Bill Text: IL SB3200 | 2017-2018 | 100th General Assembly | Introduced

---

Bill Title: Amends the Regional Transportation Authority Act. Makes a technical change in a Section concerning the general powers of the Commuter Rail Board.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB3200 Detail]

Download: Illinois-2017-SB3200-Introduced.html

---

100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 SB3200 Introduced 2/15/2018, by Sen. Martin A. Sandoval SYNOPSIS AS INTRODUCED:
70 ILCS 3615/3B.09 from Ch. 111 2/3, par. 703B.09
Amends the Regional Transportation Authority Act. Makes a technical change in a Section concerning the general powers of the Commuter Rail Board.
LRB100 19177 AWJ 34442 b
A BILL FOR
SB3200 LRB100 19177 AWJ 34442 b
AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Regional Transportation Authority Act is
amended by changing Section 3B.09 as follows:
(70 ILCS 3615/3B.09) (from Ch. 111 2/3, par. 703B.09)
Sec. 3B.09. General Powers. In addition to any powers
elsewhere provided to the the Commuter Rail Board, it shall
have all of the powers specified in Section 2.20 of this Act
except for the powers specified in Section 2.20(a)(v). The
Board shall also have the power:
(a) to cooperate with the Regional Transportation
Authority in the exercise by the Regional Transportation
Authority of all the powers granted it by such Act;
(b) to receive funds from the Regional Transportation
Authority pursuant to Sections 2.02, 4.01, 4.02, 4.09 and 4.10
of the "Regional Transportation Authority Act", all as provided
in the "Regional Transportation Authority Act";
(c) to receive financial grants from the Regional
Transportation Authority or a Service Board, as defined in the
"Regional Transportation Authority Act", upon such terms and
conditions as shall be set forth in a grant contract between
either the Division and the Regional Transportation Authority

SB3200 - 2 - LRB100 19177 AWJ 34442 b
or the Division and another Service Board, which contract or
agreement may be for such number of years or duration as the
parties may agree, all as provided in the "Regional
Transportation Authority Act"; and
(d) to borrow money for the purpose of acquiring,
constructing, reconstructing, extending, or improving any
Public Transportation Facilities (as defined in Section 1.03 of
the Regional Transportation Authority Act) operated by or to be
operated by or on behalf of the Commuter Rail Division. For the
purpose of evidencing the obligation of the Commuter Rail Board
to repay any money borrowed as provided in this subsection, the
Commuter Rail Board may issue revenue bonds from time to time
pursuant to ordinance adopted by the Commuter Rail Board,
subject to the approval of the Regional Transportation
Authority of each such issuance by the affirmative vote of 12
of its then Directors; provided that the Commuter Rail Board
may not issue bonds for the purpose of financing the
acquisition, construction, or improvement of a corporate
headquarters building. All such bonds shall be payable solely
from the revenues or income or any other funds that the
Commuter Rail Board may receive, provided that the Commuter
Rail Board may not pledge as security for such bonds the
moneys, if any, that the Commuter Rail Board receives from the
Regional Transportation Authority pursuant to Section
4.03.3(f) of the Regional Transportation Authority Act. The
bonds shall bear interest at a rate not to exceed the maximum

SB3200 - 3 - LRB100 19177 AWJ 34442 b
rate authorized by the Bond Authorization Act and shall mature
at such time or times not exceeding 25 years from their
respective dates. Bonds issued pursuant to this paragraph must
be issued with scheduled principal or mandatory redemption
payments in equal amounts in each fiscal year over the term of
the bonds, with the first principal or mandatory redemption
payment scheduled within the fiscal year in which bonds are
issued or within the next succeeding fiscal year. At least 25%,
based on total principal amount, of all bonds authorized
pursuant to this Section shall be sold pursuant to notice of
sale and public bid. No more than 75%, based on total principal
amount, of all bonds authorized pursuant to this Section shall
be sold by negotiated sale. The maximum principal amount of the
bonds that may be issued and outstanding at any time may not
exceed $1,000,000,000. The bonds shall have all the qualities
of negotiable instruments under the laws of this State. To
secure the payment of any or all of such bonds and for the
purpose of setting forth the covenants and undertakings of the
Commuter Rail Board in connection with the issuance thereof and
the issuance of any additional bonds payable from such revenue
or income as well as the use and application of the revenue or
income received by the Commuter Rail Board, the Commuter Rail
Board may execute and deliver a trust agreement or agreements;
provided that no lien upon any physical property of the
Commuter Rail Board shall be created thereby. A remedy for any
breach or default of the terms of any such trust agreement by

SB3200 - 4 - LRB100 19177 AWJ 34442 b
the Commuter Rail Board may be by mandamus proceedings in any
court of competent jurisdiction to compel performance and
compliance therewith, but the trust agreement may prescribe by
whom or on whose behalf such action may be instituted. Under no
circumstances shall any bonds issued by the Commuter Rail Board
or any other obligation of the Commuter Rail Board in
connection with the issuance of such bonds be or become an
indebtedness or obligation of the State of Illinois, the
Regional Transportation Authority, or any other political
subdivision of or municipality within the State, nor shall any
such bonds or obligations be or become an indebtedness of the
Commuter Rail Board within the purview of any constitutional
limitation or provision, and it shall be plainly stated on the
face of each bond that it does not constitute such an
indebtedness or obligation but is payable solely from the
revenues or income as aforesaid.
(Source: P.A. 95-708, eff. 1-18-08.)