ILCS » Chapter 110 · Act 62
Illinois Compiled Statutes

110 ILCS 62/25 (2026)

Installment payment contract; lease purchase agreement

✓ current as of May 2026
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(110 ILCS 62/25)
    Sec. 25. Installment payment contract; lease purchase agreement. A public university or 2 or more public universities 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. Each public university 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 proposal, request, or recommendation submitted by or made with respect to a public university under Section 8 of the Board of Higher Education Act or as otherwise provided by law. Each contract or agreement entered into by a public university pursuant to this Section shall be authorized by official action of the board of trustees of that university. The authority granted in this Section is in addition to any other authority granted by law.
(Source: P.A. 96-1197, eff. 7-22-10; 97-333, eff. 8-12-11.)

    
Notes of Decisions
Cited in 2 cases, 2008–2008 · leading case: People Ex Rel. Bd. of Trs. of Chicago State Univ. v. Siemens Bldg. Tech., Inc., 900 N.E.2d 414 (Ill. App. Ct. 2008).
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People Ex Rel. Bd. of Trs. of Chicago State Univ. v. Siemens Bldg. Tech., Inc., 900 N.E.2d 414 (Ill. App. Ct. 2008). · cites it 3× “” 110 ILCS 62/25 (West 1998). During the pendency of this litigation, on November 15, 2006, the trial court construed section 25 in its order denying Siemens Financial’s and MBIA’s motions to dismiss the third-amended complaint.”
People v. Siemens Bldg. Tech. (Ill. App. Ct. 2008). · cites it 3× “” 110 ILCS 62/25 (West 1998). During the pendency of this litigation, on November 15, 2006, the trial court construed section 25 in its order denying Siemens Financial’s and MBIA’s motions to dismiss the third-amended complaint.”
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