Illinois Compiled Statutes 70 ILCS 1830/5 – All property of the Port District shall be public grounds owned by a …
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Terms Used In Illinois Compiled Statutes 70 ILCS 1830/5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
All property of the Port District shall be public grounds owned by a municipal corporation and used exclusively for public purposes within the tax exemption provisions of Sections 15-10, 15-15, 15-20, 15-30, 15-75, 15-140, 15-155, and 15-160 of the Property Tax Code.