Illinois Compiled Statutes 20 ILCS 3820/25 – Powers of Authority
Current as of: 2024 | Check for updates
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(a) The Authority possesses all the powers as a body corporate necessary and convenient to accomplish the purposes of this Act, including, without any intended limitation upon the general powers hereby conferred, all of the following:
(1) To enter into loans, contracts, and agreements in
(1) To enter into loans, contracts, and agreements in
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any matter connected with any of its corporate purposes and to invest its funds.
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(2) To sue and be sued.
(3) To employ those agents, employees, and
(3) To employ those agents, employees, and
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independent contractors necessary to carry out its purposes, and to fix their compensation, their benefits, and the terms and conditions of their employment.
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(4) To have and use a common seal and to alter the
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seal at pleasure.
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(5) To adopt all needful resolutions, by-laws, and
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rules for the conduct of its business and affairs.
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(6) To have and exercise all powers and be subject to
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all duties usually incident to boards of directors of corporations.
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(b) The Authority shall not have the power to levy taxes for any purpose whatsoever.