(65 ILCS 5/11-122-9) (from Ch. 24, par. 11-122-9)
Sec. 11-122-9.
Nothing contained in this Division 122 authorizes any city
to make any street railway grant, or to lease any street railway property,
for a period exceeding 20 years from the making of the grant or lease.
However, when a right to maintain and operate a street railway for a period
not exceeding 20 years is contained in a mortgage or deed of trust to
secure street railway certificates, and no such right shall be implied,
that period shall commence as provided in Section 11-122-4.
(Source: Laws 1961, p. 576.)
|