(a) The Authority may, but need not, acquire title to any project with respect to
which it exercises its authority.
(b) The Authority shall have power to acquire by purchase, lease, gift or otherwise
any property or rights therein from any person or persons, the State of Illinois,
any municipal corporation, any local unit of government, the government of the United
States and any agency or instrumentality of the United States, any body politic or
any county useful for its purposes, whether improved for the purposes of any prospective
project or unimproved. The Authority may also accept any donation of funds for its purposes from any such
(c) The Authority shall have power to develop, construct and improve, either under
its own direction or through collaboration with any approved applicant, or to acquire
through purchase or otherwise any project, using for such purpose the proceeds derived
from its sale of revenue bonds, notes or other evidences of indebtedness or governmental
loans or grants and to hold title in the name of the Authority to such projects.
(d) The Authority shall have the power to enter into intergovernmental agreements
with the State of Illinois, the counties of Will and Kankakee, the Illinois Finance
Authority, the Metropolitan Pier and Exposition Authority, the United States government
and any agency or instrumentality of the United States, any unit of local government
located within the territory of the Authority or any other unit of government to the
extent allowed by Article VII, Section 10 of the Illinois Constitution and the Intergovernmental Cooperation Act. 1
(e) The Authority shall have the power to share employees with other units of government,
including agencies of the United States, agencies of the State of Illinois and agencies
or personnel of any unit of local government.
(f) The Authority shall have the power to exercise powers and issue bonds as if it
were a municipality so authorized in Divisions 12.1, 74, 74.1, 74.3 and 74.5 of Article
11 of the Illinois Municipal Code. 2
5 ILCS 220/1 et seq.
65 ILCS 5/11-12.1-1 et seq., 5/11-74-1 et seq., 5/11-74.1-1, 5/11-74.3-1 et seq. and
65 ILCS 5/11-74.5-1 et seq.
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