SB 688 — LOCAL GOVERNMENT-TECH

businessIf management;good and sufficient cause be not SB0688 Enrolled - 5 - LRB103 03141 AWJ 48147 b shown to excuse the officer or other person, the court shall adjudge him or her guilty of a contempt, and shall impose punishment as in other cases of contempt.

real(d) estate;Except as provided in Sections 1-19, 3-17, 4-14, and 5-252 of the Juvenile Court Act of 1987, if process is served by a sheriff, coroner, or special investigator appointed by the State's Attorney, the court may tax the fee of the sheriff, coroner, or State's Attorney's special investigator as costs in the proceeding.

communityIf development;process is served by a private person or entity, the court may establish a fee therefor and tax such fee as costs in the proceedings.

organized(e) labor;In addition to the powers stated in Section 8.1a of the Housing Authorities Act, in counties with a population of 3,000,000 or more inhabitants, members of a housing authority police force may serve process for eviction actions commenced by that housing authority and may execute eviction orders for that housing authority.

(f) In counties with a population of 3,000,000 or civic,more, community,process may be served, with special appointment by the court, by a private process server or neighborhooda organization.law enforcement agency other than the county sheriff in proceedings instituted under Article IX of this Code as a result of a lessor or lessor's assignee declaring a lease void pursuant to Section 11 of the Controlled Substance and Cannabis Nuisance Act.

(d)(Source: The terms of the 5 initial appointees to the Authority shall commence 15 days after the effective date of this Act or as soon as they are appointed.

OfP.A. the 5 appointees initially appointed:

(i)102-538, oneeff. of the Mayor's appointees and one of the Governor's appointees shall be appointed to serve terms expiring on the third Monday in January 2027;

(ii)8-20-21; one of the Mayor's appointees shall be appointed to serve a term expiring on the third Monday in January 2028;

and103-379, (iii)eff. the Board of Commissioner's appointee and one of the Governor's appointees shall be appointed to serve terms expiring on the third Monday in January 2029.

All7-28-23; successors shall be appointed by the SB0688 Engrossed - 7 - LRB103 03141 AWJ 48147 b original appointing authority and hold office for a term of 6 years commencing the third Monday in January of the year in which their term commences, except in case of an appointment to fill a vacancy.

Vacancies103-671, shalleff. be filled for the remainder of the term by the Mayor, Board of Commissioners, or Governor depending upon which person or Board made the appointment of the individual that left the Board of Commissioners.

Each1-1-25.) memberSB0688 appointedEnrolled to- the6 Board- shallLRB103 serve03141 untilAWJ his48147 orb herSection successor99. is appointed and accepted by majority vote of the members left after the vacancy occurs or the term expires and shall meet the professional background requirements under subsection (c).

(e) The Chairperson of the Board shall be elected by the Board annually from among its members.

(f) The appointing authority may remove any member of the Board in case of incompetency, neglect of duty, or malfeasance in office.

(g) Members of the Board shall serve without compensation for their services as members, but the Board may vote to compensate its members, and they also may be reimbursed for all necessary expenses incurred in connection with the performance of their duties as members.

(h) The Board may appoint an Executive Director, Associate Executive Director, General Counsel, Finance Director, and Chief Engineer who shall have a background and, when necessary, licensed credentials or certifications and or SB0688 Engrossed - 8 - LRB103 03141 AWJ 48147 b academic degrees in administration, planning, real estate, economic development, finance, or law.

The Executive Director shall hold office at the discretion of the Board, but a contract may be executed for a period of time of service as negotiated.

The Executive Director shall be the chief administrative and operational officer of the Authority, shall direct and supervise its administrative affairs and general management, shall perform such other duties as may be prescribed from time to time by the Board, and shall receive compensation fixed by the Board.

The Executive Director shall attend all meetings of the Board;

however, no action of the Board or the Authority shall be invalid on account of the absence of the Executive Director from a meeting.

The Board may engage the services of such other agents and employees, including planners, attorneys, appraisers, engineers, accountants, credit analysts, and other consultants, and may prescribe their duties and fix their compensation.

(i) The Board shall meet on the call of its Chairperson or upon written, telephonic, or email notice of 3 members of the Board.

(j) All official acts of the Authority shall require a quorum of 3 members and an affirmative vote of at least 3 of the members of the Board present and voting at a meeting of the Board.

Section 20.

Responsibilities of the Authority.

SB0688 Engrossed - 9 - LRB103 03141 AWJ 48147 b (a) It is the duty of the Authority to promote development within its territorial jurisdiction.

The Authority shall use the powers conferred on it by this Act to assist in the planning, development, acquisition, construction, and marketing of residential, industrial, commercial, or freight-oriented projects within its territorial jurisdiction.

(b) The Authority has the power to undertake joint planning for property within its territorial jurisdiction that identifies and addresses its development, transportation, transit, zoning, workforce, and environmental priorities and objectives.

(c) The Authority has the power to assemble and prepare parcels for development.

(d) The Authority has the power to oversee environmental studies and remediation necessary to identify and remove any hazards or toxins that impede development.

(e) The Authority has the power to develop, construct, and improve, either under its own direction or through collaboration with any approved applicant, or to acquire through purchase or otherwise any project, using for that purpose the proceeds derived from its sale of revenue bonds, notes, or other evidence of indebtedness or governmental loans or grants, and to hold title in the name of the Authority to those projects.

(f) The Authority has the power to market the Cairo development to prospective developers and businesses.

SB0688 Engrossed - 10 - LRB103 03141 AWJ 48147 b (g) The Authority shall make its best effort to annex parcels of unincorporated property that are subject to the jurisdiction of the Authority contiguous to the City of Cairo.

(h) The Authority shall maintain relations with local residents, industries, businesses, nonprofit organizations, elected and appointed officials, and other government and private entities as well as any other interested parties in the course of achieving its objectives and exercising its powers.

Section 25.

Powers.

The Authority possesses all powers of a body corporate necessary and convenient to accomplish the purpose of this Act, including, without limitation, the following:

(1) to enter into loans, contracts, agreements, and mortgages in any matter connected with any of its corporate purposes and to invest its funds;

(2) to sue and be sued;

(3) to employ agents and employees necessary to carry out its purposes;

(4) to have, use, and alter a common seal;

(5) to adopt all needful ordinances, resolutions, bylaws, rules, and regulations for the conduct of its business and affairs and for the management and use of the projects developed, constructed, acquired, and improved in furtherance of its purposes;

SB0688 Engrossed - 11 - LRB103 03141 AWJ 48147 b (6) to designate the fiscal year for the Authority;

(7) to accept and expend appropriations;

(8) to have and exercise all powers and be subject to all duties usually incident to boards of directors of corporations;

(9) to acquire, own, lease, sell, or otherwise dispose of interests in and to real property and improvements situated thereon and in personal property from any person, the State of Illinois, any municipal corporation, any unit of local government, the government of the United States, any agency or instrumentality of the United States, any body politic, or any county, whether the property is improved for the purposes of any prospective project or unimproved, useful, and necessary to fulfill the purposes of the Authority;

(10) to acquire title to any project with respect to which it exercises its authority;

(11) to engage in any activity or operation, including brownfield remediation, which is incidental to and in furtherance of efficient operation to accomplish the Authority's primary purpose and be reasonable and necessary for the efficient function of the authority;

(12) to acquire, own, construct, lease, operate, and maintain, within its corporate limits, terminals and terminal facilities and to fix and collect just, reasonable, and nondiscriminatory charges for the use of SB0688 Engrossed - 12 - LRB103 03141 AWJ 48147 b those facilities;

(13) to collect fees and charges in connection with its loans, commitments, and services;

(14) to use the charges and fees collected as authorized under paragraphs (12) and (13) to defray the reasonable expenses of the Authority and to pay the principal and interest of any revenue bonds issued by the Authority;

(15) to borrow money and issue revenue bonds, notes, or other evidences of indebtedness under the supervision of the Illinois Finance Authority, as set forth under Section 825-13.1 of the Illinois Finance Authority Act;

(16) to apply for and accept grants, loans, or appropriations from the federal government, the State of Illinois, including the Illinois Environmental Protection Agency, and the City of Cairo;

(17) to accept donations, contributions, capital grants or gifts from individuals, associations, and private corporations in aid of any purposes of this Act and to enter into agreements in connection therewith;

(18) to enter into intergovernmental agreements with the State of Illinois, any other state or local government of another state, the Illinois Finance Authority, the United States government, any agency or instrumentality of the United States, any unit of local government located within the territory of the Authority, or any other unit SB0688 Engrossed - 13 - LRB103 03141 AWJ 48147 b of government to the extent allowed by Section 10 of Article VII of the Illinois Constitution and the Intergovernmental Cooperation Act;

(19) to petition any federal, state, municipal, or local authority, and any unit of local government having jurisdiction in the premises for the adoption and execution of any physical improvement, change in method or system of handling freight, warehousing, docking, lightering, and transfer of freight which, in the opinion of the Authority, is designed to improve the handling of commerce in and through its territorial jurisdiction or improve terminal or transportation facilities therein;

(20) to enter into agreements with businesses, form public-private partnership entities and appropriate funds to such entities as needed to achieve the purpose of this Act;

and (21) to share employees with other units of government, including agencies of the United States, agencies of the State of Illinois, and agencies or personnel of any unit of local government.

Section 30.

Limitations.

If any of the Authority's powers are exercised within the jurisdictional limits of any municipality, then all of the ordinances of that municipality remain in full force and effect and are controlling.

The Authority shall not issue any revenue bonds relating SB0688 Engrossed - 14 - LRB103 03141 AWJ 48147 b to the financing of a project located within the planning and subdivision control jurisdiction of any municipality or county unless:

(1) notice, including a description of the proposed project and the financing therefor, is submitted to the corporate authorities of the municipality or, in the case of a proposed project in an unincorporated area, to the county board;

and (2) the corporate authorities do not or, in the case of an unincorporated area, the county board does not, adopt a resolution disapproving the project within 45 days after receipt of the notice.

Section 35.

Revenue Bonds.

(a) The Authority shall have the continuing power to issue revenue bonds, notes, or other evidences of indebtedness in an aggregate amount not to exceed $200,000,000 for the purpose of developing, constructing, acquiring, or improving projects, including those established by business entities locating or expanding property within the territorial jurisdiction of the Authority, for entering into venture capital agreements with businesses locating or expanding within the territorial jurisdiction of the Authority, for acquiring and improving any property necessary and useful in connection therewith, and for the purposes of the Employee Ownership Assistance Act.

The bonds must be issued under the supervision of the Illinois Finance Authority, as set forth under Section 825-13.1 of the Illinois Finance Authority Act.

For the purpose of evidencing SB0688 Engrossed - 15 - LRB103 03141 AWJ 48147 b the obligations of the Authority to repay any money borrowed, the Authority may, pursuant to resolution, from time to time issue and dispose of its interest bearing revenue bonds, notes, or other evidences of indebtedness and may also from time to time issue and dispose of such bonds, notes, or other evidences of indebtedness to refund, at maturity, at a redemption date or in advance of either, any revenue bonds, notes, or other evidences of indebtedness pursuant to redemption provisions or at any time before maturity.

All such revenue bonds, notes, or other evidence of indebtedness shall be payable solely from the revenues or income to be derived from loans made with respect to projects, from the leasing or sale of the projects, or from any other funds available to the Authority for such purposes, including, when provided by ordinance of the Authority, authorizing the issuance of revenue bonds or notes.

The revenue bonds, notes, or other evidences of indebtedness may bear such date or dates, may mature at such time or times not exceeding 40 years from their respective dates, may bear interest at such rate or rates not exceeding the maximum rate permitted by the Bond Authorization Act, may be in such form, may carry such registration privileges, may be executed in such manner, may be payable at such place or places, may be made subject to redemption in such manner and upon such terms, with or without premium as is stated on the face thereof, may be authenticated in such manner, and may contain such terms and covenants as may be SB0688 Engrossed - 16 - LRB103 03141 AWJ 48147 b provided by an applicable resolution.

(b) The holder or holders of any revenue bonds, notes, or other evidences of indebtedness issued by the Authority may bring suits at law or proceedings in equity to compel the performance and observance by any corporation or person or by the Authority or any of its agents or employees of any contract or covenant made with the holders of such revenue bonds, notes, or other evidences of indebtedness, to compel such corporation, person, the Authority, and any of its agents or employees to perform any duties required to be performed for the benefit of the holders of any such revenue bonds, notes, or other evidences of indebtedness by the provision of the resolution authorizing their issuance and to enjoin such corporation, person, the Authority, and any of its agents or employees from taking any action in conflict with any such contract or covenant.

(c) If the Authority fails to pay the principal of or interest on any of the revenue bonds or premium, if any, as the same become due, a civil action to compel payment may be instituted in the appropriate circuit court by the holder or holders of the revenue bonds on which such default of payment exists or by an indenture trustee acting on behalf of such holders.

Delivery of a summons and a copy of the complaint to the Chairperson of the Board shall constitute sufficient service to give the circuit court jurisdiction of the subject matter of such a suit and jurisdiction over the Authority and SB0688 Engrossed - 17 - LRB103 03141 AWJ 48147 b its officers named as defendants for the purpose of compelling such payment.

Any case, controversy, or cause of action concerning the validity of this Act relates to the revenue of the State of Illinois.

(d) Notwithstanding the form and tenor of any such revenue bonds, notes, or other evidences of indebtedness and in the absence of any express recital on the face of any such revenue bond, note, or other evidence of indebtedness that it is nonnegotiable, all such revenue bonds, notes, and other evidences of indebtedness shall be negotiable instruments.

Pending the preparation and execution of any such revenue bonds, notes, or other evidences of indebtedness, temporary revenue bonds, notes, or evidences of indebtedness may be issued as provided by ordinance.

(e) To secure the payment of any or all of such revenue bonds, notes, or other evidences of indebtedness, the revenues to be received by the Authority from a lease agreement or loan agreement shall be pledged, and, for the purpose of setting forth the covenants and undertakings of the Authority in connection with the issuance thereof and the issuance of any additional revenue bonds, notes, or other evidences of indebtedness payable from such revenues, income, or other funds to be derived from projects, the Authority may execute and deliver a mortgage or trust agreement.

A remedy for any breach or default of the terms of any such mortgage or trust agreement by the Authority may be by mandamus proceedings in SB0688 Engrossed - 18 - LRB103 03141 AWJ 48147 b the appropriate circuit court to compel the performance and compliance therewith, but the trust agreement may prescribe by whom or on whose behalf the action may be instituted.

(f) The revenue bonds or notes shall be secured as provided in the authorizing ordinance which may, notwithstanding any other provision of this Act, include in addition to any other security a specific pledge or assignment of and lien on or security interest in any or all revenues or money of the Authority from whatever source which may by law be used for debt service purposes and a specific pledge or assignment of and lien on or security interest in any funds or accounts established or provided for by ordinance of the Authority authorizing the issuance of such revenue bonds or notes.

(g) The State of Illinois pledges to and agrees with the holders of the revenue bonds and notes of the Authority issued pursuant to this Section that the State will not limit or alter the rights and powers vested in the Authority by this Act to impair the terms of any contract made by the Authority with such holders or in any way impair the rights and remedies of such holders until such revenue bonds and notes, together with interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged.

The Authority is authorized to include these pledges and agreements of the State in any SB0688 Engrossed - 19 - LRB103 03141 AWJ 48147 b contract with the holders of revenue bonds or notes issued pursuant to this Section.

(h) Under no circumstances shall any bonds issued by the Authority or any other obligation of the Authority be or become an indebtedness or obligation of the State of Illinois or of any other political subdivision of or municipality within the State, nor shall any such bond or obligation be or become an indebtedness of the Authority 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.

(i) For the purpose of financing a project pursuant to this Act, the Authority shall be authorized to apply for an allocation of tax-exempt bond financing authorization provided by Section 11143 of the Safe, Accountable, Flexible, Efficient Transportation Equity Act:

A Legacy for Users (SAFETEA-LU), Public Law 109-59, as well as financing available under any other federal law or program.

Section 40.

Designation of depository.

The Authority shall biennially designate a national or State bank or banks as depositories of its money.

Those depositories shall be designated only within the State and upon condition that bonds approved as to form and surety by the Authority and at least equal in amount to the maximum sum expected to be on deposit at SB0688 Engrossed - 20 - LRB103 03141 AWJ 48147 b any one time shall be first given by the depositories to the Authority, those bonds to be conditioned for the safekeeping and prompt repayment of the deposits.

When any of the funds of the Authority shall be deposited by the treasurer in any such depository, the treasurer and the sureties on his official bond shall, to that extent, be exempt from liability for the loss of the deposited funds by reason of the failure, bankruptcy, or any other act or default of the depository.

However, the Authority may accept assignments of collateral by any depository of its funds to secure the deposits to the same extent and conditioned in the same manner as assignments of collateral are permitted by law to secure deposits of the funds of any city.

Section 45.

Reports;

Inspector General.

The Authority shall, annually, submit a report of its finances to the Auditor General.

The Authority shall annually submit a report of its activities to the Governor and to the General Assembly.

The Authority may also create an office of the Inspector General to provide oversight and compliance with any of its regulatory policies.

Section 50.

Dissolution of the Authority.

The Authority is dissolved upon the last to occur of the following:

(1) the expiration of the 15-year period that begins on the effective date of this Act;

or (2) one year after the date that all SB0688 Engrossed - 21 - LRB103 03141 AWJ 48147 b revenue bonds, notes, and other evidence of indebtedness of the Authority have been fully paid and discharged or otherwise provided for.

Upon the dissolution of the Authority, all of its rights and property shall pass to and be vested in the State of Illinois.

Section 900.

The Illinois Finance Authority Act is amended by adding Section 825-13.1 as follows (20 ILCS 3501/825-13.1 new) Sec.

825-13.1.

Supervision of the Cairo Development Authority bond issuances.

(a) All bond issuances of the Cairo Development Authority are subject to supervision, management, control, and approval of the Illinois Finance Authority.

(b) All bonds issued by the Cairo Development Authority under the supervision of the Illinois Finance Authority are subject to the terms and conditions that are set forth in the Cairo Development Authority Act.

(c) The bonds issued by the Cairo Development Authority under the supervision of the Illinois Finance Authority are not debts of the Illinois Finance Authority or of the State.

Section 999.

This Act takes effect uponJanuary becoming1, law.2025.