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70 ILCS 506/45 (70 ILCS 506/45)
Sec. 45. Acquisition.
(a) The Authority may, but need not, acquire title to any project with
respect to which it exercises its
authority.
(b) The Authority shall have power to acquire by purchase, lease, gift, or
otherwise any property or
rights therein from any person or persons, the State of Illinois, any municipal
corporation, any local unit of
government, the government of the United States and any agency or
instrumentality of the United States,
any body politic, or any county useful for its purposes, whether improved for
the purposes of any
prospective project or unimproved. The Authority may also accept any donation
of funds for its purposes
from any of these sources.
(c) The Authority shall have power to develop, construct, and improve,
either under its own direction or
through collaboration with any approved applicant, or to acquire, through
purchase or otherwise, any
project, using for this purpose the proceeds derived from its sale of revenue
bonds, notes, or other
evidences of indebtedness or governmental loans or grants and shall have the
power to hold title to those
projects in the name of the Authority.
(d) The Authority shall have the power to enter into intergovernmental
agreements with the State of
Illinois, the counties of Ford, Iroquois, Piatt, Champaign, Vermilion, Douglas, Moultrie, Shelby, Coles, or Edgar, the Illinois
Development Finance Authority, the Illinois Housing
Development Authority, the Illinois Education Facilities Authority, the
Illinois
Farm
Development Authority, the Rural Bond Bank,
the United States government and any agency or instrumentality of the United
States, any unit
of local government located within the territory of the Authority, or any other
unit of government to the
extent allowed by Article VII, Section 10 of the Illinois Constitution and the
Intergovernmental
Cooperation Act.
(e) The Authority shall have the power to share employees with other units
of government, including
agencies of the United States, agencies of the State of Illinois, and agencies
or personnel of any unit of
local government.
(f) The Authority shall have the power to exercise powers and issue bonds as
if it were a municipality so
authorized in Divisions 12.1, 74, 74.1, 74.3, and 74.5 of Article 11 of the
Illinois Municipal Code.
(Source: P.A. 94-203, eff. 7-13-05.) |
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