Illinois Statutes

§ 11-122-9

Illinois·Topic GOVERNMENT·Ch. 65 MUNICIPALITIES·Act 65 ILCS 5/ Illinois Municipal Code.·Art. Art 11 prec Div 120 - Transportation Systems
Nothing contained in this Division 122 authorizes any city to make any street railway grant, or to lease any street railway property, for a period exceeding 20 years from the making of the grant or lease. However, when a right to maintain and operate a street railway for a period not exceeding 20 years is contained in a mortgage or deed of trust to secure street railway certificates, and no such right shall be implied, that period shall commence as provided in Section 11-122-4.

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Legislative History

(Source: Laws 1961, p. 576.)

Nearby Sections

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