(70 ILCS 810/10) (from Ch. 96 1/2, par. 6413)
Sec. 10.
The board of each forest preserve district has the power by
ordinance to purchase or lease as lessee real or personal property
(including, without limitation, purchases from and leases with other units
of local government, school districts, or the federal government or any of its
agencies or instrumentalities) for public purposes pursuant to contracts or
leases which provide that the consideration for the purchase or lease may be
paid in annual installments during the period not to exceed 40 years; to lease
as lessee or to purchase real property or personal property for public purposes
pursuant to a lease or purchase agreement which may provide that the district
may, at its option, purchase the property which is subject to the agreement or
lease upon terms wherein payments previously made, or a portion of them, are
deducted from the purchase price of the property as provided for in the lease
or agreement.
The maximum amounts that will become due under the terms of the purchase or
lease agreements, together with all other indebtedness of the district,
however, must be within the constitutional limitations on the incurring of
indebtedness for the district and for pertinent public purposes.
(Source: P.A. 87-1191; 88-503.)
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