Sec. 2-20. Public-private agreement authorized.

177 words·~1 min read·/il/chapter-620/act-75/2-20

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Notwithstanding any provision of law to the contrary, the Department may, on behalf of the State, and pursuant to a competitive request for proposals process governed by Section 2-30 of this Act, enter into one or more public-private agreements with one or more contractors to develop, finance, construct, manage, operate, or maintain, or any combination thereof, the South Suburban Airport. Pursuant to those agreements, the contractors may receive the right to certain revenues including user fees in consideration of the payment of moneys to the State for that right.

(b)Before taking any action in connection with the development, financing, operation, or maintenance of the South Suburban Airport that is not authorized by an interim agreement under Section 2-40 of this Act, a contractor shall enter into a public-private agreement.

(c)The term of a public-private agreement, including all extensions, shall be no more than 75 years.

(d)The term of a public-private agreement may be extended, but only if the extension is specifically authorized by the General Assembly by law.