(55 ILCS 5/5-11008) (from Ch. 34, par. 5-11008)
Sec. 5-11008.
Leases; disposition of revenue.
The county board is
hereby given the authority to lease all
or any part of any such parking facilities, and to fix and collect the
rentals therefor, and to fix, charge and collect rentals, fees and
charges to be paid for the use of the whole or any part of any such
parking facilities, and to make contracts for the operation and
management of the same, and to provide for the use, management and
operation of such parking facilities through lease or by its own
employees, or otherwise; provided, however, that no lease for the
operation or management of any such parking facilities shall be made for
more than one year, except to the highest and best bidder after notice
requesting bids shall have been given by at least one publication in
some newspaper of general circulation published in the county, such
publication to be made once each week for at least two weeks before the
date of receiving bids therefor. All income and revenue derived from any
such lease or contract shall be deposited in a separate account and used
solely and only for the purpose of maintaining and operating the
project, and paying the principal of and interest on any bonds issued
pursuant to ordinance under the provisions of this Division.
Further any contract or obligation involving the borrowing of money for
such purposes, incurred by the county board in the maintenance and
operation of any such parking facilities shall be payable solely and only
from the revenues derived from the operation of the project.
(Source: P.A. 86-962.)
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