Illinois Compiled Statutes
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70 ILCS 1860/5
(70 ILCS 1860/5)
(from Ch. 19, par. 288)
The District has power to acquire and accept by purchase, lease,
gift, grant or otherwise any property and rights useful for its purposes and to
provide for the development of channels, ports, harbors, airports,
airfields, terminals, port facilities and terminal facilities adequate to
serve the needs of commerce within the District. The District may acquire
real or personal property or any rights therein in the manner, as near as
may be, as is provided for the exercise of the right
of eminent domain under the Eminent Domain Act; except that no rights or property of any kind or character now or
hereafter owned, leased, controlled or operated and used by, or necessary
for the actual operations of, any common carrier engaged in interstate
commerce, or of any other public utility subject to the jurisdiction of the
Illinois Commerce Commission, shall be taken or appropriated by the
District without first obtaining the approval of the Illinois Commerce
Commission and except that no property owned by any city or village within
the District shall be taken or appropriated without first obtaining the
consent of such city or village.
Also, the District may lease to others for any period of time, not to
exceed 99 years, upon such terms as its Board may determine, any of its
real property, rights of way or privileges, or any interest therein, or any
part thereof, for industrial, manufacturing, commercial or harbor purposes.
In conjunction with such leases, the District may grant rights of way and
privileges across the property of the District, which rights of way and
privileges may be assignable and irrevocable during the term of any such
lease and may include the right to enter upon the property of the District
to do such things as may be necessary for the enjoyment of such leases,
rights of way and privileges, and such leases may contain such conditions
and retain such interest therein as may be deemed for the best interest of
the District by such Board.
Also, the District shall have the right to grant easements and permits
for the use of any such real property, rights of way or privileges which in
the opinion of the Board will not interfere with the use thereof by the
District for its primary purposes and such easements and permits may
contain such conditions and retain such interest therein as may be deemed
for the best interest of the District by the Board.
With respect to any and all leases, easements, rights of way, privileges
and permits made or granted by the Board, the Board may agree upon and
collect the rentals, charges and fees that may be deemed for the best
interest of the District. Except as provided in this Act for interim
financing, such rentals, charges and fees shall be used to defray the
reasonable expenses of the District and to pay the principal of and
interest on any revenue bonds issued by the District.
(Source: P.A. 94-1055, eff. 1-1-07.)