|
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB1857
Introduced 2/20/2009, by Sen. Jeffrey M. Schoenberg SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Illinois Finance Authority Act. Increases the general bonding authority by $3,000,000,000. Effective immediately.
|
| |
|
|
| FISCAL NOTE ACT MAY APPLY | |
STATE DEBT IMPACT NOTE ACT MAY APPLY |
|
|
|
A BILL FOR
|
|
|
|
|
SB1857 |
|
LRB096 09980 RCE 20144 b |
|
|
| 1 |
| AN ACT concerning debt.
|
| 2 |
| Be it enacted by the People of the State of Illinois,
|
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Finance Authority Act is amended by |
| 5 |
| changing Section 845-5 as follows:
|
| 6 |
| (20 ILCS 3501/845-5)
|
| 7 |
| Sec. 845-5. Bond limitations.
|
| 8 |
| (a) The Authority may not have outstanding at any one time |
| 9 |
| bonds
for any of its corporate purposes in an aggregate |
| 10 |
| principal amount exceeding $31,150,000,000 $28,150,000,000, |
| 11 |
| excluding bonds issued to refund the bonds of the Authority or
|
| 12 |
| bonds of the Predecessor Authorities. |
| 13 |
| (b) The Authority may not have outstanding at any one time |
| 14 |
| revenue bonds in an aggregate principal amount exceeding |
| 15 |
| $4,000,000,000 on behalf of the Illinois Power Agency as set |
| 16 |
| forth in Section 825-90. Any such revenue bonds issued on |
| 17 |
| behalf of the Illinois Power Agency pursuant to this Act shall |
| 18 |
| not be counted against the bond authorization limit set forth |
| 19 |
| in subsection (a).
|
| 20 |
| (Source: P.A. 94-1068, eff. 8-1-06; 95-481, eff. 8-28-07; |
| 21 |
| 95-697, eff. 11-6-07; 95-876, eff. 8-21-08; 95-879, eff. |
| 22 |
| 8-21-08.)
|