The bridge authority is established for the purpose of:
         (1) inheriting the assets, duties, powers, and rights
    
of the commission;
        (2) accepting the transfer and ownership of the
    
bridge and all interests of the commission in real and personal property;
        (3) accepting or receiving all other assets of the
    
commission; and
        (4) equipping, financing, improving, maintaining,
    
operating, reconstructing, rehabilitating, and restoring the bridge for use by motor vehicles, pedestrians, and other modes of transportation.

Terms Used In Illinois Compiled Statutes 45 ILCS 185/5-35

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Personal property: All property that is not real property.