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92nd General Assembly

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Public Act 92-0598

HB4581 Enrolled                                LRB9214005REmb

    AN ACT concerning bonds.

    Be it enacted by the People of  the  State  of  Illinois,
represented in the General Assembly:

                          ARTICLE 1

    Section 5.  The General Obligation Bond Act is amended by
changing Sections 2, 3, 5 and 6 as follows:


    (30 ILCS 330/2) (from Ch. 127, par. 652)
    Sec.  2.  Authorization for Bonds.  The State of Illinois
is authorized to issue, sell and provide for  the  retirement
of  General Obligation Bonds of the State of Illinois for the
categories and specific  purposes  expressed  in  Sections  2
through 8 of this Act, in the total amount of $16,908,149,369
$15,265,007,500.
    The  bonds authorized in this Section 2 and in Section 16
of this Act are herein called "Bonds".
    Of the total amount of Bonds authorized in this  Act,  up
to  $2,200,000,000 in aggregate original principal amount may
be issued and  sold  in  accordance  with  the  Baccalaureate
Savings Act in the form of General Obligation College Savings
Bonds.
    Of  the  total amount of Bonds authorized in this Act, up
to $300,000,000 in aggregate original principal amount may be
issued and sold in accordance with the Retirement Savings Act
in the form of General Obligation Retirement Savings Bonds.
    The issuance and sale of Bonds pursuant  to  the  General
Obligation  Bond Act is an economical and efficient method of
financing the capital needs of  the  State.   This  Act  will
permit  the  issuance  of  a multi-purpose General Obligation
Bond with uniform terms and features.   This  will  not  only
lower  the  cost  of registration but also reduce the overall
cost of  issuing  debt  by  improving  the  marketability  of
Illinois General Obligation Bonds.
(Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff  6-30-99;
91-710, eff. 5-17-00; 92-13, eff. 6-22-01.)

    (30 ILCS 330/3) (from Ch. 127, par. 653)
    Sec.  3. Capital Facilities. The amount of $7,320,235,369
$6,626,093,492 is authorized to be used for the  acquisition,
development,   construction,   reconstruction,   improvement,
financing, architectural planning and installation of capital
facilities   within   the  State,  consisting  of  buildings,
structures, durable equipment, land, and  interests  in  land
for the following specific purposes:
         (a)  $2,211,228,000  $1,880,077,346  for educational
    purposes by State universities and colleges, the Illinois
    Community College Board created by the  Public  Community
    College  Act  and for grants to public community colleges
    as authorized by Sections 5-11 and  5-12  of  the  Public
    Community College Act;
         (b)  $1,607,420,000  $1,584,450,168 for correctional
    purposes at State prison and correctional centers;
         (c)  $531,175,000  $496,685,786  for  open   spaces,
    recreational and conservation purposes and the protection
    of land;
         (d)  $589,917,000   $556,926,486   for   child  care
    facilities, mental  and  public  health  facilities,  and
    facilities  for  the  care of disabled veterans and their
    spouses;
         (e)  $1,455,990,000 $1,290,153,341 for  use  by  the
    State, its departments, authorities, public corporations,
    commissions and agencies;
         (f)  $818,100  for cargo handling facilities at port
    districts   and   for   breakwaters,   including   harbor
    entrances,  at  port  districts   in   conjunction   with
    facilities for small boats and pleasure crafts;
         (g)  $204,657,000  $198,657,796  for  water resource
    management projects;
         (h)  $16,940,269 for the provision of facilities for
    food production research and  related  instructional  and
    public  service  activities at the State universities and
    public community colleges;
         (i)  $36,000,000 for  grants  by  the  Secretary  of
    State, as State Librarian, for central library facilities
    authorized  by  Section  8 of the Illinois Library System
    Act and for grants by the Capital  Development  Board  to
    units of local government for public library facilities;
         (j)  $25,000,000  for  the acquisition, development,
    construction,  reconstruction,  improvement,   financing,
    architectural   planning   and  installation  of  capital
    facilities consisting of buildings,  structures,  durable
    equipment and land for grants to counties, municipalities
    or   public   building   commissions   with  correctional
    facilities that do not comply with the minimum  standards
    of  the Department of Corrections under Section 3-15-2 of
    the Unified Code of Corrections;
         (k)  $5,000,000 for grants in fiscal  year  1988  by
    the   Department   of  Conservation  for  improvement  or
    expansion of  aquarium  facilities  located  on  property
    owned by a park district;
         (l)  $432,590,000 $367,584,200 to State agencies for
    grants   to   local   governments  for  the  acquisition,
    financing,    architectural    planning,     development,
    alteration,  installation,  and  construction  of capital
    facilities consisting of buildings,  structures,  durable
    equipment, and land; and
         (m)  $203,500,000 $167,800,000 for the Illinois Open
    Land  Trust  Program as defined by the Illinois Open Land
    Trust Act.
    The amounts authorized above for capital  facilities  may
be   used  for  the  acquisition,  installation,  alteration,
construction, or reconstruction of capital facilities and for
the purchase of equipment for the purpose  of  major  capital
improvements  which  will  reduce energy consumption in State
buildings or facilities.
(Source: P.A. 91-39, 6-15-99; 91-53,  eff.  6-30-99;  91-710,
eff. 5-17-00; 92-13, eff. 6-22-01.)

    (30 ILCS 330/5) (from Ch. 127, par. 655)
    Sec. 5.  School Construction.
    (a)  The  amount  of  $58,450,000  is  authorized to make
grants  to  local  school  districts  for  the   acquisition,
development,  construction,  reconstruction,  rehabilitation,
improvement,    financing,    architectural    planning   and
installation of capital facilities, including but not limited
to those required for  special  education  building  projects
provided  for in Article 14 of The School Code, consisting of
buildings, structures, and durable  equipment,  and  for  the
acquisition and improvement of real property and interests in
real  property  required,  or  expected  to  be  required, in
connection therewith.
    (b)  $22,550,000, or so much thereof as may be necessary,
for grants to school districts for the  making  of  principal
and  interest  payments, required to be made, on bonds issued
by such school districts after January 1, 1969,  pursuant  to
any  indenture,  ordinance, resolution, agreement or contract
to  provide   funds   for   the   acquisition,   development,
construction,  reconstruction,  rehabilitation,  improvement,
architectural planning and installation of capital facilities
consisting  of  buildings,  structures, durable equipment and
land for educational purposes or for lease payments  required
to  be  made  by a school district for principal and interest
payments on bonds issued  by  a  Public  Building  Commission
after January 1, 1969.
    (c)  $10,000,000  for  grants to school districts for the
acquisition,   development,   construction,   reconstruction,
rehabilitation,  improvement,  architectural   planning   and
installation  of  capital  facilities consisting of buildings
structures, durable equipment and land for special  education
building projects.
    (d)  $9,000,000  for  grants  to school districts for the
reconstruction, rehabilitation,  improvement,  financing  and
architectural   planning  of  capital  facilities,  including
construction at another  location  to  replace  such  capital
facilities,  consisting  of those public school buildings and
temporary school facilities which, prior to January 1,  1984,
were  condemned  by the regional superintendent under Section
3-14.22 of The School Code or by any  State  official  having
jurisdiction over building safety.
    (e)  $3,050,000,000  $2,120,000,000  for grants to school
districts for school improvement projects authorized  by  the
School  Construction Law.  The bonds shall be sold in amounts
not to exceed the following schedule, except  any  bonds  not
sold  during  one year shall be added to the bonds to be sold
during the remainder of the schedule:
    First year...................................$200,000,000
    Second year..................................$450,000,000
    Third year...................................$500,000,000
    Fourth year..................................$500,000,000
    Fifth year.......................$800,000,000 300,000,000
    Sixth year and thereafter........$600,000,000 170,000,000
(Source: P.A. 90-549, eff. 12-8-97; 91-39, eff. 6-15-99.)

    (30 ILCS 330/6) (from Ch. 127, par. 656)
    Sec. 6.  Anti-Pollution.
    (a)  The   amount   of   $300,815,000   $281,815,000   is
authorized for allocation  by  the  Environmental  Protection
Agency  for  grants  or loans to units of local government in
such amounts, at such times  and  for  such  purpose  as  the
Agency   deems  necessary  or  desirable  for  the  planning,
financing, and construction  of  municipal  sewage  treatment
works  and  solid waste disposal facilities and for making of
deposits  into  the  Water  Revolving  Fund  and   the   U.S.
Environmental   Protection  Fund  to  provide  assistance  in
accordance  with  the  provisions  of  Title  IV-A   of   the
Environmental Protection Act.
    (b)  The   amount   of  $160,500,000  is  authorized  for
allocation by the Environmental Protection Agency for payment
of claims submitted to the State  and  approved  for  payment
under   the   Leaking   Underground   Storage   Tank  Program
established in Title XVI of the Environmental Protection Act.
(Source: P.A. 91-39,  eff.  6-15-99;  91-710,  eff.  5-17-00;
92-13, eff. 6-22-01.)

                          ARTICLE 2

    Section  5.  The  Build  Illinois  Bond Act is amended by
changing Sections 2 and 4 as follows:

    (30 ILCS 425/2) (from Ch. 127, par. 2802)
    Sec. 2.  Authorization for Bonds.  The State of  Illinois
is  authorized  to issue, sell and provide for the retirement
of limited obligation bonds, notes  and  other  evidences  of
indebtedness  of the State of Illinois in the total principal
amount  of  $3,805,509,000   $3,540,715,000   herein   called
"Bonds".   Such  authorized  amount of Bonds shall be reduced
from time to time by amounts, if any, which are equal to  the
moneys  received  by  the Department of Revenue in any fiscal
year pursuant to Section  3-1001  of  the  "Illinois  Vehicle
Code",  as  amended, in excess of the Annual Specified Amount
(as defined in Section 3 of the  "Retailers'  Occupation  Tax
Act",  as  amended) and transferred at the end of such fiscal
year from the General Revenue  Fund  to  the  Build  Illinois
Purposes  Fund  as  provided  in Section 3-1001 of said Code;
provided, however, that no such reduction  shall  affect  the
validity  or enforceability of any Bonds issued prior to such
reduction.   Such  amount  of  authorized  Bonds   shall   be
exclusive  of  any refunding Bonds issued pursuant to Section
15 of this Act and exclusive of any Bonds issued pursuant  to
this Section which are redeemed, purchased, advance refunded,
or  defeased in accordance with paragraph (f) of Section 4 of
this Act.  Bonds shall  be  issued  for  the  categories  and
specific purposes expressed in Section 4 of this Act.
(Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff. 6-30-99;
91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)

    (30 ILCS 425/4) (from Ch. 127, par. 2804)
    Sec. 4. Purposes of Bonds.  Bonds shall be issued for the
following purposes and in  the  approximate  amounts  as  set
forth below:
    (a)  $2,417,000,000  $2,399,954,000  for  the expenses of
issuance and sale of Bonds, including bond discounts, and for
planning,     engineering,     acquisition,     construction,
reconstruction, development, improvement and extension of the
public infrastructure in the State  of  Illinois,  including:
the  making of loans or grants to local governments for waste
disposal systems, water and sewer line extensions  and  water
distribution  and  purification  facilities,  rail  or air or
water port improvements, gas and electric utility extensions,
publicly owned industrial  and  commercial  sites,  buildings
used  for  public  administration  purposes  and other public
infrastructure capital improvements; the making of  loans  or
grants  to  units  of  local  government  for  financing  and
construction   of   wastewater   facilities;  refinancing  or
retiring bonds issued between January 1, 1987 and January  1,
1990  by  home  rule municipalities, debt service on which is
provided from a tax imposed by home rule municipalities prior
to January 1, 1990 on the sale of food and drugs pursuant  to
Section   8-11-1   of  the  Home  Rule  Municipal  Retailers'
Occupation Tax  Act  or  Section  8-11-5  of  the  Home  Rule
Municipal  Service Occupation Tax Act; the making of deposits
not to exceed $70,000,000 in the  aggregate  into  the  Water
Pollution  Control  Revolving  Fund  to provide assistance in
accordance  with  the  provisions  of  Title  IV-A   of   the
Environmental  Protection  Act;  the  planning,  engineering,
acquisition,    construction,   reconstruction,   alteration,
expansion, extension and improvement  of  highways,  bridges,
structures  separating  highways  and  railroads, rest areas,
interchanges, access roads to and from  any  State  or  local
highway  and  other transportation improvement projects which
are related to economic development activities; the making of
loans or grants for  planning,  engineering,  rehabilitation,
improvement  or  construction of rail and transit facilities;
the   planning,   engineering,   acquisition,   construction,
reconstruction and improvement of watershed, drainage,  flood
control,  recreation and related improvements and facilities,
including expenses related to land and easement  acquisition,
relocation, control structures, channel work and clearing and
appurtenant  work;  the  making of grants for improvement and
development of  zoos  and  park  district  field  houses  and
related  structures; and the making of grants for improvement
and development of Navy Pier and related structures.
    (b)  $186,000,000  $139,301,500  for  fostering  economic
development and increased employment and the  well  being  of
the citizens of Illinois, including: the making of grants for
improvement  and  development  of McCormick Place and related
structures;   the   planning   and    construction    of    a
microelectronics  research  center,  including  the planning,
engineering,  construction,   improvement,   renovation   and
acquisition  of  buildings,  equipment  and  related  utility
support  systems;  the  making  of  loans  to  businesses and
investments in small businesses;  acquiring  real  properties
for  industrial  or  commercial  site development; acquiring,
rehabilitating  and  reconveying  industrial  and  commercial
properties  for  the  purpose  of  expanding  employment  and
encouraging private and other public sector investment in the
economy of Illinois; the payment of expenses associated  with
siting    the   Superconducting   Super   Collider   Particle
Accelerator   in   Illinois   and   with   its   acquisition,
construction, maintenance, operation, promotion and  support;
the   making   of   loans   for  the  planning,  engineering,
acquisition,  construction,  improvement  and  conversion  of
facilities  and  equipment  which  will  foster  the  use  of
Illinois coal; the payment of expenses  associated  with  the
promotion,  establishment, acquisition and operation of small
business  incubator  facilities  and  agribusiness   research
facilities,   including   the  lease,  purchase,  renovation,
planning,  engineering,  construction  and   maintenance   of
buildings,  utility  support systems and equipment designated
for such purposes and the establishment  and  maintenance  of
centralized  support services within such facilities; and the
making of grants or loans to units of  local  government  for
Urban   Development  Action  Grant  and  Housing  Partnership
programs.
    (c)  $1,052,358,100 $851,308,600 for the development  and
improvement   of   educational,   scientific,  technical  and
vocational programs  and  facilities  and  the  expansion  of
health  and  human  services  for  all  citizens of Illinois,
including: the making of construction and improvement  grants
and loans to public libraries and library systems; the making
of  grants  and  loans for planning, engineering, acquisition
and  construction  of  a  new  State   central   library   in
Springfield;   the  planning,  engineering,  acquisition  and
construction of an animal and dairy  sciences  facility;  the
planning,  engineering,  acquisition  and  construction  of a
campus and all related buildings, facilities,  equipment  and
materials  for  Richland  Community College; the acquisition,
rehabilitation and installation of  equipment  and  materials
for  scientific  and historical surveys; the making of grants
or loans for distribution to  eligible  vocational  education
instructional   programs  for  the  upgrading  of  vocational
education programs, school shops and laboratories,  including
the acquisition, rehabilitation and installation of technical
equipment  and  materials;  the making of grants or loans for
distribution to eligible local educational agencies  for  the
upgrading   of   math  and  science  instructional  programs,
including the  acquisition  of  instructional  equipment  and
materials;    miscellaneous    capital    improvements    for
universities  and  community colleges including the planning,
engineering,   construction,   reconstruction,    remodeling,
improvement,  repair  and  installation of capital facilities
and  costs  of  planning,  supplies,  equipment,   materials,
services,  and  all  other  required  expenses; the making of
grants or loans  for  repair,  renovation  and  miscellaneous
capital  improvements  for  privately  operated  colleges and
universities and community colleges, including the  planning,
engineering,   acquisition,   construction,   reconstruction,
remodeling,  improvement,  repair and installation of capital
facilities  and  costs  of  planning,  supplies,   equipment,
materials, services, and all other required expenses; and the
making   of   grants  or  loans  for  distribution  to  local
governments for hospital and  other  health  care  facilities
including    the    planning,    engineering,    acquisition,
construction, reconstruction, remodeling, improvement, repair
and installation of capital facilities and costs of planning,
supplies,   equipment,  materials,  services  and  all  other
required expenses.
    (d)  $150,150,900    for    protection,     preservation,
restoration  and  conservation  of  environmental and natural
resources, including: the making of grants to soil and  water
conservation districts for the planning and implementation of
conservation  practices  and  for  funding contracts with the
Soil Conservation Service for watershed planning; the  making
of  grants  to  units  of  local  government  for the capital
development and improvement of  recreation  areas,  including
planning  and  engineering  costs,  sewer projects, including
planning and engineering costs and water projects,  including
planning  and  engineering  costs, and for the acquisition of
open space lands, including the acquisition of easements  and
other  property  interests of less than fee simple ownership;
the  acquisition  and  related  costs  and  development   and
management of natural heritage lands, including natural areas
and  areas  providing  habitat  for  endangered  species  and
nongame  wildlife, and buffer area lands; the acquisition and
related costs  and  development  and  management  of  habitat
lands,  including  forest, wildlife habitat and wetlands; and
the  removal  and  disposition   of   hazardous   substances,
including   the   cost   of  project  management,  equipment,
laboratory analysis, and contractual services  necessary  for
preventative   and   corrective   actions   related   to  the
preservation,   restoration   and   conservation    of    the
environment,  including deposits not to exceed $60,000,000 in
the  aggregate  into  the  Hazardous  Waste  Fund   and   the
Brownfields Redevelopment Fund for improvements in accordance
with the provisions of Titles V and XVII of the Environmental
Protection Act.
    (e)  The  amount  specified  in paragraph (a) above shall
include an amount necessary to  pay  reasonable  expenses  of
each  issuance  and  sale  of  the Bonds, as specified in the
related Bond Sale Order (hereinafter defined).
    (f)  Any unexpended proceeds from any sale of Bonds which
are held in the Build Illinois  Bond  Fund  may  be  used  to
redeem,  purchase,  advance  refund,  or  defease  any  Bonds
outstanding.
(Source:  P.A.  91-39,  eff.  6-15-99;  91-53,  eff. 6-30-99;
91-709, eff. 5-17-00; 92-9, eff. 6-11-01.)

    Section 99.  Effective date.  This Act takes effect  upon
becoming law.
    Passed in the General Assembly June 02, 2002.
    Approved June 28, 2002.
    Effective June 28, 2002.

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