65 ILCS 5/ Illinois Municipal Code.

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65 ILCS 5/11-92-11

(65 ILCS 5/11-92-11) (from Ch. 24, par. 11-92-11)

Sec. 11-92-11.

The state and all counties, cities, villages, incorporated
towns and other municipal corporations, political subdivisions and public
bodies, and public officers of any thereof, all banks, bankers, trust
companies, savings banks and institutions, building and loan associations,
savings and loan associations, investment companies and other persons
carrying on a banking business, all insurance companies, insurance
associations and other persons carrying on an insurance business, and all
executors, administrators, guardians, trustees and other fiduciaries may
legally invest any sinking funds, moneys or other funds belonging to them
or within their control in any bonds, including refunding bonds, issued
pursuant to this law, it being the purpose of this section to authorize the
investment in such bonds of all sinking, insurance, retirement,
compensation, pension and trust funds, whether owned or controlled by
private or public persons or officers. Nothing contained in this section
may be construed as relieving any person, firm, or corporation from any
duty of exercising reasonable care in selecting securities for purchase or
investment.

(Source: Laws 1961, p. 576.)

65 ILCS 5/Art. 11 Div. 93

(65 ILCS 5/Art. 11 Div. 93 heading) DIVISION 93.

POWER TO ACQUIRE PIERS

AND BEACHES

65 ILCS 5/11-93-1

(65 ILCS 5/11-93-1) (from Ch. 24, par. 11-93-1)

Sec. 11-93-1.

The corporate authorities of each municipality may acquire by
eminent domain private lands bordering upon public or navigable waters,
useful or desirable for bathing beaches and recreation piers.

(Source: Laws 1961, p. 576.)