(65 ILCS 5/11-76-4) (from Ch. 24, par. 11-76-4)
Sec. 11-76-4.
Whenever a city or village incorporated under any general or
special law, other than a city or village of 500,000 or more population,
owns any personal property which in the opinion of a simple majority of the
corporate authorities then holding office, is no longer necessary or useful
to, or for the best interests of the city or village, such a majority of
the corporate authorities then holding office, at any regular meeting or at
any special meeting called for that purpose, (1) by ordinance may authorize
the sale of that personal property in such manner as they may designate,
with or without advertising the sale, or (2) may authorize any municipal
officer to convert that personal property into some other form that is
useful to the city or village by using the material in the personal
property, or (3) may authorize any municipal officer to convey or turn in
any specified article of personal property as part payment on a new
purchase of any similar article. However, no article shall be turned in as
part of the purchase price on any purchase except upon receipt of
competitive bids, in such manner as may be prescribed by ordinance, after
notice to all bidders that the article will be turned over as part of the
purchase price.
In cities or villages of 500,000 or more population, the sale of any
such personal property shall be governed by the provisions of Division 10
of Article 8.
(Source: P.A. 88-355.)
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