Illinois General Assembly - Full Text of HB0750
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Full Text of HB0750  99th General Assembly



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1    AN ACT concerning local government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Regional Transportation Authority Act is
5amended by changing Section 3A.09 as follows:
6    (70 ILCS 3615/3A.09)  (from Ch. 111 2/3, par. 703A.09)
7    Sec. 3A.09. General Powers. In addition to any powers
8elsewhere provided to the Suburban Bus Board, it shall have all
9of the powers specified in Section 2.20 of this Act except for
10the powers specified in Section 2.20(a)(v). The Board shall
11also have the power:
12        (a) to cooperate with the Regional Transportation
13    Authority in the exercise by the Regional Transportation
14    Authority of all the powers granted it by such Act;
15        (b) to receive funds from the Regional Transportation
16    Authority pursuant to Sections 2.02, 4.01, 4.02, 4.09 and
17    4.10 of the Regional Transportation Authority Act, all as
18    provided in the Regional Transportation Authority Act;
19        (c) to receive financial grants from the Regional
20    Transportation Authority or a Service Board, as defined in
21    the Regional Transportation Authority Act, upon such terms
22    and conditions as shall be set forth in a grant contract
23    between either the Division and the Regional



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1    Transportation Authority or the Division and another
2    Service Board, which contract or agreement may be for such
3    number of years or duration as the parties agree, all as
4    provided in the Regional Transportation Authority Act;
5        (d) to perform all functions necessary for the
6    provision of paratransit services under Section 2.30 of
7    this Act; and
8        (e) to borrow money for the purposes of: (i)
9    constructing a new garage in the northwestern Cook County
10    suburbs at an estimated cost of $60,000,000, (ii)
11    converting the South Cook garage in Markham to a Compressed
12    Natural Gas facility at an estimated cost of $12,000,000,
13    (iii) constructing a new paratransit garage in DuPage
14    County at an estimated cost of $25,000,000, and (iv)
15    expanding the North Shore garage in Evanston to accommodate
16    additional indoor bus parking, and (v) purchasing new
17    transit buses at an estimated cost of $3,000,000. For the
18    purpose of evidencing the obligation of the Suburban Bus
19    Board to repay any money borrowed as provided in this
20    subsection, the Suburban Bus Board may issue revenue bonds
21    from time to time pursuant to ordinance adopted by the
22    Suburban Bus Board, subject to the approval of the Regional
23    Transportation Authority of each such issuance by the
24    affirmative vote of 12 of its then Directors; provided that
25    the Suburban Bus Board may not issue bonds for the purpose
26    of financing the acquisition, construction, or improvement



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1    of any facility other than those listed in this subsection
2    (e). All such bonds shall be payable solely from the
3    revenues or income or any other funds that the Suburban Bus
4    Board may receive, provided that the Suburban Bus Board may
5    not pledge as security for such bonds the moneys, if any,
6    that the Suburban Bus Board receives from the Regional
7    Transportation Authority pursuant to Section 4.03.3(f) of
8    the Regional Transportation Authority Act. The bonds shall
9    bear interest at a rate not to exceed the maximum rate
10    authorized by the Bond Authorization Act and shall mature
11    at such time or times not exceeding 25 years from their
12    respective dates. Bonds issued pursuant to this paragraph
13    must be issued with scheduled principal or mandatory
14    redemption payments in equal amounts in each fiscal year
15    over the term of the bonds, with the first principal or
16    mandatory redemption payment scheduled within the fiscal
17    year in which bonds are issued or within the next
18    succeeding fiscal year. At least 25%, based on total
19    principal amount, of all bonds authorized pursuant to this
20    Section shall be sold pursuant to notice of sale and public
21    bid. No more than 75%, based on total principal amount, of
22    all bonds authorized pursuant to this Section shall be sold
23    by negotiated sale. The maximum principal amount of the
24    bonds that may be issued may not exceed $100,000,000. The
25    bonds shall have all the qualities of negotiable
26    instruments under the laws of this State. To secure the



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1    payment of any or all of such bonds and for the purpose of
2    setting forth the covenants and undertakings of the
3    Suburban Bus Board in connection with the issuance thereof
4    and the issuance of any additional bonds payable from such
5    revenue or income as well as the use and application of the
6    revenue or income received by the Suburban Bus Board, the
7    Suburban Bus Board may execute and deliver a trust
8    agreement or agreements; provided that no lien upon any
9    physical property of the Suburban Bus Board shall be
10    created thereby. A remedy for any breach or default of the
11    terms of any such trust agreement by the Suburban Bus Board
12    may be by mandamus proceedings in any court of competent
13    jurisdiction to compel performance and compliance
14    therewith, but the trust agreement may prescribe by whom or
15    on whose behalf such action may be instituted. Under no
16    circumstances shall any bonds issued by the Suburban Bus
17    Board or any other obligation of the Suburban Bus Board in
18    connection with the issuance of such bonds be or become an
19    indebtedness or obligation of the State of Illinois, the
20    Regional Transportation Authority, or any other political
21    subdivision of or municipality within the State, nor shall
22    any such bonds or obligations be or become an indebtedness
23    of the Suburban Bus Board within the purview of any
24    constitutional limitation or provision, and it shall be
25    plainly stated on the face of each bond that it does not
26    constitute such an indebtedness or obligation but is



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1    payable solely from the revenues or income as aforesaid.
2(Source: P.A. 97-770, eff. 1-1-13.)
3    Section 99. Effective date. This Act takes effect upon
4becoming law.