Illinois § 5-40

§ 5-40.

Powers. (a) The bridge authority may: (1) Accept the assets of the commission. (2) Hold, exchange, lease, rent, sell (by conveyance by deed, land sale contract, or other instrument), use, or otherwise dispose of property acquired for the purpose of implementing this Act. (3) Prescribe the duties and regulate the compensation of the employees of the bridge authority. (4) Provide a pension and retirement system for employees of the bridge authority through use of the appropriate public employees' retirement fund. (5) Contract for the alteration, construction, extension, improvement, rehabilitation, or restoration of the bridge. (6) Accept grants, loans, and other forms of financial assistance from the federal government, the State, a unit of local government, a foundation, or any other source. (7) Establish and revise, as necessary, any charge or toll assessed for transit over the bridge. (8) Collect or cause to be collected any charge or toll assessed for transit over the bridge. (9) Borrow money and issue bonds, notes, certificates, or other evidences of indebtedness for the purpose of accomplishing any of the corporate purposes and refund or advance refund any of the evidences of indebtedness with bonds, notes, certificates, or other evidence of indebtedness, subject to compliance with any condition or limitation set forth in this Act. (10) Convert the bridge to and from a pedestrian bridge, vehicular bridge, or a combination of a pedestrian and vehicular bridge. (11) Transfer ownership of the bridge to Indiana only after approval by White County residents through referendum. (b) The bridge authority may exercise any of the powers authorized by this Act in the State of Indiana to the extent provided: (1) under Indiana law; or (2) through a joint action taken with Indiana or an Indiana entity as described in Section 5-15 of this Act. (Source: P.A. 100-981, eff. 8-19-18.)