Bill > HB1158

This bill amends the Metropolitan Water Reclamation District Act to increase the maximum amount of bonds, notes, or other debt instruments that can be issued in a single budget year from $150,000,000 to $250,000,000. The bill allows the corporate authorities of a sanitary district to issue these financial instruments to fund various infrastructure and improvement projects, including sewage treatment works, administrative buildings, water quality improvement projects, renewable energy devices, and flood control facilities. The bonds can be issued without voter approval and can be sold through private or public sales. The bill maintains existing provisions that allow the district to issue additional bonds for specific purposes, such as refunding previous obligations, receiving funds from the Water Pollution Control Revolving Fund, or issuing Build America Bonds. The legislation also continues to permit the district to issue up to $600,000,000 in bonds to contribute to its pension fund, with the goal of reducing the fund's unfunded liability. The bill extends the authorization for such bond issuances through December 31, 2034.

Government Affairs

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1158&GAID=18&DocTypeID=HB&SessionID=114&GA=104