Bill Text: IL SB2978 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois. Makes a technical change in a Section concerning the short title.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [SB2978 Detail]
Download: Illinois-2011-SB2978-Amended.html
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| 1 | AMENDMENT TO SENATE BILL 2978
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 2978 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Local Government Debt Reform Act is amended | ||||||
| 5 | by adding Section 10.5 as follows:
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| 6 | (30 ILCS 350/10.5 new) | ||||||
| 7 | Sec. 10.5. Sale of bonds. Notwithstanding the provisions of | ||||||
| 8 | Section 4 of this Act or any other law to the contrary, bonds | ||||||
| 9 | sold by a governmental unit shall be sold pursuant to notice of | ||||||
| 10 | sale and public bid. This Section is a limitation on the | ||||||
| 11 | concurrent exercise of home rule powers, pursuant to subsection | ||||||
| 12 | (i) of Section 6 of Article VII of the Illinois Constitution.
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| 13 | Section 99. Effective date. This Act takes effect upon | ||||||
| 14 | becoming law.".
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