(110 ILCS 805/5A-45)
Sec. 5A-45. Installment payment contract; lease purchase agreement. A community college district or
2 or more such districts in combination may enter into an
installment payment contract or lease purchase agreement with a qualified
provider or with a third-party, as authorized by law, for the funding or financing of the purchase and installation of energy conservation measures by a qualified provider.
Every community college district may issue certificates evidencing the
indebtedness
incurred pursuant to the contracts or agreements. Any such contract or
agreement shall be valid
whether or not an appropriation with respect
thereto is first included in any annual or additional or supplemental budget
adopted by
the community college district. Each contract or agreement entered
into by a community college district pursuant to this Section shall be
authorized by official action
of the community college board. The authority granted under this Section is in addition to any other authority granted by law.
(Source: P.A. 100-884, eff. 1-1-19.)
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