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91_HB0389eng HB0389 Engrossed LRB9101199MWcs 1 AN ACT to amend the Local Mass Transit District Act by 2 changing Section 5. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Local Mass Transit District Act is 6 amended by changing Section 5 as follows: 7 (70 ILCS 3610/5) (from Ch. 111 2/3, par. 355) 8 Sec. 5. General powers. (a) The Board of Trustees of 9 every District may establish or acquire any or all manner of 10 mass transit facilitiesfacility. The Board may engage in the 11 business of transportation of passengers on scheduled routes 12 and by contract on nonscheduled routes within the territorial 13 limits of the counties or municipalities creating the 14 District, by whatever means it may decide. Its routes may be 15 extended beyond thesuchterritorial limits with the consent 16 of the governing bodies of the municipalities or counties 17 into which thesuchoperation is extended. 18 (b) The Board of Trustees of every District may for the 19 purposes of the District, acquire by gift, purchase, lease, 20 legacy, condemnation, or otherwise and hold, use, improve, 21 maintain, operate, own, manage or lease, as lessor or lessee, 22 such cars, buses, equipment, lands for terminal and other 23 facilities, or any interest therein, including all or any 24 part of the plant, equipment, vehicles, licenses, franchises, 25 patents, property, contracts and agreements of every kind and 26 nature. Real property may be so acquired if it is situated 27 within or partially within the area served by the District or 28 if it is outside the area if it is necessary for the purposes 29 of the District. 30 (c) The Board of Trustees of every District which 31 establishes or acquires mass transit facilities may contract HB0389 Engrossed -2- LRB9101199MWcs 1 with any person or corporation for the operation thereof upon 2 such terms and conditions as the District shall determine. 3 (d) The Board of Trustees of every District shall have 4 the authority to contract for any and all purposes of the 5 District with an interstate transportation authority, or with 6 another local Mass Transit District or any other municipal or 7 private corporation in the transportation business including 8 the authority to contract to lease its equipment for the 9 carriage of passengers beyond the territorial limits of the 10 District or to subsidize transit operations by a private or 11 municipal corporation operating mass transit facilities. 12 (e) The Board of Trustees of every District shall have 13 the authority to establish, alter and discontinue 14 transportation routes and any or all ancillary or supporting 15 facilities, and to establish and amend rate schedules for the 16 transportation of persons thereon or for the public or 17 private use thereof which rate schedules shall, together with 18 any grants, receipts or income from other sources, be 19 sufficient to pay the expenses of the District, the repair, 20 maintenance and the safe and adequate operation of its mass 21 transit facilities and transportation system and to fulfill 22 the terms of its debts and obligations. 23 (f) The Board of Trustees of every District shall have 24 perpetual succession and shall have the following powers in 25 addition to any others in this Act granted: 26 (1) to sue and be sued; 27 (2) to adopt and use a seal; 28 (3) to make and execute contracts and other 29 instruments necessary or convenient in the exercise of 30 its powers; 31 (4) to make, amend and repeal bylaws, rules and 32 regulations not inconsistent with this Act; 33 (5) to sell, transfer and dispose of any of its 34 property or interest therein at any time upon such terms HB0389 Engrossed -3- LRB9101199MWcs 1 and conditions as it may determine, with public bidding 2 if the value exceeds $1,000; 3 (6) to invest funds, not required for immediate 4 disbursement, in property or securities legal for 5 investment of funds controlled by savings banks; 6 (7) to mortgage, pledge, hypothecate or otherwise 7 encumber all or any part of its property or assets; 8 (8) to apply for, accept and use grants, loans or 9 other financial assistance from any municipal, county, 10 State or Federal governmental agency; 11 (9) to borrow money from the United States 12 Government or any agency thereof, or from any other 13 source, for the purposes of the District and, as evidence 14 thereof, to issue its revenue bonds, payable solely from 15 the revenue derived from the operation of the District. 16 These bonds may be issued with maturities not exceeding 17 40 years from the date of the bonds, and in such amounts 18 as may be necessary to provide sufficient funds, together 19 with interest, for the purposes of the District. These 20 bonds shall bear interest at a rate of not more than the 21 maximum rate authorized by the Bond Authorization Act, as 22 amended at the time of the making of the contract, 23 payable semi-annually, may be made registerable as to 24 principal, and may be made callable on any interest 25 payment date at a price of par and accrued interest under 26 such terms and conditions as may be fixed by the 27 ordinance authorizing the issuance of the bonds. Bonds 28 issued under this Section are negotiable instruments. 29 They shall be executed by the chairman and members of the 30 Board of Trustees and shall be sealed with the corporate 31 seal of the District. In case any Trustee whose signature 32 appears on the bonds or coupons ceases to hold that 33 office before the bonds are delivered, his signature, 34 shall nevertheless be valid and sufficient for all HB0389 Engrossed -4- LRB9101199MWcs 1 purposes, the same as though he had remained in office 2 until the bonds were delivered. The bonds shall be sold 3 in such manner and upon such terms as the Board of 4 Trustees shall determine, except that the selling price 5 shall be such that the interest cost to the District of 6 the proceeds of the bonds shall not exceed the maximum 7 rate authorized by the Bond Authorization Act, as amended 8 at the time of the making of the contract, payable 9 semi-annually, computed to maturity according to the 10 standard table of bond values. 11 The ordinance shall fix the amount of revenue bonds 12 proposed to be issued, the maturity or maturities, the 13 interest rate, which shall not exceed the maximum rate 14 authorized by the Bond Authorization Act, as amended at 15 the time of the making of the contract, and all the 16 details in connection with the bonds. The ordinance may 17 contain such covenants and restrictions upon the issuance 18 of additional revenue bonds thereafter, which will share 19 equally the revenue of the District, as may be deemed 20 necessary or advisable for the assurance of the payment 21 of the bonds first issued. Any District may also provide 22 in the ordinance authorizing the issuance of bonds under 23 this Section that the bonds, or such ones thereof as may 24 be specified, shall, to the extent and in the manner 25 prescribed, be subordinated and be junior in standing, 26 with respect to the payment of principal and interest and 27 the security thereof, to such other bonds as are 28 designated in the ordinance. 29 The ordinance shall pledge the revenue derived from 30 the operation of the District for the purpose of paying 31 the cost of operation and maintenance of the District, 32 providing an adequate depreciation fund, and paying the 33 principal and interest on the bonds of the District 34 issued under this Section. HB0389 Engrossed -5- LRB9101199MWcs 1 No Metro East Mass Transit District may issue 2 revenue bonds under this subparagraph (9) unless the 3 question of the issuance of such bonds is first submitted 4 to and approved by the voters of the District at a 5 referendum within the District. Notice of such 6 referendum shall be given and the election shall be 7 conducted in accordance with the general election law. 8 (10) subject to Section 5.1, to levy a tax on 9 property within the District at the rate of not to exceed 10 .25% on the assessed value of such property in the manner 11 provided in "The Illinois Municipal Budget Law", approved 12 July 12, 1937, as amended; 13 (11) to issue tax anticipation warrants; 14 (12) to contract with any school district in this 15 State to provide for the transportation of pupils to and 16 from school within such district pursuant to the 17 provisions of Section 29-15 of the School Code; 18 (13) to provide for the insurance of any property, 19 directors, officers, employees or operations of the 20 District against any risk or hazard, and to self-insure 21 or participate in joint self-insurance pools or entities 22 to insure against such risk or hazard; 23 (14) to use its established funds, personnel, and 24 other resources to acquire, construct, operate, and 25 maintain bikeways and trails. Districts may cooperate 26 with other governmental and private agencies in bikeway 27 and trail programs; and 28 (15) to acquire, own, maintain, construct, 29 reconstruct, improve, repair, operate or lease any 30 light-rail public transportation system, terminal, 31 terminal facility, public airport, or bridge or toll 32 bridge across waters with any city, state, or both. 33 With respect to instruments for the payment of money 34 issued under this Section either before, on, or after the HB0389 Engrossed -6- LRB9101199MWcs 1 effective date of this amendatory Act of 1989, it is and 2 always has been the intention of the General Assembly (i) 3 that the Omnibus Bond Acts are and always have been 4 supplementary grants of power to issue instruments in 5 accordance with the Omnibus Bond Acts, regardless of any 6 provision of this Act that may appear to be or to have been 7 more restrictive than those Acts, (ii) that the provisions of 8 this Section are not a limitation on the supplementary 9 authority granted by the Omnibus Bond Acts, and (iii) that 10 instruments issued under this Section within the 11 supplementary authority granted by the Omnibus Bond Acts are 12 not invalid because of any provision of this Act that may 13 appear to be or to have been more restrictive than those 14 Acts. 15 (Source: P.A. 87-985; 88-115.)