State of Illinois
91st General Assembly

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SB834 Enrolled                                 LRB9106023MWpk

 1        AN ACT concerning research parks.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Research Park Authority  Act  is
 5    amended  by changing Sections 1-5, 1-10, 1-20, 1-45, and 1-70
 6    as follows:

 7        (20 ILCS 3850/1-5)
 8        Sec. 1-5.  Legislative findings; declaration of purpose.
 9        (a)  The General Assembly determines and declares that:
10             (i)  the State is in need  of  substantial  economic
11        development;
12             (ii)  the   availability   of  suitable  facilities,
13        technological  resources,  and  the   superior   research
14        capacity  of  the  institutions  of  higher education and
15        research parks adjacent to a federal laboratory or one or
16        more federal research agencies located in the  State  are
17        important   inducements   to   private  and  governmental
18        enterprises to locate and remain within the State;
19             (iii)  a significant function of  government  is  to
20        increase  opportunities for gainful employment, to assist
21        in promoting a productive economy, to encourage the  flow
22        of   private   capital   for   investment  in  productive
23        enterprises, and to  otherwise  improve  the  prosperity,
24        health,  and  general  welfare  of the inhabitants of the
25        State;
26             (iv)  support  for  university-affiliated   research
27        parks and research parks adjacent to a federal laboratory
28        or  one  or  more  federal research agencies in the State
29        will help promote technological and economic  development
30        in  the  State  through  the location of high technology,
31        research,  development,  scientific,  and   related   and
SB834 Enrolled             -2-                 LRB9106023MWpk
 1        ancillary or support businesses in the State; and
 2             (v)  private  industry,  and  research universities,
 3        and research parks adjacent to a  federal  laboratory  or
 4        one or more federal research agencies in the State should
 5        be   encouraged   and   supported  in  their  efforts  to
 6        facilitate economic development within the State.
 7        (b)  The purposes of the Authority  established  by  this
 8    Act are:
 9             (i)  to advance the general welfare of the people of
10        the State;
11             (ii)  to  increase  the opportunities for employment
12        of citizens of Illinois;
13             (iii)  to   develop   the   human,   economic,   and
14        productive resources of Illinois;
15             (iv)  to promote  and  encourage  expansion  of  the
16        research and development sector, with emphasis on capital
17        formation  and  investments  in  research and development
18        within Illinois;
19             (v)  to promote cooperative research efforts between
20        the private sector and Illinois research universities and
21        research parks adjacent to a federal laboratory or one or
22        more research agencies, and to strengthen the partnership
23        among State government, higher  education,  and  business
24        and industry;
25             (vi)  to  maximize  the research capabilities of the
26        universities in Illinois; and
27             (vii)  to  enhance  Illinois  as  a  leader  in  the
28        research, development, testing and implementation of  new
29        advances in science and technology and in the transfer of
30        new scientific and technological discoveries and advances
31        from   the   research   and  prototype  stage  to  useful
32        industrial and commercial applications.
33    (Source: P.A. 88-669, eff. 11-29-94.)
SB834 Enrolled             -3-                 LRB9106023MWpk
 1        (20 ILCS 3850/1-10)
 2        Sec. 1-10.  Definitions.  As used in this Act:
 3        "Authority" means the Illinois  Research  Park  Authority
 4    created by this Act.
 5        "Bond resolution" means the resolution or resolutions and
 6    the  trust  agreement  or  indenture,  if any, authorizing or
 7    providing for the terms and conditions  applicable  to  bonds
 8    issued under this Act.
 9        "Bonds"   means   bonds,  notes  or  other  evidences  of
10    indebtedness  of  the  Authority  issued  under   this   Act,
11    including refunding bonds.
12        "Federal research agency" means any federal department or
13    agency  that  sponsors  research  and development activities,
14    including but not limited to, the  National  Aeronautics  and
15    Space Administration and the Department of Energy.
16        "Federal  laboratory"  means  any laboratory owned by the
17    federal government and operated by the federal government  or
18    a  contractor  for  the  purposes  of conducting research and
19    development or any associated activity.
20        "Person"  means  an  individual,  corporation,  unit   of
21    government,  business  trust,  estate,  trust, partnership or
22    association, 2 or more  persons  having  a  joint  or  common
23    interest,  limited  liability  company,  or  any  other legal
24    entity.
25        "Project" means the acquisition, construction,  creation,
26    installation,    development,   redevelopment,   improvement,
27    refurbishment,  or  rehabilitation  of  any   property   that
28    comprises  a  part of, or is or will be located, constructed,
29    or installed in or upon, or is related  to  the  development,
30    use,  or operation of a university-related research park or a
31    research park adjacent to a federal laboratory or one or more
32    federal research agencies, for use  by  any  person,  whether
33    public   or   private,   for-profit  or  not-for-profit;  the
34    financing or refinancing of any of the foregoing,  including,
SB834 Enrolled             -4-                 LRB9106023MWpk
 1    without   limitation,   the   refunding   or  refinancing  of
 2    outstanding  indebtedness   previously   incurred   for   the
 3    financing  of  any "project", whether or not the indebtedness
 4    was issued by the Authority; and all costs and expenses  that
 5    may  be  necessary  or  related  to the foregoing, including,
 6    without  limitation,  architectural,   design,   engineering,
 7    construction,  legal, financing, consulting, surveying, title
 8    insurance and accounting  activities,  services,  costs,  and
 9    expenses,  together  with interest on bonds issued to finance
10    any "project" to a  date  twelve  months  subsequent  to  the
11    estimated date of completion.
12        "Property" means real, personal, or mixed property of any
13    and every kind, or any interest or estate therein, including,
14    without  limitation:  land,  other real property of any kind,
15    appurtenances, buildings, structures, improvements, rights of
16    way, easements, equipment, furnishings, furniture, machinery,
17    utilities,  traffic  control  equipment,  railroad   sidings,
18    track,  railroad  roadbed, trestle, depot, terminal switching
19    and signaling  or  related  equipment,  docking  and  similar
20    facilities,   parking   facilities,  dockage,  wharfage,  and
21    personal property of any and every kind.
22        "Research  park"  means  a   center   of   research   and
23    development activity located in the State that:
24             (1)  includes among its objectives or activities the
25        encouragement    of   the   formation   and   growth   of
26        knowledge-based industries and organizations on site,
27             (2)  has a  management  function  that  is  actively
28        engaged  in  encouraging  or facilitating the transfer of
29        technology and business skills to tenants or other  users
30        of the research park, and
31             (3)  includes  land  and infrastructure and also one
32        or more of the following (whether  sponsored  by  one  or
33        more  universities  or  any  other  person  or  persons):
34        research   or   development   institutes,   laboratories,
SB834 Enrolled             -5-                 LRB9106023MWpk
 1        offices,   businesses,   or   facilities;  scientific  or
 2        technical testing,  production  or  assembly  facilities;
 3        prototype  scientific,  engineering,  technical, testing,
 4        information, computer, or computer  software  institutes,
 5        businesses, laboratories, offices, or facilities; related
 6        business,  university,  or  government installations; and
 7        supporting   services,   including   without   limitation
 8        conference   centers,    hotels,    retail    facilities,
 9        restaurants, and transportation facilities.
10        "Research  university"  means  (i)  a  public  or private
11    university  located  in  the  State  that  in  the  preceding
12    calendar year was both among the 100 universities located  in
13    the  United  States  that  received  the  largest  amount  of
14    financial  support  from the United States government or (ii)
15    any public university located in the State that is one of the
16    sponsors of a research park established prior to  January  1,
17    1989.
18        "Revenues" means, with respect to any project, the rents,
19    fees,  charges,  and  other income or profit derived from the
20    project or other moneys made available.
21        "State" means the State of Illinois.
22        "Unit of government" means the  federal  government,  the
23    State,  a unit of local government, a school district, or any
24    agency  or  instrumentality,  office,  officer,   department,
25    division, bureau, commission, college, or university thereof.
26        "University-related  research park" means a research park
27    (i) that is directly or indirectly sponsored by,  and  has  a
28    direct   or  indirect  formal  relationship  with,  either  a
29    research  university  or  a  research  university   and   the
30    municipality  in  which  the  research  park  or the research
31    university is located, and (ii) in which at least 45% of  the
32    underlying land is legally or beneficially owned, directly or
33    indirectly,  either  jointly or severally, by any one or more
34    of the research universities that sponsor the research  park,
SB834 Enrolled             -6-                 LRB9106023MWpk
 1    the  municipality  in which the research park or the research
 2    university is located,  or  a  corporation  or  other  person
 3    directly  or indirectly owned or controlled by one or both of
 4    the research universities and the municipality.  For purposes
 5    of the preceding sentence, any land of which the  fee  simple
 6    ownership or remainder estate is owned directly or indirectly
 7    by  a  university, a municipality, or another person shall be
 8    deemed  to  be  legally  and  beneficially   owned   by   the
 9    university,  municipality,  or  other person, notwithstanding
10    that all or any part of the land may have been leased,  under
11    long-term or short-term leases, or may be subject to purchase
12    rights  or  options,  to  or  in favor of one or more persons
13    other than the university, municipality, or other person.
14    (Source: P.A. 88-669, eff. 11-29-94.)

15        (20 ILCS 3850/1-20)
16        Sec. 1-20.  Members of Authority; terms; vacancies.
17        (a)  The  governing  and  administrative  powers  of  the
18    Authority shall be  vested  in  a  body  consisting  of  9  7
19    members, to be appointed by the Governor, with the advice and
20    consent of the Senate.  All of the members shall be residents
21    of  the  State.   All  of  the  members shall have recognized
22    ability and experience in one or more of the following areas:
23    higher  education,  research  and  development,  science  and
24    technology,   economic   development,    finance,    banking,
25    industrial    development,    business    administration   or
26    management, real estate development,  community  development,
27    venture  finance,  organized  labor,  or civic, community, or
28    neighborhood organization.  A Chairman and Vice  Chairman  of
29    the  Board  shall be elected by the Board annually from among
30    its members.
31        (b)  The terms of all members of the Board shall begin 30
32    days after the effective date of this Act.   Of  the  members
33    initially  appointed by the Governor, 3 shall serve until the
SB834 Enrolled             -7-                 LRB9106023MWpk
 1    third Monday in January, 1996, 2 shall serve until the  third
 2    Monday  in  January,  1997, and 2 shall serve until the third
 3    Monday in January, 1998.  Each successor shall hold office of
 4    a term of 4 years commencing the third Monday in  January  of
 5    the  year  in which his or her term commences, except in case
 6    of an appointment to fill a vacancy.  In case of vacancy when
 7    the Senate is  not  in  session,  the  Governor  may  make  a
 8    temporary  appointment  until  the next meeting of the Senate
 9    when a person shall be nominated to fill the office, and  any
10    person so nominated who is confirmed by the Senate shall hold
11    office during the remainder of the term and until a successor
12    is appointed and qualified.
13    (Source: P.A. 88-669, eff. 11-29-94.)

14        (20 ILCS 3850/1-45)
15        Sec.  1-45.  General powers.  The Authority possesses all
16    the powers of a body corporate necessary  and  convenient  to
17    accomplish  the  purposes of this Act, including, without any
18    intended limitation upon the general powers hereby conferred,
19    all of the following:
20        (a)  To enter into loans, contracts, mortgages, or  other
21    agreements  in  furtherance  of  any  project approved by the
22    Authority or otherwise in any matter connected  with  any  of
23    its corporate purposes.
24        (b)  To invest the funds of the Authority.
25        (c)  To sue and be sued.
26        (d)  To   employ   agents,   employees,  and  independent
27    contractors necessary to carry out its corporate purposes and
28    to fix their compensation, benefits, and terms and conditions
29    of their employment.
30        (e)  To have and use a common seal and to alter the  seal
31    at its discretion.
32        (f)  To  adopt  all  necessary  ordinances,  resolutions,
33    by-laws,  and  rules  for  the  conduct  of  its business and
SB834 Enrolled             -8-                 LRB9106023MWpk
 1    affairs and for  the  management  and  use  of  the  projects
 2    developed, constructed, acquired, and improved in furtherance
 3    of its corporate purposes.
 4        (g)  To  designate  and  change  the  fiscal year for the
 5    Authority.
 6        (h)  To accept and expend appropriations for any  purpose
 7    of the Authority.
 8        (i)  To  receive  and  accept  from any public or private
 9    source loans, contributions, donations, or grants for  or  in
10    aid  of  any  project  or  any  portion  of  a project or any
11    university-related research park or a research park  adjacent
12    to  a  federal  laboratory  or  one  or more federal research
13    agencies in either money, property, labor, or other things of
14    value and, when required, to  use  the  funds,  property,  or
15    labor  only  for  the  purposes  for  which  it  was  loaned,
16    contributed, or granted.
17        (j)  To  make  loans to refund outstanding obligations or
18    advances issued, made, or given for the cost of a project.
19        (k)  To fix, determine,  charge,  and  collect  premiums,
20    fees,   charges,  costs,  and  expenses,  including,  without
21    limitation, application fees, commitment fees, program  fees,
22    financing  charges,  and  publication fees from any person in
23    connection with its activities under this Act.
24        (l)  To create and establish reserve funds  and  accounts
25    that may be necessary or desirable to accomplish its purposes
26    under  this  Act and to deposit its available monies into the
27    funds and accounts.
28        (m)  To  charge  to  and  apportion  among  projects  the
29    administrative costs and expenses of the  Authority  incurred
30    in  the  exercise  of the powers and duties conferred by this
31    Act.
32        (n)  To acquire,  construct,  maintain,  manage,  repair,
33    operate,  or  provide  financing  for  or financial or credit
34    support   or   assistance   to,   any    project    or    any
SB834 Enrolled             -9-                 LRB9106023MWpk
 1    university-related research park or research park adjacent to
 2    a federal laboratory or one or more federal research agencies
 3    ,  and  to  enter into contracts to provide for any or all of
 4    these activities.
 5        (o)  To acquire from any person by purchase, lease, gift,
 6    or otherwise any property or rights in  property  useful  for
 7    its  purposes,  whether  improved  for  the  purposes  of any
 8    prospective  project,  or  unimproved;  provided,  that   the
 9    Authority  has  no  independent power of condemnation but may
10    acquire any property or  rights  in  property  obtained  upon
11    condemnation  by any other authority, governmental entity, or
12    unit of local government with such power.
13        (p)  To develop, construct, and improve, either under its
14    own direction or  through  collaboration  with  any  approved
15    applicant,  or  to acquire through purchase or otherwise, any
16    project, using for this purpose the proceeds derived from the
17    sale of its bonds, from governmental loans or grants, or from
18    any other legally authorized and  available  source,  and  to
19    hold title in the name of the Authority to these projects.
20        (q)  To lease, under one or more lease agreements, all or
21    parts  of  a project so developed and constructed or acquired
22    to  the  approved  lessee  or  lessees  on  such  terms   and
23    conditions  as  may be appropriate to further the purposes of
24    this Act and to maintain the credit of the Authority.
25        (r)  To sell  or  lease,  upon  the  termination  of  any
26    leasehold  period of any project, for a further term or terms
27    the project on the terms and conditions  that  the  Authority
28    deems  reasonable  and  consistent  with the purposes of this
29    Act, with the net proceeds from all sales and the revenues or
30    income from the leases to be used to  satisfy  any  bonds  or
31    other  indebtedness  of  the  Authority  with  respect to the
32    project and any balance used  to  pay  any  expenses  of  the
33    Authority   or   be   used   for   the  further  development,
34    construction, acquisition, or improvement of projects.
SB834 Enrolled             -10-                LRB9106023MWpk
 1        (s)  To have and exercise all powers and  be  subject  to
 2    all  duties  usually  incident  to  boards  of  directors  of
 3    corporations.
 4    (Source: P.A. 88-669, eff. 11-29-94.)

 5        (20 ILCS 3850/1-70)
 6        Sec.  1-70.  Combining  projects  for financing purposes.
 7    The Authority may issue a single bond issue  under  this  Act
 8    for  one  or  more  projects,  one or more university-related
 9    research parks, one or more  research  parks  adjacent  to  a
10    federal  laboratory or one or more federal research agencies,
11    or any  combination  thereof.   A  bond  issue  for  multiple
12    projects  as provided in this Section shall be subject to all
13    requirements for bond issues as established by this Act.
14    (Source: P.A. 88-669, eff. 11-29-94.)

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