Illinois Compiled Statutes 65 ILCS 5/11-122.1-3 – Any municipality may lease, sell or purchase, on the installment …
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 65 ILCS 5/11-122.1-3
- 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
- Personal property: All property that is not real property.
Any municipality may lease, sell or purchase, on the installment basis or otherwise, real or personal property for use by such system.