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91_SB1456
SRS91S0066AKcb
1 AN ACT in relation to the Toll Highway Authority.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Toll Highway Act is amended by changing
5 Sections 8, 10, 17, and 20.1 as follows:
6 (605 ILCS 10/8) (from Ch. 121, par. 100-8)
7 Sec. 8. The Authority shall have the power:
8 (a) To acquire, own, use, hire, lease, operate and
9 dispose of personal property, real property, any interest
10 therein, including rights-of-way, franchises and easements.
11 (b) To enter into all contracts and agreements necessary
12 or incidental to the performance of its powers under this
13 Act. All employment contracts let under this Act shall be in
14 conformity with the applicable provisions of the Prevailing
15 Wage Act "An Act regulating wages of laborers, mechanics and
16 other workers employed under contracts for public works,"
17 approved June 26, 1941, as amended.
18 (c) To employ and discharge, without regard to the
19 requirements of any civil service or personnel act, such
20 administrative, engineering, traffic, architectural,
21 construction, and financial experts, and inspectors, and such
22 other employees, as are necessary in the Authority's judgment
23 to carry out the purposes of this Act; and to establish and
24 administer standards of classification of all of such persons
25 with respect to their compensation, duties, performance, and
26 tenure; and to enter into contracts of employment with such
27 persons for such periods and on such terms as the Authority
28 deems desirable.
29 (d) To appoint by and with the consent of the Attorney
30 General, assistant attorneys for such Authority, which said
31 assistant attorneys shall be under the control, direction and
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1 supervision of the Attorney General and shall serve at his
2 pleasure.
3 (e) To retain special counsel, subject to the approval
4 of the Attorney General, as needed from time to time, and fix
5 their compensation, provided however, such special counsel
6 shall be subject to the control, direction and supervision of
7 the Attorney General and shall serve at his pleasure.
8 (f) To acquire, construct, relocate, operate, regulate
9 and maintain a system of toll highways through and within the
10 State of Illinois. However, the Authority does not have the
11 power to acquire, operate, regulate or maintain any system of
12 toll highways or toll bridges or portions of them (including
13 but not limited to any system organized pursuant to Division
14 108 of Article 11 of the Illinois Municipal Code) in the
15 event either of the following conditions exists at the time
16 the proposed acquisition, operation, regulation or
17 maintenance of such system is to become effective:
18 (1) the principal or interest on bonds or other
19 instruments evidencing indebtedness of the system are in
20 default; or
21 (2) the principal or interest on bonds or other
22 instruments evidencing indebtedness of the system have been
23 in default at any time during the 5 year period prior to the
24 proposed acquisition.
25 To facilitate such construction, operation and
26 maintenance and subject to the approval of the Division of
27 Highways of the Department of Transportation, the Authority
28 shall have the full use and advantage of the engineering
29 staff and facilities of the Department.
30 (Source: P.A. 83-1258.)
31 (605 ILCS 10/10) (from Ch. 121, par. 100-10)
32 Sec. 10. The Authority shall have power:
33 (a) To pass resolutions, make by-laws, rules and
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1 regulations for the management, regulation and control of its
2 affairs, and to fix tolls, and to make, enact and enforce all
3 necessary needful rules and regulations in connection with
4 the construction, operation, management, care, regulation or
5 protection of its property or any toll highways, constructed
6 or reconstructed hereunder.
7 (a-5) To fix, assess, and collect civil fines for a
8 vehicle's operation on a toll highway without the required
9 toll having been paid. The Authority may establish by rule a
10 system of civil administrative adjudication to adjudicate
11 only alleged instances of a vehicle's operation on a toll
12 highway without the required toll having been paid, as
13 detected by the Authority's video surveillance system. Rules
14 establishing a system of civil administrative adjudication
15 must provide for written notice of the alleged violation and
16 an opportunity to be heard on the question of the violation
17 and must provide for the establishment of a toll-free
18 telephone number to receive inquiries concerning alleged
19 violations. Only civil fines may be imposed by
20 administrative adjudication. A fine may be imposed under
21 this paragraph only if a violation is established by a
22 preponderance of the evidence. Judicial review of all final
23 orders of the Authority under this paragraph shall be
24 conducted in accordance with the Administrative Review Law.
25 (b) To prescribe rules and regulations applicable to
26 traffic on highways under the jurisdiction of the Authority,
27 concerning:
28 (1) Types of vehicles permitted to use such
29 highways or parts thereof, and classification of such
30 vehicles;
31 (2) Designation of the lanes of traffic to be used
32 by the different types of vehicles permitted upon said
33 highways;
34 (3) Stopping, standing, and parking of vehicles;
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1 (4) Control of traffic by means of police officers
2 or traffic control signals;
3 (5) Control or prohibition of processions, convoys,
4 and assemblages of vehicles and persons;
5 (6) Movement of traffic in one direction only on
6 designated portions of said highways;
7 (7) Control of the access, entrance, and exit of
8 vehicles and persons to and from said highways; and
9 (8) Preparation, location and installation of all
10 traffic signs; and to prescribe further rules and
11 regulations applicable to such traffic, concerning
12 matters not provided for either in the foregoing
13 enumeration or in the Illinois Vehicle Code. Notice of
14 such rules and regulations shall be posted conspicuously
15 and displayed at appropriate points and at reasonable
16 intervals along said highways, by clearly legible markers
17 or signs, to provide notice of the existence of such
18 rules and regulations to persons traveling on said
19 highways. At each toll station, the Authority shall make
20 available, free of charge, pamphlets containing all of
21 such rules and regulations.
22 (c) The Authority, in fixing the rate for tolls for the
23 privilege of using the said toll highways, is authorized and
24 directed, in fixing such rates, to base the same upon annual
25 estimates to be made, recorded and filed with the Authority.
26 Said estimates shall include the following: The estimated
27 total amount of the use of the toll highways; the estimated
28 amount of the revenue to be derived therefrom, which said
29 revenue, when added to all other receipts and income, will be
30 sufficient to pay the expense of maintaining and operating
31 said toll highways, including the administrative expenses of
32 the Authority, and to discharge all obligations of the
33 Authority as they become due and payable.
34 (d) To accept from any municipality or political
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1 subdivision any lands, easements or rights in land needed for
2 the operation, construction, relocation or maintenance of any
3 toll highways, with or without payment therefor, and in its
4 discretion to reimburse any such municipality or political
5 subdivision out of its funds for any cost or expense incurred
6 in the acquisition of land, easements or rights in land, in
7 connection with the construction and relocation of the said
8 toll highways, widening, extending roads, streets or avenues
9 in connection therewith, or for the construction of any roads
10 or streets forming extension to and connections with or
11 between any toll highways, or for the cost or expense of
12 widening, grading, surfacing or improving any existing
13 streets or roads or the construction of any streets and roads
14 forming extensions of or connections with any toll highways
15 constructed, relocated, operated, maintained or regulated
16 hereunder by the Authority. Where property owned by a
17 municipality or political subdivision is necessary to the
18 construction of an approved toll highway, if the Authority
19 cannot reach an agreement with such municipality or political
20 subdivision and if the use to which the property is being put
21 in the hands of the municipality or political subdivision is
22 not essential to the existence or the administration of such
23 municipality or political subdivision, the Authority may
24 acquire the property by condemnation.
25 (Source: P.A. 89-120, eff. 7-7-95.)
26 (605 ILCS 10/17) (from Ch. 121, par. 100-17)
27 Sec. 17. Bonds.
28 (a) The Authority may from time to time issue bonds for
29 any lawful purpose including, without limitation, the costs
30 of issuance thereof and all such bonds or other obligations
31 of the Authority issued pursuant to this Act shall be and are
32 hereby declared to be negotiable for all purposes
33 notwithstanding their payment from a limited source and
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1 without regard to any other law or laws.
2 (b) The bonds of every issue shall be payable solely out
3 of revenues of the Authority, accumulated reserves or sinking
4 funds, bond proceeds, proceeds of refunding bonds, or
5 investment earnings as the Authority shall specify in a bond
6 resolution.
7 (c) The bonds may be issued as serial bonds or as term
8 bonds, or the Authority, in its discretion, may issue bonds
9 of both types. The bonds shall be authorized by a bond
10 resolution of the Authority, may be issued in one or more
11 series and shall bear such date or dates, mature at such time
12 or times not exceeding 25 years from their respective date or
13 dates of issue, bear interest at such rate or rates, fixed or
14 variable, without regard to any limit contained in any other
15 statute or law of the State of Illinois, be payable as to
16 principal and interest at such time or times, be in such
17 denominations, be in such form, either coupon or fully
18 registered, carry such registration and conversion
19 privileges, be payable in lawful money of the United States
20 of America at such places, be subject to such terms of
21 redemption and may contain such other terms and provisions,
22 as such bond resolution or resolutions may provide. The
23 bonds shall be executed by the manual or facsimile signatures
24 of the Chairman and the Secretary. In case any of the
25 officers whose signature appears on the bonds or coupons, if
26 any, shall cease to be an officer before the delivery of such
27 bonds, such signature shall nevertheless be valid and
28 sufficient for all purposes, as if he had remained in office
29 until such delivery. The bonds shall be sold in such manner
30 as the Authority shall determine. The proceeds from the sale
31 of such bonds shall be paid to the Treasurer of the State of
32 Illinois as ex officio custodian. Pending preparation of the
33 definitive bonds, the Authority may issue interim receipts or
34 certificates which shall be exchanged for such definitive
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1 bonds.
2 (d) Any bond resolution, or trust indenture entered into
3 pursuant to a bond resolution, may contain provisions, which
4 shall be a part of the contract with the holders of the bonds
5 to be authorized, as to: (i) pledging or creating a lien upon
6 all or part of the revenues of the Authority or any reserves,
7 sinking funds, bond proceeds or investment earnings; (ii) the
8 setting aside of reserves or sinking funds, and the
9 regulation, investment and disposition thereof; (iii) the use
10 and maintenance requirements for the toll highways; (iv) the
11 purposes to which or the investments in which the proceeds of
12 sale of any series or issue of bonds then or thereafter to be
13 issued may be applied; (v) the issuance of additional bonds,
14 the terms upon which additional bonds may be issued and
15 secured, the purposes for such additional bonds, and the
16 terms upon which additional bonds may rank on a parity with,
17 or be subordinate or superior to other bonds; (vi) the
18 refunding of outstanding bonds; (vii) the procedure, if any,
19 by which the terms of any contract with bondholders may be
20 amended or abrogated, the amount of bonds the holders of
21 which must consent thereto, and the manner in which such
22 consent may be given; (viii) defining the acts or omissions
23 to act which shall constitute a default in the duties of the
24 Authority to holders of its obligations and providing the
25 rights and remedies of such holders in the event of a
26 default; (ix) any other matters relating to the bonds which
27 the Authority deems desirable.
28 (e) Neither the directors of the Authority nor any
29 person executing the bonds shall be liable personally on the
30 bonds or be subject to any personal liability or
31 accountability by reason of the issuance thereof.
32 (f) The Authority shall have power out of any funds
33 available therefor to purchase its bonds. The Authority may
34 hold, pledge, cancel or resell such bonds subject to and in
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1 accordance with agreements with bondholders.
2 (g) In the discretion of the Authority any bonds issued
3 under the provisions of this Act may be secured by a trust
4 indenture by and between the Authority and a trustee or
5 trustees, which may be any trust company or bank in the State
6 of Illinois having the powers of a trust company and
7 possessing capital and surplus of not less than $50,000,000.
8 The bond resolution or trust indenture providing for the
9 issuance of bonds so secured shall pledge such revenues of
10 the Authority, sinking funds, bond proceeds, or investment
11 earnings as may be specified therein, may contain such
12 provisions for protecting and enforcing the rights and
13 remedies of the bondholders as may be reasonable and proper
14 and not in violation of law, including particularly such
15 provisions as have hereinabove been specifically authorized
16 to be included in any bond resolution or trust indenture of
17 the Authority, and may restrict the individual right of
18 action by bondholders. In addition to the foregoing, any
19 bond resolution or trust indenture may contain such other
20 provisions as the Authority may deem reasonable and proper
21 for the security of the bondholders, including, but not
22 limited to, the purchase of bond insurance and the
23 arrangement of letters of credit, lines of credit or other
24 credit or liquidity enhancement facilities; provided there
25 shall be no pledge of the toll highway or any part thereof.
26 All expenses incurred in carrying out the provisions of any
27 bond resolution or trust indenture may be treated as a part
28 of the cost of the operation of the toll highways.
29 (h) Bonds issued under the authority of this Act do not,
30 and shall state upon the face of each bond that they do not,
31 represent or constitute a debt of the Authority or of the
32 State of Illinois within the meaning of any constitutional or
33 statutory limitation or a pledge of the faith and credit of
34 the Authority or the State of Illinois, or grant to the
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1 owners or holders thereof any right to have the Authority or
2 the General Assembly levy any taxes or appropriate any funds
3 for the payment of the principal thereof or interest thereon.
4 Such bonds shall be payable and shall state that they are
5 payable solely from the revenues and the sources authorized
6 under this Act and pledged for their payment in accordance
7 with the bond resolution or trust indenture.
8 Nothing in this Act shall be construed to authorize the
9 Authority or any department, board, commission or other
10 agency to create an obligation of the State of Illinois
11 within the meaning of the Constitution or Statutes of
12 Illinois.
13 (i) Any resolution or trust indenture authorizing the
14 issuance of the bonds may include provision for the issuance
15 of additional bonds. All resolutions of the Authority to
16 carry such adopted bond resolutions into effect, to provide
17 for the sale and delivery of the bonds, for letting of
18 contracts for the construction of toll highways and the
19 acquisition of real and personal property deemed by the
20 Authority necessary or convenient for the construction
21 thereof, shall not require the approval of the Governor or of
22 any other department, division, commission, bureau, board or
23 other agency of the State.
24 (Source: P.A. 83-1258.)
25 (605 ILCS 10/20.1) (from Ch. 121, par. 100-20.1)
26 Sec. 20.1. Refunding bonds.
27 (a) The Authority is hereby authorized, by resolution,
28 to provide for the issuance, from time to time, of refunding
29 or advance refunding bonds for the purpose of refunding any
30 bonds then outstanding at maturity or on any redemption date,
31 whether an entire issue or series, or one or more issues or
32 series, or any portions or parts of any issue or series,
33 which shall have been issued by the Authority or its
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1 predecessor, the Illinois State Toll Highway Commission.
2 (b) The proceeds of any such refunding bonds may be used
3 for any one or more of the following purposes:
4 (1) To pay the principal amount of any outstanding bonds
5 to be retired at maturity or redeemed prior to maturity;
6 (2) To pay the total amount of any redemption premium
7 incident to redemption of such outstanding bonds to be
8 refunded;
9 (3) To pay the total amount of any interest accrued or
10 to accrue to the date or dates of redemption or maturity of
11 such outstanding bonds to be refunded;
12 (4) To pay any and all costs or expenses incident to
13 such refunding;
14 (5) To make deposits into an irrevocable trust in
15 accordance with subsection (f) of this Section 20.1.
16 Refunding bonds may be issued in amounts sufficient to
17 accomplish any one or more of the foregoing purposes, taking
18 into consideration the income earned on bond proceeds prior
19 to the application thereof or without taking such income into
20 consideration.
21 (c) The issuance of refunding bonds, the maturities and
22 other details thereof, the rights of the holders thereof and
23 the rights, duties and obligations of the Authority in
24 respect of the same shall be governed by the provisions of
25 this Act, insofar as the same may be applicable, and may in
26 harmony therewith be adjusted and modified to conform to the
27 facts and circumstances prevailing in each instance of
28 issuance of such refunding bonds. The Authority need not
29 comply with the requirements of any other law applicable to
30 the issuance of bonds other than as set forth in this Act.
31 (d) With reference to the investment of the proceeds of
32 any such refunding bonds, the Authority shall not authorize
33 or anticipate investment earnings exceeding such as are
34 authorized or permitted under prevailing federal laws,
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1 regulations and administrative rulings and interpretations
2 relating to arbitrage bonds.
3 (e) The proceeds of any such refunding bonds (together
4 with any other funds available for application to refunding
5 purposes, if so provided or permitted by resolution
6 authorizing the issuance of such refunding bonds, or in a
7 trust indenture securing the same) may be placed in trust to
8 be applied to the purchase, retirement at maturity or
9 redemption of the bonds to be refunded on such dates as may
10 be determined by the Authority. Pending application thereof,
11 the proceeds of such refunding bonds and such other available
12 funds, if any, may be invested in direct obligations of, or
13 obligations the principal of which and any interest on which
14 are unconditionally guaranteed by, the United States of
15 America which shall mature, or which shall be subject to
16 redemption by the holder thereof at its option, not later
17 than the respective date or dates when such proceeds and
18 other available funds, if any, will be required for the
19 refunding purpose intended or authorized.
20 (f) Upon (1) the deposit of the proceeds of the
21 refunding bonds (together with any other funds available for
22 application to refunding purposes, if so provided or
23 permitted by resolution authorizing the issuance of such
24 refunding bonds, or in a trust indenture securing the same)
25 in an irrevocable trust pursuant to a trust agreement with a
26 trustee requiring the trustee to satisfy the obligations of
27 the Authority to timely pay at maturity or upon prior
28 redemption the outstanding bonds for which the proceeds of
29 the refunding bonds and other funds, if any, are deposited,
30 in an amount sufficient to satisfy the obligations of the
31 Authority to timely pay at maturity or upon prior redemption
32 such outstanding bonds, or (2) the deposit in such
33 irrevocable trust of direct obligations of, or obligations
34 the principal and interest of which are unconditionally
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1 guaranteed by, the United States of America in an amount
2 sufficient, without regard to investment earnings thereon, to
3 satisfy the obligations of the Authority to timely pay at
4 maturity or upon prior redemption such outstanding bonds, or
5 (3) the deposit in such irrevocable trust of obligations
6 referred to in (2) above in an amount sufficient so that,
7 taking into account investment earnings, upon maturity (or
8 upon optional redemption by the trustee) of such obligations
9 amounts will be produced on a timely basis sufficient to
10 satisfy the obligations of the Authority to timely pay at
11 maturity or upon prior redemption such outstanding bonds,
12 such outstanding bonds shall be deemed paid and no longer be
13 deemed to be outstanding for purposes of such resolution or
14 trust indenture and all rights and obligations under any such
15 prior resolution or trust indenture shall be deemed
16 discharged notwithstanding any provision of any such
17 outstanding bonds or any resolution or trust indenture
18 authorizing the issuance of such outstanding bonds; provided,
19 however, that the holders of such outstanding bonds shall
20 have an irrevocable and unconditional right to payment in
21 full of all principal of and premium, if any, and interest on
22 such outstanding bonds, at maturity or upon prior redemption,
23 from the amounts on deposit in such trust. The trustee shall
24 be any trust company or bank in the State of Illinois having
25 the power of a trust company possessing capital and surplus
26 of not less than $100,000,000.
27 (g) It is hereby found and determined that the
28 contractual rights of the bondholders under any such prior
29 resolution or trust indenture will not be impaired by a
30 refunding pursuant to the provisions of this Section 20.1 in
31 that, the payment of such outstanding bonds having been
32 provided for as set forth herein, the bondholders' rights and
33 security as to payment of the principal of, premium, if any,
34 and interest on such outstanding bonds will have been
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1 enhanced, and the bondholders shall suffer no financial loss.
2 It is hereby further found and determined that a refunding of
3 any outstanding bonds of the Authority pursuant to this
4 Section 20.1 shall further the purposes set forth in Section
5 1..
6 (Source: P.A. 83-1258; revised 1-11-00.)