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Lease of Space Around Municipal Buildings

  • 65 ILCS 5/11-75-1— Every municipality has the power to lease the space above and around buildings located on land owned or otherwise held by the municipality to any person for any term not exceeding 99 years
  • 65 ILCS 5/11-75-2— The lease provided for in Section 11-75-1 by its terms shall specify the purpose for which the leased space may be used
  • 65 ILCS 5/11-75-3
  • 65 ILCS 5/11-75-4— Such lease shall be signed in the name of the municipality by the mayor or president and shall be attested by the municipal clerk under the corporate seal
  • 65 ILCS 5/11-75-5