Senate Sponsors: DUDYCZ. House Sponsors: TURNER,ART Short description: CHICAGO PARK DISTRICT-BONDS Synopsis of Bill as introduced: Amends the Park District Code. Provides that the Chicago Park District has the enumerated powers contained in the Code to the extent that the powers do not conflict with the Chicago Park District Act. Amends the Chicago Park District Act. Provides that the commissioners of the District are subject to the Public Officer Prohibited Activities Act. Changes the name of the Superintendent of Employment to the Director of Human Resources. Provides that the District may sell or lease real estate if the board determines the transfer to be in the best interests of the District. Authorizes the District to borrow money by issuing bonds in anticipation of revenue from revenue producing recreational facilities. Provides that the bonds may be issued for the purpose of improvements for recreational facilities and that the revenues must be deposited into a separate fund to pay required bond and operation costs. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 70 ILCS 1205/1-2 70 ILCS 1505/20d new Deletes everything. Amends the Chicago Park District Act. Provides that the commissioners of the District are subject to the Public Officer Prohibited Activities Act. Changes the name of the Superintendent of Employment to the Director of Human Resources. Provides that the District may sell or transfer real estate not exceeding 3 acres and may lease real estate if the board determines the transfer to be in the best interests of the District. Provides that the property tax exemption for park district property shall not be affected by any transaction in which, for the purpose of obtaining financing, a park district leases or transfers the property to another whose property is not exempt and immediately thereafter enters into a leaseback or other agreement that gives the district a right to use, control, and possess the property. Provides that the property will no longer have the exemption if the right of the park district to use, control, and possess the property has been terminated, the park district no longer has an option to purchase or otherwise acquire the property, and there is no provision for a reverter of the property to the park district within the limitations period for reverters. Provides that the district must notify the chief county assessment officer of any leaseback transaction and failure to notify the assessment officer may cause the termination of the exemption. Provides that the changes made by this amendatory Act are declarative of existing law and shall not be construed as a new enactment. Effective immediately. SENATE AMENDMENT NO. 3. Makes a technical correction to cross-references in the amendatory provision granting the Chicago Park District the power to sell or lease real property. FISCAL NOTE (Dept. of Natural Resources) SB 575 has no fiscal impact on this Department. CORRECTIONAL NOTE, H-AM 3 (Department of Corrections) This legislation would have no fiscal impact or prison impact on the Department of Corrections. PENSION NOTE, H-AM 3 (Pension Laws Commission) This legislation would not affect the accrued liabilities or annual cost of any Illinois public pension fund or retirement system. STATE DEBT NOTE, H-AM 3 (Economic and Fiscal Commission) This legislation does not increase the State's general obligation bonded indebtedness, but does increase the bonding authority of the Illinois Sports Facilities Authority by $399 million. The bonds and notes of the Authority are not general obligations of the State or the City of Chicago, or of any other political subdivision of the State other than the Authority, and are not secured by a pledge of the full faith and credit of the State or the City of Chicago. There is no bonding authority authorized in connection with the creation of the Metro East Sports Facilities Authority, so there is no increase in the State's general obligation bonded indebtedness. JUDICIAL NOTE, H-AM 3 (Administrative Office of Ill. Courts) The bill would neither decrease nor increase the number of judges needed in the State. HOUSING AFFORDABILITY NOTE, H-AM 3 (Housing Development Auth.) There will be no fiscal effect on the cost of constructing, purchasing, owning, or selling a single family residence. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status