(35 ILCS 200/15-80)
Sec. 15-80.
Installment purchase of property by a governmental body.
All
property that is being purchased by a governmental body under an installment
contract pursuant to statutory authority and used exclusively for the public
purposes of the governmental body is exempt, except such property as the
governmental body has permitted or may permit to be taxed.
(Source: P.A. 83-1371; 88-455.)
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