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(70 ILCS 210/26) (from Ch. 85, par. 1246)
Sec. 26.
(a)
As soon after the end of each fiscal year as
may be expedient, the
Board shall cause to be prepared and printed a complete and detailed report
and financial statement of its operations and of its assets and
liabilities. A reasonably sufficient number of copies of such report shall
be printed for distribution to persons interested, upon request, and a copy
thereof shall be filed with the Governor, the Mayor, the General
Assembly and the Park District President.
Within 6 months after the effective date of this amendatory
Act of 1985, or as soon thereafter as is possible, the Authority shall
adopt an accounting system which shall not be implemented until it has been
approved by the Auditor General as appropriate for the Authority's operations.
(b) With respect to construction by the Authority funded in whole or
in part with State or borrowed funds, including the Project, the Authority shall prepare
a monthly report of the progress of construction. The report shall include
a discussion of: (1) the status of construction; (2) delays or anticipated
delays in the completion of the construction; (3) cost overruns; (4) funds
available for construction and the current construction budget;
(5) the status of the implementation of the Authority's affirmative action
program by contractor, trade and levels of skill;
and (6) any
problems, or
anticipated problems, with respect to construction or costs of
construction. The monthly reports required by this Section shall be
submitted to the Governor, the Mayor and the General Assembly.
In connection with any construction by the Authority funded
in whole or in part by State or borrowed funds, including the Project, the
Authority will, when such construction is to be done by a general
contractor or a construction manager operating in a general contractor
capacity, institute a quality assurance program, including independent
quality control inspections. The Authority will file not less frequently
than quarterly written reports on the results of its quality assurance
program with the Governor, the Mayor and the General Assembly.
(Source: P.A. 84-1027.)
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