§ 85

Illinois § 85

• Jurisdiction: Illinois
• Topic: TRANSPORTATION
• Ch. 605: ROADS AND BRIDGES
• Act 605 ILCS 130/: Public Private Agreements for the Illiana Expressway Act.

Text

Rights of the Illinois Department of Transportation upon expiration or termination of the agreement. (a) Upon the termination or expiration of the public private agreement, including a termination for default, the Department shall have the right to take over the Illiana Expressway project and to succeed to all of the right, title, and interest in the Illiana Expressway project, subject to any liens on revenues previously granted by the contractor to any person providing financing for the Illiana Expressway project. (b) If the Department elects to take over the Illiana Expressway project as provided in subsection (a) of this Section, the Department may, without limitation, do the following: (1) develop, finance, construct, maintain, or operate the project, including through another public private agreement entered into in accordance with this Act; or (2) impose, collect, retain, and use user fees, if any, for the project. (c) If the Department elects to take over the Illiana Expressway project as provided in subsection (a) of this Section, the Department may, without limitation, use the revenues, if any, for any lawful purpose, including to: (1) make payments to individuals or entities in connection with any financing of the Illiana Expressway project; (2) permit a contractor or third party to receive some or all of the revenues under the public private agreement entered into under this Act; (3) pay development costs of the Illiana Expressway; (4) pay current operation costs of the Illiana Expressway; and (5) pay the contractor for any compensation or payment owing upon termination. (d) All real property acquired as a part of the Illiana Expressway shall be held in the name of the State of Illinois upon termination of the Illiana Expressway project. (e) The full faith and credit of the State or any political subdivision of the State or the Department is not pledged to secure any financing of the contractor by the election to take over the Illiana Expressway project. Assumption of development or operation, or both, of the Illiana Expressway project does not obligate the State or any political subdivision of the State or the Department to pay any obligation of the contractor.

Legislative History

(Source: P.A. 96-913, eff. 6-9-10.)