Sec. 65. Term of agreement; reversion of property to responsible public entity.
102 words·~1 min read·
/il/chapter-630/act-5/65A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 65. Term of agreement; reversion of property to responsible public entity.
(a)The term of a public-private agreement, including all extensions, may not exceed 99 years.
(b)The responsible public entity 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 responsible public entity.