(a) The Central Illinois Regional Airport Authority is hereby established, the territory of which shall include all of the territory within the corporate limits of McLean County. Within 30 days after the initial appointments have been made under subsection (c), the Authority board shall notify the office of the Secretary of State of the establishment of the Central Illinois Regional Airport Authority, and the Secretary of State shall issue a certificate of incorporation to the Authority. Upon the issuance of a certificate of incorporation, the Central Illinois Regional Airport Authority is an organized airport authority under this Act.
     (b) If all of the airport facilities of an existing airport authority are situated within McLean County on the effective date of this amendatory Act of the 103rd General Assembly, that existing airport authority is dissolved upon the establishment of the Central Illinois Regional Airport Authority. Upon dissolution, the rights to all property, assets, and liabilities, including bonded indebtedness, of the existing airport authority is assumed by the Central Illinois Regional Airport Authority.

Terms Used In Illinois Compiled Statutes 70 ILCS 5/2.7.3

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Municipalities: has the meaning established in Section 1 of Article VII of the Constitution of the State of Illinois of 1970. See Illinois Compiled Statutes 5 ILCS 70/1.27
  • 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

     (c) The Board of Commissioners of the Central Illinois Regional Airport Authority shall consist of the following commissioners who shall reside within its corporate limits and shall be appointed as follows:
         (1) Three commissioners shall be appointed by the
    
county board chairman of McLean County, 2 of whom shall reside in rural municipalities with a population less than 5,000 and one of whom shall reside in an unincorporated area of McLean County. Of the commissioners appointed under this paragraph, one commissioner shall be appointed for a 3-year term, one commissioner shall be appointed for a 4-year term, and one commissioner shall be appointed for a 5-year term, as determined by lot. Their successors shall be appointed for 5-year terms.
        (2) Two commissioners shall be appointed by the mayor
    
of the City of Bloomington. Of the commissioners appointed under this paragraph, one commissioner shall be appointed for a 3-year term and one commissioner shall be appointed for a 4-year term, as determined by lot. Their successors shall be appointed for 5-year terms.
        (3) Two commissioners shall be appointed by the mayor
    
of the Town of Normal. Of the commissioners appointed under this paragraph, one commissioner shall be appointed for a 4-year term and one commissioner shall be appointed for a 5-year term, as determined by lot. Their successors shall be appointed for 5-year terms.
  Previous section
Next section  
 70 ILCS 5 Contents