§ 50 ILCS 605/0.01 Short title
§ 50 ILCS 605/1 When used in this Act: (a) The term …
§ 50 ILCS 605/2 If the territory of any municipality shall be wholly within, …
§ 50 ILCS 605/3 The powers conferred in sections one (1) and two (2) of this Act …
§ 50 ILCS 605/3.1 Any municipality may lease for any term not exceeding 50 years to any …
§ 50 ILCS 605/4 Any municipality shall have the power upon resolution passed by a …
§ 50 ILCS 605/5 Eminent domain

Terms Used In Illinois Compiled Statutes > 50 ILCS 605 - Local Government Property Transfer Act

  • Grantor: The person who establishes a trust and places property into it.
  • 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
  • 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