Full Text of SB1900 102nd General Assembly
SB1900sam001 102ND GENERAL ASSEMBLY | Sen. John F. Curran Filed: 2/7/2022
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| 1 | | AMENDMENT TO SENATE BILL 1900
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1900 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Article 1. Purpose; Authority | 5 | | Section 1-1. Short title. This Act may be cited as the | 6 | | Public-Private Partnerships Act. | 7 | | Section 1-5. Legislative findings and declarations. | 8 | | (a) It is hereby found and declared that it is the public | 9 | | policy and the public purpose of the State of Illinois to | 10 | | promote the development, financing, providing of services, and | 11 | | operation of facilities that serve the needs of the public. | 12 | | (b) It is hereby found and declared that there are | 13 | | inadequate public resources to develop, modernize, refurbish | 14 | | and maintain Illinois public infrastructure and services in a | 15 | | timely and cost-effective manner, and that such need is |
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| 1 | | impeded by existing methods of procurement and funding. | 2 | | (c) It is hereby found and declared that authorizing | 3 | | private entities to do all or part of the development, | 4 | | planning, design, construction, maintenance, repair, | 5 | | rehabilitation, expansion, financing, and operation of one or | 6 | | more facilities, and provide services, can result in the | 7 | | availability of facilities and services to the public in a | 8 | | more timely, more efficient, or less costly fashion, thereby | 9 | | serving the public safety and welfare. When properly planned | 10 | | and structured, public-private partnerships and unsolicited | 11 | | proposals can help meet such needs by improving the schedule | 12 | | for delivery, lowering cost, and providing additional funding. | 13 | | Obtaining private sector financing using a P3 model leverages | 14 | | resources to meet the demand for new infrastructure and | 15 | | services in the State of Illinois. Pension funds, private | 16 | | investors, developers, contractors and other private entities | 17 | | through a public-private partnership can use long-term | 18 | | financing to invest in public infrastructure and services and | 19 | | further use their private expertise in construction, | 20 | | design-build, management and oversight, project life-cycle | 21 | | planning and other areas of expertise not employed by public | 22 | | entities. Private capital invested in infrastructure and | 23 | | service investments have the potential to generate stable | 24 | | long-term returns while ensuring public infrastructure and | 25 | | services are progressively maintained to benefit Illinois | 26 | | residents. Pension funds and insurance companies seek |
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| 1 | | investments to match their long-term liabilities. | 2 | | (d) It is hereby found and declared that citizens have a | 3 | | right to transparency and public accountability, including | 4 | | dissemination of information about the public benefits of P3 | 5 | | projects, and open, equitable, transparent, proactive and | 6 | | effective communications with the public achieved through | 7 | | consistent communication activities that recognize the | 8 | | respective contributions of the responsible public entity and | 9 | | the partnering private entity. | 10 | | (e) It is hereby found and declared that public-private | 11 | | agreements entered into by private entities and responsible | 12 | | public entities under this Act shall allow for: | 13 | | (1) transparency, oversight, and public information | 14 | | sharing; | 15 | | (2) compliance with all State of Illinois and federal | 16 | | environmental laws; | 17 | | (3) fairness for local jurisdictions when negotiating | 18 | | the public-private agreements; | 19 | | (4) public-sector access to new revenue sources; | 20 | | (5) new service delivery capacity; | 21 | | (6) optimal sharing of risk based upon P3 best | 22 | | practice, industry feedback, relevant project precedents | 23 | | and prevailing market conditions; | 24 | | (7) cost and schedule certainty; and | 25 | | (8) predicted service quality, performance, innovation | 26 | | and whole-of-life asset management. |
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| 1 | | Section 1-10. Actions serving a public purpose. Actions | 2 | | pursuant to the Act serve the public purposes of this Act if | 3 | | such actions facilitate the timely development, planning, | 4 | | design, construction, maintenance, repair, rehabilitation, | 5 | | expansion, financing, or operation of a qualifying project. | 6 | | Section 1-15. Intent of Act. It is the intent of this Act | 7 | | to: | 8 | | (a) authorize responsible public entities to develop and | 9 | | enter into public-private partnership agreements for | 10 | | qualifying projects which result in the availability of such | 11 | | projects to the public in a timely and less costly fashion, | 12 | | thereby serving the public safety, benefit, and welfare; | 13 | | (b) permit responsible public entities to receive and | 14 | | consider unsolicited proposals from private sector parties in | 15 | | a manner that eliminates the perception of bias; ensures | 16 | | transparency, fairness, and best value for the responsible | 17 | | public entity; and brings innovative concepts and ideas to | 18 | | benefit responsible public entities; | 19 | | (c) grant public and private entities the greatest | 20 | | possible flexibility in contracting with each other for the | 21 | | provision of infrastructure and public services; | 22 | | (d) encourage investment in the State of Illinois by | 23 | | private entities that facilitates services and the | 24 | | development, planning, design, construction, maintenance, |
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| 1 | | repair, rehabilitation, expansion, financing, and operation of | 2 | | facilities; | 3 | | (e) establish an Infrastructure Investment Commission that | 4 | | focuses on supporting and promoting P3 procurement models and | 5 | | unsolicited proposals that result in the construction, renewal | 6 | | or material enhancement of public services and infrastructure; | 7 | | (f) provide responsible public entities with: | 8 | | (i) best-in-class project tools, expertise, and | 9 | | resources to develop predictable procedures for developing | 10 | | P3 projects and unsolicited proposals; and | 11 | | (ii) a process to submit unsolicited proposals to | 12 | | responsible public entities that protects their | 13 | | proprietary trade information; | 14 | | (g) provide responsible public entities and private | 15 | | entities with: | 16 | | (i) clarity on the intake process, evaluation, and | 17 | | procedural aspects of unsolicited proposals; and | 18 | | (ii) a process that is short and stable resulting in a | 19 | | competitive market and lower costs; | 20 | | (h) develop a steady flow of P3 projects to benefit both | 21 | | private entities and responsible public entities; | 22 | | (i) establish transparency and accountability guidelines | 23 | | for P3 projects and unsolicited proposals; | 24 | | (j) support the use of Illinois design professionals, | 25 | | construction companies, and workers to the greatest extent | 26 | | possible by offering the right to compete for work; |
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| 1 | | (k) ensure open, equitable, transparent, proactive and | 2 | | effective communication with the public; | 3 | | (l) improve upon project development due diligence | 4 | | practices; | 5 | | (m) support the use of local, minority, women business | 6 | | enterprises and economically disadvantaged firms to the | 7 | | greatest extent possible; | 8 | | (n) create jobs and provide training for those jobs for | 9 | | minorities, women, and veterans to the greatest extent | 10 | | possible; | 11 | | (o) facilitate and encourage the use of pension funds to | 12 | | develop qualifying projects; | 13 | | (p) leverage private sector expertise and capital in | 14 | | support of efficient, innovative and timely P3 investments; | 15 | | (q) serve as a catalyst for the development of | 16 | | public-private Partnerships and unsolicited proposals in the | 17 | | State of Illinois; | 18 | | (r) authorize public-private agreements that optimally | 19 | | distribute the risk between the private and public-sector | 20 | | partners; and | 21 | | (s) support economic growth, clean air and water, a | 22 | | healthy environment and stronger communities. | 23 | | Section 1-20. Construction; authority. | 24 | | (a) The powers conferred by this Act shall be liberally | 25 | | construed to accomplish their purposes and are in addition and |
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| 1 | | supplemental to the powers conferred by any other law. If any | 2 | | other law or rule is inconsistent with this Act, this Act is | 3 | | controlling as to any public-private agreement and financing | 4 | | of any project subject to a public-private agreement entered | 5 | | into under this Act. | 6 | | (b) This Act contains full and complete authority for | 7 | | responsible public entities to enter into agreements, | 8 | | financing and leases with private entities to carry out the | 9 | | activities described in this Act. Except as provided in this | 10 | | Act, no procedure, proceeding, publication, notice, consent, | 11 | | approval, order, or act by a responsible public entity or any | 12 | | other State or local government or official is required to | 13 | | enter into an agreement or lease, and no law to the contrary | 14 | | affects, limits, or diminishes the authority for agreements | 15 | | and leases with private entities. | 16 | | (c) To the extent that this Act permits or requires a | 17 | | responsible public entity or a private entity to carry out or | 18 | | comply with any law other than this Act under a public-private | 19 | | agreement, the action shall be carried out in conformity with | 20 | | this Act. | 21 | | (d) Each responsible public entity may exercise any powers | 22 | | provided under this Act in participation or cooperation with | 23 | | any governmental entity and enter into any contracts to | 24 | | facilitate that participation or cooperation without | 25 | | compliance with any other statute. Each responsible public | 26 | | entity shall cooperate with each other and with other |
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| 1 | | governmental entities in carrying out qualifying projects | 2 | | under this Act. | 3 | | (e) A unit of local government may not take any action that | 4 | | would have the effect of impairing a public-private agreement | 5 | | under this Act, except that this Section shall not diminish | 6 | | any existing police power or other power provided by law to a | 7 | | unit of local government. | 8 | | (f) Notwithstanding any provision of law to the contrary, | 9 | | any public-private agreement entered into under a | 10 | | public-private partnership shall include a provision requiring | 11 | | any employer on the project to enter into a labor peace | 12 | | agreement with any bona fide labor organization representing, | 13 | | or attempting to represent its employees, including employees | 14 | | employed in classifications within the craft jurisdiction, or | 15 | | in classifications called by different names when performing | 16 | | similar duties. | 17 | | Section 1-25. Definitions. As used in this Act: | 18 | | "Affected jurisdiction" means the following: | 19 | | (1) Any county, municipality, township, special | 20 | | district, or unit designated as a unit of local government | 21 | | by law in which all or a part of a qualifying project is | 22 | | located. | 23 | | (2) Any other public entity directly affected by the | 24 | | qualifying project. | 25 | | "Authority" means the Illinois State Toll Highway |
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| 1 | | Authority. | 2 | | "Commercially Confidential Meetings" means bilateral | 3 | | meetings prior to the execution of a project agreement between | 4 | | the responsible public entity and private sector entities, | 5 | | along with their respective advisors, to discuss matters such | 6 | | as the project agreement and proponent's suggested amendments | 7 | | to the project agreement, project design matters, and | 8 | | innovation submissions. | 9 | | "Contractor" means a private entity that has entered into | 10 | | a public-private agreement with the responsible public entity | 11 | | to provide services to or on behalf of the responsible public | 12 | | entity. | 13 | | "Department" means the Illinois Department of | 14 | | Transportation. | 15 | | "Design-build agreement" means the agreement between the | 16 | | selected private entity and the responsible public entity | 17 | | under which the selected private entity agrees to furnish | 18 | | design, construction, and related services for a facility | 19 | | under this Act. | 20 | | "Develop" or "development" means to do one or more of the | 21 | | following: plan, design, develop, lease, acquire, install, | 22 | | construct, reconstruct, rehabilitate, extend, or expand, or | 23 | | provide any other service. | 24 | | "Employees employed in classifications within the craft | 25 | | jurisdiction" means all maintenance employees, including, but | 26 | | not limited to, stationary engineers, building engineers, |
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| 1 | | maintenance engineers, maintenance technicians, maintenance | 2 | | mechanics, mechanics, operating engineers, operators, domestic | 3 | | water operators, wastewater operators, water treatment | 4 | | technicians, and other related jobs. | 5 | | "Facility" means: | 6 | | (1) a facility or project that serves a public | 7 | | purpose, including, but not limited to, any new or | 8 | | existing local, county or State road, highway, toll | 9 | | highway, bridge, tunnel, intermodal facility; intercity or | 10 | | high-speed passenger rail; rail project or facility; ferry | 11 | | or mass transit facility; vehicle parking facility; | 12 | | regional or local airport; seaport or waterway facility; | 13 | | intelligent-transport system infrastructure or other | 14 | | transportation technology project such as transit priority | 15 | | signaling, fare collection, etc.; or other transportation | 16 | | facility or infrastructure; any administrative facility | 17 | | broadband-related project or facility; correctional | 18 | | institution or facility; disaster mitigation facility; | 19 | | green-energy related project or facility; energy-related | 20 | | project or facility; fuel supply facility, oil or gas | 21 | | pipeline; medical or nursing care facility; recreational | 22 | | facility; tourism facility; solid waste management | 23 | | facility or energy-from-waste facility; sporting or | 24 | | cultural facility; or educational facility or other | 25 | | building or facility that is used or will be used by a | 26 | | public educational institution, or any other public |
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| 1 | | facility or infrastructure or service that is used or will | 2 | | be used by the public at large or in support of an accepted | 3 | | public purpose or activity; | 4 | | (2) an improvement, including on equipment, of a | 5 | | structure that will be principally used by a public entity | 6 | | or the public at large or that supports a service delivery | 7 | | system in the public sector; or | 8 | | (3) a sanitation, water, potable water, underground | 9 | | water, wastewater, or surface water facility or other | 10 | | related infrastructure; or infrastructure in support of an | 11 | | accepted public purpose or activity. | 12 | | "Labor Peace Agreement" means an agreement between a | 13 | | licensee and any bona fide labor organization recognized under | 14 | | the National Labor Relations Act as a bona fide labor | 15 | | organization that, at a minimum, protects the State's | 16 | | proprietary interests by prohibiting labor organizations and | 17 | | members from engaging in picketing, work stoppages, boycotts, | 18 | | and any other economic interference with the applicant's | 19 | | business. This agreement means that the applicant has agreed | 20 | | not to disrupt efforts by the bona fide labor organization to | 21 | | communicate with, and attempt to organize and represent, the | 22 | | applicant's employees. The agreement shall provide a bona fide | 23 | | labor organization access at reasonable times to areas in | 24 | | which the applicant's employees work, for the purpose of | 25 | | meeting with employees to discuss their right to | 26 | | representation, employment rights under State law, and terms |
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| 1 | | and conditions of employment. This type of agreement shall not | 2 | | mandate a particular method of election or certification of | 3 | | the bona fide labor organization. | 4 | | "Maintain" or "maintenance" includes ordinary maintenance, | 5 | | repair, rehabilitation, capital maintenance, maintenance | 6 | | replacement, and any other categories of maintenance that may | 7 | | be designated by the responsible public entity. | 8 | | "Operate" or "operation" means to do one or more of the | 9 | | following: maintain, improve, equip, modify, or otherwise | 10 | | operate. | 11 | | "Private entity" means any combination of one or more | 12 | | individuals, sole proprietorships, private corporations, | 13 | | general partnerships, limited liability companies, limited | 14 | | partnerships, joint ventures, business trusts, nonprofit | 15 | | entities, or other business entities that are non-governmental | 16 | | parties to a proposal for a qualifying project or an agreement | 17 | | related to a qualifying project. A public agency may provide | 18 | | services to a contractor as a subcontractor or subconsultant | 19 | | without affecting the private status of the private entity and | 20 | | the ability to enter into a public-private agreement. | 21 | | "Project Development Fund" means a fund to assist | 22 | | responsible public entities with public-private partnership | 23 | | projects and unsolicited proposals. | 24 | | "Project Labor Agreement" means a pre-hire collective | 25 | | bargaining agreement with one or more labor organizations that | 26 | | establishes the terms and conditions of employment for a |
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| 1 | | specific project. | 2 | | "Proposal" means all materials and documents prepared by | 3 | | or on behalf of a private entity relating to the proposed | 4 | | development, financing, or operation of a facility as a | 5 | | qualifying project. | 6 | | "Proposer" means a private entity that has submitted an | 7 | | unsolicited proposal for a public-private agreement to a | 8 | | responsible public entity under this Act or submitted a | 9 | | proposal or statement of qualifications for a public-private | 10 | | agreement in response to a request for proposals or a request | 11 | | for qualifications for a project or services issued by a | 12 | | responsible public entity. | 13 | | "Public-private agreement" means the agreement between the | 14 | | private contractor and the responsible public entity relating | 15 | | to the development, financing, or operation of a qualifying | 16 | | project. | 17 | | "Public-private partnership" or "P3" means | 18 | | performance-based contractual relationships between one or | 19 | | more private entities and one or more responsible public | 20 | | entities related to one or more qualifying projects. | 21 | | "Qualifying project" or "Project" means one or more | 22 | | services or projects serving a public purpose that is owned, | 23 | | financed, controlled, or operated by a private entity in whole | 24 | | or in part. | 25 | | "Request for information" means all materials and | 26 | | documents prepared by or on behalf of a responsible public |
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| 1 | | entity to solicit information from private entities with | 2 | | respect to qualifying projects. | 3 | | "Request for proposals" means all materials and documents | 4 | | prepared by or on behalf of a responsible public entity to | 5 | | solicit proposals from private entities to enter into a | 6 | | public-private agreement. | 7 | | "Request for qualifications" means all materials and | 8 | | documents prepared by or on behalf of a responsible public | 9 | | entity to solicit statements of qualification from private | 10 | | entities to enter into a public-private agreement. | 11 | | "Responsible public entity" means a county, municipality, | 12 | | school district, special district, or any other political | 13 | | subdivision of the State or unit of local government; a public | 14 | | body corporate and politic; or a regional entity that serves a | 15 | | public purpose and is authorized to develop or operate a | 16 | | qualifying project. "Responsible public entity" does not | 17 | | include economic development or tourism partnerships, | 18 | | councils, commissions or entities. | 19 | | "Revenues" means all revenues, including any combination | 20 | | of income; earnings and interest; user fees; lease payments; | 21 | | allocations; federal, State, and local appropriations, grants, | 22 | | loans, lines of credit, and credit guarantees; bond proceeds; | 23 | | equity investments; service payments; or other receipts, | 24 | | arising out of or in connection with a qualifying project, | 25 | | including the development, financing, and operation of a | 26 | | qualifying project. The term includes money received as |
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| 1 | | grants, loans, lines of credit, credit guarantees, rebates or | 2 | | other forms of aid for a qualifying project from the federal | 3 | | government, the State, a unit of local government, or any | 4 | | agency or instrumentality of the federal government, the | 5 | | State, or a unit of local government. | 6 | | "Services" means operations, such as, but not limited to | 7 | | parking, cable, broadband, accounting, human resources, health | 8 | | care, data management, and technology. | 9 | | "Shortlist" means the process by which a responsible | 10 | | public entity reviews, evaluates, and ranks statements of | 11 | | qualifications submitted in response to a request for | 12 | | qualifications and then identifies the proposers who are | 13 | | eligible to submit a detailed proposal in response to a | 14 | | request for proposals. The identified proposers constitute the | 15 | | shortlist for the qualifying project to which the request for | 16 | | proposals relates. | 17 | | "Unit of local government" has the meaning ascribed to | 18 | | that term in Section 1 of Article VII of the Constitution of | 19 | | the State of Illinois and also means any unit designated as a | 20 | | municipal corporation, or school district. | 21 | | "Unsolicited Proposal" means a written proposal that is | 22 | | submitted to one or more responsible public entities on the | 23 | | initiative of the private sector entity or entities for the | 24 | | purpose of developing a partnership, and that is not in | 25 | | response to a formal or informal request issued by the | 26 | | responsible public entity or entities. |
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| 1 | | "User fees" or "tolls" means the rates, fees, or other | 2 | | charges imposed by the contractor for use of all or a portion | 3 | | of a qualifying project under a public-private agreement. | 4 | | Article 2. Infrastructure Investment Commission | 5 | | Section 2-1. Establishment. The Governor shall establish | 6 | | the Infrastructure Investment Commission, which shall report | 7 | | to and be funded by the Illinois Finance Authority and shall be | 8 | | independent of other agencies and departments of the State. | 9 | | Section 2-5. Duties of the Commission. The Commission | 10 | | shall: | 11 | | (a) assist responsible public entities with identifying | 12 | | projects, including opportunities for project aggregation, for | 13 | | which a public-private partnership may be appropriate; | 14 | | (b) provide technical assistance and expertise to | 15 | | responsible public entities on using public-private | 16 | | partnerships to develop or operate qualifying projects, | 17 | | including providing assistance with analyzing benefits and | 18 | | costs and information on available innovative financing | 19 | | options; | 20 | | (c) supply template contracts; | 21 | | (d) track proposed, ongoing, and completed private-public | 22 | | partnerships; | 23 | | (e) provide technical assistance in applying for federal |
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| 1 | | funding grants and financing (e.g., Transportation | 2 | | Infrastructure Finance and Innovation Act (TIFIA), TIFIA Lite, | 3 | | TIFIA Rural Project Initiative, Regional Infrastructure | 4 | | Accelerators, Capital Investment Grant, etc.) | 5 | | (f) identify methods of encouraging competition for the | 6 | | development or operation of qualifying projects; | 7 | | (g) serve as a liaison to State or federal government | 8 | | officials charged with promoting public-private infrastructure | 9 | | partnerships, State executive directors of other | 10 | | infrastructure investment commissions and regional or | 11 | | metropolitan public-private partnership offices; | 12 | | (h) conduct public and stakeholder engagement and | 13 | | outreach, including efforts to encourage transparency and | 14 | | information sharing regarding public-private partnerships; | 15 | | (i) issue regular updates on the future pipeline of P3 | 16 | | projects; | 17 | | (j) promote best practices, including standardized | 18 | | methodologies and processes; | 19 | | (k) attract private investment to the State; | 20 | | (l) develop a project development fund to: | 21 | | (1) assist responsible public entities with assessing | 22 | | the usefulness of the P3 model and unsolicited proposals | 23 | | for capital procurement and service needs for specific | 24 | | projects; | 25 | | (2) assist responsible public entities with managing a | 26 | | P3 procurement project or unsolicited proposal; |
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| 1 | | (3) assist responsible public entities that are not | 2 | | experienced with P3 procurement or unsolicited proposals; | 3 | | (4) assist responsible public entities that are | 4 | | undertaking new approaches or documenting P3 and | 5 | | unsolicited proposal practices in a way that will assist | 6 | | the Infrastructure Investment Commission and other | 7 | | responsible public entities in future projects; | 8 | | (5) assist with training costs for key staff of a | 9 | | responsible public entity which is integral to the | 10 | | successful development and implementation of a project; | 11 | | (6) assist a public entity with P3 procurement or an | 12 | | unsolicited proposal analysis that may include but may not | 13 | | be limited to a market analysis, qualitative assessment | 14 | | report, procurement options analysis, quantitative | 15 | | analysis, risk analysis, implementation strategy, and | 16 | | procurement documents; and | 17 | | (7) assist with the engagement of external and | 18 | | accredited P3 advisors and analysts; and | 19 | | (m) approve all expenditures from the project development | 20 | | fund. | 21 | | Section 2-10. Governance of the Commission. | 22 | | (a) The Commission shall be headed by a Chairman and a | 23 | | 6-member board of directors. | 24 | | (b) The board is responsible for the overall governance of | 25 | | the Commission and shall adopt a 5-year corporate plan and |
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| 1 | | annual report. The board shall meet at least quarterly to | 2 | | review the Commission's overall operation, receive committee | 3 | | reports, discuss the Investment Infrastructure Commission's | 4 | | performance and approve expenditures. The board shall review | 5 | | the performance of the Executive Director annually. | 6 | | (c) The Board of Directors shall establish committees to | 7 | | support the board as needed, including: | 8 | | (1) an audit committee to oversee the Commission's | 9 | | standards of integrity and behavior; the Commission's | 10 | | reporting of financial information and expenditures of the | 11 | | Project Development Fund; and the Commission's internal | 12 | | control systems, including the Commission's compliance | 13 | | with all applicable legal and regulatory requirements; to | 14 | | review the qualifications, independence and performance of | 15 | | the Commission's external auditors; and to oversee the | 16 | | Commission's enterprise risk management plan; and | 17 | | (2) a budget committee, which shall develop an annual | 18 | | revenue and expenditure plan, submit the plan to the IFA | 19 | | for approval and funding, and monitor revenues and | 20 | | expenditures during the course of the budget cycle. | 21 | | Section 2-15. Board Appointments. | 22 | | (a) The membership of the Commission established pursuant | 23 | | to this Article shall be appointed in accordance with the | 24 | | following: | 25 | | (1) Seven members shall be appointed by the Governor |
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| 1 | | with the advice and consent of the Senate having | 2 | | expertise, knowledge, or experience in infrastructure | 3 | | development or operation, capital market and finance, | 4 | | public-sector planning, or P3 procurement. No more than 4 | 5 | | members of any one political party may serve as members of | 6 | | the Commission at the same time. | 7 | | (2) Members of the Commission shall represent to a | 8 | | reasonable extent geographically diverse regions of the | 9 | | State as well as diversity in race, ethnicity, and gender. | 10 | | (3) Vacancies shall be filled for the unexpired term | 11 | | in the same manner as original appointments. All | 12 | | appointments shall be in writing and filed with the | 13 | | Secretary of State as a public record. | 14 | | (b) Of the members appointed by the Governor, one such | 15 | | member shall be appointed as chairperson and shall hold office | 16 | | for 4 years from the date of appointment, and until a successor | 17 | | shall be duly appointed and qualified but shall be subject to | 18 | | removal by the Executive Director of the Illinois Finance | 19 | | Authority for incompetency, neglect of duty, or malfeasance. | 20 | | (c) Of the original members, other than the chairperson, 3 | 21 | | shall hold office for 2 years and 3 shall hold office for 4 | 22 | | years from the date of appointment and until each respective | 23 | | successor is duly appointed and qualified but shall be subject | 24 | | to removal by the Executive Director of the Illinois Finance | 25 | | Authority for incompetency, neglect of duty, or malfeasance. | 26 | | In the case of vacancies in such offices during the recess of |
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| 1 | | the Senate, the Governor shall make a temporary appointment | 2 | | until the next meeting of the Senate when the Governor shall | 3 | | nominate a person to fill such office, and any person so | 4 | | nominated, who is confirmed by the Senate, shall hold office | 5 | | during the remainder of the term and until a successor shall be | 6 | | appointed and qualified. The respective term of the first | 7 | | members appointed shall be designated by the Governor at the | 8 | | time of appointment, but their successors shall each be | 9 | | appointed for a term of 4 years, except that any person | 10 | | appointed to fill a vacancy shall serve only for the unexpired | 11 | | term. Members shall be eligible for reappointment. Members | 12 | | shall serve until their respective successors are duly | 13 | | appointed and qualified. | 14 | | (d) Each such member shall receive an annual salary of | 15 | | $10,000, or as set by the Compensation Review Board, whichever | 16 | | is greater, payable in monthly installments, and shall be | 17 | | reimbursed for necessary expenses incurred in the performance | 18 | | of duties under this Act. | 19 | | Section 2-20. Duties of the Chairperson of the Commission. | 20 | | The chairperson shall preside at all meetings of the | 21 | | Commission; shall exercise general supervision over all | 22 | | powers, duties, obligations and functions of the Commission; | 23 | | and shall approve or disapprove all resolutions, bylaws, | 24 | | rules, rates, and regulations made and established by the | 25 | | Commission, and if the chairperson approves, the chairperson |
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| 1 | | shall sign the same, and such as the chairperson shall not | 2 | | approve, the chairperson shall return to the Commission with | 3 | | objections thereto in writing at the next regular meeting of | 4 | | the Commission occurring after the passage thereof. Such veto | 5 | | may extend to any one or more items contained in such | 6 | | resolution, bylaw, rule, rate, or regulation, or to its | 7 | | entirety; and in case the veto extends to a part of such | 8 | | resolution, bylaw, rule, rate, or regulation, the residue | 9 | | thereof shall take effect and be in force, but in case the | 10 | | chairperson shall fail to return any resolution, bylaw, rule, | 11 | | rate, or regulation with objections thereto by the time | 12 | | aforesaid, the chairperson shall be deemed to have approved | 13 | | the same, and the same shall take effect accordingly. Upon the | 14 | | return of any resolution, bylaw, rule, rate, or regulation by | 15 | | the chairperson, the vote by which the same was passed shall be | 16 | | reconsidered by the Commission, and if upon such | 17 | | reconsideration two-thirds of all the members agree by yeas | 18 | | and nays to pass the same, it shall go into effect | 19 | | notwithstanding the chairperson's refusal to approve thereof. | 20 | | The process of approving or disapproving all resolutions, | 21 | | bylaws, rules, rates, and regulations, as well as the ability | 22 | | of the members to override the disapproval of the chairperson, | 23 | | under this Section shall be set forth in the Commission's | 24 | | bylaws. Nothing in the Commission's bylaws, rules, or | 25 | | regulations may be contrary to this Section. |
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| 1 | | Section 2-25. Duties of the Executive Director of the | 2 | | Commission. | 3 | | (a) The Executive Director shall be appointed by a | 4 | | majority vote of the Commission. | 5 | | (b) The Executive Director shall have demonstrated | 6 | | knowledge, training, or experience in 2 or more of the | 7 | | following areas: | 8 | | (1) infrastructure development or operation; | 9 | | (2) capital markets and finance, including municipal | 10 | | finance; | 11 | | (3) public-sector planning; or | 12 | | (4) P3 procurement. | 13 | | (c) The Executive Director shall provide to the standing | 14 | | committees of the House and Senate having jurisdiction over | 15 | | services, transportation or infrastructure and post online a | 16 | | report annually within 6 weeks of the end of each fiscal year | 17 | | that: | 18 | | (1) lists those public-private partnerships that: | 19 | | (i) are expected to solicit bids within the next | 20 | | fiscal year; | 21 | | (ii) are in progress; | 22 | | (iii) were completed during the prior fiscal year; | 23 | | or | 24 | | (iv) were removed from consideration during the | 25 | | prior fiscal year; and | 26 | | (2) summarizes actions taken by the Commission to |
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| 1 | | fulfill its duties pursuant to Section 2-5 of this | 2 | | Article. | 3 | | (d) The Executive Director shall be responsible to the | 4 | | Commission for the proper administration of the affairs of the | 5 | | Commission and policies adopted by the chairperson and members | 6 | | of the Commission. | 7 | | (e) All employees, as are necessary to the proper | 8 | | functioning of the Commission, shall be appointed by and | 9 | | report to the Executive Director with the consent of the | 10 | | Commission. | 11 | | (f) The Executive Director shall hold office for 4 years | 12 | | from the date of appointment but shall be subject to removal by | 13 | | the Commission for incompetency, neglect of duty or | 14 | | malfeasance. | 15 | | (g) The Executive Director shall receive a salary of | 16 | | $15,000 per annum, or as set by a Compensation Review Board, | 17 | | whichever is greater, payable in monthly installments, | 18 | | together with reimbursement for necessary expenses incurred in | 19 | | the performance of the duties of the Executive Director. The | 20 | | Executive Director shall be eligible for reappointment. | 21 | | Section 2-30. Compliance with State records laws. The | 22 | | Commission shall adhere to the Freedom of Information Act and | 23 | | the State Records Act. | 24 | | Article 3. Qualification and Process |
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| 1 | | Section 3-1. Unsolicited proposals. | 2 | | (a) A responsible public entity may receive unsolicited | 3 | | proposals for a project and may thereafter enter into a | 4 | | public-private agreement with a private entity, or a | 5 | | consortium of private entities, for the building, upgrading, | 6 | | providing of services, operating, ownership, or financing of | 7 | | facilities. | 8 | | (b) A responsible public entity may consider, evaluate and | 9 | | accept an unsolicited proposal for a public-private | 10 | | partnership project from a private entity if the proposal: (i) | 11 | | is independently developed and drafted by the proposer without | 12 | | responsible public entity supervision; (ii) shows that the | 13 | | proposed project could benefit the people served by the | 14 | | responsible public entity; (iii) includes a financing plan to | 15 | | allow the project to move forward pursuant to the applicable | 16 | | responsible public entity's budget and finance requirements; | 17 | | and (iv) includes sufficient detail and information for the | 18 | | responsible entity to evaluate the proposal in an objective | 19 | | and timely manner and permit a determination of project | 20 | | feasibility and cost-effectiveness. | 21 | | (c) The unsolicited proposal shall include the following: | 22 | | (1) an executive summary covering the major elements | 23 | | of the proposal; | 24 | | (2) a summary of qualifications concerning the | 25 | | experience, expertise, technical competence and |
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| 1 | | qualifications of the private entity, and of each member | 2 | | of its management team and other key employees, | 3 | | consultants and subcontractors, including the name, | 4 | | address and professional designation; | 5 | | (3) a facilities project description, including, where | 6 | | applicable: | 7 | | (A) the limits, scope, and location of the | 8 | | proposed project; | 9 | | (B) right-of-way requirements; | 10 | | (C) connections with other facilities and | 11 | | improvements to those facilities necessary if the | 12 | | project is developed; | 13 | | (D) a conceptual project design; | 14 | | (E) a statement of the project's relationship and | 15 | | impact upon relevant existing plans of the responsible | 16 | | public entity; | 17 | | (4) a facilities project schedule, including where | 18 | | applicable, estimates of: | 19 | | (A) dates of contract award; | 20 | | (B) start of construction; | 21 | | (C) completion of construction; | 22 | | (D) start of operations; and | 23 | | (E) major maintenance or reconstruction activities | 24 | | during the life of the proposed project agreement; | 25 | | (5) an operating plan describing the operation of a | 26 | | completed facility, if operation of a facility is part of |
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| 1 | | the proposal, describing the management structure and | 2 | | approach, the proposed period of operations, enforcement, | 3 | | emergency response and other relevant information; | 4 | | (6) a finance plan describing the proposed financing | 5 | | of the project identifying the source of funds to, where | 6 | | applicable, design, construct, maintain and manage the | 7 | | project during the term of the proposed contract; | 8 | | (7) the legal basis for the project, including | 9 | | verification that a private entity has the licenses and | 10 | | certificates necessary to complete the project. | 11 | | (d) Within 120 days after receiving an unsolicited | 12 | | proposal, the responsible public entity shall complete a | 13 | | preliminary evaluation of the unsolicited proposal and shall | 14 | | either: | 15 | | (1) if the preliminary evaluation is unfavorable, | 16 | | return the proposal without further action; or | 17 | | (2) if the preliminary evaluation is favorable, notify | 18 | | the proposer that the responsible public entity will | 19 | | further evaluate the proposal; or | 20 | | (3) request amendments, clarification or modification | 21 | | of the unsolicited proposal. | 22 | | (e)(1) If the responsible public entity chooses to further | 23 | | evaluate an unsolicited proposal with the intent to enter into | 24 | | a public-private agreement for the proposed project, the | 25 | | responsible public entity shall publish notice in a newspaper | 26 | | of general circulation covering the location of the project at |
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| 1 | | least once a week for 2 weeks stating that the responsible | 2 | | public entity has received a proposal and will accept other | 3 | | proposals for the same project. The timeframe within which the | 4 | | responsible public entity may accept other proposals shall be | 5 | | determined by the responsible public entity on a | 6 | | project-by-project basis based upon the complexity of the | 7 | | qualifying project and the public benefit to be gained by | 8 | | allowing a longer or shorter period of time within which other | 9 | | proposals may be received; however, the timeframe for allowing | 10 | | other proposals must be at least 21 days, but no more than 120 | 11 | | days, after the initial date of publication. | 12 | | (2) A copy of the notice must be mailed to each local | 13 | | government in the affected jurisdiction. The responsible | 14 | | public entity shall provide reasonably sufficient information | 15 | | and the identity of its contact person to enable other private | 16 | | entities to make proposals. | 17 | | (3) If after no less than 120 days, no counter-proposal is | 18 | | received, or if a counter-proposal is evaluated and found to | 19 | | be equal to or inferior to the original unsolicited proposal, | 20 | | the responsible public entity may proceed to negotiate a | 21 | | contract with the original proposer. | 22 | | (4) If after no less than 120 days one or more | 23 | | counter-proposals meeting unsolicited proposal standards are | 24 | | received, and if, in the opinion of the responsible public | 25 | | entity, the counter-proposal is evaluated and found to be | 26 | | superior to the original unsolicited proposal, the responsible |
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| 1 | | public entity shall proceed to determine the successful | 2 | | participant through a final procurement phase known as "Best | 3 | | and Final Offer" (BAFO). The responsible public entity shall | 4 | | invite the original private sector party and the proponent | 5 | | submitting the superior counter-proposal to engage in a BAFO | 6 | | phase. The invitation to participate in the BAFO phase will | 7 | | provide to each participating proposer: | 8 | | (i) the general concepts that were considered superior | 9 | | to the original proposal, while keeping proprietary | 10 | | information contained in the proposals confidential to the | 11 | | extent possible; and | 12 | | (ii) the pre-established evaluation criteria or the | 13 | | "basis of award" to be used to determine the successful | 14 | | proponent. | 15 | | (5) Offers received in response to the BAFO invitation | 16 | | will be reviewed by the responsible public entity and scored | 17 | | in accordance with a pre-established criterion, or | 18 | | alternatively, in accordance with the "basis of award" | 19 | | provision identified through the BAFO process. | 20 | | (6) In all cases, the basis of award will be "best value" | 21 | | to the responsible public entity, as determined by the | 22 | | responsible public entity. | 23 | | (f) After a comprehensive evaluation and acceptance of an | 24 | | unsolicited proposal and any alternatives, the responsible | 25 | | public entity may commence negotiations with a proposer, | 26 | | considering whether: |
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| 1 | | (1) the proposal has received a favorable | 2 | | comprehensive evaluation; | 3 | | (2) the proposal is duplicative of existing | 4 | | infrastructure project or services; | 5 | | (3) the alternative proposal closely resembles a | 6 | | pending competitive proposal for a public-private | 7 | | partnership or other procurement; | 8 | | (4) the proposal demonstrates a unique method, | 9 | | approach, or concept; | 10 | | (5) the facts and circumstances preclude or warrant | 11 | | additional competition; | 12 | | (6) the State has available any funds, debts, or | 13 | | assets to contribute to the project; | 14 | | (7) whether the facts and circumstances demonstrate | 15 | | that the project will likely have a significant adverse | 16 | | impact on State bond ratings; and | 17 | | (8) whether indemnifications included in the proposal | 18 | | are acceptable. | 19 | | Section 3-5. Competitive public-private partnership | 20 | | procurements. | 21 | | (a) A responsible public entity may solicit proposals for | 22 | | a qualifying project from private entities. | 23 | | (b) After the public notification period has expired, the | 24 | | responsible public entity shall rank the proposals received in | 25 | | terms of "best value". In ranking the proposals, the |
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| 1 | | responsible public entity may consider factors that include, | 2 | | but are not limited to, public benefit; minority, women and | 3 | | veteran participation; professional qualifications; general | 4 | | business terms; innovative design techniques or cost-reduction | 5 | | terms; and finance plans. The responsible public entity may | 6 | | then begin negotiations for a public-private agreement with | 7 | | the highest-ranked firm. If the responsible public entity is | 8 | | not satisfied with the results of the negotiations, the | 9 | | responsible public entity may terminate negotiations with the | 10 | | proposer and negotiate with the second-ranked or | 11 | | subsequent-ranked firms, in the order consistent with this | 12 | | procedure. If only one proposal is received, the responsible | 13 | | public entity may negotiate in good faith, and if the | 14 | | responsible public entity is not satisfied with the results of | 15 | | the negotiations, the responsible public entity may terminate | 16 | | negotiations with the proposer. | 17 | | Section 3-10. Additional rights of responsible public | 18 | | entity. In addition to any other rights under this Act, in | 19 | | connection with any procurement under this Article, the | 20 | | responsible public entity may: | 21 | | (a) withdraw a request for information, a request for | 22 | | qualifications, or a request for proposals at any time and, in | 23 | | its discretion, publish a new request for qualifications or | 24 | | request for proposals; | 25 | | (b) decline to approve a proposal; |
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| 1 | | (c) decline to award a public-private agreement; | 2 | | (d) request clarifications to any statement of | 3 | | information, qualifications, or proposal received, seek one or | 4 | | more revised proposals or one or more best and final offers, or | 5 | | conduct negotiations with one or more private entities that | 6 | | have submitted proposals; | 7 | | (e) modify the terms, provisions, and conditions of a | 8 | | request for qualification, request for proposals, technical | 9 | | specifications, or form of public-private agreement during the | 10 | | pendency of a procurement; | 11 | | (f) interview proposers; and | 12 | | (g) exercise any other rights available to the responsible | 13 | | public entity under this Act, applicable law, and | 14 | | administrative rule. | 15 | | Section 3-15. Confidentiality of P3 proposals; disclosure. | 16 | | (a) Except as provided in paragraph (2) of subsection (e) | 17 | | of Section 3-1, the responsible public entity may not disclose | 18 | | the contents of proposals during discussions or negotiations | 19 | | with potential proposers. | 20 | | (b) The responsible public entity may, in its discretion | 21 | | in accordance with the Freedom of Information Act, treat as | 22 | | confidential all or some information relating to an | 23 | | unsolicited proposal, including but not limited to discussions | 24 | | or negotiations between the responsible public entity and | 25 | | potential proposers. |
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| 1 | | (c) Notwithstanding subsections (a) and (b), and with the | 2 | | exception of portions that are confidential under the Freedom | 3 | | of Information Act, the terms of the selected offer negotiated | 4 | | under this Act shall be available for inspection and copying | 5 | | under the Freedom of Information Act after negotiations with | 6 | | the proposers have been completed. | 7 | | (d) When disclosing the terms of the selected offer under | 8 | | subsection (c), the responsible public entity shall certify | 9 | | that the information being disclosed accurately and completely | 10 | | represents the terms of the selected offer. | 11 | | (e) The responsible public entity shall disclose the | 12 | | contents of all proposals, except the parts of the proposals | 13 | | that may be treated as exempt in accordance with the Freedom of | 14 | | Information Act, when either: | 15 | | (1) the request for proposal process is withdrawn | 16 | | under Section 3-10; or | 17 | | (2) the public-private agreement has been executed and | 18 | | the closing for each financing transaction required to | 19 | | provide funding to carry out the agreement has been | 20 | | conducted. | 21 | | Section 3-20. Interim agreement. Before or in connection | 22 | | with the negotiation of a public-private agreement, the | 23 | | responsible public entity may enter into an interim agreement | 24 | | with the private entity proposing the development or operation | 25 | | of the qualifying project. An interim agreement is |
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| 1 | | discretionary with the parties. An interim agreement may: | 2 | | (1) authorize the private entity to commence | 3 | | activities for which it may be compensated related to the | 4 | | proposed qualifying project, including, but not limited | 5 | | to, project planning and development, design, | 6 | | environmental analysis and mitigation, survey, other | 7 | | activities concerning any part of the proposed qualifying | 8 | | project, and ascertaining the availability of financing | 9 | | for the proposed facility or facilities. | 10 | | (2) establish the process and timing of the | 11 | | negotiation of the public-private agreement. | 12 | | (3) contain such other provisions related to an aspect | 13 | | of the development or operation of a qualifying project | 14 | | that the responsible public entity and the private entity | 15 | | deem appropriate. | 16 | | Section 3-25. Payment of stipulated amount for work | 17 | | product of unsuccessful proposer; rights; liability. The | 18 | | responsible public entity may pay a stipulated amount to an | 19 | | unsuccessful proposer that submits a responsive proposal in | 20 | | response to a proposal under this Article, in exchange for the | 21 | | work product contained in that proposal. Upon payment of the | 22 | | stipulated amount, and unless agreed otherwise by the parties: | 23 | | (1) the responsible public entity and the unsuccessful | 24 | | proposer jointly own the rights to, and may make use of, | 25 | | any work product contained in the proposal, including the |
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| 1 | | technologies, techniques, methods, processes, ideas, and | 2 | | information contained in the proposal, project design, and | 3 | | project financial plan; and | 4 | | (2) the use by an unsuccessful proposer of any part of | 5 | | the work product contained in the proposal is at the sole | 6 | | risk of the unsuccessful proposer and does not confer | 7 | | liability on the responsible public entity. | 8 | | Section 3-30. Project awards. | 9 | | (a) The responsible public entity may perform an | 10 | | independent analysis of the proposed public-private | 11 | | partnership that demonstrates the cost-effectiveness and | 12 | | overall public benefit before the procurement process is | 13 | | initiated or before the contract is awarded. | 14 | | (b) The responsible public entity may approve the | 15 | | development or operation of a qualifying project, or the | 16 | | design or equipping of a qualifying project that is developed | 17 | | or operated, if: | 18 | | (1) there is a public need for the qualifying project, | 19 | | or a benefit derived from a project of the type that the | 20 | | private entity proposes as the qualifying project; | 21 | | (2) the estimated cost of the qualifying project is | 22 | | reasonable in relation to similar facilities; | 23 | | (3) the private entity's plans will result in the | 24 | | timely acquisition, design, construction, improvement, | 25 | | renovation, expansion, equipping, maintenance, or |
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| 1 | | operation of the qualifying project; | 2 | | (4) the proposed project or service is in the public's | 3 | | best interest. | 4 | | (c) The responsible public entity may charge a reasonable | 5 | | fee to cover the costs of processing, reviewing, and | 6 | | evaluating the request, including, but not limited to, | 7 | | reasonable attorney or other professional fees and fees for | 8 | | financial and technical advisors or consultants and for other | 9 | | necessary advisors or consultants. | 10 | | (d) Upon approval of a qualifying project, the responsible | 11 | | public entity shall establish a date for the commencement of | 12 | | activities related to the qualifying project. The responsible | 13 | | public entity may extend the commencement date. | 14 | | (e) Approval of a qualifying project by the responsible | 15 | | public entity is subject to entering into a public-private | 16 | | agreement with the private entity. | 17 | | (f) The responsible public entity shall provide | 18 | | notification to the public of its intent to commence | 19 | | negotiations with a proposer. | 20 | | (g) Before signing a public-private agreement, the | 21 | | responsible public entity must consider a reasonable funding, | 22 | | financing and affordability plan considering the project cost; | 23 | | revenues by source; available financing; major assumptions; | 24 | | internal rate of return on private investments, if | 25 | | governmental funds are assumed to deliver a cost-feasible | 26 | | project; and a total cash-flow analysis beginning with the |
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| 1 | | implementation of the project and extending for the term of | 2 | | the public-private agreement except no longer than the life of | 3 | | the project or 75 years, whichever is earlier. | 4 | | (h) If the responsible public entity chooses to evaluate a | 5 | | detailed proposal involving architecture, engineering, or | 6 | | landscape architecture, it may require a professional review | 7 | | and evaluation of the design and construction proposed to | 8 | | ensure material quality standards, interior space use, budget | 9 | | estimates, design and construction schedules, and sustainable | 10 | | design and construction standards. | 11 | | (i) Each facility project awarded by a responsible public | 12 | | entity shall: | 13 | | (1) Ensure that provision is made for the private | 14 | | entity's performance and payment of subcontractors, | 15 | | including, but not limited to, surety bonds, letters of | 16 | | credit, parent company guarantees, and lender and equity | 17 | | partner guarantees. Components of the qualifying project | 18 | | that involve construction performance and payment, bonds | 19 | | are subject to the recordation, notice, suit limitation, | 20 | | and other requirements of the Public Construction Bond | 21 | | Act. | 22 | | (2) Ensure the performance and payment of | 23 | | subcontractors. | 24 | | (3) Ensure that the public-private agreement addresses | 25 | | termination upon a material default of the public-private | 26 | | agreement. |
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| 1 | | (4) Pay wages pursuant to prevailing wage standards. | 2 | | Article 4. Formation of Agreement | 3 | | Section 4-1. Exercise of powers. | 4 | | (a) A responsible public entity may exercise the powers | 5 | | granted by this Act to undertake qualifying projects through | 6 | | public-private agreements with one or more private entities. | 7 | | (b) The Authority may enter into a public-private | 8 | | partnership for qualifying projects on the toll highway system | 9 | | such as commuter rail or high-speed rail lines, and | 10 | | intelligent transportation infrastructure that will enhance | 11 | | the safety, efficiency, and environmental quality of the State | 12 | | highway system. The Authority may operate or provide | 13 | | operational services such as toll collection on highways that | 14 | | are developed or financed, or both, through a public-private | 15 | | agreement entered into by another public entity, under an | 16 | | agreement with the public entity or contractor responsible for | 17 | | the transportation project. | 18 | | Section 4-5. Powers of contractor; user fees. A contractor | 19 | | has: | 20 | | (a) all powers allowed by law generally to a private | 21 | | entity having the same form of organization as the contractor; | 22 | | and | 23 | | (b) the power to develop, own, control, finance, and |
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| 1 | | operate the qualifying project, and to impose and collect user | 2 | | fees, subject to the terms of the public-private agreement. No | 3 | | tolls or user fees may be imposed by the contractor except as | 4 | | set forth in a public-private agreement. | 5 | | Section 4-10. Powers of contractor; property interests. | 6 | | The contractor may own, lease, or acquire any property | 7 | | interest or other right to develop, finance, or operate the | 8 | | qualifying project, provided the qualifying project retains a | 9 | | public purpose. | 10 | | Section 4-15. Powers of contractor; user classifications | 11 | | and enforcement of rules. In operating the qualifying project, | 12 | | the contractor may do the following: | 13 | | (a) make user classifications as permitted in the | 14 | | public-private agreement. | 15 | | (b) as permitted in the public-private agreement or | 16 | | otherwise with the consent of the responsible public entity, | 17 | | make and enforce reasonable rules to the same extent that the | 18 | | responsible public entity may make and enforce rules with | 19 | | respect to a similar project. | 20 | | Article 5. Public-Private Agreements | 21 | | Section 5-1. Provisions of agreement. | 22 | | (a) Before beginning the development, financing, |
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| 1 | | operation, or any combination of the development, financing, | 2 | | or operation of a qualifying project under this Act, the | 3 | | contractor must enter into a public-private agreement with the | 4 | | responsible public entity. Subject to the other provisions of | 5 | | this Act, the responsible public entity and a private entity | 6 | | may enter into a public-private agreement with respect to a | 7 | | qualifying project. Subject to the requirements of this Act, a | 8 | | public-private agreement may provide that the private entity, | 9 | | acting on behalf of the responsible public entity, is | 10 | | partially or entirely responsible for any combination of | 11 | | developing, financing, or operating the qualifying project. | 12 | | (b) The public-private agreement must be in writing and | 13 | | may, as determined appropriate by the responsible public | 14 | | entity for the particular qualifying project, provide for some | 15 | | or all of the following: | 16 | | (1) Development, planning, design, construction, | 17 | | maintenance, repair, rehabilitation, expansion, providing | 18 | | of services, financing, and operation of the qualifying | 19 | | project under terms set forth in the public-private | 20 | | agreement, in any form as deemed appropriate by the | 21 | | responsible public entity, including, but not limited to, | 22 | | a long-term concession or lease, or an agent to build, | 23 | | finance, own, operate, maintain or any one or combination | 24 | | of the same, as applicable and serving a public purpose, a | 25 | | design-bid-build agreement, a design-build agreement, a | 26 | | design-build-maintain agreement, a design-build-finance |
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| 1 | | agreement, a design-build-operate-maintain agreement and a | 2 | | design-build-finance-operate-maintain agreement. | 3 | | (2) Delivery of performance and payment bonds or other | 4 | | performance security determined suitable by the | 5 | | responsible public entity, including letters of credit, | 6 | | United States bonds and notes, parent guaranties, and cash | 7 | | collateral, in connection with the development, financing, | 8 | | or operation of the qualifying project, in the forms and | 9 | | amounts set forth in the public-private agreement or | 10 | | otherwise determined as satisfactory by the responsible | 11 | | public entity to protect the responsible public entity and | 12 | | payment bond beneficiaries who have a direct contractual | 13 | | relationship with the contractor or a subcontractor of the | 14 | | contractor to supply labor or material. The payment or | 15 | | performance bond or alternative form of performance | 16 | | security is not required for the portion of a | 17 | | public-private agreement that includes only design, | 18 | | planning, or financing services, the performance of | 19 | | preliminary studies, or the acquisition of real property. | 20 | | (3) Review of plans for any development or operation, | 21 | | or both, of the qualifying project by the responsible | 22 | | public entity. | 23 | | (4) Inspection of any construction of or improvements | 24 | | to the qualifying project by the responsible public entity | 25 | | or another entity designated by the responsible public | 26 | | entity or under the public-private agreement to ensure |
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| 1 | | that the construction or improvements conform to the | 2 | | standards set forth in the public-private agreement or are | 3 | | otherwise acceptable to the responsible public entity. | 4 | | (5) Maintenance of (i) one or more policies of public | 5 | | liability insurance, copies of which shall be filed with | 6 | | the responsible public entity accompanied by proofs of | 7 | | coverage or (ii) self-insurance, each of which shall be in | 8 | | the form and amount as set forth by the public-private | 9 | | agreement or otherwise satisfactory to the responsible | 10 | | public entity as reasonably sufficient to insure coverage | 11 | | of tort liability to the public and employees and to | 12 | | enable the continued operation of the qualifying project. | 13 | | (6) Where operations are included within the | 14 | | contractor's obligations under the public-private | 15 | | agreement, monitoring of the maintenance practices of the | 16 | | contractor by the responsible public entity or another | 17 | | entity designated by the responsible public entity or | 18 | | under the public-private agreement and the taking of the | 19 | | actions the responsible public entity finds appropriate to | 20 | | ensure that the qualifying project is properly maintained. | 21 | | (7) Reimbursement to be paid to the responsible public | 22 | | entity as set forth in the public-private agreement for | 23 | | services provided by the responsible public entity. | 24 | | (8) Filing of appropriate financial statements and | 25 | | reports as set forth in the public-private agreement or as | 26 | | otherwise in a form acceptable to the responsible public |
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| 1 | | entity on a periodic basis. | 2 | | (9) Compensation or payments to the contractor. | 3 | | Compensation or payments may include any or a combination | 4 | | of the following: | 5 | | (i) a base fee and additional fee for project | 6 | | savings as the design-builder of a construction | 7 | | project; | 8 | | (ii) a development fee, payable on a lump sum | 9 | | basis, progress payment basis, project milestone | 10 | | basis, time and materials basis, or any other basis | 11 | | considered appropriate by the responsible public | 12 | | entity; | 13 | | (iii) an operations fee, payable on a lump sum | 14 | | basis, time and material basis, periodic basis, or any | 15 | | other basis considered appropriate by the responsible | 16 | | public entity; | 17 | | (iv) some or all of the revenues, if any, arising | 18 | | out of operation of the qualifying project; | 19 | | (v) a maximum rate of return on investment or | 20 | | return on equity or a combination of the 2; | 21 | | (vi) in-kind services, materials, property, | 22 | | equipment, or other items; | 23 | | (vii) compensation in the event of any | 24 | | termination; | 25 | | (viii) availability payments or similar | 26 | | arrangements whereby payments are made to the |
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| 1 | | contractor pursuant to the terms set forth in the | 2 | | public-private agreements or related agreements; | 3 | | (ix) other compensation set forth in the | 4 | | public-private agreement or otherwise considered | 5 | | appropriate by the responsible public entity. | 6 | | (10) Compensation or payments to the responsible | 7 | | public entity, if any. Compensation or payments to the | 8 | | responsible public entity may include any one or | 9 | | combination of the following: | 10 | | (i) a concession or lease payment or other fee, | 11 | | which may be payable upfront or on a periodic basis or | 12 | | on another basis deemed appropriate by the responsible | 13 | | public entity; | 14 | | (ii) sharing of revenues, if any, from the | 15 | | operation of the qualifying project; | 16 | | (iii) sharing of project savings from the | 17 | | construction or services of the qualifying project; | 18 | | (iv) payment for any services, materials, | 19 | | equipment, personnel, or other items provided by the | 20 | | responsible public entity to the contractor under the | 21 | | public-private agreement or in connection with the | 22 | | qualifying project; | 23 | | (v) other compensation set forth in the | 24 | | public-private agreement or otherwise considered | 25 | | appropriate by the parties. | 26 | | (11) the date and terms of termination of the |
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| 1 | | contractor's authority and duties under the public-private | 2 | | agreement and the circumstances under which the | 3 | | contractor's authority and duties may be terminated before | 4 | | that date; | 5 | | (12) the term of a public-private agreement, including | 6 | | all extensions, may not exceed 75 years. | 7 | | (13) the termination of the public-private agreement, | 8 | | upon which the authority of the contractor under this Act | 9 | | ceases, except for those duties and obligations that | 10 | | extend beyond the termination, as set forth in the | 11 | | public-private agreement, and upon which all interests in | 12 | | the qualifying project shall revert to the responsible | 13 | | public entity; | 14 | | (14) rights and remedies of the responsible public | 15 | | entity if the contractor defaults or otherwise fails to | 16 | | comply with the terms of the public-private agreement; | 17 | | (15) procedures for the selection of professional | 18 | | design firms and subcontractors, which shall include | 19 | | procedures consistent with the Architectural, Engineering, | 20 | | and Land Surveying Qualifications Based Selection Act for | 21 | | the selection of professional design firms and may | 22 | | include, in the discretion of the responsible public | 23 | | entity, procedures consistent with the low bid procurement | 24 | | procedures outlined in the Illinois Procurement Code for | 25 | | the selection of construction companies; | 26 | | (16) other terms, conditions, and provisions that the |
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| 1 | | responsible public entity finds are in the public's | 2 | | interest. | 3 | | (c) A project labor agreement shall be required by all | 4 | | private entities performing construction of public | 5 | | infrastructure for qualifying projects. | 6 | | Section 5-5. Additional requirements. | 7 | | (a) The responsible public entity may fix the amounts of | 8 | | user fees that a contractor may charge and collect for the use | 9 | | of any part of a qualifying project in accordance with the | 10 | | public-private agreement. In fixing the amounts, the | 11 | | responsible public entity may establish amounts for the user | 12 | | fees and may provide that any increases or decreases of those | 13 | | fees shall be based upon the indices, methodologies, or other | 14 | | factors the responsible public entity considers appropriate. | 15 | | (b) A public-private agreement may: | 16 | | (1) authorize the imposition of tolls; | 17 | | (2) authorize the contractor to adjust the user fees for | 18 | | the use of the qualifying project, so long as the amounts | 19 | | charged and collected by the contractor do not exceed amounts | 20 | | established by the responsible public entity under the | 21 | | public-private agreement; | 22 | | (3) provide that any adjustment by the contractor | 23 | | permitted under paragraph (2) may be based on the indices, | 24 | | methodologies, or other factors described in the | 25 | | public-private agreement; |
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| 1 | | (4) authorize the contractor to charge and collect user | 2 | | fees through methods, including, but not limited to, automatic | 3 | | vehicle identification systems, electronic toll collection | 4 | | systems, and, to the extent permitted by law, global | 5 | | positioning system-based, photo-based, or video-based toll | 6 | | collection enforcement, if, to the maximum extent feasible, | 7 | | the contractor will (i) use open road tolling methods that | 8 | | allow payment of tolls at highway speeds and (ii) comply with | 9 | | United States Department of Transportation requirements and | 10 | | best practices with respect to tolling methods; and | 11 | | (5) authorize the collection of user fees by a third | 12 | | party. | 13 | | Section 5-10. Loans for qualifying project. In the | 14 | | public-private agreement, the responsible public entity may | 15 | | agree to make loans for the development or operation, or both, | 16 | | of the qualifying project from time to time from amounts | 17 | | received from the federal government or any agency or | 18 | | instrumentality of the federal government or from any State or | 19 | | local agency. No loan shall extend beyond the life of the | 20 | | qualifying project as the parties determine. | 21 | | Section 5-15. Terms and conditions in agreement. The | 22 | | public-private agreement must incorporate the duties of the | 23 | | contractor under this Act and may contain the other terms and | 24 | | conditions that the responsible public entity determines serve |
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| 1 | | the public purpose of this Act. The public-private agreement | 2 | | may contain provisions under which the responsible public | 3 | | entity agrees to provide notice of default and cure rights for | 4 | | the benefit of the contractor and the persons or entities | 5 | | described in the public-private agreement that are providing | 6 | | financing for the qualifying project. The public-private | 7 | | agreement may contain any other lawful term or condition to | 8 | | which the contractor and the responsible public entity | 9 | | mutually agree, including provisions regarding change orders, | 10 | | dispute resolution, required upgrades to the qualifying | 11 | | project, tolling policies, changes and modifications to the | 12 | | qualifying project, unavoidable delays, or provisions for a | 13 | | loan or grant of public funds for the development or | 14 | | operation, or both, of one or more qualifying projects. | 15 | | Section 5-20. Responsible public entity takeover of | 16 | | qualifying project after termination or expiration. | 17 | | (a) Upon the termination or expiration of the | 18 | | public-private agreement, including a termination for default, | 19 | | the responsible public entity shall have the right to take | 20 | | over the qualifying project, and all of the right, title, and | 21 | | interest in the qualifying project and all real property | 22 | | acquired as a part of the project shall be held in the name of | 23 | | the responsible public entity. | 24 | | (b) If a responsible public entity elects to take over a | 25 | | qualifying project as provided in subsection (a), the |
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| 1 | | responsible public entity may do the following: | 2 | | (1) develop, finance, or operate the project, | 3 | | including through a public-private agreement entered in | 4 | | accordance with this Act; | 5 | | (2) impose, collect, retain, and use user fees, if | 6 | | any, for the project. | 7 | | (c) If a responsible public entity elects to take over a | 8 | | qualifying project as provided in subsection (a), the | 9 | | responsible public entity may use the revenues, if any, for | 10 | | any lawful purpose, including to: | 11 | | (1) make payments to individuals or entities in | 12 | | connection with any financing of the qualifying project, | 13 | | including through a public-private agreement entered into | 14 | | in accordance with this Act; | 15 | | (2) permit a contractor to receive some or all of the | 16 | | revenues under a public-private agreement entered into | 17 | | under this Act; | 18 | | (3) pay development costs of the project; | 19 | | (4) pay current operation costs of the project or | 20 | | facilities; | 21 | | (5) pay the contractor for any compensation or payment | 22 | | owing upon termination; | 23 | | (6) pay for the development, financing, or operation | 24 | | of any other project or projects the responsible public | 25 | | entity deems appropriate. | 26 | | (d) The full faith and credit of the State or any political |
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| 1 | | subdivision of the State or the responsible public entity is | 2 | | not pledged to secure any financing of the contractor by the | 3 | | election to take over the qualifying project. Assumption of | 4 | | development or operation, or both, of the qualifying project | 5 | | does not obligate the State or any political subdivision of | 6 | | the State or the responsible public entity to pay any | 7 | | obligation of the contractor. | 8 | | Section 5-25. Changes added by written amendment. Any | 9 | | changes in the terms of the public-private agreement agreed to | 10 | | by the parties shall be added to the public-private agreement | 11 | | by written amendment. | 12 | | Section 5-30. Agreements with multiple private entities. | 13 | | Notwithstanding any other provision of this Act, the | 14 | | responsible public entity may enter into a public-private | 15 | | agreement with multiple private entities if the responsible | 16 | | public entity determines in writing that it is in the public | 17 | | interest to do so. | 18 | | Section 5-35. Agreement provisions for qualifying project. | 19 | | The public-private agreement may provide for all or part of | 20 | | the development, financing, or operation of phases or segments | 21 | | of the qualifying project. | 22 | | Article 6. Development and Operations Standards for Projects |
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| 1 | | Section 6-1. Standards of compliance for plans and | 2 | | specifications. The plans and specifications, if any, for each | 3 | | project developed under this Act must comply with: | 4 | | (1) the responsible public entity's standards for | 5 | | other projects of a similar nature or as otherwise | 6 | | provided in the public-private agreement; | 7 | | (2) the Professional Engineering Practice Act of 1989, | 8 | | the Structural Engineering Practice Act of 1989, the | 9 | | Illinois Architecture Practice Act of 1989, the | 10 | | requirements of Section 30-22 of the Illinois Procurement | 11 | | Code as applicable to responsible bidders, and the | 12 | | Illinois Professional Land Surveyor Act of 1989; and | 13 | | (3) any other applicable State or federal standards. | 14 | | Section 6-5. Highway projects; jurisdiction. Each highway | 15 | | project constructed or operated under this Act is considered | 16 | | to be part of: | 17 | | (1) the State highway system for purposes of | 18 | | identification, maintenance standards, and enforcement of | 19 | | traffic laws if the highway project is under the | 20 | | jurisdiction of the Department; | 21 | | (2) the toll highway system for purposes of | 22 | | identification, maintenance standards, and enforcement of | 23 | | traffic laws if the highway project is under the | 24 | | jurisdiction of the Authority; or |
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| 1 | | (3) a country or municipal road system for purposes of | 2 | | identification, maintenance standards and enforcement of | 3 | | traffic laws if the highway or road project is under the | 4 | | jurisdiction of a county or municipality. | 5 | | Section 6-10. Service agreements. Any unit of local | 6 | | government or State agency may enter into agreements with the | 7 | | contractor for maintenance or other services under this Act. | 8 | | Section 6-15. Cooperation with federal and local agencies. | 9 | | The responsible public entity shall seek the cooperation of | 10 | | federal and local agencies to expedite all necessary federal | 11 | | and local permits, licenses, and approvals necessary for | 12 | | projects under this Act. | 13 | | Article 7. Taxation of Contractors | 14 | | Section 7-1. Exemptions from property taxes. A project | 15 | | under this Act and tangible personal property used exclusively | 16 | | in connection with a project that are (a) owned by the | 17 | | responsible public entity and leased, licensed, financed, or | 18 | | otherwise conveyed to a contractor or (b) acquired, | 19 | | constructed, or otherwise provided by a contractor on behalf | 20 | | of the responsible public entity under the terms of a | 21 | | public-private agreement are considered to be public property | 22 | | devoted to an essential public and governmental function and |
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| 1 | | purpose. The property, and a contractor's leasehold estate or | 2 | | interests in the property, are exempt from all ad valorem | 3 | | property taxes and special assessments levied against property | 4 | | by the State or any political subdivision of the State. | 5 | | Section 7-5. Exemptions from retail and use taxes. A | 6 | | contractor or any other person purchasing tangible personal | 7 | | property for incorporation into or improvement of a structure | 8 | | or facility constituting or becoming part of the land included | 9 | | in a project is entitled to the exemption from retail tax and | 10 | | use tax provided under the Retailers' Occupation Tax Act and | 11 | | Use Tax Act, respectively, with respect to that tangible | 12 | | personal property. | 13 | | Section 7-10. Taxation of income. Income received by a | 14 | | contractor under the terms of a public-private agreement is | 15 | | subject to taxation in the same manner as income received by | 16 | | other private entities. | 17 | | Article 8. Financial Arrangements | 18 | | Section 8-1. Actions to obtain credit assistance. The | 19 | | responsible public entity may do any combination of applying | 20 | | for, executing, or endorsing applications submitted by private | 21 | | entities to obtain federal, State, or local credit assistance | 22 | | for qualifying projects developed, financed, or operated under |
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| 1 | | this Act, including loans, lines of credit, and guarantees. | 2 | | Section 8-5. Actions to obtain assistance. The responsible | 3 | | public entity may take any action to obtain federal, State, or | 4 | | local assistance for a qualifying project that serves the | 5 | | public purpose of this Act and may enter into any contracts | 6 | | required to receive federal assistance. The responsible public | 7 | | entity may determine that it serves the public purpose of this | 8 | | Act for all or any portion of the costs of a qualifying project | 9 | | to be paid, directly or indirectly, from the proceeds of a | 10 | | grant or loan, line of credit, or loan guarantee made by a | 11 | | local, State, or federal government or any agency or | 12 | | instrumentality of a local, State, or federal government. Such | 13 | | assistance may include, but not be limited to, federal credit | 14 | | assistance pursuant to the Transportation Infrastructure | 15 | | Finance and Innovation Act and the Water Infrastructure and | 16 | | Finance and Innovation Act. | 17 | | Section 8-10. Grants or loans from amounts received from | 18 | | governments. The responsible public entity may agree to make | 19 | | grants or loans for the development, financing, or operation | 20 | | of a qualifying project from time to time, from amounts | 21 | | received from the federal, State, or local government or any | 22 | | agency or instrumentality of the federal, State, or local | 23 | | government. |
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| 1 | | Section 8-15. Terms and conditions of financing. Any | 2 | | financing of a qualifying project may be in the amounts for the | 3 | | term, and upon other terms and conditions that are determined | 4 | | by the parties to the public-private agreement, and the | 5 | | financing shall not exceed the life of the qualifying project, | 6 | | not to exceed 75 years. | 7 | | Section 8-20. General powers for the purpose of financing. | 8 | | For the purpose of financing a qualifying project, the | 9 | | contractor and the responsible public entity may do the | 10 | | following: | 11 | | (1) propose to use any and all of the revenues | 12 | | generated by a qualifying project to pay principal, | 13 | | interest, costs of operation and maintenance of a | 14 | | qualifying project; | 15 | | (2) enter into grant agreements; | 16 | | (3) access any other funds for design, construction, | 17 | | operation or maintenance of a qualifying project available | 18 | | to the responsible public entity or private entity, | 19 | | including public or private pension funds; | 20 | | (4) accept grants from the responsible public entity | 21 | | or other public or private agency or entity; | 22 | | (5) enter into a lease with a private entity for a | 23 | | qualifying project and may lease a qualifying project to a | 24 | | contractor under a public-private agreement; | 25 | | (6) pay lease rentals for leases that the responsible |
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| 1 | | public entity has entered into under this Act that secure | 2 | | bonds or debts issued or approved under this Article from | 3 | | any legally available revenues, including: | 4 | | (A) payments received from a contractor; | 5 | | (B) federal highway revenues; | 6 | | (C) distributions from the State highway fund; and | 7 | | (D) other funds available to the responsible | 8 | | public entity for such purpose. | 9 | | Section 8-25. Debt. | 10 | | (a) For the purpose of financing a qualifying project, the | 11 | | responsible public entity may by resolution borrow money and | 12 | | enter into agreements, leases, contracts or subleases with a | 13 | | private entity, and do the following: | 14 | | (i) issue, sell, and refund bonds, notes of the | 15 | | responsible public entity, debt, or other debt | 16 | | obligations; | 17 | | (ii) enter into loan agreements or other credit | 18 | | facilities; and | 19 | | (iii) secure any financing with a pledge of revenues, | 20 | | security interest in, or lien on all or part of a property | 21 | | subject to the agreement, including all of the party's | 22 | | property interests in the qualifying project. | 23 | | (b) Any term of such debt shall not exceed the earlier of | 24 | | the term of the public-private agreement, the life of the | 25 | | qualifying project, or 75 years. |
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| 1 | | (c) The bonds, notes and other forms of debt issued under | 2 | | this Article: | 3 | | (i) constitute the corporate obligations of the | 4 | | responsible public entity; | 5 | | (ii) do not constitute an indebtedness of the State | 6 | | within the meaning or application of any constitutional | 7 | | provision or limitation; and | 8 | | (iii) are payable solely as to both principal and | 9 | | interest and other associated fees from: | 10 | | (1) the revenues from a lease to the responsible | 11 | | public entity, if any; | 12 | | (2) proceeds of bonds or notes, if any; | 13 | | (3) investment earnings on proceeds of bonds or | 14 | | notes; or | 15 | | (4) other funds available to the responsible | 16 | | public entity for such purpose. | 17 | | Section 8-30. Use of public funds for financing. For the | 18 | | purpose of financing a qualifying project, public funds, | 19 | | including public or private pension funds, may be used and | 20 | | aggregated with funds provided by or on behalf of the | 21 | | contractor or other private entities. The use of public funds | 22 | | to finance all or a portion of qualifying projects authorized | 23 | | under this Article constitutes authorized investments as | 24 | | provided in Section 2 of the Public Funds Investment Act. |
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| 1 | | Section 8-35. Private activity bonds for purpose of | 2 | | financing. For the purpose of financing a qualifying project, | 3 | | a responsible public entity is authorized to do any | 4 | | combination of applying for, executing, or endorsing | 5 | | applications for an allocation of tax-exempt bond financing | 6 | | authorization provided by the United States Internal Revenue | 7 | | Code, as well as financing available under any other federal | 8 | | law or program. | 9 | | Section 8-40. Characterization of financing. Any bonds, | 10 | | debt, or other securities or other financing issued by or on | 11 | | behalf of a contractor for the purposes of a project | 12 | | undertaken under this Act shall not be deemed to constitute a | 13 | | debt of the responsible public entity, the State, or any | 14 | | political subdivision of the State or a pledge of the faith and | 15 | | credit of the responsible public entity, the State, or any | 16 | | political subdivision of the State, for purposes of debt | 17 | | limitation. | 18 | | Article 9. Acquisition of Property | 19 | | Section 9-1. General. The responsible public entity may | 20 | | exercise any power of condemnation or eminent domain, | 21 | | including quick-take powers, that it has under law, for the | 22 | | purpose of acquiring any lands or estates or interests in land | 23 | | for a qualifying project to the extent provided in the |
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| 1 | | public-private agreement or otherwise to the extent that the | 2 | | responsible public entity finds that the action serves the | 3 | | public purpose of this Act and deems it appropriate in the | 4 | | exercise of its powers under this Act. | 5 | | Section 9-5. Entering into grants of property interests. | 6 | | The responsible public entity and a private entity may enter | 7 | | into the leases, licenses, easements, and other grants of | 8 | | property that the responsible public entity determines | 9 | | necessary to carry out this Act. | 10 | | Article 10. Law Enforcement | 11 | | Section 10-1. Powers and jurisdiction within limits of | 12 | | qualifying project. | 13 | | (a) All law enforcement officers of the State and of each | 14 | | affected jurisdiction have the same powers and jurisdiction | 15 | | within the limits of the qualifying project as they have in | 16 | | their respective areas of jurisdiction. | 17 | | (b) Law enforcement officers shall have access to the | 18 | | qualifying project at any time for the purpose of exercising | 19 | | their powers and jurisdiction. | 20 | | Section 10-5. Application of traffic and motor vehicle | 21 | | laws; punishment for infractions. | 22 | | (a) The traffic and motor vehicle laws of the State of |
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| 1 | | Illinois or, if applicable, any local jurisdiction shall be | 2 | | the same as those applying to conduct on similar projects in | 3 | | the State of Illinois or the local jurisdiction. | 4 | | (b) Punishment for infractions and offenses shall be as | 5 | | prescribed by law for conduct occurring on similar projects in | 6 | | the State of Illinois or the local jurisdiction. | 7 | | Section 10-10. Law enforcement assistance. | 8 | | (a) Each responsible public entity may enter into an | 9 | | agreement between and among the private entity, the | 10 | | responsible public entity, and the Illinois State Police or | 11 | | other appropriate policing authority where the project is | 12 | | located concerning the provision of law enforcement assistance | 13 | | with respect to a qualifying project that is the subject of a | 14 | | public-private agreement under this Act. | 15 | | (b) Each responsible public entity is authorized to enter | 16 | | into arrangements with the appropriate policing unit related | 17 | | to costs incurred in providing law enforcement assistance | 18 | | under this Act. | 19 | | Article 11. Additional Powers of Responsible Public Entity | 20 | | with Respect to Qualifying Projects | 21 | | Section 11-5. Contracts and agreements necessary to | 22 | | performance of duties and execution of powers. Each | 23 | | responsible public entity may make and enter into all |
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| 1 | | contracts and agreements necessary or incidental to the | 2 | | performance of the responsible public entity's duties and the | 3 | | execution of the responsible public entity's powers under this | 4 | | Act. Except as otherwise required by law, these contracts or | 5 | | agreements are not subject to any appropriation or approvals | 6 | | other than the approval of the responsible public entity and | 7 | | may be for any term of years and contain any terms that are | 8 | | considered reasonable by the responsible public entity. | 9 | | Section 11-10. Payment of costs. A responsible public | 10 | | entity may pay the costs incurred under a public-private | 11 | | agreement entered into under this Act from any funds available | 12 | | to the responsible public entity under this Act or any other | 13 | | statute. | 14 | | Section 11-15. Action that would impair agreement | 15 | | prohibited. A responsible public entity or other State or | 16 | | local government may not take any action that would impair a | 17 | | public-private agreement entered into under this Act. | 18 | | Article 90. Amendatory Changes | 19 | | Section 90-5. The Freedom of Information Act is amended by | 20 | | changing Section 7.5 as follows:
| 21 | | (5 ILCS 140/7.5)
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| 1 | | Sec. 7.5. Statutory exemptions. To the extent provided for | 2 | | by the statutes referenced below, the following shall be | 3 | | exempt from inspection and copying: | 4 | | (a) All information determined to be confidential | 5 | | under Section 4002 of the Technology Advancement and | 6 | | Development Act. | 7 | | (b) Library circulation and order records identifying | 8 | | library users with specific materials under the Library | 9 | | Records Confidentiality Act. | 10 | | (c) Applications, related documents, and medical | 11 | | records received by the Experimental Organ Transplantation | 12 | | Procedures Board and any and all documents or other | 13 | | records prepared by the Experimental Organ Transplantation | 14 | | Procedures Board or its staff relating to applications it | 15 | | has received. | 16 | | (d) Information and records held by the Department of | 17 | | Public Health and its authorized representatives relating | 18 | | to known or suspected cases of sexually transmissible | 19 | | disease or any information the disclosure of which is | 20 | | restricted under the Illinois Sexually Transmissible | 21 | | Disease Control Act. | 22 | | (e) Information the disclosure of which is exempted | 23 | | under Section 30 of the Radon Industry Licensing Act. | 24 | | (f) Firm performance evaluations under Section 55 of | 25 | | the Architectural, Engineering, and Land Surveying | 26 | | Qualifications Based Selection Act. |
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| 1 | | (g) Information the disclosure of which is restricted | 2 | | and exempted under Section 50 of the Illinois Prepaid | 3 | | Tuition Act. | 4 | | (h) Information the disclosure of which is exempted | 5 | | under the State Officials and Employees Ethics Act, and | 6 | | records of any lawfully created State or local inspector | 7 | | general's office that would be exempt if created or | 8 | | obtained by an Executive Inspector General's office under | 9 | | that Act. | 10 | | (i) Information contained in a local emergency energy | 11 | | plan submitted to a municipality in accordance with a | 12 | | local emergency energy plan ordinance that is adopted | 13 | | under Section 11-21.5-5 of the Illinois Municipal Code. | 14 | | (j) Information and data concerning the distribution | 15 | | of surcharge moneys collected and remitted by carriers | 16 | | under the Emergency Telephone System Act. | 17 | | (k) Law enforcement officer identification information | 18 | | or driver identification information compiled by a law | 19 | | enforcement agency or the Department of Transportation | 20 | | under Section 11-212 of the Illinois Vehicle Code. | 21 | | (l) Records and information provided to a residential | 22 | | health care facility resident sexual assault and death | 23 | | review team or the Executive Council under the Abuse | 24 | | Prevention Review Team Act. | 25 | | (m) Information provided to the predatory lending | 26 | | database created pursuant to Article 3 of the Residential |
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| 1 | | Real Property Disclosure Act, except to the extent | 2 | | authorized under that Article. | 3 | | (n) Defense budgets and petitions for certification of | 4 | | compensation and expenses for court appointed trial | 5 | | counsel as provided under Sections 10 and 15 of the | 6 | | Capital Crimes Litigation Act. This subsection (n) shall | 7 | | apply until the conclusion of the trial of the case, even | 8 | | if the prosecution chooses not to pursue the death penalty | 9 | | prior to trial or sentencing. | 10 | | (o) Information that is prohibited from being | 11 | | disclosed under Section 4 of the Illinois Health and | 12 | | Hazardous Substances Registry Act. | 13 | | (p) Security portions of system safety program plans, | 14 | | investigation reports, surveys, schedules, lists, data, or | 15 | | information compiled, collected, or prepared by or for the | 16 | | Department of Transportation under Sections 2705-300 and | 17 | | 2705-616 of the Department of Transportation Law of the | 18 | | Civil Administrative Code of Illinois, the Regional | 19 | | Transportation Authority under Section 2.11 of the | 20 | | Regional Transportation Authority Act, or the St. Clair | 21 | | County Transit District under the Bi-State Transit Safety | 22 | | Act. | 23 | | (q) Information prohibited from being disclosed by the | 24 | | Personnel Record Review Act. | 25 | | (r) Information prohibited from being disclosed by the | 26 | | Illinois School Student Records Act. |
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| 1 | | (s) Information the disclosure of which is restricted | 2 | | under Section 5-108 of the Public Utilities Act.
| 3 | | (t) All identified or deidentified health information | 4 | | in the form of health data or medical records contained | 5 | | in, stored in, submitted to, transferred by, or released | 6 | | from the Illinois Health Information Exchange, and | 7 | | identified or deidentified health information in the form | 8 | | of health data and medical records of the Illinois Health | 9 | | Information Exchange in the possession of the Illinois | 10 | | Health Information Exchange Office due to its | 11 | | administration of the Illinois Health Information | 12 | | Exchange. The terms "identified" and "deidentified" shall | 13 | | be given the same meaning as in the Health Insurance | 14 | | Portability and Accountability Act of 1996, Public Law | 15 | | 104-191, or any subsequent amendments thereto, and any | 16 | | regulations promulgated thereunder. | 17 | | (u) Records and information provided to an independent | 18 | | team of experts under the Developmental Disability and | 19 | | Mental Health Safety Act (also known as Brian's Law). | 20 | | (v) Names and information of people who have applied | 21 | | for or received Firearm Owner's Identification Cards under | 22 | | the Firearm Owners Identification Card Act or applied for | 23 | | or received a concealed carry license under the Firearm | 24 | | Concealed Carry Act, unless otherwise authorized by the | 25 | | Firearm Concealed Carry Act; and databases under the | 26 | | Firearm Concealed Carry Act, records of the Concealed |
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| 1 | | Carry Licensing Review Board under the Firearm Concealed | 2 | | Carry Act, and law enforcement agency objections under the | 3 | | Firearm Concealed Carry Act. | 4 | | (v-5) Records of the Firearm Owner's Identification | 5 | | Card Review Board that are exempted from disclosure under | 6 | | Section 10 of the Firearm Owners Identification Card Act. | 7 | | (w) Personally identifiable information which is | 8 | | exempted from disclosure under subsection (g) of Section | 9 | | 19.1 of the Toll Highway Act. | 10 | | (x) Information which is exempted from disclosure | 11 | | under Section 5-1014.3 of the Counties Code or Section | 12 | | 8-11-21 of the Illinois Municipal Code. | 13 | | (y) Confidential information under the Adult | 14 | | Protective Services Act and its predecessor enabling | 15 | | statute, the Elder Abuse and Neglect Act, including | 16 | | information about the identity and administrative finding | 17 | | against any caregiver of a verified and substantiated | 18 | | decision of abuse, neglect, or financial exploitation of | 19 | | an eligible adult maintained in the Registry established | 20 | | under Section 7.5 of the Adult Protective Services Act. | 21 | | (z) Records and information provided to a fatality | 22 | | review team or the Illinois Fatality Review Team Advisory | 23 | | Council under Section 15 of the Adult Protective Services | 24 | | Act. | 25 | | (aa) Information which is exempted from disclosure | 26 | | under Section 2.37 of the Wildlife Code. |
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| 1 | | (bb) Information which is or was prohibited from | 2 | | disclosure by the Juvenile Court Act of 1987. | 3 | | (cc) Recordings made under the Law Enforcement | 4 | | Officer-Worn Body Camera Act, except to the extent | 5 | | authorized under that Act. | 6 | | (dd) Information that is prohibited from being | 7 | | disclosed under Section 45 of the Condominium and Common | 8 | | Interest Community Ombudsperson Act. | 9 | | (ee) Information that is exempted from disclosure | 10 | | under Section 30.1 of the Pharmacy Practice Act. | 11 | | (ff) Information that is exempted from disclosure | 12 | | under the Revised Uniform Unclaimed Property Act. | 13 | | (gg) Information that is prohibited from being | 14 | | disclosed under Section 7-603.5 of the Illinois Vehicle | 15 | | Code. | 16 | | (hh) Records that are exempt from disclosure under | 17 | | Section 1A-16.7 of the Election Code. | 18 | | (ii) Information which is exempted from disclosure | 19 | | under Section 2505-800 of the Department of Revenue Law of | 20 | | the Civil Administrative Code of Illinois. | 21 | | (jj) Information and reports that are required to be | 22 | | submitted to the Department of Labor by registering day | 23 | | and temporary labor service agencies but are exempt from | 24 | | disclosure under subsection (a-1) of Section 45 of the Day | 25 | | and Temporary Labor Services Act. | 26 | | (kk) Information prohibited from disclosure under the |
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| 1 | | Seizure and Forfeiture Reporting Act. | 2 | | (ll) Information the disclosure of which is restricted | 3 | | and exempted under Section 5-30.8 of the Illinois Public | 4 | | Aid Code. | 5 | | (mm) Records that are exempt from disclosure under | 6 | | Section 4.2 of the Crime Victims Compensation Act. | 7 | | (nn) Information that is exempt from disclosure under | 8 | | Section 70 of the Higher Education Student Assistance Act. | 9 | | (oo) Communications, notes, records, and reports | 10 | | arising out of a peer support counseling session | 11 | | prohibited from disclosure under the First Responders | 12 | | Suicide Prevention Act. | 13 | | (pp) Names and all identifying information relating to | 14 | | an employee of an emergency services provider or law | 15 | | enforcement agency under the First Responders Suicide | 16 | | Prevention Act. | 17 | | (qq) Information and records held by the Department of | 18 | | Public Health and its authorized representatives collected | 19 | | under the Reproductive Health Act. | 20 | | (rr) Information that is exempt from disclosure under | 21 | | the Cannabis Regulation and Tax Act. | 22 | | (ss) Data reported by an employer to the Department of | 23 | | Human Rights pursuant to Section 2-108 of the Illinois | 24 | | Human Rights Act. | 25 | | (tt) Recordings made under the Children's Advocacy | 26 | | Center Act, except to the extent authorized under that |
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| 1 | | Act. | 2 | | (uu) Information that is exempt from disclosure under | 3 | | Section 50 of the Sexual Assault Evidence Submission Act. | 4 | | (vv) Information that is exempt from disclosure under | 5 | | subsections (f) and (j) of Section 5-36 of the Illinois | 6 | | Public Aid Code. | 7 | | (ww) Information that is exempt from disclosure under | 8 | | Section 16.8 of the State Treasurer Act. | 9 | | (xx) Information that is exempt from disclosure or | 10 | | information that shall not be made public under the | 11 | | Illinois Insurance Code. | 12 | | (yy) Information prohibited from being disclosed under | 13 | | the Illinois Educational Labor Relations Act. | 14 | | (zz) Information prohibited from being disclosed under | 15 | | the Illinois Public Labor Relations Act. | 16 | | (aaa) Information prohibited from being disclosed | 17 | | under Section 1-167 of the Illinois Pension Code. | 18 | | (bbb) (ccc) Information that is prohibited from | 19 | | disclosure by the Illinois Police Training Act and the | 20 | | Illinois State Police Act. | 21 | | (ccc) (ddd) Records exempt from disclosure under | 22 | | Section
2605-304 of the Illinois Department of State | 23 | | Police Law of the Civil
Administrative Code of Illinois. | 24 | | (ddd) (bbb) Information prohibited from being | 25 | | disclosed under Section 35 of the Address Confidentiality | 26 | | for Victims of Domestic Violence, Sexual Assault, Human |
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| 1 | | Trafficking, or Stalking Act. | 2 | | (eee) (ddd) Information prohibited from being | 3 | | disclosed under subsection (b) of Section 75 of the | 4 | | Domestic Violence Fatality Review Act. | 5 | | (fff) Information that is exempt from disclosure under | 6 | | Section 3-15 of the Public-Private Partnership Act. | 7 | | (Source: P.A. 101-13, eff. 6-12-19; 101-27, eff. 6-25-19; | 8 | | 101-81, eff. 7-12-19; 101-221, eff. 1-1-20; 101-236, eff. | 9 | | 1-1-20; 101-375, eff. 8-16-19; 101-377, eff. 8-16-19; 101-452, | 10 | | eff. 1-1-20; 101-466, eff. 1-1-20; 101-600, eff. 12-6-19; | 11 | | 101-620, eff 12-20-19; 101-649, eff. 7-7-20; 101-652, eff. | 12 | | 1-1-22; 101-656, eff. 3-23-21; 102-36, eff. 6-25-21; 102-237, | 13 | | eff. 1-1-22; 102-292, eff. 1-1-22; 102-520, eff. 8-20-21; | 14 | | 102-559, eff. 8-20-21; revised 10-5-21.) | 15 | | Section 90-10. The Public Funds Investment Act is amended | 16 | | by changing Section 2 as follows:
| 17 | | (30 ILCS 235/2) (from Ch. 85, par. 902)
| 18 | | Sec. 2. Authorized investments.
| 19 | | (a) Any public agency may invest any public funds as | 20 | | follows:
| 21 | | (1) in bonds, notes, certificates of indebtedness, | 22 | | treasury bills or
other securities now or hereafter | 23 | | issued, which are guaranteed by the full
faith and credit | 24 | | of the United States of America as to principal and |
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| 1 | | interest;
| 2 | | (2) in bonds, notes, debentures, or other similar | 3 | | obligations of the
United States of America, its agencies, | 4 | | and its instrumentalities;
| 5 | | (3) in interest-bearing savings accounts, | 6 | | interest-bearing
certificates of deposit or | 7 | | interest-bearing time deposits or any other
investments | 8 | | constituting direct obligations of any bank as defined by | 9 | | the
Illinois Banking Act;
| 10 | | (4) in short-term obligations of corporations
| 11 | | organized in the United States with assets exceeding | 12 | | $500,000,000 if (i)
such obligations are rated at the time | 13 | | of purchase at one of the 3 highest
classifications | 14 | | established by at least 2 standard rating services and
| 15 | | which mature not later than 270 days from the date of | 16 | | purchase, (ii)
such purchases do not exceed 10% of the | 17 | | corporation's outstanding
obligations, and (iii) no more | 18 | | than one-third of the public agency's funds
may be | 19 | | invested in short-term obligations of corporations under | 20 | | this paragraph (4);
| 21 | | (4.5) in obligations of corporations organized in the | 22 | | United States with assets exceeding $500,000,000 if (i) | 23 | | such obligations are rated at the time of purchase at one | 24 | | of the 3 highest classifications established by at least 2 | 25 | | standard rating services and which mature more than 270 | 26 | | days but less than 3 years from the date of purchase, (ii) |
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| 1 | | such purchases do not exceed 10% of the corporation's | 2 | | outstanding obligations, and (iii) no more than one-third | 3 | | of the public agency's funds may be invested in | 4 | | obligations of corporations under this paragraph (4.5); or | 5 | | (5) in money market mutual funds registered under the | 6 | | Investment
Company Act of 1940, provided that the | 7 | | portfolio of any such money market
mutual fund is limited | 8 | | to obligations described in paragraph (1) or (2) of this
| 9 | | subsection and to agreements to repurchase such | 10 | | obligations.
| 11 | | (a-1) In addition to any other investments authorized | 12 | | under this Act, a
municipality, park district, forest preserve | 13 | | district, conservation district, county, or other governmental | 14 | | unit may invest its public funds in interest bearing bonds of | 15 | | any
county, township, city, village, incorporated town, | 16 | | municipal corporation, or
school district, of the State of | 17 | | Illinois, of any other state, or of
any political subdivision | 18 | | or
agency of the State of Illinois or of any other state, | 19 | | whether the interest
earned thereon is taxable or tax-exempt | 20 | | under federal law. The bonds shall
be registered in the name of | 21 | | the municipality, park district, forest preserve district, | 22 | | conservation district, county, or other governmental unit, or | 23 | | held under a custodial agreement at a bank. The bonds shall be | 24 | | rated at the
time of purchase within the 4 highest general | 25 | | classifications established by a
rating service of nationally | 26 | | recognized expertise in rating bonds of states and
their |
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| 1 | | political subdivisions.
| 2 | | (b) Investments may be made only in banks which are | 3 | | insured by the
Federal Deposit Insurance Corporation. Any | 4 | | public agency may invest any
public funds in short term | 5 | | discount obligations of the Federal National
Mortgage | 6 | | Association or in shares or other forms of securities legally
| 7 | | issuable by savings banks or savings and loan associations | 8 | | incorporated under
the laws of this State or any other state or | 9 | | under the laws of the United
States. Investments may be made | 10 | | only in those savings banks or savings and
loan associations | 11 | | the shares, or investment certificates of which are insured
by | 12 | | the Federal Deposit Insurance Corporation. Any such securities | 13 | | may be
purchased at the offering or market price thereof at the | 14 | | time of such
purchase. All such securities so purchased shall | 15 | | mature or be redeemable on
a date or dates prior to the time | 16 | | when, in the judgment of
such governing authority, the public | 17 | | funds so invested will be required
for expenditure by such | 18 | | public agency or its governing authority. The
expressed | 19 | | judgment of any such governing authority as to the time when
| 20 | | any public funds will be required for expenditure or be | 21 | | redeemable is
final and conclusive. Any public agency may | 22 | | invest any public funds in
dividend-bearing share accounts, | 23 | | share certificate accounts or class of
share accounts of a | 24 | | credit union chartered under the laws of this State
or the laws | 25 | | of the United States; provided, however, the principal office
| 26 | | of any such credit union must be located within the State of |
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| 1 | | Illinois.
Investments may be made only in those credit unions | 2 | | the accounts of which
are insured by applicable law.
| 3 | | (c) For purposes of this Section, the term "agencies of | 4 | | the United States
of America" includes: (i) the federal land | 5 | | banks, federal intermediate
credit banks, banks for | 6 | | cooperative, federal farm credit banks, or any other
entity | 7 | | authorized to issue debt obligations under the Farm Credit Act | 8 | | of
1971 (12 U.S.C. 2001 et seq.) and Acts amendatory thereto; | 9 | | (ii) the federal
home loan banks and the federal home loan | 10 | | mortgage corporation; and (iii)
any other agency created by | 11 | | Act of Congress.
| 12 | | (d) Except for pecuniary interests permitted under | 13 | | subsection (f) of
Section 3-14-4 of the Illinois Municipal | 14 | | Code or under Section 3.2 of
the Public Officer Prohibited | 15 | | Practices Act, no person acting as treasurer
or financial | 16 | | officer or who is employed in any similar capacity by or for a
| 17 | | public agency may do any of the following:
| 18 | | (1) have any interest, directly or indirectly, in any | 19 | | investments in
which the agency is authorized to invest.
| 20 | | (2) have any interest, directly or indirectly, in the | 21 | | sellers,
sponsors, or managers of those investments.
| 22 | | (3) receive, in any manner, compensation of any kind | 23 | | from any
investments in which the agency is authorized to | 24 | | invest.
| 25 | | (e) Any public agency may also invest any public funds in a | 26 | | Public
Treasurers' Investment Pool created under Section 17 of |
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| 1 | | the State Treasurer
Act. Any public agency may also invest any | 2 | | public funds in a fund managed,
operated, and administered by | 3 | | a bank, subsidiary of a bank, or
subsidiary of a bank holding | 4 | | company or use the services of such an entity to
hold and | 5 | | invest or advise regarding the investment of any public funds.
| 6 | | (f) To the extent a public agency has custody of funds not | 7 | | owned by it or
another public agency and does not otherwise | 8 | | have authority to invest
such funds, the public agency may | 9 | | invest such funds as if they were its
own. Such funds must be | 10 | | released to the appropriate person at the
earliest reasonable | 11 | | time, but in no case exceeding 31 days, after the
private | 12 | | person becomes entitled to the receipt of them. All earnings
| 13 | | accruing on any investments or deposits made pursuant to the | 14 | | provisions
of this Act shall be credited to the public agency | 15 | | by or for which such
investments or deposits were made, except | 16 | | as provided otherwise in Section
4.1 of the State Finance Act | 17 | | or the Local Governmental Tax Collection Act,
and except where | 18 | | by specific statutory provisions such earnings are
directed to | 19 | | be credited to and paid to a particular fund.
| 20 | | (g) A public agency may purchase or invest in repurchase | 21 | | agreements of
government securities having the meaning set out | 22 | | in the Government
Securities Act of 1986, as now or hereafter | 23 | | amended or succeeded, subject to the provisions of said Act | 24 | | and the
regulations issued thereunder. The government | 25 | | securities, unless
registered or inscribed in the name of the | 26 | | public agency, shall be
purchased through banks or trust |
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| 1 | | companies authorized to do business in the
State of Illinois.
| 2 | | (h) Except for repurchase agreements of government | 3 | | securities which are
subject to the Government Securities Act | 4 | | of 1986, as now or hereafter amended or succeeded, no public | 5 | | agency may
purchase or invest in instruments which constitute | 6 | | repurchase agreements,
and no financial institution may enter | 7 | | into such an agreement with or on
behalf of any public agency | 8 | | unless the instrument and the transaction meet
the following | 9 | | requirements:
| 10 | | (1) The securities, unless registered or inscribed in | 11 | | the name of the
public agency, are purchased through banks | 12 | | or trust companies authorized to
do business in the State | 13 | | of Illinois.
| 14 | | (2) An authorized public officer after ascertaining | 15 | | which firm will give
the most favorable rate of interest, | 16 | | directs the custodial bank to
"purchase" specified | 17 | | securities from a designated institution.
The "custodial | 18 | | bank" is the bank or trust company, or agency of
| 19 | | government, which acts for the public agency in connection | 20 | | with repurchase
agreements involving the investment of | 21 | | funds by the public agency. The
State Treasurer may act as | 22 | | custodial bank for public agencies executing
repurchase | 23 | | agreements. To the extent the Treasurer acts in this | 24 | | capacity,
he is hereby authorized to pass through to such | 25 | | public agencies any charges
assessed by the Federal | 26 | | Reserve Bank.
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| 1 | | (3) A custodial bank must be a member bank of the | 2 | | Federal Reserve System
or maintain accounts with member | 3 | | banks. All transfers of book-entry
securities must be | 4 | | accomplished on a Reserve Bank's computer records
through | 5 | | a member bank of the Federal Reserve System. These | 6 | | securities must
be credited to the public agency on the | 7 | | records of the custodial bank and
the transaction must be | 8 | | confirmed in writing to the public agency by
the custodial | 9 | | bank.
| 10 | | (4) Trading partners shall be limited to banks or | 11 | | trust companies
authorized to do business in the State of | 12 | | Illinois or to registered primary
reporting dealers.
| 13 | | (5) The security interest must be perfected.
| 14 | | (6) The public agency enters into a written master | 15 | | repurchase agreement
which outlines the basic | 16 | | responsibilities and liabilities of both buyer and
seller.
| 17 | | (7) Agreements shall be for periods of 330 days or | 18 | | less.
| 19 | | (8) The authorized public officer of the public agency | 20 | | informs the
custodial bank in writing of the maturity | 21 | | details of the repurchase agreement.
| 22 | | (9) The custodial bank must take delivery of and | 23 | | maintain the
securities in its custody for the account of | 24 | | the public agency and confirm
the transaction in writing | 25 | | to the public agency. The Custodial Undertaking
shall | 26 | | provide that the custodian takes possession of the |
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| 1 | | securities
exclusively for the public agency; that the | 2 | | securities are free of any
claims against the trading | 3 | | partner; and any claims by the custodian are
subordinate | 4 | | to the public agency's claims to rights to those | 5 | | securities.
| 6 | | (10) The obligations purchased by a public agency may | 7 | | only be sold or
presented for redemption or payment by the | 8 | | fiscal agent bank or trust
company holding the obligations | 9 | | upon the written instruction of the
public agency or | 10 | | officer authorized to make such investments.
| 11 | | (11) The custodial bank shall be liable to the public | 12 | | agency for any
monetary loss suffered by the public agency | 13 | | due to the failure of the
custodial bank to take and | 14 | | maintain possession of such securities.
| 15 | | (i) Notwithstanding the foregoing restrictions on | 16 | | investment in
instruments constituting repurchase agreements | 17 | | the Illinois Housing
Development Authority may invest in, and | 18 | | any financial institution with
capital of at least | 19 | | $250,000,000 may act as custodian for, instruments
that | 20 | | constitute repurchase agreements, provided that the Illinois | 21 | | Housing
Development Authority, in making each such investment, | 22 | | complies with the
safety and soundness guidelines for engaging | 23 | | in repurchase transactions
applicable to federally insured | 24 | | banks, savings banks, savings and loan
associations or other | 25 | | depository institutions as set forth in the Federal
Financial | 26 | | Institutions Examination Council Policy Statement Regarding
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| 1 | | Repurchase Agreements and any regulations issued, or which may | 2 | | be issued by the
supervisory federal authority pertaining | 3 | | thereto and any amendments thereto;
provided further that the | 4 | | securities shall be either (i) direct general
obligations of, | 5 | | or obligations the payment of the principal of and/or interest
| 6 | | on which are unconditionally guaranteed by, the United States | 7 | | of America or
(ii) any obligations of any agency, corporation | 8 | | or subsidiary thereof
controlled or supervised by and acting | 9 | | as an instrumentality of the United
States Government pursuant | 10 | | to authority granted by the Congress of the United
States and | 11 | | provided further that the security interest must be perfected | 12 | | by
either the Illinois Housing Development Authority, its | 13 | | custodian or its agent
receiving possession of the securities | 14 | | either physically or transferred through
a nationally | 15 | | recognized book entry system.
| 16 | | (i-5) In addition to all other investments authorized | 17 | | under this Section, a public agency may invest in a financial | 18 | | arrangement that finances a qualifying project authorized | 19 | | under Article 8 of the Public-Private Partnership Act. | 20 | | (j) In addition to all other investments authorized
under | 21 | | this Section, a community college district may
invest public | 22 | | funds in any mutual funds that
invest primarily in corporate | 23 | | investment grade or global government short term
bonds.
| 24 | | Purchases of mutual funds that invest primarily in global | 25 | | government short
term bonds shall be limited to funds with | 26 | | assets of at least $100 million and
that are rated at the time |
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| 1 | | of purchase as one of the 10 highest classifications
| 2 | | established by a recognized rating service. The investments | 3 | | shall be subject
to approval by the local community college | 4 | | board of trustees. Each community
college board of trustees | 5 | | shall develop a policy regarding the percentage of
the | 6 | | college's investment portfolio that can be invested in such | 7 | | funds.
| 8 | | Nothing in this Section shall be construed to authorize an
| 9 | | intergovernmental risk management entity to accept the deposit | 10 | | of public funds
except for risk management purposes.
| 11 | | (Source: P.A. 102-285, eff. 8-6-21.)".
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