Full Text of HB5305 94th General Assembly
HB5305enr 94TH GENERAL ASSEMBLY
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| AN ACT concerning local government.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 1. Short title. This Act may be cited as the | 5 |
| Chanute-Rantoul National Aviation Center Redevelopment | 6 |
| Commission Act. | 7 |
| Section 5. Purpose. The purpose of this Act is to | 8 |
| facilitate and promote the economic and environmental | 9 |
| redevelopment of the area formerly known as Chanute Air Force | 10 |
| Base. | 11 |
| Section 10. Definitions. In this Act:
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| "Aviation Center" means the Rantoul National Aviation | 13 |
| Center Airport. | 14 |
| "Board" means the Board of Directors of the Chanute-Rantoul | 15 |
| National Aviation Center Redevelopment Commission. | 16 |
| "Commercial project" means any project,
including, but not | 17 |
| limited to,
one or more buildings and other structures, | 18 |
| improvements, machinery, and
equipment whether or not on the | 19 |
| same site, suitable for use by any retail or
wholesale concern,
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| distributorship, or agency, any cultural facilities of a | 21 |
| for-profit or
not-for-profit type, including, but not limited | 22 |
| to, educational, theatrical,
recreational, and entertainment | 23 |
| facilities, sports facilities, racetracks,
stadiums,
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| convention centers, exhibition halls, arenas, opera houses, | 25 |
| theaters,
swimming pools, restaurants, velodromes, coliseums, | 26 |
| sports training facilities,
parking facilities, terminals, | 27 |
| terminal facilities, hotels and motels, gymnasiums, and | 28 |
| medical
facilities. | 29 |
| "Commission" means the Chanute-Rantoul National Aviation | 30 |
| Center Redevelopment Commission.
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| "Comprehensive plan" means a plan (which may include |
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| several redevelopment
plans) setting forth a comprehensive | 2 |
| process or scheme for the redevelopment of
the area within the | 3 |
| territorial jurisdiction of the Commission.
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| "Construct or acquire" means to plan, design, build, | 5 |
| reconstruct, improve,
modify, extend, landscape, expand or | 6 |
| obtain possession of property by way of gift or
purchase.
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| "Industrial project" means (1) a
capital
project, | 8 |
| including one or
more buildings and other structures, | 9 |
| improvements, machinery, and equipment,
whether or not on the | 10 |
| same site, suitable for use by any manufacturing,
industrial, | 11 |
| research,
transportation, or commercial enterprise including | 12 |
| but not limited to use
as a factory, mill, processing plant, | 13 |
| assembly plant, packaging plant,
fabricating plant, office | 14 |
| building, industrial distribution center,
warehouse, repair, | 15 |
| overhaul, or service facility, freight terminal, research
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| facility, test facility, railroad facility, solid waste and | 17 |
| wastewater
treatment and disposal sites and other pollution | 18 |
| control facilities,
resource or waste reduction, recovery, | 19 |
| treatment, and disposal facilities,
including the sites and | 20 |
| other rights in land therefor,
site preparation and landscaping | 21 |
| and all
appurtenances and facilities incidental thereto such as | 22 |
| utilities, access
roads, railroad sidings, truck docking, and | 23 |
| similar facilities, parking
facilities, railroad roadbed, | 24 |
| track, trestle, depot,
terminal, switching and signaling | 25 |
| equipment, or related equipment and other
improvements | 26 |
| necessary or convenient thereto; or (2) any land, buildings,
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| machinery, or equipment comprising an addition to or | 28 |
| renovation,
rehabilitation, or improvement of any existing | 29 |
| capital project. | 30 |
| "Member" means a member of the Board.
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| "Person" includes, without limitation, an individual,
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| corporation, partnership, unincorporated association, and any | 33 |
| other legal
entity, including a trustee, receiver, assignee, or | 34 |
| personal representative of
the entity.
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| "Project" means an industrial or commercial project or
any | 36 |
| combination thereof, provided that all uses
fall within one of |
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| those categories. The term "project" includes removal of | 2 |
| environmental hazards in buildings, demolition of | 3 |
| uninhabitable buildings, building and leasing new industrial | 4 |
| and commercial ventures, and working with the Village to manage | 5 |
| and develop the Aviation Center to support the establishment of | 6 |
| an intermodal transportation center. The term "project" also | 7 |
| includes
all site improvements and
new construction involving | 8 |
| sidewalks, sewers, solid waste and wastewater
treatment and | 9 |
| disposal sites and other pollution control facilities,
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| resource or waste reduction, recovery, treatment, and disposal | 11 |
| facilities,
parks, open spaces, wildlife sanctuaries, streets, | 12 |
| highways, and runways.
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| "Redevelopment plan" means any one or more plans approved | 14 |
| or adopted by the
Commission setting forth programs or | 15 |
| procedures for one or more
projects and the protection of | 16 |
| adjacent areas, and all administrative, funding,
and financial | 17 |
| details and proposals necessary to effectuate the plan. | 18 |
| "Terminal" means a public place, station, or depot
for | 19 |
| receiving and
delivering passengers, baggage, mail, freight, | 20 |
| or express matter and any
combination thereof in connection | 21 |
| with the transportation of
persons and property on land, by | 22 |
| air, or both. | 23 |
| "Terminal facilities" means all land,
buildings, | 24 |
| structures,
improvements, equipment, and appliances useful in | 25 |
| the operation of public
warehouse, storage, and transportation | 26 |
| facilities and industrial,
manufacturing, or commercial | 27 |
| activities for the accommodation of or in
connection with | 28 |
| commerce by land. | 29 |
| "Village" means the Village of Rantoul. | 30 |
| Section 15. Chanute-Rantoul National Aviation Center | 31 |
| Redevelopment Commission; creation. | 32 |
| (a) The Chanute-Rantoul National Aviation Center | 33 |
| Redevelopment Commission is created as a political
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| subdivision, body politic, and municipal corporation of the | 35 |
| State. The territorial jurisdiction of the Commission shall |
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| extend over all of
the 1,400 acres, more or less, under public | 2 |
| control, within the area commonly known and described as | 3 |
| Chanute Air Force Base, and the entire 2,125 acres of the area | 4 |
| commonly known and described as Chanute Air Force Base that is | 5 |
| under public control for the purposes of underground | 6 |
| infrastructure issues. | 7 |
| (b) The governing body of the Commission shall be a Board | 8 |
| of Directors consisting of 7 public members appointed by the | 9 |
| Village President, with the advice and consent of the Village | 10 |
| Board, and the following ex-officio, non-voting members: | 11 |
| (1) The Director of Commerce and Economic Opportunity, | 12 |
| or his or her designee; | 13 |
| (2) The Director of the Illinois Environmental | 14 |
| Protection Agency, or his or her designee; | 15 |
| (3) The President of the Village of Rantoul, or his or | 16 |
| her designee; and | 17 |
| (4) The Chair of the Rantoul Plan Commission or another | 18 |
| Rantoul Plan Commission member designated to represent the | 19 |
| Plan Commission. | 20 |
| All public members must reside within East Central | 21 |
| Illinois. Five members shall constitute a quorum. | 22 |
| All persons appointed as public members must have | 23 |
| recognized ability and experience in one or more of the | 24 |
| following areas: economic development, finance, banking, | 25 |
| industrial development, real estate development, | 26 |
| transportation, logistics, community development, or venture | 27 |
| capital finance. | 28 |
| The members shall elect the following officers from among | 29 |
| the public members of the Commission: Chair, Vice-Chair, | 30 |
| Treasurer, and Secretary. The officers shall serve for a term | 31 |
| prescribed by the Commission. | 32 |
| All members of the Commission shall serve without | 33 |
| compensation for their services as members but may be | 34 |
| reimbursed for all necessary expenses incurred in connection | 35 |
| with the performance of their duties as members. | 36 |
| (c) The terms of all members shall begin 30 days after the |
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| effective date of this Act. Of the initial appointees, one | 2 |
| member shall serve for a term of 2 years, 2 members shall serve | 3 |
| for a term of 3 years, 2 members shall serve for a term of 4 | 4 |
| years, and 2 members shall serve for a term of 5 years. All | 5 |
| successors shall serve 5-year terms, except in case of an | 6 |
| appointment to fill a vacancy. Vacancies occurring among the | 7 |
| public members shall be filled for the remainder of the term. | 8 |
| (d) The
Board shall determine the general policy of the | 9 |
| Commission, approve its annual budget, make all | 10 |
| appropriations, adopt all resolutions and
ordinances providing | 11 |
| for the issuance of bonds or notes by the Commission,
adopt its | 12 |
| bylaws, rules, and regulations, and have such other
powers and | 13 |
| duties as may be prescribed in this Act. | 14 |
| Section 20. Official acts; duty to promote development. | 15 |
| (a) All official acts of the Commission shall require the | 16 |
| affirmative vote of at least 5 public members. | 17 |
| (b) It shall be the duty of the Commission to promote | 18 |
| development within the territorial jurisdiction of the | 19 |
| Commission. The Commission shall use the powers conferred upon | 20 |
| it in this Act to assist in the development, construction, and | 21 |
| acquisition of industrial and commercial projects within the | 22 |
| territorial jurisdiction of the Commission and shall have the | 23 |
| authority to (i) act as public developer in carrying out | 24 |
| development programs for the publicly-held properties within | 25 |
| the territorial jurisdiction of the Commission; (ii) make | 26 |
| available adequate management, administrative, technical, | 27 |
| financial, and other assistance necessary for encouraging a | 28 |
| defined, organized, planned, scheduled, diversified, and | 29 |
| economically, technologically, and environmentally sound | 30 |
| community environment within the territorial jurisdiction of | 31 |
| the Commission and to do so through the use of management | 32 |
| procedures and programs that rely, to the maximum extent | 33 |
| possible, on private enterprise; (iii) provide a conduit for | 34 |
| the State and federal governments to make their resources | 35 |
| available to the Commission; (iv) encourage the fullest use of |
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| the economic potential of commercial and industrial building | 2 |
| sites at reasonable costs to support the Rantoul National | 3 |
| Aviation Center Airport and the goals of any redevelopment area | 4 |
| within the territorial jurisdiction of the Commission that was | 5 |
| established under Division 74.4 of the Illinois Municipal Code; | 6 |
| (v) plan, assist, develop, build and construct, or finance any | 7 |
| facility or project that is within the mission of the | 8 |
| Commission to enhance the community environment and provide | 9 |
| technological management, when requested to do so by the | 10 |
| Village. | 11 |
| Section 25. Powers. | 12 |
| (a) The
Commission possesses all the powers of a body | 13 |
| corporate necessary and convenient to accomplish the purposes | 14 |
| of this Act, including, but not limited to, the following | 15 |
| powers: | 16 |
| (1) to sue and be sued in its corporate name; | 17 |
| (2) to apply for and accept gifts, grants, or loans of | 18 |
| funds or property, financial, or other aid from any public | 19 |
| agency or private entity; | 20 |
| (3) to acquire, hold, sell, lease as lessor or lessee, | 21 |
| deal in, lend, transfer, convey, donate or otherwise | 22 |
| dispose of real or personal property, or interests in the | 23 |
| property, under procedures set by the Commission and for | 24 |
| consideration in the best interests of the Rantoul National | 25 |
| Aviation Center Airport and the community; | 26 |
| (4) to enter into loans, contracts, agreements, and | 27 |
| mortgages in any matter connected with any of its corporate | 28 |
| purposes and to invest its funds; | 29 |
| (5) to implement the comprehensive plan for the | 30 |
| redevelopment of the area within the territorial | 31 |
| jurisdiction of the Commission that is adopted by the | 32 |
| Village and to assist the Village in updating the | 33 |
| comprehensive plan; | 34 |
| (6) to create, develop, and implement redevelopment | 35 |
| plans for the territorial jurisdiction of the Commission, |
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| which may include commercial and industrial uses; | 2 |
| (7) to prepare, submit, and administer plans, and to | 3 |
| participate in projects or
intergovernmental agreements, | 4 |
| or both, and to create reserves for planning,
constructing, | 5 |
| reconstructing, acquiring, owning, managing, insuring, | 6 |
| leasing,
equipping, extending, improving, operating, | 7 |
| maintaining, and repairing land and
projects that the | 8 |
| Commission owns or leases; | 9 |
| (8) to provide for the insurance, including | 10 |
| self-insurance, of any property or operations of the | 11 |
| Commission or its members, directors, and employees, | 12 |
| against any risk or hazard, and to indemnify its members, | 13 |
| agents, independent contractors, directors, and employees | 14 |
| against any risk or hazard; | 15 |
| (9) to appoint, retain, employ, and set compensation | 16 |
| rates for its agents, independent contractors, and | 17 |
| employees to carry out its powers and functions; | 18 |
| specifically the administrative officer of the Village | 19 |
| shall serve as Executive Director of the Commission, and | 20 |
| the Comptroller of the Village shall serve as the Financial | 21 |
| Officer of the Commission; | 22 |
| (10) to acquire and accept by purchase, lease, gift, or | 23 |
| otherwise any property or rights from any persons, any | 24 |
| municipal corporation, body politic, or agency of the State | 25 |
| or of the federal government or directly from the State or | 26 |
| the federal government, useful for the purposes of the | 27 |
| Commission, and apply for and accept grants, matching | 28 |
| grants, loans, or appropriations from the State or the | 29 |
| federal government, or any agency or instrumentality of the | 30 |
| State or the federal government to be used for any of the | 31 |
| purposes of the Commission, and to enter into any agreement | 32 |
| with the State or federal government in relation to those | 33 |
| grants, matching grants, loans, or appropriations; | 34 |
| (11) to exercise the right of eminent domain by | 35 |
| condemnation proceedings, in the manner provided by | 36 |
| Article VII of the Illinois Code of Civil Procedure, to |
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| acquire private property for the lawful purposes of the | 2 |
| Commission or to carry out a comprehensive plan or | 3 |
| redevelopment plan; | 4 |
| (12) to fix and collect just, reasonable, and | 5 |
| nondiscriminatory charges
and rents for the use of | 6 |
| Commission property and services. The charges
collected | 7 |
| may be used to defray the reasonable expenses of the
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| Commission and to pay the principal of and the interest on | 9 |
| any bonds issued by
the Commission; | 10 |
| (13) to install, repair, construct, reconstruct, or | 11 |
| relocate streets, roads, alleys, sidewalks, utilities, and | 12 |
| site improvements essential to the preparation of the area | 13 |
| within the territorial jurisdiction of the Commission for | 14 |
| use in accordance with the redevelopment plan; | 15 |
| (14) to enter into redevelopment agreements with other | 16 |
| units of local government relating to sharing taxes and | 17 |
| other revenues and sharing, limiting, and transferring | 18 |
| land use planning, subdivision, and zoning powers; and | 19 |
| (15) to borrow money for the corporate purposes of the | 20 |
| Commission and, in evidence of its obligations to repay the | 21 |
| borrowing, issue its negotiable revenue bonds or notes for | 22 |
| any of its corporate purposes, including, but not limited | 23 |
| to, the following: paying for costs of planning, | 24 |
| constructing, reconstructing, acquiring, owning, leasing, | 25 |
| equipping, or improving any publicly-owned land within the | 26 |
| territorial jurisdiction of the Commission, paying | 27 |
| interest and principal on bonds, paying for legal, | 28 |
| financial, and administrative consulting costs related to | 29 |
| any debt financing, and creating reserves.
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| (b) Any financial arrangements made by the Commission must | 31 |
| expressly benefit the operations in order to keep the Aviation | 32 |
| Center a viable and financially stable entity of the Village of | 33 |
| Rantoul. | 34 |
| Section 30. Bonds or notes. | 35 |
| (a) The Commission shall have the power to issue bonds or |
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| notes for the purpose of developing, constructing, acquiring, | 2 |
| or improving projects, including, without limitation, those | 3 |
| established by business entities locating or expanding | 4 |
| property within the territorial jurisdiction of the | 5 |
| Commission. | 6 |
| (b) Any bonds or notes issued under this Section by the | 7 |
| Commission shall
be authorized by resolution or ordinance of | 8 |
| the Board adopted
by the affirmative vote of 5 of the | 9 |
| Directors. The action of the Commission
authorizing the | 10 |
| issuance of the bonds may be effective immediately upon its
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| adoption and shall describe in a general way any project | 12 |
| contemplated to be
financed by the bonds or notes, set forth | 13 |
| the estimated cost of the project,
and determine the project's | 14 |
| period of usefulness. The authorizing resolution
or
ordinance | 15 |
| shall determine the maturity or maturities of the bonds or | 16 |
| notes,
the denominations, the rate or rates at which the bonds | 17 |
| or notes are to bear
interest, and all the other terms and | 18 |
| details of the bonds or notes. The bonds
or notes may be issued | 19 |
| as serial bonds payable in installments or as term bonds
with | 20 |
| or without sinking fund installments or
a combination of the | 21 |
| serial bonds and term bonds. All bonds or notes
shall mature | 22 |
| within the period of estimated usefulness of the project for
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| which the bonds or notes are issued, as determined by the | 24 |
| Board, but
in any event not more than 50 years from their date | 25 |
| of issue. The bonds and
notes may bear interest at the rates | 26 |
| the resolution or ordinance
provides, notwithstanding any | 27 |
| other provision of law, and shall be payable at
the times | 28 |
| determined in the resolution or ordinance. Bonds or notes of | 29 |
| the
Commission shall be
sold in the manner that the Board | 30 |
| determines, either at par
or at a premium, or at discount. | 31 |
| (c) In connection with the issuance of its bonds or notes, | 32 |
| the
Commission may enter into arrangements to provide | 33 |
| additional security and
liquidity for its obligations, | 34 |
| including but not limited to, municipal bond
insurance, letters | 35 |
| of credit, lines of credit by which the Commission may
borrow | 36 |
| funds to pay or redeem its obligations, and purchase or |
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| remarketing
arrangements for assuring the ability of owners of | 2 |
| the obligations to sell or
to have redeemed the obligations. | 3 |
| The Commission may enter into contracts and
may agree to pay | 4 |
| fees to persons providing those arrangements, including from
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| bond or note proceeds. | 6 |
| (d) The Commission's action authorizing the issuance of | 7 |
| bonds
or notes may provide that interest rates may vary | 8 |
| depending
on criteria set forth in the resolution or ordinance, | 9 |
| including, but not limited
to, variation of interest rates as | 10 |
| may be necessary to cause bonds or notes to
be remarketable at | 11 |
| a price equal to their principal amount,
and may provide for | 12 |
| appointment of a national banking association, bank trust
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| company, investment banker, or other financial institution to | 14 |
| serve as a
remarketing agent in that connection. | 15 |
| Notwithstanding any other provision of
law, the resolution or | 16 |
| ordinance of the Commission authorizing the issuance of
its | 17 |
| bonds or notes may provide that alternative interest rates or | 18 |
| provisions
will apply when the bonds or notes are held by a | 19 |
| person
providing a letter of credit or other credit enhancement | 20 |
| arrangement for those
bonds or notes. | 21 |
| (e) The authorization of the issuance of any bonds or notes | 22 |
| under this
subsection shall constitute a contract with the | 23 |
| holders of the bonds and notes.
The resolution or ordinance may | 24 |
| contain such covenants and restrictions
regarding the project | 25 |
| and the contracts, the
issuance of additional bonds or notes by | 26 |
| the Commission, the security for the
bonds and notes, and any | 27 |
| other matters deemed necessary or advisable
by the Board to | 28 |
| assure the payment of the bonds or notes of the Commission. | 29 |
| (f) The resolution or ordinance authorizing the issuance of | 30 |
| bonds or
notes by the Commission shall provide for the | 31 |
| application of
revenues derived from the operation of the | 32 |
| Commission's projects,
revenues received from its members | 33 |
| including revenue from contracts for the
use of the | 34 |
| Commission's projects, and revenues from its investment | 35 |
| earnings to
the payment of the operating expenses of the | 36 |
| projects; the provision of
adequate depreciation, reserve, or |
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| replacement funds for the
project, planned projects, and bonds | 2 |
| or notes; and the payment of
principal, premium, and interest | 3 |
| on the bonds or notes of the
Commission,
including amounts for | 4 |
| the purchase of the bonds or notes. The resolution or
ordinance | 5 |
| may provide that revenues of the Commission so derived and | 6 |
| other
receipts of the Commission which may be applied to those | 7 |
| purposes shall be
placed in separate funds and used for those | 8 |
| purposes and also may provide that
revenues not required for | 9 |
| those purposes may be used for any proper purpose of
the | 10 |
| Commission or may be returned to members. Any notes of the | 11 |
| Commission may,
in
addition, be secured by a pledge of proceeds | 12 |
| of bonds to be issued by the
Commission, as specified in the | 13 |
| resolution or ordinance authorizing the
issuance of the notes. | 14 |
| (g) All bonds and notes of the Commission issued under this | 15 |
| subsection
shall
be revenue bonds or notes. The bonds or notes | 16 |
| shall have no claim for payment
other than from revenues of the | 17 |
| Commission derived from the operation of its
projects, revenues | 18 |
| received from its members, including from contracts for
the use | 19 |
| of the Commission's projects, bond or note proceeds,
other | 20 |
| receipts of the Commission, and investment earnings on the | 21 |
| foregoing, all as and to the
extent as provided in the | 22 |
| resolution or ordinance of the Board authorizing the
issuance | 23 |
| of the bonds or notes. Bonds or notes issued by the Commission | 24 |
| under
this Section shall not constitute an indebtedness of the | 25 |
| Commission or of
any
member within the meaning of any | 26 |
| constitutional or statutory limitation. It
shall be plainly | 27 |
| stated on each bond and note that it does not constitute an
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| indebtedness of the Commission or of any member within the | 29 |
| meaning of any
constitutional or statutory limitation. | 30 |
| (h) As long as any bonds or notes of the Commission created | 31 |
| under this
subsection are outstanding and unpaid, the | 32 |
| Commission shall not terminate or
dissolve. The
Commission | 33 |
| shall establish fees and charges for its operations sufficient | 34 |
| to
provide adequate revenues to meet all of the requirements | 35 |
| under its various
resolutions authorizing bonds or notes. | 36 |
| (i) A holder of any bond or note issued under this |
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| subsection may, in any
civil action, mandamus, or other | 2 |
| proceeding, enforce and compel performance of
all duties | 3 |
| required to be performed by the Commission as set forth in the
| 4 |
| authorizing resolution or ordinance, or any members of the | 5 |
| Commission or other
persons
contracting with the Commission in | 6 |
| connection with any of the Commission's
projects, including the | 7 |
| imposition of fees and charges, the collection of
sufficient | 8 |
| revenues, and the proper application of revenues as provided in | 9 |
| this
subsection. | 10 |
| (j) In addition, the resolution or ordinance authorizing | 11 |
| any bonds or
notes
issued under this subsection may provide for | 12 |
| a pledge, assignment, lien, or
security interest, for the | 13 |
| benefit of the holders of any or all bonds or notes
of the | 14 |
| Commission, (i) on any and all revenues derived from any | 15 |
| contracts for
the use of the Commission's projects and | 16 |
| investment earnings of the projects,
(ii) on
any and all | 17 |
| revenues received from its members, or (iii) on funds or | 18 |
| accounts
securing the payment of the bonds or notes as provided | 19 |
| in the authorizing
resolution. Any such pledge, assignment, | 20 |
| lien, or security interest for the benefit
of holders of bonds | 21 |
| or notes shall be valid and binding from the time the bonds
or | 22 |
| notes are issued, without any physical delivery or further act, | 23 |
| and shall be
valid and binding against or before any claims of | 24 |
| any other party having any
claims of any kind against the | 25 |
| Commission irrespective of whether the other
parties have | 26 |
| notice of the pledge, assignment, lien, or security interest. | 27 |
| (k) A resolution or ordinance of the Board authorizing the | 28 |
| issuance of
bonds or notes under this subsection may provide | 29 |
| for the appointment of a
corporate trustee for any or all of | 30 |
| the bonds or notes,
and, in that event, shall prescribe the
| 31 |
| rights, duties, and powers of the trustee to be exercised for | 32 |
| the benefit of
the Commission and the protection of the holders | 33 |
| of the bonds or notes. The
trustee may be any trust company or | 34 |
| state or national bank having the power of
a trust company | 35 |
| within Illinois. The
resolution or ordinance may provide for | 36 |
| the trustee to
hold in trust, invest, and use amounts in funds |
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| and accounts created by
the resolution or ordinance. The | 2 |
| resolution or ordinance may also provide for
the
assignment and | 3 |
| direct payment to the trustee of amounts owed by members and
| 4 |
| other persons to the Commission under contracts for the use of | 5 |
| or access to the
Commission's projects, for application by the | 6 |
| trustee to the purposes for which
the revenues are to be used | 7 |
| as provided in this subsection and as provided in
the | 8 |
| authorizing resolution. Upon receipt of the assignment, the | 9 |
| member or
other person shall make the assigned payments | 10 |
| directly to the
trustee. | 11 |
| Section 35. Annual report. The Authority shall annually | 12 |
| submit a report of its
finances to the Auditor General. The | 13 |
| Authority shall annually submit a report of its activities to | 14 |
| the Governor
and to the General Assembly.
| 15 |
| Section 40. Anti-trust laws; State action exemption; tort | 16 |
| immunity; tax
exemption. | 17 |
| (a) The Commission is hereby expressly made the beneficiary | 18 |
| of the
provisions of Section 1 of the Local Government | 19 |
| Antitrust Exemption Act,
and the General Assembly intends that | 20 |
| the State action exemption
to
the application of the federal | 21 |
| anti-trust laws be fully available to the
Commission to the | 22 |
| extent its activities are either (i) expressly or by
necessary | 23 |
| implication authorized by this Act or other Illinois law; or | 24 |
| (ii)
within traditional areas of local governmental activity. | 25 |
| (b) Members of the Commission, and their present and former | 26 |
| officers,
employees, agents, and independent contractors shall | 27 |
| have the same immunities
as established by the Local | 28 |
| Governmental and Governmental Employees Tort
Immunity Act. | 29 |
| (c) Property, income, and receipts of or transactions by | 30 |
| the Commission
shall be exempt from all taxation, the same as | 31 |
| if it were the property, income,
or transaction of a city or | 32 |
| county. | 33 |
| Section 45. Commission not to have taxing power. The |
|
|
|
HB5305 Enrolled |
- 14 - |
LRB094 18679 HLH 54259 b |
|
| 1 |
| Commission shall not have power to levy
taxes for any purpose | 2 |
| whatsoever except as provided with respect to Special Service | 3 |
| Districts and Tax Increment Financing
Districts. | 4 |
| Section 50. Termination of the Commission. If the | 5 |
| Commission terminates or dissolves, all assets of the | 6 |
| Commission shall revert to the Village.
| 7 |
| Section 99. Effective date. This Act takes effect upon | 8 |
| becoming law.
|
|