Terms Used In Illinois Compiled Statutes 70 ILCS 1205/10-1

  • 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
     Every park district shall retain and be vested with all power and authority contained in “An Act to authorize the commissioners of park districts to convey property to and lease property from the Federal Government”, approved November 21, 1933, as amended.