(605 ILCS 5/6-201.17) (from Ch. 121, par. 6-201.17)
Sec. 6-201.17.
Have authority to purchase or lease or to finance the
purchase of highway
construction and maintenance equipment under contracts providing for
payment in installments over a period of time of not more than 10 years
with interest on the unpaid balance owing not to exceed 9%.
The purchases or contracts are subject to the bid provisions of Section
6-201.7 of this Code. In single township road districts, sale of road
district property including, but not limited to, machinery and equipment
shall be subject to elector approval as provided in Section 30-50
of the
Township Code. A trade in of old machinery or equipment on
new or
different machinery or equipment shall not be construed as the sale of road
district property.
(Source: P.A. 88-670, eff. 12-2-94; 89-331, eff. 8-17-95.)
|