Illinois Compiled Statutes
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70 ILCS 1505/25.1
(70 ILCS 1505/25.1)
(from Ch. 105, par. 333.23b)
The Chicago Park District is hereby authorized to:
(a) Acquire by purchase or otherwise, own, construct,
equip, manage, control, erect, improve, extend, maintain and operate motor vehicle parking lot or lots, underground garage or garages, parking meters, and any other revenue producing facilities necessary or incidental to the regulation, control and parking of motor vehicles (hereinafter referred to as parking facilities), as the Commissioners of the Chicago Park District may from time to time find the necessity therefor exists, and for that purpose may acquire property of any and every kind or description, whether real, personal or mixed, by gift, purchase or otherwise;
(b) Maintain, improve, extend and operate any such
parking facilities and charge for the use thereof;
(c) Enter into contracts dealing in any manner with
the objects and purposes of sections 25.1 to 25.9, both inclusive, of this Act as now enacted and as may hereafter be amended;
(d) Acquire sites and facilities by gift, lease,
contract, purchase or condemnation under power of eminent domain, and to pledge the revenues thereof for the payment of any bonds issued for such purpose as provided for in sections 25.1 to 25.9, both inclusive, of this Act as now enacted and as may hereafter be amended. In all cases where property or rights are acquired or sought to be acquired by condemnation the procedure shall be, as nearly as may be, like that provided for the exercise of the right of eminent domain under the Eminent Domain Act;
(e) Borrow money and issue and sell bonds in such
amount or amounts as the Commissioners may determine for the purpose of acquiring, completing, erecting, constructing, equipping, improving, extending, maintaining or operating any or all of its parking facilities, and to refund and refinance the same from time to time as often as it shall be advantageous and to the public interest to do so.
(Source: P.A. 94-1055, eff. 1-1-07.)