Illinois Administrative Code
Title 71 - PUBLIC BUILDINGS, FACILITIES AND REAL PROPERTY
Part 41 - GRANT AGREEMENT PROCEDURES
Section 41.115 - Fidelity Bond

Universal Citation: 71 IL Admin Code ยง 41.115

Current through Register Vol. 47, No. 52, December 29, 2023

CDB may require a grantee to obtain a fidelity bond in the amount of 125% of the grant amount. In making the determination whether a bond shall be required, CDB shall consider one or more of, but will not be limited to, the following:

a) The size of the grant;

b) The nature of the project;

c) Whether the grantee is a unit of government or a private entity; or

d) The grantee's past experience in similar projects or financial matters.

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