(65 ILCS 5/7-5-2) (from Ch. 24, par. 7-5-2)
Sec. 7-5-2.
Whenever a municipality or territory is endangered as specified
in Section 7-5-1, upon written petition, describing the property sought to
be acquired, and signed by not less than three-fourths of the electors of
that municipality or territory, and by the owners in fee simple of not less
than one-half in value of the remaining territory within the limits of that
municipality or territory, the corporate authorities of that municipality,
or the trustees of the lands held as a common, by ordinance, may authorize
acquisition of the title to the real estate described in the petition.
Upon the passage of the ordinance, that municipality or the inhabitants
of that territory may acquire the title to the real estate described in the
petition and ordinance, either by gift or by purchase. A deed of conveyance
to the municipality by its corporate name, or to the trustees of the land
held as a common, shall vest the title to this real estate for the purposes
of this article.
(Source: Laws 1961, p. 576.)
|