Illinois Compiled Statutes 105 ILCS 5/10-23.4 – Purchase of school bus
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Terms Used In Illinois Compiled Statutes 105 ILCS 5/10-23.4
- Contract: A legal written agreement that becomes binding when signed.
To purchase, maintain, repair and operate school buses and by resolution of the board to enter into a contract for the purchase of buses to be paid for within three years of the date of the resolution or over such longer period of time as does not exceed the depreciable life of the vehicle.