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Illinois Compiled Statutes
Information maintained by the Legislative Reference Bureau Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide. Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.
() 65 ILCS 5/11-76-4.2
(65 ILCS 5/11-76-4.2) (from Ch. 24, par. 11-76-4.2)
Sec. 11-76-4.2.
Surplus property; alternative method of sale.
(a) This Section applies to any municipality with a population of less
than 20,000 which is situated wholly or partially within a county that has
an unemployment rate, as determined by the Illinois Department of
Employment Security, higher than the national unemployment average, as
determined by the U.S. Department of Labor, for at least one month during
the 6 months preceding the adoption of a resolution to sell real estate
under this Section.
(b) If a municipality has either (1) adopted an ordinance to sell
surplus real estate under Section 11-76-2 and has received no bid on a
particular parcel or (2) adopted a resolution to sell surplus real estate
under Section 11-76-4.1 and has received no acceptable offer on a
particular parcel within 6 months after adoption of the resolution, then
that parcel of surplus real estate may be sold in the manner set forth in
subsection (c) of this Section.
(c) If the requirements of subsections (a) and (b) of this Section are
met, then the corporate authorities may, by resolution, authorize the sale
of a parcel of surplus public real estate in either of the following
manners: (1) by the staff of the municipality; (2) by listing with local
licensed real estate agencies; or (3) by public auction. The terms of the
sale, the compensation of the agent, if any, the time and the place of the
auction, if applicable, a legal description of the property and its size,
use and zoning shall be included in the resolution. The resolution shall
be published once each week for 3 successive weeks in a daily or weekly
newspaper published in the municipality or, if none, in a newspaper
published in the county in which the municipality is located. No sale may
be conducted until at least 30 days after the first publication. The
corporate authorities may accept any offer or bid determined by them to be
in the best interest of the municipality by a vote of three-fourths of the
corporate authorities then holding office.
(Source: P.A. 86-331.)
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65 ILCS 5/11-76-5
(65 ILCS 5/11-76-5) (from Ch. 24, par. 11-76-5)
Sec. 11-76-5.
If, in the opinion of the corporate authorities of a
municipality with a population not exceeding 100,000 which is situated upon
the banks of a navigable river, the land owned by the municipality for the
purpose of a public landing or public levee, is not immediately required
for that purpose, the municipality may lease, for a period not exceeding 25
years, such parts of the landing or levee as the corporate authorities
think best, for the purpose of erecting manufactories, warehouses, or grain
elevators thereon.
No lease specified in this section shall take effect until approved by a
resolution or ordinance of the corporate authorities of the municipality.
(Source: Laws 1961, p. 576.)
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65 ILCS 5/11-76-6
(65 ILCS 5/11-76-6) (from Ch. 24, par. 11-76-6)
Sec. 11-76-6.
The corporate authorities of each municipality may enter into
a lease for a period of not to exceed 5 years for such equipment and
machinery as may be required for corporate purposes when authorized by the
affirmative vote of two-thirds of the corporate authorities.
(Source: Laws 1961, p. 2841.)
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65 ILCS 5/Art. 11 Div. 76.1
(65 ILCS 5/Art. 11 Div. 76.1 heading)
DIVISION 76.1.
PURCHASE OR LEASE OF REAL OR
PERSONAL PROPERTY
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65 ILCS 5/11-76.1-1
(65 ILCS 5/11-76.1-1) (from Ch. 24, par. 11-76.1-1)
Sec. 11-76.1-1.
The corporate authorities of each municipality having a
population of less than 500,000 inhabitants have the power by ordinance
adopted by an affirmative vote of two-thirds of the elected corporate
authorities then holding office:
(i) To purchase or lease real or personal property for public purposes
pursuant to contracts or leases which provide for the consideration for
such purchase or lease to be paid in annual installments during a period
not exceeding 20 years;
(ii) To lease as lessee and to purchase real property or personal
property for public purposes pursuant to a lease or purchase agreement
which lease or purchase agreement may provide that the municipality may, at
its option, purchase the property which is subject to the agreement or
lease upon terms wherein payments previously made, or a portion of them,
are deducted from the purchase price of the property as provided for in
such lease or agreement.
A municipality, having adopted and filed with the municipal clerk such
installment or lease agreement, executed by officers of the municipality,
may issue debt certificates to any person either in lieu of or in evidence
of the amounts payable under such lease or installment agreement. Such
certificates may contain such terms as are provided for the issuance of
bonds generally under Section 10 of the Local Government Debt Reform Act, as
now or hereafter amended, except to the extent such terms expressly
conflict with limitations set forth in this Division. Cash proceeds
received upon issuance of such certificates shall be duly applied to the
acquisition and construction and payment for the real or personal property
which is the subject of such installment or lease agreement.
(Source: P.A. 85-1419.)
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