Current through Public Act 103-1052
Section 630 ILCS 5/65 - 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 .Amended by P.A. 103-0570,§ 90-5, eff. 1/1/2024.Added by P.A. 097-0502,§ 65, eff. 8/23/2011.