90th General Assembly
Summary of SB1612
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Short description: 
MWRD-LOCAL GOV ASSISTANCE PROG                                             

Synopsis of Bill as introduced:
        Amends  the  Metropolitan   Water   Reclamation   District   Act.      
   Authorizes  the  District  to  create  a  Local  Government Assistance      
   Program for the purpose of making loans to units of  local  government      
   to  finance  improvements  to  local sewerage systems.  Authorizes the      
   District to issue bonds to finance the  program.   Provides  that  the      
   bonds  may  be  payable  from  any available revenues of the District,      
   including loan repayments.  Deletes certain provisions relating to the      
   Local Improvement Revolving Loan Fund and the  sale  of  surplus  real      
   estate.   Also  makes a technical correction to the list of bonds that      
   may be issued by the  District  without  referendum,  adding  a  cross      
   reference  to  the  Section under which construction working cash fund      
   bonds may be issued.  Effective immediately.                                
        SENATE AMENDMENT NO. 1.                                                
        Deletes references  to  alternate  bonds.    Specifies  that  the      
   assistance  bonds are revenue bonds. Deletes provision authorizing the      
   District to pledge revenues.                                                
        SENATE AMENDMENT NO. 2.                                                
        Deletes a  provision  authorizing  the  extension  of  collection      
Last action on Bill: PUBLIC ACT.............................. 90-0690

   Last action date: 98-07-31

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   2


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