Whereas
to grant the consent of Congress to an amendment to the compact between the
States of Missouri and Illinois providing that bonds issued by the Bi-State
Development Agency may mature in not to exceed 40 years;
Whereas
the Congress in consenting to the compact between Missouri and Illinois
creating the Bi-State Development Agency and the Bi-State Metropolitan District
provided that no power shall be exercised by the Bi-State Agency until such
power has been conferred upon the Bi-State Agency by the legislatures of the
States to the compact and approved by an Act of Congress;
Whereas
such States previously enacted legislation providing that the Bi-State Agency
had the power to issue notes, bonds, or other instruments in writing provided
they shall mature in not to exceed 30 years, and Congress consented to such
power; and
Whereas
such States have now enacted legislation amending this power: Now therefore, be
it
1.
(a)The consent of Congress is given to the
amendment of the powers conferred on the Bi-State Development Agency by Senate
Bill 758, Laws of Missouri 2010 and Public Act 96–1520 (Senate Bill 3342), Laws
of Illinois 2010.
(b)The amendment to the
powers conferred by the Acts consented to in subsection (a) shall take effect
on December 17, 2010.
2.Application of Act of August 31,
1950The provisions of the Act
of August 31, 1950 (64 Stat. 568) shall apply to the amendment approved under
this joint resolution to the same extent as if such amendment was conferred
under the provisions of the compact consented to in such Act.
3.Right to alter, amend, or
repealThe right to alter,
amend, or repeal this joint resolution is expressly reserved.
4.The right is reserved to Congress to require
the disclosure and furnishings of such information or data by the Bi-State
Development Agency as is deemed appropriate by Congress.
Passed the Senate
September 26, 2011.
Secretary