HB 4147 — CENTRAL IL ECON DEV AUTHORITY

HB4147 EngrossedEnrolled LRB094 14041 AJO 49296 b AN ACT in relation to economic development.

(4) that a lack of decent housing contributes to urban blight, crime, anti-social behavior, disease, a higher need for public assistance, reduced tax revenues, and the migration of workers and their families away from areas which fail to offer adequate, decent, and affordable housing;housing, leading to the disconnection of younger generations from their elderly relations;

(5) that decent, affordable housing is a necessary HB4147 Enrolled - 2 - LRB094 14041 AJO 49296 b ingredient of life affording each citizen basic human dignity, a sense of self-worth, confidence, and a firm foundation upon HB4147which Engrossedto -build 2a -family, LRB094educate 14041children, AJOand 49296live bout whichtheir toelderly buildyears ain familydignity; and educate children;

HB4147 Enrolled - 3 - LRB094 14041 AJO 49296 b (1) a capital project, including one or more buildings and other structures, improvements, machinery and equipment whether or not on the same site or sites now existing or HB4147 Engrossed - 3 - LRB094 14041 AJO 49296 b hereafter acquired, suitable for use by any manufacturing, industrial, research, transportation or commercial enterprise including but not limited to use as a factory, mill, processing plant, assembly plant, packaging plant, fabricating plant, ethanol plant, office building, industrial distribution center, warehouse, repair, overhaul or service facility, freight terminal, research facility, test facility, railroad facility, port facility, solid waste and wastewater treatment and disposal sites and other pollution control facilities, resource or waste reduction, recovery, treatment and disposal facilities, and including also the sites thereof and other rights in land therefore whether improved or unimproved, site preparation and landscaping and all appurtenances and facilities incidental thereto such as utilities, access roads, railroad sidings, truck docking and similar facilities, parking facilities, dockage, wharfage, railroad roadbed, track, trestle, depot, terminal, switching and signaling equipment or related equipment and other improvements necessary or convenient thereto;

Any project automatically includes all site improvements and new construction involving sidewalks, sewers, HB4147 Enrolled - 4 - LRB094 14041 AJO 49296 b solid waste and wastewater treatment and disposal sites and other pollution control facilities, resource or waste reduction, recovery, treatment and disposal facilities, parks, HB4147 Engrossed - 4 - LRB094 14041 AJO 49296 b open spaces, wildlife sanctuaries, streets, highways, and runways.

"Costs incurred in connection with the development, HB4147 Enrolled - 5 - LRB094 14041 AJO 49296 b construction, acquisition or improvement of a project" means the following:

(1) the cost of purchase and construction of all lands and HB4147 Engrossed - 5 - LRB094 14041 AJO 49296 b improvements in connection therewith and equipment and other property, rights, easements, and franchises acquired which are deemed necessary for the construction;

Macon, Sangamon, Menard, Logan, Christian, Bond, DeWitt, Macoupin, Montgomery, Calhoun, Greene, and MontgomeryJersey and any navigable waters and air space located therein.

(b) The governing and administrative powers of the Authority shall be vested in a body consisting of 1215 members as follows:

The county board chairperson of the following counties shall HB4147 Enrolled - 6 - LRB094 14041 AJO 49296 b each appoint one member:

Macon, Sangamon, Menard, Logan, Christian, Bond, DeWitt, Macoupin, Montgomery, Calhoun, Greene, and Montgomery.Jersey.

All public members shall reside within the territorial jurisdiction HB4147 Engrossed - 6 - LRB094 14041 AJO 49296 b of the Authority.

(c) 78 members shall constitute a quorum.

(i) 23 shall serve until the third Monday in January, 2007, (ii) 23 shall serve until the third Monday in January, 2008, (iii) 23 shall serve until the third Monday in January, 2009, and (iv) 2 shall serve until the third Monday in January, 2010.

In case of vacancy in a HB4147 Enrolled - 7 - LRB094 14041 AJO 49296 b Governor-appointed membership when the Senate is not in session, the Governor may make a temporary appointment until the next meeting of the Senate when a person shall be nominated HB4147 Engrossed - 7 - LRB094 14041 AJO 49296 b to fill the office and, upon confirmation by the Senate, he or she shall hold office during the remainder of the term and until a successor is appointed and qualified.

The Authority may engage the services of the Illinois Finance Authority, attorneys, appraisers, engineers, accountants, credit analysts, and other consultants if the Central Illinois HB4147 Enrolled - 8 - LRB094 14041 AJO 49296 b Economic Development Authority deems it advisable.

All official acts of the Authority shall HB4147 Engrossed - 8 - LRB094 14041 AJO 49296 b require the approval of at least 8 members.

It shall be the duty of the Authority to promote development within the geographic confines of Macon, Sangamon, Menard, Logan, Christian, Bond, DeWitt, Macoupin, Montgomery, Calhoun, Greene, and MontgomeryJersey counties.

HB4147 Enrolled - 9 - LRB094 14041 AJO 49296 b (9) to engage in any activity or operation which is incidental to and in furtherance of efficient operation to accomplish the Authority’s primary purpose;

HB4147 Engrossed - 9 - LRB094 14041 AJO 49296 b (10) to acquire, own, construct, lease, operate, and maintain bridges, terminals, terminal facilities, and port facilities and to fix and collect just, reasonable, and nondiscriminatory charges for the use of such facilities.

Notwithstanding any other HB4147 Enrolled - 10 - LRB094 14041 AJO 49296 b provision of law, the Authority shall not enter into any agreement providing for the purchase and lease of tangible personal property which results in the avoidance of taxation HB4147 Engrossed - 10 - LRB094 14041 AJO 49296 b under the Retailers’ Occupation Tax Act, the Use Tax Act, the Service Use Tax Act, or the Service Occupation Tax Act, without the prior written consent of the Governor.

and (iii) acquisition and improvement of any property necessary and useful in connection therewith;therewith.

and (iv) for the purposes of the Employee Ownership Assistance Act.

The 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 HB4147 Enrolled - 11 - LRB094 14041 AJO 49296 b rate or rates not exceeding the maximum rate permitted by the Bond Authorization HB4147 Engrossed - 11 - LRB094 14041 AJO 49296 b 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 provided by an applicable resolution.

(d) Notwithstanding the form and tenor of any bond, note, HB4147 Enrolled - 12 - LRB094 14041 AJO 49296 b or other evidence of indebtedness and in the absence of any HB4147 Engrossed - 12 - LRB094 14041 AJO 49296 b express recital on its face that it is non-negotiable, all such bonds, notes, and other evidences of indebtedness shall be negotiable instruments.

(g) The State of Illinois pledges to and agrees with the holders of the bonds and notes of the Authority issued pursuant HB4147 Enrolled - 13 - LRB094 14041 AJO 49296 b to this Section that the State will not limit or alter the HB4147 Engrossed - 13 - LRB094 14041 AJO 49296 b rights and powers vested in the Authority by this Act so as to impair the terms of any contract made by the Authority with the holders of bonds or notes or in any way impair the rights and remedies of those holders until the 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 the holders, are fully met and discharged.

In consideration thereof, the notes and bonds of the Authority issued pursuant to this Act and the income from these notes and bonds may be free from all taxation by the State or its political subdivisions, except from estate, HB4147 EngrossedEnrolled - 14 - LRB094 14041 AJO 49296 b State or its political subdivisions, except for estate, transfer, and inheritance taxes.

HB4147 Enrolled - 15 - LRB094 14041 AJO 49296 b (d) The Authority shall have the power to enter into HB4147 Engrossed - 15 - LRB094 14041 AJO 49296 b intergovernmental agreements with the State of Illinois, the counties of Macon, Sangamon, Menard, Logan, Christian, Bond, DeWitt, andMacoupin, Montgomery, theCalhoun, IllinoisGreene, Developmentand FinanceJersey, Authority, the Illinois HousingFinance Development Authority, the Illinois EducationHousing Facilities Authority, the Illinois Farm Development Authority, the Rural Bond Bank, the United States government and any agency or instrumentality of the United States, any unit of local government located within the territory of the Authority, or any other unit of government to the extent allowed by Article VII, Section 10 of the Illinois Constitution and the Intergovernmental Cooperation Act.

provided that the Authority may accept assignments of collateral by any depository of its funds to secure such HB4147 EngrossedEnrolled - 16 - LRB094 14041 AJO 49296 b 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.