Illinois Compiled Statutes 70 ILCS 5/13.2 – Capital improvement program and budget
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Terms Used In Illinois Compiled Statutes 70 ILCS 5/13.2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
Each airport authority organized under this Act may annually prepare and update a 5-year capital improvement program and yearly capital budgets based on the program. The purposes of the program are to (i) inventory the airport authority’s capital assets, (ii) determine the match between needs and resources, (iii) plan for capital investments and the maintenance of existing facilities, (iv) analyze the relationships between capital maintenance and operating spending, and (v) assist the airport authority in competing for its fair share of State and federal moneys.