Loading chat...

IL SB2589

Bill

Official Source

Status

Passed

11/29/2018

Primary Sponsor

Napoleon Harris

Click for details

Origin

Senate

100th General Assembly

AI Summary

  • Amends the Park District Code Section 6-2 to modify debt limitations for park districts issuing bonds
  • Exempts up to $15,000,000 in bonds issued by the Carol Stream Park District (approved by referendum February 2, 2010) from standard percentage debt limitations
  • Exempts up to $13,000,000 in bonds issued by the Midlothian Park District (approved by referendum March 20, 2018) from standard percentage debt limitations
  • These exempted bonds are not counted toward the existing principal indebtedness calculation for purposes of statutory debt limitations
  • Takes effect upon becoming law

Legislative Description

REGIONAL DEVELOPMENT AUTHORITY

Last Action

Public Act . . . . . . . . . 100-1125

11/29/2018

Committee Referrals

Executive5/8/2018
Rules4/27/2018
Commerce and Economic Development2/14/2018
Assignments2/7/2018

Full Bill Text

No bill text available