Illinois Compiled Statutes 70 ILCS 200/10-35 – Lease of real estate; competitive bidding not required
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Terms Used In Illinois Compiled Statutes 70 ILCS 200/10-35
- Authority: means Aurora Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/10-5
- Board: means the governing and administrative body of the Aurora Metropolitan Exposition, Auditorium and Office Building Authority. See Illinois Compiled Statutes 70 ILCS 200/10-5
- 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
Competitive bidding is not required for the lease of real estate or buildings owned or controlled by the Authority on July 13, 1982 (the effective date of Public Act 82-786). The Board is empowered to offer such leases upon such terms as it deems advisable.