Ill. Admin. Code tit. 71, § 30.120 - Funding of Trust Agreement - Schedule
a) In the event a Board project is to be
funded in part or in whole from local resources by use of a trust established
under this Part, that trust shall be established prior to the signing of an
architect or engineer contract.
b)
The trust to be established shall be funded in an amount equal to 40% of each
of the fees under the architect or engineer contracts to be signed plus
reimbursables under each contract to cover contractual obligations through the
design development phase of the project or any part of the project.
c) Approval to proceed beyond the design
development stage or to advertise the first bid package of a phased bid
project, whichever comes first, shall be preceded by a deposit in the trust of
the balance of the local share of the total project cost.
Notes
Amended at 8 Ill. Reg. 20360, effective October 1, 1984
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