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| [ House Amendment 001 ] |
90_HB1451
70 ILCS 2605/9.6a from Ch. 42, par. 328.6a
Amends the Metropolitan Water Reclamation District Act.
Allows the corporate authorities of a sanitary district to
issue bonds at any time (now, on or before December 31, 2001)
in an aggregate amount not to exceed 3.35% of the EAV of the
taxable property within the sanitary district for certain
projects of the district.
LRB9002014DNsb
LRB9002014DNsb
1 AN ACT to amend the Metropolitan Water Reclamation
2 District by changing Section 9.6a.
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, 2001, 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
-2- LRB9002014DNsb
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 $100,000,000 plus the amount of any
12 obligations authorized by this Act to be issued during the 3
13 budget years next preceding the year of issuance but which
14 were not issued, provided, however, that this limitation
15 shall not be applicable to the issuance of obligations to
16 refund bonds, notes or other evidences of indebtedness, nor
17 to obligations issued to provide for the repayment of money
18 received from the Water Pollution Control Revolving Fund for
19 the construction or repair of wastewater treatment works.
20 Each ordinance authorizing the issuance of the obligations
21 shall state the general purpose or purposes for which they
22 are to be issued, and the corporate authorities may at any
23 time thereafter pass supplemental appropriations ordinances
24 appropriating the proceeds from the sale of such obligations
25 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. 87-501; 87-767; 88-107.)