Sec. 5-1050. Acquisition and improvement of land for industrial or commercial purposes.
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/il/chapter-55/act-5/5-1050A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5-1050. Acquisition and improvement of land for industrial or commercial purposes. For the public purposes set forth in the Illinois Finance Authority Act, a county board may
(1)acquire, singly or jointly with other counties or municipalities, by gift, purchase or otherwise, but not by condemnation, land, or any interest in land, whether located within or without its county limits, and, singly or jointly, to improve or to arrange for the improvement of such land for industrial or commercial purposes and to donate and convey such land, or interest in land, so acquired and so improved to the Illinois Finance Authority; and
(2)donate county funds to such Authority.