(55 ILCS 5/5-1050) (from Ch. 34, par. 5-1050)
Sec. 5-1050.
Acquisition and improvement of land for industrial or
commercial purposes. For the public purposes set forth in the Illinois Finance
Authority Act, a county board may (1)
acquire, singly or jointly with other counties or municipalities, by gift,
purchase or otherwise, but not by condemnation, land, or any interest in
land, whether located within or without its county limits, and, singly or
jointly, to improve or to arrange for the improvement of such land for
industrial or commercial purposes and to donate and convey such land, or
interest in land, so acquired and so improved to the Illinois
Finance Authority; and (2) donate county funds to such Authority.
(Source: P.A. 93-205, eff. 1-1-04.)
|