91st General Assembly
Summary of SB0099
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Short description: 
METRO WATER DIST-LEASE BIDS                                                

Synopsis of Bill as introduced:
        Amends the Metropolitan Water Reclamation District Act.  Provides      
   that if there is more than  one  responsible  bid  for  the  lease  of      
   property  for  corporate purposes of a sanitary district, the board of      
   commissioners may authorize and direct the general  superintendent  to      
   solicit  from  the 2 highest responsible bidders written amendments to      
   their prior bid, increasing their rental bid proposal by at  least  5%      
   in  excess  of  their  prior  written  bid,  or otherwise amending the      
   financial terms of their bid so as to maximize the financial return to      
   the sanitary district during the term of the proposed lease.  Provides      
   that upon the general superintendent's tentative agreement with one or      
   more amended  bids,  the  bids  may  be  submitted  to  the  board  of      
   commissioners  with  the  recommendation of the general superintendent      
   for acceptance  of  one  or  rejection  of  all.   Provides  that  the      
   amendments  may  not  result  in  a  diminution  of  the  terms of the      
   transaction and must result in  an  agreement  that  is  equal  to  or      
   greater in value than the highest responsible bid initially received.       
Last action on Bill: PUBLIC ACT.............................. 91-0248

   Last action date: 99-07-22

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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