Bill Text: IL SB0688 | 2023-2024 | 103rd General Assembly | Engrossed

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Bill Title: Creates the Cairo Development Authority Act. Creates the Cairo Development Authority for the purpose of facilitating and promoting the redevelopment of certain property in Cairo and the surrounding areas. Provides that the jurisdiction of the Authority extends over Alexander County. Provides that the Authority is governed by a 5-member Board of Directors. Sets forth the powers and responsibilities of the Authority, including the power to acquire, own, lease, sell, and dispose of real property and, under the supervision of the Illinois Finance Authority, the power to issue revenue bonds. Contains other provisions. Amends the Illinois Finance Authority Act. Provides that all bond issuances of the Cairo Development Authority are subject to supervision, management, control, and approval of the Illinois Finance Authority. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Engrossed) 2023-10-27 - Alternate Chief Sponsor Changed to Rep. Jay Hoffman [SB0688 Detail]

Download: Illinois-2023-SB0688-Engrossed.html

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AN ACT concerning local government.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 1. Short title. This Act may be cited as the Cairo
Development Authority Act.
Section 5. Purpose. The purpose of this Act is to
facilitate and promote the redevelopment of vacant and
underutilized commercial, industrial, and residential real
property located throughout the City of Cairo and its
surrounding areas, and to enhance the economic benefits
generated by the former uses of the property with development
that will attract new residences, senior and student housing,
and commercial and industrial businesses, as well as to create
new opportunities for economic development, sustainable
initiatives, and affordable housing and employment for
residents in the community.
Section 10. Definitions. As used in this Act:
"Authority" means the Cairo Development Authority created
by this Act.
"Board" means the Board of Directors of the Authority.
"Costs" means: the cost of purchase and construction of
all lands and related improvements, together with the

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equipment and other property, rights, easements, and
franchises acquired that are deemed necessary for the
construction; the costs of environmental and other property
and project related suits, studies, and analyses and
subsequent clean-up activities necessary to qualify the area
as needing no further remediation or pipe replacement or new
installation; financing and title insurance and deed recording
charges, delinquent property taxes; trust and or interest
costs with respect to revenue bonds, notes, and other
evidences of indebtedness of the Authority prior to and during
construction and for a period of 60 months after construction;
engineering and legal expenses; the costs of plans, tax deed
acquisition, land bank creation and acquisition, or
deacquisition or disposition of all real estate placed
therein, credit enhancement vehicles, easements,
specifications, surveys, and estimates of costs and other
expenses necessary or incident to determining the feasibility
or practicability of any project, together with such other
expenses as may be reasonable or necessary or incident to the
financing, insuring, acquisition, disposition, redevelopment,
and construction of a specific project and the placing of the
project in operation.
"Financial aid" means the expenditure of Authority funds
or funds provided by the Authority through the issuance of its
revenue bonds, notes, or other evidence of indebtedness, or
grants from private or public entities for the development,

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construction, acquisition, or improvement of a project.
"Governmental agency" means any federal, State, or local
governmental body and any agency or instrumentality of the
federal, State, or local governmental body, corporate or
otherwise.
"Lease agreement" means an agreement under which a project
acquired by the Authority by purchase, gift, or lease, or
other valuable consideration is leased to any person or
governmental agency that will use or cause the project to be
used as a project upon terms providing for lease rental
payments at least sufficient to pay, when due, the lessee's
pro rata share of all principal and interest and premium, if
any, on any revenue bonds, notes, or other evidences of
indebtedness of the Authority issued with respect to the
project, providing for the maintenance, insurance, and
operation of the project on terms satisfactory to the
Authority, and providing for disposition of the project upon
termination of the lease term, including purchase options or
abandonment of the premises, with such other terms as may be
deemed desirable by the Authority.
"Loan agreement" means any agreement by which the
Authority agrees to loan the proceeds of its revenue bonds,
notes, or other evidences of indebtedness issued with respect
to a project to any person or governmental agency that will use
or cause the project to be used as a project upon terms
providing for loan repayment installments at least sufficient

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to pay, when due, the borrower's pro rata share of all
principal of and interest and premium, if any, on any revenue
bonds, notes, or other evidences of indebtedness of the
Authority issued with respect to the project, providing for
maintenance, insurance, and operation of the project on terms
satisfactory to the Authority, and providing for other matters
as may be deemed advisable by the Authority.
"Person" includes, without limitation, an individual,
corporation, partnership, unincorporated association, and any
other legal entity, including a trustee, receiver, assignee,
or personal representative of the entity.
"Project" means an industrial, commercial, commercial
mixed use, environmental justice, land conservancy,
residential, or freight-oriented project or any combination
thereof if all uses fall within one of those categories,
including, but not limited to, one or more buildings and other
structures, improvements, machinery, and equipment, whether on
the same site or adjacent to any land or lakes, buildings,
machinery, or equipment comprising an addition to or
renovation, rehabilitation, or improvement of any existing
capital project. "Project" includes all site improvements,
signage, access roads, lighting, curb cuts, and new
construction involving infrastructure, including, but not
limited to, roads, traffic management lights and directional
signage, sidewalks, sewers, landscaping, and all appurtenances
and facilities incidental thereto, such as utilities, access

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roads, railroad sidings, truck docking, and similar
facilities, parking facilities, or related equipment and other
improvements necessary or convenient thereto, solid waste and
wastewater treatment and disposal sites and other pollution
control facilities, resource or waste reduction, recovery,
treatment, and disposal facilities, open spaces,
conservancies, preserves, streets, highways.
"Revenue bond" or "bond" means any bond issued by the
Authority under the supervision of the Illinois Finance
Authority, the principal and interest of which are payable
solely from revenues or income derived from any project or
activity of the Authority.
"Terminal" means a public place, station, or depot for
receiving and delivering passengers, baggage, mail, freight,
or express matter, and any combination thereof, in connection
with the transportation of persons and property on land.
"Terminal facilities" means all land, buildings,
structures, improvements, equipment, and appliances useful in
the operation of public warehouse, storage, and transportation
facilities and industrial, manufacturing, or commercial
activities for the accommodation of or in connection with
commerce by land.
Section 15. Creation of Authority; Board members;
officers.
(a) The Cairo Development Authority is created as a

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political subdivision, body politic, and municipal
corporation.
(b) The jurisdiction of the Authority extends over
Alexander County.
(c) The governing and administrative powers of the
Authority shall be vested in its Board of Directors consisting
of 5 members, 2 of whom shall be appointed by the Mayor of the
City of Cairo, one of whom shall be appointed by the Board of
County Commissioners of Alexander County, and 2 of whom shall
be appointed by the Governor. All persons appointed as members
of the Board shall have recognized ability and experience in
one or more of the following areas: economic development;
finance; banking; industrial development; business management;
real estate; community development; organized labor; or civic,
community, or neighborhood organization.
(d) The terms of the 5 initial appointees to the Authority
shall commence 15 days after the effective date of this Act or
as soon as they are appointed. Of the 5 appointees initially
appointed: (i) one of the Mayor's appointees and one of the
Governor's appointees shall be appointed to serve terms
expiring on the third Monday in January 2027; (ii) one of the
Mayor's appointees shall be appointed to serve a term expiring
on the third Monday in January 2028; and (iii) the Board of
Commissioner's appointee and one of the Governor's appointees
shall be appointed to serve terms expiring on the third Monday
in January 2029. All successors shall be appointed by the

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original appointing authority and hold office for a term of 6
years commencing the third Monday in January of the year in
which their term commences, except in case of an appointment
to fill a vacancy. Vacancies shall be filled for the remainder
of the term by the Mayor, Board of Commissioners, or Governor
depending upon which person or Board made the appointment of
the individual that left the Board of Commissioners. Each
member appointed to the Board shall serve until his or her
successor is appointed and accepted by majority vote of the
members left after the vacancy occurs or the term expires and
shall meet the professional background requirements under
subsection (c).
(e) The Chairperson of the Board shall be elected by the
Board annually from among its members.
(f) The appointing authority may remove any member of the
Board in case of incompetency, neglect of duty, or malfeasance
in office.
(g) Members of the Board shall serve without compensation
for their services as members, but the Board may vote to
compensate its members, and they also may be reimbursed for
all necessary expenses incurred in connection with the
performance of their duties as members.
(h) The Board may appoint an Executive Director, Associate
Executive Director, General Counsel, Finance Director, and
Chief Engineer who shall have a background and, when
necessary, licensed credentials or certifications and or

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academic degrees in administration, planning, real estate,
economic development, finance, or law. The Executive Director
shall hold office at the discretion of the Board, but a
contract may be executed for a period of time of service as
negotiated. The Executive Director shall be the chief
administrative and operational officer of the Authority, shall
direct and supervise its administrative affairs and general
management, shall perform such other duties as may be
prescribed from time to time by the Board, and shall receive
compensation fixed by the Board. The Executive Director shall
attend all meetings of the Board; however, no action of the
Board or the Authority shall be invalid on account of the
absence of the Executive Director from a meeting. The Board
may engage the services of such other agents and employees,
including planners, attorneys, appraisers, engineers,
accountants, credit analysts, and other consultants, and may
prescribe their duties and fix their compensation.
(i) The Board shall meet on the call of its Chairperson or
upon written, telephonic, or email notice of 3 members of the
Board.
(j) All official acts of the Authority shall require a
quorum of 3 members and an affirmative vote of at least 3 of
the members of the Board present and voting at a meeting of the
Board.
Section 20. Responsibilities of the Authority.

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(a) It is the duty of the Authority to promote development
within its territorial jurisdiction. The Authority shall use
the powers conferred on it by this Act to assist in the
planning, development, acquisition, construction, and
marketing of residential, industrial, commercial, or
freight-oriented projects within its territorial jurisdiction.
(b) The Authority has the power to undertake joint
planning for property within its territorial jurisdiction that
identifies and addresses its development, transportation,
transit, zoning, workforce, and environmental priorities and
objectives.
(c) The Authority has the power to assemble and prepare
parcels for development.
(d) The Authority has the power to oversee environmental
studies and remediation necessary to identify and remove any
hazards or toxins that impede development.
(e) The Authority has the power to develop, construct, and
improve, either under its own direction or through
collaboration with any approved applicant, or to acquire
through purchase or otherwise any project, using for that
purpose the proceeds derived from its sale of revenue bonds,
notes, or other evidence of indebtedness or governmental loans
or grants, and to hold title in the name of the Authority to
those projects.
(f) The Authority has the power to market the Cairo
development to prospective developers and businesses.

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(g) The Authority shall make its best effort to annex
parcels of unincorporated property that are subject to the
jurisdiction of the Authority contiguous to the City of Cairo.
(h) The Authority shall maintain relations with local
residents, industries, businesses, nonprofit organizations,
elected and appointed officials, and other government and
private entities as well as any other interested parties in
the course of achieving its objectives and exercising its
powers.
Section 25. Powers. The Authority possesses all powers of
a body corporate necessary and convenient to accomplish the
purpose of this Act, including, without limitation, the
following:
(1) to enter into loans, contracts, agreements, and
mortgages in any matter connected with any of its
corporate purposes and to invest its funds;
(2) to sue and be sued;
(3) to employ agents and employees necessary to carry
out its purposes;
(4) to have, use, and alter a common seal;
(5) to adopt all needful ordinances, resolutions,
bylaws, rules, and regulations for the conduct of its
business and affairs and for the management and use of the
projects developed, constructed, acquired, and improved in
furtherance of its purposes;

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(6) to designate the fiscal year for the Authority;
(7) to accept and expend appropriations;
(8) to have and exercise all powers and be subject to
all duties usually incident to boards of directors of
corporations;
(9) to acquire, own, lease, sell, or otherwise dispose
of interests in and to real property and improvements
situated thereon and in personal property from any person,
the State of Illinois, any municipal corporation, any unit
of local government, the government of the United States,
any agency or instrumentality of the United States, any
body politic, or any county, whether the property is
improved for the purposes of any prospective project or
unimproved, useful, and necessary to fulfill the purposes
of the Authority;
(10) to acquire title to any project with respect to
which it exercises its authority;
(11) to engage in any activity or operation, including
brownfield remediation, which is incidental to and in
furtherance of efficient operation to accomplish the
Authority's primary purpose and be reasonable and
necessary for the efficient function of the authority;
(12) to acquire, own, construct, lease, operate, and
maintain, within its corporate limits, terminals and
terminal facilities and to fix and collect just,
reasonable, and nondiscriminatory charges for the use of

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those facilities;
(13) to collect fees and charges in connection with
its loans, commitments, and services;
(14) to use the charges and fees collected as
authorized under paragraphs (12) and (13) to defray the
reasonable expenses of the Authority and to pay the
principal and interest of any revenue bonds issued by the
Authority;
(15) to borrow money and issue revenue bonds, notes,
or other evidences of indebtedness under the supervision
of the Illinois Finance Authority, as set forth under
Section 825-13.1 of the Illinois Finance Authority Act;
(16) to apply for and accept grants, loans, or
appropriations from the federal government, the State of
Illinois, including the Illinois Environmental Protection
Agency, and the City of Cairo;
(17) to accept donations, contributions, capital
grants or gifts from individuals, associations, and
private corporations in aid of any purposes of this Act
and to enter into agreements in connection therewith;
(18) to enter into intergovernmental agreements with
the State of Illinois, any other state or local government
of another state, the Illinois Finance Authority, the
United States government, any agency or instrumentality of
the United States, any unit of local government located
within the territory of the Authority, or any other unit

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of government to the extent allowed by Section 10 of
Article VII of the Illinois Constitution and the
Intergovernmental Cooperation Act;
(19) to petition any federal, state, municipal, or
local authority, and any unit of local government having
jurisdiction in the premises for the adoption and
execution of any physical improvement, change in method or
system of handling freight, warehousing, docking,
lightering, and transfer of freight which, in the opinion
of the Authority, is designed to improve the handling of
commerce in and through its territorial jurisdiction or
improve terminal or transportation facilities therein;
(20) to enter into agreements with businesses, form
public-private partnership entities and appropriate funds
to such entities as needed to achieve the purpose of this
Act; and
(21) to share employees with other units of
government, including agencies of the United States,
agencies of the State of Illinois, and agencies or
personnel of any unit of local government.
Section 30. Limitations. If any of the Authority's powers
are exercised within the jurisdictional limits of any
municipality, then all of the ordinances of that municipality
remain in full force and effect and are controlling.
The Authority shall not issue any revenue bonds relating

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to the financing of a project located within the planning and
subdivision control jurisdiction of any municipality or county
unless: (1) notice, including a description of the proposed
project and the financing therefor, is submitted to the
corporate authorities of the municipality or, in the case of a
proposed project in an unincorporated area, to the county
board; and (2) the corporate authorities do not or, in the case
of an unincorporated area, the county board does not, adopt a
resolution disapproving the project within 45 days after
receipt of the notice.
Section 35. Revenue Bonds.
(a) The Authority shall have the continuing power to issue
revenue bonds, notes, or other evidences of indebtedness in an
aggregate amount not to exceed $200,000,000 for the purpose of
developing, constructing, acquiring, or improving projects,
including those established by business entities locating or
expanding property within the territorial jurisdiction of the
Authority, for entering into venture capital agreements with
businesses locating or expanding within the territorial
jurisdiction of the Authority, for acquiring and improving any
property necessary and useful in connection therewith, and for
the purposes of the Employee Ownership Assistance Act. The
bonds must be issued under the supervision of the Illinois
Finance Authority, as set forth under Section 825-13.1 of the
Illinois Finance Authority Act. For the purpose of evidencing

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the obligations of the Authority to repay any money borrowed,
the Authority may, pursuant to resolution, from time to time
issue and dispose of its interest bearing revenue bonds,
notes, or other evidences of indebtedness and may also from
time to time issue and dispose of such bonds, notes, or other
evidences of indebtedness to refund, at maturity, at a
redemption date or in advance of either, any revenue bonds,
notes, or other evidences of indebtedness pursuant to
redemption provisions or at any time before maturity. All such
revenue bonds, notes, or other evidence of indebtedness shall
be payable solely from the revenues or income to be derived
from loans made with respect to projects, from the leasing or
sale of the projects, or from any other funds available to the
Authority for such purposes, including, when provided by
ordinance of the Authority, authorizing the issuance of
revenue bonds or notes. The revenue bonds, notes, or other
evidences of indebtedness may bear such date or dates, may
mature at such time or times not exceeding 40 years from their
respective dates, may bear interest at such rate or rates not
exceeding the maximum rate permitted by the Bond Authorization
Act, may be in such form, may carry such registration
privileges, may be executed in such manner, may be payable at
such place or places, may be made subject to redemption in such
manner and upon such terms, with or without premium as is
stated on the face thereof, may be authenticated in such
manner, and may contain such terms and covenants as may be

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provided by an applicable resolution.
(b) The holder or holders of any revenue bonds, notes, or
other evidences of indebtedness issued by the Authority may
bring suits at law or proceedings in equity to compel the
performance and observance by any corporation or person or by
the Authority or any of its agents or employees of any contract
or covenant made with the holders of such revenue bonds,
notes, or other evidences of indebtedness, to compel such
corporation, person, the Authority, and any of its agents or
employees to perform any duties required to be performed for
the benefit of the holders of any such revenue bonds, notes, or
other evidences of indebtedness by the provision of the
resolution authorizing their issuance and to enjoin such
corporation, person, the Authority, and any of its agents or
employees from taking any action in conflict with any such
contract or covenant.
(c) If the Authority fails to pay the principal of or
interest on any of the revenue bonds or premium, if any, as the
same become due, a civil action to compel payment may be
instituted in the appropriate circuit court by the holder or
holders of the revenue bonds on which such default of payment
exists or by an indenture trustee acting on behalf of such
holders. Delivery of a summons and a copy of the complaint to
the Chairperson of the Board shall constitute sufficient
service to give the circuit court jurisdiction of the subject
matter of such a suit and jurisdiction over the Authority and

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its officers named as defendants for the purpose of compelling
such payment. Any case, controversy, or cause of action
concerning the validity of this Act relates to the revenue of
the State of Illinois.
(d) Notwithstanding the form and tenor of any such revenue
bonds, notes, or other evidences of indebtedness and in the
absence of any express recital on the face of any such revenue
bond, note, or other evidence of indebtedness that it is
nonnegotiable, all such revenue bonds, notes, and other
evidences of indebtedness shall be negotiable instruments.
Pending the preparation and execution of any such revenue
bonds, notes, or other evidences of indebtedness, temporary
revenue bonds, notes, or evidences of indebtedness may be
issued as provided by ordinance.
(e) To secure the payment of any or all of such revenue
bonds, notes, or other evidences of indebtedness, the revenues
to be received by the Authority from a lease agreement or loan
agreement shall be pledged, and, for the purpose of setting
forth the covenants and undertakings of the Authority in
connection with the issuance thereof and the issuance of any
additional revenue bonds, notes, or other evidences of
indebtedness payable from such revenues, income, or other
funds to be derived from projects, the Authority may execute
and deliver a mortgage or trust agreement. A remedy for any
breach or default of the terms of any such mortgage or trust
agreement by the Authority may be by mandamus proceedings in

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the appropriate circuit court to compel the performance and
compliance therewith, but the trust agreement may prescribe by
whom or on whose behalf the action may be instituted.
(f) The revenue bonds or notes shall be secured as
provided in the authorizing ordinance which may,
notwithstanding any other provision of this Act, include in
addition to any other security a specific pledge or assignment
of and lien on or security interest in any or all revenues or
money of the Authority from whatever source which may by law be
used for debt service purposes and a specific pledge or
assignment of and lien on or security interest in any funds or
accounts established or provided for by ordinance of the
Authority authorizing the issuance of such revenue bonds or
notes.
(g) The State of Illinois pledges to and agrees with the
holders of the revenue bonds and notes of the Authority issued
pursuant to this Section that the State will not limit or alter
the rights and powers vested in the Authority by this Act to
impair the terms of any contract made by the Authority with
such holders or in any way impair the rights and remedies of
such holders until such revenue bonds and notes, together with
interest thereon, with interest on any unpaid installments of
interest, and all costs and expenses in connection with any
action or proceedings by or on behalf of such holders, are
fully met and discharged. The Authority is authorized to
include these pledges and agreements of the State in any

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contract with the holders of revenue bonds or notes issued
pursuant to this Section.
(h) Under no circumstances shall any bonds issued by the
Authority or any other obligation of the Authority be or
become an indebtedness or obligation of the State of Illinois
or of any other political subdivision of or municipality
within the State, nor shall any such bond or obligation be or
become an indebtedness of the Authority within the purview of
any constitutional limitation or provision, and it shall be
plainly stated on the face of each bond that it does not
constitute such an indebtedness or obligation but is payable
solely from the revenues or income as aforesaid.
(i) For the purpose of financing a project pursuant to
this Act, the Authority shall be authorized to apply for an
allocation of tax-exempt bond financing authorization provided
by Section 11143 of the Safe, Accountable, Flexible, Efficient
Transportation Equity Act: A Legacy for Users (SAFETEA-LU),
Public Law 109-59, as well as financing available under any
other federal law or program.
Section 40. Designation of depository. The Authority shall
biennially designate a national or State bank or banks as
depositories of its money. Those depositories shall be
designated only within the State and upon condition that bonds
approved as to form and surety by the Authority and at least
equal in amount to the maximum sum expected to be on deposit at

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any one time shall be first given by the depositories to the
Authority, those bonds to be conditioned for the safekeeping
and prompt repayment of the deposits. When any of the funds of
the Authority shall be deposited by the treasurer in any such
depository, the treasurer and the sureties on his official
bond shall, to that extent, be exempt from liability for the
loss of the deposited funds by reason of the failure,
bankruptcy, or any other act or default of the depository.
However, the Authority may accept assignments of collateral by
any depository of its funds to secure the deposits to the same
extent and conditioned in the same manner as assignments of
collateral are permitted by law to secure deposits of the
funds of any city.
Section 45. Reports; Inspector General. The Authority
shall, annually, submit a report of its finances to the
Auditor General. The Authority shall annually submit a report
of its activities to the Governor and to the General Assembly.
The Authority may also create an office of the Inspector
General to provide oversight and compliance with any of its
regulatory policies.
Section 50. Dissolution of the Authority. The Authority is
dissolved upon the last to occur of the following: (1) the
expiration of the 15-year period that begins on the effective
date of this Act; or (2) one year after the date that all

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revenue bonds, notes, and other evidence of indebtedness of
the Authority have been fully paid and discharged or otherwise
provided for. Upon the dissolution of the Authority, all of
its rights and property shall pass to and be vested in the
State of Illinois.
Section 900. The Illinois Finance Authority Act is amended
by adding Section 825-13.1 as follows
(20 ILCS 3501/825-13.1 new)
Sec. 825-13.1. Supervision of the Cairo Development
Authority bond issuances.
(a) All bond issuances of the Cairo Development Authority
are subject to supervision, management, control, and approval
of the Illinois Finance Authority.
(b) All bonds issued by the Cairo Development Authority
under the supervision of the Illinois Finance Authority are
subject to the terms and conditions that are set forth in the
Cairo Development Authority Act.
(c) The bonds issued by the Cairo Development Authority
under the supervision of the Illinois Finance Authority are
not debts of the Illinois Finance Authority or of the State.
Section 999. Effective date. This Act takes effect upon
becoming law.