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(65 ILCS 5/11-74.2-10) (from Ch. 24, par. 11-74.2-10)
Sec. 11-74.2-10.
When the corporate authorities have acquired title
to, and possession of all or any part of the real property located
within a redevelopment area, they may let contracts for the demolition
or removal of buildings and for the removal of any debris. The corporate
authorities shall advertise for sealed bids for doing such work. The
advertisement shall describe by street number or other means of
identification the location of the buildings to be demolished or removed
and the time and place where sealed bids for the work may be delivered
to the corporate authorities. The advertisement shall be published once
in a newspaper having a general circulation in the municipality 20 days
prior to the date for receiving bids.
The contract for doing the work shall be let to the lowest
responsible bidder, but the corporate authorities may reject any and all
bids received and readvertise for bids. Any contract entered into by the
corporate authorities under this Section shall contain provisions
requiring the contractor to give bond in an amount equal to 1/3 of his
bid price, but in no event in excess of $25,000, conditioned for the
faithful performance of the contract and requiring the contractor to
furnish insurance of a character and amount to be determined by the
corporate authorities protecting the corporate authorities and the
municipality, its officers, agents and employees against any claims for
personal injuries, including death and property damage which may be
asserted because of the contract. The corporate authorities may include
in any advertisement and in the contract one or more buildings, or
groups of buildings, as they in their sole discretion may determine.
Notwithstanding the foregoing, if prior authorization is granted by
ordinance of the corporate authority, contracts for work on commercial
projects to be financed with revenue bonds payable solely from rentals, loan repayments
and other receipts to be derived from such commercial projects, whether
or not secured by a mortgage, may be let by the prospective lessee
without advertisement or bidding.
(Source: P.A. 81-1376.)
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