(110 ILCS 325/1) (from Ch. 144, par. 70.1)
Sec. 1.
The Commissioners of the Chicago Park District are authorized and
empowered to convey, sell, donate, lease or rent, from time to time, all or
part of any park or park property, including improvements located thereon,
to The Board of Trustees of the University of Illinois, to be used,
developed, maintained and operated by the Trustees as an institution of
higher education. The Commissioners and The Board of Trustees of the
University of Illinois may enter into such contracts and agreements
respecting the consideration to be paid for such transfer or transfers, and
other conditions, as may be mutually agreed upon, and the Park
Commissioners may execute and deliver such instruments of conveyance, lease
or gift as may be necessary to transfer title, or, in the event of a lease,
to transfer rights of possession to The Board of Trustees of the University
of Illinois. Any instrument of conveyance, sale, gift or lease executed
pursuant to the power herein granted shall be signed by the President and
attested by the Secretary of the Chicago Park District, with its corporate
seal.
(Source: Laws 1959, p. 2094.)
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