HB4036 Summary

• Amends the Regional Transportation Authority Act to grant the Suburban Bus Board authority to borrow money for four specific capital projects with a combined estimated cost of $100,000,000.

• Authorizes construction of a new garage in northwestern Cook County suburbs ($60,000,000), conversion of the South Cook garage in Markham to a Compressed Natural Gas facility ($12,000,000), construction of a new paratransit garage in DuPage County ($25,000,000), and expansion of the North Shore garage in Evanston ($3,000,000).

• Permits the Suburban Bus Board to issue revenue bonds up to $100,000,000 maximum, subject to Regional Transportation Authority approval by affirmative vote of 12 directors.

• Requires at least 25% of bonds be sold by public bid and no more than 75% by negotiated sale, with equal principal or mandatory redemption payments over a maturity period not exceeding 25 years.

• Specifies that bonds are payable solely from the Suburban Bus Board's revenues and income, not from Regional Transportation Authority funds or any state/municipal funds, and do not constitute state debt.