Illinois HB1158 increases the cap on Metropolitan Water Reclamation District bonds to $600,000,000 for sewage treatment and water quality projects.
HB1158 amends the Metropolitan Water Reclamation District Act to raise the cap on bonds, notes, and other evidences of indebtedness from $150,000,000 to $600,000,000. These financial instruments can be used for sewage treatment works, administrative buildings, water quality improvement projects, and flood control facilities. The corporate authorities of the district can issue these obligations without voter approval to decrease the unfunded liability of the pension fund. The annual issuance limit is set at $250,000,000 plus any unissued obligations from the previous three budget years.
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