Illinois Compiled Statutes 70 ILCS 210/7 – The Authority shall have power to acquire and accept by purchase, …
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Terms Used In Illinois Compiled Statutes 70 ILCS 210/7
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
The Authority shall have power to acquire and accept by purchase, lease, gift, or otherwise any property or rights from any person or persons or any governmental agency useful for its purposes, including, but not limited to, Navy Pier.