LOCAL GOVT DEBT-REFUNDED BONDS House SponsorsRep. Brandon W. Phelps 1/8/2013HouseSession Sine Die 30 ILCS 350/11from Ch. 17, par. 6911 Amends the Local Government Debt Reform Act. Provides that bonds that have been refunded shall not be considered to be indebtedness for the purposes of any statutory or other debt limitation if the refunded bonds are secured by and to be paid as to principal, interest, and premium from an escrow account that is invested in certain obligations and is determined to be sufficient for the timely payment of principal and interest on the refunded bonds. Provides that any governmental unit may deposit cash into an escrow account to be held uninvested for the purpose of refunding or providing for the payment of principal, interest, and premium on its bonds. 2/8/2012HouseFiled with the Clerk by Rep. Brandon W. Phelps 2/8/2012HouseFirst Reading 2/8/2012HouseReferred to Rules Committee 1/8/2013HouseSession Sine Die