(105 ILCS 5/5-28) (from Ch. 122, par. 5-28)
Sec. 5-28. Lease or sale of lands. The trustees of schools or township land commissioners may lease or sell
any lands that come into their possession in the manner described in
Sections 5-26 or 5-27. When in their opinion it is to the best interest
of the schools of the township or district interested in any such lands
that they be sold, the trustees shall adopt a resolution to such effect and
in such resolution shall specify the time, place and terms of sale. The
sale shall be at public auction and the trustees shall give notice thereof
by publishing notice once each week for three successive weeks prior to the
date of the sale in a newspaper published in the township to which the real
estate belongs, and if the lands to be sold lie outside of the township to
which they belong then such notice is to be published as herein provided in
a newspaper published in the township in which the land lies or, if no such
newspaper is published either in the township where the real estate belongs
or in the township where the land lies, then in a newspaper published in
the county and having a general circulation in the township affected. The
notices shall describe the property and state the time, place and terms of
the sale. The trustees have the right to reject any and all bids. Upon the
sale being made, deed of conveyance shall be executed by the president and
clerk of the trustees and the proceeds shall be paid to the township
treasurer for the benefit of the township or the district interested in the
lands.
(Source: P.A. 100-963, eff. 1-1-19.)
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