Every municipality has the power:
         (1) To acquire, by purchase or otherwise, construct,
    
operate and maintain, and repair any bridge within the corporate limits, or within 5 miles of the corporate limits of the municipality, including the necessary land therefor and the approaches thereto. In the exercise of the authority herein granted, the municipality may acquire such property, or any portion thereof or interest therein through condemnation proceedings for the exercise of the right of eminent domain under the Eminent Domain Act.
        (2) To acquire, purchase, hold, use, lease, mortgage,
    
sell, transfer, and dispose of any property, real, personal, mixed, tangible or intangible, or any interest therein in connection with such a bridge or bridges;
        (3) To fix, alter, charge, collect, segregate, and
    
apply tolls and other charges for transit over and use of such a bridge or bridges, provided that, if electronic toll collection is used on such bridge or ferry, the municipality shall configure the electronic toll collection system to be compatible with the electronic toll collection system used by the Illinois State Toll Highway Authority;
        (4) To borrow money, make and issue bonds payable
    
from and secured by a pledge of net revenue of the bridge for the construction of which such bonds may be issued;
        (5) To make contracts of every kind and nature and to
    
execute all instruments necessary or convenient for the carrying out of the purposes of this Division of this Article;
        (6) To accept grants from the United States and to
    
enter into contracts with the United States in connection therewith;
        (7) To enter upon any lands, areas, and premises for
    
the purpose of making soundings, surveys and examinations;
        (7.5) To enter into intergovernmental agreements with
    
the Illinois State Toll Highway Authority to provide for the compatibility of electronic toll collection services or to have the Authority provide electronic toll collection or toll violation enforcement services; and
        (8) To do all things necessary to carry out the
    
powers given in this Division of this Article.

Terms Used In Illinois Compiled Statutes 605 ILCS 5/10-702

  • Bridge: means any bridge over or across a river, including any bridges on the approaches thereto to eliminate intersection at grade with any street, tunnel, public road, thoroughfare, highway, railroad or street railroad, where the complete project is located entirely within the State;
         (2) "Net Revenue" means the gross revenue of a bridge less the reasonable cost of operating, maintaining, and repairing the bridge;
         (3) "United States" means the United States of America and any agent or agency thereof;
         (4) "Holder" means the holder or holders of any of the bonds issued under this Division of this Article. See Illinois Compiled Statutes 605 ILCS 5/10-701
  • 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
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
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