Illinois Statutes Chapter 70. Special Districts § 1842/45. Lease of property; easements and permits; rent, charges, and fees

(a) The city council of a participating municipality may lease to others for any period of time, not to exceed 99 years, upon terms the city council determines, any of its real property, rights-of-way, or privileges, or any interest in or part of its real property, rights-of-way, or privileges, for industrial, manufacturing, commercial, recreational, or harbor purposes that, in the opinion of the city council, is no longer required for its primary purposes in the development of port facilities for the use of public transportation, or that may not be immediately needed for those purposes, but where the leases will, in the opinion of the city council, aid and promote those purposes. In conjunction with those leases, the participating municipality may grant rights-of-way and privileges across the property of the Port District within the participating municipality and those rights-of-way and privileges may be assignable and irrevocable during the term of the lease and may include the right to enter upon the property of the Port District within the participating municipality to do things necessary for the enjoyment of the leases, rights-of-way, and privileges. Those leases may contain conditions and retain interest in the leases as determined to be in the best interest of the Port District by the participating municipality's city council.

(b) The city council of a participating municipality may grant easements and permits for the use of real property, rights-of-way, or privileges within the participating municipality, that, in the opinion of the participating municipality's city council, will not interfere with the use of the real property, rights-of-way, or privileges of the Port District within the participating municipality for its purposes, and those easements and permits may contain conditions and retain interest deemed in the best interest of the Port District within the participating municipality.

(c) The city council of a participating municipality may agree upon and collect the rentals, charges, and fees on all leases, easements, rights-of-way, privileges, and permits made or granted by the city council that are in the best interest of the Port District within the participating municipality. The rentals, charges, and fees charged shall be used to defray the reasonable expenses of the Port District within the participating municipality and to pay the principal of and interest on any revenue bonds issued by the participating municipality for Port District purposes.