(405 ILCS 25/7)
(from Ch. 91 1/2, par. 607)
Lease of durable, moveable equipment.
Upon conveyance of legal
title to the sponsoring authority, the Capital Development Board may lease
to the sponsoring authority for nominal consideration the initial durable,
moveable equipment required for the operation of the Specialized Living
Center in accordance with rules and regulations of the Department. The
lease shall contain at minimum the covenants binding the sponsoring authority
to maintain and repair the equipment and to maintain a perpetual inventory
of the equipment. The interest in such equipment transferred under this
Act to a sponsoring authority shall terminate upon the happening of any
condition causing legal title to the land and building to revert to the
Capital Development Board.
(Source: P.A. 79-1477.)