§ 18. Conveyance for public use. Subject to the preceding Section, and whenever the Authority has acquired title
to, and possession of, any or all real property within the designated area, the Authority
(1) may convey to the City in which the area is located and with or without any monetary
consideration therefor, such parts thereof as are to be laid out into streets and
alleys; (2) may convey to that City or to any public body having jurisdiction over
schools, parks or playgrounds in the designated area, such parts of such real property
for use for parks, playgrounds, schools and other public purposes as the Authority
may provide for in its plan of redevelopment, and at such price or prices as the Authority
and the proper officials of such public bodies may agree upon; and (3) may grant
easements for public utilities, sewers, and other similar facilities, with or without
The proceeds from the sale of any real property by the Authority pursuant to this
Section shall be placed in a sinking fund to be created by the Authority for the retirement
of revenue bonds issued by the Authority pursuant to this Act.
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