RUTHERFORD-KOSEL-HASSERT. (PETKA-WALSH,L) 70 ILCS 508/15 70 ILCS 508/35 Amends the Joliet Arsenal Development Authority Act. Deletes the provision that provides that if the Authority determines that its moneys will not be sufficient for the principal and interest payments on its revenue bonds, the Chairman of the Authority shall certify to the Governor the amount required by the Authority and the Governor shall submit the amount to the General Assembly no later than the end of the current fiscal year. Deletes the provision that provides that the Chairman shall certify to the Governor the amount required to restore the reserve fund to the level required in the resolution or indenture securing revenue bonds if the Authority withdraws funds from the reserve funds for a principal or interest payment on revenue bonds. Increases the Board of Directors from 9 to 11 members. Provides that the 2 new members shall be appointed by the Governor from Will County, with the advice and consent of the Senate. States that the new members' terms shall commence 30 days after the effective date of this amendatory Act. Specifies the initial terms for the new members. Effective immediately. HOUSE AMENDMENT NO. 1. Adds reference to: 70 ILCS 508/10.20 70 ILCS 508/10.40 70 ILCS 508/10.45 70 ILCS 508/10.55 70 ILCS 508/15 70 ILCS 508/25 70 ILCS 508/35 Deletes everything. Amends the Joliet Arsenal Development Authority Act. Provides that the Authority (now, with written approval of the Governor) shall have the continuing power to issue revenue bonds, notes, or other evidences of indebtedness in an aggregate amount not to exceed $100,000,000 for certain purposes. Deletes the provision that provides that if the Authority determines that its moneys will not be sufficient for the principal and interest payments on its revenue bonds, the Chairman of the Authority shall certify to the Governor the amount required by the Authority and the Governor shall submit the amount to the General Assembly no later than the end of the current fiscal year. Deletes the provision that provides that the Chairman shall certify to the Governor the amount required to restore the reserve fund to the level required in the resolution or indenture securing revenue bonds if the Authority withdraws funds from the reserve funds for a principal or interest payment on revenue bonds. Provides that "project" means any industrial or commercial project (now, industrial, commercial, or service project). States that "costs incurred in connection with the development, construction, acquisition, or improvement of a project" includes interest costs with respect to revenue bonds, notes, and other evidences of indebtedness of the Authority prior to and during construction and for a period of 36 months (now, 6 months) thereafter. Provides that "lease agreement" means an agreement under which a project acquired by the authority is leased to a person or governmental agency that will use the project as a project upon terms providing for lease rental payments at least sufficient to pay when due the lessee's pro rata share of all principal of and interest and premium on any evidence of indebtedness. Provides that "loan agreement" means any agreement by which the Authority agrees to loan the proceeds of its evidences of indebtedness issued with respect to a project to any person or governmental agency that will use or cause the project to be used as a project upon terms providing for loan repayment installments at least sufficient to pay when due the borrower's pro rata share of all principal of and interest and premium on the evidences of indebtedness. Allows the Authority to borrow money and to issue revenue bonds, notes, or other evidences of indebtedness to evidence the obligation of the Authority to repay the borrowings. Requires the County Executive of Will County, with the advice and consent of the county board of Will County, to appoint 5 members to the Joliet Arsenal Development Authority (now, appointed by the county board). Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 70 ILCS 508/15 Removes the provision that requires the County Executive of Will County, with the advice and consent of the county board of Will County, to appoint 5 members to the Joliet Arsenal Development Authority (now, appointed by the county board). CONFERENCE COMMITTEE REPORT NO. 1. Recommends that the House concur in Senate Amendment No. 1. 97-03-10 H FIRST READING 97-03-10 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-11 H ASSIGNED TO COMMITTEE EXECUTIVE 97-03-20 H DO PASS/SHORT DEBATE 015-000-000 HEXC 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-03-21 H AMENDMENT NO. 01-RUTHERFORD 97-03-21 H AMENDMENT REFERRED TO HRUL 97-03-21 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-09 H AMENDMENT NO. 01-RUTHERFORD 97-04-09 H RULES REFERS TO HEXC 97-04-09 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-10 H AMENDMENT NO. 01-RUTHERFORD 97-04-10 H BE ADOPTED HEXC/014-000-000 97-04-10 H SECOND READING-SHORT DEBATE 97-04-10 H AMENDMENT NO. 01-RUTHERFORD 97-04-10 H ADOPTED 97-04-10 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-14 H THIRD READING/SHORT DEBATE/PASSED 115-000-001 97-04-15 S ARRIVE IN SENATE 97-04-15 S PLACED CALENDAR ORDER OF FIRST READING 97-04-23 97-04-18 S CHIEF SPONSOR PETKA 97-04-23 S FIRST READING 97-04-23 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-24 S ADDED AS A CHIEF CO-SPONSOR WALSH,L 97-04-30 S ASSIGNED TO COMMITTEE EXECUTIVE 97-05-08 S AMENDMENT NO. 01-EXECUTIVE S 97-05-08 S ADOPTED 97-05-08 S DO PASS AS AMENDED 008-005-000 SEXC 97-05-08 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-09 97-05-09 S SECOND READING 97-05-09 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-12 97-05-13 S THIRD READING - PASSED 054-002-001 97-05-13 H ARRIVE IN HOUSE 97-05-13 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-14 H MOTION FILED CONCUR 01/RUTHERFORD 97-05-14 H REFERRED TO RULES COMMITTEE/RULE 75(A) 01 97-05-14 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-15 H BE APPROVED FOR CONSIDERATION 01/HRUL 97-05-15 H 003-002-000 97-05-15 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 97-05-19 H MOTION FILED NON-CONCUR 01/RUTHERFORD 97-05-19 H HSE NON-CONCURS IN SEN AMENDMENTS (NO.) 01 97-05-19 S SECRETARYS DESK - NON-CONCURRENCE 01 97-05-20 S FILED WITH SECRETARY 97-05-20 S MOTION REFUSE RECEDE - SEN AMEND NO 01/PETKA 97-05-21 S SEN REFUSES TO RECEDE FROM AMENDMENT NO 01 97-05-21 S SEN REQUESTS CONFERENCE COMMITTEE 1ST/PETKA 97-05-21 S SEN CONFERENCE COMMITTEE APPOINTED 1ST/PETKA, 97-05-21 S KLEMM, KARPIEL, 97-05-21 S COLLINS, WALSH,L 97-05-22 H HSE ACCEDE REQUEST CONFERENCE COMMITTEE 1ST 97-05-22 H HSE CONFERENCE COMMITTEE APPOINTED 1ST/MCGUIRE, 97-05-22 H BURKE, HANNIG, 97-05-22 H CHURCHILL AND 97-05-22 H RUTHERFORD 97-05-31 S FILED WITH SECRETARY 97-05-31 S CONFERENCE COMMITTEE REPORT 1ST/PETKA 97-05-31 S CONFERENCE COMMITTEE REPORT REFERRED TO SRUL 97-05-31 H HSE CONFERENCE COMMITTEE REPORT SUBMITED 1ST/RUTHERFORD 97-05-31 H CONFERENCE COMMITTEE REPORT REFERRED TO 1ST/HRUL 97-05-31 H BE APPROVED FOR CONSIDERATION HRUL/003-002-000 97-05-31 S CONFERENCE COMMITTEE REPORT 1ST/PETKA 97-05-31 S BE APPROVED FOR CONSIDERATION SRUL 97-05-31 H ADDED AS A JOINT SPONSOR KOSEL 97-05-31 H ADDED AS A CO-SPONSOR HASSERT 97-05-31 S SEN CONFERENCE COMMITTEE REPORT SUBMITED 1ST/PETKA 97-05-31 S SENATE ADOPTED CONFERENCE REPORT 1ST/056-000-000 97-05-31 H HOUSE ADOPTED CONFERENCE REPORT 1ST/118-000-000 97-05-31 H BOTH HOUSES ADOPTED CONFERENCE REPORT 1ST 97-05-31 H PASSED BOTH HOUSES 97-06-27 H SENT TO THE GOVERNOR 97-07-10 H GOVERNOR APPROVED 97-07-10 H EFFECTIVE DATE 97-07-10 97-07-10 H PUBLIC ACT.............................. 90-0083 END OF INQUIRY Full Text Bill Summary