Introduced
by
To modify the bonding authority of the urban cooperation act so as to conform to changes made to the municipal finance act by Senate Bill 29, now Public Act 34 of 2001. That bill made important changes to the procedures, requirements, and restrictions imposed on borrowing and debt issuance by local units of government and governmental authorities. For more information on those changes see the description of <a href="/bill.asp?ID=4790">Senate Bill 29</a>. This is one of more than 100 House and Senate bills amending different public acts to conform with the new law.
Referred to the Committee on Finance
Substitute offered
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Substitute offered
by
To replace the previous version of the bill with one which adds specific bonding authorization for entities created by interlocal agreements between local governments (for example, to jointly provide some service), caps the indebtedness of such entities at two mills, and specifies that the debt belongs to the entity itself, not to the constituent local governments.
The substitute passed by voice vote
Passed in the Senate 33 to 0 (details)
To modify the bonding authority of the urban cooperation act so as to conform to changes made to the municipal finance act by Senate Bill 29, now Public Act 34 of 2001. That bill made important changes to the procedures, requirements, and restrictions imposed on borrowing and debt issuance by local units of government and governmental authorities. For more information on those changes see the description of Senate Bill 29. This is one of more than 100 House and Senate bills amending different public acts to conform with the new law. Senate Bill 859 also adds specific bonding authorization for entities created by interlocal agreements between local governments (for example, to jointly provide some service), caps the indebtedness of such entities at two mills, and specifies that the debt belongs to the entity itself, not to the constituent local governments.
Substitute offered
by
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 101 to 0 (details)
To modify the bonding authority of the urban cooperation act so as to conform to changes made to the municipal finance act by Senate Bill 29, now Public Act 34 of 2001. That bill made important changes to the procedures, requirements, and restrictions imposed on borrowing and debt issuance by local units of government and governmental authorities. For more information on those changes see the description of Senate Bill 29. This is one of more than 100 House and Senate bills amending different public acts to conform with the new law. Senate Bill 859 also adds specific bonding authorization for entities created by interlocal agreements between local governments (for example, to jointly provide some service), caps the indebtedness of such entities at two mills, and specifies that the debt belongs to the entity itself, not to the constituent local governments.
Passed in the Senate 36 to 0 (details)
To concur with the House-passed version of the bill.
