Illinois Statutes

§ 11-117-6

Illinois·Topic GOVERNMENT·Ch. 65 MUNICIPALITIES·Act 65 ILCS 5/ Illinois Municipal Code.·Art. Art 11 prec Div 117 - Municipal Utilities
(a)Any municipality may incorporate in any grant to a public utility company reservation of the right on the part of the municipality to take over all or any part of the property, plant, or equipment used in the operation of that public utility company, at or before the expiration of the grant, upon such terms and conditions as may be provided in the grant. Any municipality also may provide in any such grant that if such a reserved right is not exercised by the municipality, and if the municipality grants the right to another person to operate a utility in the streets and parts of streets occupied by its grantee under the former grant, the new grantee shall purchase and take over the property located in those streets and parts of streets upon the terms which the municipality might have ta

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Legislative History

(Source: P.A. 89-523, eff. 7-19-96.)

Nearby Sections

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