Full Text of HB4802 96th General Assembly
HB4802enr 96TH GENERAL ASSEMBLY
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HB4802 Enrolled |
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LRB096 17087 RLJ 32409 b |
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Metropolitan Water Reclamation District Act | 5 |
| is amended by changing Section 9.6a as follows:
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| (70 ILCS 2605/9.6a) (from Ch. 42, par. 328.6a)
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| Sec. 9.6a. Bonds for sewage treatment and water quality | 8 |
| improvements. The corporate authorities of a sanitary | 9 |
| district, in
order to provide funds required for the replacing, | 10 |
| remodeling,
completing, altering, constructing and enlarging | 11 |
| of sewage treatment
works, water quality improvement projects, | 12 |
| or flood control facilities, and additions therefor, pumping
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| stations, tunnels, conduits, intercepting sewers and outlet | 14 |
| sewers,
together with the equipment, including air pollution | 15 |
| equipment, and
appurtenances thereto, to acquire property, | 16 |
| real, personal or mixed,
necessary for said purposes, for costs | 17 |
| and expenses for the acquisition
of the sites and rights-of-way | 18 |
| necessary thereto, and for engineering
expenses for designing | 19 |
| and supervising the construction of such works,
may issue on or | 20 |
| before December 31, 2024 December 31, 2016 , in addition to all
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| other obligations heretofore or herein authorized, bonds, | 22 |
| notes or
other evidences of indebtedness for such purposes in | 23 |
| an aggregate
amount at any one time outstanding not to exceed |
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HB4802 Enrolled |
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LRB096 17087 RLJ 32409 b |
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| 3.35% of the equalized
assessed valuation of all taxable | 2 |
| property within the sanitary district,
to be ascertained by the | 3 |
| last assessment for State and local taxes
previous to the | 4 |
| issuance of any such obligations. Such obligations shall be
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| issued without submitting the question of such issuance to the | 6 |
| legal voters
of such sanitary district for approval.
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| The corporate authorities may sell such obligations at | 8 |
| private or
public sale and enter into any contract or agreement | 9 |
| necessary, appropriate
or incidental to the exercise of the | 10 |
| powers granted by this Act, including,
without limitation, | 11 |
| contracts or agreements for the sale and purchase of
such | 12 |
| obligations and the payment of costs and expenses incident | 13 |
| thereto.
The corporate authorities may pay such costs and | 14 |
| expenses, in whole or in
part, from the corporate fund.
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| Such obligations shall be issued from time to time only in | 16 |
| amounts as may
be required for such purposes but the amount of | 17 |
| such obligations issued during
any one budget year shall not | 18 |
| exceed $150,000,000 plus
the amount of any obligations | 19 |
| authorized by this Act to be issued during the 3
budget years | 20 |
| next preceding the year of issuance but which were not issued,
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| provided, however, that this limitation shall not be applicable | 22 |
| (i) to the issuance
of obligations to refund bonds, notes or | 23 |
| other evidences of indebtedness,
(ii) to obligations issued to | 24 |
| provide for the repayment of money received
from the Water | 25 |
| Pollution Control Revolving Fund for the construction or
repair | 26 |
| of wastewater treatment works, and (iii) to obligations issued |
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HB4802 Enrolled |
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LRB096 17087 RLJ 32409 b |
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| as part of the American Recovery and Reinvestment Act of 2009, | 2 |
| issued prior to January 1, 2011, that are commonly known as | 3 |
| "Build America Bonds" as authorized by Section 54AA of the | 4 |
| Internal Revenue Code of 1986, as amended. Each ordinance | 5 |
| authorizing the
issuance of the obligations shall state the | 6 |
| general purpose or purposes for
which they are to be issued, | 7 |
| and the corporate authorities may at any time
thereafter pass | 8 |
| supplemental appropriations ordinances appropriating the
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| proceeds from the sale of such obligations for such purposes.
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| The corporate authorities may issue bonds, notes or other | 11 |
| evidences of
indebtedness in an amount necessary to provide | 12 |
| funds to refund outstanding
obligations issued pursuant to this | 13 |
| Section, including interest accrued or
to accrue thereon.
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| (Source: P.A. 95-125, eff. 8-13-07; 95-412, eff. 8-24-07; | 15 |
| 96-828, eff. 12-2-09.)
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