IL HB0750

Amends the Regional Transportation Authority Act to grant the Suburban Bus Board authority to borrow money for five specific purposes: constructing a new garage in northwestern Cook County suburbs, converting the South Cook garage in Markham to a Compressed Natural Gas facility, constructing a new paratransit garage in DuPage County, expanding the North Shore garage in Evanston, and purchasing new transit buses.

Authorizes the Suburban Bus Board to issue revenue bonds up to a maximum principal amount of $100,000,000 to finance these projects, subject to approval by the Regional Transportation Authority with an affirmative vote of 12 of its Directors.

Requires at least 25% of bonds to be sold through public bid and limits negotiated sales to no more than 75% of total principal amount.

Specifies that bonds must have scheduled principal or mandatory redemption payments in equal annual amounts over a term not exceeding 25 years, with first payment due in the fiscal year of issuance or the next succeeding fiscal year.

Establishes that revenue bonds are payable solely from the Suburban Bus Board's revenues and do not constitute state debt or create liens on physical property of the Board.