Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
§ 55. Funding and financing.
(a) The Transportation Agency may use any lawful source of funding and financing to compensate a design-builder and Construction Manager/General Contractor for work and services performed under a design-build contract or Construction Manager/General Contractor contract, as applicable, and the Transportation Agency may combine federal, State, local, and private funds to finance a transportation facility. Any Transportation Agency that administers a construction program for which federal law or regulations establish standards and procedures for the utilization of minority-owned and women-owned businesses and disadvantaged businesses shall implement a disadvantaged business enterprise program to include minority-owned and women-owned businesses and disadvantaged businesses, using the federal standards and procedures for the establishment of goals and utilization procedures for the State-funded, as well as the federally assisted, portions of the program. In cases of federal funding or federally assisted projects, these goals shall not exceed those established pursuant to the relevant and applicable federal statutes or regulations.
(b) Subject to appropriation by the General Assembly of the required amounts, the Transportation Agency may obligate and make expenditures of funds as and when needed to satisfy its payment obligations under a design-build contract or Construction Manager/General Contractor contract.
Cite this article: FindLaw.com - Illinois Statutes Chapter 630. General Transportation § 10/55. Funding and financing - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-630-general-transportation/il-st-sect-630-10-55/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)