HB1158 EngrossedLRB104 06162 RTM 16196 b HB1158 Engrossed LRB104 06162 RTM 16196 b
HB1158 Engrossed LRB104 06162 RTM 16196 b
1 AN ACT concerning local government.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Metropolitan Water Reclamation District Act
5 is amended by changing Section 9.6a as follows:
6 (70 ILCS 2605/9.6a) (from Ch. 42, par. 328.6a)
7 Sec. 9.6a. Bonds for sewage treatment, water quality, and
8 facility improvements. The corporate authorities of a sanitary
9 district, in order to provide funds required for the
10 replacing, remodeling, completing, altering, constructing and
11 enlarging of sewage treatment works, administrative buildings,
12 water quality improvement projects, distributed renewable
13 energy generation devices, or flood control facilities, and
14 additions therefor, pumping stations, tunnels, conduits,
15 intercepting sewers and outlet sewers, together with the
16 equipment, including air pollution equipment, and
17 appurtenances thereto, to acquire property, real, personal or
18 mixed, necessary for said purposes, for costs and expenses for
19 the acquisition of the sites and rights-of-way necessary
20 thereto, and for engineering expenses for designing and
21 supervising the construction of such works, may issue on or
22 before December 31, 2034, in addition to all other obligations
23 heretofore or herein authorized, bonds, notes, or other
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1 evidences of indebtedness for such purposes in an aggregate
2 amount at any one time outstanding not to exceed 3.35% of the
3 equalized assessed valuation of all taxable property within
4 the sanitary district, to be ascertained by the last
5 assessment for State and local taxes previous to the issuance
6 of any such obligations. Such obligations shall be issued
7 without submitting the question of such issuance to the legal
8 voters of such sanitary district for approval.
9 The corporate authorities may sell such obligations at
10 private or public sale and enter into any contract or
11 agreement necessary, appropriate or incidental to the exercise
12 of the powers granted by this Act, including, without
13 limitation, contracts or agreements for the sale and purchase
14 of such obligations and the payment of costs and expenses
15 incident thereto. The corporate authorities may pay such costs
16 and expenses, in whole or in part, from the corporate fund.
17 Such obligations shall be issued from time to time only in
18 amounts as may be required for such purposes but the amount of
19 such obligations issued during any one budget year shall not
20 exceed $250,000,000 $150,000,000 plus the amount of any
21 obligations authorized by this Act to be issued during the 3
22 budget years next preceding the year of issuance but which
23 were not issued, provided, however, that this limitation shall
24 not be applicable (i) to the issuance of obligations to refund
25 bonds, notes or other evidences of indebtedness, (ii) to
26 obligations issued to provide for the repayment of money
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1 received from the Water Pollution Control Revolving Fund for
2 the construction or repair of wastewater treatment works, and
3 (iii) to obligations issued as part of the American Recovery
4 and Reinvestment Act of 2009, issued prior to January 1, 2011,
5 that are commonly known as "Build America Bonds" as authorized
6 by Section 54AA of the Internal Revenue Code of 1986, as
7 amended. Each ordinance authorizing the issuance of the
8 obligations shall state the general purpose or purposes for
9 which they are to be issued, and the corporate authorities may
10 at any time thereafter pass supplemental appropriations
11 ordinances appropriating the proceeds from the sale of such
12 obligations for such purposes.
13 Notwithstanding anything to the contrary in Section 9.6 or
14 this Section, and in addition to any other amount of bonds
15 authorized to be issued under this Act, the corporate
16 authorities are authorized to issue from time to time bonds of
17 the district in a principal amount not to exceed $600,000,000
18 for the purpose of making contributions to the pension fund
19 established under Article 13 of the Illinois Pension Code
20 without submitting the question of issuing bonds to the voters
21 of the District. Any bond issuances under this paragraph are
22 intended to decrease the unfunded liability of the pension
23 fund and shall not decrease the amount of the employer
24 contributions required in any given year under Section 13-503
25 of the Illinois Pension Code.
26 The corporate authorities may issue bonds, notes or other
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1 evidences of indebtedness in an amount necessary to provide
2 funds to refund outstanding obligations issued pursuant to
3 this Section, including interest accrued or to accrue thereon.
4 (Source: P.A. 102-707, eff. 4-22-22; 103-299, eff. 1-1-24.)
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