Sen. Dave Syverson

Filed: 10/15/2009

 

 


 

 


 
09600SB2188sam001 LRB096 11506 HLH 29822 a

1
AMENDMENT TO SENATE BILL 2188

2     AMENDMENT NO. ______. Amend Senate Bill 2188 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Local Government Debt Reform Act is amended
5 by changing Section 17.5 as follows:
 
6     (30 ILCS 350/17.5)
7     Sec. 17.5. Bond authorization by referendum.
8     (a) Whenever applicable law provides that the
9 authorization of or the issuance of bonds is subject to either
10 a referendum or backdoor referendum, the approval, once
11 obtained, remains (i) for 5 years after the date of the
12 referendum or (ii) for 3 years after the end of the petition
13 period for a backdoor referendum. However, whenever the
14 applicable law provides that the authorization of or the
15 issuance of bonds under the Water Pollution Control Loan
16 Program or the Public Water Supply Loan Program, under Title

 

 

09600SB2188sam001 - 2 - LRB096 11506 HLH 29822 a

1 IV-A of the Environmental Protection Act, is subject to either
2 a referendum or backdoor referendum, the approval, once
3 obtained, remains (i) for 7 years after the date of the
4 referendum or (ii) for 5 years after the end of the petition
5 period for a backdoor referendum.
6     (b) With respect to any bond approval under subsection (a),
7 if, for any reason, the bonds are not issued because of a court
8 action, then the time limits set forth under subsection (a) for
9 the approval for the bonds is tolled during the time that the
10 court action is pending. This subsection (b) applies to any
11 bond issuance approved by referendum held on or after January
12 1, 2003 or by a backdoor referendum held on or after January 1,
13 2005.
14 (Source: P.A. 95-517, eff. 8-28-07.)
 
15     Section 99. Effective date. This Act takes effect upon
16 becoming law.".