A public university may use funds designated for operating or capital expenditures for any guaranteed energy savings contract, including purchases using installment payment contracts or lease purchase agreements. A public university that enters into such a contract or agreement may covenant in such contract or agreement that payments made thereunder shall be payable from the first funds legally available in each fiscal year.
110 ILCS 62/40
Available funds
Known as the Public University Energy Conservation Act
The act spans §§ 110-62-1 to 110-62-99 (20 sections).
P.A. 90-486, eff. 8-17-97.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.