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70 ILCS 525/2008
(70 ILCS 525/2008) (from Ch. 85, par. 7508)
Sec. 2008. 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 such source.
(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 such purpose the proceeds derived from its sale of revenue bonds, notes
or other evidences of indebtedness or governmental loans or grants and to
hold title in the name of the Authority to such projects.
(d) The Authority shall have the power to enter into intergovernmental
agreements with the State of Illinois, the counties of McLean, Peoria, Tazewell, or
Woodford, the Illinois Finance Authority, the Illinois Housing
Development Authority, the
Metropolitan Pier and Exposition Authority, 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. 103-517, eff. 8-11-23.)
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