(70 ILCS 15/17)
(from Ch. 15 1/2, par. 717)
The Authority shall possess the power to:
(1) Enter into contracts regarding any matter connected with any purpose
within the objects and purposes of this Act.
(2) Employ agents and employees necessary to carry out the duties and
purposes of the Authority.
(3) Adopt all necessary bylaws, rules and regulations for the conduct
of the business and affairs of the Authority, and for the management and
use of facilities and sites acquired under the powers granted by this Act.
(4) Have and use a common seal and alter the same at pleasure.
(5) Secure grants or loans, or both, from the United States government,
or any agency thereof, for financing the planning, establishment,
construction and operation of any airport, related facility, perimeter area
or perimeter area facility or any part of any of the foregoing authorized
by this Act. For such purposes the Authority may issue and sell or pledge
to the United States government, or any agency thereof, all or any part of
the revenue bonds authorized under Sections 14, 15 and 16 of this Act, and
execute contracts and documents and do all things that may be required by
the United States government, or any agency thereof, provided that such
contracts and documents do not conflict with the provisions of any
resolution authorizing and securing the payment of outstanding bonds of the
Authority theretofore issued that are payable from the revenues derived
from the operation of any Authority airport, related facility, perimeter
area or perimeter area facility.
(Source: P.A. 86-1400.)