Bill Text: IL SB0337 | 2011-2012 | 97th General Assembly | Amended
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Amends the Public Library Construction Act. Makes a technical change in a Section concerning the short title.
Spectrum: Moderate Partisan Bill (Democrat 18-5)
Status: (Failed) 2013-01-08 - Session Sine Die [SB0337 Detail]
Download: Illinois-2011-SB0337-Amended.html
Bill Title: Amends the Public Library Construction Act. Makes a technical change in a Section concerning the short title.
Spectrum: Moderate Partisan Bill (Democrat 18-5)
Status: (Failed) 2013-01-08 - Session Sine Die [SB0337 Detail]
Download: Illinois-2011-SB0337-Amended.html
| |||||||
| |||||||
| |||||||
1 | AMENDMENT TO SENATE BILL 337
| ||||||
2 | AMENDMENT NO. ______. Amend Senate Bill 337 by replacing | ||||||
3 | everything after the enacting clause with the following:
| ||||||
4 | "Section 5. The State Finance Act is amended by changing | ||||||
5 | Sections 6a-1,
6a-1a, 6a-1b, 6a-1c, 6a-1d, 6a-1e, 6a-1f, 6a-1g, | ||||||
6 | and 6d as follows:
| ||||||
7 | (30 ILCS 105/6a-1) (from Ch. 127, par. 142a1)
| ||||||
8 | Sec. 6a-1. Southern Illinois University Income Fund.
| ||||||
9 | (1) Beginning on the effective date of this amendatory
Act | ||||||
10 | of 1996, The following items of income received by the Southern
| ||||||
11 | Illinois University for general operational and educational | ||||||
12 | purposes
shall be retained by the University in its own | ||||||
13 | treasury and credited to
an account known as the University | ||||||
14 | Income Fund that it shall establish in its
treasury for | ||||||
15 | purposes of this paragraph
paid into the State Treasury
without | ||||||
16 | delay and shall be deposited into a special fund to be known as |
| |||||||
| |||||||
1 | the
Southern Illinois University Income Fund : (a) tuition and | ||||||
2 | laboratory fees not
pledged to discharge obligations arising | ||||||
3 | out of the issuance of revenue bonds,
library fees, and all
any | ||||||
4 | interest which may be earned thereon not
later than 20 days | ||||||
5 | after receipt of the same without any deductions except for
| ||||||
6 | refunds to students for whom duplicate payments have been made | ||||||
7 | and to students
who have withdrawn after registration and are | ||||||
8 | entitled to such refunds ; and
(b) excess income from auxiliary | ||||||
9 | enterprises and
activities as provided in paragraph (2) of this | ||||||
10 | Section, and all other
income arising out of any activity or | ||||||
11 | purpose not specified in paragraph
(2) of this Section or in | ||||||
12 | Sections 6a-2 or 6a-3 upon
not later than 10
days after receipt | ||||||
13 | of the same without any deduction whatever. Such items of
| ||||||
14 | income shall be either paid into the State treasury or | ||||||
15 | deposited into a
college or university bank account within the | ||||||
16 | time period established for like
amounts in Section 2 of the | ||||||
17 | State Officers and Employees Money Disposition
Act . Within 10 | ||||||
18 | days after the effective date of this amendatory Act of 1996,
| ||||||
19 | all moneys then remaining in the Southern Illinois University | ||||||
20 | Income Fund
heretofore established as a special fund in the | ||||||
21 | State treasury that were
covered and paid into that fund by the | ||||||
22 | University shall be repaid to the
University upon the warrant | ||||||
23 | of the State Comptroller, directed to the State
Treasurer as an | ||||||
24 | order to pay the sum required to be repaid under this paragraph
| ||||||
25 | and shown as due on the warrant. The University shall deposit | ||||||
26 | the amount so
repaid to it in a college or university bank |
| |||||||
| |||||||
1 | account within the time period
established for like amounts in | ||||||
2 | Section 2 of the State Officers and Employees
Money Disposition | ||||||
3 | Act, to be credited to the University Income Fund established
| ||||||
4 | by the University in its own treasury for purposes of this | ||||||
5 | paragraph. All
moneys
from time to time held in the University | ||||||
6 | Income Fund in the treasury of the
University shall be used by | ||||||
7 | the University, pursuant to the order and direction
of the | ||||||
8 | Board of Trustees of the University, for the support and | ||||||
9 | improvement of
the University, except for amounts disbursed | ||||||
10 | from that University Income Fund
for refunds to students for | ||||||
11 | whom duplicate payment has been made and to
students who have | ||||||
12 | withdrawn after registration and who are entitled to such
| ||||||
13 | refunds ; provided, that if deposited into a bank account, such | ||||||
14 | items
together with interest thereon shall be paid into the | ||||||
15 | State
treasury as provided in the preceding sentence. The | ||||||
16 | General Assembly
shall from time to time make appropriations | ||||||
17 | payable from such fund for
the support and improvement of | ||||||
18 | Southern Illinois University .
| ||||||
19 | (2) The following items of income shall be retained by the
| ||||||
20 | University in its own treasury: endowment funds, gifts, trust | ||||||
21 | funds, and
Federal aid; funds received in connection with | ||||||
22 | contracts with
governmental, public, or private agencies or | ||||||
23 | persons, for research or
services including funds which are | ||||||
24 | paid as reimbursement to the
University; funds received in | ||||||
25 | connection with reserves authorized by
Section 8a of the | ||||||
26 | Southern Illinois University Management Act;
funds received in |
| |||||||
| |||||||
1 | connection with its operation of medical
research and high | ||||||
2 | technology parks and with the retention, receipt,
assignment, | ||||||
3 | license, sale or transfer of interests in, rights to, or income
| ||||||
4 | from discoveries, inventions, patents, or copyrightable works; | ||||||
5 | funds retained
by the University under the authority of
| ||||||
6 | Sections 6a-2 and 6a-3; and funds received from the operation | ||||||
7 | of student
or staff residence facilities, student and staff | ||||||
8 | medical and health
programs, Union buildings, bookstores, | ||||||
9 | farms, stores, and other
auxiliary enterprises or activities | ||||||
10 | which are self-supporting in whole
or in part. Any income | ||||||
11 | derived from such auxiliary enterprises or
activities which is | ||||||
12 | not necessary to their support, maintenance, or
development | ||||||
13 | shall not, however, be applied to any general operational or
| ||||||
14 | educational purposes but shall be retained by the University in | ||||||
15 | its own
treasury and credited to the University Income Fund | ||||||
16 | that it shall establish in
its treasury
paid into the State | ||||||
17 | treasury as
provided in paragraph (1) of this Section.
| ||||||
18 | Whenever such funds retained by the University in its own | ||||||
19 | treasury are
deposited with a bank or savings and loan | ||||||
20 | association and the amount of the
deposit exceeds the amount of | ||||||
21 | federal deposit insurance coverage, a bond or
pledged | ||||||
22 | securities shall be obtained.
Only the types of securities | ||||||
23 | which the State Treasurer may, in his
discretion, accept for | ||||||
24 | amounts not insured by the Federal Deposit Insurance
| ||||||
25 | Corporation or the Federal Savings and Loan Insurance | ||||||
26 | Corporation under
Section 11 of the Deposit of State Moneys |
| |||||||
| |||||||
1 | Act, may be accepted as pledged
securities. The market value of | ||||||
2 | the
bond or pledged securities shall at all times be equal to | ||||||
3 | or greater than
the uninsured portion of the deposit.
| ||||||
4 | The Auditor General shall audit or cause to be audited the | ||||||
5 | above
items of income and all other income and expenditures of | ||||||
6 | such institution.
| ||||||
7 | (3) The provisions of this Section, as amended by this | ||||||
8 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
9 | received by the University
on or after July 1, 2011. Moneys | ||||||
10 | held by the University in the University
Income Fund that was | ||||||
11 | created under this Section pursuant to Public Act 89-602
may be | ||||||
12 | expended as authorized by that Public Act, but no additional | ||||||
13 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
14 | (Source: P.A. 89-602, eff. 8-2-96.)
| ||||||
15 | (30 ILCS 105/6a-1a)
| ||||||
16 | Sec. 6a-1a. Northern Illinois University Income Fund.
| ||||||
17 | (1) Beginning on the effective date of this amendatory Act
| ||||||
18 | of 1996, The following items of income received by Northern | ||||||
19 | Illinois
University for general operational and educational | ||||||
20 | purposes shall be retained
by the University in its own | ||||||
21 | treasury and credited to an account known as the
University | ||||||
22 | Income Fund that it shall establish in its treasury for | ||||||
23 | purposes of
this paragraph
paid into the State treasury without | ||||||
24 | delay and
shall be deposited into a special fund to be known as | ||||||
25 | the Northern
Illinois University Income Fund : (a) tuition and |
| |||||||
| |||||||
1 | laboratory fees not
pledged to discharge obligations arising | ||||||
2 | out of the issuance of revenue
bonds, library fees, all
and any | ||||||
3 | interest which may be earned thereon
not later
than 20 days | ||||||
4 | after receipt of the same without any deductions except for
| ||||||
5 | refunds to students for whom duplicate payments have been made | ||||||
6 | and to students
who have withdrawn after registration and are | ||||||
7 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
8 | enterprises and
activities as provided in paragraph (2) of this | ||||||
9 | Section, and all other
income arising out of any activity or | ||||||
10 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
11 | Section upon
not later than 10 days after
receipt of the same | ||||||
12 | without any deduction whatever.
Within 10 days after the | ||||||
13 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
14 | held in the Northern Illinois University Income Fund | ||||||
15 | established in
the State treasury that have been covered and | ||||||
16 | paid into that fund by or on
behalf of that University shall be | ||||||
17 | repaid to the University upon the warrant of
the State | ||||||
18 | Comptroller, directed to the State Treasurer as an order to pay | ||||||
19 | the
sum required to be repaid under this paragraph and shown as | ||||||
20 | due on the warrant.
The University shall deposit the amount so | ||||||
21 | repaid to it in a university bank
account within the time | ||||||
22 | period established for like amounts in Section 2 of the
State | ||||||
23 | Officers and Employees Money Disposition Act, to be credited to | ||||||
24 | the
University Income Fund established by the University in its | ||||||
25 | own treasury for
purposes of this paragraph. All moneys from | ||||||
26 | time to time held in the
University Income Fund in the treasury |
| |||||||
| |||||||
1 | of the University shall be used by the
University, pursuant to | ||||||
2 | the order and direction of the Board of Trustees of the
| ||||||
3 | University, for the support and improvement of the University, | ||||||
4 | except for
amounts disbursed from that University Income Fund | ||||||
5 | for refunds to students for
whom duplicate payment has been | ||||||
6 | made and to students who have withdrawn after
registration and | ||||||
7 | who are entitled to such refunds.
The General Assembly
shall | ||||||
8 | from time to time make appropriations payable from such fund | ||||||
9 | for
the support and improvement of Northern Illinois | ||||||
10 | University.
| ||||||
11 | (2) The following items of income shall be retained by the
| ||||||
12 | University in its own treasury: endowment funds, gifts, trust | ||||||
13 | funds, and
Federal aid; funds received in connection with | ||||||
14 | contracts with
governmental, public, or private agencies or | ||||||
15 | persons, for research or
services including funds which are | ||||||
16 | paid as reimbursement to the
University; funds received in | ||||||
17 | connection with reserves authorized by
Section 30-60 of the | ||||||
18 | Northern Illinois University Law;
funds received in connection | ||||||
19 | with its operation of
research and high technology parks and | ||||||
20 | with the retention, receipt,
assignment, license, sale or | ||||||
21 | transfer of interests in, rights to, or income
from | ||||||
22 | discoveries, inventions, patents, or copyrightable works; | ||||||
23 | funds retained
by the University under the authority of
| ||||||
24 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
25 | from the
operation of student
or staff residence facilities, | ||||||
26 | student and staff medical and health
programs, Union buildings, |
| |||||||
| |||||||
1 | bookstores, farms, stores, and other
auxiliary enterprises or | ||||||
2 | activities which are self-supporting in whole
or in part. Any | ||||||
3 | income derived from such auxiliary enterprises or
activities | ||||||
4 | which is not necessary to their support, maintenance, or
| ||||||
5 | development shall not, however, be applied to any general | ||||||
6 | operational or
educational purposes but shall be retained by | ||||||
7 | the University in its own
treasury and credited to the | ||||||
8 | University Income Fund that it shall establish in
its treasury
| ||||||
9 | paid into the State treasury as
provided in paragraph (1) of | ||||||
10 | this Section.
| ||||||
11 | (3) The Board of Trustees of Northern Illinois University
| ||||||
12 | may retain in its
treasury any funds derived from rentals, | ||||||
13 | service charges and laboratory and
building service charges or | ||||||
14 | other sources, assessed or obtained for or
arising out of the | ||||||
15 | operation of any building or buildings or structure or
| ||||||
16 | structures and pledged to discharge obligations created in | ||||||
17 | order to
complete or operate such building or structure, or for | ||||||
18 | the payment of
revenue bonds issued for such University by the | ||||||
19 | Teachers College Board, the
Board of Governors of State | ||||||
20 | Colleges and Universities, the Board of Regents, or
the Board | ||||||
21 | of Trustees of Northern Illinois University, such funds
to be | ||||||
22 | disbursed from
time to time pursuant to the order and direction | ||||||
23 | of the Board of Trustees
of Northern Illinois University,
and | ||||||
24 | in accordance with any contracts, pledges, trusts or
agreements | ||||||
25 | heretofore made with respect thereto by the Teachers College | ||||||
26 | Board,
the Board of Governors of State Colleges and |
| |||||||
| |||||||
1 | Universities or the Board of
Regents, or hereafter made by the | ||||||
2 | Board of Trustees of Northern Illinois
University.
| ||||||
3 | (4) The Board of Trustees of Northern Illinois University | ||||||
4 | may also retain in
its treasury, out of student fees and | ||||||
5 | tuition, such sums annually as the
Board determines are | ||||||
6 | necessary to supplement revenue derived from any
building or | ||||||
7 | buildings constructed or acquired on or after the effective
| ||||||
8 | date of this amendatory Act of 1995, or to
supplement revenues | ||||||
9 | derived from any building or buildings having bonds
outstanding | ||||||
10 | thereon which bonds have heretofore been issued for the | ||||||
11 | University
by the Teachers College Board, the Board of | ||||||
12 | Governors of State Colleges and
Universities or the Board of | ||||||
13 | Regents and which bonds are refunded under the
provisions of | ||||||
14 | the Act under which they were issued or under the provisions
of | ||||||
15 | any other law of this State authorizing the refunding of such | ||||||
16 | bonds,
and may pledge or by resolution may make a supplementary
| ||||||
17 | allocation of the funds so retained out of students' fees and | ||||||
18 | tuition for
the retirement of such bonds as may be issued under | ||||||
19 | any such Act or law. Such
funds as
are so pledged shall | ||||||
20 | annually be credited to the account to which the
pledge | ||||||
21 | applies. Such funds as are supplementarily allocated by Board
| ||||||
22 | resolution subsequent to the resolution creating the bonds | ||||||
23 | shall be
credited in accordance with the terms of the | ||||||
24 | resolution making such
supplementary allocation to the account | ||||||
25 | to which the allocation applies.
The Board may authorize such | ||||||
26 | supplementation only after a determination by
it that the |
| |||||||
| |||||||
1 | maximum revenues which may reasonably and economically be
| ||||||
2 | derived from the operation of a building proposed to be | ||||||
3 | constructed or
acquired under the Act under which the bonds | ||||||
4 | therefor are issued will be
insufficient to meet the costs
of | ||||||
5 | operation and maintenance and to pay the principal of and | ||||||
6 | interest on
bonds so issued for such building, or after a | ||||||
7 | determination by it that the
maximum revenues which may | ||||||
8 | reasonably and economically be derived from the
operation of a | ||||||
9 | building already constructed or acquired under the Act under
| ||||||
10 | which the bonds therefor were issued are
or will be | ||||||
11 | insufficient to meet the costs of operation and maintenance and
| ||||||
12 | to pay the principal of and interest on bonds issued for such | ||||||
13 | building. In
no event shall the supplementation from University | ||||||
14 | income be in excess of
an amount which, when added to the | ||||||
15 | revenues to be derived from the
operation of the building or | ||||||
16 | buildings, will be sufficient to meet the
annual debt service | ||||||
17 | requirements on the bonds issued in respect to such
building or | ||||||
18 | buildings, the annual cost of maintenance or operation of such
| ||||||
19 | building or buildings, and to provide for such reserves, | ||||||
20 | accounts or
covenants which the resolution authorizing the | ||||||
21 | issuing of such bonds may
require.
| ||||||
22 | (5) The Board of Trustees of Northern Illinois University | ||||||
23 | may also retain
in its treasury (a) all moneys received from | ||||||
24 | the sale of all bonds issued
under the Northern Illinois | ||||||
25 | University Revenue Bond Law,
(b) all fees,
rentals and other | ||||||
26 | charges from students, staff members and others using or
being |
| |||||||
| |||||||
1 | served by, or having the right to use or the right to be served | ||||||
2 | by,
or to operate any project acquired under the Northern | ||||||
3 | Illinois University
Revenue Bond Law, (c) all tuition,
| ||||||
4 | registration, matriculation, health, hospital, medical, | ||||||
5 | laboratory,
admission, student activities, student services, | ||||||
6 | and all other fees
collected from students matriculated, | ||||||
7 | registered or otherwise enrolled at
and attending the | ||||||
8 | University pledged under the terms of any resolution
| ||||||
9 | authorizing bonds, or authorizing a supplemental allocation of | ||||||
10 | fees for
debt service of bonds theretofore issued pursuant to | ||||||
11 | the Northern Illinois
University Revenue Bond Law, and (d)
all | ||||||
12 | rentals from any facility or building acquired under the | ||||||
13 | Northern Illinois
University Revenue Bond Law and
leased to the | ||||||
14 | United States of America.
| ||||||
15 | (6) Whenever funds retained by the University in its own | ||||||
16 | treasury as
provided in this Section are
deposited with a bank | ||||||
17 | or savings and loan association and the amount of the
deposit | ||||||
18 | exceeds the amount of federal deposit insurance coverage, a | ||||||
19 | bond or
pledged securities shall be obtained.
Only the types of | ||||||
20 | securities which the State Treasurer may, in his
discretion, | ||||||
21 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
22 | Corporation or the Federal Savings and Loan Insurance | ||||||
23 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
24 | may be accepted as pledged
securities.
The market value of the | ||||||
25 | bond or
pledged securities shall at all times be equal to or | ||||||
26 | greater than the
uninsured portion of the deposit.
|
| |||||||
| |||||||
1 | (7) The Auditor General shall audit or cause to be audited | ||||||
2 | all items
of income referred to in this Section and all other | ||||||
3 | income and expenditures
of the University.
| ||||||
4 | (8) The provisions of this Section, as amended by this | ||||||
5 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
6 | received by the University
on or after July 1, 2011. Moneys | ||||||
7 | held by the University in the University
Income Fund that was | ||||||
8 | created under this Section pursuant to Public Act 89-602
may be | ||||||
9 | expended as authorized by that Public Act, but no additional | ||||||
10 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
11 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
12 | (30 ILCS 105/6a-1b)
| ||||||
13 | Sec. 6a-1b. Illinois State University Income Fund.
| ||||||
14 | (1) Beginning on the effective date of this amendatory Act | ||||||
15 | of
1996, The following items of income received by
Illinois | ||||||
16 | State University for general operational and educational | ||||||
17 | purposes
shall be retained by the University in its own | ||||||
18 | treasury and credited to an
account known as the University | ||||||
19 | Income Fund that it shall establish in its
treasury for | ||||||
20 | purposes of this paragraph
paid into the State treasury without | ||||||
21 | delay and
shall be deposited into a special fund to be known as | ||||||
22 | the
Illinois State University Income Fund : (a) tuition and | ||||||
23 | laboratory fees not
pledged to discharge obligations arising | ||||||
24 | out of the issuance of revenue
bonds, library fees, and all
any | ||||||
25 | interest which may be earned thereon
not later
than 20 days |
| |||||||
| |||||||
1 | after receipt of the same without any deductions except for
| ||||||
2 | refunds to students for whom duplicate payments have been made | ||||||
3 | and to students
who have withdrawn after registration and are | ||||||
4 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
5 | enterprises and
activities as provided in paragraph (2) of this | ||||||
6 | Section, and all other
income arising out of any activity or | ||||||
7 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
8 | Section upon
not later than 10 days after
receipt of the same | ||||||
9 | without any deduction whatever.
Within 10 days after the | ||||||
10 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
11 | held in the Illinois State University Income Fund established | ||||||
12 | in
the State treasury that have been covered and paid into that | ||||||
13 | fund by or on
behalf of that University shall be repaid to the | ||||||
14 | University upon the warrant of
the State Comptroller, directed | ||||||
15 | to the State Treasurer as an order to pay the
sum required to | ||||||
16 | be repaid under this paragraph and shown as due on the warrant.
| ||||||
17 | The University shall deposit the amount so repaid to it in a | ||||||
18 | university bank
account within the time period established for | ||||||
19 | like amounts in Section 2 of the
State Officers and Employees | ||||||
20 | Money Disposition Act, to be credited to the
University Income | ||||||
21 | Fund established by the University in its own treasury for
| ||||||
22 | purposes of this paragraph. All moneys from time to time held | ||||||
23 | in the
University Income Fund in the treasury of the University | ||||||
24 | shall be used by the
University, pursuant to the order and | ||||||
25 | direction of the Board of Trustees of the
University, for the | ||||||
26 | support and improvement of the University, except for
amounts |
| |||||||
| |||||||
1 | disbursed from that University Income Fund for refunds to | ||||||
2 | students for
whom duplicate payment has been made and to | ||||||
3 | students who have withdrawn after
registration and who are | ||||||
4 | entitled to such refunds.
The General Assembly
shall from time | ||||||
5 | to time make appropriations payable from such fund for
the | ||||||
6 | support and improvement of Illinois State University.
| ||||||
7 | (2) The following items of income shall be retained by the
| ||||||
8 | University in its own treasury: endowment funds, gifts, trust | ||||||
9 | funds, and
Federal aid; funds received in connection with | ||||||
10 | contracts with
governmental, public, or private agencies or | ||||||
11 | persons, for research or
services including funds which are | ||||||
12 | paid as reimbursement to the
University; funds received in | ||||||
13 | connection with reserves authorized by
Section 20-60 of the | ||||||
14 | Illinois State University Law;
funds received in connection | ||||||
15 | with its operation of
research and high technology parks and | ||||||
16 | with the retention, receipt,
assignment, license, sale or | ||||||
17 | transfer of interests in, rights to, or income
from | ||||||
18 | discoveries, inventions, patents, or copyrightable works; | ||||||
19 | funds retained
by the University under the authority of
| ||||||
20 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
21 | from the
operation of student
or staff residence facilities, | ||||||
22 | student and staff medical and health
programs, Union buildings, | ||||||
23 | bookstores, farms, stores, and other
auxiliary enterprises or | ||||||
24 | activities which are self-supporting in whole
or in part. Any | ||||||
25 | income derived from such auxiliary enterprises or
activities | ||||||
26 | which is not necessary to their support, maintenance, or
|
| |||||||
| |||||||
1 | development shall not, however, be applied to any general | ||||||
2 | operational or
educational purposes but shall be retained by | ||||||
3 | the University in its own
treasury and credited to the | ||||||
4 | University Income Fund that it shall establish in
its treasury
| ||||||
5 | paid into the State treasury as
provided in paragraph (1) of | ||||||
6 | this Section.
| ||||||
7 | (3) The Board of Trustees of Illinois State University
may | ||||||
8 | retain in its
treasury any funds derived from rentals, service | ||||||
9 | charges and laboratory and
building service charges or other | ||||||
10 | sources, assessed or obtained for or
arising out of the | ||||||
11 | operation of any building or buildings or structure or
| ||||||
12 | structures and pledged to discharge obligations created in | ||||||
13 | order to
complete or operate such building or structure, or for | ||||||
14 | the payment of
revenue bonds issued for such University by the | ||||||
15 | Teachers College Board, the
Board of Governors of State | ||||||
16 | Colleges and Universities, the Board of Regents,
or the Board | ||||||
17 | of Trustees of Illinois State University, such funds
to be | ||||||
18 | disbursed from
time to time pursuant to the order and direction | ||||||
19 | of the Board of Trustees
of Northern Illinois University,
and | ||||||
20 | in accordance with any contracts, pledges, trusts or
agreements | ||||||
21 | heretofore made with respect thereto by the Teachers College | ||||||
22 | Board,
the Board of Governors of State Colleges and | ||||||
23 | Universities or the Board of
Regents, or hereafter made by the | ||||||
24 | Board of Trustees of Illinois State
University.
| ||||||
25 | (4) The Board of Trustees of Illinois State University may | ||||||
26 | also retain in
its treasury, out of student fees and tuition, |
| |||||||
| |||||||
1 | such sums annually as the
Board determines are necessary to | ||||||
2 | supplement revenue derived from any
building or buildings | ||||||
3 | constructed or acquired on or after the effective
date of this | ||||||
4 | amendatory Act of 1995, or to
supplement revenues derived from | ||||||
5 | any building or buildings having bonds
outstanding thereon | ||||||
6 | which bonds have heretofore been issued for the University
by | ||||||
7 | the Teachers College Board, the Board of Governors of State | ||||||
8 | Colleges and
Universities or the Board of Regents and which | ||||||
9 | bonds are refunded under the
provisions of the Act under which | ||||||
10 | they were issued or under the provisions
of any other law of | ||||||
11 | this State authorizing the refunding of such bonds,
and may | ||||||
12 | pledge or by resolution may make a supplementary
allocation of | ||||||
13 | the funds so retained out of students' fees and tuition for
the | ||||||
14 | retirement of such bonds as may be issued under any such Act or | ||||||
15 | law. Such
funds as
are so pledged shall annually be credited to | ||||||
16 | the account to which the
pledge applies. Such funds as are | ||||||
17 | supplementarily allocated by Board
resolution subsequent to | ||||||
18 | the resolution creating the bonds shall be
credited in | ||||||
19 | accordance with the terms of the resolution making such
| ||||||
20 | supplementary allocation to the account to which the allocation | ||||||
21 | applies.
The Board may authorize such supplementation only | ||||||
22 | after a determination by
it that the maximum revenues which may | ||||||
23 | reasonably and economically be
derived from the operation of a | ||||||
24 | building proposed to be constructed or
acquired under the Act | ||||||
25 | under which the bonds therefor are issued will be
insufficient | ||||||
26 | to meet the costs
of operation and maintenance and to pay the |
| |||||||
| |||||||
1 | principal of and interest on
bonds so issued for such building, | ||||||
2 | or after a determination by it that the
maximum revenues which | ||||||
3 | may reasonably and economically be derived from the
operation | ||||||
4 | of a building already constructed or acquired under the Act | ||||||
5 | under
which the bonds therefor were issued are
or will be | ||||||
6 | insufficient to meet the costs of operation and maintenance and
| ||||||
7 | to pay the principal of and interest on bonds issued for such | ||||||
8 | building. In
no event shall the supplementation from University | ||||||
9 | income be in excess of
an amount which, when added to the | ||||||
10 | revenues to be derived from the
operation of the building or | ||||||
11 | buildings, will be sufficient to meet the
annual debt service | ||||||
12 | requirements on the bonds issued in respect to such
building or | ||||||
13 | buildings, the annual cost of maintenance or operation of such
| ||||||
14 | building or buildings, and to provide for such reserves, | ||||||
15 | accounts or
covenants which the resolution authorizing the | ||||||
16 | issuing of such bonds may
require.
| ||||||
17 | (5) The Board of Trustees of Illinois State University may | ||||||
18 | also retain
in its treasury (a) all moneys received from the | ||||||
19 | sale of all bonds issued
under the Illinois State University | ||||||
20 | Revenue Bond Law,
(b) all fees,
rentals and other charges from | ||||||
21 | students, staff members and others using or
being served by, or | ||||||
22 | having the right to use or the right to be served by,
or to | ||||||
23 | operate any project acquired under the Illinois State | ||||||
24 | University Revenue
Bond Law, (c) all tuition,
registration, | ||||||
25 | matriculation, health, hospital, medical, laboratory,
| ||||||
26 | admission, student activities, student services, and all other |
| |||||||
| |||||||
1 | fees
collected from students matriculated, registered or | ||||||
2 | otherwise enrolled at
and attending the University pledged | ||||||
3 | under the terms of any resolution
authorizing bonds, or | ||||||
4 | authorizing a supplemental allocation of fees for
debt service | ||||||
5 | of bonds theretofore issued pursuant to the Illinois State
| ||||||
6 | University Revenue Bond Law, and (d)
all rentals from any | ||||||
7 | facility or building acquired under the Illinois State
| ||||||
8 | University Revenue Bond Law and
leased to the United States of | ||||||
9 | America.
| ||||||
10 | (6) Whenever funds retained by the University in its own | ||||||
11 | treasury as
provided in this Section are
deposited with a bank | ||||||
12 | or savings and loan association and the amount of the
deposit | ||||||
13 | exceeds the amount of federal deposit insurance coverage, a | ||||||
14 | bond or
pledged securities shall be obtained.
Only the types of | ||||||
15 | securities which the State Treasurer may, in his
discretion, | ||||||
16 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
17 | Corporation or the Federal Savings and Loan Insurance | ||||||
18 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
19 | may be accepted as pledged
securities.
The market value of the | ||||||
20 | bond or
pledged securities shall at all times be equal to or | ||||||
21 | greater than the
uninsured portion of the deposit.
| ||||||
22 | (7) The Auditor General shall audit or cause to be audited | ||||||
23 | all items
of income referred to in this Section and all other | ||||||
24 | income and expenditures
of the University.
| ||||||
25 | (8) The provisions of this Section, as amended by this | ||||||
26 | amendatory Act
of the 97th General Assembly, apply to moneys |
| |||||||
| |||||||
1 | received by the University
on or after July 1, 2011. Moneys | ||||||
2 | held by the University in the University
Income Fund that was | ||||||
3 | created under this Section pursuant to Public Act 89-602
may be | ||||||
4 | expended as authorized by that Public Act, but no additional | ||||||
5 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
6 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
7 | (30 ILCS 105/6a-1c)
| ||||||
8 | Sec. 6a-1c. Chicago State University Income Fund.
| ||||||
9 | (1) Beginning on the effective date of this amendatory Act | ||||||
10 | of
1996, The following items of income received by Chicago | ||||||
11 | State
University for general operational and educational | ||||||
12 | purposes
shall be
retained by the University in its own | ||||||
13 | treasury and credited to an account
known
as the University | ||||||
14 | Income Fund that it shall establish in its treasury for
| ||||||
15 | purposes of this paragraph
paid into the State treasury without | ||||||
16 | delay and
shall be deposited into a special fund to be known as | ||||||
17 | the Chicago State
University Income Fund : (a) tuition and | ||||||
18 | laboratory fees not
pledged to discharge obligations arising | ||||||
19 | out of the issuance of revenue
bonds, library fees, and all
any | ||||||
20 | interest which may be earned thereon
not later
than 20 days | ||||||
21 | after receipt of the same without any deductions except for
| ||||||
22 | refunds to students for whom duplicate payments have been made | ||||||
23 | and to students
who have withdrawn after registration and are | ||||||
24 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
25 | enterprises and
activities as provided in paragraph (2) of this |
| |||||||
| |||||||
1 | Section, and all other
income arising out of any activity or | ||||||
2 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
3 | Section upon
not later than 10 days after
receipt of
the same | ||||||
4 | without any deduction whatever.
Within 10 days after the | ||||||
5 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
6 | held in the Chicago State University Income Fund established in
| ||||||
7 | the State treasury that have been covered and paid into that | ||||||
8 | fund by or on
behalf of that University shall be repaid to the | ||||||
9 | University upon the warrant of
the State Comptroller, directed | ||||||
10 | to the State Treasurer as an order to pay the
sum required to | ||||||
11 | be repaid under this paragraph and shown as due on the warrant.
| ||||||
12 | The University shall deposit the amount so repaid to it in a | ||||||
13 | university bank
account within the time period established for | ||||||
14 | like amounts in Section 2 of the
State Officers and Employees | ||||||
15 | Money Disposition Act, to be credited to the
University Income | ||||||
16 | Fund established by the University in its own treasury for
| ||||||
17 | purposes of this paragraph. All moneys from time to time held | ||||||
18 | in the
University Income Fund in the treasury of the University | ||||||
19 | shall be used by the
University, pursuant to the order and | ||||||
20 | direction of the Board of Trustees of the
University, for the | ||||||
21 | support and improvement of the University, except for
amounts | ||||||
22 | disbursed from that University Income Fund for refunds to | ||||||
23 | students for
whom duplicate payment has been made and to | ||||||
24 | students who have withdrawn after
registration and who are | ||||||
25 | entitled to such refunds.
The General Assembly
shall from time | ||||||
26 | to time make appropriations payable from such fund for
the |
| |||||||
| |||||||
1 | support and improvement of Chicago State University.
| ||||||
2 | (2) The following items of income shall be retained by the
| ||||||
3 | University in its own treasury: endowment funds, gifts, trust | ||||||
4 | funds, and
Federal aid; funds received in connection with | ||||||
5 | contracts with
governmental, public, or private agencies or | ||||||
6 | persons, for research or
services including funds which are | ||||||
7 | paid as reimbursement to the
University; funds received in | ||||||
8 | connection with reserves authorized by
Section 5-60 of the | ||||||
9 | Chicago State University Law;
funds received in connection with | ||||||
10 | its operation of
research and high technology parks and with | ||||||
11 | the retention, receipt,
assignment, license, sale or transfer | ||||||
12 | of interests in, rights to, or income
from discoveries, | ||||||
13 | inventions, patents, or copyrightable works; funds retained
by | ||||||
14 | the University under the authority of
paragraph (3), (4) or (5) | ||||||
15 | of this Section; and funds received from the
operation of | ||||||
16 | student
or staff residence facilities, student and staff | ||||||
17 | medical and health
programs, Union buildings, bookstores, | ||||||
18 | farms, stores, and other
auxiliary enterprises or activities | ||||||
19 | which are self-supporting in whole
or in part. Any income | ||||||
20 | derived from such auxiliary enterprises or
activities which is | ||||||
21 | not necessary to their support, maintenance, or
development | ||||||
22 | shall not, however, be applied to any general operational or
| ||||||
23 | educational purposes but shall be retained by the University in | ||||||
24 | its own
treasury and credited to the University Income Fund | ||||||
25 | that it shall establish in
its treasury
paid into the State | ||||||
26 | treasury as
provided in paragraph (1) of this Section.
|
| |||||||
| |||||||
1 | (3) The Board of Trustees of Chicago State University
may | ||||||
2 | retain in its
treasury any funds derived from rentals, service | ||||||
3 | charges and laboratory and
building service charges or other | ||||||
4 | sources, assessed or obtained for or
arising out of the | ||||||
5 | operation of any building or buildings or structure or
| ||||||
6 | structures and pledged to discharge obligations created in | ||||||
7 | order to
complete or operate such building or structure, or for | ||||||
8 | the payment of
revenue bonds issued for such University by the | ||||||
9 | Teachers College Board, the
Board of Governors of State | ||||||
10 | Colleges and Universities or the Board of Trustees
of Chicago | ||||||
11 | State University, such funds to be disbursed from time to time
| ||||||
12 | pursuant to the order and direction of the Board of Trustees of | ||||||
13 | Chicago State
University, and in accordance with any contracts, | ||||||
14 | pledges, trusts or agreements
heretofore made with respect | ||||||
15 | thereto by the Teachers College Board or the Board
of Governors | ||||||
16 | of State Colleges and Universities, or hereafter made by the | ||||||
17 | Board
of Trustees of Chicago State University.
| ||||||
18 | (4) The Board of Trustees of Chicago State University may | ||||||
19 | also retain in
its treasury, out of student fees and tuition, | ||||||
20 | such sums annually as the
Board determines are necessary to | ||||||
21 | supplement revenue derived from any
building or buildings | ||||||
22 | constructed or acquired on or after the effective
date of this | ||||||
23 | amendatory Act of 1995, or to
supplement revenues derived from | ||||||
24 | any building or buildings having bonds
outstanding thereon | ||||||
25 | which bonds have heretofore been issued for the University
by | ||||||
26 | the Teachers College Board or the Board of Governors of State |
| |||||||
| |||||||
1 | Colleges and
Universities and which bonds are refunded under | ||||||
2 | the
provisions of the Act under which they were issued or under | ||||||
3 | the provisions
of any other law of this State authorizing the | ||||||
4 | refunding of such bonds,
and may pledge or by resolution may | ||||||
5 | make a supplementary allocation of the
funds so retained out of | ||||||
6 | students' fees and tuition for the retirement of such
bonds as | ||||||
7 | may be issued under any such Act or law. Such funds as
are so | ||||||
8 | pledged shall annually be credited to the account to which the
| ||||||
9 | pledge applies. Such funds as are supplementarily allocated by | ||||||
10 | Board
resolution subsequent to the resolution creating the | ||||||
11 | bonds shall be
credited in accordance with the terms of the | ||||||
12 | resolution making such
supplementary allocation to the account | ||||||
13 | to which the allocation applies.
The Board may authorize such | ||||||
14 | supplementation only after a determination by
it that the | ||||||
15 | maximum revenues which may reasonably and economically be
| ||||||
16 | derived from the operation of a building proposed to be | ||||||
17 | constructed or
acquired under the Act under which the bonds | ||||||
18 | therefor are issued will be
insufficient to meet the costs
of | ||||||
19 | operation and maintenance and to pay the principal of and | ||||||
20 | interest on
bonds so issued for such building, or after a | ||||||
21 | determination by it that the
maximum revenues which may | ||||||
22 | reasonably and economically be derived from the
operation of a | ||||||
23 | building already constructed or acquired under the Act under
| ||||||
24 | which the bonds therefor were issued are
or will be | ||||||
25 | insufficient to meet the costs of operation and maintenance and
| ||||||
26 | to pay the principal of and interest on bonds issued for such |
| |||||||
| |||||||
1 | building. In
no event shall the supplementation from University | ||||||
2 | income be in excess of
an amount which, when added to the | ||||||
3 | revenues to be derived from the
operation of the building or | ||||||
4 | buildings, will be sufficient to meet the
annual debt service | ||||||
5 | requirements on the bonds issued in respect to such
building or | ||||||
6 | buildings, the annual cost of maintenance or operation of such
| ||||||
7 | building or buildings, and to provide for such reserves, | ||||||
8 | accounts or
covenants which the resolution authorizing the | ||||||
9 | issuing of such bonds may
require.
| ||||||
10 | (5) The Board of Trustees of Chicago State University may | ||||||
11 | also retain
in its treasury (a) all moneys received from the | ||||||
12 | sale of all bonds issued
under the Chicago State University | ||||||
13 | Revenue Bond Law, (b) all fees,
rentals and other charges from | ||||||
14 | students, staff members and others using or
being served by, or | ||||||
15 | having the right to use or the right to be served by,
or to | ||||||
16 | operate any project acquired under the Chicago State University | ||||||
17 | Revenue
Bond Law, (c) all tuition,
registration, | ||||||
18 | matriculation, health, hospital, medical, laboratory,
| ||||||
19 | admission, student activities, student services, and all other | ||||||
20 | fees
collected from students matriculated, registered or | ||||||
21 | otherwise enrolled at
and attending the University pledged | ||||||
22 | under the terms of any resolution
authorizing bonds, or | ||||||
23 | authorizing a supplemental allocation of fees for
debt service | ||||||
24 | of bonds theretofore issued pursuant to the Chicago State
| ||||||
25 | University Revenue Bond Law, and (d)
all rentals from any | ||||||
26 | facility or building acquired under the Chicago State
|
| |||||||
| |||||||
1 | University Revenue Bond Law and
leased to the United States of | ||||||
2 | America.
| ||||||
3 | (6) Whenever funds retained by the University in its own | ||||||
4 | treasury as
provided in this Section are
deposited with a bank | ||||||
5 | or savings and loan association and the amount of the
deposit | ||||||
6 | exceeds the amount of federal deposit insurance coverage, a | ||||||
7 | bond or
pledged securities shall be obtained. Only the types of | ||||||
8 | securities which the
State Treasurer may, in his
discretion, | ||||||
9 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
10 | Corporation or the Federal Savings and Loan Insurance | ||||||
11 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
12 | may be accepted as pledged
securities. The market value of the | ||||||
13 | bond or pledged securities shall at all
times be equal to or | ||||||
14 | greater than the uninsured portion of the deposit.
| ||||||
15 | (7) The Auditor General shall audit or cause to be audited | ||||||
16 | all items
of income referred to in this Section and all other | ||||||
17 | income and expenditures
of the University.
| ||||||
18 | (8) The provisions of this Section, as amended by this | ||||||
19 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
20 | received by the University
on or after July 1, 2011. Moneys | ||||||
21 | held by the University in the University
Income Fund that was | ||||||
22 | created under this Section pursuant to Public Act 89-602
may be | ||||||
23 | expended as authorized by that Public Act, but no additional | ||||||
24 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
25 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
|
| |||||||
| |||||||
1 | (30 ILCS 105/6a-1d)
| ||||||
2 | Sec. 6a-1d. Eastern Illinois University Income Fund.
| ||||||
3 | (1) Beginning on the effective date of this amendatory Act | ||||||
4 | of
1996, The following items of income received by Eastern | ||||||
5 | Illinois
University for general operational and educational | ||||||
6 | purposes shall be
retained by the University in its own | ||||||
7 | treasury and credited to an account
known as the University | ||||||
8 | Income Fund that it shall establish in its treasury
for | ||||||
9 | purposes of this paragraph
paid into the State treasury without | ||||||
10 | delay
and shall be deposited into a special fund to be known as | ||||||
11 | the Eastern
Illinois University Income Fund : (a) tuition and | ||||||
12 | laboratory fees not
pledged to discharge obligations arising | ||||||
13 | out of the issuance of revenue
bonds, library fees, and all
any | ||||||
14 | interest which may be earned thereon
not later
than 20 days | ||||||
15 | after receipt of the same without any deductions except for
| ||||||
16 | refunds to students for whom duplicate payments have been made | ||||||
17 | and to students
who have withdrawn after registration and are | ||||||
18 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
19 | enterprises and
activities as provided in paragraph (2) of this | ||||||
20 | Section, and all other
income arising out of any activity or | ||||||
21 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
22 | Section upon
not later than 10 days after
receipt of the same | ||||||
23 | without any deduction whatever.
Within 10 days after the | ||||||
24 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
25 | held in the Eastern Illinois University Income Fund established | ||||||
26 | in
the State treasury that have been covered and paid into that |
| |||||||
| |||||||
1 | fund by or on
behalf of that University shall be repaid to the | ||||||
2 | University upon the warrant of
the State Comptroller, directed | ||||||
3 | to the State Treasurer as an order to pay the
sum required to | ||||||
4 | be repaid under this paragraph and shown as due on the warrant.
| ||||||
5 | The University shall deposit the amount so repaid to it in a | ||||||
6 | university bank
account within the time period established for | ||||||
7 | like amounts in Section 2 of the
State Officers and Employees | ||||||
8 | Money Disposition Act, to be credited to the
University Income | ||||||
9 | Fund established by the University in its own treasury for
| ||||||
10 | purposes of this paragraph. All moneys from time to time held | ||||||
11 | in the
University Income Fund in the treasury of the University | ||||||
12 | shall be used by the
University, pursuant to the order and | ||||||
13 | direction of the Board of Trustees of the
University, for the | ||||||
14 | support and improvement of the University, except for
amounts | ||||||
15 | disbursed from that University Income Fund for refunds to | ||||||
16 | students for
whom duplicate payment has been made and to | ||||||
17 | students who have withdrawn after
registration and who are | ||||||
18 | entitled to such refunds.
The General Assembly
shall from time | ||||||
19 | to time make appropriations payable from such fund for
the | ||||||
20 | support and improvement of Eastern Illinois University.
| ||||||
21 | (2) The following items of income shall be retained by the
| ||||||
22 | University in its own treasury: endowment funds, gifts, trust | ||||||
23 | funds, and
Federal aid; funds received in connection with | ||||||
24 | contracts with
governmental, public, or private agencies or | ||||||
25 | persons, for research or
services including funds which are | ||||||
26 | paid as reimbursement to the
University; funds received in |
| |||||||
| |||||||
1 | connection with reserves authorized by
Section 10-60 of the | ||||||
2 | Eastern Illinois University Law;
funds received in connection | ||||||
3 | with its operation of
research and high technology parks and | ||||||
4 | with the retention, receipt,
assignment, license, sale or | ||||||
5 | transfer of interests in, rights to, or income
from | ||||||
6 | discoveries, inventions, patents, or copyrightable works; | ||||||
7 | funds retained
by the University under the authority of
| ||||||
8 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
9 | from the
operation of student
or staff residence facilities, | ||||||
10 | student and staff medical and health
programs, Union buildings, | ||||||
11 | bookstores, farms, stores, and other
auxiliary enterprises or | ||||||
12 | activities which are self-supporting in whole
or in part. Any | ||||||
13 | income derived from such auxiliary enterprises or
activities | ||||||
14 | which is not necessary to their support, maintenance, or
| ||||||
15 | development shall not, however, be applied to any general | ||||||
16 | operational or
educational purposes but shall be retained by | ||||||
17 | the University in its own
treasury and credited to the | ||||||
18 | University Income Fund that it shall establish in
its treasury
| ||||||
19 | paid into the State treasury as
provided in paragraph (1) of | ||||||
20 | this Section.
| ||||||
21 | (3) The Board of Trustees of Eastern Illinois University
| ||||||
22 | may retain in its
treasury any funds derived from rentals, | ||||||
23 | service charges and laboratory and
building service charges or | ||||||
24 | other sources, assessed or obtained for or
arising out of the | ||||||
25 | operation of any building or buildings or structure or
| ||||||
26 | structures and pledged to discharge obligations created in |
| |||||||
| |||||||
1 | order to
complete or operate such building or structure, or for | ||||||
2 | the payment of
revenue bonds issued for such University by the | ||||||
3 | Teachers College Board, the
Board of Governors of State | ||||||
4 | Colleges and Universities or the Board of Trustees
of Eastern | ||||||
5 | Illinois University, such funds
to be disbursed from
time to | ||||||
6 | time pursuant to the order and direction of the Board of | ||||||
7 | Trustees
of Eastern Illinois University,
and in accordance with | ||||||
8 | any contracts, pledges, trusts or
agreements heretofore made | ||||||
9 | with respect thereto by the Teachers College Board
or the Board | ||||||
10 | of Governors of State Colleges and Universities,
or hereafter | ||||||
11 | made by the Board of Trustees of Eastern Illinois University.
| ||||||
12 | (4) The Board of Trustees of Eastern Illinois University | ||||||
13 | may also retain in
its treasury, out of student fees and | ||||||
14 | tuition, such sums annually as the
Board determines are | ||||||
15 | necessary to supplement revenue derived from any
building or | ||||||
16 | buildings constructed or acquired on or after the effective
| ||||||
17 | date of this amendatory Act of 1995, or to
supplement revenues | ||||||
18 | derived from any building or buildings having bonds
outstanding | ||||||
19 | thereon which bonds have heretofore been issued for the | ||||||
20 | University
by the Teachers College Board or the Board of | ||||||
21 | Governors of State Colleges and
Universities and which bonds | ||||||
22 | are refunded under the
provisions of the Act under which they | ||||||
23 | were issued or under the provisions
of any other law of this | ||||||
24 | State authorizing the refunding of such bonds,
and may pledge | ||||||
25 | or by resolution may make a supplementary
allocation of the | ||||||
26 | funds so retained out of students' fees and tuition for
the |
| |||||||
| |||||||
1 | retirement of such bonds as may be issued under any such Act or | ||||||
2 | law. Such
funds as
are so pledged shall annually be credited to | ||||||
3 | the account to which the
pledge applies. Such funds as are | ||||||
4 | supplementarily allocated by Board
resolution subsequent to | ||||||
5 | the resolution creating the bonds shall be
credited in | ||||||
6 | accordance with the terms of the resolution making such
| ||||||
7 | supplementary allocation to the account to which the allocation | ||||||
8 | applies. The
Board may authorize such supplementation only | ||||||
9 | after a determination by
it that the maximum revenues which may | ||||||
10 | reasonably and economically be
derived from the operation of a | ||||||
11 | building proposed to be constructed or
acquired under the Act | ||||||
12 | under which the bonds therefor are issued will be
insufficient | ||||||
13 | to meet the costs
of operation and maintenance and to pay the | ||||||
14 | principal of and interest on
bonds so issued for such building, | ||||||
15 | or after a determination by it that the
maximum revenues which | ||||||
16 | may reasonably and economically be derived from the
operation | ||||||
17 | of a building already constructed or acquired under the Act | ||||||
18 | under
which the bonds therefor were issued are
or will be | ||||||
19 | insufficient to meet the costs of operation and maintenance and
| ||||||
20 | to pay the principal of and interest on bonds issued for such | ||||||
21 | building. In
no event shall the supplementation from University | ||||||
22 | income be in excess of
an amount which, when added to the | ||||||
23 | revenues to be derived from the
operation of the building or | ||||||
24 | buildings, will be sufficient to meet the
annual debt service | ||||||
25 | requirements on the bonds issued in respect to such
building or | ||||||
26 | buildings, the annual cost of maintenance or operation of such
|
| |||||||
| |||||||
1 | building or buildings, and to provide for such reserves, | ||||||
2 | accounts or
covenants which the resolution authorizing the | ||||||
3 | issuing of such bonds may
require.
| ||||||
4 | (5) The Board of Trustees of Eastern Illinois University | ||||||
5 | may also retain
in its treasury (a) all moneys received from | ||||||
6 | the sale of all bonds issued
under the Eastern Illinois | ||||||
7 | University Revenue Bond Law,
(b) all fees,
rentals and other | ||||||
8 | charges from students, staff members and others using or
being | ||||||
9 | served by, or having the right to use or the right to be served | ||||||
10 | by,
or to operate any project acquired under the Eastern | ||||||
11 | Illinois University
Revenue Bond Law, (c) all tuition,
| ||||||
12 | registration, matriculation, health, hospital, medical, | ||||||
13 | laboratory,
admission, student activities, student services, | ||||||
14 | and all other fees
collected from students matriculated, | ||||||
15 | registered or otherwise enrolled at
and attending the | ||||||
16 | University pledged under the terms of any resolution
| ||||||
17 | authorizing bonds, or authorizing a supplemental allocation of | ||||||
18 | fees for
debt service of bonds theretofore issued pursuant to | ||||||
19 | the Eastern Illinois
University Revenue Bond Law, and (d)
all | ||||||
20 | rentals from any facility or building acquired under the | ||||||
21 | Eastern Illinois
University Revenue Bond Law and
leased to the | ||||||
22 | United States of America.
| ||||||
23 | (6) Whenever funds retained by the University in its own | ||||||
24 | treasury as
provided in this Section are
deposited with a bank | ||||||
25 | or savings and loan association and the amount of the
deposit | ||||||
26 | exceeds the amount of federal deposit insurance coverage, a |
| |||||||
| |||||||
1 | bond or
pledged securities shall be obtained. Only the types of | ||||||
2 | securities which the
State Treasurer may, in his
discretion, | ||||||
3 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
4 | Corporation or the Federal Savings and Loan Insurance | ||||||
5 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
6 | may be accepted as pledged
securities. The market value of the | ||||||
7 | bond or
pledged securities shall at all times be equal to or | ||||||
8 | greater than the
uninsured portion of the deposit.
| ||||||
9 | (7) The Auditor General shall audit or cause to be audited | ||||||
10 | all items
of income referred to in this Section and all other | ||||||
11 | income and expenditures
of the University.
| ||||||
12 | (8) The provisions of this Section, as amended by this | ||||||
13 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
14 | received by the University
on or after July 1, 2011. Moneys | ||||||
15 | held by the University in the University
Income Fund that was | ||||||
16 | created under this Section pursuant to Public Act 89-602
may be | ||||||
17 | expended as authorized by that Public Act, but no additional | ||||||
18 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
19 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
20 | (30 ILCS 105/6a-1e)
| ||||||
21 | Sec. 6a-1e. Governors State University Income Fund.
| ||||||
22 | (1) Beginning on the effective date of this amendatory Act | ||||||
23 | of
1996, The following items of income received by Governors | ||||||
24 | State
University for general operational and educational | ||||||
25 | purposes shall be
retained by the University in its own |
| |||||||
| |||||||
1 | treasury and credited to an account
known as the University | ||||||
2 | Income Fund that it shall establish in its treasury
for | ||||||
3 | purposes of this paragraph
paid into the State treasury without | ||||||
4 | delay and
shall be deposited into a special fund to be known as | ||||||
5 | the Governors State
University Income Fund : (a) tuition and | ||||||
6 | laboratory fees not
pledged to discharge obligations arising | ||||||
7 | out of the issuance of revenue
bonds, library fees, and all
any | ||||||
8 | interest which may be earned thereon
not later
than 20 days | ||||||
9 | after receipt of the same without any deductions except for
| ||||||
10 | refunds to students for whom duplicate payments have been made | ||||||
11 | and to students
who have withdrawn after registration and are | ||||||
12 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
13 | enterprises and
activities as provided in paragraph (2) of this | ||||||
14 | Section, and all other
income arising out of any activity or | ||||||
15 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
16 | Section upon
not later than 10 days after
receipt of the same | ||||||
17 | without any deduction whatever.
Within 10 days after the | ||||||
18 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
19 | held in the Governors State University Income Fund established | ||||||
20 | in
the State treasury that have been covered and paid into that | ||||||
21 | fund by or on
behalf of that University shall be repaid to the | ||||||
22 | University upon the warrant of
the State Comptroller, directed | ||||||
23 | to the State Treasurer as an order to pay the
sum required to | ||||||
24 | be repaid under this paragraph and shown as due on the warrant.
| ||||||
25 | The University shall deposit the amount so repaid to it in a | ||||||
26 | university bank
account within the time period established for |
| |||||||
| |||||||
1 | like amounts in Section 2 of the
State Officers and Employees | ||||||
2 | Money Disposition Act, to be credited to the
University Income | ||||||
3 | Fund established by the University in its own treasury for
| ||||||
4 | purposes of this paragraph. All moneys from time to time held | ||||||
5 | in the
University Income Fund in the treasury of the University | ||||||
6 | shall be used by the
University, pursuant to the order and | ||||||
7 | direction of the Board of Trustees of the
University, for the | ||||||
8 | support and improvement of the University, except for
amounts | ||||||
9 | disbursed from that University Income Fund for refunds to | ||||||
10 | students for
whom duplicate payment has been made and to | ||||||
11 | students who have withdrawn after
registration and who are | ||||||
12 | entitled to such refunds.
The General Assembly
shall from time | ||||||
13 | to time make appropriations payable from such fund for
the | ||||||
14 | support and improvement of Governors State University.
| ||||||
15 | (2) The following items of income shall be retained by the
| ||||||
16 | University in its own treasury: endowment funds, gifts, trust | ||||||
17 | funds, and
Federal aid; funds received in connection with | ||||||
18 | contracts with
governmental, public, or private agencies or | ||||||
19 | persons, for research or
services including funds which are | ||||||
20 | paid as reimbursement to the
University; funds received in | ||||||
21 | connection with reserves authorized by
Section 15-60 of the | ||||||
22 | Governors State University Law;
funds received in connection | ||||||
23 | with its operation of
research and high technology parks and | ||||||
24 | with the retention, receipt,
assignment, license, sale or | ||||||
25 | transfer of interests in, rights to, or income
from | ||||||
26 | discoveries, inventions, patents, or copyrightable works; |
| |||||||
| |||||||
1 | funds retained
by the University under the authority of
| ||||||
2 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
3 | from the
operation of student
or staff residence facilities, | ||||||
4 | student and staff medical and health
programs, Union buildings, | ||||||
5 | bookstores, farms, stores, and other
auxiliary enterprises or | ||||||
6 | activities which are self-supporting in whole
or in part. Any | ||||||
7 | income derived from such auxiliary enterprises or
activities | ||||||
8 | which is not necessary to their support, maintenance, or
| ||||||
9 | development shall not, however, be applied to any general | ||||||
10 | operational or
educational purposes but shall be retained by | ||||||
11 | the University in its own
treasury and credited to the | ||||||
12 | University Income Fund that it shall establish in
its treasury
| ||||||
13 | paid into the State treasury as
provided in paragraph (1) of | ||||||
14 | this Section.
| ||||||
15 | (3) The Board of Trustees of Governors State University
may | ||||||
16 | retain in its
treasury any funds derived from rentals, service | ||||||
17 | charges and laboratory and
building service charges or other | ||||||
18 | sources, assessed or obtained for or
arising out of the | ||||||
19 | operation of any building or buildings or structure or
| ||||||
20 | structures and pledged to discharge obligations created in | ||||||
21 | order to
complete or operate such building or structure, or for | ||||||
22 | the payment of
revenue bonds issued for such University by the | ||||||
23 | Teachers College Board, the
Board of Governors of State | ||||||
24 | Colleges and Universities or the Board of Trustees
of Governors | ||||||
25 | State University, such funds
to be disbursed from
time to time | ||||||
26 | pursuant to the order and direction of the Board of Trustees
of |
| |||||||
| |||||||
1 | Governors State University,
and in accordance with any | ||||||
2 | contracts, pledges, trusts or
agreements heretofore made with | ||||||
3 | respect thereto by the Teachers College Board
or
the Board of | ||||||
4 | Governors of State Colleges and Universities,
or hereafter made | ||||||
5 | by the Board of Trustees of Governors State University.
| ||||||
6 | (4) The Board of Trustees of Governors State University may | ||||||
7 | also retain in
its treasury, out of student fees and tuition, | ||||||
8 | such sums annually as the
Board determines are necessary to | ||||||
9 | supplement revenue derived from any
building or buildings | ||||||
10 | constructed or acquired on or after the effective
date of this | ||||||
11 | amendatory Act of 1995, or to
supplement revenues derived from | ||||||
12 | any building or buildings having bonds
outstanding thereon | ||||||
13 | which bonds have heretofore been issued for the University
by | ||||||
14 | the Teachers College Board or the Board of Governors of State | ||||||
15 | Colleges and
Universities and which bonds are refunded under | ||||||
16 | the
provisions of the Act under which they were issued or under | ||||||
17 | the provisions
of any other law of this State authorizing the | ||||||
18 | refunding of such bonds,
and may pledge or by resolution may | ||||||
19 | make a supplementary
allocation of the funds so retained out of | ||||||
20 | students' fees and tuition for
the retirement of such bonds as | ||||||
21 | may be issued under any such Act or law. Such
funds as
are so | ||||||
22 | pledged shall annually be credited to the account to which the
| ||||||
23 | pledge applies. Such funds as are supplementarily allocated by | ||||||
24 | Board
resolution subsequent to the resolution creating the | ||||||
25 | bonds shall be
credited in accordance with the terms of the | ||||||
26 | resolution making such
supplementary allocation to the account |
| |||||||
| |||||||
1 | to which the allocation applies. The
Board may authorize such | ||||||
2 | supplementation only after a determination by
it that the | ||||||
3 | maximum revenues which may reasonably and economically be
| ||||||
4 | derived from the operation of a building proposed to be | ||||||
5 | constructed or
acquired under the Act under which the bonds | ||||||
6 | therefor are issued will be
insufficient to meet the costs
of | ||||||
7 | operation and maintenance and to pay the principal of and | ||||||
8 | interest on
bonds so issued for such building, or after a | ||||||
9 | determination by it that the
maximum revenues which may | ||||||
10 | reasonably and economically be derived from the
operation of a | ||||||
11 | building already constructed or acquired under the Act under
| ||||||
12 | which the bonds therefor were issued are
or will be | ||||||
13 | insufficient to meet the costs of operation and maintenance and
| ||||||
14 | to pay the principal of and interest on bonds issued for such | ||||||
15 | building. In
no event shall the supplementation from University | ||||||
16 | income be in excess of
an amount which, when added to the | ||||||
17 | revenues to be derived from the
operation of the building or | ||||||
18 | buildings, will be sufficient to meet the
annual debt service | ||||||
19 | requirements on the bonds issued in respect to such
building or | ||||||
20 | buildings, the annual cost of maintenance or operation of such
| ||||||
21 | building or buildings, and to provide for such reserves, | ||||||
22 | accounts or
covenants which the resolution authorizing the | ||||||
23 | issuing of such bonds may
require.
| ||||||
24 | (5) The Board of Trustees of Governors State University may | ||||||
25 | also retain
in its treasury (a) all moneys received from the | ||||||
26 | sale of all bonds issued
under the Governors State University |
| |||||||
| |||||||
1 | Revenue Bond Law,
(b) all fees,
rentals and other charges from | ||||||
2 | students, staff members and others using or
being served by, or | ||||||
3 | having the right to use or the right to be served by,
or to | ||||||
4 | operate any project acquired under the Governors State | ||||||
5 | University Revenue
Bond Law, (c) all tuition,
registration, | ||||||
6 | matriculation, health, hospital, medical, laboratory,
| ||||||
7 | admission, student activities, student services, and all other | ||||||
8 | fees
collected from students matriculated, registered or | ||||||
9 | otherwise enrolled at
and attending the University pledged | ||||||
10 | under the terms of any resolution
authorizing bonds, or | ||||||
11 | authorizing a supplemental allocation of fees for
debt service | ||||||
12 | of bonds theretofore issued pursuant to the Governors State
| ||||||
13 | University Revenue Bond Law, and (d)
all rentals from any | ||||||
14 | facility or building acquired under the Governors State
| ||||||
15 | University Revenue Bond Law and
leased to the United States of | ||||||
16 | America.
| ||||||
17 | (6) Whenever funds retained by the University in its own | ||||||
18 | treasury as
provided in this Section are
deposited with a bank | ||||||
19 | or savings and loan association and the amount of the
deposit | ||||||
20 | exceeds the amount of federal deposit insurance coverage, a | ||||||
21 | bond or
pledged securities shall be obtained. Only the types of | ||||||
22 | securities which the
State Treasurer may, in his
discretion, | ||||||
23 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
24 | Corporation or the Federal Savings and Loan Insurance | ||||||
25 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
26 | may be accepted as pledged
securities. The market value of the |
| |||||||
| |||||||
1 | bond or
pledged securities shall at all times be equal to or | ||||||
2 | greater than the
uninsured portion of the deposit.
| ||||||
3 | (7) The Auditor General shall audit or cause to be audited | ||||||
4 | all items
of income referred to in this Section and all other | ||||||
5 | income and expenditures
of the University.
| ||||||
6 | (8) The provisions of this Section, as amended by this | ||||||
7 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
8 | received by the University
on or after July 1, 2011. Moneys | ||||||
9 | held by the University in the University
Income Fund that was | ||||||
10 | created under this Section pursuant to Public Act 89-602
may be | ||||||
11 | expended as authorized by that Public Act, but no additional | ||||||
12 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
13 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
14 | (30 ILCS 105/6a-1f)
| ||||||
15 | Sec. 6a-1f. Northeastern Illinois University Income Fund.
| ||||||
16 | (1) Beginning on the effective date of this amendatory Act | ||||||
17 | of
1996, The following items of income received by Northeastern
| ||||||
18 | Illinois University for general operational and educational | ||||||
19 | purposes
shall be
retained by the University in its own | ||||||
20 | treasury and credited to an account
known as the University | ||||||
21 | Income Fund that it shall establish in its
treasury for | ||||||
22 | purposes of this paragraph
paid into the State treasury without | ||||||
23 | delay and
shall be deposited into a special fund to be known as | ||||||
24 | the Northeastern
Illinois University Income Fund : (a) tuition | ||||||
25 | and laboratory fees not
pledged to discharge obligations |
| |||||||
| |||||||
1 | arising out of the issuance of revenue
bonds, library fees, and | ||||||
2 | all
any interest which may be earned thereon
not later
than 20 | ||||||
3 | days after receipt of the same without any deductions except | ||||||
4 | for
refunds to students for whom duplicate payments have been | ||||||
5 | made and to students
who have withdrawn after registration and | ||||||
6 | are entitled to such refunds ;
and (b) excess income from | ||||||
7 | auxiliary enterprises and
activities as provided in paragraph | ||||||
8 | (2) of this Section, and all other
income arising out of any | ||||||
9 | activity or purpose not specified in paragraph
(2), (3), (4) or | ||||||
10 | (5) of this Section upon
not later than 10 days after
receipt | ||||||
11 | of the same without any deduction whatever.
Within 10 days | ||||||
12 | after the effective date of this amendatory Act of 1996, all
| ||||||
13 | moneys then held in the Northeastern Illinois University Income | ||||||
14 | Fund
established in
the State treasury that have been covered | ||||||
15 | and paid into that fund by or on
behalf of that University | ||||||
16 | shall be repaid to the University upon the warrant of
the State | ||||||
17 | Comptroller, directed to the State Treasurer as an order to pay | ||||||
18 | the
sum required to be repaid under this paragraph and shown as | ||||||
19 | due on the warrant.
The University shall deposit the amount so | ||||||
20 | repaid to it in a university bank
account within the time | ||||||
21 | period established for like amounts in Section 2 of the
State | ||||||
22 | Officers and Employees Money Disposition Act, to be credited to | ||||||
23 | the
University Income Fund established by the University in its | ||||||
24 | own treasury for
purposes of this paragraph. All moneys from | ||||||
25 | time to time held in the
University Income Fund in the treasury | ||||||
26 | of the University shall be used by the
University, pursuant to |
| |||||||
| |||||||
1 | the order and direction of the Board of Trustees of the
| ||||||
2 | University, for the support and improvement of the University, | ||||||
3 | except for
amounts disbursed from that University Income Fund | ||||||
4 | for refunds to students for
whom duplicate payment has been | ||||||
5 | made and to students who have withdrawn after
registration and | ||||||
6 | who are entitled to such refunds.
The General Assembly
shall | ||||||
7 | from time to time make appropriations payable from such fund | ||||||
8 | for
the support and improvement of Northeastern Illinois | ||||||
9 | University.
| ||||||
10 | (2) The following items of income shall be retained by the
| ||||||
11 | University in its own treasury: endowment funds, gifts, trust | ||||||
12 | funds, and
Federal aid; funds received in connection with | ||||||
13 | contracts with
governmental, public, or private agencies or | ||||||
14 | persons, for research or
services including funds which are | ||||||
15 | paid as reimbursement to the
University; funds received in | ||||||
16 | connection with reserves authorized by
Section 25-60 of the | ||||||
17 | Northeastern Illinois University Law;
funds received in | ||||||
18 | connection with its operation of
research and high technology | ||||||
19 | parks and with the retention, receipt,
assignment, license, | ||||||
20 | sale or transfer of interests in, rights to, or income
from | ||||||
21 | discoveries, inventions, patents, or copyrightable works; | ||||||
22 | funds retained
by the University under the authority of
| ||||||
23 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
24 | from the
operation of student
or staff residence facilities, | ||||||
25 | student and staff medical and health
programs, Union buildings, | ||||||
26 | bookstores, farms, stores, and other
auxiliary enterprises or |
| |||||||
| |||||||
1 | activities which are self-supporting in whole
or in part. Any | ||||||
2 | income derived from such auxiliary enterprises or
activities | ||||||
3 | which is not necessary to their support, maintenance, or
| ||||||
4 | development shall not, however, be applied to any general | ||||||
5 | operational or
educational purposes but shall be retained by | ||||||
6 | the University in its own
treasury and credited to the | ||||||
7 | University Income Fund that it shall establish in
its treasury
| ||||||
8 | paid into the State treasury as
provided in paragraph (1) of | ||||||
9 | this Section.
| ||||||
10 | (3) The Board of Trustees of Northeastern Illinois | ||||||
11 | University
may retain in its
treasury any funds derived from | ||||||
12 | rentals, service charges and laboratory and
building service | ||||||
13 | charges or other sources, assessed or obtained for or
arising | ||||||
14 | out of the operation of any building or buildings or structure | ||||||
15 | or
structures and pledged to discharge obligations created in | ||||||
16 | order to
complete or operate such building or structure, or for | ||||||
17 | the payment of
revenue bonds issued for such University by the | ||||||
18 | Teachers College Board, the
Board of Governors of State | ||||||
19 | Colleges and Universities or the Board of Trustees
of | ||||||
20 | Northeastern Illinois University, such funds
to be disbursed | ||||||
21 | from
time to time pursuant to the order and direction of the | ||||||
22 | Board of Trustees
of Northeastern Illinois University,
and in | ||||||
23 | accordance with any contracts, pledges, trusts or
agreements | ||||||
24 | heretofore made with respect thereto by the Teachers College | ||||||
25 | Board
or the Board of Governors of State Colleges and | ||||||
26 | Universities,
or hereafter made by the Board of Trustees of |
| |||||||
| |||||||
1 | Northeastern Illinois University.
| ||||||
2 | (4) The Board of Trustees of Northeastern Illinois | ||||||
3 | University may also
retain in
its treasury, out of student fees | ||||||
4 | and tuition, such sums annually as the
Board determines are | ||||||
5 | necessary to supplement revenue derived from any
building or | ||||||
6 | buildings constructed or acquired on or after the effective
| ||||||
7 | date of this amendatory Act of 1995, or to
supplement revenues | ||||||
8 | derived from any building or buildings having bonds
outstanding | ||||||
9 | thereon which bonds have heretofore been issued for the | ||||||
10 | University
by the Teachers College Board or the Board of | ||||||
11 | Governors of State Colleges and
Universities and which bonds | ||||||
12 | are refunded under the
provisions of the Act under which they | ||||||
13 | were issued or under the provisions
of any other law of this | ||||||
14 | State authorizing the refunding of such bonds,
and may pledge | ||||||
15 | or by resolution may make a supplementary
allocation of the | ||||||
16 | funds so retained out of students' fees and tuition for
the | ||||||
17 | retirement of such bonds as may be issued under any such Act or | ||||||
18 | law. Such
funds as
are so pledged shall annually be credited to | ||||||
19 | the account to which the
pledge applies. Such funds as are | ||||||
20 | supplementarily allocated by Board
resolution subsequent to | ||||||
21 | the resolution creating the bonds shall be
credited in | ||||||
22 | accordance with the terms of the resolution making such
| ||||||
23 | supplementary allocation to the account to which the allocation | ||||||
24 | applies. The
Board may authorize such supplementation only | ||||||
25 | after a determination by
it that the maximum revenues which may | ||||||
26 | reasonably and economically be
derived from the operation of a |
| |||||||
| |||||||
1 | building proposed to be constructed or
acquired under the Act | ||||||
2 | under which the bonds therefor are issued will be
insufficient | ||||||
3 | to meet the costs
of operation and maintenance and to pay the | ||||||
4 | principal of and interest on
bonds so issued for such building, | ||||||
5 | or after a determination by it that the
maximum revenues which | ||||||
6 | may reasonably and economically be derived from the
operation | ||||||
7 | of a building already constructed or acquired under the Act | ||||||
8 | under
which the bonds therefor were issued are
or will be | ||||||
9 | insufficient to meet the costs of operation and maintenance and
| ||||||
10 | to pay the principal of and interest on bonds issued for such | ||||||
11 | building. In
no event shall the supplementation from University | ||||||
12 | income be in excess of
an amount which, when added to the | ||||||
13 | revenues to be derived from the
operation of the building or | ||||||
14 | buildings, will be sufficient to meet the
annual debt service | ||||||
15 | requirements on the bonds issued in respect to such
building or | ||||||
16 | buildings, the annual cost of maintenance or operation of such
| ||||||
17 | building or buildings, and to provide for such reserves, | ||||||
18 | accounts or
covenants which the resolution authorizing the | ||||||
19 | issuing of such bonds may
require.
| ||||||
20 | (5) The Board of Trustees of Northeastern Illinois | ||||||
21 | University may also
retain
in its treasury (a) all moneys | ||||||
22 | received from the sale of all bonds issued
under the | ||||||
23 | Northeastern Illinois University Revenue Bond Law,
(b) all | ||||||
24 | fees,
rentals and other charges from students, staff members | ||||||
25 | and others using or
being served by, or having the right to use | ||||||
26 | or the right to be served by,
or to operate any project |
| |||||||
| |||||||
1 | acquired under the Northeastern Illinois University
Revenue | ||||||
2 | Bond Law, (c) all tuition,
registration, matriculation, | ||||||
3 | health, hospital, medical, laboratory,
admission, student | ||||||
4 | activities, student services, and all other fees
collected from | ||||||
5 | students matriculated, registered or otherwise enrolled at
and | ||||||
6 | attending the University pledged under the terms of any | ||||||
7 | resolution
authorizing bonds, or authorizing a supplemental | ||||||
8 | allocation of fees for
debt service of bonds theretofore issued | ||||||
9 | pursuant to the Northeastern Illinois
University Revenue Bond | ||||||
10 | Law, and (d)
all rentals from any facility or building acquired | ||||||
11 | under the Northeastern
Illinois University Revenue Bond Law and
| ||||||
12 | leased to the United States of America.
| ||||||
13 | (6) Whenever funds retained by the University in its own | ||||||
14 | treasury as
provided in this Section are
deposited with a bank | ||||||
15 | or savings and loan association and the amount of the
deposit | ||||||
16 | exceeds the amount of federal deposit insurance coverage, a | ||||||
17 | bond or
pledged securities shall be obtained. Only the types of | ||||||
18 | securities which the
State Treasurer may, in his
discretion, | ||||||
19 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
20 | Corporation or the Federal Savings and Loan Insurance | ||||||
21 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
22 | may be accepted as pledged
securities. The market value of the | ||||||
23 | bond or
pledged securities shall at all times be equal to or | ||||||
24 | greater than the
uninsured portion of the deposit.
| ||||||
25 | (7) The Auditor General shall audit or cause to be audited | ||||||
26 | all items
of income referred to in this Section and all other |
| |||||||
| |||||||
1 | income and expenditures
of the University.
| ||||||
2 | (8) The provisions of this Section, as amended by this | ||||||
3 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
4 | received by the University
on or after July 1, 2011. Moneys | ||||||
5 | held by the University in the University
Income Fund that was | ||||||
6 | created under this Section pursuant to Public Act 89-602
may be | ||||||
7 | expended as authorized by that Public Act, but no additional | ||||||
8 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
9 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
10 | (30 ILCS 105/6a-1g)
| ||||||
11 | Sec. 6a-1g. Western Illinois University Income Fund.
| ||||||
12 | (1) Beginning on the effective date of this amendatory Act | ||||||
13 | of
1996, The following items of income received by Western | ||||||
14 | Illinois
University for general operational and educational | ||||||
15 | purposes shall be retained
by the University in its own | ||||||
16 | treasury and credited to an account known as the
University | ||||||
17 | Income Fund that it shall establish in its treasury for
| ||||||
18 | purposes of this paragraph
paid into the State treasury without | ||||||
19 | delay and
shall be deposited into a special fund to be known as | ||||||
20 | the Western
Illinois University Income Fund : (a) tuition and | ||||||
21 | laboratory fees not
pledged to discharge obligations arising | ||||||
22 | out of the issuance of revenue
bonds, library fees, and all
any | ||||||
23 | interest which may be earned thereon
not later
than 20 days | ||||||
24 | after receipt of the same without any deductions except for
| ||||||
25 | refunds to students for whom duplicate payments have been made |
| |||||||
| |||||||
1 | and to students
who have withdrawn after registration and are | ||||||
2 | entitled to such refunds ;
and (b) excess income from auxiliary | ||||||
3 | enterprises and
activities as provided in paragraph (2) of this | ||||||
4 | Section, and all other
income arising out of any activity or | ||||||
5 | purpose not specified in paragraph
(2), (3), (4) or (5) of this | ||||||
6 | Section upon
not later than 10 days after
receipt of the same | ||||||
7 | without any deduction whatever.
Within 10 days after the | ||||||
8 | effective date of this amendatory Act of 1996, all
moneys then | ||||||
9 | held in the Western Illinois University Income Fund established | ||||||
10 | in
the State treasury that have been covered and paid into that | ||||||
11 | fund by or on
behalf of that University shall be repaid to the | ||||||
12 | University upon the warrant of
the State Comptroller, directed | ||||||
13 | to the State Treasurer as an order to pay the
sum required to | ||||||
14 | be repaid under this paragraph and shown as due on the warrant.
| ||||||
15 | The University shall deposit the amount so repaid to it in a | ||||||
16 | university bank
account within the time period established for | ||||||
17 | like amounts in Section 2 of the
State Officers and Employees | ||||||
18 | Money Disposition Act, to be credited to the
University Income | ||||||
19 | Fund established by the University in its own treasury for
| ||||||
20 | purposes of this paragraph. All moneys from time to time held | ||||||
21 | in the
University Income Fund in the treasury of the University | ||||||
22 | shall be used by the
University, pursuant to the order and | ||||||
23 | direction of the Board of Trustees of the
University, for the | ||||||
24 | support and improvement of the University, except for
amounts | ||||||
25 | disbursed from that University Income Fund for refunds to | ||||||
26 | students for
whom duplicate payment has been made and to |
| |||||||
| |||||||
1 | students who have withdrawn after
registration and who are | ||||||
2 | entitled to such refunds.
The General Assembly
shall from time | ||||||
3 | to time make appropriations payable from such fund for
the | ||||||
4 | support and improvement of Western Illinois University.
| ||||||
5 | (2) The following items of income shall be retained by the
| ||||||
6 | University in its own treasury: endowment funds, gifts, trust | ||||||
7 | funds, and
Federal aid; funds received in connection with | ||||||
8 | contracts with
governmental, public, or private agencies or | ||||||
9 | persons, for research or
services including funds which are | ||||||
10 | paid as reimbursement to the
University; funds received in | ||||||
11 | connection with reserves authorized by
Section 35-60 of the | ||||||
12 | Western Illinois University Law;
funds received in connection | ||||||
13 | with its operation of
research and high technology parks and | ||||||
14 | with the retention, receipt,
assignment, license, sale or | ||||||
15 | transfer of interests in, rights to, or income
from | ||||||
16 | discoveries, inventions, patents, or copyrightable works; | ||||||
17 | funds retained
by the University under the authority of
| ||||||
18 | paragraph (3), (4) or (5) of this Section; and funds received | ||||||
19 | from the
operation of student
or staff residence facilities, | ||||||
20 | student and staff medical and health
programs, Union buildings, | ||||||
21 | bookstores, farms, stores, and other
auxiliary enterprises or | ||||||
22 | activities which are self-supporting in whole
or in part. Any | ||||||
23 | income derived from such auxiliary enterprises or
activities | ||||||
24 | which is not necessary to their support, maintenance, or
| ||||||
25 | development shall not, however, be applied to any general | ||||||
26 | operational or
educational purposes but shall be retained by |
| |||||||
| |||||||
1 | the University in its own
treasury and credited to the | ||||||
2 | University Income Fund that it shall establish in
its treasury
| ||||||
3 | paid into the State
treasury as
provided in paragraph (1) of | ||||||
4 | this Section.
| ||||||
5 | (3) The Board of Trustees of Western Illinois University
| ||||||
6 | may retain in its
treasury any funds derived from rentals, | ||||||
7 | service charges and laboratory and
building service charges or | ||||||
8 | other sources, assessed or obtained for or
arising out of the | ||||||
9 | operation of any building or buildings or structure or
| ||||||
10 | structures and pledged to discharge obligations created in | ||||||
11 | order to
complete or operate such building or structure, or for | ||||||
12 | the payment of
revenue bonds issued for such University by the | ||||||
13 | Teachers College Board, the
Board of Governors of State | ||||||
14 | Colleges and Universities or the Board of Trustees
of Western | ||||||
15 | Illinois University, such funds
to be disbursed from
time to | ||||||
16 | time pursuant to the order and direction of the Board of | ||||||
17 | Trustees
of Western Illinois University,
and in accordance with | ||||||
18 | any contracts, pledges, trusts or
agreements heretofore made | ||||||
19 | with respect thereto by the Teachers College Board
or the Board | ||||||
20 | of Governors of State Colleges and Universities,
or hereafter | ||||||
21 | made by the Board of Trustees of Western Illinois University.
| ||||||
22 | (4) The Board of Trustees of Western Illinois University | ||||||
23 | may also retain in
its treasury, out of student fees and | ||||||
24 | tuition, such sums annually as the
Board determines are | ||||||
25 | necessary to supplement revenue derived from any
building or | ||||||
26 | buildings constructed or acquired on or after the effective
|
| |||||||
| |||||||
1 | date of this amendatory Act of 1995, or to
supplement revenues | ||||||
2 | derived from any building or buildings having bonds
outstanding | ||||||
3 | thereon which bonds have heretofore been issued for the | ||||||
4 | University
by the Teachers College Board or the Board of | ||||||
5 | Governors of State Colleges and
Universities and which bonds | ||||||
6 | are refunded under the
provisions of the Act under which they | ||||||
7 | were issued or under the provisions
of any other law of this | ||||||
8 | State authorizing the refunding of such bonds,
and may pledge | ||||||
9 | or by resolution may make a supplementary
allocation of the | ||||||
10 | funds so retained out of students' fees and tuition for
the | ||||||
11 | retirement of such bonds as may be issued under any such Act or | ||||||
12 | law. Such
funds as
are so pledged shall annually be credited to | ||||||
13 | the account to which the
pledge applies. Such funds as are | ||||||
14 | supplementarily allocated by Board
resolution subsequent to | ||||||
15 | the resolution creating the bonds shall be
credited in | ||||||
16 | accordance with the terms of the resolution making such
| ||||||
17 | supplementary allocation to the account to which the allocation | ||||||
18 | applies. The
Board may authorize such supplementation only | ||||||
19 | after a determination by
it that the maximum revenues which may | ||||||
20 | reasonably and economically be
derived from the operation of a | ||||||
21 | building proposed to be constructed or
acquired under the Act | ||||||
22 | under which the bonds therefor are issued will be
insufficient | ||||||
23 | to meet the costs
of operation and maintenance and to pay the | ||||||
24 | principal of and interest on
bonds so issued for such building, | ||||||
25 | or after a determination by it that the
maximum revenues which | ||||||
26 | may reasonably and economically be derived from the
operation |
| |||||||
| |||||||
1 | of a building already constructed or acquired under the Act | ||||||
2 | under
which the bonds therefor were issued are
or will be | ||||||
3 | insufficient to meet the costs of operation and maintenance and
| ||||||
4 | to pay the principal of and interest on bonds issued for such | ||||||
5 | building. In
no event shall the supplementation from University | ||||||
6 | income be in excess of
an amount which, when added to the | ||||||
7 | revenues to be derived from the
operation of the building or | ||||||
8 | buildings, will be sufficient to meet the
annual debt service | ||||||
9 | requirements on the bonds issued in respect to such
building or | ||||||
10 | buildings, the annual cost of maintenance or operation of such
| ||||||
11 | building or buildings, and to provide for such reserves, | ||||||
12 | accounts or
covenants which the resolution authorizing the | ||||||
13 | issuing of such bonds may
require.
| ||||||
14 | (5) The Board of Trustees of Western Illinois University | ||||||
15 | may also retain
in its treasury (a) all moneys received from | ||||||
16 | the sale of all bonds issued
under the Western Illinois | ||||||
17 | University Revenue Bond Law,
(b) all fees,
rentals and other | ||||||
18 | charges from students, staff members and others using or
being | ||||||
19 | served by, or having the right to use or the right to be served | ||||||
20 | by,
or to operate any project acquired under the Western | ||||||
21 | Illinois University
Revenue Bond Law, (c) all tuition,
| ||||||
22 | registration, matriculation, health, hospital, medical, | ||||||
23 | laboratory,
admission, student activities, student services, | ||||||
24 | and all other fees
collected from students matriculated, | ||||||
25 | registered or otherwise enrolled at
and attending the | ||||||
26 | University pledged under the terms of any resolution
|
| |||||||
| |||||||
1 | authorizing bonds, or authorizing a supplemental allocation of | ||||||
2 | fees for
debt service of bonds theretofore issued pursuant to | ||||||
3 | the Western Illinois
University Revenue Bond Law, and (d)
all | ||||||
4 | rentals from any facility or building acquired under the | ||||||
5 | Western Illinois
University Revenue Bond Law and
leased to the | ||||||
6 | United States of America.
| ||||||
7 | (6) Whenever funds retained by the University in its own | ||||||
8 | treasury as
provided in this Section are
deposited with a bank | ||||||
9 | or savings and loan association and the amount of the
deposit | ||||||
10 | exceeds the amount of federal deposit insurance coverage, a | ||||||
11 | bond or
pledged securities shall be obtained. Only the types of | ||||||
12 | securities which the
State Treasurer may, in his
discretion, | ||||||
13 | accept for amounts not insured by the Federal Deposit Insurance
| ||||||
14 | Corporation or the Federal Savings and Loan Insurance | ||||||
15 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
16 | may be accepted as pledged
securities. The market value of the | ||||||
17 | bond or
pledged securities shall at all times be equal to or | ||||||
18 | greater than the
uninsured portion of the deposit.
| ||||||
19 | (7) The Auditor General shall audit or cause to be audited | ||||||
20 | all items
of income referred to in this Section and all other | ||||||
21 | income and expenditures
of the University.
| ||||||
22 | (8) The provisions of this Section, as amended by this | ||||||
23 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
24 | received by the University
on or after July 1, 2011. Moneys | ||||||
25 | held by the University in the University
Income Fund that was | ||||||
26 | created under this Section pursuant to Public Act 89-602
may be |
| |||||||
| |||||||
1 | expended as authorized by that Public Act, but no additional | ||||||
2 | moneys
shall be deposited into that Fund after June 30, 2011.
| ||||||
3 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
4 | (30 ILCS 105/6d) (from Ch. 127, par. 142d)
| ||||||
5 | Sec. 6d. University income fund; Retention of certain items | ||||||
6 | by
University of Illinois ; Audit.
| ||||||
7 | (1) Beginning on the effective date of this amendatory Act | ||||||
8 | of 1996,
The following items of income, except as otherwise
| ||||||
9 | provided in Section 6g, received by the University of Illinois | ||||||
10 | for general
operational and educational purposes shall be | ||||||
11 | retained by the University in
its own treasury and credited to | ||||||
12 | an account known as the University Income Fund
that it shall | ||||||
13 | establish in
its treasury for purposes of this paragraph
paid | ||||||
14 | into the State treasury
without delay and shall be deposited | ||||||
15 | into a special fund to be known as the
"University Income | ||||||
16 | Fund" : (a) tuition, laboratory and library fees, and
all
any | ||||||
17 | interest which may be earned thereon , not later than 20 days
| ||||||
18 | after receipt of the same, without any deductions
except for | ||||||
19 | refunds to students for whom duplicate payment has been made
| ||||||
20 | and to students who have withdrawn after registration and who | ||||||
21 | are entitled
to such refunds ; and (b) excess income from | ||||||
22 | auxiliary
enterprises and activities as provided in paragraph | ||||||
23 | (2) of this Section,
and all other income arising out of any | ||||||
24 | activity or purpose not
specified in paragraph (2) upon
not | ||||||
25 | later than 10 days after
receipt of the same
and without any |
| |||||||
| |||||||
1 | deduction whatever. Such items shall be either paid into
the | ||||||
2 | State treasury or deposited into a college or university bank | ||||||
3 | account
within the time period established for like amounts in | ||||||
4 | Section 2 of the
State Officers and Employees Money Disposition | ||||||
5 | Act . Within 10 days after the
effective date of this amendatory | ||||||
6 | Act of 1996, all moneys then remaining in the
University Income | ||||||
7 | Fund heretofore established as a special fund in the State
| ||||||
8 | treasury that were covered and paid into
that fund by the | ||||||
9 | University shall be repaid to the University upon the warrant
| ||||||
10 | of the State Comptroller, directed to the State Treasurer as an | ||||||
11 | order to pay
the sum required to be repaid under this paragraph | ||||||
12 | and shown as due on the
warrant. The University shall deposit | ||||||
13 | the amount so repaid to it in a college
or university bank | ||||||
14 | account within the time period established for like amounts
in | ||||||
15 | Section 2 of the State Officers and Employees Money Disposition | ||||||
16 | Act, to be
credited to the University Income Fund established | ||||||
17 | by the University in its
own treasury for purposes of this | ||||||
18 | paragraph. All moneys from time to time held
in the University | ||||||
19 | Income Fund in the treasury of the University shall be used
by | ||||||
20 | the
University, pursuant to the order and direction of the | ||||||
21 | Board of Trustees of the
University, for the support and | ||||||
22 | improvement of the University, except for
amounts disbursed | ||||||
23 | from that University Income Fund for refunds to students
for | ||||||
24 | whom
duplicate payment has been made and to students who have | ||||||
25 | withdrawn after
registration and who are entitled to such | ||||||
26 | refunds ; provided, that
if deposited into a bank account, such |
| |||||||
| |||||||
1 | items together with interest thereon
shall be paid into the | ||||||
2 | State treasury as provided in the preceding
sentence. The | ||||||
3 | General Assembly from time to time shall
make appropriations | ||||||
4 | payable from the University Income Fund for the
support, | ||||||
5 | operation and improvement of the University of Illinois .
| ||||||
6 | (2) The following items of income shall be retained by the
| ||||||
7 | University in its own treasury: endowment funds, gifts, trust | ||||||
8 | funds, and
Federal aid; funds received in connection with | ||||||
9 | contracts with
governmental, public, or private agencies or | ||||||
10 | persons, for research or
services including funds which are | ||||||
11 | paid as reimbursement to the University
and funds received in | ||||||
12 | connection with its operation of medical research and
high | ||||||
13 | technology parks; funds received in connection with the | ||||||
14 | retention,
receipt, assignment, license, sale or transfer of | ||||||
15 | interests in, rights to,
or income from discoveries, | ||||||
16 | inventions, patents, or copyrightable works;
funds retained by | ||||||
17 | the University under the authority of Section 6g;
and funds | ||||||
18 | received from the operation of student or staff residence
| ||||||
19 | facilities, student and staff medical and health
programs, | ||||||
20 | Union buildings, bookstores, farms, stores, service
| ||||||
21 | activities, and other auxiliary enterprises or activities | ||||||
22 | which are
self-supporting in whole or in part; provided, that | ||||||
23 | any income derived
from such auxiliary enterprises or | ||||||
24 | activities which is not necessary to
their support, | ||||||
25 | maintenance, or development shall not be applied to any
general | ||||||
26 | operational or educational purpose but shall be retained by the
|
| |||||||
| |||||||
1 | University in its own treasury and credited to the University | ||||||
2 | Income Fund that
it shall establish in its treasury
paid into | ||||||
3 | the
State treasury as provided in paragraph (1) of this | ||||||
4 | Section.
| ||||||
5 | Whenever such funds retained by the University in its own | ||||||
6 | treasury
are deposited with a bank or savings and loan | ||||||
7 | association and the amount of
the deposit exceeds the amount of | ||||||
8 | federal deposit insurance coverage, a
bond or pledged | ||||||
9 | securities shall be obtained.
Only the types of securities | ||||||
10 | which the State Treasurer may, in his
discretion, accept for | ||||||
11 | amounts not insured by the Federal Deposit Insurance
| ||||||
12 | Corporation or the Federal Savings and Loan Insurance | ||||||
13 | Corporation under
Section 11 of the Deposit of State Moneys Act | ||||||
14 | may be accepted as pledged
securities. The market value of the
| ||||||
15 | bond or pledged securities shall at all times be equal to or | ||||||
16 | greater than
the uninsured portion of the deposit.
| ||||||
17 | The Auditor General shall audit or cause to be audited the | ||||||
18 | above
items of income and all other income and expenditures of | ||||||
19 | such
institution.
| ||||||
20 | (3) The provisions of this Section, as amended by this | ||||||
21 | amendatory Act
of the 97th General Assembly, apply to moneys | ||||||
22 | received by the University
on or after July 1, 2011. Moneys | ||||||
23 | held by the University in the University
Income Fund that was | ||||||
24 | created under this Section pursuant to Public Act 89-602
may be | ||||||
25 | expended as authorized by that Public Act, but no additional | ||||||
26 | moneys
shall be deposited into that Fund after June 30, 2011.
|
| |||||||
| |||||||
1 | (Source: P.A. 89-602, eff. 8-2-96.)
| ||||||
2 | Section 10. The Illinois Pension Code is amended by | ||||||
3 | changing
Section 15-155 as follows:
| ||||||
4 | (40 ILCS 5/15-155) (from Ch. 108 1/2, par. 15-155)
| ||||||
5 | Sec. 15-155. Employer contributions.
| ||||||
6 | (a) The State of Illinois shall make contributions by | ||||||
7 | appropriations of
amounts which, together with the other | ||||||
8 | employer contributions from trust,
federal, and other funds, | ||||||
9 | employee contributions, income from investments,
and other | ||||||
10 | income of this System, will be sufficient to meet the cost of
| ||||||
11 | maintaining and administering the System on a 90% funded basis | ||||||
12 | in accordance
with actuarial recommendations.
| ||||||
13 | The Board shall determine the amount of State contributions | ||||||
14 | required for
each fiscal year on the basis of the actuarial | ||||||
15 | tables and other assumptions
adopted by the Board and the | ||||||
16 | recommendations of the actuary, using the formula
in subsection | ||||||
17 | (a-1).
| ||||||
18 | (a-1) For State fiscal years 2011 through 2045, the minimum | ||||||
19 | contribution
to the System to be made by the State for each | ||||||
20 | fiscal year shall be an amount
determined by the System to be | ||||||
21 | sufficient to bring the total assets of the
System up to 90% of | ||||||
22 | the total actuarial liabilities of the System by the end of
| ||||||
23 | State fiscal year 2045. In making these determinations, the | ||||||
24 | required State
contribution shall be calculated each year as a |
| |||||||
| |||||||
1 | level percentage of payroll
over the years remaining to and | ||||||
2 | including fiscal year 2045 and shall be
determined under the | ||||||
3 | projected unit credit actuarial cost method.
| ||||||
4 | For State fiscal years 1996 through 2005, the State | ||||||
5 | contribution to
the System, as a percentage of the applicable | ||||||
6 | employee payroll, shall be
increased in equal annual increments | ||||||
7 | so that by State fiscal year 2011, the
State is contributing at | ||||||
8 | the rate required under this Section.
| ||||||
9 | Notwithstanding any other provision of this Article, the | ||||||
10 | total required State
contribution for State fiscal year 2006 is | ||||||
11 | $166,641,900.
| ||||||
12 | Notwithstanding any other provision of this Article, the | ||||||
13 | total required State
contribution for State fiscal year 2007 is | ||||||
14 | $252,064,100.
| ||||||
15 | For each of State fiscal years 2008 through 2009, the State | ||||||
16 | contribution to
the System, as a percentage of the applicable | ||||||
17 | employee payroll, shall be
increased in equal annual increments | ||||||
18 | from the required State contribution for State fiscal year | ||||||
19 | 2007, so that by State fiscal year 2011, the
State is | ||||||
20 | contributing at the rate otherwise required under this Section.
| ||||||
21 | Notwithstanding any other provision of this Article, the | ||||||
22 | total required State contribution for State fiscal year 2010 is | ||||||
23 | $702,514,000 and shall be made from the State Pensions Fund and | ||||||
24 | proceeds of bonds sold in fiscal year 2010 pursuant to Section | ||||||
25 | 7.2 of the General Obligation Bond Act, less (i) the pro rata | ||||||
26 | share of bond sale expenses determined by the System's share of |
| |||||||
| |||||||
1 | total bond proceeds, (ii) any amounts received from the General | ||||||
2 | Revenue Fund in fiscal year 2010, (iii) any reduction in bond | ||||||
3 | proceeds due to the issuance of discounted bonds, if | ||||||
4 | applicable. | ||||||
5 | Beginning in State fiscal year 2046, the minimum State | ||||||
6 | contribution for
each fiscal year shall be the amount needed to | ||||||
7 | maintain the total assets of
the System at 90% of the total | ||||||
8 | actuarial liabilities of the System.
| ||||||
9 | Amounts received by the System pursuant to Section 25 of | ||||||
10 | the Budget Stabilization Act or Section 8.12 of the State | ||||||
11 | Finance Act in any fiscal year do not reduce and do not | ||||||
12 | constitute payment of any portion of the minimum State | ||||||
13 | contribution required under this Article in that fiscal year. | ||||||
14 | Such amounts shall not reduce, and shall not be included in the | ||||||
15 | calculation of, the required State contributions under this | ||||||
16 | Article in any future year until the System has reached a | ||||||
17 | funding ratio of at least 90%. A reference in this Article to | ||||||
18 | the "required State contribution" or any substantially similar | ||||||
19 | term does not include or apply to any amounts payable to the | ||||||
20 | System under Section 25 of the Budget Stabilization Act. | ||||||
21 | Notwithstanding any other provision of this Section, the | ||||||
22 | required State
contribution for State fiscal year 2005 and for | ||||||
23 | fiscal year 2008 and each fiscal year thereafter, as
calculated | ||||||
24 | under this Section and
certified under Section 15-165, shall | ||||||
25 | not exceed an amount equal to (i) the
amount of the required | ||||||
26 | State contribution that would have been calculated under
this |
| |||||||
| |||||||
1 | Section for that fiscal year if the System had not received any | ||||||
2 | payments
under subsection (d) of Section 7.2 of the General | ||||||
3 | Obligation Bond Act, minus
(ii) the portion of the State's | ||||||
4 | total debt service payments for that fiscal
year on the bonds | ||||||
5 | issued for the purposes of that Section 7.2, as determined
and | ||||||
6 | certified by the Comptroller, that is the same as the System's | ||||||
7 | portion of
the total moneys distributed under subsection (d) of | ||||||
8 | Section 7.2 of the General
Obligation Bond Act. In determining | ||||||
9 | this maximum for State fiscal years 2008 through 2010, however, | ||||||
10 | the amount referred to in item (i) shall be increased, as a | ||||||
11 | percentage of the applicable employee payroll, in equal | ||||||
12 | increments calculated from the sum of the required State | ||||||
13 | contribution for State fiscal year 2007 plus the applicable | ||||||
14 | portion of the State's total debt service payments for fiscal | ||||||
15 | year 2007 on the bonds issued for the purposes of Section 7.2 | ||||||
16 | of the General
Obligation Bond Act, so that, by State fiscal | ||||||
17 | year 2011, the
State is contributing at the rate otherwise | ||||||
18 | required under this Section.
| ||||||
19 | (b) If an employee is paid from trust or federal funds, the | ||||||
20 | employer
shall pay to the Board contributions from those funds | ||||||
21 | which are
sufficient to cover the accruing normal costs on | ||||||
22 | behalf of the employee.
However, universities having employees | ||||||
23 | who are compensated out of local
auxiliary funds, income funds, | ||||||
24 | or service enterprise funds are not required
to pay such | ||||||
25 | contributions on behalf of those employees. The local auxiliary
| ||||||
26 | funds, income funds, and service enterprise funds of |
| |||||||
| |||||||
1 | universities shall not be
considered trust funds for the | ||||||
2 | purpose of this Article, but funds of alumni
associations, | ||||||
3 | foundations, and athletic associations which are affiliated | ||||||
4 | with
the universities included as employers under this Article | ||||||
5 | and other employers
which do not receive State appropriations | ||||||
6 | are considered to be trust funds for
the purpose of this | ||||||
7 | Article.
| ||||||
8 | (b-1) The City of Urbana and the City of Champaign shall | ||||||
9 | each make
employer contributions to this System for their | ||||||
10 | respective firefighter
employees who participate in this | ||||||
11 | System pursuant to subsection (h) of Section
15-107. The rate | ||||||
12 | of contributions to be made by those municipalities shall
be | ||||||
13 | determined annually by the Board on the basis of the actuarial | ||||||
14 | assumptions
adopted by the Board and the recommendations of the | ||||||
15 | actuary, and shall be
expressed as a percentage of salary for | ||||||
16 | each such employee. The Board shall
certify the rate to the | ||||||
17 | affected municipalities as soon as may be practical.
The | ||||||
18 | employer contributions required under this subsection shall be | ||||||
19 | remitted by
the municipality to the System at the same time and | ||||||
20 | in the same manner as
employee contributions.
| ||||||
21 | (c) Through State fiscal year 1995: The total employer | ||||||
22 | contribution shall
be apportioned among the various funds of | ||||||
23 | the State and other employers,
whether trust, federal, or other | ||||||
24 | funds, in accordance with actuarial procedures
approved by the | ||||||
25 | Board. State of Illinois contributions for employers receiving
| ||||||
26 | State appropriations for personal services shall be payable |
| |||||||
| |||||||
1 | from appropriations
made to the employers or to the System. The | ||||||
2 | contributions for Class I
community colleges covering earnings | ||||||
3 | other than those paid from trust and
federal funds, shall be | ||||||
4 | payable solely from appropriations to the Illinois
Community | ||||||
5 | College Board or the System for employer contributions.
| ||||||
6 | (d) Beginning in State fiscal year 1996, the required State | ||||||
7 | contributions
to the System shall be appropriated directly to | ||||||
8 | the System and shall be payable
through vouchers issued in | ||||||
9 | accordance with subsection (c) of Section 15-165, except as | ||||||
10 | provided in subsection (g).
| ||||||
11 | (e) The State Comptroller shall draw warrants payable to | ||||||
12 | the System upon
proper certification by the System or by the | ||||||
13 | employer in accordance with the
appropriation laws and this | ||||||
14 | Code.
| ||||||
15 | (f) Normal costs under this Section means liability for
| ||||||
16 | pensions and other benefits which accrues to the System because | ||||||
17 | of the
credits earned for service rendered by the participants | ||||||
18 | during the
fiscal year and expenses of administering the | ||||||
19 | System, but shall not
include the principal of or any | ||||||
20 | redemption premium or interest on any bonds
issued by the Board | ||||||
21 | or any expenses incurred or deposits required in
connection | ||||||
22 | therewith.
| ||||||
23 | (g) If the amount of a participant's earnings for any | ||||||
24 | academic year used to determine the final rate of earnings, | ||||||
25 | determined on a full-time equivalent basis, exceeds the amount | ||||||
26 | of his or her earnings with the same employer for the previous |
| |||||||
| |||||||
1 | academic year, determined on a full-time equivalent basis, by | ||||||
2 | more than 6%, the participant's employer shall pay to the | ||||||
3 | System, in addition to all other payments required under this | ||||||
4 | Section and in accordance with guidelines established by the | ||||||
5 | System, the present value of the increase in benefits resulting | ||||||
6 | from the portion of the increase in earnings that is in excess | ||||||
7 | of 6%. This present value shall be computed by the System on | ||||||
8 | the basis of the actuarial assumptions and tables used in the | ||||||
9 | most recent actuarial valuation of the System that is available | ||||||
10 | at the time of the computation. The System may require the | ||||||
11 | employer to provide any pertinent information or | ||||||
12 | documentation. | ||||||
13 | Whenever it determines that a payment is or may be required | ||||||
14 | under this subsection (g), the System shall calculate the | ||||||
15 | amount of the payment and bill the employer for that amount. | ||||||
16 | The bill shall specify the calculations used to determine the | ||||||
17 | amount due. If the employer disputes the amount of the bill, it | ||||||
18 | may, within 30 days after receipt of the bill, apply to the | ||||||
19 | System in writing for a recalculation. The application must | ||||||
20 | specify in detail the grounds of the dispute and, if the | ||||||
21 | employer asserts that the calculation is subject to subsection | ||||||
22 | (h) or (i) of this Section, must include an affidavit setting | ||||||
23 | forth and attesting to all facts within the employer's | ||||||
24 | knowledge that are pertinent to the applicability of subsection | ||||||
25 | (h) or (i). Upon receiving a timely application for | ||||||
26 | recalculation, the System shall review the application and, if |
| |||||||
| |||||||
1 | appropriate, recalculate the amount due.
| ||||||
2 | The employer contributions required under this subsection | ||||||
3 | (f) may be paid in the form of a lump sum within 90 days after | ||||||
4 | receipt of the bill. If the employer contributions are not paid | ||||||
5 | within 90 days after receipt of the bill, then interest will be | ||||||
6 | charged at a rate equal to the System's annual actuarially | ||||||
7 | assumed rate of return on investment compounded annually from | ||||||
8 | the 91st day after receipt of the bill. Payments must be | ||||||
9 | concluded within 3 years after the employer's receipt of the | ||||||
10 | bill. | ||||||
11 | (h) This subsection (h) applies only to payments made or | ||||||
12 | salary increases given on or after June 1, 2005 but before July | ||||||
13 | 1, 2011. The changes made by Public Act 94-1057 shall not | ||||||
14 | require the System to refund any payments received before July | ||||||
15 | 31, 2006 (the effective date of Public Act 94-1057). | ||||||
16 | When assessing payment for any amount due under subsection | ||||||
17 | (g), the System shall exclude earnings increases paid to | ||||||
18 | participants under contracts or collective bargaining | ||||||
19 | agreements entered into, amended, or renewed before June 1, | ||||||
20 | 2005.
| ||||||
21 | When assessing payment for any amount due under subsection | ||||||
22 | (g), the System shall exclude earnings increases paid to a | ||||||
23 | participant at a time when the participant is 10 or more years | ||||||
24 | from retirement eligibility under Section 15-135.
| ||||||
25 | When assessing payment for any amount due under subsection | ||||||
26 | (g), the System shall exclude earnings increases resulting from |
| |||||||
| |||||||
1 | overload work, including a contract for summer teaching, or | ||||||
2 | overtime when the employer has certified to the System, and the | ||||||
3 | System has approved the certification, that: (i) in the case of | ||||||
4 | overloads (A) the overload work is for the sole purpose of | ||||||
5 | academic instruction in excess of the standard number of | ||||||
6 | instruction hours for a full-time employee occurring during the | ||||||
7 | academic year that the overload is paid and (B) the earnings | ||||||
8 | increases are equal to or less than the rate of pay for | ||||||
9 | academic instruction computed using the participant's current | ||||||
10 | salary rate and work schedule; and (ii) in the case of | ||||||
11 | overtime, the overtime was necessary for the educational | ||||||
12 | mission. | ||||||
13 | When assessing payment for any amount due under subsection | ||||||
14 | (g), the System shall exclude any earnings increase resulting | ||||||
15 | from (i) a promotion for which the employee moves from one | ||||||
16 | classification to a higher classification under the State | ||||||
17 | Universities Civil Service System, (ii) a promotion in academic | ||||||
18 | rank for a tenured or tenure-track faculty position, or (iii) a | ||||||
19 | promotion that the Illinois Community College Board has | ||||||
20 | recommended in accordance with subsection (k) of this Section. | ||||||
21 | These earnings increases shall be excluded only if the | ||||||
22 | promotion is to a position that has existed and been filled by | ||||||
23 | a member for no less than one complete academic year and the | ||||||
24 | earnings increase as a result of the promotion is an increase | ||||||
25 | that results in an amount no greater than the average salary | ||||||
26 | paid for other similar positions. |
| |||||||
| |||||||
1 | (i) When assessing payment for any amount due under | ||||||
2 | subsection (g), the System shall exclude any salary increase | ||||||
3 | described in subsection (h) of this Section given on or after | ||||||
4 | July 1, 2011 but before July 1, 2014 under a contract or | ||||||
5 | collective bargaining agreement entered into, amended, or | ||||||
6 | renewed on or after June 1, 2005 but before July 1, 2011. | ||||||
7 | Notwithstanding any other provision of this Section, any | ||||||
8 | payments made or salary increases given after June 30, 2014 | ||||||
9 | shall be used in assessing payment for any amount due under | ||||||
10 | subsection (g) of this Section.
| ||||||
11 | (j) The System shall prepare a report and file copies of | ||||||
12 | the report with the Governor and the General Assembly by | ||||||
13 | January 1, 2007 that contains all of the following information: | ||||||
14 | (1) The number of recalculations required by the | ||||||
15 | changes made to this Section by Public Act 94-1057 for each | ||||||
16 | employer. | ||||||
17 | (2) The dollar amount by which each employer's | ||||||
18 | contribution to the System was changed due to | ||||||
19 | recalculations required by Public Act 94-1057. | ||||||
20 | (3) The total amount the System received from each | ||||||
21 | employer as a result of the changes made to this Section by | ||||||
22 | Public Act 94-4. | ||||||
23 | (4) The increase in the required State contribution | ||||||
24 | resulting from the changes made to this Section by Public | ||||||
25 | Act 94-1057. | ||||||
26 | (k) The Illinois Community College Board shall adopt rules |
| |||||||
| |||||||
1 | for recommending lists of promotional positions submitted to | ||||||
2 | the Board by community colleges and for reviewing the | ||||||
3 | promotional lists on an annual basis. When recommending | ||||||
4 | promotional lists, the Board shall consider the similarity of | ||||||
5 | the positions submitted to those positions recognized for State | ||||||
6 | universities by the State Universities Civil Service System. | ||||||
7 | The Illinois Community College Board shall file a copy of its | ||||||
8 | findings with the System. The System shall consider the | ||||||
9 | findings of the Illinois Community College Board when making | ||||||
10 | determinations under this Section. The System shall not exclude | ||||||
11 | any earnings increases resulting from a promotion when the | ||||||
12 | promotion was not submitted by a community college. Nothing in | ||||||
13 | this subsection (k) shall require any community college to | ||||||
14 | submit any information to the Community College Board.
| ||||||
15 | (l) For purposes of determining the required State | ||||||
16 | contribution to the System, the value of the System's assets | ||||||
17 | shall be equal to the actuarial value of the System's assets, | ||||||
18 | which shall be calculated as follows: | ||||||
19 | As of June 30, 2008, the actuarial value of the System's | ||||||
20 | assets shall be equal to the market value of the assets as of | ||||||
21 | that date. In determining the actuarial value of the System's | ||||||
22 | assets for fiscal years after June 30, 2008, any actuarial | ||||||
23 | gains or losses from investment return incurred in a fiscal | ||||||
24 | year shall be recognized in equal annual amounts over the | ||||||
25 | 5-year period following that fiscal year. | ||||||
26 | (m) For purposes of determining the required State |
| |||||||
| |||||||
1 | contribution to the system for a particular year, the actuarial | ||||||
2 | value of assets shall be assumed to earn a rate of return equal | ||||||
3 | to the system's actuarially assumed rate of return. | ||||||
4 | (Source: P.A. 95-331, eff. 8-21-07; 95-950, eff. 8-29-08; | ||||||
5 | 96-43, eff. 7-15-09.)
| ||||||
6 | Section 15. The University of Illinois at Springfield Law | ||||||
7 | is amended by changing Section 40-10 as follows:
| ||||||
8 | (110 ILCS 327/40-10)
| ||||||
9 | Sec. 40-10.
Transfer of powers, duties, assets; | ||||||
10 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
11 | powers and duties vested by law in the
Board of Regents and | ||||||
12 | relating to the operation, management, control and
maintenance | ||||||
13 | of Sangamon State University prior to its change of name and | ||||||
14 | status
to the University of Illinois at Springfield are hereby | ||||||
15 | transferred to and
vested in the Board of Trustees of the | ||||||
16 | University of Illinois.
| ||||||
17 | All books, records, papers, documents and pending business | ||||||
18 | in any way
pertaining to Sangamon State University prior to its | ||||||
19 | change of name and status
to the University of Illinois at | ||||||
20 | Springfield and held by the Board of Regents
are hereby | ||||||
21 | transferred from the Board of Regents to the Board of Trustees | ||||||
22 | of
the University of Illinois.
| ||||||
23 | On the effective date of this Article, the rules and | ||||||
24 | regulations previously
promulgated by the Board of Regents and |
| |||||||
| |||||||
1 | applicable to Sangamon State University
shall be the rules and | ||||||
2 | regulations applicable to the University of Illinois at
| ||||||
3 | Springfield, provided that, after the effective date of this | ||||||
4 | Article, any or
all of the rules and regulations may be changed | ||||||
5 | or rescinded by the Board of
Trustees of the University of | ||||||
6 | Illinois.
| ||||||
7 | All items of income heretofore received by Sangamon State | ||||||
8 | University
prior to its change of name and status to the | ||||||
9 | University of Illinois at
Springfield and paid into the State | ||||||
10 | Treasury and covered into the Board of
Regents Income Fund and | ||||||
11 | not heretofore appropriated by the General Assembly
for the | ||||||
12 | support and improvement of Sangamon State University under the
| ||||||
13 | provisions of paragraph (1) of Section 6a-4 of the State | ||||||
14 | Finance Act or for the
support and improvement of the | ||||||
15 | University of Illinois under the provisions of
paragraph (1) of | ||||||
16 | Section 6d of the State Finance Act shall be transferred by
the | ||||||
17 | State Treasurer and covered into the University Income Fund for
| ||||||
18 | appropriations from time to time to be made by the General | ||||||
19 | Assembly payable
from such fund for the support and improvement | ||||||
20 | of the University of Illinois
and its branches as provided in | ||||||
21 | paragraph (1) of Section 6d of that Act ;
provided that within | ||||||
22 | 10 days after the effective date of this amendatory Act of
| ||||||
23 | 1996, all moneys then remaining in the University Income Fund | ||||||
24 | heretofore
established as a special fund in the State Treasury | ||||||
25 | shall be paid to the
University of Illinois and deposited and | ||||||
26 | credited to the University Income Fund
established by the |
| |||||||
| |||||||
1 | University of Illinois in its own treasury as provided in
| ||||||
2 | paragraph (1) of Section 6d of the State Finance Act .
| ||||||
3 | The right of custody, possession and control over all items | ||||||
4 | of income, funds
or deposits in any way pertaining to Sangamon | ||||||
5 | State University prior to its
change of name and status to the | ||||||
6 | University of Illinois at Springfield, which
on the effective | ||||||
7 | date of this Article are held or retained by, or under the
| ||||||
8 | jurisdiction of the Board of Regents under the authority of | ||||||
9 | paragraph (2)
of Section 6a-4 of the State Finance Act, is | ||||||
10 | hereby transferred to and vested
in the Board of Trustees of | ||||||
11 | the University of Illinois to be retained by the
University in | ||||||
12 | its own treasury, or deposited with a bank or savings and loan
| ||||||
13 | association, all in accordance with the provisions of paragraph | ||||||
14 | (2)
of Section 6d of that Act.
| ||||||
15 | There is hereby transferred from the Board of Regents to | ||||||
16 | the Board of
Trustees of the University of Illinois the power | ||||||
17 | of order and direction
over the disbursement of those funds | ||||||
18 | which immediately prior to the
effective date of this Article | ||||||
19 | were retained by Sangamon State
University (prior to its change | ||||||
20 | of name and status to the University of
Illinois at | ||||||
21 | Springfield) in its own treasury under the authority of | ||||||
22 | paragraph
(3) of Section 6a-4 of the State Finance Act; | ||||||
23 | provided that such funds shall be
disbursed from time to time | ||||||
24 | pursuant to the order and direction of the Board of
Trustees in | ||||||
25 | accordance with any contracts, pledges, trusts or agreements
| ||||||
26 | heretofore made with respect to the use or application of such |
| |||||||
| |||||||
1 | funds by the
Board of Regents.
| ||||||
2 | The Board of Trustees of the University of Illinois shall | ||||||
3 | succeed to, assume
and exercise all rights, powers, duties and | ||||||
4 | responsibilities formerly exercised
by the Board of Regents on | ||||||
5 | behalf of Sangamon State University (now known as
the | ||||||
6 | University of Illinois at Springfield) prior to the effective | ||||||
7 | date of this
Article. All contracts and agreements entered into | ||||||
8 | by the Board of Regents on
behalf of Sangamon State University | ||||||
9 | (now known as the University of Illinois at
Springfield) prior | ||||||
10 | to the effective date of this Article shall subsist
| ||||||
11 | notwithstanding the transfer of the functions of the Board of | ||||||
12 | Regents with
respect to Sangamon State University (now known as | ||||||
13 | the University of Illinois
at Springfield) to the Board of | ||||||
14 | Trustees of the University of Illinois. All
bonds, notes, and | ||||||
15 | other evidences of indebtedness outstanding on the effective
| ||||||
16 | date of this Article issued by the Board of Regents on behalf | ||||||
17 | of Sangamon State
University (now known as the University of | ||||||
18 | Illinois at Springfield) shall
become the bonds, notes, or | ||||||
19 | other evidences of indebtedness of the University
of Illinois | ||||||
20 | and shall be otherwise unaffected by the transfer of functions
| ||||||
21 | to the Board of Trustees of the University of Illinois. Any | ||||||
22 | action,
including without limitation, approvals of | ||||||
23 | applications for bonds and
resolutions constituting official | ||||||
24 | action under the Internal Revenue Code by
the Board of Regents | ||||||
25 | prior to the effective date of this Article shall remain
| ||||||
26 | effective to the same extent as if that action had been taken |
| |||||||
| |||||||
1 | by the Board of
Trustees of the University of Illinois and | ||||||
2 | shall be deemed to be action taken
by that Board of Trustees | ||||||
3 | for the University of Illinois at Springfield.
| ||||||
4 | The title to all other property, whether real, personal or | ||||||
5 | mixed, and all
accounts receivable belonging to or under the | ||||||
6 | jurisdiction of the Board of
Regents for Sangamon State | ||||||
7 | University prior to its change of name and status to
the | ||||||
8 | University of Illinois at Springfield is hereby transferred to | ||||||
9 | and vested
in the Board of Trustees of the University of | ||||||
10 | Illinois to be held for the
People of the State of Illinois.
| ||||||
11 | (Source: P.A. 89-4, eff. 7-1-95 (eff. date changed from 1-1-96 | ||||||
12 | by P.A.
89-24); 89-602, eff. 8-2-96.)
| ||||||
13 | Section 20. The Chicago State University Law is amended by | ||||||
14 | changing Section 5-35 as follows:
| ||||||
15 | (110 ILCS 660/5-35)
| ||||||
16 | Sec. 5-35.
Transfer of powers, duties, assets; outstanding | ||||||
17 | contracts,
agreements and bonds. All the rights, powers and | ||||||
18 | duties vested by law in the
Board of Governors of State | ||||||
19 | Colleges and Universities and relating to the
operation, | ||||||
20 | management, control and maintenance of Chicago State | ||||||
21 | University are
hereby transferred to and vested in the Board of | ||||||
22 | Trustees of Chicago State
University.
| ||||||
23 | All books, records, papers, documents and pending business | ||||||
24 | in any way
pertaining to Chicago State University and held by |
| |||||||
| |||||||
1 | the Board of Governors of
State Colleges and Universities are | ||||||
2 | hereby transferred from the Board of
Governors of State | ||||||
3 | Colleges and Universities to the Board of Trustees of
Chicago | ||||||
4 | State University.
| ||||||
5 | The employment of the president and all other academic and | ||||||
6 | nonacademic
personnel of Chicago State University is hereby | ||||||
7 | transferred from the
Board of Governors of State Colleges and | ||||||
8 | Universities to the Board of Trustees
of Chicago State | ||||||
9 | University,
but the status and rights of all personnel whose | ||||||
10 | employment is so
transferred under the State Universities Civil | ||||||
11 | Service System, under the
State Universities Retirement System | ||||||
12 | and under any other contract or
benefit plan shall be | ||||||
13 | unaffected thereby.
| ||||||
14 | No rule or regulation promulgated by the Board of Governors | ||||||
15 | of State Colleges
and Universities prior to the effective date | ||||||
16 | of this Article
pursuant to an exercise of any right, power, | ||||||
17 | duty, responsibility or matter
of pending business transferred | ||||||
18 | from the Board of Governors of State Colleges
and Universities | ||||||
19 | to the Board of
Trustees of Chicago State University under the | ||||||
20 | provisions of this
Article shall be affected thereby, and all | ||||||
21 | such rules and
regulations shall become the rules and | ||||||
22 | regulations of the Board of Trustees
of Chicago State | ||||||
23 | University.
| ||||||
24 | All items of income heretofore received by Chicago State | ||||||
25 | University
and paid into the State Treasury and covered into | ||||||
26 | the Board of Governors of
State Colleges and Universities
|
| |||||||
| |||||||
1 | Income Fund and not heretofore appropriated by the General | ||||||
2 | Assembly for the
support and improvement of Chicago State | ||||||
3 | University under the
provisions of paragraph (1) of Section 6a | ||||||
4 | of the State Finance Act
shall be transferred by the
State | ||||||
5 | Treasurer and covered into the Chicago State University Income
| ||||||
6 | Fund for appropriations from time to time to be made by the | ||||||
7 | General
Assembly payable from such fund for the support and | ||||||
8 | improvement of Chicago
State University as provided in | ||||||
9 | paragraph (1) of Section 6a-1c of that Act ;
provided that | ||||||
10 | within 10 days after the effective date of this amendatory
Act | ||||||
11 | of 1996, all moneys then remaining in the Chicago State | ||||||
12 | University Income
Fund
heretofore established as a special fund | ||||||
13 | in the State Treasury shall be repaid
to the University to be | ||||||
14 | deposited and credited to the University Income Fund
| ||||||
15 | established by Chicago State University in its own treasury as | ||||||
16 | provided in
paragraph (1) of Section 6a-1c of the State Finance | ||||||
17 | Act .
| ||||||
18 | The right of custody, possession and control over all items | ||||||
19 | of income, funds
or deposits in any
way pertaining to Chicago | ||||||
20 | State University, which on the effective date
of this Article | ||||||
21 | are held or retained by, or under the
jurisdiction of the Board | ||||||
22 | of Governors of State Colleges and Universities under
the | ||||||
23 | authority of paragraph (2)
of Section 6a of the State Finance | ||||||
24 | Act,
is hereby transferred to and vested in the Board of
| ||||||
25 | Trustees of Chicago State University to be retained by the | ||||||
26 | University
in its own treasury, or deposited with a bank or |
| |||||||
| |||||||
1 | savings and loan
association, all in accordance with the | ||||||
2 | provisions of paragraphs (2) and
(6) of Section 6a-1c of that | ||||||
3 | Act.
| ||||||
4 | There is hereby transferred from the Board of Governors of | ||||||
5 | State Colleges and
Universities to the Board of
Trustees of | ||||||
6 | Chicago State University the power of order and direction
over | ||||||
7 | the disbursement of those funds which immediately prior to the
| ||||||
8 | effective date of this Article were retained by Chicago State | ||||||
9 | University in its
own treasury under the authority of
Section | ||||||
10 | 6a-2 of the State Finance Act;
provided that such funds shall | ||||||
11 | be disbursed from time to time
pursuant to the order and | ||||||
12 | direction of the Board of Trustees in accordance
with any | ||||||
13 | contracts, pledges, trusts or agreements heretofore made with
| ||||||
14 | respect to the use or application of such funds by the
Teachers | ||||||
15 | College Board or the Board of Governors of State Colleges and
| ||||||
16 | Universities.
| ||||||
17 | Chicago State University shall succeed to, assume and | ||||||
18 | exercise all rights,
powers, duties and responsibilities | ||||||
19 | formerly exercised by the Board of
Governors of State Colleges | ||||||
20 | and Universities on behalf of Chicago State
University prior to | ||||||
21 | the effective date of this Article. All contracts and
| ||||||
22 | agreements entered into by the Board of Governors of State | ||||||
23 | Colleges and
Universities on behalf of Chicago State University | ||||||
24 | prior to the effective date
of this Article shall be valid and | ||||||
25 | shall subsist notwithstanding the abolition
of the Board of | ||||||
26 | Governors of State Colleges and Universities and the repeal of
|
| |||||||
| |||||||
1 | the Board of Governors Act and notwithstanding the transfer or | ||||||
2 | the functions of
the Board of Governors of State Colleges and | ||||||
3 | Universities with respect to
Chicago State University to the | ||||||
4 | Board of Trustees of Chicago State University.
All bonds, | ||||||
5 | notes, and other evidences of indebtedness outstanding on the
| ||||||
6 | effective date of this Article issued by the Teachers College | ||||||
7 | Board or the
Board of Governors of State Colleges and | ||||||
8 | Universities on behalf of Chicago
State University shall become | ||||||
9 | the bonds, notes or other evidences of
indebtedness of Chicago | ||||||
10 | State University and shall be otherwise unaffected by
the | ||||||
11 | transfer of functions to Chicago State University. Any action, | ||||||
12 | including
without limitation, approvals of applications for | ||||||
13 | bonds and resolutions
constituting official action under the | ||||||
14 | Internal Revenue Code by the Teachers
College Board or Board of | ||||||
15 | Governors of State Colleges and Universities prior to
the | ||||||
16 | effective date of this Article shall remain effective to the | ||||||
17 | same extent as
if that action had been taken by Chicago State | ||||||
18 | University and shall be deemed
to be action taken by Chicago | ||||||
19 | State University.
| ||||||
20 | The title to all other property, whether real, personal or | ||||||
21 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
22 | Governors of State
Colleges and Universities for Chicago
State | ||||||
23 | University is hereby transferred to and vested in the Board of
| ||||||
24 | Trustees of Chicago State University to be held for the People | ||||||
25 | of the
State of Illinois for such University.
| ||||||
26 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
|
| |||||||
| |||||||
1 | Section 25. The Eastern Illinois University Law is amended | ||||||
2 | by changing Section 10-35 as follows:
| ||||||
3 | (110 ILCS 665/10-35)
| ||||||
4 | Sec. 10-35.
Transfer of powers, duties, assets; | ||||||
5 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
6 | powers and duties vested by law in the
Board of Governors of | ||||||
7 | State Colleges and Universities and relating to the
operation, | ||||||
8 | management, control and maintenance of Eastern Illinois | ||||||
9 | University
are hereby transferred to and vested in the Board of | ||||||
10 | Trustees of Eastern
Illinois University.
| ||||||
11 | All books, records, papers, documents and pending business | ||||||
12 | in any way
pertaining to Eastern Illinois
University and held | ||||||
13 | by the Board of Governors of State Colleges and
Universities | ||||||
14 | are hereby transferred from the Board of Governors of State
| ||||||
15 | Colleges and Universities to the Board of
Trustees of Eastern | ||||||
16 | Illinois University.
| ||||||
17 | The employment of the president and all other academic and | ||||||
18 | nonacademic
personnel of Eastern Illinois University is hereby | ||||||
19 | transferred from the
Board of Governors of State Colleges and | ||||||
20 | Universities to the Board of Trustees
of Eastern Illinois | ||||||
21 | University,
but the status and rights of all personnel whose | ||||||
22 | employment is so
transferred under the State Universities Civil | ||||||
23 | Service System, under the
State Universities Retirement System | ||||||
24 | and under any other contract or
benefit plan shall be |
| |||||||
| |||||||
1 | unaffected thereby.
| ||||||
2 | No rule or regulation promulgated by the Board of Governors | ||||||
3 | of State Colleges
and Universities prior to the effective date | ||||||
4 | of this Article
pursuant to an exercise of any right, power, | ||||||
5 | duty, responsibility or matter
of pending business transferred | ||||||
6 | from the Board of Governors of State Colleges
and Universities | ||||||
7 | to the Board of
Trustees of Eastern Illinois University under | ||||||
8 | the provisions of this
Article shall be affected thereby, and | ||||||
9 | all such rules and
regulations shall become the rules and | ||||||
10 | regulations of the Board of Trustees
of Eastern Illinois | ||||||
11 | University.
| ||||||
12 | All items of income heretofore received by Eastern Illinois | ||||||
13 | University
and paid into the State Treasury and covered into | ||||||
14 | the Board of Governors of
State Colleges and Universities
| ||||||
15 | Income Fund and not heretofore appropriated by the General | ||||||
16 | Assembly for the
support and improvement of Eastern Illinois | ||||||
17 | University under the
provisions of paragraph (1) of Section 6a | ||||||
18 | of the State Finance Act
shall be transferred by the
State | ||||||
19 | Treasurer and covered into the Eastern Illinois University | ||||||
20 | Income
Fund for appropriations from time to time to be made by | ||||||
21 | the General
Assembly payable from such fund for the support and | ||||||
22 | improvement of Eastern
Illinois University as provided in | ||||||
23 | paragraph (1) of Section 6a-1d of that
Act ; provided that | ||||||
24 | within 10 days after the effective date of this amendatory
Act | ||||||
25 | of 1996, all moneys then remaining in the Eastern Illinois | ||||||
26 | University
Income Fund
heretofore established as a special fund |
| |||||||
| |||||||
1 | in the State Treasury shall be repaid
to the University to be | ||||||
2 | deposited and credited to the University Income Fund
| ||||||
3 | established by Eastern Illinois University in its own treasury | ||||||
4 | as provided
in paragraph (1) of Section 6a-1d of the State | ||||||
5 | Finance Act .
| ||||||
6 | The right of custody, possession and control over all items | ||||||
7 | of income, funds
or deposits in any
way pertaining to Eastern | ||||||
8 | Illinois University, which on the effective date
of this | ||||||
9 | Article are held or retained by, or under the
jurisdiction of | ||||||
10 | the Board of Governors of State Colleges and Universities under
| ||||||
11 | the authority of paragraph (2)
of Section 6a of the State | ||||||
12 | Finance Act,
is hereby transferred to and vested in the Board | ||||||
13 | of
Trustees of Eastern Illinois University to be retained by | ||||||
14 | the University
in its own treasury, or deposited with a bank or | ||||||
15 | savings and loan
association, all in accordance with the | ||||||
16 | provisions of paragraphs (2) and
(6) of Section 6a-1d of that | ||||||
17 | Act.
| ||||||
18 | There is hereby transferred from the Board of Governors of | ||||||
19 | State Colleges and
Universities to the Board of
Trustees of | ||||||
20 | Eastern Illinois University the power of order and direction
| ||||||
21 | over the disbursement of those funds which immediately prior to | ||||||
22 | the
effective date of this Article were retained by Eastern | ||||||
23 | Illinois University in
its
own treasury under the authority of
| ||||||
24 | Section 6a-2 of the State Finance Act;
provided that such funds | ||||||
25 | shall be disbursed from time to time
pursuant to the order and | ||||||
26 | direction of the Board of Trustees in accordance
with any |
| |||||||
| |||||||
1 | contracts, pledges, trusts or agreements heretofore made with
| ||||||
2 | respect to the use or application of such funds by the
Teachers | ||||||
3 | College Board or the Board of Governors of State Colleges and
| ||||||
4 | Universities.
| ||||||
5 | Eastern Illinois University shall succeed to, assume and | ||||||
6 | exercise all rights,
powers, duties and responsibilities | ||||||
7 | formerly exercised by the Board of
Governors of State Colleges | ||||||
8 | and Universities on behalf of Eastern Illinois
University prior | ||||||
9 | to the effective date of this Article. All contracts and
| ||||||
10 | agreements entered into by the Board of Governors of State | ||||||
11 | Colleges and
Universities on behalf of Eastern Illinois | ||||||
12 | University prior to the effective
date
of this Article shall be | ||||||
13 | valid and shall subsist notwithstanding the abolition
of the | ||||||
14 | Board of Governors of State Colleges and Universities and the | ||||||
15 | repeal of
the Board of Governors Act and notwithstanding the | ||||||
16 | transfer or the functions of
the Board of Governors of State | ||||||
17 | Colleges and Universities with respect to
Eastern Illinois | ||||||
18 | University to the Board of Trustees of Eastern Illinois
| ||||||
19 | University.
All bonds, notes, and other evidences of | ||||||
20 | indebtedness outstanding on the
effective date of this Article | ||||||
21 | issued by the Teachers College Board or the
Board of Governors | ||||||
22 | of State Colleges and Universities on behalf of Eastern
| ||||||
23 | Illinois University shall become the bonds, notes or other | ||||||
24 | evidences of
indebtedness of Eastern Illinois University and | ||||||
25 | shall be otherwise unaffected
by the transfer of functions to | ||||||
26 | Eastern Illinois University. Any action,
including
without |
| |||||||
| |||||||
1 | limitation, approvals of applications for bonds and | ||||||
2 | resolutions
constituting official action under the Internal | ||||||
3 | Revenue Code by the Teachers
College Board or Board of | ||||||
4 | Governors of State Colleges and Universities prior to
the | ||||||
5 | effective date of this Article shall remain effective to the | ||||||
6 | same extent as
if that action had been taken by Eastern | ||||||
7 | Illinois University and shall be
deemed to be action taken by | ||||||
8 | Eastern Illinois University.
| ||||||
9 | The title to all other property, whether real, personal or | ||||||
10 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
11 | Governors of State
Colleges and Universities for Eastern | ||||||
12 | Illinois University is hereby transferred
to and vested in the | ||||||
13 | Board of
Trustees of Eastern Illinois University to be held for | ||||||
14 | the People of the
State of Illinois for such University.
| ||||||
15 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
16 | Section 30. The Governors State University Law is amended | ||||||
17 | by changing Section 15-35 as follows:
| ||||||
18 | (110 ILCS 670/15-35)
| ||||||
19 | Sec. 15-35.
Transfer of powers, duties, assets; | ||||||
20 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
21 | powers and duties vested by law in the
Board of Governors of | ||||||
22 | State Colleges and Universities and relating to the
operation, | ||||||
23 | management, control and maintenance of Governors State | ||||||
24 | University
are hereby transferred to and vested in the Board of |
| |||||||
| |||||||
1 | Trustees of Governors
State University.
| ||||||
2 | All books, records,
papers, documents and pending business | ||||||
3 | in any way pertaining to Governors State
University and held by | ||||||
4 | the Board of Governors of State Colleges and
Universities are | ||||||
5 | hereby transferred from the Board of Governors of State
| ||||||
6 | Colleges and Universities to the Board of
Trustees of Governors | ||||||
7 | State University.
| ||||||
8 | The employment of the president and all other academic and | ||||||
9 | nonacademic
personnel of Governors State University is hereby | ||||||
10 | transferred from the
Board of Governors of State Colleges and | ||||||
11 | Universities to the Board of Trustees
of Governors State | ||||||
12 | University,
but the status and rights of all personnel whose | ||||||
13 | employment is so
transferred under the State Universities Civil | ||||||
14 | Service System, under the
State Universities Retirement System | ||||||
15 | and under any other contract or
benefit plan shall be | ||||||
16 | unaffected thereby.
| ||||||
17 | No rule or regulation promulgated by the Board of Governors | ||||||
18 | of State Colleges
and Universities prior to the effective date | ||||||
19 | of this Article
pursuant to an exercise of any right, power, | ||||||
20 | duty, responsibility or matter
of pending business transferred | ||||||
21 | from the Board of Governors of State Colleges
and Universities | ||||||
22 | to the Board of
Trustees of Governors State University under | ||||||
23 | the provisions of this
Article shall be affected thereby, and | ||||||
24 | all such rules and
regulations shall become the rules and | ||||||
25 | regulations of the Board of Trustees
of Governors State | ||||||
26 | University.
|
| |||||||
| |||||||
1 | All items of income heretofore received by Governors State | ||||||
2 | University
and paid into the State Treasury and covered into | ||||||
3 | the Board of Governors of
State Colleges and Universities
| ||||||
4 | Income Fund and not heretofore appropriated by the General | ||||||
5 | Assembly for the
support and improvement of Governors State | ||||||
6 | University under the
provisions of paragraph (1) of Section 6a | ||||||
7 | of the State Finance Act
shall be transferred by the
State | ||||||
8 | Treasurer and covered into the Governors State University | ||||||
9 | Income
Fund for appropriations from time to time to be made by | ||||||
10 | the General
Assembly payable from such fund for the support and | ||||||
11 | improvement of Governors
State University as provided in | ||||||
12 | paragraph (1) of Section 6a-1e of that Act ;
provided that | ||||||
13 | within 10 days after the effective date of this amendatory
Act | ||||||
14 | of 1996, all moneys then remaining in the Governors State | ||||||
15 | University Income
Fund
heretofore established as a special fund | ||||||
16 | in the State Treasury shall be repaid
to the University to be | ||||||
17 | deposited and credited to the University Income Fund
| ||||||
18 | established by Governors State University in its own treasury | ||||||
19 | as provided
in paragraph (1) of Section 6a-1e of the State | ||||||
20 | Finance Act .
| ||||||
21 | The right of custody, possession and control over all items | ||||||
22 | of income, funds
or deposits in any
way pertaining to Governors | ||||||
23 | State University, which on the effective date
of this Article | ||||||
24 | are held or retained by, or under the
jurisdiction of the Board | ||||||
25 | of Governors of State Colleges and Universities under
the | ||||||
26 | authority of paragraph (2) of Section 6a of the State Finance |
| |||||||
| |||||||
1 | Act,
is hereby transferred to and vested in the Board of
| ||||||
2 | Trustees of Governors State University to be retained by the | ||||||
3 | University
in its own treasury, or deposited with a bank or | ||||||
4 | savings and loan
association, all in accordance with the | ||||||
5 | provisions of paragraphs (2) and
(6) of Section 6a-1e of that | ||||||
6 | Act.
| ||||||
7 | There is hereby transferred from the Board of Governors of | ||||||
8 | State Colleges and
Universities to the Board of
Trustees of | ||||||
9 | Governors State University the power of order and direction
| ||||||
10 | over the disbursement of those funds which immediately prior to | ||||||
11 | the
effective date of this Article were retained by Governors | ||||||
12 | State University in
its
own treasury under the authority of | ||||||
13 | Section 6a-2 of the State Finance Act;
provided that such funds | ||||||
14 | shall be disbursed from time to time
pursuant to the order and | ||||||
15 | direction of the Board of Trustees in accordance
with any | ||||||
16 | contracts, pledges, trusts or agreements heretofore made with
| ||||||
17 | respect to the use or application of such funds by the
Teachers | ||||||
18 | College Board or the Board of Governors of State Colleges and
| ||||||
19 | Universities.
| ||||||
20 | Governors State University shall succeed to, assume and | ||||||
21 | exercise all rights,
powers, duties and responsibilities | ||||||
22 | formerly exercised by the Board of
Governors of State Colleges | ||||||
23 | and Universities on behalf of Governors State
University prior | ||||||
24 | to the effective date of this Article. All contracts and
| ||||||
25 | agreements entered into by the Board of Governors of State | ||||||
26 | Colleges and
Universities on behalf of Governors State |
| |||||||
| |||||||
1 | University prior to the effective
date
of this Article shall be | ||||||
2 | valid and shall subsist notwithstanding the abolition
of the | ||||||
3 | Board of Governors of State Colleges and Universities and the | ||||||
4 | repeal of
the Board of Governors Act and notwithstanding the | ||||||
5 | transfer or the functions of
the Board of Governors of State | ||||||
6 | Colleges and Universities with respect to
Governors State | ||||||
7 | University to the Board of Trustees of Governors State
| ||||||
8 | University.
All bonds, notes, and other evidences of | ||||||
9 | indebtedness outstanding on the
effective date of this Article | ||||||
10 | issued by the Teachers College Board or the
Board of Governors | ||||||
11 | of State Colleges and Universities on behalf of Governors
State | ||||||
12 | University shall become the bonds, notes or other evidences of
| ||||||
13 | indebtedness of Governors State University and shall be | ||||||
14 | otherwise unaffected by
the transfer of functions to Governors | ||||||
15 | State University. Any action, including
without limitation, | ||||||
16 | approvals of applications for bonds and resolutions
| ||||||
17 | constituting official action under the Internal Revenue Code by | ||||||
18 | the Teachers
College Board or Board of Governors of State | ||||||
19 | Colleges and Universities prior to
the effective date of this | ||||||
20 | Article shall remain effective to the same extent as
if that | ||||||
21 | action had been taken by Governors State University and shall | ||||||
22 | be deemed
to be action taken by Governors State University.
| ||||||
23 | The title to all other property, whether real, personal or | ||||||
24 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
25 | Governors of State
Colleges and Universities for Governors | ||||||
26 | State University is hereby transferred
to and vested in the |
| |||||||
| |||||||
1 | Board of
Trustees of Governors State University to be held for | ||||||
2 | the People of the
State of Illinois for such University.
| ||||||
3 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
4 | Section 35. The Illinois State University Law is amended by | ||||||
5 | changing Section 20-35 as follows:
| ||||||
6 | (110 ILCS 675/20-35)
| ||||||
7 | Sec. 20-35.
Transfer of powers, duties, assets; | ||||||
8 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
9 | powers and duties vested by law in the
Board of Regents and | ||||||
10 | relating to the operation,
management, control and
maintenance | ||||||
11 | of Illinois State University are hereby transferred to and
| ||||||
12 | vested in the Board of Trustees of Illinois State University.
| ||||||
13 | All books, records,
papers, documents and pending business | ||||||
14 | in any way pertaining to Illinois State
University and held by | ||||||
15 | the Board of Regents are hereby transferred from the
Board of | ||||||
16 | Regents to the Board of
Trustees of Illinois State University.
| ||||||
17 | The employment of the president and all other academic and | ||||||
18 | nonacademic
personnel of Illinois State University is hereby | ||||||
19 | transferred from the
Board of Regents to the Board of Trustees
| ||||||
20 | of Illinois State University,
but the status and rights of all | ||||||
21 | personnel whose employment is so
transferred under the State | ||||||
22 | Universities Civil Service System, under the
State | ||||||
23 | Universities Retirement System and under any other contract or
| ||||||
24 | benefit plan shall be unaffected thereby.
|
| |||||||
| |||||||
1 | No rule or regulation promulgated by the Board of Regents | ||||||
2 | prior to the
effective date of this Article
pursuant to an | ||||||
3 | exercise of any right, power, duty, responsibility or matter
of | ||||||
4 | pending business transferred from the Board of Regents to the | ||||||
5 | Board of
Trustees of Illinois State University under the | ||||||
6 | provisions of this
Article shall be affected thereby, and all | ||||||
7 | such rules and
regulations shall become the rules and | ||||||
8 | regulations of the Board of Trustees
of Illinois State | ||||||
9 | University.
| ||||||
10 | All items of income heretofore received by Illinois State | ||||||
11 | University
and paid into the State Treasury and covered into | ||||||
12 | the Board of Regents
Income Fund and not heretofore | ||||||
13 | appropriated by the General Assembly for the
support and | ||||||
14 | improvement of Illinois State University under the
provisions | ||||||
15 | of paragraph (1) of Section 6a-4 of the State Finance Act
shall | ||||||
16 | be transferred by the
State Treasurer and covered into the | ||||||
17 | Illinois State University Income
Fund for appropriations from | ||||||
18 | time to time to be made by the General
Assembly payable from | ||||||
19 | such fund for the support and improvement of Illinois
State | ||||||
20 | University as provided in paragraph (1) of Section 6a-1b of | ||||||
21 | that Act ;
provided that within 10 days after the effective date | ||||||
22 | of this amendatory
Act of 1996, all moneys then remaining in | ||||||
23 | the Illinois State University Income
Fund
heretofore | ||||||
24 | established as a special fund in the State Treasury shall be | ||||||
25 | repaid
to the University to be deposited and credited to the | ||||||
26 | University Income Fund
established by Illinois State |
| |||||||
| |||||||
1 | University in its own treasury as provided in
paragraph (1) of | ||||||
2 | Section 6a-1b of the State Finance Act .
| ||||||
3 | The right of custody, possession and control over all items | ||||||
4 | of income, funds
or deposits in any
way pertaining to Illinois | ||||||
5 | State University, which on the effective date
of this Article | ||||||
6 | are held or retained by, or under the
jurisdiction of the Board | ||||||
7 | of Regents under
the authority of paragraph (2) of Section 6a-4 | ||||||
8 | of the State Finance Act,
is hereby transferred to and vested | ||||||
9 | in the Board of
Trustees of Illinois State University to be | ||||||
10 | retained by the University
in its own treasury, or deposited | ||||||
11 | with a bank or savings and loan
association, all in accordance | ||||||
12 | with the provisions of paragraphs (2) and
(6) of Section 6a-1b | ||||||
13 | of that Act.
| ||||||
14 | There is hereby transferred from the Board of Regents to | ||||||
15 | the Board of
Trustees of Illinois State University the power of | ||||||
16 | order and direction
over the disbursement of those funds which | ||||||
17 | immediately prior to the
effective date of this Article were | ||||||
18 | retained by Illinois State University in
its own treasury under | ||||||
19 | the authority of paragraph (3) of
Section 6a-4 of the State | ||||||
20 | Finance Act;
provided that such funds shall be disbursed from | ||||||
21 | time to time
pursuant to the order and direction of the Board | ||||||
22 | of Trustees in accordance
with any contracts, pledges, trusts | ||||||
23 | or agreements heretofore made with
respect to the use or | ||||||
24 | application of such funds by the
Teachers College Board, the | ||||||
25 | Board of Governors of State Colleges and
Universities or the | ||||||
26 | Board of Regents.
|
| |||||||
| |||||||
1 | Illinois State University shall succeed to, assume and | ||||||
2 | exercise all rights,
powers, duties and responsibilities | ||||||
3 | formerly exercised by the Board of Regents
on behalf of | ||||||
4 | Illinois State
University prior to the effective date of this | ||||||
5 | Article. All contracts and
agreements entered into by the Board | ||||||
6 | of Regents on behalf of Illinois State
University prior to the | ||||||
7 | effective date
of this Article shall be valid and shall subsist | ||||||
8 | notwithstanding the abolition
of the Board of Regents and the | ||||||
9 | repeal of
the Regency Universities Act and notwithstanding the | ||||||
10 | transfer or the functions
of the Board of Regents with respect | ||||||
11 | to Illinois State University to the Board
of Trustees of | ||||||
12 | Illinois State University.
All bonds, notes, and other | ||||||
13 | evidences of indebtedness outstanding on the
effective date of | ||||||
14 | this Article issued by the Teachers College Board, Board of
| ||||||
15 | Governors of State Colleges and Universities or the
Board of | ||||||
16 | Regents on behalf of Illinois State University shall become the | ||||||
17 | bonds,
notes or other evidences of
indebtedness of Illinois | ||||||
18 | State University and shall be otherwise unaffected by
the | ||||||
19 | transfer of functions to Illinois State University. Any action, | ||||||
20 | including
without limitation, approvals of applications for | ||||||
21 | bonds and resolutions
constituting official action under the | ||||||
22 | Internal Revenue Code by the Teachers
College Board, Board of | ||||||
23 | Governors of State Colleges and Universities or Board
of | ||||||
24 | Regents prior to
the effective date of this Article shall | ||||||
25 | remain effective to the same extent as
if that action had been | ||||||
26 | taken by Illinois State University and shall be deemed
to be |
| |||||||
| |||||||
1 | action taken by Illinois State University.
| ||||||
2 | The title to all other property, whether real, personal or | ||||||
3 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
4 | Regents for Illinois
State University is hereby transferred to | ||||||
5 | and vested in the Board of
Trustees of Illinois State | ||||||
6 | University to be held for the People of the
State of Illinois | ||||||
7 | for such University.
| ||||||
8 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
9 | Section 40. The Northeastern Illinois University Law is | ||||||
10 | amended by changing Section 25-35 as follows:
| ||||||
11 | (110 ILCS 680/25-35)
| ||||||
12 | Sec. 25-35.
Transfer of powers, duties, assets; | ||||||
13 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
14 | powers and duties vested by law in the
Board of Governors of | ||||||
15 | State Colleges and Universities and relating to the
operation, | ||||||
16 | management, control and maintenance of Northeastern Illinois
| ||||||
17 | University are hereby transferred to and vested in the Board of | ||||||
18 | Trustees of
Northeastern Illinois University.
| ||||||
19 | All books, records, papers, documents and pending business | ||||||
20 | in any way
pertaining to Northeastern Illinois University and | ||||||
21 | held by the Board of
Governors of State Colleges and | ||||||
22 | Universities are hereby transferred from the
Board of Governors | ||||||
23 | of State Colleges and Universities to the Board of
Trustees of | ||||||
24 | Northeastern Illinois University.
|
| |||||||
| |||||||
1 | The employment of the president and all other academic and | ||||||
2 | nonacademic
personnel of Northeastern Illinois University is | ||||||
3 | hereby transferred from the
Board of Governors of State | ||||||
4 | Colleges and Universities to the Board of Trustees
of | ||||||
5 | Northeastern Illinois University,
but the status and rights of | ||||||
6 | all personnel whose employment is so
transferred under the | ||||||
7 | State Universities Civil Service System, under the
State | ||||||
8 | Universities Retirement System and under any other contract or
| ||||||
9 | benefit plan shall be unaffected thereby.
| ||||||
10 | No rule or regulation promulgated by the Board of Governors | ||||||
11 | of State Colleges
and Universities prior to the effective date | ||||||
12 | of this Article
pursuant to an exercise of any right, power, | ||||||
13 | duty, responsibility or matter
of pending business transferred | ||||||
14 | from the Board of Governors of State Colleges
and Universities | ||||||
15 | to the Board of
Trustees of Northeastern Illinois University | ||||||
16 | under the provisions of this
Article shall be affected thereby, | ||||||
17 | and all such rules and
regulations shall become the rules and | ||||||
18 | regulations of the Board of Trustees
of Northeastern Illinois | ||||||
19 | University.
| ||||||
20 | All items of income heretofore received by Northeastern | ||||||
21 | Illinois University
and paid into the State Treasury and | ||||||
22 | covered into the Board of Governors of
State Colleges and | ||||||
23 | Universities Income Fund and not heretofore appropriated by
the | ||||||
24 | General Assembly for the support and improvement of | ||||||
25 | Northeastern Illinois
University under the provisions of | ||||||
26 | paragraph (1) of Section 6a of the State
Finance Act shall be |
| |||||||
| |||||||
1 | transferred by the State Treasurer and covered into the
| ||||||
2 | Northeastern Illinois University Income Fund for | ||||||
3 | appropriations from time to
time to be made by the General | ||||||
4 | Assembly payable from such fund for the support
and improvement | ||||||
5 | of Northeastern Illinois University as provided in paragraph
| ||||||
6 | (1) of Section 6a-1f of that Act ; provided that within 10 days | ||||||
7 | after the
effective date of this amendatory
Act of 1996, all | ||||||
8 | moneys then remaining in the Northeastern Illinois University
| ||||||
9 | Income Fund
heretofore established as a special fund in the | ||||||
10 | State Treasury shall be repaid
to the University to be | ||||||
11 | deposited and credited to the University Income Fund
| ||||||
12 | established by Northeastern Illinois University in its own | ||||||
13 | treasury as
provided in paragraph (1) of Section 6a-1f of the | ||||||
14 | State Finance Act .
| ||||||
15 | The right of custody, possession and control over all items | ||||||
16 | of income, funds
or deposits in any way pertaining to | ||||||
17 | Northeastern Illinois University, which on
the effective date | ||||||
18 | of this Article are held or retained by, or under the
| ||||||
19 | jurisdiction of the Board of Governors of State Colleges and | ||||||
20 | Universities under
the authority of paragraph (2) of Section 6a | ||||||
21 | of the State Finance Act, is
hereby transferred to and vested | ||||||
22 | in the Board of
Trustees of Northeastern Illinois University to | ||||||
23 | be retained by the University
in its own treasury, or deposited | ||||||
24 | with a bank or savings and loan
association, all in accordance | ||||||
25 | with the provisions of paragraphs (2) and
(6) of Section 6a-1f | ||||||
26 | of that Act.
|
| |||||||
| |||||||
1 | There is hereby transferred from the Board of Governors of | ||||||
2 | State Colleges and
Universities to the Board of
Trustees of | ||||||
3 | Northeastern Illinois University the power of order and | ||||||
4 | direction
over the disbursement of those funds which | ||||||
5 | immediately prior to the
effective date of this Article were | ||||||
6 | retained by Northeastern Illinois
University in its own | ||||||
7 | treasury under the authority of Section 6a-2 of the State
| ||||||
8 | Finance Act; provided that such funds shall be disbursed from | ||||||
9 | time to time
pursuant to the order and direction of the Board | ||||||
10 | of Trustees in accordance
with any contracts, pledges, trusts | ||||||
11 | or agreements heretofore made with
respect to the use or | ||||||
12 | application of such funds by the
Teachers College Board or the | ||||||
13 | Board of Governors of State Colleges and
Universities.
| ||||||
14 | Northeastern Illinois University shall succeed to, assume | ||||||
15 | and exercise all
rights, powers, duties and responsibilities | ||||||
16 | formerly exercised by the Board of
Governors of State Colleges | ||||||
17 | and Universities on behalf of Northeastern Illinois
University | ||||||
18 | prior to the effective date of this Article. All contracts and
| ||||||
19 | agreements entered into by the Board of Governors of State | ||||||
20 | Colleges and
Universities on behalf of Northeastern Illinois | ||||||
21 | University prior to the
effective date of this Article shall be | ||||||
22 | valid and shall subsist notwithstanding
the abolition of the | ||||||
23 | Board of Governors of State Colleges and Universities and
the | ||||||
24 | repeal of the Board of Governors Act and notwithstanding the | ||||||
25 | transfer or
the functions of the Board of Governors of State | ||||||
26 | Colleges and Universities with
respect to Northeastern |
| |||||||
| |||||||
1 | Illinois University to the Board of Trustees of
Northeastern | ||||||
2 | Illinois University. All bonds, notes, and other evidences of
| ||||||
3 | indebtedness outstanding on the effective date of this Article | ||||||
4 | issued by the
Teachers College Board or the Board of Governors | ||||||
5 | of State Colleges and
Universities on behalf of Northeastern | ||||||
6 | Illinois University shall become the
bonds, notes or other | ||||||
7 | evidences of indebtedness of Northeastern Illinois
University | ||||||
8 | and shall be otherwise unaffected by
the transfer of functions | ||||||
9 | to Northeastern Illinois University. Any action,
including | ||||||
10 | without limitation, approvals of applications for bonds and
| ||||||
11 | resolutions constituting official action under the Internal | ||||||
12 | Revenue Code by the
Teachers College Board or Board of | ||||||
13 | Governors of State Colleges and Universities
prior to the | ||||||
14 | effective date of this Article shall remain effective to the | ||||||
15 | same
extent as if that action had been taken by Northeastern | ||||||
16 | Illinois University and
shall be deemed to be action taken by | ||||||
17 | Northeastern Illinois University.
| ||||||
18 | The title to all other property, whether real, personal or | ||||||
19 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
20 | Governors of State
Colleges and Universities for Northeastern | ||||||
21 | Illinois University is hereby
transferred to and vested in the | ||||||
22 | Board of Trustees of Northeastern Illinois
University to be | ||||||
23 | held for the People of the
State of Illinois for such | ||||||
24 | University.
| ||||||
25 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
|
| |||||||
| |||||||
1 | Section 45. The Northern Illinois University Law is amended | ||||||
2 | by changing Section 30-35 as follows:
| ||||||
3 | (110 ILCS 685/30-35)
| ||||||
4 | Sec. 30-35.
Transfer of powers, duties, assets; | ||||||
5 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
6 | powers and duties vested by law in the
Board of Regents and | ||||||
7 | relating to the operation, management, control and
maintenance | ||||||
8 | of Northern Illinois University are hereby transferred to and
| ||||||
9 | vested in the Board of Trustees of Northern Illinois | ||||||
10 | University.
| ||||||
11 | All books, records,
papers, documents and pending business | ||||||
12 | in any way pertaining to Northern
Illinois
University and held | ||||||
13 | by the Board of Regents are hereby transferred from the
Board | ||||||
14 | of Regents to the Board of
Trustees of Northern Illinois | ||||||
15 | University.
| ||||||
16 | The employment of the president and all other academic and | ||||||
17 | nonacademic
personnel of Northern Illinois University is | ||||||
18 | hereby transferred from the
Board of Regents to the Board of | ||||||
19 | Trustees of Northern Illinois University,
but the status and | ||||||
20 | rights of all personnel whose employment is so
transferred | ||||||
21 | under the State Universities Civil Service System, under the
| ||||||
22 | State Universities Retirement System and under any other | ||||||
23 | contract or
benefit plan shall be unaffected thereby.
| ||||||
24 | No rule or regulation promulgated by the Board of Regents | ||||||
25 | prior to the
effective date of this Article
pursuant to an |
| |||||||
| |||||||
1 | exercise of any right, power, duty, responsibility or matter
of | ||||||
2 | pending business transferred from the Board of Regents to the | ||||||
3 | Board of
Trustees of Northern Illinois University under the | ||||||
4 | provisions of this
Article shall be affected thereby, and all | ||||||
5 | such rules and
regulations shall become the rules and | ||||||
6 | regulations of the Board of Trustees
of Northern Illinois | ||||||
7 | University.
| ||||||
8 | All items of income heretofore received by Northern | ||||||
9 | Illinois University
and paid into the State Treasury and | ||||||
10 | covered into the Board of Regents
Income Fund and not | ||||||
11 | heretofore appropriated by the General Assembly for the
support | ||||||
12 | and improvement of Northern Illinois University under the
| ||||||
13 | provisions of paragraph (1) of Section 6a-4 of the State | ||||||
14 | Finance Act
shall be transferred by the
State Treasurer and | ||||||
15 | covered into the Northern Illinois University Income
Fund for | ||||||
16 | appropriations from time to time to be made by the General
| ||||||
17 | Assembly payable from such fund for the support and improvement | ||||||
18 | of Northern
Illinois University as provided in paragraph (1) of | ||||||
19 | Section 6a-1a of that
Act ; provided that within 10 days after | ||||||
20 | the effective date of this amendatory
Act of 1996, all moneys | ||||||
21 | then remaining in the Northern Illinois University
Income Fund
| ||||||
22 | heretofore established as a special fund in the State Treasury | ||||||
23 | shall be repaid
to the University to be deposited and credited | ||||||
24 | to the University Income Fund
established by Northern Illinois | ||||||
25 | University in its own treasury as provided
in paragraph (1) of | ||||||
26 | Section 6a-1a of the State Finance Act .
|
| |||||||
| |||||||
1 | The right of custody, possession and control over all items | ||||||
2 | of income, funds
or deposits in any
way pertaining to Northern | ||||||
3 | Illinois University, which on the effective date
of this | ||||||
4 | Article are held or retained by, or under the
jurisdiction of | ||||||
5 | the Board of Regents under the authority of paragraph (2)
of | ||||||
6 | Section 6a-4 of the State Finance Act,
is hereby transferred to | ||||||
7 | and vested in the Board of
Trustees of Northern Illinois | ||||||
8 | University to be retained by the University
in its own | ||||||
9 | treasury, or deposited with a bank or savings and loan
| ||||||
10 | association, all in accordance with the provisions of | ||||||
11 | paragraphs (2) and
(6) of Section 6a-1a of that Act.
| ||||||
12 | There is hereby transferred from the Board of Regents to | ||||||
13 | the Board of
Trustees of Northern Illinois University the power | ||||||
14 | of order and direction
over the disbursement of those funds | ||||||
15 | which immediately prior to the
effective date of this Article | ||||||
16 | were retained by Northern
Illinois University in its own | ||||||
17 | treasury under the authority of paragraph
(3) of Section 6a-4 | ||||||
18 | of the State Finance Act;
provided that such funds shall be | ||||||
19 | disbursed from time to time
pursuant to the order and direction | ||||||
20 | of the Board of Trustees in accordance
with any contracts, | ||||||
21 | pledges, trusts or agreements heretofore made with
respect to | ||||||
22 | the use or application of such funds by the
Teachers College | ||||||
23 | Board, the Board of Governors of State Colleges and
| ||||||
24 | Universities or the Board of Regents.
| ||||||
25 | Northern Illinois University shall succeed to, assume and | ||||||
26 | exercise all rights,
powers, duties and responsibilities |
| |||||||
| |||||||
1 | formerly exercised by the Board of Regents
on behalf of | ||||||
2 | Northern
Illinois University prior to the effective date of | ||||||
3 | this Article. All contracts
and agreements entered into by the | ||||||
4 | Board of Regents on behalf of Northern
Illinois University | ||||||
5 | prior to the effective date of this Article shall be valid
and | ||||||
6 | shall subsist notwithstanding the abolition of the Board of | ||||||
7 | Regents and the
repeal of the Regency Universities Act and | ||||||
8 | notwithstanding the transfer of the
functions of the Board of | ||||||
9 | Regents with respect to Northern Illinois University
to the | ||||||
10 | Board of Trustees of Northern Illinois University. All bonds, | ||||||
11 | notes,
and other evidences of indebtedness outstanding on the | ||||||
12 | effective date of this
Article issued by the Teachers College | ||||||
13 | Board, the Board of Governors of State
Colleges and | ||||||
14 | Universities or the Board of Regents on behalf of Northern
| ||||||
15 | Illinois University shall become the bonds, notes or other | ||||||
16 | evidences of
indebtedness of Northern Illinois University and | ||||||
17 | shall be otherwise unaffected
by the transfer of functions to | ||||||
18 | Northern Illinois University. Any action,
including without | ||||||
19 | limitation, approvals of applications for bonds and
| ||||||
20 | resolutions constituting official action under the Internal | ||||||
21 | Revenue Code by the
Teachers College Board, Board of Governors | ||||||
22 | of State Colleges and Universities
or Board of Regents prior to | ||||||
23 | the effective date of this Article shall remain
effective to | ||||||
24 | the same extent as if that action had been taken by Northern
| ||||||
25 | Illinois University and shall be deemed to be action taken by | ||||||
26 | Northern Illinois
University.
|
| |||||||
| |||||||
1 | The title to all other property, whether real, personal or | ||||||
2 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
3 | Regents for Northern
Illinois University is hereby transferred | ||||||
4 | to and vested in the Board of
Trustees of Northern Illinois | ||||||
5 | University to be held for the People of the
State of Illinois | ||||||
6 | for such University.
| ||||||
7 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
8 | Section 50. The Western Illinois University Law is amended | ||||||
9 | by changing Section 35-35 as follows:
| ||||||
10 | (110 ILCS 690/35-35)
| ||||||
11 | Sec. 35-35.
Transfer of powers, duties, assets; | ||||||
12 | outstanding contracts,
agreements and bonds. All the rights, | ||||||
13 | powers and duties vested by law in the
Board of Governors of | ||||||
14 | State Colleges and Universities and relating to the
operation, | ||||||
15 | management, control and
maintenance of Western Illinois | ||||||
16 | University are hereby transferred to and
vested in the Board of | ||||||
17 | Trustees of Western Illinois University.
| ||||||
18 | All books, records,
papers, documents and pending business | ||||||
19 | in any way pertaining to Western
Illinois University and held | ||||||
20 | by the Board of Governors of State Colleges and
Universities | ||||||
21 | are hereby transferred from the Board of Governors of State
| ||||||
22 | Colleges and Universities to the Board of
Trustees of Western | ||||||
23 | Illinois University.
| ||||||
24 | The employment of the president and all other academic and |
| |||||||
| |||||||
1 | nonacademic
personnel of Western Illinois University is hereby | ||||||
2 | transferred from the
Board of Governors of State Colleges and | ||||||
3 | Universities to the Board of Trustees
of Western Illinois | ||||||
4 | University,
but the status and rights of all personnel whose | ||||||
5 | employment is so
transferred under the State Universities Civil | ||||||
6 | Service System, under the
State Universities Retirement System | ||||||
7 | and under any other contract or
benefit plan shall be | ||||||
8 | unaffected thereby.
| ||||||
9 | No rule or regulation promulgated by the Board of Governors | ||||||
10 | of State Colleges
and Universities prior to the effective date | ||||||
11 | of this Article
pursuant to an exercise of any right, power, | ||||||
12 | duty, responsibility or matter
of pending business transferred | ||||||
13 | from the Board of Governors of State Colleges
and Universities | ||||||
14 | to the Board of
Trustees of Western Illinois University under | ||||||
15 | the provisions of this
Article shall be affected thereby, and | ||||||
16 | all such rules and
regulations shall become the rules and | ||||||
17 | regulations of the Board of Trustees
of Western Illinois | ||||||
18 | University.
| ||||||
19 | All items of income heretofore received by Western Illinois | ||||||
20 | University
and paid into the State Treasury and covered into | ||||||
21 | the Board of Governors of
State Colleges and Universities
| ||||||
22 | Income Fund and not heretofore appropriated by the General | ||||||
23 | Assembly for the
support and improvement of Western Illinois | ||||||
24 | University under the
provisions of paragraph (1) of Section 6a | ||||||
25 | of the State Finance Act
shall be transferred by the
State | ||||||
26 | Treasurer and covered into the Western Illinois University |
| |||||||
| |||||||
1 | Income
Fund for appropriations from time to time to be made by | ||||||
2 | the General
Assembly payable from such fund for the support and | ||||||
3 | improvement of Western
Illinois University as provided in | ||||||
4 | paragraph (1) of Section 6a-1g of that
Act ; provided that | ||||||
5 | within 10 days after the effective date of this amendatory
Act | ||||||
6 | of 1996, all moneys then remaining in the Western Illinois | ||||||
7 | University
Income Fund
heretofore established as a special fund | ||||||
8 | in the State Treasury shall be repaid
to the University to be | ||||||
9 | deposited and credited to the University Income Fund
| ||||||
10 | established by Western Illinois University in its own treasury | ||||||
11 | as provided
in paragraph (1) of Section 6a-1g of the State | ||||||
12 | Finance Act .
| ||||||
13 | The right of custody, possession and control over all items | ||||||
14 | of income, funds
or deposits in any
way pertaining to Western | ||||||
15 | Illinois University, which on the effective date
of this | ||||||
16 | Article are held or retained by, or under the
jurisdiction of | ||||||
17 | the Board of Governors of State Colleges and Universities under
| ||||||
18 | the authority of paragraph (2)
of Section 6a of the State | ||||||
19 | Finance Act,
is hereby transferred to and vested in the Board | ||||||
20 | of
Trustees of Western Illinois University to be retained by | ||||||
21 | the University
in its own treasury, or deposited with a bank or | ||||||
22 | savings and loan
association, all in accordance with the | ||||||
23 | provisions of paragraphs (2) and
(6) of Section 6a-1g of that | ||||||
24 | Act.
| ||||||
25 | There is hereby transferred from the Board of Governors of | ||||||
26 | State Colleges and
Universities to the Board of
Trustees of |
| |||||||
| |||||||
1 | Western Illinois University the power of order and direction
| ||||||
2 | over the disbursement of those funds which immediately prior to | ||||||
3 | the
effective date of this Article were retained by Western | ||||||
4 | Illinois University in
its own treasury under the authority of | ||||||
5 | Section 6a-2 of the State Finance Act;
provided that such funds | ||||||
6 | shall be disbursed from time to time
pursuant to the order and | ||||||
7 | direction of the Board of Trustees in accordance
with any | ||||||
8 | contracts, pledges, trusts or agreements heretofore made with
| ||||||
9 | respect to the use or application of such funds by the
Teachers | ||||||
10 | College Board or the Board of Governors of State Colleges and
| ||||||
11 | Universities.
| ||||||
12 | Western Illinois University shall succeed to, assume and | ||||||
13 | exercise all rights,
powers, duties and responsibilities | ||||||
14 | formerly exercised by the Board of
Governors of State Colleges | ||||||
15 | and Universities on behalf of Western Illinois
University prior | ||||||
16 | to the effective date of this Article. All contracts and
| ||||||
17 | agreements entered into by the Board of Governors of State | ||||||
18 | Colleges and
Universities on behalf of Western Illinois | ||||||
19 | University prior to the effective
date
of this Article shall be | ||||||
20 | valid and shall subsist notwithstanding the abolition
of the | ||||||
21 | Board of Governors of State Colleges and Universities and the | ||||||
22 | repeal of
the Board of Governors Act and notwithstanding the | ||||||
23 | transfer or the functions of
the Board of Governors of State | ||||||
24 | Colleges and Universities with respect to
Western Illinois | ||||||
25 | University to the Board of Trustees of Western Illinois
| ||||||
26 | University.
All bonds, notes, and other evidences of |
| |||||||
| |||||||
1 | indebtedness outstanding on the
effective date of this Article | ||||||
2 | issued by the Teachers College Board or the
Board of Governors | ||||||
3 | of State Colleges and Universities on behalf of Western
| ||||||
4 | Illinois University shall become the bonds, notes or other | ||||||
5 | evidences of
indebtedness of Western Illinois University and | ||||||
6 | shall be otherwise unaffected
by the transfer of functions to | ||||||
7 | Western Illinois University. Any action,
including
without | ||||||
8 | limitation, approvals of applications for bonds and | ||||||
9 | resolutions
constituting official action under the Internal | ||||||
10 | Revenue Code by the Teachers
College Board or Board of | ||||||
11 | Governors of State Colleges and Universities prior to
the | ||||||
12 | effective date of this Article shall remain effective to the | ||||||
13 | same extent as
if that action had been taken by Western | ||||||
14 | Illinois University and shall be
deemed to be action taken by | ||||||
15 | Western Illinois University.
| ||||||
16 | The title to all other property, whether real, personal or | ||||||
17 | mixed,
belonging to or under the jurisdiction of the Board of | ||||||
18 | Governors of State
Colleges and Universities for Western | ||||||
19 | Illinois University is hereby transferred
to and vested in the | ||||||
20 | Board of
Trustees of Western Illinois University to be held for | ||||||
21 | the People of the
State of Illinois for such University.
| ||||||
22 | (Source: P.A. 89-4, eff. 1-1-96; 89-602, eff. 8-2-96.)
| ||||||
23 | Section 99. Effective date. This Act takes effect July 1, | ||||||
24 | 2011.".
|