Senate Sponsors: WEAVER,S-RAUSCHENBERGER. Short description: GENERAL OBLIGATION BOND ACT Synopsis of Bill as introduced: Amends the General Obligation Bond Act and Build Illinois Bond Act. Effective immediately. STATE DEBT NOTE (Economic and Fiscal Commission) Assuming an interest rate of 4.75% and a 25 year level repay- ment period, the additional $625.8 million in bonding authority would increase total General Obligation debt by approximately $1.1 billion and require an annual debt service payment of approximately $43.2 million. The additional $25.0 million in Build Illinois bonding authority increases total Build Illinois debt by approximately $42.1 million and requires an annual debt service payment of approximately $1.7 million. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status