(605 ILCS 5/Art. 10 Div. 8 heading)
DIVISION 8.
MUNICIPAL BRIDGES OVER RIVER FORMING STATE BOUNDARY
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(605 ILCS 5/10-801) (from Ch. 121, par. 10-801)
Sec. 10-801.
In this Division of this Article, unless the context otherwise
requires:
(1) "Bridge" means any bridge over any river forming a boundary of this
State carrying highway, rail or other traffic, or any deck, level or part
of such bridge whether or not the entire bridge is owned or to be owned by
the municipality, and all property, rights-of-way, easements, approaches,
and franchises in connection therewith, and may mean two or more of such
bridges, decks, levels or parts thereof;
(2) "Net revenue means the gross revenue of a bridge less the reasonable
cost of operating, maintaining, and repairing the bridge;
(3) "United States" means the United States of America and any agent,
agency, department, bureau, commission or authority thereof of whatsoever
kind;
(4) "Holder" means the holder or holders of any of the bonds issued
under the authority of this Division of this Article.
(Source: Laws 1961, p. 2575.)
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(605 ILCS 5/10-802) (from Ch. 121, par. 10-802)
Sec. 10-802. Each municipality has the power:
(1) To acquire, by purchase or otherwise, construct,
| | reconstruct, improve, enlarge, better, operate, maintain and repair any bridge within the corporate limits or within 5 miles of the corporate limits of the municipality;
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(2) To acquire, purchase, hold, use, lease, mortgage,
| | sell, transfer and dispose of any property, real or personal or mixed, tangible or intangible, or any interest therein, in connection with such a bridge, including the power and authority to grant perpetual easements or franchises to any railroad or public transportation facility or any assignee thereof, as a part of the consideration of the purchase of any such bridge, for the exclusive right to the use of a portion or portions of any such bridge for the transportation of persons or property across such bridge;
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(3) To fix, alter, charge, collect, segregate, and
| | apply tolls and other charges for transit over and use of such a bridge, provided that, if electronic toll collection is used on such bridge or ferry, the municipality shall configure the electronic toll collection system to be compatible with the electronic toll collection system used by the Illinois State Toll Highway Authority;
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(4) To borrow money, make and issue bonds payable
| | from and secured by a pledge of the net revenue of the bridge for the acquisition, construction, reconstruction, improvement, enlargement, betterment or repair of which such bonds may be issued;
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(5) To cooperate with any adjoining state, or any
| | political subdivision, agency, department, bureau, commission or authority thereof, of whatsoever kind, in the acquisition, construction, reconstruction, improvement, enlargement, betterment, operation, maintenance and repair of any bridge, and in defraying the cost thereof;
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(6) To make contracts of every kind and nature and to
| | execute all instruments necessary or convenient for the carrying out of the purposes of this Division of this Article;
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(7) Without limitation of the foregoing, to borrow
| | money and to accept grants from the United States or any person, and to enter into contracts with the United States and such person in connection therewith;
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(7.5) To enter into intergovernmental agreements with
| | the Illinois State Toll Highway Authority to provide for the compatibility of electronic toll collection services or to have the Authority provide electronic toll collection or toll violation enforcement services; and
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| (8) To alter, widen, lay out, open or construct any
| | streets, avenues or boulevards within or without any municipality deemed necessary to provide adequate traffic regulation and approach or approaches to such bridge or bridges, and to borrow money and issue bonds for such purpose as provided by this Division of this Article.
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(Source: P.A. 97-252, eff. 8-4-11.)
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(605 ILCS 5/10-803) (from Ch. 121, par. 10-803)
Sec. 10-803.
Without limiting any other powers granted in this Division of
this Article, each municipality has the power to provide for the payment of
the cost of acquiring, constructing, reconstructing, improving, enlarging,
bettering or repairing any bridge or for the payment of any portion of such
cost by one or more issues of revenue bonds of the municipality, payable
solely from the net revenue of such bridge. These bonds shall be authorized
by ordinance of the corporate authorities of the municipality and shall be
in substantially the form set forth in the ordinance. The bonds may be
serial or term; redeemable, with or without premium, or non-redeemable;
shall 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,
payable at such times as may be provided; shall mature at such times not
exceeding the life of the bridge, for the acquisition, construction,
reconstruction, improvement, enlargement, betterment or repair of which
they are issued, as estimated by the corporate authorities, but in no event
exceeding 40 years; and shall be issued in such amounts and payable at such
place or places, within or without the State, as shall be prescribed in the
ordinance authorizing their issuance. The bonds of any issue may be
delivered in such installments from time to time, and at such place or
places, within or without the State, as the corporate authorities may, by
resolution, determine.
The bonds shall be signed by such officer or officers as the corporate
authorities shall determine, and coupon bonds shall have attached thereto
interest coupons bearing the facsimile signatures of such officer or
officers as the corporate authorities shall determine, in the ordinance
authorizing the bonds. The signature of only one of the officers signing
the bonds need be a manual signature, and the signature of any other
officers signing the bonds may be facsimile signatures. A facsimile of the
seal of the municipality may be imprinted on the bonds. The bonds may be
issued and delivered notwithstanding the fact that an officer signing the
bonds or whose facsimile signature appears upon any of the bonds or coupons
has ceased to hold his office at the time that the bonds are actually
delivered, and notwithstanding the fact that an officer whose facsimile
signature appears upon the bonds or coupons has ceased to hold his office
at the time that the bonds are manually signed by the officer or officers
required to sign the bonds manually.
The bonds of the municipality may be sold in such manner, at such times,
and at such prices as the corporate authorities may determine, but no sale
shall be made at a price which would make the interest cost to maturity on
the money received therefor computed with relation to the absolute maturity
of the bonds in accordance with standard tables of bond values, exceed 6%
annually. The principal of and interest upon the bonds shall be payable
solely from the net revenue derived from the operation of the bridge
acquired, constructed, reconstructed, improved, enlarged, bettered or
repaired with the proceeds of the sale of the bonds. No bond issued
pursuant to this Division of this Article shall constitute an indebtedness
of a municipality within the meaning of any constitutional, statutory or
charter limitation. It shall be plainly stated on the face of each bond in
substance that the bond has been issued under the provisions of this
Division of this Article and that the taxing power and general credit of
the municipality issuing the bond are not pledged to the payment of the
bond, or interest thereon, and that the bond and the interest thereon are
payable solely from the net revenue of the bridge to acquire, construct,
reconstruct, improve, enlarge, better or repair which the bond is issued.
The cost of the acquisition, construction, reconstruction, improvement,
enlargement, betterment or repair of any bridge shall include debt service
reserves to secure the payment of bonds issued therefor under this Division
of this Article, interest during the period, as estimated by the corporate
authorities, of such construction, reconstruction, improvement,
enlargement, betterment or repair and for not exceeding 12 months
thereafter, and also all engineering, legal, architectural, traffic
surveying and other expenses incident to such acquisition, construction,
reconstruction, improvement, enlargement, betterment or repair and incident
to the acquisition of any and all necessary property in connection
therewith and also incident to the financing thereof, including the cost of
acquiring existing franchises, easements, rights, plans, and works of and
relating to the bridge. If the proceeds of the bonds issued shall exceed
the cost as finally determined, the excess shall be applied to the payment,
purchase or redemption of the bonds. Bonds and interest coupons issued
under this Division of this Article shall possess all the qualities of
negotiable instruments. Such bonds shall be legal investments for trustees
and other fiduciaries, and for savings banks, trust companies, and
insurance companies organized under the laws of the State of Illinois.
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.)
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(605 ILCS 5/10-804) (from Ch. 121, par. 10-804)
Sec. 10-804.
An ordinance authorizing bonds under this Division of this
Article may contain provisions, which shall be part of the contract with
the holders of the bonds, as to (1) the dates, maturities, denominations,
rate of interest, places and medium of payment of the bonds and other
details in connection with the bonds or their issuance, (2) the rates of
tolls and other charges to be charged by the municipality for transit over
or use of the bridge, and their segregation and application, (3) the
registration of the bonds as to principal only or as to both principal and
interest, and the interchangeability and exchangeability of the bonds, (4)
the redemption of the bonds, and the price at which they are redeemable,
(5) the setting aside of reserves or sinking funds and the regulation and
disposition thereof, (6) limitations upon the issuance of additional bonds
payable from the revenue of the bridge or upon the rights of the holders of
these additional bonds, and (7) other agreements with the holders of the
bonds or covenants or restrictions necessary or desirable to safeguard the
interests of these holders.
After the passage of an ordinance providing for the issuance of the
revenue bonds under this Division of this Article, the ordinance shall be
published in the same manner and form as is required for other ordinances
of the municipality. The ordinance shall become effective 10 days after
publication.
(Source: Laws 1959, p. 196.)
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(605 ILCS 5/10-805) (from Ch. 121, par. 10-805)
Sec. 10-805.
The municipality shall fix rates of toll to be charged for
transit over and use of such a bridge. These rates shall be so fixed,
charged, and adjusted as to provide revenue at all times sufficient (1) to
pay the reasonable cost of maintaining (including insurance), operating and
repairing the bridge; (2) to provide a sinking fund and reserves sufficient
to pay the principal of and interest on the bonds out of the revenue from
the bridge, as the bonds mature and fall due; (3) to pay the redemption or
repurchase price of all bonds redeemed or repurchased before maturity as
provided in this Division of this Article; and (4) to fulfill the terms and
provisions of any agreement with holders of the bonds.
An accurate record of the cost of each bridge, the expenditures for
maintaining, operating, and repairing the bridge, and of the daily tolls
collected, shall be kept and shall be available for the information of all
persons interested. The municipality shall classify in a reasonable way all
traffic over the bridge, and the tolls shall be fixed and adjusted by it as
to be uniform in their application to all traffic falling within any such
reasonable class.
The municipality shall operate the bridge as a toll bridge and after all
the covenants contained in the ordinance authorizing the issuance of any
revenue bonds have been complied with annually and there be any surplus
revenues remaining such surplus may be appropriated by such municipality
for any proper corporate purpose, or pledged for the payment of any revenue
bonds issued under this Division of this Article by the municipality for
the construction or acquisition of any other bridge or bridges. After all
bonds payable out of the revenues thereof have been paid in full, the
municipality may continue to operate such bridge as a toll bridge and rates
shall be fixed, charged and adjusted so as to produce revenue annually in
an amount not to exceed 5% of the cost of the bridge as shown by the
records of the municipality required to be kept as in this Division of this
Article provided. The revenues thus produced shall be used to maintain,
operate and repair such bridge, provided any surplus remaining after
properly setting aside sums for maintenance, operation and repair of the
bridge may be appropriated for any corporate purpose or pledged for the
payment of any revenue bonds issued under this Division of this Article by
the municipality for the construction or acquisition of any other bridge or
bridges.
(Source: Laws 1959, p. 196.)
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(605 ILCS 5/10-806) (from Ch. 121, par. 10-806)
Sec. 10-806.
Any municipality may by ordinance authorize the issue of
refunding revenue bonds under this Division of this Article payable solely
from the net revenue of one or more bridges to refund the principal,
premium, if any, and accrued interest of any one or more issues of its
outstanding revenue bonds issued under the provisions of this Division of
this Article and which by their terms are payable solely from the revenue
of any bridge or bridges, such refunding to be made at or after maturity or
prior to maturity with the consent of the holders thereof, provided that
such consent shall not be required if such bonds are subject to redemption
prior to maturity, and any such refunding revenue bonds may bear interest
at 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,
payable at such
times as may be
provided by the ordinance authorizing the issue thereof. All of the
provisions of this Division of this Article with respect to the form,
maturities and other details of bonds and the security therefor and
covenants with respect thereto shall be applicable to such refunding bonds,
and such refunding bonds may be consolidated with and be a part of an issue
of revenue bonds issued pursuant to the provisions of this Division of this
Article for the payment of the cost of acquiring, constructing,
reconstructing, improving, enlarging, bettering or repairing any bridge or
for the payment of any portion of such cost. Any ordinance authorizing such
refunding revenue bonds may contain such covenants and restrictions upon
the issuance of additional revenue bonds as may be deemed necessary or
advisable for the assurance of the payment of the revenue bonds thereby
authorized.
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.)
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(605 ILCS 5/10-807) (from Ch. 121, par. 10-807)
Sec. 10-807.
The holder of any bond or interest coupon may, by mandamus,
injunction, civil action or proceeding, enforce and compel performance of
all duties of the issuing municipality as required by this Division of this
Article and the ordinance authorizing the issuance of the bonds, including
the duties of fixing sufficient tolls and charges and the collection,
segregation, and application of the revenue derived from the operation of
the bridge. In case of default, a receiver may be appointed by a judge of
the circuit court to take possession of, operate, and maintain the
bridge, charge and collect tolls, and segregate and apply the money
received in accordance with the ordinance relating thereto.
(Source: P.A. 84-1308.)
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(605 ILCS 5/10-808) (from Ch. 121, par. 10-808)
Sec. 10-808.
Revenue bonds may be issued under this Division of this
Article without submitting the proposition of the approval of the ordinance
or the question of the issuance of the bonds to the electors of the
municipality.
(Source: Laws 1959, p. 196.)
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(605 ILCS 5/10-809) (from Ch. 121, par. 10-809)
Sec. 10-809.
All proceedings heretofore taken by any municipality under
this or any prior Act for the acquisition, construction, reconstruction,
improvement, enlargement, betterment or repair of any bridge over any river
forming a boundary of this State, and all revenue bonds issued by any
municipality for the financing of the acquisition, construction,
reconstruction, improvement, enlargement, betterment or repair thereof are
hereby ratified, validated and confirmed.
(Source: Laws 1961, p. 2575.)
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