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90_HB2566
110 ILCS 205/9.11 from Ch. 144, par. 189.11
Amends the Board of Higher Education Act. Adds a caption
to a Section relating to the annual capital plan for the
public universities of Illinois.
LRB9008956THbd
LRB9008956THbd
1 AN ACT amend the Board of Higher Education Act by
2 changing Section 9.11.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Board of Higher Education Act is amended
6 by changing Section 9.11 as follows:
7 (110 ILCS 205/9.11) (from Ch. 144, par. 189.11)
8 Sec. 9.11. Annual capital plan. Effective January 1,
9 1980, to require the preparation of an annual capital plan
10 which details the proposed budget year and 3 year capital
11 needs of the Board of Trustees of the University of Illinois,
12 the Board of Trustees of Southern Illinois University, the
13 Board of Trustees of Chicago State University, the Board of
14 Trustees of Eastern Illinois University, the Board of
15 Trustees of Governors State University, the Board of Trustees
16 of Illinois State University, the Board of Trustees of
17 Northeastern Illinois University, the Board of Trustees of
18 Northern Illinois University, and the Board of Trustees of
19 Western Illinois University. Such plan shall detail capital
20 expenditures to finance revenue producing facilities through
21 the issuance of revenue bonds. This plan shall detail each
22 project and the project cost in current dollar amounts. The
23 plan shall contain the appropriate detail for the proposed
24 budget year and the 3 year plan which will justify the
25 projects ability to meet: the debt service requirements by
26 producing sufficient revenue, life expectancy and maintenance
27 requirements. Such annual capital plans shall be submitted to
28 the Illinois Economic and Fiscal Commission no later than
29 March 15th of each year.
30 (Source: P.A. 89-4, eff. 1-1-96.)