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| 1 | AN ACT concerning local government.
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| 2 | Be it enacted by the People of the State of Illinois, | |||||||||||||||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Metropolitan Water Reclamation District Act | |||||||||||||||||||
| 5 | is amended by changing Section 9.6a as follows:
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| 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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