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91_SB1827
BOB-BOND01
1 AN ACT amending the General Obligation Bond Act and the
2 Build Illinois Bond Act.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 (30 ILCS 330/1) (from Ch. 127, par. 651)
6 Sec. 1. Short Title. This Act shall be known and may be
7 cited as the "General Obligation Bond Act".
8 (Source: P.A. 83-1490.)
9 (30 ILCS 330/2) (from Ch. 127, par. 652)
10 Sec. 2. Authorization for Bonds. The State of Illinois
11 is authorized to issue, sell and provide for the retirement
12 of General Obligation Bonds of the State of Illinois in the
13 total amount of $16,803,657,592 $16,177,847,592 herein called
14 "Bonds".
15 Of the total amount of bonds authorized above, up to
16 $2,200,000,000 in aggregate original principal amount may be
17 issued and sold in accordance with the Baccalaureate Savings
18 Act in the form of General Obligation College Savings Bonds.
19 Of the total amount of bonds authorized above, up to
20 $300,000,000 in aggregate original principal amount may be
21 issued and sold in accordance with the Retirement Savings Act
22 in the form of General Obligation Retirement Savings Bonds.
23 The issuance and sale of Bonds pursuant to the General
24 Obligation Bond Act is an economical and efficient method of
25 financing the capital needs of the State. This Act will
26 permit the issuance of a multi-purpose General Obligation
27 Bond with uniform terms and features. This will not only
28 lower the cost of registration but also reduce the overall
29 cost of issuing debt by improving the marketability of
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1 Illinois General Obligation Bonds.
2 Bonds shall be issued for the categories and specific
3 purposes expressed in Sections 2 through 8 and Section 16 of
4 this Act.
5 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
6 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99;
7 91-53, eff 6-30-99.)
8 (30 ILCS 330/3) (from Ch. 127, par. 653)
9 Sec. 3. Capital Facilities. The amount of $5,845,847,592
10 $5,238,217,592 is authorized to be used for the acquisition,
11 development, construction, reconstruction, improvement,
12 financing, architectural planning and installation of capital
13 facilities within the State, consisting of buildings,
14 structures, durable equipment, land, and interests in land
15 for the following specific purposes:
16 (a) $1,680,255,446 $1,516,755,446 for educational
17 purposes by State universities and colleges, the Illinois
18 Community College Board created by the Public Community
19 College Act and for grants to public community colleges as
20 authorized by Sections 5-11 and 5-12 of the Public Community
21 College Act;
22 (b) $1,542,970,168 $1,312,970,168 for correctional
23 purposes at State prison and correctional centers;
24 (c) $470,941,786 $433,941,786 for open spaces,
25 recreational and conservation purposes and the protection of
26 land;
27 (d) $531,280,486 $506,780,486 for child care facilities,
28 mental and public health facilities, and facilities for the
29 care of disabled veterans and their spouses;
30 (e) $1,122,599,341 $1,033,599,341 for use by the State,
31 its departments, authorities, public corporations,
32 commissions and agencies;
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1 (f) $818,100 for cargo handling facilities at port
2 districts and for breakwaters, including harbor entrances, at
3 port districts in conjunction with facilities for small boats
4 and pleasure crafts;
5 (g) $186,657,796 $173,527,796 for water resource
6 management projects;
7 (h) $16,940,269 for the provision of facilities for food
8 production research and related instructional and public
9 service activities at the State universities and public
10 community colleges;
11 (i) $34,000,000 for grants by the Secretary of State, as
12 State Librarian, for central library facilities authorized by
13 Section 8 of the Illinois Library System Act and for grants
14 by the Capital Development Board to units of local government
15 for public library facilities;
16 (j) $25,000,000 for the acquisition, development,
17 construction, reconstruction, improvement, financing,
18 architectural planning and installation of capital facilities
19 consisting of buildings, structures, durable equipment and
20 land for grants to counties, municipalities or public
21 building commissions with correctional facilities that do not
22 comply with the minimum standards of the Department of
23 Corrections under Section 3-15-2 of the Unified Code of
24 Corrections;
25 (k) $5,000,000 for grants in fiscal year 1988 by the
26 Department of Conservation for improvement or expansion of
27 aquarium facilities located on property owned by a park
28 district;
29 (l) $148,584,200 $138,484,200 to State agencies for
30 grants to local governments for the acquisition, financing,
31 architectural planning, development, alteration,
32 installation, and construction of capital facilities
33 consisting of buildings, structures, durable equipment, and
34 land; and
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1 (m) $80,800,000 $40,400,000 for the Illinois Open Land
2 Trust Program as defined by the Illinois Open Land Trust Act.
3 The amounts authorized above for capital facilities may
4 be used for the acquisition, installation, alteration,
5 construction, or reconstruction of capital facilities and for
6 the purchase of equipment for the purpose of major capital
7 improvements which will reduce energy consumption in State
8 buildings or facilities.
9 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
10 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, 6-15-99; 91-53,
11 eff. 6-30-99.)
12 (30 ILCS 330/6) (from Ch. 127, par. 656)
13 Sec. 6. Anti-Pollution.
14 (a) The amount of $262,815,000 $244,635,000 is
15 authorized for allocation by the Environmental Protection
16 Agency for grants or loans to units of local government in
17 such amounts, at such times and for such purpose as the
18 Agency deems necessary or desirable for the planning,
19 financing, and construction of municipal sewage treatment
20 works and solid waste disposal facilities and for making of
21 deposits into the Water Revolving Fund and the U.S.
22 Environmental Protection Fund to provide assistance in
23 accordance with the provisions of Title IV-A of the
24 Environmental Protection Act.
25 (b) The amount of $160,500,000 is authorized for
26 allocation by the Environmental Protection Agency for payment
27 of claims submitted to the State and approved for payment
28 under the Leaking Underground Storage Tank Program
29 established in Title XVI of the Environmental Protection Act.
30 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
31 eff. 12-8-97; 90-586, eff. 6-4-98; 91-39, eff. 6-15-99.)
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1 (30 ILCS 425/1) (from Ch. 127, par. 2801)
2 Sec. 1. Short Title. This Article (herein the "Act")
3 shall be known and may be cited as the "Build Illinois Bond
4 Act".
5 (Source: P.A. 84-111.)
6 (30 ILCS 425/2) (from Ch. 127, par. 2802)
7 Sec. 2. Authorization for Bonds. The State of Illinois
8 is authorized to issue, sell and provide for the retirement
9 of limited obligation bonds, notes and other evidences of
10 indebtedness of the State of Illinois in the total principal
11 amount of $2,815,970,000 $2,790,970,000 herein called
12 "Bonds". Such authorized amount of Bonds shall be reduced
13 from time to time by amounts, if any, which are equal to the
14 moneys received by the Department of Revenue in any fiscal
15 year pursuant to Section 3-1001 of the "Illinois Vehicle
16 Code", as amended, in excess of the Annual Specified Amount
17 (as defined in Section 3 of the "Retailers' Occupation Tax
18 Act", as amended) and transferred at the end of such fiscal
19 year from the General Revenue Fund to the Build Illinois
20 Purposes Fund as provided in Section 3-1001 of said Code;
21 provided, however, that no such reduction shall affect the
22 validity or enforceability of any Bonds issued prior to such
23 reduction. Such amount of authorized Bonds shall be
24 exclusive of any refunding Bonds issued pursuant to Section
25 15 of this Act and exclusive of any Bonds issued pursuant to
26 this Section which are redeemed, purchased, advance refunded,
27 or defeased in accordance with paragraph (f) of Section 4 of
28 this Act. Bonds shall be issued for the categories and
29 specific purposes expressed in Section 4 of this Act.
30 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99.)
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1 (30 ILCS 425/4) (from Ch. 127, par. 2804)
2 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
3 following purposes and in the approximate amounts as set
4 forth below:
5 (a) $2,069,889,000 for the expenses of issuance and sale
6 of Bonds, including bond discounts, and for planning,
7 engineering, acquisition, construction, reconstruction,
8 development, improvement and extension of the public
9 infrastructure in the State of Illinois, including: the
10 making of loans or grants to local governments for waste
11 disposal systems, water and sewer line extensions and water
12 distribution and purification facilities, rail or air or
13 water port improvements, gas and electric utility extensions,
14 publicly owned industrial and commercial sites, buildings
15 used for public administration purposes and other public
16 infrastructure capital improvements; the making of loans or
17 grants to units of local government for financing and
18 construction of wastewater facilities; refinancing or
19 retiring bonds issued between January 1, 1987 and January 1,
20 1990 by home rule municipalities, debt service on which is
21 provided from a tax imposed by home rule municipalities prior
22 to January 1, 1990 on the sale of food and drugs pursuant to
23 Section 8-11-1 of the Home Rule Municipal Retailers'
24 Occupation Tax Act or Section 8-11-5 of the Home Rule
25 Municipal Service Occupation Tax Act; the making of deposits
26 not to exceed $70,000,000 in the aggregate into the Water
27 Pollution Control Revolving Fund to provide assistance in
28 accordance with the provisions of Title IV-A of the
29 Environmental Protection Act; the planning, engineering,
30 acquisition, construction, reconstruction, alteration,
31 expansion, extension and improvement of highways, bridges,
32 structures separating highways and railroads, rest areas,
33 interchanges, access roads to and from any State or local
34 highway and other transportation improvement projects which
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1 are related to economic development activities; the making of
2 loans or grants for planning, engineering, rehabilitation,
3 improvement or construction of rail and transit facilities;
4 the planning, engineering, acquisition, construction,
5 reconstruction and improvement of watershed, drainage, flood
6 control, recreation and related improvements and facilities,
7 including expenses related to land and easement acquisition,
8 relocation, control structures, channel work and clearing and
9 appurtenant work; the making of grants for improvement and
10 development of zoos and park district field houses and
11 related structures; and the making of grants for improvement
12 and development of Navy Pier and related structures.
13 (b) $96,301,500 $71,301,500 for fostering economic
14 development and increased employment and the well being of
15 the citizens of Illinois, including: the making of grants for
16 improvement and development of McCormick Place and related
17 structures; the planning and construction of a
18 microelectronics research center, including the planning,
19 engineering, construction, improvement, renovation and
20 acquisition of buildings, equipment and related utility
21 support systems; the making of loans to businesses and
22 investments in small businesses; acquiring real properties
23 for industrial or commercial site development; acquiring,
24 rehabilitating and reconveying industrial and commercial
25 properties for the purpose of expanding employment and
26 encouraging private and other public sector investment in the
27 economy of Illinois; the payment of expenses associated with
28 siting the Superconducting Super Collider Particle
29 Accelerator in Illinois and with its acquisition,
30 construction, maintenance, operation, promotion and support;
31 the making of loans for the planning, engineering,
32 acquisition, construction, improvement and conversion of
33 facilities and equipment which will foster the use of
34 Illinois coal; the payment of expenses associated with the
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1 promotion, establishment, acquisition and operation of small
2 business incubator facilities and agribusiness research
3 facilities, including the lease, purchase, renovation,
4 planning, engineering, construction and maintenance of
5 buildings, utility support systems and equipment designated
6 for such purposes and the establishment and maintenance of
7 centralized support services within such facilities; and the
8 making of grants or loans to units of local government for
9 Urban Development Action Grant and Housing Partnership
10 programs.
11 (c) $521,128,600 for the development and improvement of
12 educational, scientific, technical and vocational programs
13 and facilities and the expansion of health and human services
14 for all citizens of Illinois, including: the making of
15 construction and improvement grants and loans to public
16 libraries and library systems; the making of grants and loans
17 for planning, engineering, acquisition and construction of a
18 new State central library in Springfield; the planning,
19 engineering, acquisition and construction of an animal and
20 dairy sciences facility; the planning, engineering,
21 acquisition and construction of a campus and all related
22 buildings, facilities, equipment and materials for Richland
23 Community College; the acquisition, rehabilitation and
24 installation of equipment and materials for scientific and
25 historical surveys; the making of grants or loans for
26 distribution to eligible vocational education instructional
27 programs for the upgrading of vocational education programs,
28 school shops and laboratories, including the acquisition,
29 rehabilitation and installation of technical equipment and
30 materials; the making of grants or loans for distribution to
31 eligible local educational agencies for the upgrading of math
32 and science instructional programs, including the acquisition
33 of instructional equipment and materials; miscellaneous
34 capital improvements for universities and community colleges
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1 including the planning, engineering, construction,
2 reconstruction, remodeling, improvement, repair and
3 installation of capital facilities and costs of planning,
4 supplies, equipment, materials, services, and all other
5 required expenses; the making of grants or loans for repair,
6 renovation and miscellaneous capital improvements for
7 privately operated colleges and universities and community
8 colleges, including the planning, engineering, acquisition,
9 construction, reconstruction, remodeling, improvement, repair
10 and installation of capital facilities and costs of planning,
11 supplies, equipment, materials, services, and all other
12 required expenses; and the making of grants or loans for
13 distribution to local governments for hospital and other
14 health care facilities including the planning, engineering,
15 acquisition, construction, reconstruction, remodeling,
16 improvement, repair and installation of capital facilities
17 and costs of planning, supplies, equipment, materials,
18 services and all other required expenses.
19 (d) $128,650,900 for protection, preservation,
20 restoration and conservation of environmental and natural
21 resources, including: the making of grants to soil and water
22 conservation districts for the planning and implementation of
23 conservation practices and for funding contracts with the
24 Soil Conservation Service for watershed planning; the making
25 of grants to units of local government for the capital
26 development and improvement of recreation areas, including
27 planning and engineering costs, sewer projects, including
28 planning and engineering costs and water projects, including
29 planning and engineering costs, and for the acquisition of
30 open space lands, including the acquisition of easements and
31 other property interests of less than fee simple ownership;
32 the acquisition and related costs and development and
33 management of natural heritage lands, including natural areas
34 and areas providing habitat for endangered species and
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1 nongame wildlife, and buffer area lands; the acquisition and
2 related costs and development and management of habitat
3 lands, including forest, wildlife habitat and wetlands; and
4 the removal and disposition of hazardous substances,
5 including the cost of project management, equipment,
6 laboratory analysis, and contractual services necessary for
7 preventative and corrective actions related to the
8 preservation, restoration and conservation of the
9 environment, including deposits not to exceed $60,000,000 in
10 the aggregate into the Hazardous Waste Fund and the
11 Brownfields Redevelopment Fund for improvements in accordance
12 with the provisions of Titles V and XVII of the Environmental
13 Protection Act.
14 (e) The amount specified in paragraph (a) above shall
15 include an amount necessary to pay reasonable expenses of
16 each issuance and sale of the Bonds, as specified in the
17 related Bond Sale Order (hereinafter defined).
18 (f) Any unexpended proceeds from any sale of Bonds which
19 are held in the Build Illinois Bond Fund may be used to
20 redeem, purchase, advance refund, or defease any Bonds
21 outstanding.
22 (Source: P.A. 91-39, eff. 6-15-99; 91-53, eff. 6-30-99.)
23 Section 99. Effective date. This Act takes effect
24 immediately upon becoming law.