The Authority shall have the following rights and powers:
         (a) To purchase, own, construct, lease as lessee or
    
in any other way acquire, improve, extend, repair, reconstruct, regulate, operate, equip and maintain fair and expositions grounds, convention or exhibition centers, civic auditoriums, including sites and parking areas and facilities therefor located within the metropolitan area and office buildings, if such buildings are acquired as part of the main auditorium complex;
        (b) To plan for such grounds, centers and auditoriums
    
and to plan, sponsor, hold, arrange and finance fairs, industrial, cultural, educational, theatrical, sports, trade and scientific exhibits, shows and events and to use or allow the use of such grounds, centers and auditoriums for the holding of fairs, exhibits, shows and events whether conducted by the Authority or some other person or governmental agency;
        (c) To exercise the right of eminent domain to
    
acquire sites for such grounds, centers and auditoriums, and parking areas and facilities in the manner provided for the exercise of the right of eminent domain under the Eminent Domain Act;
        (d) To fix and collect just, reasonable and
    
nondiscriminatory charges for the use of such parking areas and facilities, grounds, centers and auditoriums and admission charges to fairs, shows, exhibits and events sponsored or held by the Authority. The charges collected may be made available to defray the reasonable expenses of the Authority and to pay the principal of and the interest on any bonds issued by the Authority;
        (d-5) To sell the following real property and retain
    
the proceeds from the sale: the 2 Rialto Square Building at the southeast corner of Chicago Street and Clinton Street, legally described as follows: Lot 1 and Lot 2 in Block 3 in East Juliet (now Joliet) in the City of Joliet in Will County, Illinois; and
        (e) To enter into contracts treating any manner with
    
the objects and purposes of this Article.

Terms Used In Illinois Compiled Statutes 70 ILCS 200/280-20

  • Authority: means the Will County Metropolitan Exposition and Auditorium Authority. See Illinois Compiled Statutes 70 ILCS 200/280-5
  • 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
  • Metropolitan area: means all that territory in the State of Illinois lying within the corporate boundaries of the County of Will. See Illinois Compiled Statutes 70 ILCS 200/280-5
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
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