(615 ILCS 65/5) (from Ch. 19, par. 117)
Sec. 5.
The City of Chicago may use for any of the purposes conferred and
authorized by Division 123 of Article 11 of the "Illinois Municipal Code",
approved May 29, 1961, as now or hereafter amended, may sell and convey, or
may lease for any term of years, any part or parts or all of the lands
granted to the City by this Act for industrial, manufacturing or harbor
purposes. When any lands are sold or leased, such grant or lease shall
contain a clause in the deed, or lease to the effect that the lands shall
be used for the purpose authorized within a certain time fixed or agreed
upon between the City of Chicago and its grantees or lessees.
Before any such sale or lease shall become effective, such sale or lease
shall be approved in writing by the Director of Natural Resources
and, in case of approval, there shall be affixed to the instrument by which
such sale or lease is effective, the seal of the Department of Natural
Resources. The approval, or the refusal to approve of
such sale or lease, shall be made by the Director within 30
days from the date of filing such application, and in case the Director does
not act on the application within 30 days from the date of
the filing of such application, by approving or disapproving same in writing,
the sale or lease shall be deemed to have been approved and the same shall take
effect accordingly without the seal of the Department being affixed.
(Source: P.A. 89-445, eff. 2-7-96.)
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