(70 ILCS 1105/9)
(from Ch. 85, par. 6809)
Installment purchases and leases.
The board of a museum district
may by ordinance (i) purchase or lease as lessee real or personal property,
or acquire an easement in real property, for public purposes pursuant to
contracts or leases which provide that the consideration for the purchase,
lease, or easement may be paid in annual installments and (ii) lease as
lessee or purchase real or personal property for public purposes pursuant
to a lease or purchase agreement which provides that the district may, at
its option, purchase the property which is subject to the agreement or
lease upon terms providing that payments previously made, or a portion of
them, are deducted from the purchase price of the property.
(Source: P.A. 86-477.)