SB0092 EngrossedLRB097 03013 RLJ 43044 b

1    AN ACT concerning local government.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Counties Code is amended by adding Section
55-14008 as follows:
 
6    (55 ILCS 5/5-14008 new)
7    Sec. 5-14008. Powers of commission; real property. The
8joint regional planning commission may acquire, by purchase,
9gift, or legacy, and hold real property for the purposes of the
10joint regional planning commission, and may sell and convey
11that property. The value of the real property shall be
12determined by a written appraisal performed by a
13State-certified real estate appraiser that shall be available
14for public inspection. The joint regional planning commission
15may purchase the real property under contracts providing for
16payment in installments over a period of time of not more than
1720 years and may finance the purchase of the real property
18under finance contracts providing for payment in installments
19over a period of time of not more than 20 years.
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.