Illinois Compiled Statutes 105 ILCS 5/10-23.4a – To enter into a lease for a period of not to exceed 5 years for such …
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Terms Used In Illinois Compiled Statutes 105 ILCS 5/10-23.4a
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
To 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 members of the board of education.