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70 ILCS 530/6
(70 ILCS 530/6) (from Ch. 85, par. 7156)
Sec. 6.
Powers.
(a) The Authority possesses all the powers of a body
corporate necessary and convenient to accomplish the purposes of this Act,
including, without any intended limitation upon the general powers hereby
conferred, the following:
(1) to enter into loans, contracts, agreements and mortgages in any
matter connected with any of its corporate purposes and to invest its funds;
(2) to sue and be sued;
(3) to employ agents and employees necessary to carry out its purposes;
(4) to have and use a common seal and to alter the same at its discretion;
(5) to adopt all needful ordinances, resolutions, by-laws, rules and
regulations for the conduct of its business and affairs and for the
management and use of the projects developed, constructed, acquired and
improved in furtherance of its purposes;
(6) to designate the fiscal year for the Authority;
(7) to accept and expend appropriations; and
(8) to have and exercise all powers and be subject to all duties usually
incident to boards of directors of corporations.
(b) The Authority shall not issue any bonds relating to the financing of
a project located within the planning and subdivision control jurisdiction
of any municipality or county unless: (1) notice, including a description
of the proposed project and the financing therefor, is submitted to the
corporate authorities of such municipality or, in the case of a proposed
project in an unincorporated area, to the county board; and (2) such
corporate authorities do not, or the county board does not, adopt a
resolution disapproving the project within 45 days after
receipt of the notice.
(c) If any of the powers set forth in this Act are exercised within the
jurisdictional limits of any municipality, all ordinances of such
municipality shall remain in full force and effect and shall be controlling.
(d) To acquire, own, lease, sell or otherwise dispose of interests in
and to real property and improvements situated thereon and in personal
property necessary to fulfill the purposes of the Authority.
(e) To engage in any activity or operation which is incidental to and in
furtherance of efficient operation to accomplish the Authority's primary purpose.
(f) To acquire, own, construct, lease, operate and maintain bridges,
terminals, terminal facilities and port facilities and to fix and collect
just, reasonable and nondiscriminatory charges for the use of such
facilities. The charges so collected shall be used to defray the
reasonable expenses of the Authority and to pay the principal and
interest of any revenue bonds issued by the Authority.
(g) Subject to any applicable condition imposed by
this Act, to locate, establish and maintain a public airport, public
airports and public airport facilities within its corporate limits or
within or upon any body of water adjacent thereto and to construct,
develop, expand, extend and improve any such airport or airport facility.
(Source: P.A. 86-1024.)
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