemnification of its members, employees, contractors, or agents against any and all risks.
(13) Provide relocation assistance and compensation
for landowners and their lessees displaced by any land acquisition of the Authority, including the acquisition of land and construction of replacement housing thereon as the Authority shall determine.
(14) Exercise all the corporate powers granted
Illinois corporations under the Business Corporation Act of 1983, except to the extent that powers are inconsistent with those of a body politic and corporate of the State.
(15) Determine the locations of, develop, design,
establish, construct, erect, acquire, own, repair, reconstruct, renovate, remodel, add to, extend, improve, equip, operate, regulate and maintain facilities and provide financial assistance to governmental owners or their tenants or both, pursuant to an assistance agreement to do the foregoing, in each case to the extent necessary to accomplish the purposes of the Authority.
(16) Regulate the use and operation of facilities
that are developed under the provisions of this Act.
(17) Enter into one or more management agreements
which conform to the requirements of this Act and which may contain such provisions as the Authority shall determine, including, without limitation (i) provisions allocating receipts from rents, rates, fees, and charges for use of the facility or for services rendered in connection with the facility between the Authority and the tenant of the facility; (ii) provisions providing for or limiting payments to the Authority for use of the facility based on levels of attendance or receipts, or both attendance and receipts, of the tenant from admission charges, parking concessions, advertising, radio and television, and other sources; (iii) provisions obligating the Authority to make payments to the tenant with respect to expenses of routine maintenance and operation of any facility and operating expenses of the tenant with respect to use of the facility; (iv) provisions requiring the Authority to pay liquidated damages to the tenant for failure of timely completion of construction of any new facility; (v) provisions permitting the Authority to grant rent-free occupancy of an existing facility pending completion of construction of any new facility and requiring the Authority to pay certain incremental costs of maintenance, repair, replacement, and operation of an existing facility in the event of failure of timely completion of construction of any new facility; (vi) provisions requiring the Authority to reimburse the tenant for certain State and local taxes and provisions permitting reductions of payments due the Authority by the tenant or reimbursement of the tenant by the Authority in the event of imposition of certain new State and local taxes, or the increase above specified levels of certain existing State and local taxes, or both; (vii) provisions obligating the Authority to purchase tickets to events conducted by the tenant based upon specified attendance levels; (viii) provisions granting the tenant the right and option to extend the term of the management agreement; and (ix) provisions requiring the establishment of reserves by the Authority or by the tenant, or both, as further security for the performance of their respective obligations under the management agreement.
(18) Enter into one or more assistance agreements
that conform to the requirements of this Act and that may contain such provisions as the Authority shall determine establishing the rights and obligations of the Authority and the governmental owner or a tenant, or both, with respect to the facility for which the Authority is to provide financial assistance.
(19) Issue bonds or notes under Section 100 of this
(20) Sell, convey, lease, or grant a permit or
license with respect to, or by agreement authorize another person on its behalf to sell, convey, lease or grant a permit or license with respect to (i) the right to use or the right to purchase tickets to use, or any other interest in, any seat or area within a facility; (ii) the right to name or place advertising in all or any part of a facility; or (iii) any intangible personal property rights, including intellectual property rights, appurtenant to any facility, the proceeds of which are used for the purpose of carrying out the powers granted by the Act.
(21) Do all things necessary or convenient to carry
out the powers granted by this Act.
(b) The Authority may not construct or enter into a contract to construct
more than one new stadium facility and may not enter into assistance agreements
providing for the reconstruction, renovation, remodeling, extension, or
improvement of all or substantially all of more than one existing facility
unless authorized by law.
(c) The Authority may adopt such rules as are necessary to carry out those
powers conferred and perform those duties required by this Act.
(Source: P.A. 93-227, eff. 1-1-04.)
(70 ILCS 3210/40)
(a) In addition to the powers set forth elsewhere in this Act, subject to
the terms of any agreements with the holders of the Authority's evidences of
indebtedness, the Authority shall do the following:
(1) Comply with all zoning, building, and land use
controls of the municipality within which is located any stadium facility owned by the Authority or for which the Authority provides financial assistance.
(2) Enter into a loan agreement with an owner of a
facility to finance the acquisition, construction, maintenance, or rehabilitation of the facility. The agreement shall contain appropriate and reasonable provisions with respect to termination, default, and legal remedies. The loan may be at below-market interest rates.
(3) Create and maintain a financial reserve for
repair and replacement of capital assets.
(b) In a loan agreement for the construction of a new facility, in
connection with prequalification of general contractors for construction of the
facility, the Authority shall require that the owner of the facility require
submission of a commitment detailing how the general contractor will expend 25%
or more of the dollar value of the general contract with one or more minority-owned businesses and 5% or more of the dollar value with one or more women-owned businesses. This commitment may be met by contractor's status as a minority-owned businesses
or women-owned businesses, by a joint venture,
or by subcontracting a portion of the work with or by purchasing materials for
the work from one or more such businesses, or by any combination thereof. Any
contract with the general contractor for construction of the new facility shall
require the general contractor to meet the foregoing obligations and shall
require monthly reporting to the Authority with respect to the status of the
implementation of the contractor's affirmative action plan and compliance with
that plan. This report shall be filed with the General Assembly. The Authority
shall require that the facility owner establish and maintain an affirmative
action program designed to promote equal employment opportunity and that
specifies the goals and methods for increasing participation by minorities and
women in a representative mix of job classifications required to perform the
respective contracts. The Authority shall file a report before March 1 of each
year with the General Assembly detailing its implementation of this subsection.
The terms "minority-owned businesses" and "women-owned businesses" have
the meanings provided in the Business Enterprise for Minorities, Women, and
Persons with Disabilities Act.
(c) With respect to a facility owned or to be owned by the Authority, enter
or have entered into a management agreement with a tenant of the Authority to
operate the facility that requires the tenant to operate the facility for a
period at least as long as the term of any bonds issued to finance the
development, establishment, construction, erection, acquisition, repair,
reconstruction, remodeling, adding to, extension, improvement, equipping,
operation, and maintenance of the facility. Such agreement shall contain
appropriate and reasonable provisions with respect to termination, default, and
(Source: P.A. 100-391, eff. 8-25-17.)
(70 ILCS 3210/100)
Bonds and notes.
(a) (1) The Authority may at any time and from time to time
issue bonds and
notes for any corporate purpose, including the establishment of reserves and
the payment of interest and costs of issuance. In this Act the term "bonds"
includes notes of any kind, interim certificates, refunding bonds or any other
evidence of obligation for borrowed money issued under this Section 100. Bonds
may be issued in one or more series and may be payable and secured either on a
parity with or separately from other bonds.
(2) The bonds of any issue shall be payable solely from all or any part
of the property or revenues of the Authority, including, without limitation:
(i) Rents, rates, fees, charges, or other revenues
payable to or any receipts of the Authority, including amounts which are deposited pursuant to the Act with a trustee for bondholders;
(ii) Payments by financial institutions, insurance
companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;
(iii) Investment earnings from funds or accounts
maintained pursuant to a bond resolution or trust agreement; and
(iv) Proceeds of refunding bonds.
(3) Bonds may be authorized by a resolution of the Authority and may be
secured by a trust agreement by and between the Authority and a corporate
trustee or trustees, which may be any trust company or bank having the powers
of a trust company within or without the State. Bonds may:
(i) Mature at a time or times, whether as serial
bonds, as term bonds, or as both, not exceeding 40 years from their respective dates of issue;
(ii) Notwithstanding the provision of "An Act to
authorize public corporations to issue bonds, other evidences of indebtedness and tax anticipation warrants subject to interest rate limitations set forth therein", approved May 26, 1970, as now or hereafter amended, or any other provision of law, bear interest at any fixed or variable rate or rates determined by the method provided in the resolution or trust agreement;
(iii) Be payable at a time or times, in the
denominations and form, either coupon, or registered, or both, and carry the registration and privileges as to exchange, transfer or conversion and for the replacement of mutilated, lost or destroyed bonds as the resolution or trust agreement may provide;
(iv) Be payable in lawful money of the United States
(v) Be subject to the terms of purchase, payment,
redemption, refunding, or refinancing that the resolution or trust agreement provides;
(vi) Be executed by the manual or facsimile
signatures of the officers of the Authority designated by the Authority which signatures shall be valid at delivery even for one who has ceased to hold office; and
(vii) Be sold in the manner and upon the terms
determined by the Authority.
(b) Any resolution or trust agreement may contain provisions which shall
be part of the contract with the holders of the bonds as to:
(1) Pledging, assigning, or directing the use,
investment, or disposition of all or any part of the revenues of the Authority or proceeds or benefits of any contract including, without limit, any management agreement or assistance agreement and conveying or otherwise securing any property or property rights;
(2) The setting aside of loan funding deposits, debt
service reserves, capitalized interest accounts, replacement or operating reserves, cost of issuance accounts and sinking funds, and the regulation, investment, and disposition thereof;
(3) Limitations on the purposes to which or the
investments in which the proceeds of sale of any issue of bonds or the Authority's revenues and receipts may be applied or made;
(4) Limitations on the issue of additional bonds, the
terms upon which additional bonds may be issued and secured, the terms upon which additional bonds may rank on a parity with, or be subordinate or superior to, other bonds;
(5) The refinancing, advance refunding, or
refinancing of outstanding bonds;
(6) The procedure, if any, by which the terms of any
contract with bondholders may be altered or amended and the amount of bonds and holders of which must consent thereto, and the manner in which consent shall be given;
(7) Defining the acts or omissions which shall
constitute a default in the duties of the Authority to holders of bonds and providing the rights or remedies of such holders in the event of a default which may include provisions restricting individual right of action by bondholders;
(8) Providing for guarantees, pledges of property,
letters of credit, or other security, or insurance for the benefit of bondholders; and
(9) Any other matter relating to the bonds which the
Authority determines appropriate.
(c) No member of the Authority nor any person executing the bonds shall be
liable personally on the bonds or subject to any personal liability by reason
of the issuance of the bonds.
(d) The Authority may enter into agreements with agents, banks, insurers,
or others for the purpose of enhancing the marketability of or security for its
(e) (1) A pledge by the Authority of revenues and receipts as security
for an issue of bonds or for the performance of its obligations under any
management agreement or assistance agreement shall be valid and binding from
the time when the pledge is made.
(2) The revenues and receipts pledged shall
immediately be subject to the lien of the pledge without any physical delivery or further act, and the lien of any pledge shall be valid and binding against any person having any claim of any kind in tort, contract or otherwise against the Authority, irrespective of whether the person has notice.
(3) No resolution, trust agreement, management
agreement or assistance agreement or any financing statement, continuation statement, or other instrument adopted or entered into by the Authority need be filed or recorded in any public record other than the records of the Authority in order to perfect the lien against third persons, regardless of any contrary provision of law.
(f) The Authority may issue bonds to refund, advance refund, or refinance
any of its bonds then outstanding, including the payment of any redemption
premium and any interest accrued or to accrue to the earliest or any subsequent
date of redemption, purchase or maturity of the bonds. Refunding or advance
refunding bonds may be issued for the public purposes of realizing savings in
the effective costs of debt service, directly or through a debt restructuring,
for alleviating impending or actual default, or for paying principal of,
redemption premium, if any, and interest on bonds as they mature or are subject
to redemption, and may be issued in one or more series in an amount in excess
of that of the bonds to be refunded.
(g) At no time shall the total outstanding bonds and notes of the Authority
issued under this Section 100 exceed (i) $40,000,000 in connection with
facilities owned by the Authority; and (ii) $40,000,000 in connection with
facilities owned by a governmental owner other than the Authority. Bonds which
are being paid or retired by issuance, sale or delivery of bonds or notes, and
bonds or notes for which sufficient funds have been deposited with the paying
agent or trustee to provide for payment of principal and interest thereon, and
any redemption premium, as provided in the authorizing resolution, shall not be
considered outstanding for the purposes of this paragraph.
(h) The bonds and notes of the Authority shall not be indebtedness of the
State, or of any political subdivision of the State other than the Authority.
The bonds and notes of the Authority are not general obligations of the State
of Illinois, or of any other political subdivision of the State other than the
Authority, and are not secured by a pledge of the full faith and credit of the
State of Illinois, or of any other political subdivision of the State other
than the Authority, and the holders of bonds and notes of the Authority may not
require the levy or imposition by the State, or any other political subdivision
of the State other than the Authority, of any taxes or, except as provided in
this Act, the application of revenues or funds of the State of Illinois, or any
other political subdivision of the State other than the Authority, to the
payment of bonds and notes of the Authority.
(i) In order to provide for the payment of debt service requirements
(including amounts for reserve funds and to pay the costs of credit
enhancements) on bonds issued pursuant to this Act, the Authority may provide
in any trust agreement securing such bonds for a pledge and assignment of its
right to all amounts to be received from the Illinois Sports Facilities Fund
and for a pledge and assignment (subject to the terms of any management
agreement or assistance agreement) of all taxes and other amounts to be
received under Section 100 of this Act and may further provide written notice
to the State Treasurer and State Comptroller (which notice shall constitute a
direction to those officers) for a direct payment of these amounts to the
trustee for its bondholders.
(j) The State of Illinois pledges to and agrees with the holders of the
bonds and notes of the Authority issued pursuant to this Act that the State
will not limit or alter the rights and powers vested in the Authority by this
Act so as to impair the terms of any contract made by the Authority with such
holders or in any way impair the rights and remedies of such holders until such
bonds and notes, together with interest thereon, with interest on any unpaid
installments of interest, and all costs and expenses in connection with any
action or proceedings by or on behalf of such holders, are fully met and
discharged. In addition, the State pledges to and agrees with the holders of
the bonds and notes of the Authority issued pursuant to this Act that the State
will not limit or alter the basis on which State funds are to be allocated,
deposited and paid to the Authority as provided in this Act, or the use of such
funds, so as to impair the terms of any such contract. The Authority is
authorized to include these pledges and agreements of the State in any contract
with the holders of bonds or notes issued pursuant to this Section.
(Source: P.A. 93-227, eff. 1-1-04.)