Illinois Compiled Statutes 70 ILCS 1842/10 – Creation; governing and administrative body
Current as of: 2024 | Check for updates
|
Other versions
(a) There is created a unit of local government by the name of Rock Island Regional Port District that includes all the territory within the corporate limits of the City of Rock Island as those corporate limits exist on the effective date of this Act. Territory may be annexed into the Port District in the manner provided in Section 15. The Port District or participating municipality may sue and be sued in the Port District’s or municipality’s respective corporate name, but execution shall not issue against any of the property or assets of the Port District or participating municipality. The Port District may adopt a common seal and change the same at its pleasure.
All property of every kind belonging to the Port District is exempt from taxation, except that taxes may be assessed and levied upon a lessee of the Port District by reason of the value of a leasehold estate separate and apart from the fee and upon improvements as are constructed and owned by others than the Port District. All property of the Port District is public ground 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.
(b) The governing and administrative body of the Port District initially consists of the Rock Island City Council and, thereafter, the Rock Island City Council and each city council of an annexed municipality. The city council of a participating municipality is the governing body of that portion of the Port District within that participating municipality’s corporate limits.
All property of every kind belonging to the Port District is exempt from taxation, except that taxes may be assessed and levied upon a lessee of the Port District by reason of the value of a leasehold estate separate and apart from the fee and upon improvements as are constructed and owned by others than the Port District. All property of the Port District is public ground 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.
Terms Used In Illinois Compiled Statutes 70 ILCS 1842/10
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
(b) The governing and administrative body of the Port District initially consists of the Rock Island City Council and, thereafter, the Rock Island City Council and each city council of an annexed municipality. The city council of a participating municipality is the governing body of that portion of the Port District within that participating municipality’s corporate limits.