Illinois General Assembly - Illinois Compiled Statutes

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110 ILCS 805/3-36

(110 ILCS 805/3-36) (from Ch. 122, par. 103-36)

Sec. 3-36.

To buy one or more sites for college purposes with necessary ground, and
to take and purchase the site for a college site either with or without the
owner's consent, by condemnation or otherwise; to pay the amount of any
award made by a jury in a condemnation proceedings; and to select and
purchase all sites without the submission of the question to any
referendum. Purchases under this Section may be made by contract for deed
when the board considers the use of such a contract to be advantageous to
the district but a contract for deed may not provide for interest on the
unpaid balance of the purchase price at a rate in excess of 6% per year nor
for a period of more than 10 years in which that price is to be paid. Title
to all real estate shall be taken and held in the name of the board of the
community college district.

(Source: P.A. 99-655, eff. 7-28-16.)