State of Illinois
91st General Assembly
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Public Act 91-0626

SB834 Enrolled                                 LRB9106023MWpk

    AN ACT concerning research parks.

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

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

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

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

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

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

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