(70 ILCS 1905/18)
(from Ch. 114, par. 378)
for public use.
Subject to the preceding Section, and whenever the Authority has
acquired title to, and possession of, any or all real property within the
designated area, the Authority (1) may convey to the City in which the area
is located and with or without any monetary consideration therefor, such
parts thereof as are to be laid out into streets and alleys; (2) may convey
to that City or to any public body having jurisdiction over schools, parks
or playgrounds in the designated area, such parts of such real property for
use for parks, playgrounds, schools and other public purposes as the
Authority may provide for in its plan of redevelopment, and at such price
or prices as the Authority and the proper officials of such public bodies
may agree upon; and (3) may grant easements for public utilities, sewers,
and other similar facilities, with or without consideration therefor.
The proceeds from the sale of any real property by the Authority
pursuant to this Section shall be placed in a sinking fund to be created by
the Authority for the retirement of revenue bonds issued by the Authority
pursuant to this Act.
(Source: Laws 1957, p. 786.)