2023 Illinois Compiled Statutes › Chapter 70 - SPECIAL DISTRICTS › 70 ILCS 15/ - Kankakee River Valley Area Airport Authority Act.

(70 ILCS 15/1) (from Ch. 15 1/2, par. 701)
Sec. 1. 
		Short title. 
		This Act shall be known as and may be cited as the
Kankakee River Valley Area Airport Authority Act.
(Source: P.A. 86-1400.)
(70 ILCS 15/2) (from Ch. 15 1/2, par. 702)
Sec. 2. 
		Definitions. 
		When used in this Act, unless a different meaning
clearly appears from the context:
(a) "Kankakee River Valley Area" means the counties of Kankakee and Will.
(b) "Authority" means the Kankakee River Valley Area Airport Authority.
(c) "Person" means any individual, firm, partnership, corporation, both
domestic and foreign, company, association or joint stock association, and
includes any trustee, receiver, assignee or personal representative
thereof.
(d) "Airport" means an area of land or water, the boundaries of which
shall be as designated by the Authority, which is designed for the landing
and takeoff of aircraft and all appurtenant areas of land used or suitable
for buildings, structures or other facilities necessary or appropriate for
the control and safe operation of aircraft, the sheltering, servicing or
repair of aircraft, the receiving, discharging, sheltering, feeding and
supplemental transportation of passengers, the parking of motor vehicles,
and the receipt, transfer, storage and discharge of cargo, or for any
purpose reasonably incident to any of the foregoing.
(e) "Authority airport" means any airport or airports acquired,
constructed, reconstructed, expanded, improved, leased or operated pursuant
to lease or other agreement by the Authority.
(f) "Related facilities" means any buildings, structures or other
facilities necessary or appropriate for the control and safe operation of
aircraft, the sheltering, servicing or repair of aircraft, the receiving,
discharging, sheltering, feeding and supplemental transportation of
passengers, the parking of motor vehicles, and the receipt, transfer,
storage and discharge of cargo, or for any purpose reasonably incident
thereto, located or to be located on an Authority airport and any aids to
navigation necessary for the operation of any Authority airport wherever
such aids are located, and any land on which any such aids are located.
(g) "Perimeter area" means any area of land or water within one mile of
the boundaries of an Authority airport as may be designated by the
Authority.
(h) "Perimeter area facilities" means buildings, structures or other
facilities necessary or appropriate for the control and safe operation of
aircraft, the sheltering, servicing or repair of aircraft, the receiving,
discharging, sheltering, feeding and supplemental transportation of
passengers, the parking of motor vehicles, and the receipt, transfer,
storage and discharge of cargo or for any purpose reasonably incident to
any of the foregoing, together with such residential, commercial and
industrial buildings, structures and facilities located within the
perimeter area, as shall be compatible with the safe and efficient
operation of the Authority airport and which may produce incidental income
available for the expenses of any Authority airport.
(Source: P.A. 86-1400.)
(70 ILCS 15/3) (from Ch. 15 1/2, par. 703)
Sec. 3. Purposes. It is hereby declared, as a matter of legislative
determination, that in order to promote the general welfare, to facilitate
safe and convenient air travel and transport to and from the Kankakee River
Valley Area, by the acquisition or construction and maintenance and
operation of one or more airports in the Kankakee River Valley Area, and to
promote the economic development of the area surrounding any such airport
in a manner compatible with the safe and efficient operation thereof, it is
necessary in the public interest, and is hereby declared to be a public
purpose, to provide for the establishment of a Kankakee River Valley Area
Airport Authority and to authorize such Authority:
(a) to acquire land for a new airport in the Kankakee River Valley Area
and to construct, operate and maintain such airport;
(b) to acquire land for such other airports at such locations within
the Kankakee River Valley Area as the Authority shall determine,
subject to a declaration of public interest enacted into law by the
General Assembly and to construct, operate and maintain any such
airports, and to acquire, by purchase, lease or otherwise, such other
existing airports within the Kankakee River Valley Area as the
Authority shall deem necessary and to improve, operate and maintain any
such airports;
(c) to acquire, by purchase, lease or otherwise, construct, operate
and maintain related facilities for any such airport and to let or grant
concessions or privileges in any such related facilities;
(d) to acquire land lying within the perimeter area of any such
airport; to construct, operate and maintain related facilities and
perimeter area facilities in the perimeter area of any such airport; and
to let or grant concessions or privileges in any part or all of the
perimeter area of any such airport and the perimeter area facilities
thereon;
(e) to exercise the right of eminent domain to acquire land for airports
at such locations within the Kankakee River Valley Area as the Authority
shall deem necessary in the manner provided for the exercise of the right
of eminent domain under the Eminent Domain Act.
(Source: P.A. 94-1055, eff. 1-1-07.)
(70 ILCS 15/3.5)
Sec. 3.5. Eminent domain. Notwithstanding any other provision of this Act, any power granted under this Act to acquire property by condemnation or eminent domain is subject to, and shall be exercised in accordance with, the Eminent Domain Act.
(Source: P.A. 94-1055, eff. 1-1-07.)
(70 ILCS 15/4) (from Ch. 15 1/2, par. 704)
Sec. 4. 
		Authority created; members. 
		There is created the Kankakee
River Valley Area Airport Authority, a body corporate and politic, to
consist of 8 members.  Four members shall be appointed by the Kankakee
County Board.  Four members shall be appointed by the Will County Board.
No person shall be appointed to the Authority who is an elected official of
the State of Illinois or any political subdivision thereof.
The terms of all members of the Authority shall begin 30 days after the
effective date of this Act.  Two members shall serve until the third Monday
in January 1993, 2 shall serve until the third Monday in January 1994,
2 shall serve until the third Monday in January 1995 and 2 shall serve
until the third Monday in January 1996.  All successors
shall be appointed by the original appointing authority and hold office for
a term of 5 years commencing the third Monday in January of the year in
which their term commences, except in the case of an appointment to fill a
vacancy.  Vacancies shall be filled for the remainder of the term.  Five
members of the Authority shall constitute a quorum.
Members, while serving on business of the Authority, shall receive
reimbursement for actual and necessary expenses incurred while so serving.
In addition, each member shall receive compensation of $150 per day for
each day served at regular or special meetings approved by the chairman,
except that such compensation shall not exceed $7,500 in any year for any
member.
Each member shall, before entering upon the duties of his office, take
and subscribe to the constitutional oath of office and give bond in the penal
sum of $100,000 conditioned upon the faithful performance of his duties.
The oath and bond shall be filed in the Office of the Secretary of State.
(Source: P.A. 86-1400.)
(70 ILCS 15/5) (from Ch. 15 1/2, par. 705)
Sec. 5. 
		Powers. 
		The Authority shall have the following powers:
(a) To acquire by purchase, lease or otherwise, for the purpose of
establishing and constructing a major airport facility and any other
airports declared by law to be in the public interest, any land or
interests therein, including the vacation of roads under the control of
any unit of local government, lying anywhere within the Kankakee River Valley
Area, any public waters of the State of Illinois lying
within such area or bordering thereon, any submerged land under such
public waters and any artificial or reclaimed land which before the
artificial making or reclamation thereof constituted a portion of such
submerged land under such public waters.
(b) To acquire by purchase, lease or otherwise any airport or
airports located within the Kankakee River Valley Area; and to assume
and pay, or guaranty the payment of, the principal and interest of any
bonds secured by any such airport or the income or revenues therefrom at
the time of acquisition thereof by the Authority, and to reconstruct,
expand, improve and maintain any such airport, provided that:
(1) the rentals payable on any lease of any such     airport shall be payable only from any part or all of the income and revenues derived from such airport, any other Authority airport or airports, any related facilities of any such airport, any perimeter area of any such airport, any perimeter area facilities of any such airport, or any other property owned by the Authority or any 2 or more of such sources, and the payment of such rentals may be secured by a pledge of any part or all of any such income or revenues;
(2) any such assumption or guaranty of the principal     and interest of any bonds secured by any such airport, the related facilities thereof, the perimeter area thereof or the perimeter area facilities shall be payable only from a pledge of the income and revenues of such airport, its related facilities, its perimeter area, its perimeter area facilities, any other Authority airport or airports and their respective related facilities, perimeter areas, perimeter area facilities, any other Authority property, or from the proceeds derived from the sale of bonds authorized to be issued by the Authority pursuant to Section 14 of this Act which are issued for the purpose of refunding any such bonds so assumed or guaranteed, or any 2 or more of the foregoing sources; and
(3) any such lease, assumption or guaranty shall     state on its face that it does not constitute a debt of the Authority or of the State of Illinois within the meaning of the Constitution and the statutes of the State of Illinois.
(c) To plan, establish, acquire by purchase, lease or otherwise,
construct, reconstruct, expand, improve and maintain related facilities
for any Authority airport.
(d) To acquire by purchase, lease or otherwise as the perimeter area
of any Authority airport any land lying within the Kankakee River Valley
Area, any public waters of the State of Illinois or
bordering thereon, any submerged land under such public waters and any
artificial or reclaimed land which before the artificial making or
reclamation thereof constituted a portion of such submerged land under
such public waters which lie within one mile of the boundaries of any
proposed or existing Authority airport, and to plan, establish,
construct, reconstruct, expand, improve and maintain on any such
perimeter area any perimeter area facilities which the Authority shall
deem necessary or appropriate.
(e) To enter into leases or agreements for the operation by the
Authority of any airport or airports located in the Kankakee River Valley
Area and any part or all of the related facilities,
perimeter areas and perimeter area facilities thereof.
(f) To require the removal or relocation of all buildings,
railroads, mains, pipes, conduits, wires, poles and other structures,
facilities and equipment which may interfere with the location,
operation, expansion or improvement of any proposed or existing
Authority airport or perimeter area or with the safe approach to any
such airport or takeoff from any such airport by aircraft; provided that,
whenever the Authority shall determine that it is necessary that any
such facilities be relocated or removed entirely from any present or
proposed Authority airport or perimeter area, the person owning or
operating such facilities shall relocate or remove the same in
accordance with the order of the Authority, and all costs and expenses
of such relocation or removal, including the cost of installing such
relocation or removal, including the cost of installing such facilities
in a new location or locations, and the cost of any land or lands, or
interest in land, or any other rights required to accomplish such
relocation or removal shall be ascertained and paid by the Authority as
a part of the cost of any such present or proposed Authority airport and
further, there shall be no rent, fee or other charge of any kind imposed
upon the person owning or operating any facilities ordered relocated on
the properties of the Authority and the Authority shall grant to the
person owning or operating the facilities and his successors and assigns
the right to operate the same in the new location or locations for as
long a period and upon the same terms and conditions as he had the right
to maintain and operate such facilities in their former location or
locations.
(g) To enter upon lands, waters and premises in the State for the
purpose of making surveys, soundings, drillings and examinations as may
be necessary, expedient or convenient for the purposes of this Act. No
such entry may be considered to be a trespass. The
Authority shall make reimbursement for any actual damage resulting to
such lands, waters and premises as the result of such activities.
(h) To acquire property by purchase to:
(1) Provide a site on which to replace or relocate     any structure which must be removed or demolished by reason of airport construction, expansion or land acquisition. The Authority may replace, restore and rehabilitate such site and structure in its entirety and may sell or exchange such a structure and the site on which it is located and may insert in any instrument or deed covering such sale or exchange, such covenants and agreements as will insure compliance with this Section, which covenants and agreements shall run with the land.
(2) Provide a site on which an owner may replace,     relocate, restore or rebuild any structure which must be removed or demolished by reason of airport construction, expansion or land acquisition. The Authority may exchange any easement, rights, lands or other property with the owner of the structure to be removed or demolished and may insert in any instrument or deed covering such exchange, such covenants and agreements as will insure compliance with this Section, which covenants and agreements shall run with the land.
(i) To police its property and to exercise police powers in respect
to that property and in respect to the enforcement of any rule or
regulation of the Authority, including the regulation of vehicular
traffic, and to contract for, employ and establish, maintain, and equip
a security force for fire and police protection of an Authority airport
and provide that the personnel of the security force shall perform other
tasks relating to the maintenance and operation of an Authority airport.
(j) To request, receive and expend federal, State, local and private
funds for the purpose of planning, development, construction and operation
of any airport within the Kankakee River Valley Area.
(k) To retain and set compensation of staff for the administration of
planning, development, construction or maintenance of any airport within
the Kankakee River Valley Area.
(l) To retain and set compensation of an Executive Director, who may
also be a member of the Authority.
(m) To contract with any department, board, commission, officer or
agency of federal or state government, its political subdivisions and
municipalities, corporations or with any private person, firm or
corporation in order to carry out the purposes of this Section.
(n) To appoint, by and with the consent of the Attorney General,
assistant attorneys for such Authority, each of which shall be under the
control, direction and supervision of the Attorney General and shall
serve at his pleasure.
(o) To retain special counsel, subject to the approval of the
Attorney General, as needed from time to time, and fix their
compensation. Such special counsel shall be subject to the control,
direction and supervision of the Attorney General and shall serve at his
pleasure.
(Source: P.A. 86-1400.)
(70 ILCS 15/6) (from Ch. 15 1/2, par. 706)
Sec. 6. 
		Attorney General; duties. 
		The Attorney General of the State of
Illinois shall be ex officio attorney for the Authority and shall be its
legal advisor and legal representative. In addition to the specific duties
imposed upon the Attorney General by this Act, he shall further act as
attorney for the Authority in all of its transactions and shall represent
the Authority in all of its litigation, and examine and approve all
contracts, leases, bonds or other undertakings or obligations entered into
by the Authority as to their form and constitutionality prior to their
execution and delivery.
(Source: P.A. 86-1400.)
(70 ILCS 15/7) (from Ch. 15 1/2, par. 707)
Sec. 7. 
		Operation, rents, charges. 
		The Authority shall have the following additional powers:
(a) To operate any Authority airport and to charge and collect rents,
rates, landing fees, concession fees or other compensation for any use
thereof or for any service rendered by the Authority in the operation
thereof pursuant to such contracts for such terms, not exceeding 40 years,
as the Authority shall determine, which terms may begin in futuro, provided
that, subject to the capacity and the safe and efficient operation thereof,
the landing field, landing strips, and services of any Authority airport
shall be available to any person without unjust or unreasonable
discrimination as to services and charges for landing and takeoff by any
aircraft.
(b) To let to any person, or to grant to any person concessions or
privileges in, any part of any Authority airport (other than the landing
field and landing strips) and any related facilities for the control and
safe operation of aircraft, the sheltering, servicing or repair of
aircraft, the receiving, discharging, sheltering, feeding and supplemental
transportation of passengers, the parking of motor vehicles, and the
receipt, transfer, storage and discharge of any cargo, or for any purpose
reasonably incident to any of the foregoing, provided that any leases and
any grants of concessions or privileges may be for such terms, not
exceeding 40 years, as the Authority shall determine and any such term may
begin in futuro.
(c) To let to any person any land located within the perimeter area of
any proposed or existing Authority airport for the purpose of enabling such
person to construct, reconstruct, expand, improve, maintain and operate
perimeter area facilities thereon and to let to any person or to grant to
any person concessions or privileges in any perimeter area facilities,
provided that any lease or grant of concessions or privileges made pursuant
hereto may be for such term, not exceeding 40 years, as the Authority shall
determine and any such term may begin in futuro.
(d) To regulate, to the extent not regulated by federal law or
regulations, the navigation of aircraft over any Authority airport and the
perimeter area of such airport, the approach of aircraft and their takeoff
from any Authority airport, and the use of any airport or related
facilities or perimeter area facilities so as to be consistent with the
safe and efficient operation of the airport.
(e) To let to any person any land located within the Authority airport
or its perimeter area for agricultural, residential, commercial or
recreational uses for such terms and on such conditions as the Authority
may determine.
(f) To exercise the powers granted in this Section with respect to any
Authority airport or airports acquired pursuant to the exercise of the
powers granted in Section 5 and with respect to the related facilities,
perimeter areas and perimeter area facilities of any such airports.
(Source: P.A. 86-1400.)
(70 ILCS 15/8) (from Ch. 15 1/2, par. 708)
Sec. 8. 
		Contracts; construction. 
		All contracts let for the construction of any work authorized to be done
under the provisions of this Act, where the amount thereof exceeds $5,000,
shall be let to the lowest responsible bidder or bidders on open,
competitive bidding after public advertisement made at least 15 days before
the opening of bids, in a newspaper of general circulation in a county in
which an Authority airport is located, in such manner and at such
intervals as may be prescribed by the Authority. The successful bidders
for such work shall enter into contracts furnished and prescribed by the
Authority. Such contracts shall contain a provision that such successful
bidder shall indemnify and save harmless the State of Illinois for any
accidental injuries or damages arising out of his negligence in the
performance of such contract, and shall, in addition, execute and give
bonds, payable to the Authority, with a corporate surety authorized to do
business under the laws of the State of Illinois, equal to at least 50% of
the contract price, one conditioned upon faithful performance of the
contract and the other for the payment of all labor furnished and materials
supplied in the prosecution of the contracted work.
(Source: P.A. 86-1400.)
(70 ILCS 15/9) (from Ch. 15 1/2, par. 709)
Sec. 9. 
		Contracts; services and supplies. 
		All contracts for services or supplies required from time to time by the
Authority in the acquisition, establishment, maintenance and operation of
any Authority airport under this Act or all direct
contracts for supplies to be used in the construction of any Authority
airport or part thereof to be awarded under this Section, rather than as a
part of a contract under Section 8, when the amount of any such supplies
or services exceeds $5,000 shall be let to the lowest responsible bidder or
bidders, on open, competitive bidding after public advertisement made at
least 5 days prior to the opening of bids, in a newspaper of general
circulation in a county in which an Authority airport is located, in such
manner and on one or more occasions as may be prescribed by the Authority.
Bidding is not required in any of the following cases:
(1) Where the goods or services to be procured are economically procurable
from only one source, such as contracts for telephone service, electric
energy and other public utility services, housekeeping services, books,
pamphlets and periodicals and specially designed business equipment.
(2) Where the services required are for professional, technical,
planning or artistic skills.
(3) Where the services required are for advertising, promotional or public
relations services.
(4) In emergencies, if an affidavit of the person or persons authorizing
the expenditure is filed with the Authority within 10
days after such an authorization, setting forth the conditions and
circumstances requiring the emergency purchase, the amount expended and the
name of the vendor or contractor involved. If, however, only an estimate is
available within the 10 days allowed for filing the affidavit, the actual
cost shall be reported immediately after it is determined.
(5) In case of expenditures for personal services.
(6) Contracts for equipment and spare parts in support thereof for the
maintenance and operation of any Authority airport, or any part thereof,
whenever the Authority, by resolution, determines that a particular make
and type of equipment is required for efficient maintenance and operation
and proper servicing, for uniformity in and integration with the spare
parts program and inventory control or for other reasons peculiar to the
problems of the Authority airport or its previously acquired equipment.
However, competition and competitive bids must be obtained by the Authority
with respect to such specified equipment or spare parts, insofar as
possible.
(7) Contracts for insurance, fidelity and surety bonds.
(Source: P.A. 86-1400.)
(70 ILCS 15/10) (from Ch. 15 1/2, par. 710)
Sec. 10. 
		
		Solicitation for bids under Section 9 must
conform to accepted business practices, and the method of
solicitation must be set out in detail in the rules and
regulations of the Authority. Proposals pursuant to public
advertisement must be publicly opened at the day and hour and
at the place specified in the solicitation for such bids.
Successful bidders for such services and supplies shall enter
into contracts furnished and prescribed by the Authority.
(Source: P.A. 86-1400.)
(70 ILCS 15/11) (from Ch. 15 1/2, par. 711)
Sec. 11. 
		
		(a) All purchases, contracts or other obligations or expenditures
of funds by the Authority must be in accordance with rules and regulations
governing the Authority's procurement practice and procedures. The Authority
shall promulgate and publish such practices and procedures in sufficient
number for distribution to persons interested in bidding on purchases or
contracts to be let by the Authority. Such rules and regulations shall be
kept on file with the Secretary of the Authority at all times and shall
be available for inspection by members of the public at all reasonable
times and hours.
Such rules and regulations shall be filed and become effective as
provided in The Illinois Administrative Procedure Act.
(b) Any contract entered into for purchase or expenditure of funds of the
Authority made in violation of this Act, or of any rule or regulation
promulgated in pursuance thereof, is void.
(c) All sellers to the Authority shall attach to the delivery invoice a
statement attesting that the standards set forth in the contracts have been
met. The statement must be substantially in the following form:
"The Seller, .... hereby certifies that the goods, merchandise and wares
shipped in accordance with the attached delivery invoice have met all the
required standards set forth in the purchasing contract.
.... (Seller)"
(Source: P.A. 86-1400.)
(70 ILCS 15/12) (from Ch. 15 1/2, par. 712)
Sec. 12. 
		
		Whoever violates any of Sections 9 through 11, or the rules and
regulations adopted pursuant thereto, is guilty of a Class A misdemeanor.
(Source: P.A. 86-1400.)
(70 ILCS 15/13) (from Ch. 15 1/2, par. 713)
Sec. 13. 
		
		Purchases made pursuant to this Act shall be made in
compliance with the Local Government Prompt Payment Act.
(Source: P.A. 86-1400.)
(70 ILCS 15/14) (from Ch. 15 1/2, par. 714)
Sec. 14. 
		Issuance of revenue bonds. 
		The Authority shall have the power
from time to time to issue bonds in anticipation of its income and revenues
from any one or more Authority airports, related facilities, perimeter
areas, and perimeter area facilities to accomplish any of the purposes of
this Act, and to refund such bonds or any bonds assumed or guaranteed
pursuant to paragraphs (2) and (3) of subsection (b) of Section 5. Such
bonds may be authorized by resolution and may be issued in one or more
series, may bear such dates, mature at such time or times not exceeding 40
years from their respective dates, bear interest
payable semi-annually, be in such form, be executed in such manner,
including the use of facsimile signatures and seals, be payable in such
medium of payment, at such places, be subject to such terms of redemption,
with or without premium, and may be made registrable as to principal or as
to both principal and interest, as the Authority by resolution may provide.
Any bonds issued hereunder may be issued in denominations of $100 or any
multiple thereof. The Authority may provide for the exchange of any such
bonds after issuance for bonds of larger or smaller denominations in such
manner as may be provided in the authorizing resolution, provided the bonds
in changed denominations shall be exchanged for the original bonds in like
aggregate principal amounts and in such manner that no overlapping interest
is paid, and such bonds in changed denominations shall bear interest at the
same rate or rates, shall mature on the same date or dates, shall be as
nearly as practicable in the same form except for an appropriate recital as
to the exchange, and shall in all other respects except as to denominations
and numbers, be identical with the original bonds surrendered for exchange.
Where any exchange is made pursuant to this Section, the bonds surrendered
by the holders at the time of exchange shall be cancelled, any such
exchange shall be made only at the request of the holders of the bonds to
be surrendered, and the Authority may require all expenses incurred in
connection with such exchange, including the authorization and issuance of
the new bonds, to be paid by such holders. The bonds shall have all the
qualities of negotiable paper within the meaning of such term of
the Uniform Commercial Code, as now or hereafter amended, except that any
bonds issued pursuant hereto shall not be subject to Article 9 of said Code.
Pending the preparation or execution of definitive bonds, temporary receipts,
certificates or bonds may be delivered to the purchasers or pledgees of
these bonds. No holder of any bond issued under this Section shall ever
have the right to compel any exercise of the taxing power of the State of
Illinois or any political subdivision thereof to pay the bond or the
interest thereon. Each bond issued under this Section shall recite in
substance that the bond, including the interest thereon, is payable solely
from the revenue pledged to the payment thereof or from any bonds issued
for the purpose of refunding such bond, and that the bond does not
constitute a debt of the Authority or of the State of Illinois within any
statutory or constitutional limitation of the State of Illinois.
Such bonds shall be executed by such officers of the Authority as shall
be designated by the Authority, and shall be registered by the State
Treasurer. Any bonds bearing the signature
of officers in office at the date of signing thereof shall be valid and
binding for all purposes, notwithstanding that before delivery thereof any
or all such persons whose signatures appear thereon shall have ceased to be
such officers.
The Authority may provide for the issuance of refunding bonds if the
bonds to be refunded are due or callable or redeemable by their terms on or
prior to the date that the refunding bonds are issued, or will become due,
callable or redeemable by their terms within 12 months after the date of
issue of the refunding bonds, or if the bonds to be refunded, even though
not becoming due, callable, or redeemable within such period are
voluntarily surrendered by the holders thereof for cancellation at the time
of the issuance of the refunding bonds. All or part of any issue may be so
refunded and all parts of several issues may be refunded into a single
issue of refunding bonds. Provision may be made for including with the
refunding bonds, as part of a single issue, bonds of the Authority for any
other purpose or purposes for which bonds are herein authorized to be
issued. Refunding bonds may be exchanged for not less than a like principal
amount of the bonds authorized to be refunded, may be sold or may be
exchanged in part and sold in part.
(Source: P.A. 86-1400.)
(70 ILCS 15/15) (from Ch. 15 1/2, par. 715)
Sec. 15. 
		Resolution for bonds. 
		The Authority, if it desires to issue bonds pursuant to Section 14 of
this Act, shall adopt a resolution describing in a general way the airport
or airports, the related facility or facilities, the perimeter area or
areas, and perimeter area facility or facilities to be acquired,
established, constructed, reconstructed, expanded, or improved and refer to
the plans and specifications therefor prepared for that purpose, or if
refunding bonds, describing the bonds or other obligations to be refunded,
or both. Any such resolution shall set out the estimated cost therefor, or
in the case of refunding bonds, the amount of the bonds to be refunded, and
shall fix the maximum amount of revenue bonds proposed to be issued
therefor. This amount shall not exceed the estimated cost thereof,
including engineering, legal, and other expenses together with interest
cost to a date 6 months subsequent to the estimated date of completion, or,
in the case of refunding bonds, the principal amount of the bonds to be
refunded and legal and other expenses, and such other sums as in the
discretion of the Authority may be desirable to create a reserve fund
sufficient to pay the maximum amount of principal and interest estimated to
fall due on the bonds in any future 12 month period. Such resolution may
contain such covenants, which shall be part of the contract between the
Authority and the holder of the bonds and the Trustee, if any, for such
bondholders having such rights and duties as may be provided therein for
the enforcement and protection of such covenants, as may be deemed
necessary or advisable as to:
(1) the issuance of additional bonds that may thereafter be issued
payable from the income and revenues derived from the operation of any such
airport or airports, related facility or facilities, perimeter area or
areas and perimeter area facility or facilities and for the payment of the
principal and interest upon such bonds;
(2) the regulations as to the use of any such airport or airports,
related facility or facilities, perimeter area or areas and perimeter area
facility or facilities to assure the maximum use or occupancy thereof;
(3) the kind and amount of insurance to be carried, including use and
occupancy insurance, the cost of which shall be payable only from the
income and revenues derived from such airport or airports, related facility
or facilities, perimeter area or areas and perimeter area facility or
facilities;
(4) the operation, maintenance, management, accounting and auditing,
employment of airport engineers and consultants and the keeping of records,
reports and audits of any such airport or airports, related facility or
facilities, perimeter area or areas and perimeter area facility or
facilities;
(5) the obligation of the Authority to maintain the airport or airports,
related facility or facilities, perimeter area or areas and perimeter area
facility or facilities in good condition and to operate the same in an
economical and efficient manner;
(6) provide for setting aside of sinking funds, reserve funds,
depreciation funds and such other special funds as may be found needful and
the regulation and disposition thereof;
(7) provide for the setting aside of a sinking fund, into which shall be
payable from the income and revenues of such airport or airports, related
facility or facilities, perimeter area or areas and perimeter area facility
or facilities from month to month, as such income and revenues are
collected, such sums as will be sufficient to pay the accruing interest and
retire the bonds at maturity;
(8) fix and collect rents, rates of toll and other charges for the use
of such airport or airports, related facility or facilities, perimeter area
or areas and perimeter area facility or facilities, sufficient, together
with other available money, to produce income and revenues adequate to pay
the bonds at maturity and accruing interest and reserves therefor and
sufficient to pay cost of maintenance, operation and depreciation thereof
in such order of priority as shall be provided by the resolution
authorizing the bonds;
(9) fix procedures by which the terms of any contract with the holders
of the bonds may be amended, the amount of bonds the holders of which must
consent thereto, and the manner in which such consent may be given;
(10) provide the procedure for refunding such bonds;
(11) provide whether and to what extent and upon what terms and
conditions, if any, the holder of bonds or coupons issued under such
resolution or the Trustee, if any, therefor may, by civil action, mandamus,
injunction or other proceeding, enforce or compel
the performance of all duties required by Sections 14 and 15
inclusive, including the fixing, maintaining and collecting of such rents,
rates or other charges for the use of such airport or airports, related
facility or facilities, perimeter areas and perimeter area facilities or
for any service rendered by the Authority in the operation thereof as will
be sufficient, together with other available money, to pay the principal of
and interest upon these revenue bonds as the same become due and reserves
therefor and sufficient to pay the cost of maintenance, operation and
depreciation of the airport or airports, related facility or facilities,
perimeter areas and perimeter area facilities in the order of priority as
provided in the resolution authorizing the bonds, and the application of
the income and revenues thereof; and
(12) such other covenants as may be deemed necessary or desirable to
assure a successful and profitable operation of the airport or airports,
related facility or facilities, perimeter area or areas and perimeter area
facility or facilities and prompt payment of the principal
and interest upon the bonds so authorized.
(Source: P.A. 86-1400.)
(70 ILCS 15/16) (from Ch. 15 1/2, par. 716)
Sec. 16. 
		Use of income and revenues received.
(a) Whenever revenue bonds are issued and outstanding under Sections 14
and 15, all of the income and revenues received from the
operation of the airport or airports, related facility or facilities,
perimeter area or areas and perimeter area facility or facilities pledged
to secure the payment of the interest and principal of such bonds shall be
paid to the State Treasurer and deposited in a separate fund, to be
designated the Kankakee River Valley Area Airport Authority Bond Retirement
and Interest Fund, of which the State Treasurer shall be ex officio
custodian and which shall be used only in paying the principal and interest
of these revenue bonds and reserves therefor and the cost of rental,
maintenance, operation and depreciation of such airport or airports,
related facility or facilities, perimeter area or areas and perimeter area
facility or facilities to such extent and in such order of priority as
shall be provided by the respective resolutions authorizing revenue bonds.
No priority accorded by such a resolution may be impaired by a subsequent
resolution authorizing revenue bonds unless specifically so permitted by a
covenant of the kind authorized to be included in a resolution by Section 15.
(b) The Fund shall be held, invested and disbursed for the purposes provided
in this Section, upon the order of the Authority and in accordance with
provisions and covenants of any bond resolution authorizing the issuance of
bonds. The interest accruing on the Fund shall be computed and added to
the principal thereof every 6 months.
(c) In addition to the special audits prescribed by this Act, the Fund shall
also be subject to audit in the same manner as
provided for the audit of State funds and accounts.
(d) The Fund shall be protected by a corporate surety bond, executed by the
Treasurer, with a surety authorized to do business under the laws of the
State of Illinois, in an amount to be fixed by resolution of the Authority
and approved by the Governor, which amount may be increased or diminished
at any time. The premiums on that bond are payable from the funds of the
Authority. The bond shall be subject to the approval of the Governor and
Attorney General of the State of Illinois, and, when so approved, shall be
filed in the office of the Secretary of State.
(e) The Fund shall be considered always appropriated for the purposes of
disbursements as provided in this Act, and shall be paid out and disbursed
only as provided in this Act and may not, at any time, be appropriated or
diverted to any other use or purpose.
(f) Such income and revenues in excess of requirements for payment of
principal of and interest upon these bonds and reserves therefor and for
payment of cost of maintenance, operation and depreciation of the airport
or airports, related facility or facilities, perimeter area or areas and
perimeter area facility or facilities may be used for rehabilitation,
reconstruction and expansion of existing airports, related facilities,
perimeter areas and perimeter area facilities, or for retirement of any
outstanding bonds issued for airport purposes. After all such bonds have
been paid, such income and revenues may be transferred to the general
corporate fund of the Authority and be used for the maintenance, operation,
repair and development of such airport or airports, related facility or
facilities, perimeter area or areas, and perimeter area facility or
facilities, or for any corporate purpose.
(Source: P.A. 86-1400.)
(70 ILCS 15/17) (from Ch. 15 1/2, par. 717)
Sec. 17. 
		Miscellaneous powers. 
		The Authority shall possess the power to:
(1) Enter into contracts regarding any matter connected with any purpose
within the objects and purposes of this Act.
(2) Employ agents and employees necessary to carry out the duties and
purposes of the Authority.
(3) Adopt all necessary bylaws, rules and regulations for the conduct
of the business and affairs of the Authority, and for the management and
use of facilities and sites acquired under the powers granted by this Act.
(4) Have and use a common seal and alter the same at pleasure.
(5) Secure grants or loans, or both, from the United States government,
or any agency thereof, for financing the planning, establishment,
construction and operation of any airport, related facility, perimeter area
or perimeter area facility or any part of any of the foregoing authorized
by this Act. For such purposes the Authority may issue and sell or pledge
to the United States government, or any agency thereof, all or any part of
the revenue bonds authorized under Sections 14, 15 and 16 of this Act, and
execute contracts and documents and do all things that may be required by
the United States government, or any agency thereof, provided that such
contracts and documents do not conflict with the provisions of any
resolution authorizing and securing the payment of outstanding bonds of the
Authority theretofore issued that are payable from the revenues derived
from the operation of any Authority airport, related facility, perimeter
area or perimeter area facility.
(Source: P.A. 86-1400.)
(70 ILCS 15/18) (from Ch. 15 1/2, par. 718)
Sec. 18. 
		
		(a)
The Authority shall file with the Governor, by November 15 of each
year, a written statement and report covering its activities for the
preceding fiscal year.
(b) The Auditor General of the State of Illinois, shall annually audit or
cause to be audited the books and records of the Authority, and shall file
a certified copy of the report of such audit with the Governor and with the
Legislative Audit Commission.  The audit reports, when so filed, shall be
open to the public for inspection.
(Source: P.A. 86-1400.)
(70 ILCS 15/19) (from Ch. 15 1/2, par. 719)
Sec. 19. 
		Exemption from taxation. 
		All property, real, personal or mixed, owned by the Authority,
which is located in the State of Illinois is exempt from taxation under the
laws of the State of Illinois, to the extent that such property is used for
public purposes, including uses directly related to the operation and
maintenance of air transportation facilities and equipment.
(Source: P.A. 86-1400.)
(70 ILCS 15/20) (from Ch. 15 1/2, par. 720)
Sec. 20. 
		No State obligation. 
		Nothing in this Act shall be construed
to authorize the Authority to create an obligation of the State of Illinois
or the Authority within the meaning of the Constitution of the State of
Illinois.
(Source: P.A. 86-1400.)
(70 ILCS 15/21) (from Ch. 15 1/2, par. 721)
Sec. 21. 
		Bonds; legal investment status.
(a) 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, savings and
loan associations, investment companies, insurance companies and
associations, 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 issued by the
Kankakee River Valley Area Airport Authority pursuant to this Act.
(b) 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, savings and loan
associations, investment companies, insurance companies and associations,
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 issued by the
Kankakee River Valley Area Airport Authority pursuant to any
agreement or compact entered into by the Authority pursuant to this Act.
(Source: P.A. 86-1400.)
(70 ILCS 15/22) (from Ch. 15 1/2, par. 722)
Sec. 22. 
		Subject to Illinois Aeronautics Act. 
		This Act is subject to the
provisions of the Illinois Aeronautics Act.
(Source: P.A. 86-1400.)