Illinois Compiled Statutes 630 ILCS 5 Public-private Partnerships for Transportation Act. Section 65

    (630 ILCS 5/65)

    Sec. 65. Term of agreement; reversion of property to transportation agency.

    (a) The term of a public-private agreement, including all extensions, may not exceed 99 years.

    (b) The transportation agency shall terminate the contractor's authority and duties under the public-private agreement on the date set forth in the public-private agreement.

    (c) Upon termination of the public-private agreement, the authority and duties of the contractor under this Act cease, except for those duties and obligations that extend beyond the termination, as set forth in the public-private agreement, and all interests in the transportation facility shall revert to the transportation agency.

(Source: P.A. 97-502, eff. 8-23-11.)

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Last modified: February 18, 2015