(315 ILCS 30/Pt. III heading)
(315 ILCS 30/24) (from Ch. 67 1/2, par. 91.124)
Sec. 24.
In addition to the powers and authorities granted in this
Act to municipalities, acting through a Department of Urban Renewal,
municipalities creating a Department of Urban Renewal pursuant to the
provisions of this Act shall have the following powers and authority:
(a) To acquire by gift, purchase or exercise of the right of eminent
domain the fee simple title to real property, or such lesser estate as
may serve the purposes of this Act, and to hold, improve, mortgage,
manage, sell, lease or exchange the same, in accordance with the
provisions of this Act and for any of the purposes of this Act.
(b) To issue bonds from time to time in its discretion to procure
funds for any of the purposes of this Act; to issue refunding bonds for
the purpose of paying or retiring or in exchange for bonds previously
issued by it or by a land clearance commission which is to be dissolved
by reason of the creation of a Department. "Bonds" shall mean any bonds
(including refunding bonds), notes, interim certificates, debentures, or
other obligations issued by a municipality pursuant to this Act, and the
words "Bondholder" or "Bondholders" shall mean the holder or holders of
any such bonds.
(c) To borrow money, to apply for and accept advances, loans,
grants, contributions, gifts, services, or other financial assistance,
from the United States of America or any agency or instrumentality
thereof, the State, County, Municipality or other public body or from
any sources, public or private, for or in aid of any of the purposes of
this Act, including advances for surveys and plans for redevelopment
projects or conservation areas, and to secure the payment of any loans
or advances by the issuance of bonds or notes, and by the pledge of any
loan, grant or contribution, or parts thereof, or the contracts
therefor, to be received from the United States of America or any agency
or instrumentality thereof, and to enter into and carry out contracts in
connection therewith; to redeem its bonds or notes at the redemption
price established therein or to purchase them at less than the
redemption price, all bonds or notes so redeemed or purchased to be
cancelled. Any ordinance providing for the issuance of such bonds shall
be effective without submitting the proposition to the electors of the
municipality in accordance with the requirements of Sections 8-4-1 and
8-4-2 of the "Illinois Municipal Code", approved May 29, 1961, as
heretofore and hereafter amended. A municipality, notwithstanding the
provisions of any other law, may include in any contract for financial
assistance with the United States of America or any agency or
instrumentality thereof for a redevelopment project or a conservation
area, such conditions imposed pursuant to Federal law as the
municipality may deem reasonable and appropriate and which are not
inconsistent with the purposes of this Act or with the foregoing
proviso.
(d) To incur indebtedness and issue general obligation bonds, as
provided in Section 28 hereof, in such amount or amounts as the
governing body of the municipality deems necessary for the purpose of
raising funds to be used by a Department of Urban Renewal whose area of
operation includes that municipality, in aid of the eradication and
elimination of slum and blighted areas and the acquisition, development
or redevelopment of any other areas which may constitute a redevelopment
project within that municipality or in aid of a conservation area.
(e) To appropriate and pay for the use of the Department whose area
of operation includes that municipality, available funds for and in aid
of redevelopment projects and conservation areas in that municipality in
the manner provided in this Act.
(f) To appropriate and pay for the use of the Department of Urban
Renewal under Part I of this Act, the proceeds of bonds issued in
exercise of the powers specified in Section 11-11-1 of the "Illinois
Municipal Code", approved May 29, 1961, as heretofore and hereafter
amended.
(g) To use for any of the purposes of this Act any of the funds
arising from the use or sale of any property acquired under the
provisions of this Act and not pledged for the payment of revenue bonds.
(h) The Department, subject to the approval of the Budget Director
of the municipality, shall prescribe methods and forms for keeping its
accounts, records and books; prescribe accounts to which particular
outlays and receipts shall be entered, charged, or credited; file
periodical reports covering its operations and activities in a form
prescribed by such Budget Director. Copies of all such reports shall be
submitted to the presiding officer of the municipality.
(i) To succeed, by assignment, novation, conveyance, substitution or
other appropriate mode of transfer, to the assets, liabilities, rights,
privileges, powers and duties of a land clearance commission which
exists in the area of operation of its Department of Urban Renewal,
including but not limited to rights of such land clearance commission in
real property, rights and obligations under contracts, options or
agreements of any kind or nature, including rights and obligations under
contracts with the government for loans and grants, and rights and
obligations as party to any pending action.
(j) To assign or loan any of its employees to a Department in aid of
the performance of the work of the Department, and provide necessary
office space, equipment or other facilities for the Department.
(k) In case of contumacy or refusal to obey a subpoena issued to any
person, the Circuit Court of the county in which such person
resides or has his principal place of business upon application by the
Department, shall have jurisdiction to issue to such person an order
requiring such person to appear before the Department or before any
member, employee or agent thereof designated to conduct such hearing
there to produce evidence, if so desired, or there to give testimony
touching the matter under investigation and any failure to obey such
order of the Court may be punished by the Court as a contempt thereof.
The officials of any city, village or town and the members of any
zoning commission shall, when requested so to do by any member of the
Department, make available for inspection by the Department or by any
committee, employee or agent of the Department, any and all records and
data which they may have pertaining to an area which is then being
investigated.
(l) For the purpose of aiding in the planning, undertaking or
carrying out of a redevelopment project or a conservation plan for a
conservation area, the governing body of the municipality, after public
hearing, may direct the Department to enter into cooperation and
conveyance agreements with any hospital or educational institution of
higher learning, both public and private, or any private corporation
acting on behalf of such institutions, respecting the redevelopment or
renewal or conservation of slum or blighted or conservation areas
embracing, adjacent to, or in the immediate vicinity of such hospital,
educational institution or a major branch thereof and may, in addition
to its other powers and upon such terms, with or without consideration,
as it may determine, perform such cooperation and conveyance agreements
and do and perform any or all of the actions or things necessary or
desirable to assure that the municipality obtains credit as a local
grant-in-aid for the aggregate amount of expenditures made by any such
hospital, educational institution, or private corporation acting on
behalf of such institutions, which would be eligible as such under Title
I of the Federal Housing Act of 1949, as amended.
(m) Have and exercise all of the powers and functions vested in the
municipality by virtue of any statute as shall be necessary to
effectuate the purposes of this Act.
(Source: P.A. 81-282.)
(315 ILCS 30/25) (from Ch. 67 1/2, par. 91.125)
Sec. 25.
(a) For the purpose of aiding and cooperating with Departments in
accomplishing the objectives of this Act, any state public body (city,
village, incorporated town, county, municipal corporation, commission,
district, authority, or other subdivision or public body of the State) may,
upon such terms, with or without consideration, as it may determine: (1)
dedicate, sell, convey or lease any of its interest in any property or
grant easements, licenses or other rights or privileges therein to a
Department as agent for a municipality; (2) incur the entire expense of any
public improvements made by such public body in exercising the powers
granted in this section; (3) do any and all things necessary to aid or
cooperate in the planning or carrying out of a redevelopment project or
conservation plan; (4) lend, grant or contribute funds to a Department as
agent for a municipality; (5) enter into agreements (which may extend over
any period, notwithstanding any provision or rule of law to the contrary)
with a municipality or other public body respecting action to be taken
pursuant to any of the powers granted by this Act, including the furnishing
of funds or other assistance in connection with a redevelopment project or
a conservation area; (6) cause parks, playgrounds, water, sewer or drainage
facilities to be furnished adjacent to or in connection with a
redevelopment project or conservation area, and (7) cause public buildings
and public facilities, including recreational, community, or educational
facilities, or any other works which it is otherwise empowered to undertake
to be furnished; and cause administrative and other services to be
furnished to a Department as agent for the municipality.
(b) Any sale, conveyance, lease or agreement provided for in this
section may be made by a public body without appraisal, public notice,
advertisement or public bidding.
(c) For the purpose of aiding in the planning, undertaking or carrying
out of a redevelopment project or a conservation area, a municipality may
(in addition to its other powers and upon such terms with or without
consideration, as it may determine) do and perform any or all of the
actions or things which, by the provisions of subsection (a) of this
section, a public body is authorized to do or perform, including the
furnishing of financial and other assistance.
(Source: Laws 1961, p. 3308.)
(315 ILCS 30/26) (from Ch. 67 1/2, par. 91.126)
Sec. 26.
The sale of any real property by a Department where required to be
made for a monetary consideration except public sales of real property not
sold within the 5-year period as provided in Section 18, shall be subject
to the approval of the governing body of the municipality in which the real
property is located; provided, however, that no new or additional approval
of a sale by the governing body shall be required in any case where a sale
by a land clearance commission has heretofore been approved by the State
Housing Board and the governing body pursuant to the "Blighted Areas
Redevelopment Act of 1947," approved July 2, 1947, as amended.
The disposition of real property acquired pursuant to the provisions of
this Act shall be exempt from the requirements of Sections 11-76-1 and
11-76-2 of the "Illinois Municipal Code", approved May 29, 1961, as
heretofore and hereafter amended. All deeds of conveyances of real
property shall be executed as provided in Section 11-76-3 of said Illinois
Municipal Code. Any deed of conveyance may provide such restrictions as
are required by the plan for development or conservation plan and the
building and zoning ordinances, but no deed of conveyance or lease either
by the municipality or any subsequent owner shall contain a covenant
running with the land or other provisions prohibiting occupancy of the
premises by any person because of race, creed, color, religion, physical or mental disability,
national origin or sex.
(Source: P.A. 99-143, eff. 7-27-15.)
(315 ILCS 30/27) (from Ch. 67 1/2, par. 91.127)
Sec. 27.
Revenue bonds may be issued by a municipality and such bonds shall
contain a provision that the principal thereof and interest thereon shall
be payable exclusively from the proceeds and revenues of any redevelopment
project or conservation area which is financed in whole or in part with the
proceeds of such bonds, together with that amount of the funds of the
municipality from whatever source derived as is necessary to constitute the
local cash grant-in-aid for the redevelopment project or conservation area
within the meaning of applicable federal law; provided, however that any
such bonds may be additionally secured by a pledge of any loan, grant or
contribution, or parts thereof, thereafter to be received from the United
States of America or any agency or instrumentality thereof, or by the
contracts therefor.
(a) Neither the members of a Department of Urban Renewal, nor any
officers, agents or employees of the municipality, nor any other persons
executing such bonds shall be liable personally thereof by reason of the
issuance thereof. Such bonds (and the same shall so state on their face)
shall not be a debt of any city, village, incorporated town, county, the
State or any political subdivision thereof and neither the city, village,
incorporated town or the county, nor the State or any political subdivision
thereof, shall be liable thereon, nor in any event shall such bonds be
payable out of any funds or properties of a municipality other than those
enumerated in this Section. Such bonds shall not constitute an indebtedness
within the meaning of any constitutional or statutory debt limitation or
restriction and such bonds are declared to be issued for an essential
public and governmental purpose.
(b) Bonds issued hereunder may be issued in one or more series and shall
bear such date or dates, shall mature at such time or times, bear interest
at such rate or rates, not exceeding the maximum rate authorized by the
Bond Authorization Act, as amended at the time of the making of the
contract, for bonds issued before January 1, 1972 and not exceeding
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, for bonds issued after
January 1, 1972, be in such denomination or denominations, be in such form
either coupon or registered, carry registration privileges, have such
priority, be executed in such manner, be payable in such medium of payment,
at such place or places and be subject to such terms of redemption (with or
without premium) as the ordinance, any trust indenture relating thereto,
and the bonds issued may provide. Any ordinance providing for the issuance
of such bonds shall be effective without submitting the proposition to the
electors of the municipality in accordance with the requirements of
Sections 8-4-1 and 8-4-2 of the "Illinois Municipal Code", approved May 29,
1961, as heretofore and hereafter amended.
(c) The bonds shall be sold at not less than par and accrued interest.
(d) In case any of the members of the Department of Urban Renewal or
officers of the municipality whose signatures appear on any bonds or
coupons shall cease to be such members or officers before the delivery of
such bonds, such signatures shall, nevertheless, be valid and sufficient
for all purposes, the same as if such members or officers had remained in
office until such delivery. Any provision of any law to the contrary
notwithstanding, any bonds issued pursuant to this Act shall be fully
negotiable.
(e) In any action or proceedings involving the validity or
enforceability of any such bond or the security therefor, any such bond
reciting in substance that it has been issued by the municipality, to aid
in financing any redevelopment project or conservation area pursuant to
this Act and for any purposes authorized by this Act shall be conclusively
deemed to have been issued for such redevelopment project or conservation
area and other purposes and such redevelopment project or conservation area
shall be conclusively deemed to have been planned, located and carried out
in accordance with the purposes and provisions of this Act.
(f) In connection with the issuance of bonds and in order to secure the
payment of such bonds, a municipality, in addition to its other powers,
shall have power in the bond ordinance, subject to the limitations, terms
and provisions in this Act contained:
(1) To pledge all or any part of its revenues (as hereinafter defined)
to which its right then exists or may thereafter come into existence.
(2) To covenant against pledging all or any part of its revenues (as
hereinafter defined) or against permitting or allowing any lien on its
revenues (as hereinafter defined) or property; and to covenant as to what
other, or additional debts or obligations may be incurred by it.
(3) To covenant as to the bonds to be issued and as to the issuance of
such bonds in escrow or otherwise, and as to the use and disposition of the
proceeds thereof; to provide for the replacement of lost, destroyed or
mutilated bonds; and to covenant for their redemption and to provide the
terms and conditions thereof.
(4) To covenant as to the use and disposition to be made of all or any
part of its revenues (as hereinafter defined); and to create or to
authorize the creation of special funds for moneys held for operating
costs, debt service, reserves, or other purposes, and to covenant as to the
use and disposition of the moneys held in such funds.
(5) To prescribe the procedure, if any, by which the terms of any
contract with bondholders may be amended or abrogated, the amount of bonds
the holders of which must consent thereto and the manner in which such
consent may be given.
(6) To covenant as to the rights, liabilities, powers and duties arising
upon the breach by it of any covenant, condition, or obligations; and to
covenant and prescribe as to the events of default and terms and conditions
upon which any or all of its bonds shall become or may be declared due
before maturity, and as to the terms and conditions upon which such
declaration and its consequences may be waived.
(7) To vest in a trustee or trustees or the holders of bonds or any
specified proportion of them the right to enforce the payment of the bonds
or any covenants securing or relating to the bonds; and to enforce
collection of the proceeds and revenues (as hereinafter defined) arising
from any redevelopment project or conservation area which have been pledged
to secure such bonds and to dispose of such moneys in accordance with the
agreement of the municipality with such trustee or trustees, or obligee or
obligees; to provide for the powers and duties of such trustee or trustees
and obligee or obligees and to limit the liabilities thereof; and to
provide the terms and conditions upon which such trustee or trustees, or
obligee or obligees may enforce any covenant or rights securing or relating
to the bonds.
(8) To exercise all or any part or combination of the powers herein
granted; to make covenants other than in addition to the covenants herein
expressly authorized, of like or different character; to make such
covenants and to do any and all such acts and things as may be necessary or
convenient or desirable in order to secure its bonds, or, in the absolute
discretion of said municipality, as will tend to make the bonds more
marketable notwithstanding that such covenants, acts or things may not be
enumerated herein.
(9) "Revenue" or "Revenues" shall mean the proceeds and revenues
(including, but not in limitation thereof, the proceeds from the sale of
real property, moneys received from the operation and management, or
demolition, of existing housing or other buildings or improvements located
on any real property in a redevelopment project or conservation area) from
any redevelopment project or conservation area which is financed in whole
or in part with the proceeds of bonds issued hereunder, together with that
amount of the funds, from whatever source derived, as is necessary to
constitute the local cash grant-in-aid for the project within the meaning
of applicable Federal law and any loan, grant or contribution, or parts
thereof, thereafter to be received from the United States of America or any
agency or instrumentality thereof, or by the contracts therefor.
(g) A bondholder or trustee for a bondholder shall have the right in
addition to all other rights which may be conferred on such bondholder or
trustee, subject to any contractual restrictions binding upon such
bondholder or trustee, and to the limitations, terms and provisions in this
Act contained:
(1) By mandamus, injunction, civil action or proceeding to
compel the municipality and the officers, agents, or employees thereof to
perform each and every term, provision and covenant contained in the bond
resolution and in any contract of said municipality with or for the benefit
of such bondholder or trustee, and to require the carrying out of any or
all such covenants and agreements of said municipality and the fulfillment
of all duties imposed upon said municipality by this Act.
(2) By action or proceeding to enjoin any acts or
things which may be unlawful, or the violation of any of the rights of such
bondholders.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
(315 ILCS 30/28) (from Ch. 67 1/2, par. 91.128)
Sec. 28.
Every municipality is authorized and empowered to incur
indebtedness and issue bonds in such amount or amounts as the governing
body of the municipality deems necessary for the purpose of raising funds
for the use of a Department of Urban Renewal whose area of operation
includes that municipality in aid of a redevelopment project or
conservation area within that municipality. The ordinance authorizing the
issuance of such bonds shall specify the total amount of bonds to be
issued, the form and denomination of the bonds, the date they are to bear,
the place at which they are payable, the date or dates of maturity, which
shall not be later than twenty (20) years after the date the bonds bear,
the rate of interest which shall not exceed the maximum rate authorized by the
Bond Authorization Act, as amended at the time of the making of the contract,
and the dates on which interest is payable. The bonds shall be executed by
such officials as may be provided in the ordinance authorizing their issue.
They may be made registerable as to principal and may be made callable on
any interest payment date at par and accrued interest after notice has been
given at the time and in the manner provided in the bond ordinance. The
bonds shall remain valid even though one or more of the officers executing
the bonds ceases to hold his or their offices before the bonds are
delivered.
The bonds shall be sold to the highest and best bidder at not less than
their par value and accrued interest. The municipality shall, from time to
time as bonds are to be sold, advertise for proposals to purchase the
bonds. Each such advertisement may be published in such newspapers and
journals as the governing body of the municipality may determine but must
be published at least once in a newspaper having a general circulation in
the municipality at least ten days prior to the date of the opening of the
bids. The municipality may reserve the right to reject any and all bids and
re-advertise for bids.
The ordinance authorizing the bonds shall prescribe all the details
thereof and shall provide for the levy and collection of a direct annual
tax upon all the taxable property within the municipality sufficient to pay
the principal thereof and interest thereon as it matures. This tax shall be
in addition to and exclusive of the maximum of all other taxes authorized
to be levied by the municipality. Tax limitations provided by other
statutes of this State shall not apply to taxes levied for payment of these
bonds. A certified copy of the bond ordinance shall be filed with the
County Clerk of the county in which the municipality or any portion thereof
is situated and shall constitute the authority for the extension and
collection of such taxes.
If there is no default in payment of the principal or interest upon the
bonds, and if after setting aside a sum of money equal to the amount of
interest that will accrue on the bonds and a sum of money equal to the
amount of principal that will become due thereon within the next six (6)
months' period, the treasurer and comptroller, if there is a comptroller,
or the municipality shall use the money available from the proceeds of the
taxes levied for the payment of the bonds in calling them for payment, if
by their terms they are subject to redemption. A municipality may provide
in the bond ordinance that whenever the municipality is not in default in
payment of the principal of or interest on the bonds and has set aside the
sums of money provided in this paragraph for interest accruing and
principal maturing within the next six (6) months' period, the money
available from the proceeds of taxes levied for the payment of these bonds
shall be used first in the purchase of the bonds at the lowest price
obtainable, but not to exceed their par value and accrued interest, after
sealed tenders for their purchase have been advertised for as may be
directed by the corporate authorities thereof.
Bonds called for payment and paid or purchased under this Section shall
be marked paid and cancelled.
Whenever any bonds are purchased or redeemed and cancelled, the taxes
thereafter to be extended for payment of the principal of and interest on
the remainder of the issue shall be reduced in an amount equal to the
principal of and the interest that would have thereafter accrued upon the
bonds so cancelled. A resolution shall be adopted by the corporate
authorities of the municipality finding these facts. A certified copy of
this resolution shall be filed with the County Clerk of the county in which
the municipality, or any portion thereof, is situated, whereupon the County
Clerk shall reduce and extend such tax levies in accordance therewith.
The ordinance may provide for the creation of a sinking fund to consist
of the proceeds of taxes levied for the payment of the principal of and
interest upon these bonds. This fund shall be faithfully applied to the
purchase or payment of the bonds, and interest thereon, issued pursuant to
the provisions of this Act.
Bonds issued by a municipality for the purposes herein set forth shall
not be in excess of any existing statutory limitation on municipal
indebtedness, nor shall any municipality by the issuance of the bonds
provided for in this Act be allowed to become indebted in any manner or for
any purpose to an amount including existing indebtedness in the aggregate
exceeding five per centum (5%) on the value of taxable property therein to
be ascertained by the last assessment for State and County taxes previous
to the incurring of such indebtedness.
No ordinance providing for the issuance of such bonds shall be effective
until it has been submitted to referendum of, and approved by, the electors
of that municipality in accordance with the provisions of Section 8-4-1 and
8-4-2 of the "Illinois Municipal Code", approved May 29, 1961, as
heretofore and hereafter amended.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
(315 ILCS 30/28.1) (from Ch. 67 1/2, par. 91.128.1)
Sec. 28.1.
Any municipality which as of January 1, 1970, has authorized the
issuance and sale of bonds by referendum pursuant to Section 28, but has
not sold bonds so authorized, may, until January 1, 1972, issue such bonds
at a rate of interest not to exceed
the maximum rate authorized by the Bond Authorization Act, as amended at the
time of the making of the contract, without a further
referendum, upon the adoption of an ordinance authorizing
a rate not to exceed the maximum rate authorized by the Bond Authorization
Act, as amended at the time of the making of the contract, provided by
this Section. Such bonds shall be otherwise subject to the
provisions of Section 28. Bonds may be so issued only up to the amount
authorized by the referendum and not previously sold. This Section does not
affect any bonds previously issued and sold under Section 28. If the
provisions of this Section are held invalid, such invalidity does not
affect the provisions of Section 28 which shall remain in full force and
effect as if this Section had not become law, and to this end the
provisions of this Section are severable from the provisions of Section 28.
With respect to instruments for the payment of money issued under this
Section either before, on, or after the effective date of this amendatory
Act of 1989, it is and always has been the intention of the General
Assembly (i) that the Omnibus Bond Acts are and always have been
supplementary grants of power to issue instruments in accordance with the
Omnibus Bond Acts, regardless of any provision of this Act that may appear
to be or to have been more restrictive than those Acts, (ii) that the
provisions of this Section are not a limitation on the supplementary
authority granted by the Omnibus Bond Acts, and (iii) that instruments
issued under this Section within the supplementary authority granted
by the Omnibus Bond Acts are not invalid because of any provision of
this Act that may appear to be or to have been more restrictive than
those Acts.
(Source: P.A. 86-4.)
(315 ILCS 30/29) (from Ch. 67 1/2, par. 91.129)
Sec. 29.
The State and all counties, cities, villages, incorporated towns
and other municipal corporations, political subdivisions and public bodies
and public officers of any thereof, all banks, bankers, trust companies,
savings banks and institutions, building and loan associations, investment
companies and other persons carrying on a banking business, all insurance
companies, insurance associations and other persons carrying on an
insurance business, and all executors, administrators, guardians, trustees
and other fiduciaries may legally invest any sinking funds, moneys or other
funds belonging to them or within their control in any bonds of a
municipality issued in connection with a redevelopment project or
conservation area for which the United States of America or any agency or
instrumentality thereof, the State, or any political subdivision of the
State has extended or provided for or has agreed to extend or provide for
financial assistance which prior to the maturity of such bonds will be in
an amount which (together with any other monies irrevocably committed to
the payment of the principal and interest on such bonds) will suffice to
pay the principal of such bonds with interest to maturity thereon and which
monies are required to be used for the purpose of paying the principal of
and the interest on such bonds at their maturity, it being the purpose of
this Section to authorize the investment in such bonds of all sinking,
insurance, retirement, compensation, pension and trust funds, whether owned
or controlled by private or public persons or officers; provided, however,
that nothing contained in this Section may be construed as relieving any
person, firm or corporation from any duty of exercising reasonable care in
selecting securities.
(Source: Laws 1961, p. 3308.)
(315 ILCS 30/30) (from Ch. 67 1/2, par. 91.130)
Sec. 30.
The provisions of any other statute to the contrary
notwithstanding, funds of a land clearance commission dissolved or in the
process of dissolution pursuant to this Act which have been derived from
grants made by the State of Illinois shall be transferred and paid over to
the municipality for use by a Department of Urban Renewal for any of the
purposes of Part I of this Act.
Any municipality which has issued and sold bonds prior to the effective date of this amendatory Act of the 102nd General Assembly pursuant to Section 24
of the Blighted Areas Redevelopment Act of 1947 (repealed) for the purpose of raising funds to be paid to a land
clearance commission may apply, use and pay the proceeds of such bonds for
and in aid of its Department of Urban Renewal and may use such funds for
any of the purposes of Part I of this Act.
(Source: P.A. 102-510, eff. 8-20-21.)
(315 ILCS 30/31) (from Ch. 67 1/2, par. 91.131)
Sec. 31. When a Department of Urban Renewal has been established
hereunder the presiding officer of the municipality shall so notify the
Department of Commerce and Economic Opportunity
and the land clearance
commission
in its area of operation by transmitting to the Department of
Commerce and Economic Opportunity and such land
clearance commission a certified copy
of the ordinance of the governing body providing for the creation of
such Department.
From and after the receipt of such notice such land clearance
commission shall undertake no new development or redevelopment projects;
however, such land clearance commission shall, pending its dissolution
as hereinafter provided, have and continue to exercise all powers vested
in land clearance commissions by the "Blighted Areas Redevelopment Act
of 1947," approved July 2, 1947, as amended, with respect to: (1)
projects then in progress pending determination, as hereinafter
provided, by the governing body of the municipality as to which, if any,
of the redevelopment projects then in progress are to be completed by
such land clearance commission, and (2) projects which the governing
body of the municipality determines shall be completed by such land
clearance commission.
Such land clearance commission shall promptly prepare a detailed
report covering its operations and activities and the status of all of
its pending development or redevelopment projects, together with all
other pertinent data and information as may be requested by the
Department. The Department shall cause an audit to be made of the
financial affairs and obligations of such land clearance commission.
Copies of such report and audit shall be furnished the presiding officer
of the municipality, the department, the governing body of the
municipality, the Department of Commerce and Economic Opportunity and such land
clearance commission.
Upon receipt of such audit and report the Department of Urban
Renewal, with the approval of the governing body of the municipality,
shall determine with respect to any redevelopment project then in
progress whether such project shall be completed by such land clearance
commission or by the Department of Urban Renewal, and shall so notify
such land clearance commission and the Department of Commerce and
Economic Opportunity.
Such land clearance commission shall, upon receipt of the
determinations of the Department of Urban Renewal with respect to
redevelopment projects then in progress, proceed with the orderly
dissolution of such land clearance commission. When provision has been
made for the refunding or payment of outstanding bonds of such land
clearance commission the Commissioners of such land clearance commission
shall promptly take appropriate action to convey, transfer, assign,
deliver and pay over to the municipality for the purposes under Part I
of this Act, all cash, real property, securities, contracts, records,
and assets of any kind or nature which will not be needed for the
completion by the land clearance commission of any redevelopment project
which the department may have determined should be completed by such
land clearance commission and which will not be required for the orderly
dissolution of such land clearance commission. All assets so conveyed,
assigned, transferred and paid over to the municipality shall be subject
to the same rights, liabilities and obligations as existed prior to the
transfer to the municipality.
When all of the cash, real property, securities, contracts, assets,
records and functions of a land clearance commission have been so
conveyed, transferred, assigned, delivered and paid over to the
municipality and provisions have been made for the refunding or payment
of outstanding bonds of such land clearance commission, and when such
land clearance commission has completed all projects which the
Department, as aforesaid, may have determined should be completed by
such land clearance commission, it shall so notify the Department of
Commerce and Economic Opportunity. When the
Department of Commerce and Economic Opportunity is
satisfied that a proper accounting has been made and that no
contingent liabilities exist, the Department of Commerce and
Economic Opportunity
shall issue a certificate of dissolution which it shall file in the
office in which deeds of property in the area of operation are recorded,
and upon such filing, such land clearance commission shall be dissolved
and cease to exist.
(Source: P.A. 94-793, eff. 5-19-06.)
(315 ILCS 30/32) (from Ch. 67 1/2, par. 91.132)
Sec. 32.
When a Department of Urban Renewal has been established hereunder,
the presiding officer of the municipality shall so notify the Chairman of
the conservation board in its area of operation by transmitting to such
Chairman a certified copy of the ordinance of the governing board providing
for the creation of such Department. Upon receipt of such notice, the
conservation board shall promptly prepare a detailed report covering its
operations and activities and the status of all of its pending programs,
together with all of the pertinent data and information as may be requested
by the Department, and copies of such report shall be submitted to the
presiding officer and the Department.
Upon approval of such report by the presiding officer, all functions and
records of the conservation board shall be transferred to the Department
and the governing body shall, by ordinance, dissolve such conservation
board.
(Source: Laws 1961, p. 3308.)
(315 ILCS 30/33) (from Ch. 67 1/2, par. 91.133)
Sec. 33.
Nothing contained in this Act shall affect or impair the validity
of any act or proceeding done or performed by a land clearance commission
prior to the effective date of this amendatory Act of the 102nd General Assembly under the Blighted Areas Redevelopment Act of 1947 (repealed) or by a
Community Conservation Board under the Urban Community Conservation Act, as
amended.
(Source: P.A. 102-510, eff. 8-20-21.)
(315 ILCS 30/34) (from Ch. 67 1/2, par. 91.134)
Sec. 34.
This Act shall be deemed to create an additional and alternative
method for the eradication and redevelopment of slum and blighted areas and
the development and redevelopment of blighted vacant areas, the
conservation of urban residential areas and the prevention of slums. This
Act shall not be deemed to alter, amend or repeal any other statute having
to do with such matters; and no proceedings, actions or notices shall be
required for the doing, or as a condition precedent for the doing, of any
of the things herein authorized, except such as are prescribed by this Act.
The proceedings herein authorized shall not be subject to the Administrative
Review Law, as amended.
(Source: P.A. 82-783.)
(315 ILCS 30/35) (from Ch. 67 1/2, par. 91.135)
Sec. 35.
This Act being necessary for and intended to secure the public
health, safety and welfare, the provisions of this Act shall be liberally
construed to effectuate the provisions hereof.
(Source: Laws 1961, p. 3308.)
(315 ILCS 30/36) (from Ch. 67 1/2, par. 91.136)
Sec. 36.
If any section, clause, sentence, paragraph, part or provision of
this Act shall be held to be invalid by any Court, it shall be conclusively
presumed that the remaining portions of this Act would have been passed by
the Legislature without such invalid section, clause, sentence, paragraph,
part or provision.
(Source: Laws 1961, p. 3308.)